Asian and European stock markets fall as Greece debt crisis weighs; Tokyo down 1 pct

World stocks fall as new Greece worries weigh

HONG KONG – World stock markets dropped along with the euro Thursday amid growing concerns about Greece’s ability to bring its debt crisis under control.
Major markets in Asia were down around 1 percent or less and European shares opened lower. The euro fell to near its lowest point …. Source article on Gaea Times at  : Asian and European stock markets fall as Greece debt crisis weighs; Tokyo down 1 pct.

India’s food inflation now at 17.58 percent

NEW DELHI – India’s annual food inflation based on wholesale prices fell to 17.58 percent for the week ended Feb 13 from 17.97 the week before, as per official data released Thursday.

Prices of essential items continued to move up, with vegetables dearer by 13.57 percent, potatoes by 30.4 percent, pulses by 35.74 percent and fruits … Read the original article on Gaea Times at : India’s food inflation now at 17.58 percent.

No Metro service on Holi morning

NEW DELHI – The Delhi Metro will operate only after 2 p.m. Monday on the occasion of Holi, an official said Thursday.

All services on the four Metro lines that connect various parts of the national capital — Dilshad Garden to Rithala, Jahangirpuri to Central Secretariat, Noida City Centre to Dwarka Sec-9 and Anand Vihar to …. Source article on Gaea Times at  : No Metro service on Holi morning.

Henkel, maker of Dial soap, says 4th quarter profit down 80 percent after Ecolab stake sale

Germany’s Henkel Q4 net profit down 80 percent

BERLIN – Henkel, the German maker of soap, laundry detergent and other household products, said Thursday that its fourth quarter profit slipped 80 percent from last year because of the sale of its stake in Ecolab.
Despite the dip, the company, whose products include the famed U.S. Dial brand, …. Original article on Gaea Times at  : Henkel, maker of Dial soap, says 4th quarter profit down 80 percent after Ecolab stake sale.

French defense minister says European nations, EADS finalizing deal on Airbus A400M plane

France: Deal on Airbus A400m plane being finalized

PALMA DE MALLORCA, Balearic Islands – The French defense minister says the seven nations behind Airbus’ A400M military transport plane are finalizing a deal with manufacturer EADS “step by step.”
Defense Minister Herve Morin said EADS has asked for guarantees that the total number planes on order – 180 …. Read the original article  : French defense minister says European nations, EADS finalizing deal on Airbus A400M plane.

Railway Budget 2010 Defended By Railway Minister

NEW DELHI, INDIA (GaeaTimes.com)- Expectations of the countrymen as well as politicians were high on the Indian railway budget 2010 which was presented by Mamata Banerjee, the union minister of Railways, yesterday afternoon. While the budget has received overall warm responses from the industry and politicians in general, a section of the media and … Original article on : Railway Budget 2010 Defended By Railway Minister.

Royal Bank of Scotland loses $5.5 billion for year, say bad loans may have peaked

Royal Bank of Scotland loses $5.5 billion in 2009

LONDON – Royal Bank of Scotland Group PLC, government-owned after being bailed out, reported a loss of 3.6 billion pounds for 2009 but beat expectations and said the peak of bad loans from the economic crisis may have passed.
CEO Stephen Hester, who along with his deputy waived …. Source article  : Royal Bank of Scotland loses $5.5 billion for year, say bad loans may have peaked.

Citi hires Joanne Allen to head human resources for Australia and New Zealand

SYDNEY – Citigroup today announced the appointment of Joanne Allen as Head of Human Resources for Citi in Australia and New Zealand.

Joanne rejoins the company after two years managing a HR consulting business. Prior to this, …. Source article  : Citi hires Joanne Allen to head human resources for Australia and New Zealand.

Scope for introduction of catastrophe bonds

NEW DELHI – There is scope for introduction of catastrophe bonds in the Indian capital market and it is an area that needs focus in the future, according to the Economic Survey laid in parliament Thursday.

“Capital market solutions for catastrophe risk insurance are another area that needs focus,” the survey noted.
In other words, transfer …. Original article  : Scope for introduction of catastrophe bonds.

Government clueless on price rise: BJP

NEW DELHI – The government has “run out of ideas” on controlling the spiralling prices of essential commodities and is “only looking for alibis” to cover up for its failures, main opposition Bharatiya Janata Party (BJP) said Thursday.

“Has this government run out of ideas on how to control prices,” Leader of Opposition Arun Jaitley asked … Read more »»».

Viktor Yanukovych, foe of the Orange Revolution, inaugurated as Ukraine’s president

Viktor Yanukovych inaugurated as Ukraine president

KIEV, Ukraine – Viktor Yanukovych was inaugurated as Ukraine’s president Thursday, five years after his first bid failed amid massive protests over vote fraud.
Yanukovych took the oath of office in the Verkhovna Rada, the Ukrainian parliament that has been the scene of intense maneuvering over the future of his rival …. Original article  : Viktor Yanukovych, foe of the Orange Revolution, inaugurated as Ukraine’s president.

Metro services to be curtailed on Holi

NEW DELHI – Services of the Delhi Metro will be cutrailed for Holi festival Monday, an official said Thursday.

All services on the four Metro lines that connect various parts of the national capital — Dilshad Garden to Rithala, Jahangirpuri to Central Secretariat, Noida City Centre to Dwarka Sec-9 and Anand Vihar to Yamuna Bank — …. Source  : Gaea News Network.

Rail budget has little for northeast, say parties

AGARTALA/GUWAHATI – Reactions to Railway Minister Mamata Banerjee’s budget appeared to be sharply divided in India’s northeast Thursday, with several political parties saying it would not improve connectivity in the region. However, the document was welcomed by a powerful industry lobby as “very positive”.

The Federation of Industry and Commerce of North Eastern Region (FINER), an …. Original article on Gaea Times at  : Rail budget has little for northeast, say parties.

More than 500,000 jobs added in second quarter: Economic Survey

NEW DELHI – The job market in India made a significant recovery during the second quarter of this fiscal with employment up by 500,000 against a cut of 131,000 in the country’s employed workforce between April and June 2009, says the Economic Survey tabled Thursday.

The survey covered eight sectors such as textiles, leather, metals, … Read more : More than 500,000 jobs added in second quarter: Economic Survey.

Kiwi firm to make personal jet packs

CHRISTCHURCH – A company in New Zealand is to begin production of a commercial jet pack.
According to The Telegraph, Christchurch-based Martin Aircraft Company aims to make 500 packs a year and sell them for around 50,000 pounds.

The 200 horsepower dual-propeller packs are the …. Original article on Gaea Times at  : Kiwi firm to make personal jet packs.

German utility RWE 2009 net income up nearly 40 percent to $4.9 billion

RWE 2009 net income up nearly 40 pct
FRANKFURT – German utility RWE AG said Thursday its 2009 net income improved by nearly 40 percent as newly acquired Dutch energy company Essent made its first contribution to earnings.

RWE, based in Essen, said it earned ???3.6 billion ($4.88 billion) in 2009 compared with ???2.6 billion in 2008. … Read : German utility RWE 2009 net income up nearly 40 percent to $4.9 billion.

Infrastructure bottlenecks main roadblock in Indian industry’s growth

NEW DELHI – The outlook for Indian industry has brightened for the medium term but infrastructure bottlenecks, particularly in energy and roads, remain the constraining factors for stepping up growth to a higher level, says the Economic Survey for this fiscal.

“One of the biggest challenges to sustaining and stepping up industrial growth lies in removing … Read : Infrastructure bottlenecks main roadblock in Indian industry’s growth.

Highlights of the Economic Survey

NEW DELHI – Following are the highlights of the annual Economic Survey for the current fiscal tabled by the Finance Minister Pranab Mukherjee in the Lok Sabha Thursday:

- Gross domestic product expected to grow 8.25 percent – 8.75 percent in 2009-10
- Economic growth during next fiscal may breach 9 percent
- Government should free … Read more »»».

Survey favours cut in excise duties on exports

NEW DELHI – Even as the prospects for Indian merchandise trade have brightened, it needs further cuts in excise duties, said the Economic Survey for 2009-10.

“The outlook for India’s trade sector in 2010 has brightened with prospects of recovery in world output and trade volumes. While in the short term, relief and stimulus measures have …. Source  : Gaea News Network.

Lawmakers invited to Obama’s health care summit

Lawmakers invited to health care summit
The White House invited 22 high-ranking lawmakers to Thursday’s summit on health care and asked the top four congressional leaders to designate four more lawmakers each to attend.

Lawmakers invited by the White House:
Senate Majority Leader Harry Reid, D-Nev.
Senate Minority Leader Mitch McConnell, R-Ky.
Senate Majority Whip Richard Durbin, D-Ill.
Senate Minority Whip …. Source  : Gaea News Network.