International Economic Events in January 2000

Smooth roll over into year 2000 sans major Y2K glitches.

Media giant Time Warner and top Internet Service Provider America Online agree to merge, creating a multimedia company with a market capitalisation of $ 350 billion.

IBM says it won the largest number of US patents (2,756) for the seventh year in a row in 1999.

Microsoft co-founder Mr. Bill Gates announces giving up the Chief Executive position in favour of Mr. Steve Ballmer. Mr. Gates to remain Chairman and take on the role of Chief Software Architect.

Clinton Administration announces new rules relaxing curbs on encryption exports, facilitates security in e-businesses.

Birtish pharma giants, SmithKline Beecham and Glaxo Wellcome announce merger in a stock swap that would create the world's largest drug maker.

US Trade Commission votes to impose heavy anti-dumping duties from India, Japan, France, Italy, Indonesia and South Korea.

Britain's EMI Group Plc and Time Warner Inc., announce merger of their music businesses to create the world's top record company worth about $ 20 billion with a powerful foothold on the Internet.

China agrees to adopt the TRQ system for some sensitive commodities, including wheat, corn, rice and soyabean oil in its negotiations with the US on WTO entry.

Over 130 countries ink agreement under UN auspices to regulate trade in genetically-modified organisms in Montreal, Canada.