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					                                                                                                                                                                                                                          ARAB TIMES, WEDNESDAY, JUNE 22, 2011
    BUSINESS                                                                                                                                                                                                                                                                 43

                             Renault to launch ‘Duster’                                                      automakers to hire thousands                                                                            World Bank debuts tool

    French      auto   group     Renault     to be named.                                    Toyota and other Japanese automak-        Great East Japan Earthquake,” a                  Poor farmers in the developing            in developing countries.
    announced on Tuesday the launch             “Five launches in only 15 months             ers on Tuesday said they planned to       Toyota statement said.                           world will now be able to use Wall           “With this new tool, we can help
    in India of its low-cost four-wheel      is not only a first for Renault, but            hire thousands of contract workers in       “In order to meet the challenge,               Street-style financial wizardry to        farmers, food producers, and con-
    drive “Duster” vehicle built by its      also for the Indian market,” the                Japan as they look to make up for lost    the company plans to hire 3,000 to               protect against food price volatility,    sumers       protect    themselves
    Dacia subsidiary. Duster, a model        statement said.                                 production due to the March 11 earth-     4,000 contract workers throughout                under a new program announced             against price swings, strengthen
    first introduced in 2010, will be           Renault said India is one of the             quake and tsunami.                        the nation from mid-July.”                       by the World Bank on Tuesday.             their credit position, and increase
    especially adapted for the Indian        three pillars of its international strat-          Toyota alone said it planned to          They will be Toyota’s first new
    market, the statement said.              egy along with Brazil and Russia.               hire up to 4,000 contract workers at      contract hires since December                       The Washington-based devel-            their access to finance,” World
       Before the end of the year,              Renault hopes to increase its cur-           its Japan factories.                      2009, said spokeswoman Kayo Doi.                 opment lender said it was launch-         Bank chief Robert Zoellick said.
    Renault hopes to introduce five          rent network of dealerships in India               “In terms of domestic output, the      The positions available will be for              ing a new risk management prod-              “This tool shows what sensible
    vehicles in India including the          from 14 today to about 100 — cov-               company expects production will start     part manufacturing and vehicle                   uct to provide an initial $4 billion in   financial engineering can do: make
    Duster, the Fluence, the 4x4 Keleos,     ering 90 percent of the territory —             recovering from around October,           assembly at Toyota plants, she                   protection from volatile food             lives better for the poor,” Zoellick
    a compact car, and a fifth model yet     before the end of 2012. (AFP)                   making up the delay caused by the         added. (AFP)                                     prices to farmers and consumers           said in a statement. (AFP)

                                                                              Delegates offer mixed reactions to Elop’s upbeat statements

Nokia heralds ‘new season’ in market share bid
SINGAPORE, June 21, (AFP): Troubled             “We have shifted our organisation, we    with sleeker mobile phones offering a         ending Nokia’s 14-year streak as world       research firm IDC, the Android operating         However, it has a function that allows
mobile phone giant Nokia on Tuesday it       have a clear strategy and we are focused    wide range of applications from games to      number one.                                  system will account for 43.8 percent of       users to link it to dedicated accessories
was confident it could reverse sagging       on delivering results.”                     business software.                               In addition to Samsung and Apple,         the global smartphone market by 2015,         such as a headset or speakers by simply
fortunes and remain a market leader amid        Nokia hired Elop, a former Microsoft        Nokia phones accounted for at least        Taiwan’s HTC is also starting to rival       with Windows Phone 7 taking 20.3 per-         touching the phone against them.
stiff competition from rivals such as        executive, last September as its market     eight out of every 10 phones sold in Asia     Nokia, Nomura said in a June 12 report.      cent, Apple’s iOS 16.9 percent,                  Delegates had mixed reactions to the
Apple and Samsung.                           share slumped in the face of competition    at one point, according to the                   “By the end of 2011, we doubt that        Blackberry OS 13.4 percent — and              Nokia chief’s upbeat statements.
   Chief executive Stephen Elop said at a    from Apple’s iPhone, Asian rivals led by    CommunicAsia programme but analysts           Nokia’s market share in Western Europe,      Nokia’s Symbian holding a mere 0.1 per-          “Nokia will survive but probably in a
regional telecoms fair in Singapore that     Samsung, and Canada’s Research in           said the company now faces an uphill          APAC (Asia Pacific), or North America        cent.                                         different style, a different way. They will
the Finnish company was making good          Motion, maker of the Blackberry.            task to stay in the lead.                     will be higher than low- to mid-single          Nokia boss Elop said he was confi-         evolve,” said Marcus Tan, Asia-Pacific
on promises to overhaul itself and              In February, the company said it was        Nomura Equity Research has forecast        digits at best,” it said.                    dent that the firm’s first Windows 7          managing director of mobile advertising
unveiled a new high-end phone, the N9,       going to adopt Microsoft’s Windows          that Nokia’s share of the entire mobile          “This implies that Nokia has lost rele-   model will be launched later this year        firm Smaato, who visited Nokia’s booth
to bolster his claim.                        Phone 7 (WP7) operating system for its      phone market will decline from 25.1 per-      vance in these markets — markets that        “and we will ship our products in vol-        in CommunicAsia.
   “Earlier this year Nokia outlined a new   future smartphones to do battle with        cent in the first quarter this year to 19.9   are brand conscious and technology           ume in 2012.”                                    “With the influx of tablets and iPads or
course to change our direction. Just four    Apple’s iOS and Google’s Android soft-      percent in the fourth quarter.                aware. Not only has Nokia’s brand value         The N9 features an “all-screen” dis-       iPhones, I think the market will evolve
months and ten days later, on June 21,       ware, a favourite among Asian manufac-         In the smartphone sector, the decline is   fallen, but it seems unlikely that WP7 is    play devoid of the “home” button present      and Nokia will be one of the leading
today, a new season is beginning at Nokia    turers.                                     steeper, from 25.5 percent in the first       about to leapfrog Android or the iPhone,”    on the iPhone and other high-end devices,     players in the industry.”
as well,” Elop said at the CommunicAsia         Nokia has seen its global market share   quarter to 13.1 percent in the fourth quar-   it added.                                    although it does not run on Windows              But Singaporean technological blogger
2011 industry expo.                          dwindle after other companies came up       ter — which would result in Samsung              According to information technology       Phone 7 software.                             Lester Chan was not as optimistic.

                                                                                         Japan pledges eurozone support
                 ‘Start of whole new phase’
                                                                                         in its battle to contain debt crisis
    ICANN loosens rules                                                                                                                China says willing to help Europe economy
    on Internet addresses                                                                TOKYO, June 21, (Agencies): Japan will continue to support                                 and avoid a sovereign default.
                                                                                                                                                                                       “Japan has been making its own contributions to bring stability to European
                                                                                         Europe in its battle to contain a debt crisis, finance minister                            financial conditions, such as by buying debt (issued by the rescue fund) during
    SINGAPORE, June 21, (AP): A              panies to promote their brands and
    quarter-century after the creation of    allow all sorts of niche communi-           Yoshihiko Noda said Tuesday, as eurozone officials try to                                  efforts to support Portugal,” Noda said at a news conference following a cabinet
    “.com,” the agency that assigns          ties to thrive online. But they could       avoid a potentially damaging Greek default.                                                meeting Tuesday.
    Internet addresses is loosening its      create confusion, too.                        Japan has previously pledged to help boost confidence in the bonds issued                   “We’d like to continue those efforts,” he said.
    rules and allowing suffixes named           And they might not make much             by the European Financial Stability Facility (EFSF), amid concerns earlier this               The world’s second-largest holder of foreign currency after China, Japan bought
    after brands, hobbies, political         difference. More and more people            year for eurozone nations such as Portugal and Ireland.                                    about two billion euros ($2.9 billion) of bonds in programmes launched to date by
    causes and just about anything else.     online find what they’re looking               But market fears are now centred on Greece, which received a multi-billion-dol-         the eurozone-backed EFSF in January and in mid-June.
       Under guidelines approved             for by typing a term into a search          lar bailout last year but is struggling to meet a deadline to pay a loan installment          Japan’s efforts to assist Europe may be driven by concerns that the continent’s
    Monday, Apple could register             engine, not tapping out a full                                                                                                                                                     sovereign debt turmoil poses a threat to
    addresses ending in “.ipad,” Citi        address. Or they use an app and                                                                                                                                                    European demand for Japanese goods
    and Chase could share “.bank” and        don’t type anything.                                                                                                                                                               or send the yen higher against the euro,
    environmental groups could go               ICANN will start taking applica-                                                                                                                                                say analysts.
    after “.eco.” Japan could have           tions for new suffixes Jan. 12.                                                                                                                                                       Greece was on Monday given a two-
    “.com” in Japanese.                      Approval of individual applications                                                                                                                                                week deadline to drive through drastic
       It’s the biggest change to the sys-   is expected to be quick if there are                                                                                                                                               new cuts before it can receive a 12-bil-
    tem of Internet addresses since it       no challenges for trademark,                                                                                                                                                       lion-euro payment to ensure it does not
    was created in 1984.                     morality or other reasons.                                                                                                                                                         default.
       More than 300 suffixes are avail-     Proposals that are challenged                                                                                                                                                         Regarding assistance for Greece,
    able today, but only a handful, such     would have to undergo more thor-                                                                                                                                                   Noda said: “We will cooperate if there
    as the familiar “.net” and “.com,”       ough reviews, including possible                                                                                                                                                   is something that Japan can do.”
    are open for general use world-          arbitration to decide on the merits                                                                                                                                                   The International Monetary Fund,
    wide. Hundreds of new suffixes           of claims.                                                                                                                                                                         which is funding a third of Greece’s
    could be established by late next           High-profile entertainment, con-                                                                                                                                                first 110-billion-euro bailout, warned
    year, thousands in years to come.        sumer-goods and financial-services                                                                                                                                                 decisive action was needed to prevent
       “This is the start of a whole new     companies will likely be among the                                                                                                                                                 the crisis from spreading throughout
    phase for the Internet,” said Peter      first to apply for the new suffixes to                                                                                                                                             the 17-nation eurozone and beyond.
    Dengate Thrush, chairman of the          protect their brands.                                                                                                                                                                 Markets worry a default on Greek
    Internet Corporation for Assigned           Canon Inc., the camera and                                                                                                                                                      debt could trigger a cascade of prob-
    Names        and     Numbers,      the   printer company, already plans to                                                                                                                                                  lems in Europe’s bigger economies,
    California nonprofit organization        apply for “.canon.” And Apple                                                                                                                                                      including Spain. Such a domino effect
    in charge of Internet addresses.         could go after not just “.apple,” but                                                                                                                                              could again hobble the global financial
       The novelty addresses will be         also “.ipad” and “.iphone.” Apple                                                                                                                                                  system, much like the massive crisis of
    costly — $185,000 to apply and           had no comment Monday.                                                                                                                                                             2008.
    $25,000 a year to maintain one. A                       Operate                                                                                                                                                                                   Fears
    personal address with a common                                                                                                                                                                                                   Showing the extent of international
    suffix such as “.com” usually costs         Groups have already formed to
                                             back “.sport” for sporting sites, and                                                                                                                                                fears over renewed financial contagion,
    less than $10 a year.                                                                                                                                                                                                         G7 finance ministers from Britain,
       ICANN says it costs tens of mil-      two conservationist groups sepa-
                                             rately are seeking the right to oper-                                                                                                                                                Canada, France, Germany, Italy, Japan
    lions of dollars to write the guide-                                                                                                                                                                                          and the United States held a late
    lines for suffixes, review applica-      ate an “.eco” suffix. Trade groups
                                             for bankers and financial-services                                                                                                                                                   Sunday-night telephone conference to
    tions and resolve any disputes.                                                                                                                                                                                               discuss the Greek debt crisis.
    Even with the hefty fees, the organ-     companies are jointly exploring             Employees chat outside a showroom, with its wall covered with solar panels, showing a solar-powered car at a factory of
                                             applications for “.bank,” ‘’.insure”                 Yingli Green Energy Holding Co, in Baoding, in northern China’s Hebei province, on June 20. (AP)                                   Prime Minister George Papandreou’s
    ization says it plans only to break                                                                                                                                                                                           government faces a confidence vote on
    even. It’s also setting aside up to $2   and “.invest” for their member
                                             companies.                                                                                                                                                                           Tuesday as it looks to eventually steer
    million to subsidize applications                                                                                                                                                                                             28.4 billion euros of austerity cuts into
                                                Smaller companies stand to ben-
    from developing countries.
       The expansion plan, which runs        efit, too. A florist called Apple                                                  Posco says work to continue                                                                       legislation in order to get its latest lifeline.
                                             can’t use “” because the                                                                                                                                                       European Union leaders also stage a
    about 350 pages, took six years to                                                                                                                                                                                            summit in Brussels on Thursday and
                                             computer company has it.
       Before 1998, the United
                                             Previously, the shop might have
                                             registered a longer, clunky address.
                                             Now it can just be “Apple.flow-
                                                                                         Indian state halts land takeover                                                                                                         Friday — with a second bailout for
                                                                                                                                                                                                                                  Greece, whose debts currently top 350
                                                                                                                                                                                                                                  billion euros, near the top of a packed
    States, which paid for most of           ers.”                                       BHUBANESWAR, India, June 21,                  project received final clearances from       named, said.
    the early Internet, was in charge           Of course, a small florist might                                                                                                                                                     Noda, meanwhile, said the Japanese
                                                                                         (RTRS): Local protests have forced an         the Environment Ministry.                       “It also shows that despite govern-        government should continue efforts to
    of handing out Internet suffixes.        not be able to afford an expensive          Indian state to halt acquiring land for a        It is most likely that the government     ment clearances, projects run the risk
    ICANN, which has board mem-              suffix. But an entrepreneur or a                                                                                                                                                     persuade ruling-coalition lawmakers to
                                                                                         proposed $12 billion steel plant to be        in Orissa, a poor eastern state, will try    of inviting the wrath of local residents.     accept a plan to double the nation’s five
    bers from every inhabited conti-         trade group might, and it could sell        built by South Korea’s POSCO, further         to negotiate with protesters and offer       Without the consent of local villagers,
    nent, was a way to take the              individual addresses ending in                                                                                                                                                       percent consumption tax over five
                                                                                         delaying the biggest foreign direct           better terms for their land.                 it is difficult to acquire land.”             years to improve its finances and rein
    administrative burden off the US         “.flowers” for $10 or $100 a pop. A         investment in Asia’s third largest econ-         POSCO’s India vice president, Vikas          The plant was to have come on
    government.                              successful suffix owner could                                                                                                                                                        in a huge debt.
                                                                                         omy.                                          Saran, said he had not been told of the      stream in 2011, but Orissa’s govern-
       ICANN was always supposed to          make millions, much more than                  The project by POSCO, the world’s          decision by the state, while a Seoul-        ment has only just started acquiring the                          Also:
    expand the number of available           what it pays in application and             third biggest steel company, is the most      based spokesman for the firm said the        land. POSCO needs 4,000 acres (1,600          BEIJING: China is willing to help
    Web suffixes. But the progress was       annual fees.                                high-profile of numerous industrial           project would go ahead.                      hectares) for the mill, which will ini-       European countries realise stable eco-
    slow because of concerns that new           When two or more groups have a           plans delayed because of protests over           “There is no change in our stance on      tially produce 4 million tonnes of steel      nomic growth, China’s Foreign
    ones could infringe on trademarks,       legitimate claim to an address,             land, which analysts warn could hurt          the project. We will proceed with the        a year.                                       Ministry said on Tuesday ahead of a
    be obscene or give a platform to         ICANN expects them to work it out           economic growth and worsen a current          project,” the spokesman said, adding            For the past six years the project has     visit by Chinese Premier Wen Jiabao
    hate groups. Competing interests         on their own. If they can’t, the non-       account deficit.                              that it expected the Orissa government       been bogged down by protests, envi-           to Hungary, Britain and Germany
    wrestled with ICANN over guide-          profit will auction the suffixes.              “It has been halted is   to continue talks with residents over        ronmental concerns and inquiries into         this week.
    lines.                                      “Things are going to have to be          because of the so-called protests,” said      land acquisition. POSCO is free to start     alleged illegalities at a related mining         “The Chinese government has
       ICANN has come up with proce-         decided, like ‘Who’s a better               S.K. Chaudhuri, the top official in the       work on the 2,000 acres of land it           concession. Green clearance from the          already taken a series of proactive
    dures for any party to object to         guardian for .golf?’ The PGA or             district where the land is being              already has.                                 Environment Ministry in New Delhi             measures to push Sino-Europe trade
    applications for trademark, or other     some global group?” said Jeremiah           acquired in the east Indian state of                                                       only came in January.                         and economic cooperation, such as
    reasons.                                 Johnston, chief operating officer at        Orissa.                                                      Paralysis                        India’s economy is widely expected         buying euro bonds,” ministry
       Internet addresses, technically, which helps companies                “We are waiting for further instruc-          As its economy slows on a combina-        to slow in the current fiscal year that       spokesman Hong Lei told a regular
    known as domain names, tell com-         resell domain names.                        tions from the (state) government,” he        tion of high inflation and interest rates,   ends in March 2012, but Singh’s gov-          news briefing when asked about
    puters where to find a website or           Sedo brokered the sale of                told Reuters.                                 policy paralysis and global uncertainty,     ernment has been hit by policy paraly-        China’s view of the Greek debt cri-
    send an email message. Without  late last year for $13 mil-            The explosive issue of land acquisi-       India has never in two decades so need-      sis from a series of corruption scan-         sis.
    them, people would have to               lion, a record for a domain name.           tion, key to India’s industrialisation        ed foreign direct investment.                dals and has done little to boost senti-         “China is willing to continue helping
    remember clunky strings of num-          Despite the availability of new suf-        drive, has often pitted poor farmers             But as the government pushes for          ment.                                         European countries realise economic
    bers such as “”              fixes, Johnston doesn’t expect the          against the private sector.                   highways, power plants, steel mills and         The country faces a widening of its        growth in a stable manner through
    instead of “”                     value of existing “.com” names to              The government of Prime Minister           ports, it has come across stiff resistance   current account deficit as foreign            cooperation with relevant countries,”
       But the addresses have grown to       diminish. That’s based on the limit-        Manmohan Singh has dithered on                from poor farmers who are worried            investment declines and its import bill       he added, without elaborating.
    mean much more.               ed number of additions to the sys-          which way to go, not wanting to alien-        about their future after their lands have    rises. Top executives and bankers warn           Wen’s latest visit to Europe from
    has built its brand on one, and blog-    tem since 2000.                             ate a core electoral base but at the same     been taken over for these projects.          that without reforms, India could see an      June 24 to 28 will come months after
    gers take pride in running sites with       “Even though the new exten-              time keen to push India’s economic               “It is a setback for foreign invest-      economic slump that would be difficult        he visited France, Portugal and
    their own domain names, unclut-          sions come around, the ones that            growth to double-digits.                      ment. And that is the reason many for-       to recover from.                              Spain, and offered to help European
    tered by the names of hosting serv-      are most rooted and most popular               Thousands of villagers have protest-       eign steel companies are entering India         POSCO is the only one of numerous          economies overcome their debt-driven
    ices.                                    in the minds of consumers, their            ed against the Orissa state taking over       through joint ventures with Indian           high profile projects that have been          crises.
       The address expansion could           value has only gone up,” Johnston           land for the POSCO plant, with women          companies. It becomes easier to over-        held up on protests. ArcelorMittal and           The debt crisis afflicting Greece and
    create new opportunities for com-        said.                                       and children forming human rings              come regulatory hurdles,” a Mumbai-          Tata Steel too have faced similar             weighing on the euro is likely to over-
                                                                                         around the site this month after the          based analyst, who declined to be            delays.                                       shadow his visit. .

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