Sunday, June 06, 2010

Business News – Newsletter for June 6, 2010

Sunday, June 6, 2010


Malaysia tycoon pledges millions to charity to curb Muslim criticism of sports betting launch

Malaysia tycoon in betting spat makes charity vow

KUALA LUMPUR, Malaysia – A Malaysian billionaire embroiled in a controversy over launching a sports betting operation has pledged to donate his initial earnings to charity in a bid to deflect growing criticism that the plan will promote gambling in the Muslim-majority country.
Ascot Sports, a company linked to …. Original article  : Malaysia tycoon pledges millions to charity to curb Muslim criticism of sports betting launch.

Growers oppose natural rubber import duty cuts

NEW DELHI – Young farmers in northeast India are a concerned lot after the Delhi High Court asked the government to “consider carefully” the user industry’s demand to bring down import duty on natural rubber – a move that they feel can disturb peace.

“Bringing down the import duty will adversely affect us farmers. We …. Original article on Gaea Times at  : Growers oppose natural rubber import duty cuts.

Car sales see an all time high in India

CHENNAI – Car sales in India in April reached at an annual high of 39.5 percent, indicating consumer demand despite rising prices.

Buyers are usually subdued in April after bunched purchases at the close of the financial year in March to take advantage of tax breaks on depreciation.

Domestic car sales were 143,976 in April, up …. Original article on Gaea Times at  : Car sales see an all time high in India.

Canadian province invites Indian investors to acquire SMEs

CHENNAI – The Canadian province of Saskatchewan is inviting Indian entrepreneurs to take over small and medium enterprises (SMEs) which do not have succession plans.

The province also wants Indian students there to stay back and pursue businesses and professions.
“Nearly 40 percent of the SMEs do not have succession plans. In order have continuity …. Read the original article  : Canadian province invites Indian investors to acquire SMEs.

Greens up against Mayawati’s dream expressway

GHAZIABAD – Chief Minister Mayawati’s dream project of an eight-lane expressway from Greater Noida to Saharanpur along the Upper Ganges Canal in Uttar Pradesh has generated much controversy, with green activists saying it would result in the mass destruction of trees and, consequently, wildlife.

“The mass destruction of trees will create an ecological hazard. Rare wild … Read the original article on Gaea Times at : Greens up against Mayawati’s dream expressway.

Mark Cuban says he would back Weinstein bothers’ deal to buy back Miramax from Disney

Cuban says he’d back Weinstein deal for Miramax

LOS ANGELES – Billionaire investor Mark Cuban says he loved the idea of the Weinstein brothers participating in a bid for Miramax.
Cuban said on the sidelines of the Produced By Conference Saturday that he did not help block the Weinstein’s bid last month to take back the Miramax …. Original article  : Mark Cuban says he would back Weinstein bothers’ deal to buy back Miramax from Disney.

BP places ‘top cap’ over leak

WASHINGTON – Oil giant BP has succeeded in placing a containment cap over the ruptured well head that is gushing oil into the Gulf of Mexico, but was working to seal the cap and close valves before it could capture much of the oil.

“Progress is being made,” said Coast Guard Admiral Thad Allen, who is …. Original article on Gaea Times at  : BP places ‘top cap’ over leak.

Drosselmeyer takes Belmont in upset over Zito’s favorites

Drosselmeyer pulls upset in Belmont Stakes

NEW YORK – Drosselmeyer pulled off an upset in the Belmont Stakes, seizing the lead in the stretch and giving Hall of Fame trainer Bill Mott his first win in a Triple Crown race.
Sent off at odds of 13-1, Drosselmeyer defeated Fly Down by three-quarters of a length on a … Read more »».

Halter, Lincoln hunt for remaining votes as Arkansas Democratic Senate runoff nears

Halter, Lincoln trade jabs in Ark. as runoff nears
NEWPORT, Ark. – Arkansas Democratic Sen. Blanche Lincoln traded jabs with challenger Lt. Gov. Bill Halter as they campaigned days before a nationally watched runoff that will wrap up one of the most expensive and bitter political battles in state history.
The pair traveled throughout the …. Source  : Gaea News Network.

We’ll get through this together, Jimmy Buffett tells people of Florida Panhandle

Jimmy Buffett laments the fouling of his paradise

PENSACOLA BEACH, Fla. – Jimmy Buffett’s timing is a little off.
The “Margaritaville” singer is synonymous with the white-sand beaches along the Gulf Coast that are now being fouled by leaked oil. He’s planning to open a hotel in Pensacola Beach, Fla., in a week.
He took a walk Saturday …. Source article on Gaea Times at  : We’ll get through this together, Jimmy Buffett tells people of Florida Panhandle.

Israeli commandos seize latest Gaza-bound aid ship, defiant Israel enforces blockade

Israel remains defiant, seizes Gaza-bound aid ship

JERUSALEM – A defiant Israel enforced its 3-year-old blockade of Hamas-ruled Gaza on Saturday, with naval commandos swiftly commandeering a Gaza-bound aid vessel carrying an Irish Nobel laureate and other activists and forcing it to head to an Israeli port instead.
The bloodless takeover stood in marked contrast to a …. Source  : Gaea News Network.

Deadline for financial bids for Hyderabad Metro extended again

HYDERABAD – The Andhra Pradesh government Saturday extended for the second time the last date for submitting financial bids for the Rs.12,132 crore Hyderabad Metro Rail (HMR) project to June 14.

This is the third time in as many months that HMR project authorities have extended the deadline as the shortlisted bidders did not come forward …. Original source  : Deadline for financial bids for Hyderabad Metro extended again.

Nearly half the unemployed have been out of work at least 6 months and find odds against them

Growing ranks of long-term jobless face tough odds

WASHINGTON – If you lose your job these days, it’s worth scrambling to find a new one – fast.
After six months of unemployment, your chances of landing work dwindle.
The proportion of people jobless for six months or more has accelerated in the past year and now makes up … Read more >>.

Va. socialite, winemaker selling $9M country estate collection of antiques she no longer needs

Va. socialite and winemaker selling country estate

CHARLOTTESVILLE, Va. – Socialite and vintner Patricia Kluge says she no longer needs her inscribed Picasso platter, centuries-old Qing Dynasty clock, 19th-century Grecian harp and nearly all the other treasures in her English-style country mansion.
Collectors and curiosity seekers will have plenty to peruse if they buy a 620-page catalog …. Original article on Gaea Times at  : Va. socialite, winemaker selling $9M country estate collection of antiques she no longer needs.

The first big win against skin cancer: Drug boosts survival in major study of deadly melanoma

Drug boosts survival in major skin cancer study

CHICAGO – Researchers have scored the first big win against melanoma, the deadliest form of skin cancer. An experimental drug significantly improved survival in a major study of people with very advanced disease.
The results, reported Saturday at a cancer conference, left doctors elated.
“We have not had any therapy [..] Read the original article: here.

Pfizer drug shows big promise in early testing for lung cancer patients with a certain gene

Pfizer lung cancer drug promising in early tests

CHICAGO – It’s way too soon to declare success, but an experimental drug for lung cancer patients with a certain gene showed extraordinary promise in early testing, doctors reported at a cancer conference on Saturday.
More than 90 percent of the 82 patients in a study saw their tumors …. Source  : Gaea News Network.

Pakistan raises defence budget to $5.2 bn

ISLAMABAD – Pakistan increased its annual spending on defence to $5.2 billion (Rs.442 billion) as the government presented its budget Saturday with an outlay of Rs.2.764 trillion for the 2010-11 fiscal starting July 1.

The allocation for defence is Rs.442 billion, which is higher by Rs.100 billion and Rs.64 billion respectively against the current year’s and …. Source  : Gaea News Network.

Restoration of Los Angeles International’s saucer-shaped Theme Building marks airport revival

Restored Theme Building marks LAX’s turnaround

LOS ANGELES – Believe it or not, LAX and its iconic spider-shaped terminal were once young and vibrant, a futuristic outpost at the edge of the Pacific in the glamorous Jet Age.
After a half-century and millions of travelers, Los Angeles International Airport is on the verge of reclaiming some of … Read the original article on Gaea Times at : Restoration of Los Angeles International’s saucer-shaped Theme Building marks airport revival.

4 months jail with hard labor for Zambia publisher in street birth photos case

Zambia publisher jailed for critical comment

LUSAKA, Zambia – Award-winning Zambian press freedom campaigner and newspaper publisher Fred M’membe begins a four month jail sentence for a case involving photographs of a woman giving birth on a street during a health services strike, his newspaper says.
Amos Mapulenga, managing editor of the daily Post newspaper, says M’membe [..] Read the original article: here.

Israeli prime minister firm on Gaza blockade, as pressure mounts to ease restrictions

Despite pressure, Israeli PM firm on Gaza blockade

JERUSALEM – Israel’s prime minister has signaled he is determined to enforce a naval blockade of the Hamas-ruled Gaza Strip, as international pressure mounts for the restrictions to be eased or scrapped altogether.
Benjamin Netanyahu said after Saturday’s latest takeover of a Gaza-bound aid vessel by Israeli commandos that …. Source article on Gaea Times at  : Israeli prime minister firm on Gaza blockade, as pressure mounts to ease restrictions.

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