European Central Bank raises interest rates
Frankfurt: To check inflationary trends the European Central Bank raised interest rates by a quarter of a percentage point to 3.75 percent on Thursday and has indicated that it will not be its last in the near future.

The 13-nation central bank may hike rates again though maybe not next month, but probably in the next couple of months on the back of high oil prices, wage increase demands and volatile markets.
The European central bank has raised the key rate seven times since December 2005, when it was 2 percent.

The move means that consumers in the Euro zone will see their mortgage and auto payments rise even as many unions agitate for across-the-board salary increases.

Inflation in the 13 euro nations is estimated at 1.8 percent for February, according to EU data. That was unchanged from January, and below the ECB's just-under 2 percent guideline.
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Gates wants no limits on H-1B visas
Gates has told the Senate Health, Education, Labor and Pensions Committee in the US that there should not be any limit" imposed on H-1B visas. Gates said he believes there should be no limit, because skilled workers rejected by the US are creating job opportunities in competing countries.

He also said he wants the federal government to spend more on basic scientific research and said the nation should double the number of science, technology, and math graduates by 2015.

Members of Congress have largely failed to enact the proposals, citing obstacles including the federal budget deficit and political opposition to loosening immigration laws.

Current US law limits H-1B visas, used for high-skilled foreign workers, to 65,000 a year.
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Carrefour net up 58 pc on extraordinary income
London: Carrefour, the world's second-largest retailer, has registered a 58 pc jump in 2006 profit, on the back of a one-time gain from the sale of its Korean unit.

Excluding this exceptional income, profit rose a more modest 3.3 pc in line with consensus forecasts, as weakness in the retailer's French home market forced it to cut prices, partly offsetting robust growth elsewhere.

Carrefour has posted net profit of 2.27 billion euros ($3 billion), up from 1.44 billion euros a year ago, boosted by the divestment of "insufficiently profitable activities."

Sales rose 6.6 pc to 77.9 billion euros, driven by a strong performance in Latin America and Asia. France, Italy and Taiwan remained disappointing.

The company has proposed a dividend of 1.03 euros a share, up 3 pc compared to 2005. The retailer said it expects 2007 revenue to grow at least as much as in 2006.
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