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. OnLine 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 “Apple.com” 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. develop. Suffixes 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 agenda. 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 indefinitely...it 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 Sedo.com, 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 Sex.com 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 “184.108.40.206” 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 “ap.org.” 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. Amazon.com 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. .