Economy

Kabil Sibal, communications minister of India, recently announced that the National Do Not Disturb (NDND) service will be fully activated from September 27th of this year. The Telecom Regulatory Authority of India (TRAI) has implemented a new set of measures including a fine of Rs. 25,000 to 250,000 (US$500 to $5000) on defaulting firms. Customers who register for the NDND services will be blocked from receiving marketing calls or SMSs.

South Korea’s top financial policy-makers see Korea weathering the storm of financial upheaval on world markets but acknowledge that continuing to do so won’t be easy. “A short-term effect is inevitable due to the increase of volatility from overseas uncertainties such as the debt crises in the US and Europe,” Finance Minister Bahk Jaewan told a forum staged by The Economist in Seoul in September.

Mention the name Mongolia to most Westerners -- what is their response? It is likely to be a Genghis Khan joke. Few have studied the country. But it is now attracting much praise. About half of Mongolia’s 3 million people are farmers raising goats, sheep, and other animals. The remainder are concentrated in the capital, Ulaanbaatar.

Vietnam, the thickly-populated developing country which had been struggling for the past 30 years due to war, loss of financial support, and the centrally-planned economy, is now slowly stabilizing and is proving to be one of the few fast-growing countries in the world. A number of industrial zones and major economic zones have been established in the country.

Located along the Asia-Pacific Rim in Southeast Asia, Vietnam’s industrial production value is said to have gained satisfactory growth with 73.7 trillion dong, rising 16.1 percent against the same period last year, of which, state economic zone saw a growth of 6.7 percent, private economic regions went up by 18.9 percent and foreign invested economic areas soared 18.5 percent, according to the general Statistic Office.

South Korea continues in its position as fourth-largest economy in Asia by a 1.3 percent Gross Domestic Product. However, although early estimates in April showed 1.4 percent, the Bank of Korea affirmed in the first week of June that the first quarter GDP stood at 1.3 percent.

China's freshwater resources represent about 6 percent of the total global available amount. However, the Yangzte River basin, around the middle and lower parts of the vast country, has remained parched for several months now. The drought continues to be a grim reminder of the unscientific overuse of limited water resources that has fed China's growth in the past century.

Over the past several months, tighter laws on greenhouse gas emissions have been a cause of worry for firms located across the AsiaPacific region. These tougher laws have increased the negative financial performance of companies spread across the area, and they continue to rock the ability of firms to seek greater funds and capital.

For several years now, construction has been booming in China, which is in fact the geographical location of at least half the latest building constructions around the world. What is amazing is not only the sheer volume of construction projects going on but also the incredible growth rate of almost 2 billion square meters of building floor space each year.

South Korea, China and Japan are to conclude a joint study on the feasibility of a trilateral free trade agreement (FTA) before their three-way summit next year.