Global
Business |Update|
(A weekly update on Global Business )
Skyline Business School
Hauz Khas Enclave, New Delhi 110 016
Tel: 2686 4848, 2686 6968
Issue 3
A.
Global Environment
1.Nuclear deal
boosts Indian shares
Indian shares jumped to record highs after a US agreement to share civilian
nuclear technology and fuel. Bombay's benchmark Sensex index rose 0.6% to a
record closing level of 10,627 after briefly passing 10,700. There were big
gains across the index, particularly power generators and equipment firms like
Bharat Heavy Electricals and Tata Power. Investors bought in to construction and
energy firms in the hope that they will get work building nuclear power plants.
Market sentiment was also boosted because investors felt the nuclear agreement
was an endorsement of India's emergence as a global economic power. "The
nuclear deal is encouraging, because it seems like the US agreed to it without
India having to give up or give in too much," Rajesh Jain, chief executive
of brokers Pranav Securities, told the BBC. "It is a confirmation of India
as a global economic and political entity in the larger scheme of things and
companies stand to benefit from it." Nuclear energy is seen as a vital
source of power for the country's rapidly growing industries. The nuclear deal
was announced during US President George W Bush's first visit to India.
BBC.com 02 march 06
2.Japan
rejects
China gas proposal
Japan has rejected a Chinese proposal to jointly develop gas fields in a
disputed area of the East China Sea. "This proposal is something that is
not acceptable," Chief Cabinet Secretary Shinzo Abe said on Wednesday.
China and Japan have recently held talks aimed at resolving their conflicting
claims to the rich oil and gas deposits near their sea border.
Little progress was made during the talks, but the Japanese left promising to
consider the Chinese proposal. Japan and China have long had overlapping claims
in the East China Sea. China refuses to recognise Japan's off-shore border,
believing its own territory runs further east to the edge of the continental
shelf. The area is believed to contain large reserves of natural gas and neither
side can agree on who should extract them.Relations between the two countries
are already poor, with disagreement over the gas fields being only one of series
of disputes. There is also continuing tension over Japan's war record in the
region and China's growing military power.
BBC.com 08 march 06
3.Euro
rates up on inflation fears
The European Central Bank has raised its key interest rate to 2.5%, in response
to a strengthening eurozone economy and fears of growing inflation. The
quarter-point rise from 2.25% is the second in four months, after the bank had
held rates steady at 2% for more than two years. Last month, ECB President
Jean-Claude Trichet said the bank would remain "vigilant" on
inflationary pressures. He said the ECB had to ensure economic growth did not
affect price stability. Persistently high oil prices have posed the most
significant threat to inflation. The eurozone's economic outlook for 2006 is
mixed, but some of its largest economies, including France and Germany, are
expected to gain momentum, with reports indicating that business and consumer
confidence is running high. In its last forecast the ECB predicted economic
growth of 1.9% across the 12-member eurozone bloc in 2006, compared with 1.4%
last year. Many investors and analysts expect the bank to raise the key interest
rate again this year, especially as rates in the US and other regions are much
higher. But there are still concerns that raising eurozone rates too soon, or
too aggressively, could hamper Europe's economic recovery just as it is
gathering momentum.
BBC.com 02 march 06
4.US
government near to debt limit
US Treasury Secretary John Snow has told Congress to raise the government's
credit limit in order to avoid having some of its operations shut down. The
government needs Congressional authority to borrow and the total accumulated
debt is now close to its limit of $8.2 trillion (£4.7 trillion). If the limit
is not increased, the government could find it difficult to pay debts or borrow
money. Congress is expected to agree to an extension, averting any debt crisis.
In a letter to Congress, Mr Snow said he has already taken "prudent and
legal actions" to avoid reaching the debt limit. These include tapping the
civil service pension funds and using the $15bn in the Exchange Stabilisation
Fund, a reserve held for smoothing out volatile movements in the value of the
dollar in currency markets. But the Treasury has warned that such measures will
only postpone the credit deadline until mid-March, when an extension will be
needed. This is the fourth time George W Bush's administration has asked
Congress to raise the government debt limit. His administration has produced a
series of massive deficits, brought on by the post dot-com recession, tax cuts,
the September 11 attacks and wars and reconstruction in Afghanistan and Iraq.
The US government has never defaulted on its debts, and to do so would destroy
its credit rating and raise the cost of any future borrowing.
BBC.com 06 march 06
5.China
'to dwarf G7 states by 2050'
BBC.com 03 march 06
6.India
courts more US investment
India has urged US business leaders to up investment in the country, stressing
that foreign capital has a key role to play in its economic development. Finance
minister P Chidambaram said India needed US money, technology and management
expertise to help it fulfil its true growth potential. The two nations discussed
ways of deepening economic ties on the third day of President Bush's visit to
India. US firms have invested $5bn (£2.8bn) in India since the start of the
decade. Microsoft, Dell and Intel have all announced major investments in India
in recent months, reflecting global business confidence in the continued
strength of the Indian economy. Mr Chidambaram said US investment could help to
create jobs, improve the country's infrastructure and make India more globally
competitive. "Let me tell you, we want your money," he told business
leaders accompanying President Bush on his visit. "I want your technology
also. I want your good management policies and good governance norms." Last
month, New Delhi agreed to open up its retail and energy markets to more foreign
investment despite strong opposition from Communist politicians, minority
partners in the coalition government. Mr Chidambaram said the government was
determined to proceed with economic reforms and was "confident" that
it could secure legislation to allow more foreign investment in areas such as
insurance. "This is a very different India from what we were 20 years
ago," Mr Chidambaram added. "In the next 20 years, we will all be the
more different. All these are opportunities which beckon investment." US
politicians continue to fret about jobs being lost to lower-cost countries in
the sub-continent through outsourcing. Outsourcing is expected to generate $22bn
in income for India this year.
BBC.com 03 march 06
7.Japan's
PM sees end to deflation
Japanese Prime Minister Junichiro Koizumi says he believes an end to deflation
in Japan's troubled economy is finally in sight. "We are seeing signs of
getting out of deflation," Mr Koizumi told a parliamentary committee on
Friday. His comments have raised expectations that the central bank will soon
stop flooding the market with cheap credit. Japan could be finally winning a
near eight-year-old struggle with falling consumer prices. Mr Koizumi's latest
comments are the most upbeat yet, as previously he had insisted that it was too
soon to say whether Japan had recovered from deflation. Latest figures show that
Japan's core consumer prices have risen for the third month running, prompting
the PM's statement. However, economic ministers have urged caution for fear that
a premature move by the Bank of Japan could jeopardize the economy's recovery.
Finance Minister Sadakazu Tanigaki said Japan was still experiencing "mild
deflation", an opinion backed up by Economic and Fiscal Policy Minister
Kaoru Yosano.
BBC.com 03 march 06
Global
Corporate
8.AT&T
merger to claim 10,000 jobs
Telecoms giant AT&T has said it expects to cut 10,000 jobs following its
$67bn (£38.2bn) takeover of rival BellSouth. The US operator said the staff
cuts would be made by 2009 in a move to reduce costs at the combined group. The
new cuts are in addition to 13,000 job losses over three years already announced
by AT&T, following a previous US telecoms merger. AT&T said on Monday
that it would buy BellSouth, creating a US sector giant with a market
capitalisation of $165bn. The deal also gives AT&T full ownership of
Cingular Wireless, America's biggest mobile phone firm, catapulting the combined
group ahead of its nearest US rival, Verizon Communications. Analysts broadly
welcomed the news of AT&T's bid, although some questioned whether the
company was paying too much for BellSouth. Texas-based AT&T currently
employs about 190,000 people, while BellSouth, which has its headquarters in the
state of Georgia, employs about 63,000 staff. If, as is expected, regulators
approve AT&T's bid, the takeover will see BellSouth return to its old
stable.
BBC.com 07 march 06
9.GM
to reduce its stake in Suzuki
Struggling US car giant General Motors (GM) is to sell 17.4% of its stake in
Japanese firm Suzuki. The sale, which will reduce GM's share in Suzuki to 3%,
should produce about $2bn (£1.1bn) in much needed funds to aid GM's ongoing
turnaround efforts. GM, which last year sold off its 8.7% stake in fellow
Japanese carmaker Subaru, made a loss of $8.6bn in 2005. Detroit-based GM has
been hit by falling sales, and in January it announced plans to cut 30,000 jobs.
GM and Suzuki said on Monday that the two companies would continue to work
together. "We've been under the support of GM for a long time, and this
time it's our turn to help GM," said Suzuki chief executive Osamu Suzuki.
"I don't think the partnership is in deep trouble. It's just that GM needs
help." Analysts said they expected GM to maintain its final 3% stake in
Suzuki. "They've had a relationship for a long time, and they need each
other," said car sector analyst Koichi Sugimoto of Nomura Securities.
"Splitting up would have been negative for both sides." Suzuki and GM
have had a partnership since 1981. GM aims to cut 30,000 jobs and close 12 North
American factories by 2008.
BBC.com 06 march 06
10.US
examines fresh Dubai takeover
Security concerns have been prompted in the US by the takeover of a second
British firm by a Dubai-based company. The Doncasters Group, which has nine US
facilities manufacturing precision parts for defence contractors, is being
bought by Dubai International Capital. The news follows a fierce political row
sparked by the takeover of P&O's operations at six American ports by a
company from the United Arab Emirates. An Israeli firm is also being
investigated by US congressmen. The US Congress is not usually told about - and
has not generally been interested in - ongoing investigations by the committee
on foreign investment. But in the wake of the unresolved row over the Dubai
Ports World deal, the committee, it seems, has decided now to keep Congress
better informed of other investigations. The London-based Doncasters Group makes
precision parts for major defence contractors like Boeing, Honeywell and General
Electric. The parts are used in military aircraft and tanks.
BBC.com 02 march 06
11.Google's
latest goof
Search engine Google disclosed in a filing with the Securities and Exchange
Commission late Tuesday that statements about sales projections were
inadvertently posted on the company's Investor Relations Web site during its
analyst day presentation on March 2. The company said in the filing that slides
showing that Google expected revenue to grow from $6 billion in 2005 to $9.5
billion this year and that profit margins in its AdSense business would "be
squeezed in 2006 and beyond" were part of notes prepared during the fourth
quarter of 2005 for an internal strategy presentation and were erroneously
included in a slide accompanying the analyst day Webcast The company's
disclosure snafu is the latest in a series of problems that the company has had
communicating with Wall Street. Shares plunged last week after chief financial
officer George Reyes said in a presentation at a Merrill Lynch Internet
conference that growth in the company's core business of search-based
advertising was starting to slow. The company later clarified that statement to
say that it still saw "significant opportunities" for revenue
growth.Google also said in Tuesday's filing that comments about the company's
stock-based compensation charges for 2006 should not have been included in the
presentation. But Google said that the information in that particular slide,
namely that the company would need to take a charge of $342 million related to
stock awards granted to employees and directors prior to this year, was
"materially accurate."
Cnnmoney.com 08 march 2006
12.Tanzi:
Forgive me, banks to blame
Parmalat founder Calisto Tanzi addressed a Milan court Tuesday for the first
time since his trial began last year, begging forgiveness but blaming banks for
the deals that prompted the dairy group's slide into insolvency.Tanzi and 15
other former Parmalat executives face charges in Milan including market-rigging,
false auditing and hindering the work of regulators.The main Milan trial -- one
of a string of Parmalat cases -- also includes the Italian office of accountants
Deloitte & Touche and Grant Thornton's former Italian unit, charged with
helping Parmalat's former management mislead investors."Parmalat ... had a
relation with its banks that was one of addiction," Tanzi said in a 16-page
statement read out in court, reconstructing the events that led to Parmalat's
2003 collapse."The lenders themselves, the investment banks, were the ones
who chased us, promising the group all the money it needed, even though the
accounts were not entirely transparent and despite the fact we were constantly
asking for debt while stating we had consistent liquidity."Tanzi was one of
Italy's best-regarded businessmen until Parmalat's 2003 collapse, having built
his father's delicatessen into a dairy multinational spanning 30 countries. He
was arrested after Parmalat's insolvency but later released.
Reuters.com 08 march 06
13.VW
'doomed' without big cost cuts
Volkswagen is doomed unless unionized workers at its expensive German plants
accept sharp cuts in costs and jobs, Europe's largest car maker said on
Tuesday."There is no alternative for our group," embattled Chief
Executive Bernd Pischetsrieder said, sticking to his hard line despite a
boardroom split between shareholder representatives and labor leaders who have
half the seats."Unless in particular the traditional German plants are
restructured, no long-term future for the Volkswagen Group would be conceivable,
even if all the other parts of the Group reach their earnings targets,"
finance chief Hans Dieter Poetsch said.The standoff in Volkswagen's supervisory
board has raised questions about whether Pischetsrieder will keep his job beyond
next year, but he showed no signs of backing down on a revamp that has made
Volkswagen a top restructuring play for investors."I would like to lead the
company to success together with my colleagues," he told a news conference.
He acknowledged he needed staff support but said the debate about his role
should be conducted by the supervisory board, not in public. Pischetsrieder
added he was confident Volkswagen would achieve its 5.1 billion euro ($6.10
billion) pretax profit target in 2008.
Reuters.com 07 march 06
14.Enron
bosses 'hid massive losses'
Enron's former chief financial officer has testified to setting up partnerships
designed to help the firm hide losses of millions of dollars. Andrew Fastow took
the witness stand at the trial of ex-Enron bosses Jeffrey Skilling and Ken Lay.
The two deny multiple charges of conspiracy, fraud and insider trading linked to
the collapse of the US energy firm in December 2001. Mr Fastow has already
pleaded guilty to conspiracy and faces 10 years in jail. His intimate knowledge
of Enron's finances make him a key witness for the prosecution. Mr Fastow said
the "LJM" partnerships - the initials are those of his wife and
children - were used to buy poorly performing investments from Enron and
disguise losses from investors and analysts. "We were doing this to inflate
our earnings, and I don't think we wanted to show people what we were
doing," he told the court. He said Mr Lay and Mr Skilling signed off the
deals and encouraged his activities. He described how Mr Skilling urged him to
use one of the partnerships to buy a minority stake in a Brazilian power plant
owned by Enron because Enron's South American unit was struggling to meet its
earnings target.
BBC.com 07 march 06
Global
Finance
15.BoJ
meeting puts damper on Nikkei
Japanese stocks fell Wednesday morning as traders were cautious ahead of a Bank
of Japan meeting that has raised speculation that the bank could tighten its
super-easy monetary policy. The dollar was lower against the yen.The benchmark
Nikkei shed 68.23 points, or 0.43 percent, to 15,657.79 points on the Tokyo
Stock Exchange. The index lost 175.14 points, or 1.10 percent, the day
before.The broader Topix index, which includes all issues on the exchange's
first section, lost 7.49 points, or 0.46 percent, to 1,610.38 points. The Topix
lost 8.59 points, or 0.53 percent, Tuesday.Stocks opened lower as traders
awaited the central bank's two-day meeting starting Wednesday afternoon, where
the bank's five-year easy monetary policy, known as quantitative easing, may be
scrapped. Traders also sold off high-tech stocks after four straight sessions of
falls on the Nasdaq overnight in New York.On Tuesday in New York, stocks closed
mostly mixed on resurgent fears of rising interest rates. Investors sold as bond
yields remained high, government data showed wages rising and a U.S. Federal
Reserve official warned more interest rate hikes might be needed.Wall Street was
nervously watching the U.S. Treasury market after yields surged Monday to their
strongest level since June 2004, pushed up by investor worries about inflation
in the United States and rising interest rates in Japan and Europe. The yield on
the 10-year Treasury note Tuesday fell to 4.73 percent from 4.74 percent late
Monday.
Cnn.com 08 march 06
16.Techs
tumble Tuesday
Market struggles, with the Nasdaq hit the hardest as Texas Instruments drags on
tech, interest rate worries abound.Techs tanked Tuesday, dragging down the
Nasdaq composite and keeping the broader market from making much headway. The
Nasdaq composite down to 2,268.38,) lost around 0.8 percent, dragged down by the
influential chip sector.The Dow Jones industrial average (up 22.10 to 10,980.69,
Charts) added 0.2 percent while the broader Standard & Poor's 500 (down 2.38
to 1,275.88, Charts) index fell 0.2 percent.
Texas Instruments' less bullish than hoped for forecast provided the catalyst
for investors to bail out of chips and a variety of other tech shares. Meanwhile
oil and home building stocks continued to suffer profit taking after the recent
run up.Ongoing worries about a jump in bond yields also played a role, although
the Treasury market stabilized a bit Tuesday after the yield on the 10-year note
hit a 21-month high.The Texas Instrument news is "tapping into anxiety
about the tech cycle slowing down," said Ned Riley, chief investment
strategist at Riley Asset Management, particularly as it follow's Intel's recent
warning.At the same time, the rise in long-term bond yields is getting in the
way of the stock market, Riley added.
Cnn.com 08 march 06
17.'Bubble
builds' in Russian market
The Russian stock market's meteoric rise over the last year may have reached a
ceiling and fears are growing that a financial bubble is forming. With Moscow's
benchmark RTS having risen 83% over the last year, the government now believes
that prices are at dangerously unsustainable levels. An huge influx of foreign
pension funds and surging Russian oil revenues have driven the stock market's
record rise. Growth in shares of energy firms has been a particular source of
concern. "We are very afraid that a so-called bubble is being
created," said Russia's economy minister, German Gref. "We need to
keep our finger on the pulse of key companies to be sure that investor optimism
does not lead to a collapse." Last month, Russia's stock market regulator
secured backing from the Kremlin for a series of reforms designed to cool down
the current boom in share prices. This followed a warning from the head of
Russia's Federal Financial Markets Service, Oleg Vyugin, who said that the
current level of share prices was unsustainable. His reform strategy includes
more pension fund investments and extra safeguards against insider trading.
Analysts said Moscow wanted more stable markets ahead of future privatisations.
A wave of market flotations are expected this year, including the keenly-awaited
float of Russia's Rosneft oil group.
BBCnews.com 08 march 06
18.Beware
the hikes of March
Wall Street is spooked by the possibility of more interest rate increases this
year. What's an investor to do?Interest rates. They're like a bad song that gets
stuck in your head after you hear it on the radio -- and try as they might,
investors just can't stop thinking about them. The Federal Reserve is widely
expected to boost rates for a fifteenth consecutive time, to 4.75 percent, when
it meets later this month. And many market observers are predicting a
not-so-sweet sixteenth rate hike when the nation's central bank meets again in
May.Since the Dow Jones industrial average hit a four-year high nearly two weeks
ago, stocks have fallen on investor worries about rising rates."One of the
main drivers right now for the market is this worry about interest rates,"
said Brian Stine, investment strategist with Allegiant Asset Management Co. in
Cleveland.Investors typically don't like rising rates, even though they are
usually a signal of a growing economy, because they boost borrowing costs for
corporations, which can erode profits. For this reason, investors often won't
bid up stocks in a rising-rate environment."Corporate earnings may slow
down and with the Fed poised to raise rates at least one if not two more times,
a lot of equity investors are cautious and waiting to see how first-quarter
earnings will be," said John Norris, chief economist and senior fund
manager with Morgan Asset Management in Birmingham, Ala. "That could be a
reason why stocks are taking it on the chin."
March 7, 2006 CNNMoney.com
Global
Outsourcing
19.Outsourcing
seen surging ahead despite political turmoil
AMID recent political troubles, the Philippine outsourcing
industry is expected to surge ahead, a Canadian-based information technology
research firm said. "The administration of President [Gloria] Macapagal-Arroyo
has seen its share of political instability over the last five years. The most
significant of these was the Oakwood Mutiny of July 2003. Like most social
movements manifesting unrest towards government policy, the Oakwood Mutiny was
originally perceived to have long-term drastic effects in the economy. This was
eventually proven to be untrue for the local and offshoring IT industry in this
country as the resilience of Philippine society prevailed in succeeding years.
Our analysis showed renewed growth for the remainder of 2003 and the event being
relegated to being a mere nuisance," said XMG Inc. in a statement.The IT
research firm added that the recent declaration of "state of
emergency"--since lifted--and a standoff at the Philippine marine
headquarters has "no fundamental negative effects to economic growth"
of the country.Short-term business sentiment, however, will be moderately severe
but would recover swiftly in less than a year, barring further political unrest
under the Arroyo government, the IT firm said.
Mar 05, 2006 INQ7.net
20.Bush
defends outsourcing to India
US President George W. Bush on Friday strongly defended the outsourcing of jobs
from the United States, saying that the US should welcome rather than fear
competition from India."People do lose jobs as a result of globalisation,
and it's painful for those who lose jobs. But the fundamental question is, how
does a government or society react to that. And it's basically one of two ways.
One is to say, losing jobs is painful, therefore, let's throw up protectionist
walls. And the other is to say, losing jobs is painful, so let's make sure
people are educated so they can find, fill the jobs of the 21st century,"
President Bush said at an interactive session with young entrepreneurs at the
Indian School of Business.He said that the best way to manage globalisation and
the consequent loss of jobs, was the "make sure that there's pro-growth
economic policies in place". "What does that mean? That means low
taxes; it means less regulation; it means fewer lawsuits; it means a wise energy
policy," he said. President Bush said he had taken the position that the
United States will reject protectionism. "We won't fear competition, we
welcome competition, but we won't fear the future, either, because we intend to
shape it through good policies," he said."And that's how you deal in a
global economy. You don't retrench and pull back. You welcome competition and
you understand globalisation provides great opportunities. And so people in
America should, I hope, maintain their confidence about the future," he
said.
The Asian Age 5th march 06
21.
Accenture and Microsoft sign five-year BPO agreement
The contract builds on an existing relationship where Accenture has provided IT
support and consulting services to Microsoft in Dublin for more than 15 years
Accenture and Microsoft sign five-year BPO agreement Accenture will provide
Microsoft with credit and collection services in Europe, the Middle East and
Africa (EMEA) under a five-year business process outsourcing contract the two
companies signed recently. Financial details of the agreement were not
disclosed. Under the terms of the contract, Accenture will manage the processes
associated with receivables and collections from Microsoft's business customers
and channel partners throughout EMEA. Accenture will also provide support for
Microsoft's credit analysis, cash application, customer data management and
associated business intelligence reporting processes. The technology supporting
the services consists of a sophisticated suite of enterprise resource planning (ERP),
invoicing and receivables management applications all running on the latest
Microsoft platform. The services will be delivered in a total of 15 languages
and be provided by Accenture Finance Solutions, an Accenture business that
provides finance and accounting services to businesses and governments on an
outsourced basis.
Offshorexperts.com 01 march 06
22.Outsourcing
budgets of cos to increase by 20% in '06: Survey
A survey of top decision-makers on corporate technology and spending found that
89% plan to increase their outsourcing budget over the next one year.
Specifically, 39% responded saying they expect to increase budgets by up to 20%
over their current spending while 11% planned a 50% increase or more. The survey
was conducted at Patni Computer Systems’ annual user conference, PatniConnect,
which brought together more than 100 global CIOs and business leaders from the
company's customer base in the USA, UK and Asia Pacific regions, along with
pre-eminent industry analysts and professionals. The survey found that pricing
is not the most important factor in selecting an outsourcing partner. Cultural
fit (24%) and quality of service (24%) tied as the number one factor, followed
by domain expertise (19%). Only 14% of respondents selected price as their
single most important factor in selecting an outsourcer. When asked what their
top expectation is from an outsourcing relationship, 61% said they expected
better quality resources and enhanced services at a lower cost while 28% cited
better insight and manageability of costs.
23.
The Economics of Outsourcing: How Should Policy Respond?
Outsourcing is a central element of economic globalization, representing a new
form of competition. Responding to outsourcing calls for policies that enhance
national competitiveness and establish rules ensuring acceptable forms of
competition. Viewing outsourcing through the lens of competition connects with
early 20 th century American institutional economics. The policy challenge is to
construct institutions that ensure stable, robust flows of demand and income,
thereby addressing the Keynesian problem while preserving incentives for
economic action. This was the approach embedded in the New Deal, which
successfully addressed the problems of the Depression era. Global outsourcing
poses the challenge anew and calls for creative institutional arrangements to
shape the nature of competition.
March 2, 2006 Foreign Policy In Focus
Global
Educational
24.
'Scholar Ship' ready to set sail
With the forces of globalization changing the rules of modern business, a
consortia of universities has devised an innovative way to educate executives
about international issues.The group has created a floating campus -- dubbed the
Scholar Ship -- which will transport 700 students around the world as they
complete their studies.Setting off from Athens, Greece in January next year, the
Scholar Ship will visit eight countries during its inaugural 16-week voyage.
Onboard course work will be augmented with shore-based study and field
activities at each port of call. The ship will be operated by cruise company
Royal Caribbean Cruises.The academic curriculum has been designed so that
credits earned during the floating semester can be added to any degree course
already undertaken by each student. Participants are being sought from around
the world to ensure there is a diverse mix in each sailing group.The university
consortia include the Al Akhawayn University of Morocco, the Beijing Foreign
Studies University and Peking University of China, the Tecnologico de Monterrey
University of Mexico, the University of Ghana and the Macquarie University of
Australia. Talks are also under way with interested institutions in the United
Kingdom and the United States.As well as providing a feed of students to the
Scholar Ship, each university will be responsible for monitoring course
standards to ensure they remain consistent with the subjects being offered at
each land-based campus. For executives, the floating school concept provides an
opportunity to undertake an intensive study period that will provide them with
insights and knowledge unlikely to be found in a traditional lecture theater.
07 march 06 Cnnmoney.com
Compiled by Madhur Ajmani
(Faculty Member)
Skyline Business School
Hauz Khas Enclave, New Delhi 110 016
Tel: 2686 4848, 2686 6968
www.SkylineCollege.com