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Infosys posts 117 pc

BOMBAY: Indian software firm Infosys Technologies Ltd. announced on Tuesday a 117 percent rise in net profit to 2.93 billion rupees (67 million dollars) for the year to March 31. Infosys net profits in the previous fiscal year had totalled 1.35 billion rupees. Total income rose to 9.2 billion rupees, against 5.1 billion the previous year, the company said.ÑAFP

Recolonisation

KUALA LUMPUR: Southeast Asia risks being colonised again unless the forces of globalisation are regulated, Malaysian Prime Minister Mahathir Mohamad told regional business leaders on Tuesday.

We did not fight to be free of the old imperialism in order to have the privilege of bowing before the new imperialism," he said in a speech opening a two-day ASEAN Business Summit.

Mahathir is in Cuba for a summit of the G77 group expected to focus on the dangers of globalisation for developing nations. His speech was read by Deputy Prime Minister Abdullah Ahmad Badawi.ÑAFP

Japan budget before elections

TOKYO: Japan's Prime Minister Yoshiro Mori said on Tuesday he would call snap elections when he feels necessary but only after dealing with the budget.

It was the Japanese leader's clearest rejection yet of mounting calls for immediate polls.

"So, right now, I have no plan at all to dissolve the lower house," the first step in calling a national election, he told the lower house of the parliament, or Diet.

"But when I reach a decision that we need to make an appeal to the confidence of the whole nation, I will not hesitate to take bold action," the premier said.ÑAFP