Formula One designer comes up with small city car idea

LONDON – Britain’s famous luxury and Formula One car designer, Gordon Murray, has now come up with the design for an economical electric city car that would cost no more than 6,000 pounds to produce.

The design of T.25 unveiled Monday is being offered as the ultimate solution to “multiple urban mobility problems”. It is easily … Read more >>>.

Rescued teen sailor Abby Sunderland returns to Southern California marina where voyage began

Teen sailor returns to port where her voyage began

MARINA DEL REY, Calif. – Abby Sunderland, the precocious 16-year-old girl who attempted to sail solo around the world, is returning to the port from which she launched her voyage five months ago, her boat having been abandoned in tatters but her spirit unbroken.
Sunderland flew home to …. Original article  : Rescued teen sailor Abby Sunderland returns to Southern California marina where voyage began.

Taiwan’s Foxconn, facing scrutiny over suicides, planning huge new factory in northern China

Foxconn plans China plant amid suicide scrutiny

SHANGHAI – Foxconn Technology, a supplier to Apple Inc., looks ready to build a huge new factory in north-central China despite the company’s own misgivings about city-sized manufacturing facilities after a spate of suicides among its young migrant work force.
The company plans to recruit some 300,000 workers for the …. Source  : Taiwan’s Foxconn, facing scrutiny over suicides, planning huge new factory in northern China.

Anand Sharma sees UK immigration cap affecting business, investors

LONDON – Visiting Minister of Commerce and Industry Anand Sharma has said Indian business leaders and investors have voiced concerns about the British government’s newly announced cap on migrants from outside the European Union.

“Our business leaders, professionals and … Read more : Anand Sharma sees UK immigration cap affecting business, investors.

World stocks slide ahead of crucial Japan business survey, US jobs data; China off 4.3 percent

World stocks slide ahead of crucial Japan, US data

BANGKOK – World markets slid Tuesday as a mammoth share sale in China dragged Shanghai stocks down more than 4 percent and investors trimmed bets before the release of crucial indicators from the world’s two biggest economies.
Investors were wary of riskier assets like stocks following a fall … Read the original article on Gaea Times at : World stocks slide ahead of crucial Japan business survey, US jobs data; China off 4.3 percent.

Samruddhi Cement Lists At Rs 579.75

MUMBAI, INDIA (GaeaTimes.com)- Samruddhi Cement Ltd today made its mark on BSE (Bombay Stock Exchange) with Rs 588 following it’s de-merger from Grasim Industries. Samruddhi Cement and its debut on bourse is in accordance to the restructuring process of Aditya Birla Group for the cement business.
The company has already listed a equity share worth Rs. …. Original source  : Samruddhi Cement Lists At Rs 579.75.

Rajasthan Electronics bags Rs.300 crore order

NEW DELHI – Rajasthan Electronics and Instruments Limited (REIL) Tuesday said it has got a Rs.300 crore order from the Rajasthan government to set up solar power packs in the state.

Out of the Rs.300 crore, central financial assistance of Rs.92 crore has been sanctioned by the ministry of new and renewable energy, said REIL … Original source on Gaea Times at : Rajasthan Electronics bags Rs.300 crore order.

Scanty rains spark drought fears in Bihar

PATNA – Scanty monsoon rains across have triggered fears that Bihar may be headed for another drought.

Monsoon normally hits the state between June 12 and 14. While the rains have begun, they have been scanty.
This has had farmers in Bihar worrying.
“A weak monsoon has affected paddy sowing. Till date, only 40 percent paddy … Read more >>.

Greek unions hold general strike over proposed pension, labor reforms

Greeks walk off job in general strike over reforms

ATHENS, Greece – Public services shut down across Greece Tuesday as workers walked off the job in a new nationwide general strike that disrupted public transport, left hospitals operating on emergency staff and pulled all news broadcasts off the air.
Tension mounted once more in the country’s main … Read more : Greek unions hold general strike over proposed pension, labor reforms.

SBI fixes base rate at 7.5 percent

MUMBAI – The country’s largest lender, State Bank of India (SBI), Tuesday fixed its base rate for lending at 7.5 percent per annum which would kick in from July 1.

The base rate is the minimum interest a bank has to charge on its loans. The Reserve Bank of India had in February dismantled an earlier …. Source article on Gaea Times at  : SBI fixes base rate at 7.5 percent.

Personal relations boost business negotiations

WASHINGTON – Personal relations and good communication are vital ’soft skills’ that result in successful business negotiations, according to a new doctoral thesis.

“A business negotiation refers to a long-lasting relation with a business contact; it is not a mere meeting where two parties sit down and negotiate a business deal. This implies that long term …. Original article  : Personal relations boost business negotiations.

Profit booking kicks in, Sensex down 211 points

MUMBAI – A key index for Indian equities Tuesday fell 211 points in noon trade after traders chose to book profits and Asian markets turned negative.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,777.95 points, was ruling at 17,562.42 points, 211.84 points or 1.19 percent down from its … Read the original article on Gaea Times at : Profit booking kicks in, Sensex down 211 points.

G8 for security, G20 for economy: PM

ON BOARD AIR INDIA ONE – Returning from the G20 Summit in Toronto, Prime Minister Manmohan Singh Tuesday said the idea was to make G20 the main global forum on economy while G8 will focus on security issues.

“As far as G20 is concerned, it has been agreed that this will be the premier forum for … Read more : G8 for security, G20 for economy: PM.

No tax on overseas capital inflows, says PM

ON BOARD AIR INDIA ONE – In what should be music to the ears of foreign funds, Prime Minister Manmohan Singh Tuesday ruled out tax on capital flows from overseas, saying a situation for that had not arisen.

Called the Tobin Tax, named after Nobel laureate James Tobin, such a levy seeks to discourage capital flows, …. Source  : No tax on overseas capital inflows, says PM.

China, Taiwan sign trade deal further linking their economies 6 decades since split

China, Taiwan sign trade pact linking economies
BEIJING – China and Taiwan signed a tariff-slashing trade pact Tuesday that boosts economic ties and further eases political tensions six decades after the rivals split amid civil war.
Beijing hopes the deal, signed live on on state television, can lead to political accommodation. Taiwan is looking for …. Source article  : China, Taiwan sign trade deal further linking their economies 6 decades since split.

Canadian cos. asked to make India their South Asian hub

TORONTO – Inviting Canadian businesses to India, Planning Commission deputy chairman Montek Singh Ahluwalia Monday said the country could serve as their hub for the South Asian region.

Ahluwalia, who was here with Prime Minister Manmohan Singh for the G-20 summit, said India has posted a robust growth rate of about 8 percent despite the adverse … Read more »».

Opposition calls all-India strike July 5

NEW DELHI – The Left parties, AIADMK, Telugu Desam Party, Samajwadi Party, Biju Janata Dal (BJD), Janata Dal-Secular (JD-S) and the Indian National Lok Dal (INLD) Tuesday called for a countrywide dawn-to-dusk strike July 5 to protest against the fuel price hike.

The parties accused the Congress-led government of giving “another cruel blow” to the … Original source on Gaea Times at : Opposition calls all-India strike July 5.

Diesel prices will also be decontrolled: PM

ON BOARD AIR INDIA ONE – Saying that people will understand the perils of excessive populism, Prime Minister Manmohan Singh Tuesday said diesel prices will also be decontrolled on the lines of petrol last week.

“Subsidies for petroleum products have reached a level which is not connected to sound financial management of our economy,” he told …. Original article on Gaea Times at  : Diesel prices will also be decontrolled: PM.

Asian stocks slide ahead of crucial Japan business survey, US jobs data; China off 3.3 percent

Asian stocks slide ahead of crucial Japan, US data

BANGKOK – Asian markets slid Tuesday as a mammoth share sale in China dragged Shanghai stocks down more than 3 percent and investors trimmed bets before the release of crucial indicators from the world’s two biggest economies.
Investors were wary of riskier assets like stocks following a fall … Read the original article on Gaea Times at : Asian stocks slide ahead of crucial Japan business survey, US jobs data; China off 3.3 percent.

Scope for cooperation in IT changing: Karnik (Interview)

NEW DELHI – The scope for cooperation is changing in the IT industry in new markets, according to former NASSCOM chairman and IT heavyweight Kiran Karnik.

“The focus in new markets is on innovation. Big companies will enter into partnerships with smaller companies that have niche expertise in particular areas either at home or abroad,” Karnik … Original source on Gaea Times at : Scope for cooperation in IT changing: Karnik (Interview).