Magnetic train makers may explore new markets
Pune: It may or may not be true that China's track record in economic reform is better than that of India. But, talking of track... China has racked up a global first with its New Year's eve test run of a magnetic levitation (Maglev) train, across the 30-km separating the Shanghai commercial district from its international airport.

The train, which has come off the production line at the Changchun Passenger Car Plant (CPCP) of the northeast Jilin province, putting China right up there along with Germany and Japan in the use of a technology that uses powerful magnets to hold a train about eight to 10 millimetres above the track and to propel it with minimal vibration and noise.
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NYT revamps operationss as Herald IHT deal completed
New York: The New York Times Co. said on Thursday it completed its acquisition of the International Herald Tribune, and, according to a company memo, will combine that paper's operations with its own international news gathering.

The restructuring aims to better compete in the era of global, 24-hour news, according to the memo.
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Citibank to pick up 5% in Shanghai bank
Shangai: Citibank, a unit of US giant Citigroup, will buy 5% of Shanghai Pudong Development Bank in its first strategic partnership in the potentially huge China market, the Chinese bank said on Thursday.
The acquisition by the banking unit of the world's biggest financial group is one of many Sino-foreign tie-ups in the works as foreign banks ponder alliances in China, hoping to tap a gradually opening market and $1 trillion in personal savings.
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Opec likely to hike oil output
Caracas: Opec may increase oil production by more than 500,000 barrels a day if the strike in Venezuela and the threat of a US attack on Iraq continue pushing up global oil prices, a senior official in the organisation said on Thursday.
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