Sensex slips in afternoon trade

MUMBAI – A key index for Indian equities Thursday slipped into the red in afternoon trade, tracking negative European and mixed Asian markets after US Federal Reserve painted a mixed economic outlook.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,750.51 points, was ruling at 17,678.66 points, 77.28 points … Read more : Sensex slips in afternoon trade.

Bangladesh losing US garment market to India, China

DHAKA – Bangladesh is losing the US market for garments to India, China, Vietnam and Indonesia, among others, causing concern among exporters.

Citing a recent report of US Commerce Department, exporters say Bangladesh, recording a marginal fall during January-April this year, has witnessed overall negative growth in shipments compared to other Asian competitors.
The … Read the original article on Gaea Times at : Bangladesh losing US garment market to India, China.

World stock markets lose ground after cautious Fed statement on economy

World stocks lose ground after Fed statement

BANGKOK – World stock markets retreated Thursday after the U.S. Federal Reserve struck a note of caution in its latest assessment of the world’s No. 1 economy.
The central bank’s statement, which accompanied a decision to leave interest rates at a record low, added to unease after weak housing figures … Original source on Gaea Times at : World stock markets lose ground after cautious Fed statement on economy.

Reliance Industries buys US shale assets for $1.3 bn

MUMBAI – Reliance Industries (RIL) Thursday said it will pay $1.3 billion for a 45 percent stake in US-based Pioneer Natural Resources’ shale gas assets.

“Reliance will acquire a 45 percent interest in Pioneer’s core Eagle Ford Shale acreage position in two separate transactions. Reliance will pay $1.315 billion for its implied share of 118,000 net …. Original article  : Reliance Industries buys US shale assets for $1.3 bn.

Manmohan Singh leaves for Canada Friday

NEW DELHI – Prime Minister Manmohan Singh leaves Friday for the G20 Summit in Toronto June 26-27 where he is also set to hold talks with his Canadian counterpart Stephen Harper and sign a bilateral nuclear cooperation pact on the lines India has with the US.

On the way to Canada, the prime minister’s special aircraft, … Read the original article on Gaea Times at : Manmohan Singh leaves for Canada Friday.

Obama ally John Podesta among president’s picks for national service agency board

Podesta among Obama’s picks for service board
WASHINGTON – President Barack Obama is nominating John Podesta, a key political ally, to serve on the board that helps set policies and direction for the government’s national service agency.
Podesta, who guided Obama through the presidential transition process, is among seven people Obama …. Source article on Gaea Times at  : Obama ally John Podesta among president’s picks for national service agency board.

Speeding train runs over revelers in Spain, killing 12

12 killed as train hits pedestrians in Spain

CASTELLDEFELS, Spain – A train speeding through a seaside rail station in northeast Spain plowed into a group of youths crossing the tracks to get to a beach party marking the start of summer, killing at least 12 and injuring 14, officials said Thursday.
The youths had just got …. Original source  : Speeding train runs over revelers in Spain, killing 12.

India asks US to remove ISRO, DRDO from banned list

WASHINGTON – India has “very firmly” asked the US to ease export controls and remove top Indian agencies like the Department of Atomic Energy (DAE) and the Indian Space Research Organisation (ISRO) from the banned list.

“We have taken up export controls very firmly” Commerce and Industry Minister, Anand Sharma. told reporters Wednesday at the end … Read : India asks US to remove ISRO, DRDO from banned list.

Oil falls to near $76 in Asia on signs US crude demand, economy sluggish

Oil falls to near $76 amid signs US economy weak

SINGAPORE – Oil prices fell to near $76 a barrel Thursday in Asia amid signs the U.S. economic recovery and demand for crude remain uneven.
Benchmark crude for August delivery was down 26 cents to $76.09 a barrel at late afternoon Singapore time in electronic trading on … Read more >>>.

Exhibit imagines sustainable transportation in New York, Johannesburg, 8 other cities in 2030

NY exhibit imagines utopian, green cities in 2030

NEW YORK – Imagine no cars – or fewer, anyway.
In New York, a two-mile stretch of the FDR Drive parkway is torn down to open lower Manhattan for parks and plazas, and bicyclists are given their own lane on the Brooklyn Bridge.
An elevated highway in Guangzhou, China, is … Read more >>>.

Andrew Phillips replaces Davidar

NEW DELHI – Andrew Phillips of Dorling Kindersley has taken over as head of Penguin International succeeding David Davidar, who quit following allegations of sexual harassment by a former colleague.

Penguin International handles the publishing giant’s businesses in India, Africa and the Middle East. Phillips will take charge in September. …. Source  : Andrew Phillips replaces Davidar.

Democrats confident that bill regulating political activity will pass House vote

Campaign disclosure bill headed for House floor

WASHINGTON – Four months before midterm elections, Democrats are intent on pushing through the House legislation that requires stricter disclosure requirements on political activity by interest groups.
Republicans oppose the bill, arguing the measure is unconstitutional and crafted to place corporations at a disadvantage. Even some Democrats balked in recent … Read more >>>.

G-20 countries face split on issue of stimulus spending versus tackling soaring deficits

G-20 leaders facing worries about rising deficits
WASHINGTON – World leaders who addressed a severe economic crisis with an unprecedented show of strength last year are finding it harder to maintain their solidarity in the face of new challenges.
Despite U.S. appeals to refrain from removing stimulus measures too quickly, country after country is rushing … Original source on Gaea Times at : G-20 countries face split on issue of stimulus spending versus tackling soaring deficits.

World leaders, their standing and their issues heading into summit meetings in Canada

World leaders and their issues before G-20 summit
Leaders of the world’s major industrial countries, representing 85 percent of the global economy, will meet in Canada starting Friday for economic summits of the Group of Eight and G-20 nations. A look at selected countries and their leaders:
UNITED STATES
President Barack Obama has endured a rough … Read more >>>.

South Korean central bank says North Korea’s economy shrank in 2009

Bank of Korea: NKorean economy shrank in 2009

SEOUL, South Korea – North Korea’s impoverished economy shrank last year amid poor harvests, a slump in manufacturing and the weight of strengthened international sanctions targeting its nuclear program.
South Korea’s central bank in a report released Thursday estimated that North Korea’s economy contracted 0.9 percent – the third … Read more : South Korean central bank says North Korea’s economy shrank in 2009.

Sweden’s Hennes & Mauritz profit jumps in Q2 on higher sales and greater efficiency

Sweden’s Hennes & Mauritz Q2 profit jumps 25 pct

STOCKHOLM – Swedish fashion retailer Hennes & Mauritz AB on Thursday reported a near 25 percent jump in second-quarter net profit, boosted mainly by a weaker dollar, lower raw material costs and increased efficiencies.
Profit rose to 5.2 billion kronor ($670 million) from 4.2 billion kronor while sales, … Original source on Gaea Times at : Sweden’s Hennes & Mauritz profit jumps in Q2 on higher sales and greater efficiency.

World Bank lends 9.3 billion to India in FY 10

NEW DELHI – The World Bank is committed to supporting India’s development agenda as is evident from the record annual lending of 9.3 billion dollars for the current financial year.

According to the World Bank website, the total expected lending this year includes 2.6 billion dollars as interest-free credits from the International Development Association (IDA) … Original source on Gaea Times at : World Bank lends 9.3 billion to India in FY 10.

CEOs of Disney, Boeing, Hewlett-Packard join NYC mayor to advocate for immigration reform

NYC mayor, major CEOs lobby for immigration reform

NEW YORK – Chief executives of several major corporations, including Hewlett-Packard, Boeing, Disney and News Corp., are joining Mayor Michael Bloomberg to form a coalition advocating for immigration reform – including a path to legal status for all undocumented immigrants now in the United States.
The group includes several … Read : CEOs of Disney, Boeing, Hewlett-Packard join NYC mayor to advocate for immigration reform.

World Cup: Tourist spending boosts South African economy

PRETORIA – South African economy has received a boost from international tourists flocking the country to watch the 2010 soccer World Cup.

During the period between the kick-off of the World Cup and the first week of the event, spending by visitors exceeded $128 million (R974 million), up 54 percent from $83 million during the same … Original article on : World Cup: Tourist spending boosts South African economy.

Champion Blackhawks to send playoff hero Byfuglien to Thrashers for picks and players

Blackhawks send Byfuglien to Thrashers
ATLANTA – Rick Dudley called upon his five years as an assistant coach in Chicago to bring one of the Stanley Cup champion Blackhawks’ top young players to Atlanta.

Dudley, who in April was promoted to general manager in Atlanta, completed two deals late Wednesday that he said made the Thrashers “significantly … Read this article on Gaea Times at : Champion Blackhawks to send playoff hero Byfuglien to Thrashers for picks and players.