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+ - Reserve Bank of India rejects Islamic Banking-> 1

Submitted by vencs
vencs (1937504) writes "Earning interest on deposits is prohibited under Islamic banking. Instead, the money could be utilised for enterprises and the profit earned from their functioning could be shared by investors. There had been offers of Islamic funding schemes from NRIs and groups in the Middle East and other countries. However, the Governor of Reserve Bank of India said that Islamic banking is not permissible under existing rules.

In its intended form, Islamic banking as advocated by the Prophet would be close to venture capital or even a mutual fund – where the investor earns nothing if his money makes a business loss. He gets a share of profit or dividends if the venture or underlying investment makes a profit."

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China

+ - China's stealth fighter flight test successful->

Submitted by vencs
vencs (1937504) writes "China has successfully tested its second stealth fighter, a smaller, twin-engine jet that military analysts said could potentially allow it to one day fly missions from an aircraft carrier. Military analysts said the new jet's design suggested the People's Liberation Army might use it to arm and escort aircraft carriers like the Liaoning , which was officially deployed last month. Andrei Chang, editor-in-chief of Kanwa Asian Defense Monthly, said the new prototype appears to have borrowed features from the US Air Force's twin-engine F-22 and US Navy's single-engine F-35C."
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HP

+ - Round of massive job-cutting expected at HP->

Submitted by vencs
vencs (1937504) writes "HP is considering cutting as many as 25,000 jobs, or 8 percent of its workforce, to reduce costs and help the company contend with ebbing demand for computers and services, people briefed on the plans said.
The number to be cut includes 10,000 to 15,000 from Hewlett-Packard’s enterprise services group, which sells a range of information-technology services and has been beset by declining profitability, said these people, who asked not to be identified because the plans aren’t final and may change."

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+ - Problems with too much emphasis on looks->

Submitted by vencs
vencs (1937504) writes "American lawyer and TV host Lisa Bloom argues that by constantly praising young girls for being pretty, we are basically telling them that looks are more important than anything else. Eventually, she believes, it sets them up for dieting at age five, foundation at age 11, surgery at 17 and Botox at 23 and says 25 per cent of young American women would rather win America's Next Top Model than the Nobel Peace Prize."
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+ - India divided over allowing Wal-Mart, Tesco into r->

Submitted by vencs
vencs (1937504) writes "In other words, a heated argument between Government of India and everyone else about allowing FDI into retail market by giants like Wal-Mart, Carrefour, Tesco to setup their stores in India. Even with the govt's so-called safeguards such as the requirement of a minimum investment of $100 million and entry permission only for cities with populations exceeding one million etc, the people and opposition are vehemently rejecting the proposition saying that this would destroy the super strong local small-scale retailers' business. The governments' supporting points are about job creation, improving economy/competition by opening markets and mainly to meet its target of 7+% growth. The plan is currently suspended ."
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+ - Indias' $35 tablet resurfaces - for real!->

Submitted by
vencs
vencs writes "Excerpt: Priced at $35 (about Rs 1,720), the device which runs on a Google android platform,sports a 7" resistive screen, has 256MB RAM, 2GB SD memory card, a 32GB expandable memory slot and two USB ports, apart from wi-fi connectivity for Internet access and cloud storage facility. The tablet has been designed by Datawind, a Canada-based wireless services company. Last but not the least, it has a name 'Aakash' (meaning Sky)."
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