Boosted supply of food staples pushes prices down: UN

ROME – Increasing supplies of major food staples such as cereals have led to a “sharp decline” in prices during the first half of the year, but the cost of food remains some 69 percent higher than in 2002-04, a United Nations report said Thursday.

In addition, the high prices of non-cereal products have still kept …. Source  : Gaea News Network.

Tata Nano set to drive into Taiwan

TAIPEI – Tata Nano, the world’s cheapest car made by India’s Tata Motors, is set to drive in to Taiwan, a manufacturing hub of iPods and green technologies, later this year.

Theodore Huang, chairman of Taiwan’s TECO group, is upbeat about the prospects of the Tata Nano in the Taiwan market, but says it … Read more »».

Reliance Communications surges further on Indian bourses

MUMBAI – Reliance Communications, a part of the Anil Ambani group, saw its scrip surge further Wednesday after the company said it was, indeed, evaluating various offers from global telecom firms for acquiring strategic stake in the company.

The company’s scrip was ruling at 164.10, up 6.14 percent, around 2 p.m., data with the Bombay Stock … Read more : Reliance Communications surges further on Indian bourses.

World share markets up strongly after gains in the US with Japan’s Nikkei up 3.2 percent

World markets up strongly after gains in the US

BANGKOK – World stock markets jumped Thursday after gains on Wall Street triggered by strong housing figures gave investors enough confidence to snap up riskier assets like shares following a monthlong slide.
Oil prices rose above $74 a barrel, while the dollar strengthened against the yen but slid … Original article on : World share markets up strongly after gains in the US with Japan’s Nikkei up 3.2 percent.

Sensex up 1.6 percent on global cues

MUMBAI – A benchmark index for Indian equities, which shot up soon after opening bell on steady global cues, was holding on to its gains in afternoon trade Thursday, ruling 1.63 percent higher than its previous close.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,786.28 points, was ruling at … Original source on Gaea Times at : Sensex up 1.6 percent on global cues.

Dissatisfied Pakistani team returns after water talks with India

LAHORE – Pakistan’s Indus Water Commission team has returned from New Delhi dissatisfied with the information provided by the Indian side about the construction of new power projects on three rivers in Jammu and Kashmir that flow into this country.

Pakistan’s Indus Water Commissioner Syed Jamaat Ali Shah told reporters in Lahore Wednesday that his Indian …. Source article on Gaea Times at  : Dissatisfied Pakistani team returns after water talks with India.

Global Investors Meet begins in Bangalore

BANGALORE – The Global Investors Meet (GIM), expected to bring in Rs.5 trillion (Rs.5 lakh crore) to Karnataka in the next four-five years, began here Thursday with the state rolling out a red carpet to global firms and India Inc.

A galaxy of big ticket investors led by ArcelorMittal founder Lakshmi N. Mittal is attending the …. Read the original article  : Global Investors Meet begins in Bangalore.

G-20 finance officials begin talks on global economy in shadow of European turmoil

G-20 finance officials begin global economy talks

BUSAN, South Korea – Finance officials from leading advanced and emerging countries began talks Thursday aimed at hammering out reforms to the global economic system to prevent debilitating crises such as the one that dragged the world to the verge of a depression in 2008.
The Group of 20 brings … Original article on : G-20 finance officials begin talks on global economy in shadow of European turmoil.

Oil rises above $74 as US crude supply drop suggests demand is growing

Oil rises above $74 as US crude supplies drop

SINGAPORE – Oil prices rose above $74 a barrel Thursday in Asia after a report showed U.S. crude inventories fell more than expected, suggesting consumer demand is growing.
Benchmark crude for July delivery was up $1.39 at $74.25 a barrel at late afternoon Singapore time in electronic trading … Original source on Gaea Times at : Oil rises above $74 as US crude supply drop suggests demand is growing.

Power point budget presentation in Bangladesh

DHAKA – Bangladesh Finance Minister A.M.A. Muhith will present the annual budget through a power point presentation in parliament June 10, cutting short the traditional long speech.

This is the first time when a finance minister will use modern technology to unveil the budgetary proposals in the house.
He will only deliver a brief speech … Read the original article on Gaea Times at : Power point budget presentation in Bangladesh.

Food inflation climbs to 16.55 percent

NEW DELHI – Despite the government’s best efforts to talk it down, India’s annual food inflation shot up to 16.55 percent for the week ended May 22, owing to high prices of pulses, milk and fruits, official data released Thursday showed.

The food inflation was 16.23 percent during the previous week.
Data on the wholesale price …. Read the original article  : Food inflation climbs to 16.55 percent.

Search engine `Simply Hired’ launches first personalized job search experience

Mumbai,June 3 (ANI-Business Wire India): Simply Hired, the largest job search engine, today launched the first personalized job search experience by integrating with Facebook.

Job seekers can now utilize their Facebook profile and friends on SimplyHired.co.in to access customized job content to land a job.

Using this new capability, users who log in with Facebook … Original source on Gaea Times at : Search engine `Simply Hired’ launches first personalized job search experience.

GOP race for Calif. governor tightens as wealthy candidates tangle over immigration, economy

Calif. GOP gov race tightens as attacks intensify

SACRAMENTO, Calif. – Meg Whitman’s shot at the Republican gubernatorial nomination looked as easy as an eBay bid: Plunk down nearly $81 million and wait for the clock to run out.
Yet in the final days before Tuesday’s California primary, the former chief executive of the online auction company …. Source  : Gaea News Network.

At $1.2bn, G8/G20 summits cost too much: Canadian leaders

TORONTO – With Canadian taxpayers paying through their nose to host the G8 and G20 summits this month, many political leaders, including former prime minister Paul Martin, have joined in protests against the billion-plus dollar cost of the gatherings.

At $1.2 billion, the two summits, spanning three days, will be the costliest 72 hours in Canadian … Original source on Gaea Times at : At $1.2bn, G8/G20 summits cost too much: Canadian leaders.

High population not a burden, says Hasina

DHAKA – Bangladesh’s 156 million population is “not a burden” and can be turned into skilled manpower, says Prime Minister Sheikh Hasina.

She informed the parliament that her government was “not afraid” of the high population growth of the country and underscored the need for “turning the huge population into skilled manpower”, The Daily Star …. Read the original article  : High population not a burden, says Hasina.

IDBI opens branch in Dubai

Dubai (UAE),June 3 (ANI-Business Wire India): IDBI Bank one of India’s leading banks, majority owned by Government of India, has received a license from the Dubai Financial Services Authority (DFSA) to provide a full range of corporate banking services including financial advisory services and … Read more : IDBI opens branch in Dubai.

Oil rises to near $74 as US crude supply drop suggests demand is growing

Oil rises to near $74 as US crude supplies drop

SINGAPORE – Oil prices rose to near $74 a barrel Thursday in Asia after a report showed U.S. crude inventories fell more than expected, suggesting consumer demand is growing.
Benchmark crude for July delivery was up 79 cents at $73.65 a barrel at midday Singapore time in …. Source article on Gaea Times at  : Oil rises to near $74 as US crude supply drop suggests demand is growing.

New retail data: Consumers cut back spending in May, underscoring how tentative recovery is

Retail data: consumers cut back spending in May

NEW YORK – Americans pulled back on their spending in May after a tepid April, underscoring how fragile the consumer spending recovery remains, new data released Thursday show.
Cool weather and a quirk in the calendar – a late Memorial Day weekend that hurt May’s business but should boost …. Original article  : New retail data: Consumers cut back spending in May, underscoring how tentative recovery is.

India-US strategic dialogue to set new milestones: Krishna

WASHINGTON – India and the US will hold their first strategic dialogue here Thursday with External Affairs Minister S.M. Krishna expecting a very positive outcome from the talks he leads with Secretary of State Hillary Clinton.

“There are very positive vibrations,” he told IANS after Wednesday’s foreign policy dialogue between Indian Foreign Secretary Nirupama Rao and … Original article on : India-US strategic dialogue to set new milestones: Krishna.

Money Market Operations as on June 2, 2010

…. Source  : Money Market Operations as on June 2, 2010.