World stocks lower after Wall Street tumble as European debt worries undermine confidence,

World stocks lower amid Europe, US jitters
BANGKOK – World stocks were mostly down Wednesday as Europe’s debt woes continued to undermine confidence and after a fall on Wall Street connected to the massive oil spill in the Gulf of Mexico.
Oil fell to nearly $72 per barrel, while the dollar gained against the yen …. Source article on Gaea Times at  : World stocks lower after Wall Street tumble as European debt worries undermine confidence,.

Zuma’s maiden visit seen lifting India-South Africa ties

NEW DELHI – Trade and economic ties between India and South Africa, two of the largest emerging economies in the world, is set to get a fresh push with the visit of President Jacob Zuma here with the largest-ever business delegation of 100 members.

The re-launch of the India-South Africa Chief Executives’ Forum and interactions with … Read this article on Gaea Times at : Zuma’s maiden visit seen lifting India-South Africa ties.

Sikorsky planning more JVs with Indian firms

NEW DELHI – Global military and commercial helicopter major Sikorsky Aircraft Corp is likely to tie up with more Indian companies in the next few months to produce components locally, a company official said Wednesday.

Keen to set a wider footprint in India, the US-based company is also planning to initiate discussions with state-run firms to … Read more >>.

Kieon forges strategic partnership with Sitefinity

BANGALORE – Kieon, the digital media solutions provider addressing the communication needs of the advertising and new media sectors, announced that it has established a partnership with Telerik to supply and support the Sitefinity Content Management System.

“We were happy to …. Source  : Gaea News Network.

G-20 finance chiefs, central bankers to meet in South Korea amid European financial turmoil

European chill as G20 finance heads meet in SKorea

SEOUL, South Korea – Europe’s debt woes are set to dominate talks as finance mandarins from the newly powerful G-20 group of rich and developing nations meet this week to push ahead with reforms of the global economy.
The continent’s sovereign debt crisis has seemed like an echo …. Read the original article  : G-20 finance chiefs, central bankers to meet in South Korea amid European financial turmoil.

Wage rise at Foxconn after string of suicides

BEIJING/TAIPEI – Taiwan electronics company Foxconn Technology said Wednesday it planned to raise wages for its Chinese workers by 30 percent after a spate of suicides at its plant in southern China.

A company spokesman in Taipei said the wage increase from 900 yuan ($132) to 1,200 yuan was effective immediately. The raise was higher than … Read more : Wage rise at Foxconn after string of suicides.

Age of oil and gas is not dead yet, says UAE minister

Dubai, June 2 (IANS/WAM) “The age of oil and gas is not dead”, says an United Arab Emirates (UAE) cabinet minister, citing the Oil and Petroleum Exporting Countries (OPEC) prediction for growing energy demand.

“In the world of energy, there is one certainty, namely that the age of oil and gas
is not dead! Indeed, it … Read : Age of oil and gas is not dead yet, says UAE minister.

A year later, Obama to assess progress of economy’s ‘new foundation’ in Pittsburgh speech

Obama to deliver status-check speech on economy
WASHINGTON – President Barack Obama says getting Americans back to work is his top priority, a message the White House has tried to underscore with weekly economy-focused stops outside Washington.
His latest trip is Wednesday, when he is making a quick visit to Pittsburgh to deliver …. Original article  : A year later, Obama to assess progress of economy’s ‘new foundation’ in Pittsburgh speech.

Corn syrup producers acknowledge opponents are souring US market for common sweetener

Corn syrup producers deal with sour US sales

CHAMPAIGN, Ill. – Fans of natural foods have tried for years to push the ubiquitous sweetener high fructose corn syrup off Americans’ dinner tables and out of their restaurants and grocery stores.
It seems to be working.
U.S. use of the sweetener found in most soft drinks, cereals and a … Read this article on Gaea Times at : Corn syrup producers acknowledge opponents are souring US market for common sweetener.

Tobacco loophole in Obama’s child health law costs US $250M as companies avoid huge tax hike

Tobacco loophole in child health law costs $250M
WASHINGTON – Public health officials say a tobacco tax loophole in President Barack Obama’s children’s health insurance program is costing the U.S. Treasury more than $250 million a year.
The loophole allows companies to avoid huge tax increases on rolling tobacco by labeling it as pipe tobacco. … Read more : Tobacco loophole in Obama’s child health law costs US $250M as companies avoid huge tax hike.

Gold prices hit record high, deter buyers

MUMBAI – Bullion prices in India touched a record high of 398.42 dollars for ten grams on Tuesday and closed at 398.11 dollars.

The skyrocketing rates of gold have severely constrained the budget of customers during the ongoing wedding season.

Gold futures on the …. Source article  : Gold prices hit record high, deter buyers.

Ashok Leyland-Nissan joint venture to roll out light trucks by 2011

CHENNAI – Chennai-based Ashok Leyland, India’s leading commercial vehicle maker owned by the house of Hindujas has entering into a collaboration with Japan auto major Nissan Motor Company to roll out three light commercial vehicles (LCVs) by mid-2011.

The top officials of the companies …. Source article on Gaea Times at  : Ashok Leyland-Nissan joint venture to roll out light trucks by 2011.

Asian shares lower following Japanese leader’s decision to quit, tumble on Wall Street

Asian shares lower on cues from Japan, US
BANGKOK – Asian stocks were mostly lower Wednesday after a fall on Wall Street connected to the massive oil spill in the Gulf of Mexico and amid news that Japanese Prime Minister Yukio Hatoyama will resign.
It was the second day of losses for the region’s markets, … Read more : Asian shares lower following Japanese leader’s decision to quit, tumble on Wall Street.

Decomposed food discovered at Venezuelan port spoils President Chavez’s day

Chavez: Rotten food at state-run port stinks

CARACAS, Venezuela – President Hugo Chavez urged prosecutors on Tuesday to bring charges against those responsible for the putrefaction of roughly 20,000 metric tons of food inside a seaport under the administration of the federal government.
“Debacles like this cannot be forgiven,” Chavez said during a televised speech. “Justice must …. Original article on Gaea Times at  : Decomposed food discovered at Venezuelan port spoils President Chavez’s day.

Sensex up 61 points in early trade

MUMBAI – A benchmark index for Indian equities Wednesday was trading with a 61-point gain, about an hour into trade.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,574.79 points, was ruling at 16,633.47 points, 61.44 points or 0.37 percent up from its previous close at 16,572.03 points.
At …. Source article  : Sensex up 61 points in early trade.

Oil falls to near $72 in Asia as investor optimism wanes about stocks, commodities

Oil near $72 as economy concerns drag on optimism

SINGAPORE – Oil prices slipped to near $72 a barrel Wednesday in Asia as flagging investor optimism about the global economy drags down stocks and commodities.
Benchmark crude for July delivery was down 30 cents at $72.28 a barrel at late afternoon Singapore time in electronic trading on … Read more : Oil falls to near $72 in Asia as investor optimism wanes about stocks, commodities.

Warren Buffett, Moody’s CEO to testify before panel probing financial crisis

Buffett to testify before financial crisis panel

NEW YORK – Billionaire investor Warren Buffett and the CEO of credit rating agency Moody’s Corp. are scheduled to face questions Wednesday from a bipartisan panel probing the roots the financial crisis.
The congressionally chartered Financial Crisis Inquiry Commission subpoenaed Buffett to appear at the New York hearing on the …. Source  : Warren Buffett, Moody’s CEO to testify before panel probing financial crisis.

Honda says factory in China back to work after strike that idled vehicle production

Honda says China factory back to work after strike

BEIJING – Honda Motor Co. said a key parts factory in China resumed full operation Wednesday following a two-week strike over wages that forced Honda to halt production at four assembly plants.
The strike highlighted tensions between workers and foreign companies that look to China as a source …. Source  : Gaea News Network.

Money Market Operations as on June 1, 2010

… Read the original article on Gaea Times at : Money Market Operations as on June 1, 2010.

Asian shares mixed after Japan prime minister resigns, Wall Street falls on oil investigation

Asian shares mixed on Japan, US cues
SINGAPORE – Asian stocks were mixed Wednesday after a fall on Wall Street and amid news Japanese Prime Minister Yukio Hatoyama is resigning after just eight months as the nation’s leader.
It was the second day of losses for the region’s markets. A negative cue came from Wall … Read this article on Gaea Times at : Asian shares mixed after Japan prime minister resigns, Wall Street falls on oil investigation.