News Highlights Friday 13 June 2008

Avaya sets up Asian logistics hub here
Communications technology specialist Avaya has established its first Asian supply chain management hub in Singapore, to improve its distribution operations in Asia-Pacific. Headquartered in New Jersey, the new warehousing facility at the Airport Logistics Park of Singapore will be managed by logistics services giant DB Schenker, a subsidiary of German national railway operator Deutsche Bahn. Singapore is also Avaya's regional headquarters, which has 250 staff. The Economic Development Board noted that Singapore is now home to more than two-thirds of the world's most established third-party logistics players.

- The Business Times, P8




May inflation down as jump in food prices eases
China’s annual inflation fell in May to 7.7%, as the surge in food prices ebbed and producers held back from passing on sharply higher energy and raw material costs. CPI inflation should continue to slow through the rest of the year, said an economist in Shanghai. The CPI reading was below forecasts of a 7.9% rise.

- The Business Times, P12




Bright future despite India's uncertainty: poll
Despite inflation, slower growth, rising energy costs and a stockmarket crash, reports suggest the future of the Indian economy looks bright. India is a sought-after destination among high-level expatriates, both of Indian and foreign origin. Indian investors were categorised as the most optimistic in Asia in the first three months of 2008, in a survey by banking giant ING. Indian investors are more willing to play the stock market while reducing illiquid property exposure.

- The Business Times, P13




Rate hike comes too late to halt rupee dip: Calyon
India's interest rate increase on Wednesday has come too late to check a slide in the rupee because of accelerating inflation, according to Calyon. The Reserve Bank raised the overnight lending rate, or the repurchase rate, by a quarter- percentage point to 8%. Inflation quickened to 8.24% from a year earlier in the third week of May. The rate may reach 9.5%, according to Lehman Brothers Holdings Inc, Standard Chartered plc and ICICI Securities Ltd.

- The Business Times, P13


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