Inflation to rise in China

SHANGHAI: Inflationary pressures have been growing in China amid surging economic growth, despite official efforts to tighten controls on the money supply, a vice minister of finance said on Friday. Chinese leaders worry overinvestment by companies in such industries as steel could set off inflation after years of declining prices. — AP

Wipro’s 2:1 bonus shares

BANGALORE: Wipro Ltd has decided to offer bonus shares to shareholders, including holders of its American Depository Shares (ADS), in the ratio of 2:1. In a notification to the stock exchanges, the Bangalore-based IT bellwether also recommended a one-time cash dividend of Rs 25 (IC) per share/ADS on the existing paid-up capital. — HNS

Pakistani sugar for India

ISLAMABAD: Pakistan is eyeing India’s huge sugar market amid reports of India facing a sugar shortage. Referring to reports from India of a fall in sugar production following low sugarcane yield this year, Rafiq Sheikh of Phalia Sugar Mills said, “The Trading Corporation of Pakistan (TCP) can capitalise this opportunity and export its stocked sugar to get a good price.” — HNS

Indian whisky in Scotland

LONDON: Indian whisky will soon send spirits soaring even in the land of the Scotch. Even the Scots may not be able to tell the difference! A Bangalore distillery will begin exporting its own brand of single malt to the British market. The man behind the drink, Rakshit Jagdale, has won European trade clearance to export Amrut single malt whisky into Britain and plans to launch the drink in Glasgow this August. — HNS

Trade meet in Afghanistan

KABUL: Afghanistan is to host a ministerial meeting of the 10-nation Economic Cooperation Organisation (ECO) next week for boosting trade and economic cooperation in the region. The meeting, on April 18 and 19, will be the first international conference in which Afghanistan, Azerbaijan, Iran, Kazakhstan, Kyrgyzstan, Pakistan, Tajikistan, Turkey, Turkmenistan and Uzbekistan will take part. — AFP

Aussie, HK airlines deal

SYDNEY: Tourism has received a major boost from an agreement between Hong Kong and Australia to allow a doubling of flights between Australian centres and the Special Aministrative Region, the government said on Friday. The agreement will mean an immediate increase in flights from 35 to 55 a week between the Hong Kong and Australian centres. — Ap