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Seemingly unfazed at being ousted from the Asian Athletics Association, scam-tainted Suresh Kalmadi on Monday said losing the presidential re-election bid to Qatar’s Dahlan Jumaan Al-Hamad has actually given him a chance to work at the “grassroots” level.
“I have no issues today and I congratulate Mr Al-Hamad for being elected as President. I am rather relieved that I will be able to work at the grassroots level in athletics,” Mr. Kalmadi said after losing the vote during the ongoing AAA Congress in Pune.

International News

China's outbound direct investment surges

Tuesday - Nov 20, 2012, 04:30pm (GMT+5.5)
[+] Text [-]

Beijing - China's outbound direct investment (ODI) in non-financial sectors surged 25.8 percent year on year to $58.17 billion during the first 10 months of 2012, according to figures released by the commerce ministry Tuesday.

The increase was slower than the 28.9-percent expansion seen in the January-September period, as the country's economy slowed due to flagging property investment and exports, commerce ministry spokesman Shen Danyang told a press conference.

The member countries of the Association of Southeast Asian Nations (ASEAN), the US, Russia and Japan saw double-digit growth in ODI from China.

However, China's ODI in the European Union fell 20.9 percent year on year to $1.58 billion during the January-October period. The country's investment in Australia also dropped 28.7 percent to $1.36 billion, Shen said.


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