What makes olive oil extra virgin? With federal standards, it’s no longer a slippery subject

Feds get picky over what makes oil ‘extra virgin’

CARMEL VALLEY, Calif. – Extra virgin, light, with lemon, unfiltered, cold-pressed: the variety of olive oil on most supermarket shelves is dazzling. But what does it all mean?
These terms might be common currency among foodies and the farmer’s market crowd, but they have never been enforceable, or …. Source article on Gaea Times at  : What makes olive oil extra virgin? With federal standards, it’s no longer a slippery subject.

Thai PM to attend economic meet in Vietnam to restore international confidence after protests

Thai leader goes abroad to salvage country’s image

BANGKOK – Thailand’s prime minister Friday planned his first overseas trip since last month’s bloody protests in Bangkok, hoping to salvage the country’s hammered tourism industry and blighted image.
Prime Minister Abhisit Vejjajiva’s primary task will be to restore confidence among investors and tourists when he attends the World … Read : Thai PM to attend economic meet in Vietnam to restore international confidence after protests.

Japan’s outspoken new prime minister, Naoto Kan, must win back voters’ trust by July election

Naoto Kan elected Japan’s prime minister
TOKYO – Japan’s parliament installed Naoto Kan as the new prime minister Friday, handing the outspoken populist the job of rallying his party and reclaiming its mandate for change ahead of elections next month.
Kan, a 63-year-old veteran with a reputation for confronting Japan’s powerful bureaucrats, succeeds Yukio Hatoyama, … Read more >>.

Asian stocks mixed as markets brace for crucial reading on US economy; Europe higher

Asia stocks mixed before jobs report; Europe gains
BANGKOK – Asian stocks were mixed Friday as markets braced for U.S. jobs figures that will give a crucial reading on whether the recovery in the world’s No. 1 economy is broadening. European shares rose.
The lackluster showing in Asia came after big gains the day before … Read : Asian stocks mixed as markets brace for crucial reading on US economy; Europe higher.

Sensex up 60 points in choppy trade

MUMBAI – A benchmark index for Indian equities Friday crawled up in choppy trade amid mixed cues from other global markets.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,036.55 points, was ruling at 17,082.6 points, 60.27 points or 0.35 percent up from its previous close at 17,022.33 points. …. Source  : Gaea News Network.

Pakistan’s forex reserves cross $16 bn

KARACHI – Pakistan’s foreign exchange reserves have crossed $16 billion for the first time in three years, but the country’s foreign debt stands at a staggering $54 billion.

Central bank spokesman Syed Waseemuddin told Geo News Friday that as of May 21, Pakistan’s foreign exchange reserves stood at $16.129 billion, largely because the US deposited $280.80 … Read more : Pakistan’s forex reserves cross $16 bn.

Pronger living up to huge expectations in leading Flyers to Stanley Cup final

Big deal: Pronger trade delivering for Flyers

PHILADELPHIA – Chris Pronger brought a lively personality and some leadership to a Flyers’ locker room that needed an infusion of both.
He also led them to the Stanley Cup final.
Suddenly, dealing two first-round picks to acquire one of the top defensemen in NHL history doesn’t seem so steep.
Pronger has … Read more : Pronger living up to huge expectations in leading Flyers to Stanley Cup final.

Access to markets in India at a price, says official

NEW DELHI – Countries demanding greater access to Indian markets will have to pay for it if India agrees to give access said, India’s chief negotiator at the WTO and an Additional Secretary in the Commerce Ministry, D.K. Mittal.

Speaking at … Read more »»».

RBI Staff Studies : “Trends in Select Micro and Small Scale Production Items during Phases of Industrial Slowdown”

The economic strain encountered by the Indian industrial sector during downturns in business cycles is captured by the monthly index of industrial production. However, the index fails to document the degree and extent of the hardships faced by certain sections of the industry, particularly the unorganized small scale sector … Read more : RBI Staff Studies : “Trends in Select Micro and Small Scale Production Items during Phases of Industrial Slowdown”.

Euro static against dollar, below $1.22 in European trading

Euro stuck below $1.22
BERLIN – The euro is little changed against the dollar ahead of a closely watched U.S. jobs report, trading not far above four-year lows.

The currency bought $1.2184 in early Friday European trading, near its level of $1.2182 in New York late Thursday.
The euro has dropped on worries about Europe’s prospects and spending … Read more : Euro static against dollar, below $1.22 in European trading.

Oil prices hover above $75 a barrel in Asia on hopes of continued economic recovery

Oil prices hover near $75 amid rising demand signs

KUALA LUMPUR, Malaysia – Oil prices were steady Friday in Asia after recent gains, holding above $74 a barrel as signs of rising demand in the U.S. fueled hopes of continued economic recovery.
Benchmark crude for July delivery was up 3 cents at $74.64 a barrel at late …. Original article  : Oil prices hover above $75 a barrel in Asia on hopes of continued economic recovery.

Thousands headed to Himachal as mercury dips

SHIMLA – Nearly 40,000 tourists are expected to make a beeline for the hills of Himachal Pradesh the coming weekend as the state is likely to see more rains and cooler weather.

“The temperatures will considerably come down … with chances of more rain in the hills and snow in the higher reaches,” Manmohan Singh, director …. Source article  : Thousands headed to Himachal as mercury dips.

Low-cost airline Easyjet unveils world-first plans to fit ash detectors on planes

Easyjet unveils plans to fit ash detectors

LONDON – Low-cost airline Easyjet PLC has unveiled world-first plans to fit its planes with radar to detect volcanic ash.
Easyjet said Friday that the devices – designed to be placed on the tail fin and detect ash within 100 miles (160 kilometers)- could prevent a repeat of the shutdown …. Read the original article  : here.

Maoists keep GMR power project under siege in Nepal

KATHMANDU – Four months after Maoists obstructed work on a hydropower project in northwest Nepal, the venture with high Indian stake continues to lie paralysed with the Nepal government failing to provide security.

The 250 MW Upper Marsyangdi project spanning two districts – Lamjung in the west and Manang near the Tibetan border – has been …. Source  : Maoists keep GMR power project under siege in Nepal.

Taiwan’s Foxconn suffers another employee death, but denies it was work related

Foxconn: latest employee death not work related

TAIPEI, Taiwan – Taiwan’s Foxconn Technology Group, which has been shaken by a spate of worker suicides in China this year, said Friday another employee had died but denied it was work-related.
The maker of iPhones, iPads and other electronic gadgets for global corporations including Apple Inc. said the 28-year-old … Read : Taiwan’s Foxconn suffers another employee death, but denies it was work related.

McDonald’s recalls 12 million Shrek-themed drinking glasses containing cadmium in paint job

McDonald’s pulls 12M cadmium-tainted Shrek glasses

LOS ANGELES – Cadmium has been discovered in the painted design on “Shrek”-themed drinking glasses being sold nationwide at McDonald’s, forcing the burger giant to recall 12 million of the cheap U.S.-made collectibles while dramatically expanding contamination concerns about the toxic metal beyond imported children’s jewelry.
The U.S. Consumer Product Safety …. Read the original article  : here.

Manali-Leh highway likely to reopen Saturday

MANALI – The 475-km Manali-Leh highway, which remains closed for vehicular traffic for five-six months in the winter owing to heavy snowfall, is likely to re-open for traffic Saturday.

“The highway will most likely be reopened Saturday evening,” said S.K. Doon of the General Reserve Engineering Force, a wing of the Border Roads Organisation.
“The snow …. Original source  : Manali-Leh highway likely to reopen Saturday.

Asian stocks mostly lower as markets brace for crucial reading on US economic recovery

Asian markets lower ahead of US jobs report
BANGKOK – Asian stocks were mostly lower Friday as markets braced for U.S. jobs figures that will give a crucial reading on whether the recovery in the world’s No. 1 economy is broadening.
The modest decline in the region’s markets came after big gains the day before … Read more »»».

Obama postpones trip to Indonesia, Australia for 2nd time as oil spill crisis rages

Obama shelves trip to Indonesia, Australia
WASHINGTON – Grappling with the worst oil spill in the nation’s history, President Barack Obama has abruptly scrapped a trip to Indonesia and Australia for the second time this year.
The president informed the leaders of both countries of the news in phone … Read : Obama postpones trip to Indonesia, Australia for 2nd time as oil spill crisis rages.

World Bank meet opens, calls for G-20 agenda to add development to ensure sustainable growth

World Bank meet: G20 agenda should add development

BUSAN, South Korea – The Group of 20 leading economies faced demands Friday to do more for the developing world as their finance chiefs gathered to work on an agenda aimed at fending off future crises.
The talks in this southern port city by U.S. Treasury Secretary Timothy Geithner …. Original article on Gaea Times at  : World Bank meet opens, calls for G-20 agenda to add development to ensure sustainable growth.