Japan eyes growth

TOKYO: Japan is expected to report on Tuesday that economic growth accelerated in the January-March quarter as increased corporate and consumer spending offset faltering export growth. The expected strong performance will show a marked pickup from the last three months of 2004, when a series of natural disasters hit spending and dampened sentiment. — AFP

India, Israel trade rises

KOLKATA: Bilateral trade between India and Israel is poised to touch $5 billion annually by 2008, Israeli Ambassador to India David Danieli said, “India and Israel are coming closer in trade and commerce and India has emerged as Israel’s biggest trading partner in Asia since the two nations resumed ties in 1992. — HNS

E-commerce to go up

BEIJING: China’s e-commerce transaction volume is expected to rise by 36 per cent in 2005 to $72 billion. The forecast for this year’s online activity, which is up from last year. The growth is mainly concentrated in the nation’s largest commercial hubs along the eastern seaboard. — AFP

Eurozone inflation

PARIS: Eurozone indicators to be released this week will show that core inflation remains well under control despite the continued impact of high oil prices on headline inflation. In Britain, the coming week is expected to show annual CPI inflation hitting two per cent, the labour market remaining tight and retail sales dropping. — AFP

‘Review currency peg’

KUALA LUMPUR: Malaysia’s seven-year peg of its currency, the ringgit, to the US dollar is coming under increasing pressure for a review amid fears of rising inflation and speculation that the yuan will be revalued. Even the architect of the policy, former premier Mahathir Mohamad, is calling for a change to ensure Malaysia’s economy remains

competitive. — AFP

Toyota, GM to form JV

TOKYO: Toyota and General Motors have agreed to boost their alliance on fuel-cell vehicles after talks between the chiefs of the world’s two biggest carmakers. GM chairman Richard Wagoner met with Toyota Motor president Fujio Cho on Saturday at the company’s headquarters in the central Japanese city of Toyota. — AFP

Biggest pulp factory

YANGON: Myanmar has opened its largest pulp factory, built with Chinese assistance in the Ayeyarwaddy River Delta. The factory, which will produce 200 tonnes of pulp a day, was launched on Saturday in a ceremony attended by premier Lt Gen Soe Win and Chinese officials. — AP

AirAsia to buy engines

KUALA LUMPUR: AirAsia, the region’s top budget carrier, has selected engines made by CFM International to power the 60 Airbus A320 aircraft it has ordered. The deal for the CFM56-586/P engines, each of which has a catalogue price of $9.47 million, would be signed at the Paris Air Show next month. — AFP