France complains of brain-drain: France's best and brightest professionals are fleeing to the United States in search of jobs more lucrative than those they can find at home, The Washington Times has said. In an article published on Thursday, the paper said an estimated 50,000 graduates of France's top schools, mostly in the field of science, leave the country every year. Expressing fears over this brain drain, an economist and university professor in France, Christian St. Etienne, said about 40,000 to 50,000 hyper-qualified people were feeling while another 100,000 foreign workers without qualifications were coming into the country.Philips to increase exports: The global electronic giant Philips is in the process of increasing its exports from its Indonesian units in a bid to maintain the employees during the current economic crisis. Philips, a Dutch company, operating here since 1950s, would increase its exports from the current 40 per cent to 70 per cent and for that the companywill rehire half of the 600 employees it had temporarily laid off following the crisis, company's chief executive (Indonesia), Remco DM Monfils has said.
China rustbelt city to sell firms: China's Shenyang is making investors an offer the ailing rustbelt city hopes they can't refuse: own a former state-owned company for just one yuan. The deal is one of the "unprecedentedly favourable policies" the city in northeastern China has worked out for the sale this weekend of 50 state-owned medium and small enterprises, Xinhua news agency reported on Sunday. Those firms whose net value have been assessed at zero or negative will be priced at one Chinese yuan, it said.
China's bid to join WTO progressing: Even as the deadlock between China and the United States on Beijing's early accession to the World Trade Organisation (WTO) continues, a senior Chinese leader has warned that China's exclusion from the world body will hamper its ability to play its full global role. China, now the world's tenthlargest trading nation, remained "positive" about joining the WTO and planned to continue the step-by-step process of trade reforms to obtain the WTO membership it has sought for 11 years, vice-premier Li Lanqing said here this week.
Timah remodelling seen good: Indonesian mining company PT Tambang Timah's restructuring programme will boost its performance but benefits from the plan will not be seen this year, analysts said at the weekend. Tambang Timah, world's largest integrated tin producer said that it had proposed the restructuring programme to shareholders. Under the plan, Tambang Timah would become a holding company that would supervise its 10 subsidiaries and other units involved in exploration, shipping and investment.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
