But that’s up to ICANN. Internet’s key oversight agency announced Thursday that by the summer of 2008 we might have more global TLD’s available for general use. The frequently asked questions list can be found here.

ICANN’s CEO, Paul Twomey said:

We want the diversity of the world’s people, geography and business to be able to be represented in the domain name system.

At the moment a number of 250 TLD’s are available and known to the public. Starting with the already known ones, .com, .net, .org and ending up with TLDs assigned to specific countries, like .ch for China.
Anyway, since it has been designated the appropriate authority for handling TLD’s, ICANN approved 13 extensions (out of which 7 were approved in 2000 and the rest, 4 years later), including .info, .biz, .jobs, .mobi, .cat, .tel, .travel and .asia.

You all remember they also declined the usage of .xxx in pornography. Anyway, people were complaining about ICANN’s lack of response and belated decisions regarding the addressed requests. Tworney declared that the applications will be reviewed and new names will be available starting with June 2008. He gives a high chance to the ones that actually mean or signify something in English.