California may lose 'tech hotbed' position
Silicon Valley: According to a report in the Los Angeles Times, a report by the Milken Institute, a California-based think tank says that although California remains a hotbed of technological activity, its ability to attract academic research and development funds has declined in recent years.

The institute warns that California has begun to lag behind other states in terms of nurturing entrepreneurs, attracting research and development investment and educating its young people.The new engine of regional economic prosperity is based upon how successful that location is in attracting and expanding science and technology assets and leveraging them for economic development, the study said.
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China's foreign debt jumps 13 pc in 2003
Beijing: China's foreign debt has risen 13 per cent last year to $193.6 billion.After Japan, China has the world's second largest foreign reserves - $415.7 billion at the end of January, and Beijing has assured that they are sufficient to cover its external borrowings.

China's economic growth of 9.1 per cent last year and its relatively high interest rates are the key reasons behind the surge in foreign debt.
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