UK’s major banks say mortgage lending at 8 1/2 year low in January

UK mortgage loans at 8 1/2 year low in January

LONDON – Mortgage lending in Britain hit the lowest level in 8 1/2 years in January at 8 billion pounds ($12.4 billion), major banks reported Tuesday.
The British Bankers Association report is in line with last week’s report from the broader-based Council of Mortgage Lenders showing gross …. Source  : Gaea News Network.

World stock markets mostly higher as dollar weakens ahead of Bernanke reports

World markets mostly higher as dollar weakens

HONG KONG – Most global markets advanced Tuesday as the dollar weakened amid growing confidence the U.S. would continue to hold down borrowing rates to revive its economy.
Most Asian bourses, down early following declines overnight in the U.S., rebounded later in the day, with European shares following them higher. …. Original source  : World stock markets mostly higher as dollar weakens ahead of Bernanke reports.

February German business confidence drops for the first time in 10 months, Ifo survey says

German business confidence drops in February

FRANKFURT – A closely watched survey shows German business confidence dropped for the first time in 10 months in February, with the retail sector especially hurt by harsh winter weather.
The Ifo business confidence survey from the University of Munich, released Tuesday, says its index fell to 95.2 points from 95.8 … Read more : February German business confidence drops for the first time in 10 months, Ifo survey says.

Danish beer maker Carlsberg posts more than threefold rise in Q4 profit, helped by lower costs

Carlsberg Q4 profits more than triple
COPENHAGEN – Danish brewer Carlsberg A/S on Tuesday reported a more than threefold rise in fourth quarter net profit, to 383 million kroner ($70 million), thanks mainly to reduced costs.

The result compared with a profit of 111 million kroner in the same three months a year earlier.
The beer maker said … Read this article on Gaea Times at : Danish beer maker Carlsberg posts more than threefold rise in Q4 profit, helped by lower costs.

HP unveils technology solutions for small businesses, retail

NEW DELHI – Global IT major HP Tuesday unveiled technology solutions for the retail sector and small and medium businesses, designed to cut costs and enhance customer experience.

The retail technologies launched here include touch-enabled personal computers, point-of-sale systems, and LCD digital signages with an interactive display.
“In-store technology solutions have the potential to transform the … Read more : HP unveils technology solutions for small businesses, retail.

Jharkhand petrol pumps strike against tax hike

RANCHI – Petrol pumps in Jharkhand were closed Tuesday, causing inconvenience to residents, as the dealers called for a one-day strike to protest a 5.5 percent Value Added Tax (VAT) hike on diesel.

The Jharkhand government early this month had hiked VAT on diesel from 14.5 percent to 20 percent, causing rise of diesel prices up … Read the original article on Gaea Times at : Jharkhand petrol pumps strike against tax hike.

Choppers to give boost to Mizoram tourism, governance

AIZAWL – Mizoram will introduce helicopter services in the mountainous northeastern state to not only take the administration into remote areas but also to boost tourism, officials said here Tuesday.

“Mizoram Chief Minister Lal Thanhawla held a meeting last week with the top official of state-owned helicopter services company Pawan Hans. Another meeting between officials of … Original source on Gaea Times at : Choppers to give boost to Mizoram tourism, governance.

Mexican GDP fell 6.5 percent in 2009

Mexico City, Feb 23 (IANS/EFE) Mexico’s gross domestic product (GDP) shrank by 6.5 percent last year amid the global recession, authorities said.

The figure was at the less severe end of the range of 6.5 percent to 7.5 percent decline forecast by the Mexican central bank, the Inegi statistics agency said.
Media outlets described 2009 as … Read the original article on Gaea Times at : Mexican GDP fell 6.5 percent in 2009.

German tires, car parts maker Continental 2009 net loss widens 50 percent to $2.2 billion

Continental 2009 loss widens 50 pct to $2.2B

FRANKFURT – German tires and car parts maker Continental AG says its net loss for 2009 widened by 50 percent as the economic downturn sapped demand for its products.
The Hanover-based company says the net loss of euro1.65 billion ($2.2 billion) compared with a loss of euro1.1 billion in … Read : German tires, car parts maker Continental 2009 net loss widens 50 percent to $2.2 billion.

Communist party-backed protesters blockade Greek stock market

Protesters blockade Greek stock exchange
ATHENS, Greece – Members of a trade union have blockaded the Athens Stock Market to protest government austerity measures aimed at tackling Greece’s debt crisis.

Protest organizers, backed by the Communist party, say they plan to maintain the blockade through Tuesday and have so far prevented the building from opening for business. …. Original article  : Communist party-backed protesters blockade Greek stock market.

Himachal seeks $500 mn loan to extend watershed project

SHIMLA – Buoyed by the success of a World Bank-aided watershed development project in the state, Himachal Pradesh is planning to replicate the project in other areas too, an official said here Tuesday.

“The Mid-Himalayan Watershed Development Project that is being implemented in 602 gram panchayats in the state has played an important role in boosting … Read more : Himachal seeks $500 mn loan to extend watershed project.

Calif. lawmakers to question Anthem Blue Cross over proposed hike in insurance premiums

Calif. insurer to face questioning over rate hike
SACRAMENTO, Calif. – Anthem Blue Cross executives are scheduled to testify Tuesday before a California legislative committee about an attempt to boost insurance premiums by up to 39 percent, a proposal that has become a flash point in the national debate over health care reform.
The rate … Read more »».

Business culture influences product ideas

WASHINGTON – A University of Illinois marketing study has found that the business culture that companies emphasize has an effect on new product ideas.

According to the research, groundbreaking ideas spring most from companies that stress technology, rather than customer needs or staying ahead of competitors.
The study showed that firms that focus on their competitors or … Read the original article on Gaea Times at : Business culture influences product ideas.

Congressional Democrats cautiously embrace Obama health plan as last, best chance for reform

Democrats cautiously embrace Obama health plan
WASHINGTON – Congressional Democrats cautiously embraced President Barack Obama’s new health care plan as their last hope for enacting a comprehensive overhaul. Republicans trashed it, dimming prospects for any deal at the bipartisan health care summit that Obama has scheduled for Thursday to try to jump-start the debate.
A … Read this article on Gaea Times at : Congressional Democrats cautiously embrace Obama health plan as last, best chance for reform.

A look at Obama’s health care proposal

Details of Obama health care plan
President Barack Obama released a health care overhaul proposal Monday that builds on legislation passed Christmas Eve by the Senate, and makes some changes to placate Democrats in the House. Here are some of the main features:
-HOW MANY COVERED: Like the Senate bill, Obama’s proposal would cover 31 …. Read the original article  : here.

Data on ECB/FCCB for January 2010

The Reserve Bank of India has today released the data on External Commercial Borrowings (ECB) (rbi.org.in/scripts/ECBUserView.aspx?Id=74) and Foreign Currency Convertible Bonds (FCCB), both through Automatic Route and Approval Route, for the month January 2010.
Ajit Prasad
Manager
Press Release : 2009-2010/1163

…. Original source  : Data on ECB/FCCB for January 2010.

Reserve Bank Cancels the Licence of Ichalkaranji Urban Co-operative Bank Ltd., Ichalkaranji, Kolhapur, Maharashtra

In view of the fact that Ichalkaranji Urban Co-operative Bank Ltd., Ichalkaranji, Kolhapur, Maharashtra had ceased to be solvent, all efforts to revive it in close consultation with the Government of Maharashtra had failed and the depositors were being inconvenienced by continued uncertainty, the Reserve Bank of India delivered [..] Read the original article: here.

Britain wants India-EU trade deal by 2010 to protect jobs, increase trade

LONDON – With agreement stalled on a number of issues, including India’s demand for European countries to open up their borders to skilled Indian IT workers in return for European legal professionals to work in India, Britain is pushing for rapid conclusion of a long-delayed free trade agreement between India and the 27-nation Europe Union, … Original article on : Britain wants India-EU trade deal by 2010 to protect jobs, increase trade.

Expert: China vows to improve life for rural youth who’ve left the farm

China promises better benefits for rural migrants

BEIJING – China will grant young migrant workers more social service benefits and help them rent or buy homes in smaller cities, a government adviser said Tuesday.
For decades, China has restrained migration by linking access to low-cost public services like health care and education to a person’s registered place …. Source  : Expert: China vows to improve life for rural youth who’ve left the farm.

Germany’s Commerzbank posts $2.6 billion 4th quarter loss on increase in write-downs

Commerzbank posts $2.6 billion Q4 loss
BERLIN – Germany’s Commerzbank AG said Tuesday its fourth-quarter loss widened to ???1.9 billion ($2.6 billion) due to write-downs related to bond insurer investments and provisions for bad loans.

The loss for the final three months of 2009 compared with an ???809 million loss the year before.
Shares of Commerzbank were down …. Original source  : Germany’s Commerzbank posts $2.6 billion 4th quarter loss on increase in write-downs.