THE WRAP: PCCW stalls, Cisco invests big time

There has been high drama at PCCW in the Far East this week. Two days after the operator withdrew plans to sell a 45% stake in its fixed line, broadband and TV assets, citing economic uncertainty,  it suspended its shares altogether.

It was altogether a quieter and less stunning affair when Huawei announced it was postponing the sale of its terminal group due to adverse financial conditions.

Nothing daunted by volatile markets it seems, Cisco announced it is investing over a billion dollars in India to tap into the country's markets and intellectual capital.

As the witch hunt to find who was responsible for the worldwide credit crunch begins, there were suggestions that flawed algorithms that assessed the risk attached to derivatives were to blame - and the "˜quants' who wrote and used them.

It's also been a Stormy week for RIM, whose share prices has taking a bashing. Rumours are circulating that Microsoft might buy the company.

In the UK, Orange removed RIM's Bold model from sale, amid concerns that there were problems with its 3G software.

Notebook computers have taken Europe by storm in the last quarter, with sales of Acer's pint-sized PC knocking HP off the top slot on the continent for the first time since it acquired Compaq way back when.

Firefox too is thinking small - it says the launch of its mobile browser is imminent.

In the scramble to find new ways of making money from assets, CBS has signed a distribution deal with YouTube in the US.

Nokia, on the other hand, is finding its Comes With Music is going nowhere fast without operators' support.

LTE testers insist the technology is surpassing 3GPP's targets in trials

Finally against the backdrop of dodgy financial deals, the Feds arrested spammers who are thought to belong to a global gang that is responsible for sending up to 10 billion flaky emails a day.