From BBC:
http://news.bbc.co.uk/2/hi/technology/8326241.stm

"The body said it that it was finalising plans to introduce web addresses using non-Latin characters.

The proposal – initially approved in 2008 – would allow domain names written in Asian, Arabic or other scripts.

The body said if the final plans were approved on 30 October, it would accept the first applications by 16 November.
...."

Good news for phishing lovers!