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New internationalised domain name (IDN) Web addresses and the generic top-level-domain (gTLD) programme will be available in a few months’ time, said ICANN.

These two initiatives will open the Internet address system to more customisation and localisation, said the Internet Corporation for Assigned Names and Numbers (ICANN), a global non-profit public-benefit corporation that oversees the coordination of unique IP addresses and domain names.
IDN Web addresses are expected to be available later this year, while the gTLD application process is expected to begin sometime in 2010.

Read the entire article here : http://mis-asia.com/news/articles/new-internationalised-domain-names-lift-language-barrier