Current account deficit triples as imports soar India’s current account deficit tripled in the June quarter as imports soared, raising

the spectre of volatile currency when the tide of overseas fund flows turns.

Current account deficit in the June quarter widened to $13.7 billion, from $4.5

billion in the year earlier.

Rising imports are an indication of strong demand that could help the country

achieve 8.5% growth, a sustained deficit could undo the achievements so far.

Net short-term trade credit was $5.6 billion, up from $1.5 billion, in line with

increasing imports.

The overall BO Pended in a higher surplus of $3.7 billion on account of a capital

account surplus of $18.3 billion.Capital inflows improved on back of sharp surge in

short-term trade credits,ECBs, external assistance and banking capital.

CWG may add $5 bn to economy, create 2.5

mn jobs: Govt The government said the ongoing CWG may add about USD 5 billion to the Indian

economy and create about 2.5 million jobs in the next few years.

The 12-day-long games will create a new brand image for India as a global player, helping it strengthen and deepen the business partnership with Commonwealth countries.

The opportunities for business during sports events are very large. The estimates for Delhi infrastructure, sports venues and other necessities stand at close to USD 10 billion.

The business opportunities derived from agriculture in India are enormous and not sufficiently exploited by overseas businesses. India has 14 agri zones and is capable of producing a wide variety of grains, fruits and vegetables.

Two-way trade between India and Commonwealth nations currently stands at about USD 80 billion, which is expected to grow manifold in the coming years.

India's second financial hub in Kolkata Finance Minister Pranab Mukherjee Wednesday laid the foundation stone of the

country's second financial hub, after the Bandra-Kurla Complex in Mumbai , at Jyoti

Basu Nagar in the northeastern fringes of the city.

Spread over 300 acres.

It would entail an overall investment of Rs.16,000 crore.

The hub would play a catalytic role as a gateway to the Southeast Asia.

This hub would generate employment of two lakh people directly and three lakh

indirectly

Europe shares edge up as techs boosted by

Google China's key stock index rose to a five-month intraday high, up more than 2

percent, buoyed by commodity issues such as Baosteel on good corporate earnings

and expectations of another flood of liquidity in global markets.

Marked weakness in the U.S. currency has helped boost commodities such as gold

and oil, which are priced in dollars.

China's stock market is still down 15 percent on the year, after government steps to

clamp down on bank lending and a flood of property controls spooked investors.

Wi-fi in homes can be hacked in five seconds The wi-fi hacking means criminals can spy on the activities of families, perhaps

stealing their identity and banking details to raid their accounts, says a new study.

The hackers could also use the wi-fi access to tap into illegal pornography or upload

and download stolen music and movies without being traced.

Nearly a quarter of private wireless networks have no password attached, making

them accessible to criminals.

There are concerns about the security of those who use free wi-fi networks offered

by coffee shops and other businesses.

Rise of Google Chrome threatens Internet

Explorer, Mozilla Web browser Google Chrome, which emerged in mid-2008, has hit Internet Explorer

hard and stalled the rise of Mozilla Firefox.

Internet Explorer now accounts for less than 50 per cent of worldwide web browser usage, a fall from its peak of 88 per cent in 2003.

The rise of Chrome has also affected Mozilla Firefox - the second most popular desktop web browser - which has stayed at 30 per cent market share since May last year.

Mozilla's long-term advertising deal with Google ends in 2011.

The share of traffic from mobile browsers has grown from 0.6 per cent to 3.5 per cent today. That number is nearly five per cent in the US and Britain.

Google denies Oracle's Android copyright complaint Google has denied Oracle's complaint of copyright infringement in development

of Android smartphone software and asked a U.S. court to dismiss Oracle's

lawsuit.

Oracle sued Google in August, alleging patent and copyright infringement in the

development of the popular Android smartphone software.

The complaint does not specifically identify any allegedly infringing works of

Google.

Google said Android was an open-source platform and all relevant source code

and documentation associated with the project has been publicly available for

some time.