document.writeln("

China says calls for currency float politically motivated
Beijing: China's central bank chief has said that calls from abroad for its currency to float as a way to cut its trade surplus are politically motivated.

Zhou Xiaochuan, governor of the People's Bank of China, said the renminbi's importance in the global economy had been exaggerated, the Financial Times reported Wednesday. In fact, he said, Beijing was moving to cut its trade surplus by stimulating domestic consumption and reducing investment.

According to the governor, China's central bank wants first of all to arm the nation's financial institutions and enterprises with the skills to manage the greater exchange rate risks that will come with increased flexibility to the renminbi.
Back to News Review index page  

Microsoft, AT&T in five year partnership
Chicago: Microsoft Corp. and New Jersey's AT&T Corp. will jointly develop new conferencing, messaging and document-management services for businesses.

Among capabilities envisioned by the five-year partnership is real-time collaboration on word processing documents by remote colleagues.

The new services will merge Microsoft Word and Excel, with AT&T's Voice over Internet Protocol or VoIP network. VoIP sends voices over the Internet.
Back to News Review index page