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Major Dubai drive to woo Asia investments

Major Dubai drive to woo Asia investments Dubai's government has started a push to attract direct investment from Asia's manufacturers, as it tries to broaden its economic base. "We believe manufacturing should play a role in our economy. We don't believe Dubai should depend only on services," said Arif Mubarak, director of the Asia Pacific Region for the Dubai Development and Investment Authority. The government body has just opened an office in Hong Kong, its first in Asia, and also plans to open offices in London and New York. "Asia is known for its manufacturing. That's why we want to come to this

Autos drive European shares down

Autos drive European shares down European shares ended lower on Friday but U.S. data showing strong economic growth and softer inflation helped the market pare losses from car and technology stocks after disappointing earnings. A below-forecast profit rise pounded Volkswagen shares 5.4 percent lower, dragging down the sector, while a lower-than-expected profit and forecasts from tech bellwether Microsoft hit European peers such as SAP. But pharmaceutical stocks shone for a second session as a panel of European experts backed the use of Sanofi-Aventiss anti-obesity pill Acomplia, the French groups biggest new drug hope, while GlaxoSmithKline basked in broker upgrades a day after the

Asia should co-operate in Intellectual Property: Sibal

Asia should co-operate in Intellectual Property: Sibal NEW DELHI: As intellectual property (IP) protection is critical in harvesting benefits of innovations, there is a need for co-operation in the entire Asian region on this and India is willing to share its expertise with others, Science and Technology Minister Kapil Sibal said on Tuesday. "In order to deliver meaningful results for our citizens, ultimately we must strive for a viable intellectual property market within India and the rest of Asia as well," Sibal said at the Microsoft Government Leaders Forum - Asia. This was needed because IP protection had been a critical

Around Asias Markets: Real estate makes a charge in Indonesia

Around Asias Markets: Real estate makes a charge in Indonesia Indonesian property stocks were the nations worst performers in 2005. This year, theyre leading gains in Southeast Asias fastest-rising market. The Jakarta Stock Exchange Construction, Property and Real Estate Index has surged 51 percent in 2006, outperforming the 32 percent advance of the benchmark Jakarta Composite Index. Developers such as Ciputra Surya and Summarecon Agung are rebounding on investor expectation the central bank will keep cutting interest rates following a reduction this week. Investors are jumping into an industry that is playing catch-up as real estate stocks

Indian shares up 1 pct on firm Asia

Indian shares up 1 pct on firm Asia Indian shares rose on Thursday, tracking mostly firm Asian markets, as investors bought software firms and auto makers, but high oil prices and worries about firmer interest rates appeared to cap the upside. Oil hovered under $76 a barrel as a tropical storm strengthened and headed toward the Gulf of Mexico. That boosted shares of Oil and Natural Gas Corp. more than 1 percent to 1,206.70 rupees. Drug maker Ranbaxy Laboratories Ltd. jumped more than 4 percent to 392.75 rupees after a U.S. federal appeals court invalidated a secondary Pfizer patent, paving the way for an