Economic conditions will get tougher before they get better and further tightening of belts is needed, SA Reserve Bank Governor Tito Mboweni told Parliament on Wednesday. "After we take out food and energy [of the inflation equation], inflation is trending higher, we have to tighten our belts," he told Parliament's finance committee. Foreigners had withdrawn R35-billion worth of investments from SA between January and March 11 this year, he said, an indication of the "nervousness" in the global financial system. Mboweni could not say if this was in any way due to the electricity crisis. "Globally, people are depressed." Mboweni said it was critical to maintain the confidence of non-resident investors through prudent macro-economic policy. This would ensure they continued putting money into the country, which would help finance the current account deficit.

Drug-coated stents merit new studies, FDA says

More than a year after the multibillion-dollar market for drug-coated stents was first roiled by concerns about blood clots forming in the devices, the U.S. Food and Drug Administration issued recommendations Wednesday for better studies from manufacturers that might address both the blood clot issue and other safety questions.

Among other things, the recommendations provide guidance for assessing the toxicity of the drugs used to coat stents — metal mesh tubes that doctors use to prop open heart arteries obstructed with blockages.

Natick, Mass.-based Boston Scientific is the market leader in drug-coated stents and manufactures the products at a division based in Maple Grove. The company's worldwide sales of drug-coated stents — which dropped from $2.4 billion in 2006 to $1.8 billion last year — have been hurt both by the blood clot concerns and questions raised in medical studies about whether the devices have been overused.

GCC money supply surge guarantees high inflation, why no revaluation?

Inflation is always a monetary phenomenon. You hike the money supply and hey presto you will have higher inflation. That the UAE and Bahrain have reported money supply growth of 37% and 36% respectively in January means that higher inflation is inevitable in 2008. Only revaluation could ease this mounting problem. .

Blending value for money with luxury machine

With the acquisition of Jaguar and Land Rover, Tata Motors has been propelled into the position of the world's fastest growing car company, which is exactly where being quick on its feet mattered.

Trying to make a premium brand from scratch is a painfully taxing and time-consuming business. Ask Toyota that. It took the Japanese numero uno the better part of two decades to establish its Lexus brand in the US and only now is it turning to push the Lexus nameplate in Europe and Japan.

In the long haul it would surely have been for Tata Motors to establish their prestige car credentials, but Ford putting Jaguar and Land Rover on the block helped the Indian company save crucial time. Of course, it is not everyday that not one but two prestige car brands are put up for sale and this opportunity was too good to miss.