Russia’s arms industry aims to reassert itself at DefExpo

NEW DELHI – Russia, which was once India’s principal source of arms imports but which has seen its market share steadily declining over the years, will aim to reassert itself at Asia’s largest defence exposition here Feb 15-18, with 31 organisations, including six major companies in the field of military-technical cooperation, showcasing their wares.

And, … Read more : Russia’s arms industry aims to reassert itself at DefExpo.

Republican response mixed on invitation to President Obama’s health care summit

Mixed GOP response to WH health summit invite
WASHINGTON – Congressional Republicans sent mixed signals after President Barack Obama challenged them to participate in a one-of-a-kind televised summit with Democrats to come up with legislation on overhauling the nation’s health care.
House Republicans derided the Feb. 25 event, casting doubt on whether it would yield …. Source article  : Republican response mixed on invitation to President Obama’s health care summit.

Reports: Japan’s Shinsei, Aozora banks may give up on merger plan

Reports: Japanese banks may drop merger plan

SEOUL, South Korea – Japan’s Shinsei Bank Ltd. and Aozora Bank Ltd. – two midsize lenders with major U.S. shareholders – could call off their plan to merge later this year amid differences over management, strategy and system integration, news reports said Saturday.
The two companies announced the merger plan … Read more : Reports: Japan’s Shinsei, Aozora banks may give up on merger plan.

Singapore premier urges couples to have more babies

SINGAPORE – Singapore Prime Minister Lee Hsien Loong Saturday called on couples to have more children as the city-state’s birth rate slipped to its lowest level in 2009.

“Despite all our efforts, we are producing far too few babies,” Lee said in a message marking Sunday’s start of the lunar Year of the Tiger.
“Last year, …. Original source  : Singapore premier urges couples to have more babies.

SAIL commissions pipe coating plant at Rourkela

BHUBANESWAR – State-owned Steel Authority of India Limited (SAIL), one of India’s leading steel makers, has commissioned a pipe coating plant at its Rourkela unit in order to explore the niche market of coated pipes, an official said Saturday.

SAIL chairman S.K. Roongta inaugurated the facility at Rourkela steel plant, some 378 km from Orissa’s capital … Read more >>.

Sensex moves up 236 points over the week (Weekly Market Review)

MUMBAI – Indian stock markets seemed to have stabilised this week after rampant selling pressure weighed heavily on key indices for a month. A benchmark index logged modest gains – moving 236 points up from its previous weekly close.

The markets, which were closed Friday on account of Mahashivratri, shook off the worries from rising sovereign … Read more >>.

‘Amazon to give away Kindle readers to thwart iPad threat’

SAN FRANCISCO – Amazon wants to start giving away its Kindle electronic reader to thwart the threat posed by Apple’s new iPad, according to a report Friday by the influential technology site TechCrunch.com.

The report said that Amazon would start by providing the $259 device to subscribers of Amazon Prime, a $79 per year service that …. Read the original article  : ‘Amazon to give away Kindle readers to thwart iPad threat’.

Tens of millions on the move in China for Lunar New Year; airports, trains, buses overflowing

Millions on the move in China for Lunar New Year

BEIJING – Train and bus stations overflowed and airports were packed Saturday as tens of millions of Chinese rushed home to be with their families for the start of the Lunar New Year holiday and the Year of the Tiger.
The annual holiday is the most important … Read this article on Gaea Times at : Tens of millions on the move in China for Lunar New Year; airports, trains, buses overflowing.

China says most tainted milk products recently discovered have been recalled and destroyed

China says most tainted milk products recalled

BEIJING – Most of the contaminated milk products that resurfaced in China recently have been recalled and destroyed, the Health Ministry said Saturday.
Earlier this week China declared a new food-safety campaign after melamine-tainted milk products from an earlier scandal showed up repackaged in several places around the country, exposing …. Source article  : China says most tainted milk products recently discovered have been recalled and destroyed.

US stocks fall on stalled European economy

NEW YORK – Most major US stock indices fell amid signs that Europe’s economic recovery was stalling.

The 16-member eurozone grew less than expected in the final quarter of 2009, adding just 0.1 percent of gross domestic product (GDP), according to the European Union’s statistical arm, Eurostat.
Analysts had predicted a quarter-on-quarter growth rate of 0.4 … Read more »».

Naomi Campbell returns to the runway for Haiti relief charity fashion show

Naomi Campbell wows catwalk crowd at charity show

NEW YORK – Naomi Campbell called together her model, designer and celebrity friends to put on a fundraiser Friday night for the relief effort in Haiti, but the most poignant moments of this event, held as part of New York Fashion Week, was the finale tribute to Alexander …. Read the original article  : Naomi Campbell returns to the runway for Haiti relief charity fashion show.

Mexico’s army finds incomplete tunnel leading from Mexican customs facility toward US border

Mexican soldiers discover tunnel near US border

TIJUANA, Mexico – Mexican troops have found an unfinished tunnel apparently designed to burrow under the U.S. border starting from a Mexican customs facility.
Drug smugglers and human traffickers often use such tunnels. Mexico’s customs service has been beset by corruption for decades.
A statement issued Friday by Mexico’s army says …. Source  : Gaea News Network.

Nuggets extend coach Karl’s contract through 2011, financial terms undisclosed

Nuggets extend Karl’s contract through 2011

DENVER – Denver Nuggets coach George Karl agreed to a new contract that runs through the 2010-11 NBA season.
The team announced the deal Friday but did not disclose the financial terms.
Karl has led the Nuggets to a 35-18 record this season and will be coaching the Western Conference All-Start team …. Source article  : Nuggets extend coach Karl’s contract through 2011, financial terms undisclosed.

Union executive director Hunter says NBA tears up proposal after ‘contentious’ meeting

Union: NBA tears up proposal after heated meeting

DALLAS – Every time he read an inflammatory comment about how the league was going to crush the union in collective bargaining talks, Billy Hunter e-mailed it to every NBA player.
Some of basketball’s biggest names definitely received the message.
Fortified by the presence of All-Stars such as LeBron James, …. Original article on Gaea Times at  : Union executive director Hunter says NBA tears up proposal after ‘contentious’ meeting.

Amid Toyota recalls, workers rally to save California auto plant where 4,600 jobs at risk

Amid Toyota recalls, workers rally to save CA jobs

SAN JOSE, Calif. – Dozens of workers rallied Friday to save a Northern California auto plant where more than 4,600 people could lose their jobs if Toyota stops production at the end of March.
Labor leaders said closing the New United Motor Manufacturing Inc. plant – the sole …. Source  : Gaea News Network.

Toyota says it is reviewing safety issues ahead of Congressional hearings on recalls

Toyota answers Congress questions before hearings

WASHINGTON – Toyota Motor Corp. offered concessions Friday to congressional investigators ahead of planned hearings later this month on the company’s safety woes, saying it would re-examine some customer complaints and weigh new safety measures.
The automaker will consider expanding the installation of a braking system that can override a vehicle’s … Original source on Gaea Times at : Toyota says it is reviewing safety issues ahead of Congressional hearings on recalls.

Voxware narrows fiscal 2nd-quarter loss narrows as expenses decline

Voxware narrows fiscal 2nd-qtr loss as costs dip

HAMILTON, N.J. – Voxware Inc., which makes voice-driven software for use in warehouse operations, said Friday that its fiscal second-quarter loss narrowed as costs fell.
For the quarter ended Dec. 31, Voxware reported a loss of $528,000, or 7 cents per share, compared with a loss of $1.7 million, [..] Read the original article: here.

US lawmakers pledge to seek more funding for Haiti’s recovery after meeting with president

US lawmakers pledge more funding for Haiti

PORT-AU-PRINCE, Haiti – A delegation of U.S. lawmakers led by House Speaker Nancy Pelosi told Haiti’s president Friday that they will seek increased funding for the country’s recovery from the catastrophic earthquake.
The 12 legislators toured destroyed areas of Port-au-Prince and a hospital overwhelmed with injured before meeting with President …. Source  : US lawmakers pledge to seek more funding for Haiti’s recovery after meeting with president.

American Airlines and Japan Airlines seek antitrust immunity for trans-Pacific service

American Air, Japan Airlines seek antitrust deal

DALLAS – American Airlines said Friday it has asked U.S. regulators to let it work more closely with Japan Airlines without violating antitrust laws.
The two airlines already sell seats on each other’s flights. Antitrust immunity would let them go further, even working together to set prices and schedules.
American said …. Source article  : American Airlines and Japan Airlines seek antitrust immunity for trans-Pacific service.

Kraft Foods Inc. to report 4th-qtr results Tuesday

Earnings Preview: Kraft Foods Inc.
PORTLAND, Ore. – Kraft Foods Inc., the nation’s largest food maker, reports its fourth-quarter results before the market opens on Tuesday.

WHAT TO WATCH FOR: Kraft will provide an update on its core business and strategy now that the focus isn’t entirely on its acquisition of British candy maker Cadbury PLC.
The maker …. Source article on Gaea Times at  : Kraft Foods Inc. to report 4th-qtr results Tuesday.

Amid Toyota recalls, workers rally at California plant where 4,600 jobs at risk

Amid Toyota recalls, workers rally at Calif. plant

SAN JOSE, Calif. – Dozens of workers rallied Friday to save a Northern California auto plant where more than 4,600 people could lose their jobs if Toyota stops production at the end of March.
Labor leaders said closing the New United Motor Manufacturing Inc. plant – the sole remaining …. Original source  : Amid Toyota recalls, workers rally at California plant where 4,600 jobs at risk.

Bar and eatery owner Ark Restaurants posts loss in 1st Quarter as sales fall

Ark Restaurants posts loss for 1Q
NEW YORK – Ark Restaurants Corp., which owns dozens of restaurants, bars and food court eateries across the country, on Friday posted a loss for its first quarter as sales slowed.

Ark CEO Michael Weinstein said the quarter, which ended Jan. 2, was a challenge in part because of a drop …. Read the original article  : Bar and eatery owner Ark Restaurants posts loss in 1st Quarter as sales fall.

Summary Box: Rates slide as China takes steps to slow its economy by limiting bank loans

Summary Box: Interest rates fall on China fears

WHAT DROVE DOWN RATES? Investors bought Treasurys after China said it was taking steps to slow lending by its banks to keep economic growth under control. The rise in Treasurys pushed interest rates lower.
WHY IS CHINA A CONCERN? A weaker China could mean less business for U.S. companies …. Source  : Gaea News Network.

GOP activist and former US Treasurer Francine Neff dies at 84

Former US Treasurer Francine Neff dies at 84

ALBUQUERQUE, N.M. – Francine Neff, who served as U.S. treasurer in the 1970s and was deeply involved in Republican politics for decades, has died at age 84.
Neff, who grew up in rural New Mexico, died Tuesday of heart failure at her home in Pena Blanca, according to her …. Original article on Gaea Times at  : GOP activist and former US Treasurer Francine Neff dies at 84.

After union setbacks, Teamsters win bid to represent Continental Airlines ground workers

Teamsters win bid to represent Continental workers

DALLAS – The Teamsters won an election to represent Continental Airlines ground workers who had rejected bids by other unions in recent years.
The Teamsters said Friday that about 4,100 workers out of 7,600 voted to join the union.
The airline industry is among the most heavily unionized in the U.S. … Read : After union setbacks, Teamsters win bid to represent Continental Airlines ground workers.

Motorola, Ingersoll-Rand, SkillSoft, Pier 1, McAfee are among market movers Friday

Motorola, Ingersoll-Rand, SkillSoft are big movers

NEW YORK – The following stocks were among those that moved substantially or traded heavily on the New York Stock Exchange or Nasdaq Stock Market Friday:
NYSE:
Motorola Inc., up 50 cents to $7.15
The company plans to split in two early next year, with one unit focused on consumer goods and the …. Source article  : Motorola, Ingersoll-Rand, SkillSoft, Pier 1, McAfee are among market movers Friday.

Summary Box: Stock market ends mixed after China curbs bank lending to slow its economy

Summary Box: Stocks end mixed as industrials slide

WHAT THE DOW DID: The Dow Jones industrial average jumped closed down 45 points after falling as much 160 following China’s latest move to curtail bank lending. Chinese leaders are hoping to prevent economic growth from getting out of control.
WHY DOES GROWTH IN CHINA MATTER? A slowdown in … Read the original article on Gaea Times at : Summary Box: Stock market ends mixed after China curbs bank lending to slow its economy.

Ark. GOP Senate hopeful: No apology needed for comparing stem cell work to Nazi tests on Jews

Ark. candidate likens stem cell work to Nazi tests

LITTLE ROCK, Ark. – A Republican candidate for a U.S. Senate seat in Arkansas says he sees no need to apologize for comparing stem cell research to Nazi experiments on Jews during the Holocaust.
Curtis Coleman told nationally syndicated radio host Thom Hartmann on Thursday that he stood …. Original article  : Ark. GOP Senate hopeful: No apology needed for comparing stem cell work to Nazi tests on Jews.

Political drama in Calif. underscores Schwarzenegger’s challenge as he begins final year

Calif. political drama bad sign for Schwarzenegger

SACRAMENTO, Calif. – At the start of his final year in office, Gov. Arnold Schwarzenegger appealed to California lawmakers to work with him to pull the state out of its financial crisis and reform state government.
Democrats in the state Assembly sent him a reply this week when they rejected … Read : Political drama in Calif. underscores Schwarzenegger’s challenge as he begins final year.

A list of lawmakers invited to Obama’s health care summit

A list of lawmakers invited to health care summit
The White House has invited 21 high-ranking lawmakers to a Feb. 25 summit on health care at Blair House, across the street from the White House. The session will begin with an opening statement from President Barack Obama, followed by remarks from a Republican chosen … Read : A list of lawmakers invited to Obama’s health care summit.

Chicago man’s lawsuit claims 3 companies failed to prevent salmonella outbreak

Chicago man sues claiming salami made him sick

CHICAGO – A Chicago man who says he got sick after eating salami linked to a nationwide salmonella outbreak has filed a lawsuit against a meat company and two of its former spice suppliers.
Raymond Cirimele, 55, filed suit Thursday in Cook County Circuit Court, claiming Rhode Island meat …. Read the original article  : Chicago man’s lawsuit claims 3 companies failed to prevent salmonella outbreak.

Bargain buys?: Cash-strapped governments hawking commercial properties, courting investors

States turn to commercial properties for cash

LOS ANGELES – Political cynics often joke about statehouses being for sale to the highest bidder. These days, that’s not far from the truth.
State and local governments are grappling with budget shortfalls and some are eyeing their office high-rises, prisons and even capitol buildings as assets to be sold …. Source  : Bargain buys?: Cash-strapped governments hawking commercial properties, courting investors.

Ark firm agrees to $2.75M settlement of wage lawsuit brought by migrant forest workers in Tenn

Migrant forest workers get $2.75M wage settlement

LITTLE ROCK, Ark. – A company that provides migrant labor for the forestry industry has agreed to pay $2.75 million to more than 2,200 workers who claimed in a federal lawsuit that they were shortchanged on their wages.
Superior Forestry Service Inc., based in Tilly in southeast Arkansas, and the … Read the original article on Gaea Times at : Ark firm agrees to $2.75M settlement of wage lawsuit brought by migrant forest workers in Tenn.

Summary Box: Dollar hits 9-month high versus euro on European debt, Chinese lending concerns

Summary Box: Dollar hits 9-month high versus euro

A 9-MONTH HIGH FOR THE DOLLAR: The 16-nation euro dropped as low as $1.3533 versus the dollar, its weakest point since May 2009. It’s down nearly 12 percent from a recent high level of $1.51 last November.
WHAT’S DRIVING THE DOLLAR HIGHER: Analysts say it’s not dollar strength – …. Original article  : Summary Box: Dollar hits 9-month high versus euro on European debt, Chinese lending concerns.

Stocks finish mixed after China curbs bank lending to slow its economy; Dow falls 45 points

Stocks end mixed after China slows lending again

NEW YORK – Industrial stocks stumbled Friday after China said it would take more steps to keep its economy from growing too fast.
The Dow Jones industrial averaged closed down 45 points but had fallen as much as 160 points. Shares of three Dow stocks with extensive business overseas …. Source article  : Stocks finish mixed after China curbs bank lending to slow its economy; Dow falls 45 points.

White House announces format, guests for bipartisan health care summit

White House sends out invites for health summit
WASHINGTON – In a make or break move, President Barack Obama on Friday challenged three dozen Republicans and Democrats to participate in a one-of-a-kind televised summit this month to thrash out a deal on health care.
House Republicans immediately greeted the …. Source article on Gaea Times at  : White House announces format, guests for bipartisan health care summit.

Buffett’s Berkshire Hathaway completes BNSF railroad deal for nearly $27B in cash and stock

Berkshire completes acquisition of BNSF railroad

OMAHA, Neb. – Warren Buffett’s company completed its largest acquisition ever Friday when it bought Burlington Northern Santa Fe Corp.
Berkshire Hathaway Inc. also joined the S&P 500 and S&P 100 stock indexes after Friday’s close of the markets because as part of the BNSF deal, the Omaha-based company gained liquidity …. Original article  : Buffett’s Berkshire Hathaway completes BNSF railroad deal for nearly $27B in cash and stock.

House Dems offer mixed signals on pared down Senate jobs bill, jeopardizing quick passage

House Dems offer mixed signals on Senate jobs bill
WASHINGTON – House Democratic leaders sent mixed signals Friday on a new jobs bill supported by Senate Majority Leader Harry Reid, and a senior Republican senator predicted his party will block action on the Senate floor.
The two events further complicated plans to … Read more >>.

Wheat, corn futures drop on Chicago BOT, oats, soybeans gain; livestock prices mostly lower

Agriculture prices mixed, livestock futures drop

CHICAGO – Agriculture futures traded mixed Friday on the Chicago Board of Trade.
Wheat for March delivery dropped 7 cents to $4.865 a bushel; March corn slid 1.75 cents to $3.615 a bushel; March oats added 0.5 cent to $2.3275 a bushel; and March soybeans gained 2 cents to $9.45 a … Read more »»».

At NY Fashion Week, sea of fashionable black on runways and in front rows

At NY Fashion Week, sea of fashionable black

NEW YORK – Don’t let anyone tell you there’s a new black.
Black – the original – was all over the runways at New York Fashion Week on Friday, and all over the audience, too: Three out of four editors in the front rows wore black for the second …. Original article on Gaea Times at  : At NY Fashion Week, sea of fashionable black on runways and in front rows.

Tata Motors global sales up by 93 percent in January

KOLKATA – Auto major Tata Motors group global sales, comprising Tata, Tata Daewoo and Hispano Carrocera range of commercial vehicles, grew by 93 percent to 85,714 in January this year, a company statement said here Monday.

It also included Tata passenger vehicles along with distributed brands in India, and Jaguar and Land Rover.
Sales of all … Read more : Tata Motors global sales up by 93 percent in January.

Japan, Australia stocks drop after China tightens policy; many markets shut for Lunar New Year

Japan, Aussie markets drop after China tightens

TOKYO – Japanese and Australian markets fell Monday in thin regional trading as investors reacted to China’s move late Friday to curtail bank lending to cool off strong growth there.
Many Asian markets, including Hong Kong, Shanghai, Singapore and Seoul, closed for the Lunar New Year holiday. U.S. markets would … Read more >>>.

Nurseries, landscaping businesses suffer in stalled economy, experts expect a slow recovery

Nurseries struggle with lagging economy
PORTLAND, Ore. – Like his father, grandfather and great-grandfather, David Niklas feels the quickening of spring as the season ramps up at his wholesale nursery in a farming community south of Portland. Niklas and his workers busily package plants for shipment.

These days, his flowers and vegetable seedlings have fewer places to … Read more »».

Tears, tentative samba steps for Rio’s preteen Carnival queen

Tears, tentative steps for preteen samba queen

RIO DE JANEIRO – Julia Lira, Rio’s 7-year-old Carnival drum corps queen, didn’t like one bit of the cameras that honed in on her as she led a lavish samba parade, and reacted as any child might – by having a good cry.
But the sprite of a samba dancer … Read the original article on Gaea Times at : Tears, tentative samba steps for Rio’s preteen Carnival queen.

Recall-battered Toyota to look into electronics again, president trip still undecided

Toyota studies electronics again, trip undecided

TOKYO – Toyota has still not decided whether its president will appear before the U.S. Congress, the automaker said Monday, but it promised to again look into possible electronic problems with its vehicles.
Toyota Motor Corp. has been criticized as being slow in responding to the unfolding recall crisis, which has …. Source article on Gaea Times at  : Recall-battered Toyota to look into electronics again, president trip still undecided.

Vladimir Lisin named richest Russian with $18.8 bn

MOSCOW – Vladimir Lisin, the owner of the Russian steel giant Novolipetsk Steel, has been named Russia’s richest person with an estimated wealth of $18.8 billion by Russia’s Finans (Finance) business magazine.

Mikhail Prokhorov, the president of Onexim Group who topped last year’s rankings, was second in the 2010 list with an estimated wealth of $17.85 …. Original article on Gaea Times at  : Vladimir Lisin named richest Russian with $18.8 bn.

British couple wins $88 mn lottery

LONDON – A British couple have been declared winners of a 56 million (about $88 million) EuroMillions lottery, a media report said Monday.

The prize would make the couple, who are to be unveiled at a press conference Monday, among some of the wealthiest in the country, according to the Sunday Times Rich List 2009, Guardian … Read more »»».

Israeli archaeologists unearth exceptionally large Byzantine-era wine press

Israel discovers large ancient wine press
JERUSALEM – Israeli archaeologists said Monday that they’ve discovered an unusually shaped 1,400-year-old wine press that was exceptionally large and advanced for its time.

The octagonal press measures 21 feet by 54 feet (6.5 by 16.5 meters) and was discovered in southern Israel, about 40 kilometers south of both Jerusalem and … Read more : Israeli archaeologists unearth exceptionally large Byzantine-era wine press.

Report: China to make massive investment in NKorea in apparent effort to resume nuclear talks

Report: China to make massive investment in NKorea

SEOUL, South Korea – China plans to invest billions of dollars in North Korea in an apparent effort to prod the impoverished country to rejoin international nuclear disarmament talks, a news report said Monday.
The news came one week after North Korean leader Kim Jong Il told a visiting …. Source article  : Report: China to make massive investment in NKorea in apparent effort to resume nuclear talks.

India’s annual inflation rises to 8.56 percent in January

NEW DELHI – India’s annual rate of inflation, based on the wholesale prices index, rose to 8.56 percent in January from 7.31 percent in the previous month, driven by increasing food prices, official data released Monday showed.

The annual inflation rate was 4.95 percent in January 2009.
The latest data released by the commerce ministry … Read more : India’s annual inflation rises to 8.56 percent in January.

Avert starvation catastrophe, scientists tell world leaders

WASHINGTON – Scientists are urging world leaders to avert a major starvation catastrophe by the end of the century.

Specifically, they urged policymakers to begin thinking in dramatically different ways to meet food needs, in a significantly warmer world, regarding crops genetically modified to produce greater yields in harsher conditions.
Yields from some of the most … Read more »»».

Bharti starts 40-day talks to acquire Kuwait’s Zain

New Delhi, Feb 15 IANS) India’s largest private telecom services provider, the Sunil Mittal-controlled Bharti Airtel, Monday said it has started exclusive talks to acquire Kuwait’s Zain for $10.7 billion to get a foothold in the African market.

The takeover will not include Zain’s assets in Morocco and Sudan, the company said about the bid — … Read more : Bharti starts 40-day talks to acquire Kuwait’s Zain.

Sensex 54 points down in choppy trade

MUMBAI – A benchmark index for Indian equities was 54 points in the red after more than two hours of volatile trading Monday.

At 11.19 a.m., the 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,186.9 points, was at 16,099.3 points, down 53.29 points or 0.33 percent from its previous close. … Read more »»».

Fog disrupts rail, air traffic in Orissa

BHUBANESWAR – Dense fog enveloped coastal Orissa for several hours Monday morning, disrupting road, air and rail traffic, officials said.

Visibility was below 200 metres from 6 a.m. to 9.30 a.m. across the coastal belt, an official of the meteorological centre in Bhubaneswar said.
The runway visibility at the Biju Patnaik Airport here was poor and … Read more »».

Tuxedo touches, grandpa styling temper Rebecca Taylor’s girlish frocks

Rebecca Taylor tempers girly frocks with menswear

NEW YORK – Rebecca Taylor’s vision for fall 2010 means a healthy dose of masculinity.
The New Zealand native, whose feminine frocks and silky blouses have become a staple during New York Fashion Week, delivered a collection Sunday that tempered her girly look with touches of menswear.
The clothes, in navy, …. Source  : Tuxedo touches, grandpa styling temper Rebecca Taylor’s girlish frocks.

Custo Barcelona offers hairy, adventurous celebration of textures, patterns

Custo Barcelona offers adventurous ‘hairy metal’

NEW YORK – Custo Barcelona has gone hairy.
The loud, colorful Spanish label showed a collection Sunday inspired by “hairy metal.” It was a mishmash of shaggy fur and patterns delivered in extremes: ultra-short minis, leather hotpants, extra-shaggy fur and cropped jackets with knuckle-grazing sleeves.
The brand, which landed in the fashion … Read more : Custo Barcelona offers hairy, adventurous celebration of textures, patterns.

Platinum becoming popular in India, slowly but steadily

KOLKATA – Indians, known for their craving for gold, are now looking at platinum jewelleries with equal enthusiasm, opening market for the elegant and exquisite shining white metal slowly but steadily.

“For platinum, India is an established market, particularly the southern region, where Chennai and Bangalore are the two most important markets. There are around 300 [..] Read the original article: here.

1.6 million jobs go unfilled in Brazil in 2009

Sao Paulo, Feb 15 (IANS/EFE) Brazilian employers were unable to fill 1.6 million jobs in 2009 due to a lack of qualified workers, especially in the areas of engineering, nutrition and dietetics, the Sine public employment agency network said.

Low educational levels were identified as the principal factor in not filling these jobs in 2009, which …. Source  : Gaea News Network.

Preteen Carnival queen breaks down in tears at Rio’s Carnival

Preteen samba queen cries at Rio’s Carnival

RIO DE JANEIRO – She was cheered by legions of Carnival fans, but 7-year-old Julia Lira, the youngest drum corps queen in memory at Rio’s lavish party, broke down crying after being surrounded by cameras early Monday.
Dressed in a sequined halter top and a miniskirt made of purple feathers, … Read more : Preteen Carnival queen breaks down in tears at Rio’s Carnival.

Record crowd of 108,713 at Cowboys Stadium sees East beat West 141-139 in All-Star game

Record crowd sees East edge West in All-Star game

ARLINGTON, Texas – The largest crowd ever to watch a basketball game roared from all corners of Cowboys Stadium, and the two superstars on the court smiled widely.
Nope, not Dwyane Wade and LeBron James.
Try Jerry Jones and Mark Cuban.
They partnered to create a basketball spectacle that had …. Original source  : Record crowd of 108,713 at Cowboys Stadium sees East beat West 141-139 in All-Star game.

France’s Carrefour rules out Brazil exit, plans investment

Sao Paulo, Feb 15 (IANS/EFE) French supermarket chain Carrefour has no plans to leave Brazil and will make more investments in the South American country, said the company’s top executive in Brazil, Jean Marc Pueyo.

“Why would Carrefour put so much money into Brazil if it planned to sell? No, we are not going to sell. … Read more : France’s Carrefour rules out Brazil exit, plans investment.

Life insurance industry may grow 10 percent in 2010

CHENNAI – India’s life insurance industry is expected to grow by around 10 percent in 2010 over the previous year, mainly by improving efficiency but also by expanding in small towns and villages, industry experts say.

They also expect life insurers to rebalance their sales mix – unit linked insurance policies (ULIP) and non-ULIP.
“We …. Read the original article  : Life insurance industry may grow 10 percent in 2010.

Japan’s fourth quarter economic growth beats expectations

TOKYO – The Japanese economy grew faster than expected in the last three months of 2009, the government said in a preliminary report Monday.

The nation’s gross domestic product (GDP) grew an annualized 4.6 percent in the October-December quarter, bolstered by exports to Asia and a rise in domestic demand supported by government stimulus measures, the … Read : Japan’s fourth quarter economic growth beats expectations.

Not only bigger in Texas, the biggest: NBA All-Star game sets attendance record for basketball

All-Star game in Texas draws record crowd
ARLINGTON, Texas – Not only bigger in Texas. The biggest.

The NBA All-Star game at Cowboys Stadium set a record for the most-attended basketball game ever with a crowd of 108,713 people filling the stadium Sunday night.
“It’s meant to be a party,” Dallas Mavericks owner Mark Cuban said. “We say … Original article on : Not only bigger in Texas, the biggest: NBA All-Star game sets attendance record for basketball.

Betsey Johnson tours the Wild West with Kelly Osbourne as runway star

Kelly Osbourne takes to runway for Betsey Johnson

NEW YORK – Betsey Johnson took a tour through the Wild West on Sunday, showing off a newly model-slim Kelly Osbourne as her head bandito.
Some of the looks – inspired by saloon girls, vagabonds, gamblers and other ne’er-do-wells – will be available immediately in Betsey Johnson stores, a … Read more : Betsey Johnson tours the Wild West with Kelly Osbourne as runway star.

Japan 4Q GDP grows at 4.6 percent annual pace as exports bolster recovery

Japan 4Q GDP grows at 4.6 percent annual pace

TOKYO – Japan’s economy beat expectations in the fourth quarter, fueled by robust exports and a pickup in consumer demand at home.
The government said Monday that real gross domestic product grew at an annual pace of 4.6 percent in the October-December period. The average forecast of 15 … Original source on Gaea Times at : Japan 4Q GDP grows at 4.6 percent annual pace as exports bolster recovery.

Celine Dion says new documentary a ‘VIP’ pass for fans; talks about being an ‘open book’

Celine Dion says new movie a ‘VIP’ pass for fans

NEW YORK – Celine Dion’s new movie, “Celine: Through the Eyes of the World,” does more than highlight her performances during her last world tour; it also allows fans rare glimpses of her offstage life.
The documentary shows Dion as a goofy jokester, a doting mother, a … Read more : Celine Dion says new documentary a ‘VIP’ pass for fans; talks about being an ‘open book’.

Chappuis wins gold as US finally reaches podium with Spillane’s silver in Nordic combined

Americans break through Nordic combined barrier

WHISTLER, British Columbia – Gasping for air, American Johnny Spillane was gliding toward the finish line, cowbells clanking in his ears, the stars and stripes shimmering in the stands, a gold medal and greatness both within his grasp.
Just a stride and ahalf away from being crowned an Olympic champion, out … Read : Chappuis wins gold as US finally reaches podium with Spillane’s silver in Nordic combined.

Summary Box: Chrysler dealers see hard months waiting for new, updated models to hit showrooms

Summary Box: Chrysler dealers face tough 5 months

THE PROBLEM: Chrysler Group LLC dealers face a tough five months with no new cars and trucks coming from the company until at least June.
THE WORRY: Although dealers say they are optimistic about a partnership with Italy’s Fiat Group SpA, many worry about their finances because current models … Read this article on Gaea Times at : Summary Box: Chrysler dealers see hard months waiting for new, updated models to hit showrooms.

Preteen Carnival queen shakes up 1st night of Rio’s samba parades

Preteen samba queen to parade at Rio’s Carnival

RIO DE JANEIRO – Thousands of boisterous samba fans came together to watch the first night of Rio’s Carnival parades Sunday, and all eyes are on a 7-year-old girl who is the youngest drum corps queen in memory.
Julia Lira, her toothy grin and quick footsteps splashed across media … Read more »»».

Spiraling insurance is only about a small group of consumers _ until you don’t have coverage

A rate hike for the few _ until it’s you
To critics, a 39 percent hike in health insurance for some Californians foretells skyrocketing rates for the rest of us. Not so, says the company, arguing the increase only hits a relatively small number of people and the economy is to blame.
But …. Source  : Gaea News Network.

Believing the league owes them, Russian stars want NHL shutdown for Sochi Olympics _ or else

Russia stars want NHL shutdown for Sochi in 2014

VANCOUVER, British Columbia – As players began streaming into Vancouver on Sunday for perhaps the most anticipated tournament of the four Olympics featuring the NHL’s big names, one of hockey’s most influential groups already is looking toward the 2014 Games in Sochi, Russia.
The message being delivered by …. Original article  : Believing the league owes them, Russian stars want NHL shutdown for Sochi Olympics _ or else.

Menswear look is hot for women in previews of fall styles at NY Fashion Week

At NY Fashion Week, girls will be boys
NEW YORK – Fashionable women would do well to raid their boyfriends’ closets come fall, judging from the looks shown Sunday at New York Fashion Week.

Menswear influences were everywhere during the week of previews, from the trendsetting runway of Alexander Wang to the typically ultra-feminine Victoria Beckham, who … Read the original article on Gaea Times at : Menswear look is hot for women in previews of fall styles at NY Fashion Week.

AP Interview: Ski federation president says men’s downhill delay OK from European standpoint

Ski federation president not in panic mode yet

WHISTLER, British Columbia – The International Ski Federation isn’t ready to panic over the Whistler weather woes.
Actually, FIS president Gian-Franco Kasper told The Associated Press that European broadcasters are pleased the men’s downhill was shifted from Saturday to Monday.
The race is now slated for 10:30 a.m. PST, which …. Source article on Gaea Times at  : AP Interview: Ski federation president says men’s downhill delay OK from European standpoint.

UAE to host 12th global businesswomen summit

DUBAI – The United Arab Emirates (UAE) will host the 12th Woibex Global Businesswomen and Leaders Summit here March 8 to coincide with 100 years of International Women’s Day, WAM news agency reported.

The Women Farmers Advancement Network (WOFAN) will organise the conference in partnership with Datamatix, an IT company, at the Burj Al Arab Hotel …. Source article  : UAE to host 12th global businesswomen summit.

Victoria Beckham hosts fashion insiders for a classy moment at Fashion Week

Victoria Beckham: Posh, classy and elegant styles

NEW YORK – From the personal greeting she gave to each of her two dozen guests to the thoughtful answers to questions about the construction of her designs, Victoria Beckham staged an intimate preview of her fall collection at New York Fashion Week Sunday that was all class and … Original source on Gaea Times at : Victoria Beckham hosts fashion insiders for a classy moment at Fashion Week.

Greece’s debt crisis, China’s bank curbs: What other surprises might rattle the market?

Investors brace for the next overseas surprise

CHARLOTTE, N.C. – Investors may wish they had a crystal ball.
Stocks have been in flux over the past few weeks as surprises kept coming from overseas. Greece’s debt crisis, similar troubles in Portugal, and China’s latest moves to slow down its economy have kept investors guessing.
At least the news …. Original source  : Greece’s debt crisis, China’s bank curbs: What other surprises might rattle the market?.

Short and furious, gunfight with Taliban shows challenges of fighting the Afghan insurgency

Caught in the open: a firefight with the Taliban

BADULA QULP, Afghanistan – “Medic!” Bullets cracked through the dry grass. “Medic!”
“Who’s hit?” someone yelled. The American soldiers were pinned down in a ditch Sunday, bodies prone in the mud.
“I don’t know!” another voice shouted in the din of gunfire.
A U.S. soldier was down, shot in the …. Source article on Gaea Times at  : Short and furious, gunfight with Taliban shows challenges of fighting the Afghan insurgency.

Chrysler dealers optimistic, yet worried, after meeting with new management team at convention

Chrysler dealers upbeat, worried after meeting

ORLANDO, Fla. – As he walked out of an auditorium Sunday afternoon, Grant Irwin Sr. pretty much summed up the feelings of Chrysler dealers who had just spent two hours listening the automaker’s new management.
The 73-year-old dealer from Northwest Oklahoma said he’s impressed by the executives installed by Fiat and … Read : Chrysler dealers optimistic, yet worried, after meeting with new management team at convention.

Diplomats says Briton detained in Gaza; Hamas says journalist suspected of breaking the law

British man detained in Gaza
GAZA CITY, Gaza Strip – Hamas security forces arrested a British man in Gaza on Sunday, British and Hamas officials said.

Hamas police spokesman Ehab Ghussein identified the man as a journalist and said he was suspected of breaking the law, but did not elaborate. The man’s name was not released.
The British … Read this article on Gaea Times at : Diplomats says Briton detained in Gaza; Hamas says journalist suspected of breaking the law.

Obama to drop in on jobs training center, speak about creating energy jobs

Obama to visit jobs training center
WASHINGTON – President Barack Obama travels into the Maryland suburbs outside Washington this morning to tour a jobs training center.
The center is located at an International Brotherhood of Electrical Workers’ local in Lanham, Maryland. Afterward, Obama will talk about new investments by the administration to create energy jobs, … Original article on : Obama to drop in on jobs training center, speak about creating energy jobs.

Iran strikes back against Clinton’s military dictatorship comments

Iran rejects US military dictatorship comments

TEHRAN, Iran – Iran has hit back against U.S. Secretary of State Hillary Rodham Clinton’s warning that the Islamic republic is becoming a military dictatorship.
Iran’s Foreign Minister Manouchehr Mottaki instead has tried to turn the tables, referring to the Americans as the architects of the Vietnam War and calling them … Read : Iran strikes back against Clinton’s military dictatorship comments.

Greek customs officials begin 3-day strike to protest government austerity measures

Greek customs officials begin 3-day strike

ATHENS, Greece – Greek customs officials walked off the job Tuesday for a three-day strike to protest government austerity measures designed to pull the country out of a debt crisis that has shaken the entire eurozone.
The strike, which will hamper imports and exports until Thursday, came a day after European …. Source article  : Greek customs officials begin 3-day strike to protest government austerity measures.

Economic woes, anger at banks prompt fresh look at socialist solution: Bank of North Dakota

Economy prompts fresh look at ND’s socialist bank

BISMARCK, N.D. – It has no automatic tellers or drive-up windows, doesn’t issue credit cards, and tends only a few thousand checking and savings accounts. Its only location is a glass, steamboat-shaped headquarters near the Missouri River, where the business moved from its original 1919 home in a …. Read the original article  : Economic woes, anger at banks prompt fresh look at socialist solution: Bank of North Dakota.

Malaysian PM’s India visit drew $468 mn worth of potential deals

KUALA LUMPUR – Malaysia and India are set to follow up on the $468 million worth of potential trade avenues identified during last month’s India visit of Prime Minister Najib Tun Razak, with the next round of negotiations here March 28-30.

These investments, if realised, will give the Malaysian economy a strong boost, said Mustapa Mohamed, … Original article on : Malaysian PM’s India visit drew $468 mn worth of potential deals.

Larsen and Toubro teams up with Raytheon to upgrade T-72 tanks

MUMBAI – Engineering major Larsen and Toubro (L&T) Tuesday announced it had submitted a joint proposal with US defence technology firm Raytheon for upgrading India’s T-72 tanks.

According to the proposal submitted earlier this month, in which L&T is the lead contractor, Raytheon will provide infrared imaging sights and electronics to improve the tank’s target accuracy …. Source article on Gaea Times at  : Larsen and Toubro teams up with Raytheon to upgrade T-72 tanks.

Jayalalithaa refutes Karunanidhi’s charges on cane pricing

CHENNAI – AIADMK general secretary J. Jayalalithaa Tuesday refuted Tamil Nadu Chief Minister M. Karunanidhi’s charge that her government kept sugarcane prices payable to farmers unaltered till 2004 and only allowed a hike a year later with an eye to assembly elections.

The former chief minister said the South India Sugar Mills Association had filed a …. Original article  : Jayalalithaa refutes Karunanidhi’s charges on cane pricing.

Hamas flooded with police applicants, but most just looking for work

Most Hamas police applicants only want jobs

GAZA CITY, Gaza Strip – Take this for a measure of Gaza’s economic woes: When the territory’s Hamas rulers announced plans to hire about 1,000 new policemen, 15,000 applied.
Only a few of those reporting for fitness tests one recent afternoon expressed an interest in police work or said they …. Original article on Gaea Times at  : Hamas flooded with police applicants, but most just looking for work.

Barclays 4th quarter profit 8 times larger than year-ago due to asset management unit sale

Barclays Q4 profit soars eight-fold on unit sale

LONDON – Barclays PLC on Tuesday reported a fourth quarter profit of 6.9 billion pounds ($10.8 billion), more than eight times larger than a year earlier, due to gains on the sale of its Global Investors unit to a private equity company.
The result compared to a net profit …. Source article on Gaea Times at  : Barclays 4th quarter profit 8 times larger than year-ago due to asset management unit sale.

Bharti scrip sinks 3.19 percent in afternoon trade

MUMBAI – Telecom operator Bharti Airtel’s scrip fell 3.19 percent during afternoon trade Tuesday, after plummeting over 9 percent the previous day as investors continued to speculate on the burden a $10.7 billion acquisition it has planned.

At the Bombay Stock Exchange, the Bharti scrip was trading at Rs.276.30, a fall of 3.19 percent from its …. Source  : Gaea News Network.

Post 26/11, India turns to Russia for small weapons

NEW DELHI – India, which has been procuring fighter aircraft and missiles worth $1.5 billion annually from Russia, is now looking to buy small weapons too – like assault rifles, sniper guns and automatic grenade launchers – for its paramilitary forces, especially after the 26/11 Mumbai terror attack.

So far, India has largely depended on Israel …. Original source  : Post 26/11, India turns to Russia for small weapons.

Sensex moves up 93 points by early afternoon

MUMBAI – A benchmark index for Indian equities was 93 points higher than its last close by early afternoon Tuesday, after a listless morning session.

At 12.43 p.m., the 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,042.18 points, was at 16,131.53 points, up 93.18 points or 0.58 percent from …. Original article on Gaea Times at  : Sensex moves up 93 points by early afternoon.

At job training center, Obama to announce loan guarantee to build 1st nuclear plant in decades

Obama to announce loan guarantee for nuclear plant
WASHINGTON – President Barack Obama is highlighting a new investment in energy jobs with an announcement that the government will guarantee more than $8 billion in loans needed to build the first U.S. nuclear power plant in nearly three decades.
Obama was to make remarks Tuesday after … Read the original article on Gaea Times at : At job training center, Obama to announce loan guarantee to build 1st nuclear plant in decades.

Bureaucrats will not rate ministers, says PMO

NEW DELHI – The Prime Minister’s Office (PMO) Tuesday denied that the performance of ministers would be judged by bureaucrats.

“It is not factually correct to say that serving officers will evaluate the performance of the ministers,” the PMO said in a statement. “The Prime Minister’s order is clear that the entire process has to be … Original article on : Bureaucrats will not rate ministers, says PMO.

Toyota: President set to answer more questions on global recalls, quality control efforts

Beleaguered Toyota president to answer questions

TOKYO – Toyota announced its president will answer more questions on the beleaguered company’s massive global recall at a press conference Wednesday after being lambasted for being largely invisible during the crisis.
Toyota Motor Corp. President Akio Toyoda – who may appear before U.S. Congressional hearings later this month – will [..] Read the original article: here.

Maoists stop work at another Indian venture in Nepal

KATHMANDU – As Nepal’s first President Ram Baran Yadav began his maiden state visit to India to cement ties with the neighbouring country, the country’s former Maoist guerrillas have prevented work at a hydropower project in western Nepal with major Indian investment.

Survey at the 250 MW Upper Marsyangdi hydropower project in Lamjung district came to … Read more »».

Chhattisgarh budget to focus on social, farm sectors

RAIPUR – The Chhattisgarh government will table the annual budget in the state assembly next week with special focus on social and agriculture sectors, an official said Tuesday.

“The cabinet has approved the state budget for fiscal year 2010-11 to be tabled in the state assembly Feb 22. The focus will be on social and agriculture … Original article on : Chhattisgarh budget to focus on social, farm sectors.

Tourism industry disillusioned with Taj festival

AGRA – The tourism industry in this city of the Taj Mahal feels the annual cultural festival Taj Mahotsava has now degenerated into a farce pandering to the basest instincts of the local audience, instead of the tourist-atracting spring fest it was meant to be.

The 10-day festival that will start Thursday at Shilpgram, just 500 … Read the original article on Gaea Times at : Tourism industry disillusioned with Taj festival.

Mobile phones to top 5 billion this year

NEW YORK – Global demand for mobile telephones remains strong, despite the economic crisis, with the number of individual mobile cellular subscriptions likely to top 5 billion this year, according to the UN telecom agency.

Advanced services and handsets in affluent countries and increased take-up of mobile banking and mobile health-care services in poorer nations is … Read the original article on Gaea Times at : Mobile phones to top 5 billion this year.

Asian markets higher in holiday-thinned trade but Greece worries not far from surface

Asian markets higher in holiday-thinned trade

BANGKOK – Asian stocks were modestly higher Tuesday in holiday-thinned trade as investors awaited another top level finance meeting on Greece’s debt crisis. European shares jumped.
Markets in Shanghai, Hong Kong, Taiwan, Singapore and Malaysia were closed for Lunar New Year holidays. Wall Street was closed Monday for the Presidents Day …. Source  : Asian markets higher in holiday-thinned trade but Greece worries not far from surface.

Love to be food of music at Taj festival

AGRA – Love will be the theme of the Taj Mahotsava that opens here Thursday just 500 metres from that eternal monument to love, the Taj Mahal.

The theme song that will open the 10-day annual cultural extravaganza this year in the Shilpgram campus highlights the love that pervades through the Bhakti movement, the legend of … Original source on Gaea Times at : Love to be food of music at Taj festival.

Sensex choppy in early trade

MUMBAI – A benchmark index for Indian equities opened on a volatile note Tuesday. About 10 minutes into trade, it was 36 points higher than its previous close.

At 9.10 a.m., the 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,042.18 points, was at 16,074.85 points, up 36.5 points or 0.23 …. Original article on Gaea Times at  : Sensex choppy in early trade.

NH hotel to reopen day after boiler room gas leak sickened 11, including 9 guests by the pool

NH hotel to reopen day after gas leak sickened 11

PORTSMOUTH, N.H. – A New Hampshire hotel that was closed after a toxic-gas leak sickened 11 people so badly they had to be hospitalized says it will reopen Tuesday.
The problem at the Hilton Garden Inn in downtown Portsmouth on Monday morning was traced to a leaking … Read the original article on Gaea Times at : NH hotel to reopen day after boiler room gas leak sickened 11, including 9 guests by the pool.

Marc Jacobs ushers in lady-like looks while others at NY Fashion Week go for gold

Big reveal: Marc Jacobs shifts Fashion Week tone

NEW YORK – With one move, Marc Jacobs changed the look and tone of New York Fashion Week. The designer, touted as the most influential in the U.S., ripped brown-paper wrapping off the box-within-a-box construction of his runway Monday night to reveal dozens of models in the most … Read this article on Gaea Times at : Marc Jacobs ushers in lady-like looks while others at NY Fashion Week go for gold.

UAE, Britain seek to boost trade ties

ABU DHABI – A British business delegation is in the United Arab Emirates (UAE) to discuss ways to boost bilateral trade relations, WAM news agency reported.

Lord Peter Mandelson, Britain’s business, innovation and skills secretary, is leading his country’s delegation.
Foreign Trade Minister Sheikha Lubna Bint Khalid Al Qasimi opened the meeting of the UAE and … Read the original article on Gaea Times at : UAE, Britain seek to boost trade ties.

Summary Box: Toyota may extend warranties and offer other incentives after recalls

Summary Box: Toyota’s plans to soothe customers

THE DEALERS: About 300 Toyota dealers at a Florida convention heard executives say they are considering longer warranties and other incentives to draw customers after a spate of recalls.
THE REPAIRS: Toyota says it has repaired 500,000 of the 2.3 million vehicles recalled for sticky gas pedals.
WHAT’S NEXT: As repairs … Read more : Summary Box: Toyota may extend warranties and offer other incentives after recalls.

Obama’s bank reforms are not right for us: EU ministers

BRUSSELS – The medicine recommended by US President Barack Obama to cut Wall Street down to size is not suitable for the European Union EU), the bloc’s finance ministers are expected to say in a report set for approval Tuesday.

The White House has endorsed Jan 21 former Federal Reserve chairman Paul Volcker’s proposals to … Read this article on Gaea Times at : Obama’s bank reforms are not right for us: EU ministers.

Nebraska gives Bo Pelini a pay raise to $2.1M and extends contract through 2014 season

Nebraska gives Bo Pelini a pay raise to $2.1M

LINCOLN, Neb. – Nebraska has added a year to the contract of head coach Bo Pelini and raised his base pay to $2.1 million per year.
The deal keeps Pelini at the Huskers’ helm through Feb. 28, 2015. It provides a retention bonus as well: $500,000 if he’s … Read more »»».

Obama to discuss jobs, economy on visit to Savannah, Ga., on March 2

Obama to discuss jobs on Georgia visit March 2
WASHINGTON – President Barack Obama will talk about jobs and the economy when he travels to Savannah, Ga., on March 2.
The president will meet with workers, small-business owners and local leaders to discuss ideas for creating jobs and growing the economy. It will be the …. Source article  : Obama to discuss jobs, economy on visit to Savannah, Ga., on March 2.

Eurozone finance ministers tell Greece to get ready to cut spending, launch new taxes

Eurozone tells Greece to ready new cuts, taxes

BRUSSELS – European finance ministers bluntly told Greece to prepare tougher spending cuts and new taxes in an attempt to snuff out a government debt crisis that has shaken the entire eurozone.
The 16 countries that use the euro warned Greece on Monday that it will need to take …. Read the original article  : Eurozone finance ministers tell Greece to get ready to cut spending, launch new taxes.

Bayh leaves Senate blaming partisanship, but against backdrop of angry, frustrated public

Bayh exits Senate against backdrop of angry voters
WASHINGTON – The stunning announcement by centrist Indiana Democratic Sen. Evan Bayh that he’s retiring from a Congress he no longer loves adds yet another name to a list of lawmakers fleeing a town they say has become acidly partisan. And it gives Republicans a … Read more : Bayh leaves Senate blaming partisanship, but against backdrop of angry, frustrated public.

Privately-owned drug tester Quintiles expands investment in pharmaceutical development

Private drug tester expands stake in Big Pharma

RALEIGH, N.C. – Pharmaceutical companies previously did all their own research and testing and submitted the results to the Food and Drug Administration for approval to put a medication on the market. The agency’s review was devised to settle concerns about the drug makers’ vested interest in showing … Original source on Gaea Times at : Privately-owned drug tester Quintiles expands investment in pharmaceutical development.

Going for the gold: No, not Olympics, NY Fashion Week

Fashion Week goes for gold, silver and bronze

NEW YORK – A little gold goes a long way. Same goes for silver and bronze.
No, this isn’t an Olympic event – it’s New York Fashion Week, where metallic fabrics shone on the runways.
“A little sparkle adds a lot to your wardrobe,” Tracy Reese said backstage before her …. Source article on Gaea Times at  : Going for the gold: No, not Olympics, NY Fashion Week.

Outfielder Cody Ross and Florida Marlins go to salary arbitration hearing

Cody Ross and Marlins go to salary arbitration

ST. PETERSBURG, Fla. – Florida Marlins outfielder Cody Ross has gone to salary arbitration, asking for $4.45 million rather than the team’s offer of $4.2 million.
Arbitrators James Oldham, Margaret Brogan and Howard Edelman are expected to issue a decision Tuesday, a day after hearing arguments.
Ross hit .290 with … Read the original article on Gaea Times at : Outfielder Cody Ross and Florida Marlins go to salary arbitration hearing.

Making laws the easy way: Groups offer templates so state legislators can fill in the blanks

Legislation templates make proposing bills easy

NASHVILLE, Tenn. – For state legislators across the country, sponsoring bills can be as easy as filling in the blanks.
Groups from both ends of the political spectrum offer lawmakers model legislation requiring a minimal amount of tailoring from state to state. The nonpartisan Council of State Governments even issues an … Read more >>>.

Democratic Sen. Evan Bayh of Indiana says he won’t seek a third term in Congress

Dem. Sen. Evan Bayh says he won’t seek 3rd term
INDIANAPOLIS – Democratic Sen. Evan Bayh says he will not run for a third term in Congress.
Bayh said at a news conference in Indianapolis on Monday that he believed he would have been re-elected despite “the current challenging environment” in Congress.
He attributed his decision …. Original article  : Democratic Sen. Evan Bayh of Indiana says he won’t seek a third term in Congress.

Toyota considering longer warranties, incentives for buyers as it tries to get past recalls

Toyota may lengthen warranties to keep customers

ORLANDO, Fla. – Toyota Motor Corp. may offer incentives or increase the length of its warranties as it tries to recover from an embarrassing string of safety-related recalls.
The company has not decided exactly what it will do after it gets past the recalls, which include more than 8 million … Read this article on Gaea Times at : Toyota considering longer warranties, incentives for buyers as it tries to get past recalls.

Clinton: Iran becoming a military dictatorship with the Guard Corps supplanting government

Clinton: Iran is becoming a military dictatorship

RIYADH, Saudi Arabia – U.S. Secretary of State Hillary Rodham Clinton said Monday Iran is sliding into a military dictatorship, a new assessment suggesting a rockier road ahead for U.S.-led efforts to stop Tehran from obtaining a nuclear weapon.
As the first high-level Obama administration official to make such an … Read the original article on Gaea Times at : Clinton: Iran becoming a military dictatorship with the Guard Corps supplanting government.

Camel stuck on rail tracks disrupts Mumbai-Ahmedabad services

MUMBAI – A stray camel which got stuck on the railway tracks near the Maharashtra-Gujarat border Monday evening caused a major disruption in train traffic on the Mumbai-Ahmedabd sector of Western Railway, an official said.

The camel got stuck on the railway bridge tracks between Boisar-Palghar, around 100 km north of Mumbai, at 7.30 p.m., said …. Original source  : Camel stuck on rail tracks disrupts Mumbai-Ahmedabad services.

Israel’s prime minister presses for severe Iran sanction in meeting with Medvedev

Israeli PM pushes for Iran sanctions in Moscow

MOSCOW – Israeli Prime Minister Benjamin Netanyahu said Monday he pressed for “severe sanctions” against Iran over its nuclear program in his meeting with Russian President Dmitry Medvedev, and he praised the Russian leader for showing “an understanding” over the issue.
The meeting came just days after Iran announced …. Source article on Gaea Times at  : Israel’s prime minister presses for severe Iran sanction in meeting with Medvedev.

Oil extends gains above $77 in Asia after surging on signs US economy improving

Oil above $77 amid improving US economy
SINGAPORE – Oil prices extended gains above $77 a barrel Wednesday in Asia after surging the previous day amid expectations a growing U.S. economy will fuel increased crude demand.

Benchmark crude for March delivery was up 50 cents at $77.51 a barrel at late afternoon Singapore time in electronic trading …. Original source  : Oil extends gains above $77 in Asia after surging on signs US economy improving.

World markets higher on growing investor confidence in US economy, Greece debt crisis easing

World markets higher on signs US economy improving

SINGAPORE – World stocks gained Wednesday on renewed investor confidence in the U.S. economy while concerns about Greece’s debt crisis eased.
Most major European and Asian equity markets rose, bolstered by a 1.7 percent jump in the Dow Jones industrial average Tuesday. Markets in China and Taiwan were closed … Read : World markets higher on growing investor confidence in US economy, Greece debt crisis easing.

AP Top News at 4:48 a.m. EST

AP Top News at 4:48 a.m. EST
Afghan official: Taliban using human shields
MARJAH, Afghanistan – Taliban fighters are increasingly using civilians as human shields in the assault on the southern town of Marjah, an Afghan official said Wednesday as military squads resumed painstaking house-to-house searches in the Taliban stronghold. About 15,000 NATO and Afghan troops are …. Source  : AP Top News at 4:48 a.m. EST.

Toyota to install brake override system in new models

TOKYO – Toyota Motor Corp president Akio Toyoda announced Wednesday that the automaker would install a brake-override system in all new vehicles to rebuild trust after a string of global recalls in recent months.

When a driver steps on both the accelerator and brake pedals, the system is to let the brake function to kick in …. Source article  : Toyota to install brake override system in new models.

Liquidity Adjustment Facility : Auction Results

The results of the RBI Repo/Reverse Repo auctions held on February 17, 2010 are:

Amount  (face value in Rs. crore)                  

Item

1 day Reverse Repo Auction (Sale of securities by RBI)

1 day Repo Auction 
… Read this article on Gaea Times at : Liquidity Adjustment Facility : Auction Results.

AP Top News at 4:36 a.m. EST

AP Top News at 4:36 a.m. EST
Afghan official: Taliban using human shields
MARJAH, Afghanistan – Taliban fighters are increasingly using civilians as human shields in the assault on the southern town of Marjah, an Afghan official said Wednesday as military squads resumed painstaking house-to-house searches in the Taliban stronghold. About 15,000 NATO and Afghan troops are …. Source article on Gaea Times at  : AP Top News at 4:36 a.m. EST.

AP Top News at 4:35 a.m. EST

AP Top News at 4:35 a.m. EST
Afghan official: Taliban using human shields
MARJAH, Afghanistan – Taliban fighters are increasingly using civilians as human shields in the assault on the southern town of Marjah, an Afghan official said Wednesday as military squads resumed painstaking house-to-house searches in the Taliban stronghold. About 15,000 NATO and Afghan troops are … Read more >>.

AP Top News at 4:27 a.m. EST

AP Top News at 4:27 a.m. EST
Afghan official: Taliban using human shields
MARJAH, Afghanistan – Taliban fighters are increasingly using civilians as human shields in the assault on the southern town of Marjah, an Afghan official said Wednesday as military squads resumed painstaking house-to-house searches in the Taliban stronghold. About 15,000 NATO and Afghan troops are …. Read the original article  : here.

RBI Reference Rate for US $ and Euro

The Reserve Bank of India’s Reference Rate for the US dollar is Rs.46.02 and the Reference Rate for Euro is Rs.63.36 on February 17, 2010. The corresponding rates for the previous day (February 16, 2010) were Rs.46.18 and Rs.62.98 respectively. Based on the Reference Rate for US dollar and … Read : RBI Reference Rate for US $ and Euro.

India, EU free trade pact by end 2010: Envoy

CHENNAI – A far-reaching free trade agreement will be “ready to be signed” between India and the European Union by the end of this year even as child labour and intellectual property rights regime in this country remain sore points, EU ambassador here Daniele Smadja has said.

“Our mandate is to complete the negotiations for the …. Original article  : India, EU free trade pact by end 2010: Envoy.

AP Top News at 4:07 a.m. EST

AP Top News at 4:07 a.m. EST
Afghan official: Taliban using human shields
MARJAH, Afghanistan – Taliban fighters are increasingly using civilians as human shields in the assault on the southern town of Marjah, an Afghan official said Wednesday as military squads resumed painstaking house-to-house searches in the Taliban stronghold. About 15,000 NATO and Afghan troops are …. Original article  : AP Top News at 4:07 a.m. EST.

After juices, DRDO turns to bio-diesel

NEW DELHI – After winning appreciation for its products like juices, ready-to-eat food and mosquito repellents, India’s Defence Research and Development Organisation (DRDO) has taken up a project to produce bio-diesel from Jatropha plants.

“Five-six DRDO labs are working together to produce bio-diesel from Jatropha plants. The project started one year ago and has a deadline … Read more : After juices, DRDO turns to bio-diesel.

Revelations show King Tut was weak, sickly, but experts say it won’t tarnish boy-king’s image

Tut’s ills won’t kill fascination, historians say

CHICAGO – It turns out Egypt’s beloved boy-king wasn’t so golden after all – or much of a wild and crazy guy, for that matter.
But will research showing King Tut was actually a hobbled, weak teen with a cleft palate and club foot kill enthusiasm for a mummy that …. Source article  : Revelations show King Tut was weak, sickly, but experts say it won’t tarnish boy-king’s image.

AP Top News at 3:56 a.m. EST

AP Top News at 3:56 a.m. EST
Afghan official: Taliban using human shields
MARJAH, Afghanistan – Taliban fighters are increasingly using civilians as human shields in the assault on the southern town of Marjah, an Afghan official said Wednesday as military squads resumed painstaking house-to-house searches in the Taliban stronghold. About 15,000 NATO and Afghan troops are …. Original source  : AP Top News at 3:56 a.m. EST.

New criteria to identify BPL families soon: Minister

AGARTALA – The central government will soon announce new criteria for identifying Below Poverty Line (BPL) families, V. Narayanasamy, minister of state for planning and parliamentary affairs, said here Wednesday.

To formulate guidelines to identify BPL families across the country, the union government had constituted an expert group headed by renowned economist Suresh D. Tendulkar.
“The … Read the original article on Gaea Times at : New criteria to identify BPL families soon: Minister.

Toyota president won’t attend Congress hearing on safety lapses, promises brake-override

Toyota president won’t attend Congress hearing

TOKYO – Toyota’s president says he won’t attend a U.S. Congressional hearing on the automaker’s safety lapses.
Toyota’s U.S. executives will answer lawmakers’ questions on the massive gas pedal recalls, Akio Toyoda said Wednesday.
The Toyota Motor Corp. president said he wants to focus on beefing up quality controls at the world’s …. Original source  : Toyota president won’t attend Congress hearing on safety lapses, promises brake-override.

AP Top News at 3:38 a.m. EST

AP Top News at 3:38 a.m. EST
Afghan official: Taliban using human shields
MARJAH, Afghanistan – Taliban fighters are increasingly using civilians as human shields in the assault on the southern town of Marjah, an Afghan official said Wednesday as military squads resumed painstaking house-to-house searches in the Taliban stronghold. About 15,000 NATO and Afghan troops are … Read more »».

BNP Paribas posts fourth straight quarterly profit, but earnings still below pre-crisis level

BNP Paribas posts fourth straight quarterly profit
PARIS – French bank BNP Paribas posted its fourth straight quarterly profit on Wednesday but said earnings are still below pre-crisis levels.
The eurozone’s largest banking group said it earned a net profit of ???1.37 billion ($1.87 billion) having lost an identical amount a year earlier. Profits increased … Read more : BNP Paribas posts fourth straight quarterly profit, but earnings still below pre-crisis level.

AP Top News at 3:35 a.m. EST

AP Top News at 3:35 a.m. EST
Afghan official: Taliban using human shields
MARJAH, Afghanistan – Taliban fighters are increasingly using civilians as human shields in the assault on the southern town of Marjah, an Afghan official said Wednesday as military squads resumed painstaking house-to-house searches in the Taliban stronghold. About 15,000 NATO and Afghan troops are … Read more >>>.

DRDO offers weapons, UAVs to police to fight extremists

NEW DELHI – India’s Defence Research and Development Organisation (DRDO) that has hitherto been catering to the demands of the armed forces, is now offering unmanned aerial vehicles (UAVs) and other weapons and equipment to the paramilitary forces and the state police forces for their operations against the Maoists and other extremists.

“We have told the …. Source  : DRDO offers weapons, UAVs to police to fight extremists.

Palintest launches handheld digital chlorine tester for potable water

MUMBAI – Palintest Ltd., one of the world’s leading companies in water quality analysis, has launched a new digital Chlorometer for fast, accurate and easy chlorine level measurement.

The new product uses the tried and tested DPD standard method in conjunction with a photometric analyser to give near-instant results. This method produces highly accurate results and … Read more »»».

AP Top News at 3:13 a.m. EST

AP Top News at 3:13 a.m. EST
Afghan official: Taliban using human shields
MARJAH, Afghanistan – Taliban fighters are increasingly using civilians as human shields in the assault on the southern town of Marjah, an Afghan official said Wednesday as military squads resumed painstaking house-to-house searches in the Taliban stronghold. About 15,000 NATO and Afghan troops are …. Source article  : AP Top News at 3:13 a.m. EST.

10 struggling Maine dairy farmers unite to put new organic product, MOOMilk, in supermarkets

Maine dairy farmers put new organic milk on market

PORTLAND, Maine – Maine dairy farmers hope their new organic milk, called MOOMilk, becomes as popular among natural-food buffs as Maine lobster is among seafood lovers.
Ten dairy farmers formed Maine’s Own Organic Milk Co., MOOMilk for short, last year after their contracts weren’t renewed by large milk …. Original article on Gaea Times at  : 10 struggling Maine dairy farmers unite to put new organic product, MOOMilk, in supermarkets.

New sub-machinegun can pierce bullet-proof jackets: DRDO

NEW DELHI – India’s Defence Research and Development Organization (DRDO) says it has developed a modern sub-machinegun (SMG) that will be extremely useful in anti-terror operations as its ammunition is capable of piercing bullet-proof jackets.

The SMG is 100 percent indigenous and specially designed to fight against militants in close combat. Its ammunition can pierce through …. Read the original article  : here.

Now, drinking permits at Ahmedabad airport

AHMEDABAD – Visitors to Gujarat, India’s only state where sale and consumption of alcohol is banned, can now obtain permits to buy liquor at the domestic airport.

In a state where sale and consumption of liquor is banned, the authorities are making things easier for tourists.
The liquor permit entitles a person to buy liquor … Read : Now, drinking permits at Ahmedabad airport.

Merck: Studies show Gardasil vaccine protects older women, gay men from genital cancers, warts

Merck: Studies boost Gardasil for new uses

TRENTON, N.J. – The Gardasil vaccine protected most young women from cervical cancer and homosexual men from anal cancer, according to new studies released Wednesday by its maker, Merck & Co.
The vaccine is designed to block four of the most common strains of the sexually transmitted human papilloma virus, … Read the original article on Gaea Times at : Merck: Studies show Gardasil vaccine protects older women, gay men from genital cancers, warts.

Hyderabad airport adjudged amongst top five in world

LONDON – The Hyderabad international airport has been named amongst the world’s top five in the annual Airport Service Quality (ASQ) passenger survey along with the ones at Seoul, Singapore, Hong Kong and Beijing.

The survey, conducted by Airports Council International (ACI), an autonomous body representing world airports, adjudged the airport in the Andhra Pradesh …. Original source  : Hyderabad airport adjudged amongst top five in world.

Inflation rate to be moderate in next 2 months: Mukherjee

NEW DELHI – Measures taken by the government to tame inflation will take some time to have their effect but the country would have a “moderate rate of inflation” in the next two months, Finance Minister Pranab Mukherjee said Wednesday.

High inflation is a matter of concern. Measures taken to tame inflation will take some time. …. Source article  : Inflation rate to be moderate in next 2 months: Mukherjee.

India drafting new regime to auction hydrocarbon assets: Secretary (Interview)

NEW DELHI – India is working on a new policy to auction hydrocarbon assets for exploring oil and gas reserves on a perpetual basis, with a database being drawn up of all the country’s potential reserves, Petroleum Secretary S. Sundaresan has said.

“The Directorate General of Hydrocarbons is working on what is called a national data …. Source  : Gaea News Network.

Global crisis to drag 21 million Asians into poverty

MANILA – The global financial crisis could drag 21 million people of the Asia-Pacific region into extreme poverty, a UN and Asian Development Bank report said Wednesday.

The report, entitled “Achieving the Millennium Development Goals in an Era of Global Uncertainty”, said the global downturn has hampered the region’s efforts to reduce poverty.
“On the basis …. Original article on Gaea Times at  : Global crisis to drag 21 million Asians into poverty.

We will boost democracy, Dhaka tells foreign donors

DHAKA – Bangladesh has assured international donors that it will further improve the working of its parliament and boost democracy to facilitate an inclusive and faster pace of development.

The Anti-Corruption Commission and human rights bodies would also be strengthened, the Bangladesh Development Forum (BDF) 2010, a consortium of development partners, was told … Read the original article on Gaea Times at : We will boost democracy, Dhaka tells foreign donors.

Oil hovers above $77 in Asia after surging on signs US economy improving

Oil hovers above $77 amid improving US economy

SINGAPORE – Oil prices hovered above $77 a barrel Wednesday in Asia after surging the previous day amid expectations a growing U.S. economy will fuel increased crude demand.
Benchmark crude for March delivery was up 37 cents at $77.38 a barrel at midday Singapore time in electronic trading on …. Read the original article  : Oil hovers above $77 in Asia after surging on signs US economy improving.

Sensex opens strong, up 203 points

MUMBAI – A benchmark index for Indian equities opened strong Wednesday and after 35 minutes of trade was ruling 203 points higher than its previous close.

At 9.36 a.m., the 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,228.91 points, was at 16,430.32 points, up 203.64 points or 1.25 percent from …. Read the original article  : Sensex opens strong, up 203 points.

Former eBay CEO says her campaign strategy is to reach voters, not buy Calif. gov election

Ex-eBay CEO defends strategy in Calif. gov’s race

LAFAYETTE, Calif. – Former eBay chief executive Meg Whitman on Tuesday dismissed criticism that she is trying to buy the California governor’s seat by spending millions from her personal fortune.
The Republican candidate responded to questions about her spending as an independent Democratic group prepares to launch a media …. Read the original article  : Former eBay CEO says her campaign strategy is to reach voters, not buy Calif. gov election.

Asian markets higher on growing investor confidence in US economy, Greece debt crisis easing

Asian markets higher on signs US economy improving

SINGAPORE – Asian stocks gained Wednesday on renewed investor confidence in the U.S. economy while concerns about Greece’s debt crisis eased.
All major Asian equity markets rose, bolstered by a 1.7 percent jump in the Dow Jones industrial average Tuesday. Markets in China and Taiwan were closed for the … Original article on : Asian markets higher on growing investor confidence in US economy, Greece debt crisis easing.

BlackBerry unveils new server to access work email

TORONTO – BlackBerry maker Research In Motion (RIM) Tuesday unveiled new server that will allow its smart phone users to wirelessly access their work or corporate email “without compromising security.”

A RIM statement here said the free BlackBerry Enterprise Server Express software will meet many demands of two segments of its market.
First, the software will …. Original article  : BlackBerry unveils new server to access work email.

Astronauts take 3rd and final spacewalk to help unveil phenomenal new ‘window on the world’

Astronauts take shutter-raising spacewalk
CAPE CANAVERAL, Fla. – A pair of astronauts are spacewalking for the third and last time, and it promises to be a grand finale.

Robert Behnken and Nicholas Patrick floated out of the shuttle-station complex Tuesday night. One of their primary jobs is to unwrap the International Space Station’s phenomenal new domed lookout … Read the original article on Gaea Times at : Astronauts take 3rd and final spacewalk to help unveil phenomenal new ‘window on the world’.

NFLPA says league hasn’t properly provided low-revenue teams with supplemental revenue funds

NFLPA: League hasn’t properly shared revenue funds

NEW YORK – The NFL Players Association accused the league Tuesday of not sharing as much supplemental revenue with its lower-income teams as it is supposed to.
Jeffrey Kessler, the outside counsel for the NFLPA, said that a filing by the union is a result of the NFLPA concluding that …. Source  : NFLPA says league hasn’t properly provided low-revenue teams with supplemental revenue funds.

Military opens $48 million Pacific Warfighting Center in Pearl Harbor

Pacific Warfighting Center in Pearl Harbor opens

PEARL HARBOR, Hawaii – The military is opening a $48 million high-tech facility in Pearl Harbor it expects to use for exercises, training and battle simulations.
Commanders may also use the Pacific Warfighting Center to direct forces during disaster relief efforts and war.
Navy Adm. Robert Willard, the head of the … Original source on Gaea Times at : Military opens $48 million Pacific Warfighting Center in Pearl Harbor.

US stocks surge on financials, energy, manufacturing data

NEW YORK – US stocks rose strongly Tuesday amid some positive manufacturing data from New York and gains in financial shares and commodities.

Bank of America led the financial gains after reporting an unexpected rise in mortgage loans. Better-than-expected earnings from Britain’s Barclay’s Plc also bolstered the sector.
The price of oil jumped nearly 4 percent … Read : US stocks surge on financials, energy, manufacturing data.

Banks say UK mortgage lending hit 10-year low in January after surge in December

UK mortgage lending at 10-year low in January

LONDON – Mortgage lending in the United Kingdom hit a 10-year low in January, following an unusual surge in December as buyers sought to beat a new-year tax increase, the Council of Mortgage Lenders said Thursday.
Gross lending was 9.1 billion pounds ($14.2 billion) in January, the lowest monthly …. Original article  : Banks say UK mortgage lending hit 10-year low in January after surge in December.

Delhi, Dhaka to discuss electricity sharing

DHAKA – Bangladesh and India are to discuss cross-border power grid connectivity with participation from the state sector and private entrepreneurs, an official said.

Indian Power Secretary H.S. Brahma will lead the Indian delegation while Secretary to the Power Division M. Abul Kalam Azad will lead the Bangladesh team during the official talks that begin here …. Source article on Gaea Times at  : Delhi, Dhaka to discuss electricity sharing.

BPCL partner finds gas in Mozambique

MUMBAI – State-run oil marketing company Bharat Petroleum Corporation Ltd (BPCL) Thursday said gas had been discovered at an offshore Mozambique find in which its overseas subsidiary holds a 10 percent stake.

Bharat PetroResources Ltd., a wholly owned subsidiary of BPCL, holds a 10 percent participating interest in the Rovuma Basin, Area I, shore Mozambique.
“The …. Original article on Gaea Times at  : BPCL partner finds gas in Mozambique.

Sensex still sluggish, breadth weak

MUMBAI – A benchmark index for Indian equities continued to trade on a sluggish note Thursday afternoon and was ruling 129 points in the red about 45 minutes before closing bell.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,421.2 points, was trading at 16,299.7 points, down 129.21 points or … Read more >>.

Moody’s Investors Service downgrades Los Angeles financial outlook

Moody’s issues negative outlook for LA finances

LOS ANGELES – A major credit-rating agency has issued a gloomy outlook for the financial situation in Los Angeles.
Moody’s Investors Service on Wednesday reduced its opinion of the city’s finances from “stable” to “negative” because the city has delayed addressing its $212 million budget deficit.
The move could ultimately lead … Read the original article on Gaea Times at : Moody’s Investors Service downgrades Los Angeles financial outlook.

NYC judge set for chorus of discontent over Google online library before deciding its fairness

Google digital library faces outcry at NYC hearing

NEW YORK – A highly anticipated hearing to decide if Google can legally build the world’s biggest digital library is set for federal court in New York City.
Thursday’s hearing provides Manhattan Judge Denny Chin with oral arguments to go with more than 500 written submissions since Google Inc. … Read this article on Gaea Times at : NYC judge set for chorus of discontent over Google online library before deciding its fairness.

German car and truck maker Daimler reports 4th quarter net loss of $482 million

Daimler reports Q4 net loss of $482 million

STUTTGART, Germany – German car and truck maker Daimler AG says it lost euro352 million ($482 million) in the fourth quarter of 2009 amid the global economic slump.
The loss compares with a euro1.53 billion loss in the fourth quarter of 2008.
Revenue for the October-December period was euro21.3 billion, …. Source  : Gaea News Network.

Government to look at stimulus for weak export sectors in April

NEW DELHI – The government Thursday said it would take a call after the budget on providing a stimulus package for various export commodities which continued to fare poorly.

“We will provide internal stimulus to those exports which are making losses only after the budget,” commerce secretary Rahul Khullar told reporters here while releasing a study …. Read the original article  : here.

‘3 Idiots’ UAV attracts eyeballs at DefExpo

NEW DELHI – An unmanned aerial vehicle (UAV) that featured in the Aamir Khan starrer “3 Idiots” has been drawing considerable eyeballs at the DefExpo 2010 land and naval systems exhibition here.

Visitors were mesmerized by a small bird like object hovering 50 metres above the ground and beaming down video footage of the surroundings. With …. Original article on Gaea Times at  : ‘3 Idiots’ UAV attracts eyeballs at DefExpo.

Loss-ridden Air India to get Rs.800 cr fresh equity

NEW DELHI – Beleaguered national carrier Air India will get equity infusion of Rs.800 crore ($160 million) in two instalments to tide over its cash flow problem and to finance fleet acquisition plans.

A meeting of the Cabinet Committee on Economic Affairs, presided over by Prime Minister Manmohan Singh here Thursday, approved the fresh equity induction …. Original article  : Loss-ridden Air India to get Rs.800 cr fresh equity.

World markets slightly lower as investors look for new catalyst after big rally

World markets slightly lower after big rally

SINGAPORE – World stocks were mostly lower Thursday after rallying the previous day amid indications the U.S. economy is improving.
Major markets in Asia and Europe posted modest losses as investors looked for a new catalyst to drive prices higher after Wednesday’s gains. Oil prices slid below $77 a barrel …. Source article on Gaea Times at  : World markets slightly lower as investors look for new catalyst after big rally.

Indian company makes chopper airframes for US

NEW DELHI – The first India-made airframe of the Sikorsky S-92 medium-lift helicopter will be handed over to the US firm in November and there is the distinct possibility of the entire chopper being manufactured in this country at some stage – the first time that a major aviation actitivity is being done in the …. Original source  : Indian company makes chopper airframes for US.

Staffing company Randstad reports profit in Q4, says companies are taking on temporary workers

Staffing company Randstad makes Q4 profit of $63M

AMSTERDAM – Dutch staffing company Randstad Holding NV on Thursday said it made a profit in the fourth quarter, with its U.S. operations reporting growth for the first time in three years.
Net profit for the world’s second-largest supplier of temporary employees was euro46 million ($62.5 million), against a …. Read the original article  : Staffing company Randstad reports profit in Q4, says companies are taking on temporary workers.

Swiss-Swedish engineering group ABB reports 4th quarter net profit of $540 million

ABB reports Q4 net profit of $540 million
ZURICH – Swiss-Swedish engineering group ABB Ltd. reported a net profit of $540 million for the fourth quarter Thursday, helped by cost-cutting and a weak U.S. dollar.

Despite restructuring charges of $350 million, the company more than doubled its net profit from the $213 million earned in the same …. Read the original article  : Swiss-Swedish engineering group ABB reports 4th quarter net profit of $540 million.

Societe Generale 4th quarter profit up to $303M as international retail ops return to profit

Societe Generale Q4 profit more than doubles

PARIS – French bank Societe Generale SA said Thursday its net earnings more than doubled in the fourth quarter as its international retail and private banking operations returned to profit.
The Paris-based bank said its net profit in the three months ending Dec. 31 was euro221 million ($303 million), up …. Source article  : Societe Generale 4th quarter profit up to $303M as international retail ops return to profit.

Himalya International launches ‘Himalaya Fresh’

SHIMLA – India’s first Frozen Food Company Himachal Pradesh based Himalya International, which exports its products to USA has launched real fruit blended yogurts in the Metro cities under the brand name ‘Himalaya Fresh’.

Chairman Himalya International Limited Manmohan Malik said, so far only plain and flavored yogurts are produced in India by major companies and … Original article on : Himalya International launches ‘Himalaya Fresh’.

Paint maker Akzo Nobel reports $81.5 million loss in 4th quarter

Akzo Nobel reports smaller loss in Q4
AMSTERDAM – Akzo Nobel NV, the world’s largest maker of paint, reported a smaller net loss for the fourth quarter on Thursday as a big write-off hit last year’s results and demand began to recover in its key markets.

Net loss was ???60 million ($81.5 million), versus a loss of …. Original article  : Paint maker Akzo Nobel reports $81.5 million loss in 4th quarter.

Air India to get fresh equity worth Rs.800 crore

NEW DELHI – Beleaguered national carrier Air India will get equity infusion of Rs.800 crore ($160 million) to tide over its cash flow problems and finance the fleet expansion plans.

A meeting of the Cabinet Committee on Economic Affairs, presided over by Prime Minister Manmohan Singn here Thursday, approved the fresh equity for National Aviation Co …. Original article on Gaea Times at  : Air India to get fresh equity worth Rs.800 crore.

Glamorous ski resort that’s home to Alpine events may be for sale _ during the Olympics

Olympic Alpine site may be for sale during games

WHISTLER, British Columbia – At the height of its Olympic glory, Whistler – the ski resort hosting glamorous Alpine events at the Winter Games – may be headed for the auction block.
It’s owned by a New York hedge fund that is reportedly behind on a $524 million … Original article on : Glamorous ski resort that’s home to Alpine events may be for sale _ during the Olympics.

Employee-employee incivility in front of customers is bad for business

WASHINGTON – A new study has revealed that when employees are rude to one another, it creates a negative impression that affects consumer judgments of the company.

In the study, researchers Christine Porath, Debbie MacInnis, and Valerie Folkes from all University of Southern California found that consumers frequently witnessed incidents of employees behaving badly toward each …. Original article  : Employee-employee incivility in front of customers is bad for business.

Sullied by a sex scandal, Tiger Woods to make first public comments

Tiger Woods starts comeback with a speech
PONTE VEDRA BEACH, Fla. – Out of sight for almost three months, Tiger Woods will be back for a day.

After that – who knows.
Golf’s biggest star is to make his first public appearance Friday since he ran his SUV over a fire hydrant and into a tree outside his …. Source  : Sullied by a sex scandal, Tiger Woods to make first public comments.

Iran launches first locally built naval destroyer, calling it a major technological leap

Iran launches first locally built naval destroyer

TEHRAN, Iran – Iranian state TV is reporting that the country has launched its first domestically built destroyer, calling it a major technological leap for its naval industries.
Iran has declared many such advances in its military industries and sciences to demonstrate self-sufficiency despite sanctions and attempts by the U.S. …. Source article  : Iran launches first locally built naval destroyer, calling it a major technological leap.

Euro down at $1.3493 in European morning trade as Fed tightens lending, Greece concerns linger

Euro falls below 9-month lows at $1.3493
FRANKFURT – The euro has fallen below nine-month lows against the dollar after the U.S. Federal Reserve started unwinding some of its cheap liquidity measures for banks and as concerns about Greece’s budget linger.

The 16-nation euro bought $1.3493 in in European morning trade Friday, down from the $1.3617 late … Original source on Gaea Times at : Euro down at $1.3493 in European morning trade as Fed tightens lending, Greece concerns linger.

Sullied by a sex scandal, Woods to make first public comments

Woods starts comeback with a speech
PONTE VEDRA BEACH, Fla. – Out of sight for almost three months, Tiger Woods will be back for a day.

After that – who knows.
Golf’s biggest star is to make his first public appearance Friday since he ran his SUV over a fire hydrant and into a tree outside his Florida …. Original article  : Sullied by a sex scandal, Woods to make first public comments.

Millions of seniors face 14 percent premium increase for popular Medicare Advantage plans

Premiums jump 14 percent on Medicare private plans
WASHINGTON – Millions of seniors who signed up for popular private health plans through Medicare are facing sharp premium increases this year – another sign that spiraling costs are a problem even for those with solid insurance.
A study to be released Friday by a major consulting … Read more »».

Nestle reports $9.55 billion full-year net profit with sales of nearly $100 billion

Nestle makes $9.55 billion full-year profit

GENEVA – Swiss food and drinks company Nestle SA reported a full-year net profit of 10.4 billion Swiss francs ($9.55 billion) Friday, a significant drop from the 18 billion francs it earned the previous year, when it benefited from the sale of part of its stake in eye care company … Original article on : Nestle reports $9.55 billion full-year net profit with sales of nearly $100 billion.

World markets fall as Fed’s hike of emergency loan rate spurs investor concern about US growth

World stocks drop as Fed hikes emergency loan rate

SINGAPORE – Asian stocks tumbled Friday after the U.S. central bank unexpectedly raised interest rates for emergency bank loans, triggering fears that growth could slow in the world’s largest economy. European markets also lost ground.
The Federal Reserve said Thursday it will bump up the so-called “discount” lending …. Original source  : World markets fall as Fed’s hike of emergency loan rate spurs investor concern about US growth.

Green group seeks cancellation of clearance to Vedanta refinery

BHUBANESWAR – A green NGO Friday urged the central government to cancel the clearance granted to the Vedanta group for its alumina refinery in Orissa. It charged the firm with violating the clearance conditions, and said trucks bringing raw material to refinery were polluting the air.

Biswajit Mohanty, secretary of the Wildlife Society of Orissa, has … Read this article on Gaea Times at : Green group seeks cancellation of clearance to Vedanta refinery.

India to order 29 more combat jets for navy

PANAJI – India will order 29 more MiG-29K combat jets for the navy to add to the 16 planes that have already been contracted for, Defence Minister A.K. Antony said Friday.

“As per the navy’s requirements we will be buying 29 additional fighter aircraft from Russia,” Antony told reporters after formally inducting the navy’s first four …. Source article on Gaea Times at  : India to order 29 more combat jets for navy.

Emotional connect with customer key to branding: Godrej

BANGALORE – The ubiquitous customer and his/her role in driving business growth occupied the centre-stage at the fifth Brand Summit 2010 here Friday.

Godrej group chairman Adi Godrej, who delivered the inaugural address, highlighted the importance of emotional connect with the customer for brand building through authentic delivery of value.
Emotional connect with the customer complements …. Read the original article  : Emotional connect with customer key to branding: Godrej.

Toyota president vows to speak ’sincerely,’ seek understanding from Congress, American people

Toyota’s president to testify before Congress

TOKYO – Toyota’s president Akio Toyoda, under fire for his handling of sweeping recalls, will testify before a congressional hearing next week, appealing to U.S. lawmakers and aggrieved customers for understanding while the company fixes its safety problems.
Japanese officials praised the decision by Toyoda, grandson of the company’s founder, to … Read this article on Gaea Times at : Toyota president vows to speak ’sincerely,’ seek understanding from Congress, American people.

Selling intensifies, Sensex down 231 points

MUMBAI – Selling pressure intensified at Indian equities markets Friday afternoon, pushing a key index 231 points below its previous close.

At 1.30 p.m., the 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,256.53 points, was at 16,096.57 points, down 231.27 points or 1.41 percent from its previous close. … Read the original article on Gaea Times at : Selling intensifies, Sensex down 231 points.

Government of Bihar signs MoU with Reserve Bank of India

The Government of Bihar and the Reserve Bank of India have, on  February 19, 2010 signed a Memorandum of Understanding with regard to Urban Co-operative Banks (UCBs) in the State of Bihar.  Consequent upon this, a State level Task Force on Urban Co-operative Banks (TAFCUB) has been constituted for Bihar. …. Original source  : Government of Bihar signs MoU with Reserve Bank of India.

Facebook fan pages ‘effective’ marketing tool

WASHINGTON – Facebook and its fan page module can be a very useful tool for increasing sales of a company, a new study claims.

The new research from Rice University’s Jones Graduate School of Business suggests that the social networking site holds the potential of an effective social marketing tool that can improve word-of-mouth marketing and … Read more >>.

Highlights of economic review by PM’s council

NEW DELHI – Following are the highlights of a review of the Indian economy conducted by the Prime Minister’s Economic Advisory Council headed by C. Rangarajan:

- India’s growth pegged at 7.2 percent for this fiscal
- Economy to grow 8.2 percent and 9 percent over next two years
- Agriculture output to decline 0.2 percent …. Original source  : Highlights of economic review by PM’s council.

Anglo American full-year profit down 54 percent as recession hits key metals and coal markets

Anglo American full-year profit down 54 pct

LONDON – Mining company Anglo American PLC on Friday reported that full-year profits fell 54 percent as the global economic downturn hit sales of coal, iron ore and other metals.
Net profit for 2009 was $2.43 billion, down from $5.2 billion a year earlier. Revenue fell by 25 percent to …. Original article  : Anglo American full-year profit down 54 percent as recession hits key metals and coal markets.

PM’s council for cautious exit from fiscal stimulus

NEW DELHI – India must initiate fiscal correction in the upcoming budget, but also tread carefully while exiting stimuli packages as it must not crowd out expenditure on infrastructure, the Prime Minister’s Economic Advisory Council said Friday.

The government cannot continue with the kind of large revenue and fiscal deficits recorded in the last two years …. Source  : Gaea News Network.

Carrefour full-year net profit drops 74 percent after $1.34 billion in turnaround costs

Carrefour 2009 net profit down 74 percent
PARIS – French retailer Carrefour SA said Friday that net profit last year fell 74 percent, impacted by euro1 billion ($1.34 billion) in restructuring charges linked to shuttering stores in Italy and turning around its stalling French operations.

The world’s second-largest retailer behind Wal-Mart Stores Inc. said that net profit … Read this article on Gaea Times at : Carrefour full-year net profit drops 74 percent after $1.34 billion in turnaround costs.

BJP blames futures trading for price rise

INDORE – The Bharatiya Janata Party (BJP) Friday blamed futures trading in the commodity market for rising food prices.

“The BJP believes that the most important reason for price rise, apart from incompetence and lack of leadership, is rampant corruption. Members of the cabinet have made money through futures trading in the commodity market,” senior party …. Source article  : BJP blames futures trading for price rise.

PM’s council for clear policy on genetically modified crops

NEW DELHI – India must take note of the success of Bt cotton in the country and formulate clear-cut policy on genetically modified crops, Prime Minister’s Economic Advisory Council said in a report presented Friday.

The remarks come against the backdrop of the environment ministry’s recent moratorium on the commercial production of Bt brinjal following vehement …. Original article on Gaea Times at  : PM’s council for clear policy on genetically modified crops.

NGOs to be involved in India’s 2011 census

AGARTALA – For the first time in India, non-government organisations (NGOs) will be involved in carrying out the country’s gigantic 2011 census operation, officials said here Saturday.

“Besides senior officials, renowned personalities from among the NGOs have been selected as national trainers in each state to provide training to other officials to conduct the enumeration of … Read more >>>.

Cities vying to host next America’s Cup, which could add billions to local economy

Cities vying to host next America’s Cup
SAN FRANCISCO – The courtship of billionaire Larry Ellison began almost as soon as his space-age trimaran sailed to victory in the 33rd America’s Cup.

He now has at least two mayors of major California cities, Rhode Island’s governor and countless sailing enthusiasts pleading their cases for why their locales …. Source article  : Cities vying to host next America’s Cup, which could add billions to local economy.

Tata Corus warned as it mothballs British plant

LONDON – Angry unions threatening strike action warned Tata-owned Corus it will face “maximum damage” as the steel giant began mothballing a plant in northeast England after investors walked away.

Corus, the European arm of Tata Steel, began decommissioning its Teesside Cast Products (TCP) plant in Redcar – a step that would throw up to 1,600 …. Source  : Tata Corus warned as it mothballs British plant.

Judge sets stage for trials over 9/11 illnesses, picks 12 responders to represent thousands

Judge sets stage for trials over 9/11 illnesses

NEW YORK – A federal judge has picked 12 ground zero responders whose cases will be the first to go to trial over illnesses caused by ash and dust from the World Trade Center following the terrorist attack.
More than 9,000 people who played a role in the massive … Read this article on Gaea Times at : Judge sets stage for trials over 9/11 illnesses, picks 12 responders to represent thousands.

Tiger Woods apologizes for ‘irresponsible’ behavior, is unsure when he’ll play golf again

Apologetic Tiger Woods unsure of return to golf

PONTE VEDRA BEACH, Fla. – Somber, composed – and vulnerable – Tiger Woods faced the world and said the words out loud.
“I cheated.”
“I am deeply sorry.”
“I understand people have questions.”
What Woods did not do Friday was answer a couple of the biggest: What really happened? When will he …. Original article on Gaea Times at  : Tiger Woods apologizes for ‘irresponsible’ behavior, is unsure when he’ll play golf again.

Philippines triples rice yield

WASHINGTON – Over the past 50 years, the Philippines has more than tripled its rice yield while the world average rice yield has increased only about 2.3 times.

Despite being criticised as a poor rice producer because of its status as the world’s biggest rice importer, the Philippines has done remarkably well in raising its … Original article on : Philippines triples rice yield.

Tata hints at investment in Canadian mining sector

TORONTO – Tata Group chairman Ratan Tata has said his conglomerate will expand its presence in Canada, hinting at mining as one of the areas of interest.

Currently, the group’s Tata Consultancy Services (TCS) has operations across Canada, with offices in Montreal, Calgary and Mississauga in the Greater Toronto Area and presence in other cities. … Read the original article on Gaea Times at : Tata hints at investment in Canadian mining sector.

Sensex static as traders wait for budget (Weekly Market Review)

MUMBAI – Indian stock markets were caught up in volatile trading this week with a key index see-sawing between red and green terrains but managing to end Friday with meagre gains.

Global cues were depressing too. Bourses across the world traded on an uncertain note after the US Federal Reserve’s decision to increase lending rates …. Source  : Sensex static as traders wait for budget (Weekly Market Review).

‘India heading for record wheat production’

AHMEDABAD – India may have record wheat production in the current Rabi season if rain or hail does not damage the crop that will soon be ready for harvest, says S. Nagarajan of the central agriculture ministry.

Nagarajan, chairperson of the protection of plant varieties and farmers’ right authority, was delivering the keynote address at an … Original source on Gaea Times at : ‘India heading for record wheat production’.

Cooking gas shortage leaves Egyptians waiting in long lines, fuming at government

Gas shortage raises Egyptians’ anger at government

CAIRO – It’s something Egyptians rely on daily: the “ambooba,” the steel canister of government-subsidized cooking and heating gas, hooked to the stove or water heater in the cramped homes of nearly everyone in this country’s large population of poor.
So in recent weeks, when the amboobas stopped coming, the …. Source article on Gaea Times at  : Cooking gas shortage leaves Egyptians waiting in long lines, fuming at government.

IPO of Coal India expected by August

KOLKATA – Coal India Ltd (CIL) is expected to come out with its Initial Public Offer (IPO) of shares by August, a company official said.

“We discussed the tentative timeline with SEBI (Securities and Exchange Board of India) Friday,” Coal India Chairman Partha S. Bhattacharyya said Friday after meeting SEBI officials in Mumbai.
He said the …. Original source  : IPO of Coal India expected by August.

Obama cites India again to ask Americans to buck up

WASHINGTON – For the third time in a month, President Barack Obama has cited the success of India and China to exhort Americans to be prepared to meet increasing competition from other countries.

“I said this during the State of the Union. I repeated it today in Henderson in my town hall. Other countries are not … Read more : Obama cites India again to ask Americans to buck up.

India agrees to set up 1,320 MW power plant in Bangladesh

DHAKA – In a joint venture with India, a power plant will be set up in Bangladesh in three years to produce 1,320 MW.

Two coal-fired units with production capacity of 660 MW each will be built in Khulna district, 180 km southwest of Dhaka.
A bilateral document prior to signing of a Memorandum of … Read more : India agrees to set up 1,320 MW power plant in Bangladesh.

Japan looking to Toyota’s president to clear tarnished image, prevent frictions over recalls

Japan hopes Toyoda can clear image, cool friction

TOKYO – Japan is looking to Toyota president Akio Toyoda’s appearance before U.S. lawmakers next week to help burnish an image marred by a flood of recalls – and to prevent grievances over the issue from fanning broader political tensions.
With his company facing the worst crisis in its …. Original article on Gaea Times at  : Japan looking to Toyota’s president to clear tarnished image, prevent frictions over recalls.

Frank McCourt’s wife seeks nearly $1 million per month from Dodgers owner

Frank McCourt’ wife seeks nearly $1M per month

LOS ANGELES – The estranged wife of Los Angeles Dodgers owner Frank McCourt wants nearly $1 million per month in temporary support, arguing that he is trying to mislead the court about his financial resources.
The amount was revealed in a 1,423-page court filing unsealed Thursday in which Jamie … Read more »»».

Product Recalls: Granola bars

Recalls: Granola bars
The following recalls have been announced:

- Trader Joe’s Company of Monrovia, Calif., is voluntarily expanding the recall of the Trader Joe’s Chocolate Chip Chewy Coated Granola Bars (SKU 82818) to include all code dates, manufactured by Bloomfield Bakery, a subsidiary of Ralcorp Holdings, Inc., because it has the potential to be contaminated with … Read more »»».

Regulators shut banks in Calif., Ill., Fla., Texas, putting US bank failures at 20 for year

Banks in Calif., Ill., Fla., Texas are shut down
WASHINGTON – Regulators shut four banks from California to Florida on Friday, boosting to 20 the number of U.S. bank failures this year following the 140 closures last year in the worst financial climate in decades.
The Federal Deposit Insurance Corp. took over La Jolla Bank, … Read more >>>.

Facing budget crisis, LA Mayor Villaraigosa plans to close 2 agencies

Facing budget crisis LA mayor to shutter agencies

LOS ANGELES – Mayor Antonio Villaraigosa on Friday forecast a long season of painful budget cuts that will shutter city departments, force layoffs and potentially slash salaries for police, firefighters and other city workers.
Over the next 16 months, the nation’s second-largest city needs to close spending gaps of …. Original article on Gaea Times at  : Facing budget crisis, LA Mayor Villaraigosa plans to close 2 agencies.

Parents angry over American Idol contestant Todrick Hall’s failed musical, want fees returned

Parents angry at Idol contestant Todrick Hall

NASHVILLE, Tenn. – The success of an “American Idol” contestant is causing a stir among parents who are complaining they never got refunds for performance fees in a failed musical production Todrick Hall wrote and directed.
Hall, who on Tuesday made it into the top 24 on “American Idol,” wrote … Read this article on Gaea Times at : Parents angry over American Idol contestant Todrick Hall’s failed musical, want fees returned.

Parents angry over American Idol contestant’s failed musical, want performance fees returned

Parents angry at ‘American Idol’ contestant

NASHVILLE, Tenn. – The success of an “American Idol” contestant is causing a stir among parents who are complaining they never got refunds for performance fees in a failed musical production Todrick Hall wrote and directed.
Hall, who on Tuesday made it into the top 24 on “American Idol,” wrote “Oz, …. Source  : Parents angry over American Idol contestant’s failed musical, want performance fees returned.

Imported timber industries in Kutch likely

GANDHINAGAR – A six-member committee set up by the Supreme Court in the face of environmental concerns has agreed in principle that imported timber-based industries should be housed in the Kutch region of Gujarat, sources in the state government say.

The panel is on an on-the-spot tour following a host of environmental and wildlife concerns which …. Source  : Imported timber industries in Kutch likely.

Uttar Pradesh sugar output up despite adversities

LUCKNOW – Adversities and low output in other parts of the country notwithstanding, the sugar output has gone up in Uttar Pradesh and the state remains India’s second highest producer of the sweetener after Maharashtra.

“According to an assessment we made on Feb 17, the state’s sugar production was expected to touch 41.60 lakh (4.16 million) …. Source  : Gaea News Network.

Mukherjee has room to budget for lower fiscal deficit

NEW DELHI – Having opened the purse strings to weather the ills of global slowdown the past two years, Finance Minister Pranab Mukherjee appears set to re-start the process of fiscal consolidation in the national budget for 2010-11 to be presented Friday with the twin objective of pushing inclusive growth and containing prices.

With fiscal deficit …. Read the original article  : Mukherjee has room to budget for lower fiscal deficit.

RBI organises outreach programmes in northeast villages

AIZAWL – In an effort to touch base with people in far-flung areas, the Reserve Bank of India (RBI) is organising financial outreach programmes in remote villages of the country’s northeast as part of its 75th anniversary celebrations.

The seventh such camp by the central bank was held in Mizoram’s Seling village, 55 km from [..] Read the original article: here.

RBI asks nationalised banks to reach far-flung areas

AIZAWL – The Reserve Bank of India (RBI) has asked nationalised banks to provide banking services in all villages, far-flung areas and human habitations in the country, RBI deputy governor Subir Gokarn has said.

“It is very important for every adult Indian citizen to have a bank account since a scheduled bank is not only a … Read more : RBI asks nationalised banks to reach far-flung areas.

A tour that traces the life of Princess Diana for tourists

LONDON – A tour tracing the life of Princess Diana, who died in 1997, has been launched here, taking tourists on a trip that includes the London flat where she lived before meeting Prince Charles, Buckingham Palace and Westminster Abbey.

The three-hour trip, costing 75, shows all the key places in 36-year-old Diana’s life, Daily Express …. Source article on Gaea Times at  : A tour that traces the life of Princess Diana for tourists.

Reliance Life launches new unit linked insurance product

MUMBAI – Reliance Life Insurance, a part of the Reliance Anil Dhirubhai Ambani Group, Sunday launched a new unit-linked insurance plan that “guarantees high returns” and targets policy holders from 30-day infants to 65-year senior citizens.

“The new plan has been developed with the objective to maximise returns for policyholders and guarantees benefit at the highest …. Read the original article  : Reliance Life launches new unit linked insurance product.

China to tighten control on sex-related TV advertisements

BEIJING – China’s television watchdog has initiated a fresh round of crackdowns on sex-related TV commercials, warning it might go as far as revoking broadcasting licences for those companies acting out of line.

According to a circular posted Saturday on the State Administration of Radio, Film and Television (SARFT) website, all commercials for drugs, medical equipment … Read this article on Gaea Times at : China to tighten control on sex-related TV advertisements.

Reports: Japan’s Transport Ministry to review car recall system, in sharpening focus on safety

Reports: Japan to review car recall system

TOKYO – Japan’s transport ministry may review and improve its car recall system, reports said Sunday, as Toyota Motor Corp. battles accusations it may have delayed acting on drivers’ complaints.
The step reflects deepening concerns in Japan over Toyota’s recalls of more than 8 million vehicles, most of them in … Read more : Reports: Japan’s Transport Ministry to review car recall system, in sharpening focus on safety.

McGrady scores 26 points in Knicks debut, but Durant has 36 in Thunder’s 8th straight win

Durant, Thunder spoil McGrady’s Knicks debut

NEW YORK – Tracy McGrady’s dazzling debut was just about everything the New York Knicks could have hoped for.
It just wasn’t enough to stop Kevin Durant and the surging Oklahoma City Thunder.
Durant scored 36 points and made the go-ahead jumper with 16 seconds left in overtime, and the Thunder beat …. Source article on Gaea Times at  : McGrady scores 26 points in Knicks debut, but Durant has 36 in Thunder’s 8th straight win.

Person familiar with negotiations: Tigers, OF Johnny Damon agree on $8 million, one-year deal

AP source: Tigers, Damon agree on $8M, 1-yr deal

A person familiar with the negotiations tells The Associated Press the Detroit Tigers and Johnny Damon have reached a preliminary agreement on an $8 million, one-year contract.
The person, who talked Saturday on condition of anonymity because the deal hasn’t been announced, says the contract is subject to … Read more : Person familiar with negotiations: Tigers, OF Johnny Damon agree on $8 million, one-year deal.

Designer Mark Fast deploys plus-size models, helps make London’s catwalk a little curvier

Designer keeps it curvy on the London catwalk

LONDON – Usually the domain of the waifishly thin, London’s catwalk got a dose of realism when knitwear designer Mark Fast deployed several plus-size models to fill his skintight creations Saturday.
The Canadian-born Fast was at the center of a minor stir at last season’s Fashion Week after media …. Original article  : Designer Mark Fast deploys plus-size models, helps make London’s catwalk a little curvier.

In London, John Rocha shows sleek-looking men’s coats _ but womenswear suffers by comparison

In London, Rocha shows sleek-looking men’s coats

LONDON – With autumn/winter fashion shows, it’s not a bad idea to toss in a few coats.
Designer John Rocha went a step further, showing a dozen layered shearling, leather and felt wool coats for men that blew away the rest of his collection Saturday at London Fashion Week.
The coats … Original article on : In London, John Rocha shows sleek-looking men’s coats _ but womenswear suffers by comparison.

In London, PPQ offers short shorts for winter; black dresses with golden trim

In London, PPQ proposes short shorts for winter

LONDON – The design team PPQ has decided there are only two colors for next fall and winter – black and gold – and the shortest of short shorts is exactly what women need to fend off the winter chill.
Really.
Funny thing was, their shiny gold one-piece short ensemble … Original source on Gaea Times at : In London, PPQ offers short shorts for winter; black dresses with golden trim.

In 86th birthday broadcast, Mugabe defends business take overs

Mugabe defends business take overs
HARARE, Zimbabwe – President Robert Mugabe defended a law requiring Zimbabwean businesses to be controlled by blacks, underlining differences with his governing partners in an interview Saturday.

Mugabe’s governing partner, Prime Minister Morgan Tsvangirai’s Movement for Democratic Change, has said the law is unworkable and will discourage much-needed investment. The law was … Original article on : In 86th birthday broadcast, Mugabe defends business take overs.

With states still reeling from recession, governors brainstorm about tough road ahead

Governors meet, brace for more economic turmoil

WASHINGTON – On the recession’s front lines, governors brainstormed Saturday about the road ahead for states struggling with unrelenting joblessness and cut-to-the-bone budgets even as Washington reports signs of economic growth.
“The worst probably is yet to come,” warned Gov. Jim Douglas, R-Vt., chairman of the National Governors Association. He …. Source  : With states still reeling from recession, governors brainstorm about tough road ahead.

AP Top News at 3:41 p.m. EST

AP Top News at 3:41 p.m. EST
Fighting rages as Karzai urges restraint from NATO
MARJAH, Afghanistan – U.S. Marines and Afghan soldiers advanced through poppy fields of Marjah on Saturday under withering gunfire from Taliban fighters shooting from mudbrick homes and compounds where families huddled in terror. President Hamid Karzai urged NATO to do more to … Read more : AP Top News at 3:41 p.m. EST.

With states still reeling from recession, governors brainstorm about the tough road ahead

Governors brace for more economic turmoil
WASHINGTON – On the recession’s front lines, governors are struggling to chart the road ahead for states staggered by unrelenting joblessness and cut-to-the-bone budgets even as Washington reports signs of economic growth.
“The worst probably is yet to come,” warned Gov. Jim Douglas, R-Vt., chairman of the …. Read the original article  : here.

AP Top News at 3:24 p.m. EST

AP Top News at 3:24 p.m. EST
Fighting rages as Karzai urges restraint from NATO
MARJAH, Afghanistan – U.S. Marines and Afghan soldiers advanced through poppy fields of Marjah on Saturday under withering gunfire from Taliban fighters shooting from mudbrick homes and compounds where families huddled in terror. President Hamid Karzai urged NATO to do more to … Read more »»».

AP Top News at 2:42 p.m. EST

AP Top News at 2:42 p.m. EST
Live From Washington! It’s Obama health care dramaWASHINGTON – Coming soon to daytime television: America’s long-running civic drama over how to provide better health care to more of its people without breaking the bank. President Barack Obama summons anxious Democrats and aloof Republicans to a … Read the original article on Gaea Times at : AP Top News at 2:42 p.m. EST.

Drugmaker Novarits says meningitis vaccine gets US approval for people between 11 and 55

Novartis gets US approval for meningitis vaccine

BASEL, Switzerland – Swiss drugmaker Novartis AG said Monday that its meningitis vaccine Menveo has been approved for use in teenagers and adults by the U.S. Food and Drug Administration.
Menveo is a vaccine against four common types of bacterial meningitis, which affects between 1,000 and 3,000 people each year …. Source  : Gaea News Network.

German airline Lufthansa cancels hundreds of flights as pilots begin 4-day strike

Lufthansa nixes 800 flights as pilots strike

BERLIN – German airline Lufthansa canceled about 800 flights Monday, affecting some 10,000 passengers worldwide, after more than 4,000 pilots began a four-day walkout over job security.
Europe’s biggest airline by sales said many long-haul flights to the U.S., including New York and Denver, were canceled because of the strike …. Original article  : German airline Lufthansa cancels hundreds of flights as pilots begin 4-day strike.

Iran says it plans to begin construction of 2 uranium enrichment sites in next few months

Iran VP: work on 2 enrichment sites to begin soon

TEHRAN, Iran – Iran’s vice president says the country plans to begin construction on two new uranium enrichment facilities in the next Iranian calendar year, which begins March 21.
Ali Akbar Salehi, who is also the head of Iran’s nuclear program, said Monday Tehran intends to use …. Source article on Gaea Times at  : Iran says it plans to begin construction of 2 uranium enrichment sites in next few months.

Orissa miffed by Mamata cold shoulder

BHUBANESWAR – Leaders in Orissa are miffed with Railway Minister Mamata Banerjee for not meeting an all-party delegation from the state that wanted to apprise her of their needs ahead of the railway budget.

“It is unfortunate that the minister has no time for an all-party delegation which customarily apprises the state’s demand to the rail … Read the original article on Gaea Times at : Orissa miffed by Mamata cold shoulder.

Sterlite wins $160 mn power project for northeast

PUNE – Fibre-optic cable manufacturer Sterlite Technologies has won a project worth $160 million (Rs.800 crore) for developing a power transmission network in northeastern India, the company said in a regulatory filing Monday.

The project has been awarded to the Sterlite Technologies on Build, Own, Operate and Maintain (BOOM) basis wherein the company would commission the …. Source article  : Sterlite wins $160 mn power project for northeast.

Hong Kong rejoices over Berlin film prize, seeing renaissance in low-budget local story

Hong Kong rejoices over Berlin film prize
HONG KONG – Hong Kong celebrated a rare foreign prize for one of its films Monday – a low-budget family drama set in the 1960s – a triumph viewed as a huge moral boost for a struggling industry overshadowed by the booming Chinese market.

Alex Law’s “Echoes of the Rainbow” … Read more »».

Obama to unveil latest health care proposal Monday, days before bipartisan summit on the issue

New Obama health proposal would limit rate hikes
WASHINGTON – Taking the fight to insurance companies, President Barack Obama is trying to revive his stalled health care overhaul.
Obama will propose giving federal authorities the power to limit rate hikes by health insurers – part of a new blueprint for remaking the health …. Source  : Gaea News Network.

ArcelorMittal explores other Jharkhand sites for steel plant

RANCHI – Steel giant ArcelorMittal is looking for an alternative site in Jharkhand to set up a 12 million tonne greenfield plant after it faced difficulties in the earlier selected site straddling Khuti and Gumla districts, an official said Monday.

The company representatives visited villages in Bokaro district Sunday and interacted with residents of Kasmar block, …. Source article on Gaea Times at  : ArcelorMittal explores other Jharkhand sites for steel plant.

Indian markets join Asian rally, Sensex up 163 points

MUMBAI – Indian equities markets were in an uptrend Monday, joining the rally in other Asian bourses. A key benchmark index for Indian equities managed to hold on to its early morning gains and was ruling 163 points higher in the afternoon.

At 1.14 p.m., the 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), … Read this article on Gaea Times at : Indian markets join Asian rally, Sensex up 163 points.

Raw milk proponents take cause to capitols, courtrooms as public health officials warn of risk

Raw milk debate spills into capitols, courts

DES MOINES, Iowa – Debate about the health attributes and risks of raw milk is spilling into statehouses and courtrooms across the country as proponents of unpasteurized dairy products push to make them easier for consumers to buy.
Supporters of the raw milk cause say pasteurization, the process of heating …. Source  : Raw milk proponents take cause to capitols, courtrooms as public health officials warn of risk.

Foreign Exchange Turnover Data

The Reserve Bank of India today released the data showing daily merchant and inter-bank transactions in foreign exchange for the period February 1, 2010 to February 5, 2010.

All Figures are in USD Millions     

MERCHANT

INTER BANK

Position
Date

 
Spot

FCY/INR Forward

Forward
…. Source article  : Foreign Exchange Turnover Data.

India expanding civil n-energy programme: President

NEW DELHI – India is fast expanding its “ambitious” civil nuclear energy programme and has signed peaceful atomic agreements with many countries, President Pratibha Patil said here Monday, adding that many more such deals were being negotiated.

“As part of the ambitious expansion of the country’s nuclear energy programme, approval was accorded to the construction of …. Source  : India expanding civil n-energy programme: President.

Pentagon report paints bleak picture of Taiwan air defense capabilities

Pentagon paints grim picture of Taiwan air defense

TAIPEI, Taiwan – The Pentagon has painted a grim picture of Taiwan’s air defense capabilities, raising serious doubts about the island’s ability to withstand an attack from rival China.
A U.S. Defense Intelligence Agency report obtained Monday by The Associated Press says while Taiwan has almost 400 combat aircraft …. Original article on Gaea Times at  : Pentagon report paints bleak picture of Taiwan air defense capabilities.

Government committed to rapid development in northeast: Patil

NEW DELHI – The government is committed to the rapid development of infrastructure in the northeastern states, President Pratibha Patil said here Monday.

“My government remains committed to the rapid development of infrastructure in the northeastern states. The special accelerated road development programme covering almost 10,000 kilometres is in progress,” Patil said addressing a joint sitting …. Read the original article  : Government committed to rapid development in northeast: Patil.

Government committed to meet climate challenges: President

NEW DELHI – The government is committed to meet the challenges of climate change, President Pratibha Patil said Monday.

She said that an ambitious solar mission has been initiated to generate 20,000 MW of clean power by 2022.
“My government has taken several steps to meet the challenges of climate change. The National Action Plan [..] Read the original article: here.

India to grow 7.5 percent this fiscal: President

NEW DELHI – President Pratibha Patil Monday kicked off the budget session of parliament on a positive note, saying the country not only faced the global financial crisis with strong policies but was also poised to grow at 7.5 percent this fiscal.

“At a time when industrialised countries have experienced negative growth, India has continued to …. Source article  : India to grow 7.5 percent this fiscal: President.

Shree Renuka Sugars rises on Brazilian deal news

MUMBAI – The scrip of sugar refining major Shree Renuka Sugars Ltd (SRSL) rose more than 3.94 percent at the Bombay Stock Exchange during morning trade Monday, after the company said it was acquiring majority stake in a large Brazilian sugar and ethanol firm.

The SRSL stock rose more than 3.94 percent to Rs.187 during morning …. Source  : Gaea News Network.

Penn State coach Joe Paterno’s trademark thick-rimmed glasses net $9,000 at charity auction

Penn State coach’s glasses net $9,000 for charity

STATE COLLEGE, Pa. – Two Penn State graduates are paying $9,000 for a chance to see through Hall of Fame football coach Joe Paterno’s trademark thick-rimmed glasses.
The bid from Michelle and Kevin Coppola won an auction for a pair of spectacles donated by the Nittany Lions coach, who’s …. Original article on Gaea Times at  : Penn State coach Joe Paterno’s trademark thick-rimmed glasses net $9,000 at charity auction.

India’s growth rate impressive: President Patil

NEW DELHI – The government’s financial stimulus had yielded “handsome results” and the economic growth of India was likely to improve around 7.5 percent despite the meltdown, President Pratibha Patil said Monday.

“The global economic slowdown was met by strong policies of administering a domestic stimulus to the economy which has yielded handsome results,” Patil said … Read more >>.

Government working to deliver on inclusive growth: Patil

NEW DELHI – President Pratibha Patil Monday said her government was working single-mindedly to deliver the promise of inclusive growth for the “aam aadmi”, who had to be protected against the “ravages” of the economic crisis and the failure of the monsoon in mid 2009.

“Since assuming office in May 2009, my government has worked single-mindedly … Read more : Government working to deliver on inclusive growth: Patil.

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.

Act now, or you’ll have e-waste mountain, UN tells India

BALI – India, China and other developing countries face “the spectre of hazardous e-waste mountains” unless they step up action to collect and recycle e-waste, the UN Environment Programme (UNEP) has warned.

As sales of electronic products in India, China and other developing countries are set to rise sharply in the next 10 years, these “e-waste …. Original article on Gaea Times at  : Act now, or you’ll have e-waste mountain, UN tells India.

Indian Budget 2010-2011: Apparel Industry Speculations

NEW DELHI, INDIA (GaeaTimes.com)- With the declaration of the Union budget of India just days away, industries in India are gearing up to see an economic reform that would make things better for them in an era just recovering from a worldwide recession. Not all the industries, though. The textile industry [..] Read the original article: here.

UK ends unlimited support for Northern Rock deposits in May; protection will match other banks

UK trims support for Northern Rock depositors

LONDON – The British government said Wednesday that it will withdraw unlimited guarantees for depositors in Northern Rock in May as another step to preare for the mortgage lender’s return to private ownership.
Northern Rock was the first British casualty of the global credit crisis, nearly collapsing before being taken …. Source  : Gaea News Network.

China’s Hummer purchase, stalled by regulators, may take private equity route

China’s Hummer buy may take private equity route

SHANGHAI – The planned purchase of General Motors Co.’s Hummer brand by a Chinese heavy equipment maker appears stalled by regulators, but that hasn’t stopped investors from setting up a fund to invest in the deal.
GM and Sichuan Tengzhong Heavy Industrial Machinery Corp. extended the deadline for Hummer’s … Read this article on Gaea Times at : China’s Hummer purchase, stalled by regulators, may take private equity route.

Price rise forces Rajya Sabha adjournment for second day

NEW DELHI – An incensed opposition Wednesday forced three adjournments of the Rajya Sabha, the last one for the day, as it demanded a discussion on rising prices of essential commodities under a rule that requires voting. This was the second successive day that the house proceedings were disrupted.

The trouble began when the house assembled …. Source article on Gaea Times at  : Price rise forces Rajya Sabha adjournment for second day.

Railways to spend Rs.41,426 crore to modernise network, services

NEW DELHI – The government planned to spend Rs.41,426 crore ($8.29 billion) to modernise the rail network and improve customer services, Railway Minister Mamata Banerjee said while presenting her ministry’s budget in parliament Wednesday.

Out of this, Rs.4,411 crore will be spent to lay 1,000 km of new lines and Rs.1,302 crore for improving passenger amenities. … Read more : Railways to spend Rs.41,426 crore to modernise network, services.

No fare hikes, 52 new trains announced in India’s rail budget (Roundup)

NEW DELHI – Passengers were spared a fare hike, freight rates were lowered for some essential items and 52 new trains announced in India’s rail budget for 2010-11 that promises a new model to promote private investment in expanding the world’s second largest railroad network under a single management.

“We have saved Rs.2,000 crore ($40 million) …. Original article  : No fare hikes, 52 new trains announced in India’s rail budget (Roundup).

German medical company Fresenius sees fourth quarter net income rise 32 percent

Fresenius Q4 net income up 32 percent
FRANKFURT – German medical company Fresenius SE said Wednesday that its fourth quarter net income increased by 32 percent, thanks in part to a strong rise in North American revenue.

Fresenius said it earned euro155 million ($209 million) in the October-December period, compared with euro117 million in the fourth quarter … Original article on : German medical company Fresenius sees fourth quarter net income rise 32 percent.

Oil boom brings jobs, money, hope to long-impoverished ND American Indian reservation

American Indian reservation reaping oil benefits

NEW TOWN, N.D. – An oil boom on American Indian land has brought jobs, millions of dollars and hope to long-impoverished tribal members who have struggled for more than a century on the million-acre Fort Berthold Indian Reservation.
In little more than a year, oil companies have put dozens of money-producing …. Source  : Oil boom brings jobs, money, hope to long-impoverished ND American Indian reservation.

Nationwide strike against Greek fiscal austerity plan halts flights, services

Nationwide strike in Greece against austerity plan

ATHENS, Greece – Greek unions have staged a nationwide strike, grounding flights, shutting schools and crippling public services, to protest government austerity measures aimed at reducing public debt.
All flights to and from Greek airports are canceled Wednesday, while trains and ferries are also idle. Commuters in Athens are left …. Source  : Gaea News Network.

Lawmakers say UK government must act to stop libel tourism ‘humiliation’ of Britain

UK lawmakers: govt must act to stop libel tourism

LONDON – A group of lawmakers urged Britain’s government on Wednesday to change laws that lead foreigners to bring libel cases to U.K. courts, saying the laws risk stifling investigative journalism and media freedom.
The chairman of the House of Commons Culture, Media and Sport committee said it … Original article on : Lawmakers say UK government must act to stop libel tourism ‘humiliation’ of Britain.

Indian Railway Budget 2010-11

NEW DELHI, INDIA (GaeaTimes.com)- The honorable railway minister of India, Mamata Banerjee has drafted the railway budget for the year 2010-2011 and presently, she is putting forth her plans for the development of the Indian railway sector. As per the reports, people have high expectations from the railway budget 2010-2011 and hope for …. Original source  : Indian Railway Budget 2010-11.

Scheduled Banks’ Statement of Position in India as on Friday, February 12, 2010

(Amount in  Rupees crore)

 

 

Scheduled Commercial Banks (SCBs) (including RRBs)

All Scheduled Banks

 

 

13.02.2009

29.01.2010

 

12.02.2010

 

13.02.2009

29.01.2010

 

12.02.2010

 

 I

Liabilities to the Banking System (A)

 

 

*

 

*

 

 

*

 

*

 

a) Demand & time deposits from banks

45021.10

55417.65

 

55186.00

 

49151.62

58176.90

 

57426.93

**

 

b) Borrowings from banks

31842.63

17995.50

 

19691.20

 

31867.06

18002.66

 

19723.19

 

 

c) Other demand & time liabilities

25244.63

5556.58

 

5584.78

 

25247.89

5571.18

 

5592.07

 

II

Liabilities to Others              (A)

 

 

 

 

 

 

 

 

 

 

 

a) Deposits (other than from banks)

3687952.28

4295391.28

 

4299842.94

 

3800987.63

4434255.68

 

4438911.69

 

 

 i) Demand

448047.83

561193.65

 

544884.83

 

458681.90

574922.89

 

558646.69

 

 

ii) …. Source  : Gaea News Network.

Railway budget highlights (Roundup)

NEW DELHI – Highlights of the 2010-11 railway budget presented by Mamata Banerjee in parliament Wednesday:

– No increase in passenger fares
– Rs.100 reduction in freight per wagon for fertilisers and kerosene
– Free travel for cancer patients in 3rd AC classes
– Cost-sharing in public-private-partnership (PPP) mode in some gauge-conversion projects
– …. Original source  : Railway budget highlights (Roundup).

Oil hovers below $79 in Asia after US crude supplies drop, suggesting demand on the mend

Oil hovers below $79 after US crude supply drop

SINGAPORE – Oil prices hovered below $79 a barrel Wednesday in Asia after a report showed U.S. crude inventories unexpectedly fell last week, suggesting demand may be improving.
Benchmark crude for April delivery was up 6 cents to $78.92 a barrel at late afternoon Singapore time in electronic … Read : Oil hovers below $79 in Asia after US crude supplies drop, suggesting demand on the mend.

Survey shows German consumer confidence stagnant amid fears over economy, jobs

German consumer confidence stagnant
BERLIN – German consumer confidence is stagnating amid worries over the outlook for the economy and jobs as well as the potential impact of Greece’s debt crisis on the rest of Europe, a survey showed Wednesday.

The GfK research group said its forward-looking consumer climate index for March stands at 3.2 points – …. Source  : Gaea News Network.

Railway budget highlights (Seventh Lead)

NEW DELHI – Highlights of the 2010-11 railway budget presented by Mamata Banerjee in parliament Wednesday:

– Cost-sharing in public-private-partnership (PPP) mode in some gauge-conversion projects
– Further extension of Kolkata Metro on priority basis; stations to be named after Bahadur Shah Zafar, Tagore family
– Karmabhoomi trains to be introduced for migrant labour
– New …. Original article  : Railway budget highlights (Seventh Lead).

Fuel leakage prompts Maruti to recall A-Star model cars

MUMBAI – Maruti Suzuki India declared that it is recalling 100,000 of its A-Star hatchbacks, potentially undermining future sales of the best-selling vehicle on Tuesday.

The recall of the model, which is mainly exported to several European countries including Germany, Britain and France, began in November to fix a fuel leakage problem.
This was confirmed by …. Read the original article  : here.

Toyota’s CEO faces media-hungry lawmakers facing re-election, apologizes for dangerous flaws

Toyota CEO apologizes for recall, accidents

WASHINGTON – Japanese formality meets freewheeling Washington as the mysterious scion of the Toyota empire apologizes before a House committee investigating deadly flaws that sparked the recall of 8.5 million cars.
Akio Toyoda, the automaker’s 53-year-old chief executive, says the company grew too fast to keep up with safety controls.
“We pursued …. Original article on Gaea Times at  : Toyota’s CEO faces media-hungry lawmakers facing re-election, apologizes for dangerous flaws.

India schedules auction of third generation telecom spectrum

NEW DELHI – India Wednesday announced the schedule for auctioning radio frequency spectrum to private players for third generation (3G) telephony, with the process due to begin Thursday by issuing a general notice to interested players.

The schedule calls for the process to end April 10. The government also said auction for spectrum for broadband services …. Original article on Gaea Times at  : India schedules auction of third generation telecom spectrum.

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.

Reform panel for financial sector laws soon

NEW DELHI – A financial reform commission will be set up soon to rewrite and clean up the ‘old’ laws of the country in this sector, Finance Minister Pranab Mukherjee said Friday in his budget speech.

“Most of our legislations governing the financial sector are very old. Large number of amendments to these acts made at [..] Read the original article: here.

Oil hovers above $78 in Asia amid mixed crude demand signs, weaker dollar

Oil hovers above $78 amid mixed crude demand signs

SINGAPORE – Oil prices hovered above $78 a barrel Friday in Asia amid mixed signals about global crude demand.
Benchmark crude for April delivery was up 16 cents to $78.33 a barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange. The contract fell …. Original article on Gaea Times at  : Oil hovers above $78 in Asia amid mixed crude demand signs, weaker dollar.

Budget evokes mixed reaction in Orissa

BHUBANESWAR – Finance Minister Pranab Mukherjee proposing loans for farmers at two percent less than the market rate was appreciated by some in Orissa but many criticised the union budget presented by him Friday for the impending fuel price hike and for neglecting the state’s backward regions.

“The proposal of loans to farmers at a subsidized … Read the original article on Gaea Times at : Budget evokes mixed reaction in Orissa.

UK 4th quarter economic growth revised up to 0.3 pct from 0.1 pct; confirms recession exit

UK 4th quarter economic growth revised up
LONDON – British economic growth in the final quarter of 2009 has been revised upward to 0.3 percent, confirming the country’s exit from recession.

Friday’s release from the Office for National Statistics comes as a relief after fears that the 0.1 percent preliminary estimate for gross domestic output for the …. Source article on Gaea Times at  : UK 4th quarter economic growth revised up to 0.3 pct from 0.1 pct; confirms recession exit.

India raises defence allocation to Rs.147,344 crore

NEW DELHI – India’s defence expenditure has been raised to Rs.147,344 crore for 2010-11, up 8.13 percent from the revised estimates of the previous fiscal, in the budget presented by Finance Minister Pranab Mukherjee in the Lok Sabha Friday.

Secure borders and security of life and property fosters development. I propose to increase the allocation for [..] Read the original article: here.

Pranab earmarks Rs.1,37,674 crore for social sector

NEW DELHI – Union Finance Minister Pranab Mukherjee, Friday increased the spending on social sector to Rs.1,37,674 crore.

Presenting the annual Budget in the Lok Sabha, Mukherjee said the spending on social sector has been gradually increased to … Read more »»».

Indian Rupee to get a symbol, join the select club of currencies

NEW DELH – Union Finance Minister Pranab Mukherjee on Friday announced the proposal to formalize a symbol for the Indian Rupee in the ensuing years.

The proposed symbol will appropriately reflect and capture the Indian ethos and culture,” Mukherjee said during in his Budget speech in Lok … Read more >>>.

Mukherjee increases excise duty on oil, tobacco, gold

NEW DELHI – Union Finance Minister Pranab Mukherjee on Friday announced hike in excise duty for petrol, diesel, cars, TVs, cigarettes, tobacco, air-conditioner, gold and silver which were exempted as part of a stimulus package.

Presenting the budget for the year 2010 -2011, Mukherjee said hike in excise duty is the … Read more >>.

Union Budget 2010-11: Direct Tax Code Implementation

NEW DELHI, INDIA(GaeaTimes.com)-Finance Minister Pranab Mukherjee along with his Finance Ministry has declared Uniform Direct Tax Code (DTC) to come alive from April 1, 2011. As the finance minister puts it across it is evident that the finance ministry desk is already making arrangements to bring into effect the uniform Direct Tax Code by …. Read the original article  : here.

Tajikistan to vote in parliament election pitting government against Islamic party, Communists

Tajikistan to vote in parliamentary election

DUSHANBE, Tajikistan – Tajikistan, an impoverished nation in Central Asia that borders Afghanistan, votes for a new parliament Sunday as the country struggles to revive its economy and protect its borders from al-Qaida militants.
Western governments are keeping a close eye on Tajikistan, concerned that poverty and economic instability could lead …. Original article on Gaea Times at  : Tajikistan to vote in parliament election pitting government against Islamic party, Communists.

Asian stock markets rise as Japan’s economic health improves; European shares higher

Asia stocks gain amid strong Japan data; Europe up

HONG KONG – Asian stock markets climbed Friday as more evidence Japan’s economy was turning around added to optimism about the region’s economic prospects. European shares opened higher.
The move higher bucked selling in the U.S. and Europe overnight. The euro, meanwhile, regained some ground after concerns over …. Original article  : Asian stock markets rise as Japan’s economic health improves; European shares higher.

State-owned Chinese film studio eyes Shanghai listing this year

State-owned film studio eyes Shanghai listing

HONG KONG – China’s leading state-owned film studio is gearing up to offer shares on Shanghai’s stock market by the end of the year, a senior executive said Friday, in an indication of the local movie industry’s rapid expansion.
Auditors have finished sifting through China Film Group’s holdings, deputy chief executive …. Source article  : State-owned Chinese film studio eyes Shanghai listing this year.

Gems and jewellery sector not happy with budget

KOLKATA – Union Finance Minister Pranab Mukherjee’s proposal to increase customs duty on gold and silver has failed to excite the gems and jewellery sector that is concerned at not getting any interest relief.

“The prices of precious metals continue to rise. Since the customs duty is levied on these at specific rates, I propose …. Source  : Gaea News Network.

‘Living wage,’ employee benefits could factor into awarding of government contracts

‘Living wage’ could be factor in govt contracts

WASHINGTON – The White House is looking at a new policy that would give an advantage in bidding on government contracts to companies that offer generous benefits and good pay.
But business groups opposing the idea maintain it would shut out smaller businesses from competing for more than $500 …. Read the original article  : here.

Lloyds Banking Group 2009 net profit is 2.8 bln pounds ($4.3 bln), but pretax loss disappoints

Lloyds Banking Group in full year profit of $4.3B

LONDON – Lloyds Banking Group PLC on Friday reported a full-year net profit of 2.8 billion pounds as a goodwill gain helped offset soaring impairment charges.
The bailed-out bank made a pretax loss of 6.3 billion pounds, however, worse than analysts’ consensus forecast of 6.1 billion pounds.
For the … Read the original article on Gaea Times at : Lloyds Banking Group 2009 net profit is 2.8 bln pounds ($4.3 bln), but pretax loss disappoints.

Summary of Union Budget 2010-11

NEW DELHI – The Union Budget this year has aimed to focus on inclusive growth and ensuring food security. The concerns for ‘aam aadami’ or common man have gone hand in hand with credible measures for improving investment climate, strengthening infrastructure and fiscal consolidation.

As the country looks to ‘quickly revert to high GDP growth path’ … Read : Summary of Union Budget 2010-11.

Budget 2010 : Interest subsidy for exporters extended

NEW DELHI – Union Finance Minister Pranab Mukherjee on Friday proposed to extend the concessional export finance regime for select exporters for one more year till March 31, 2011.

Mukherjee’s announcement is considered as a relief to the sectors, which were hit by the global financial slowdown.
Presenting the budget for the year 2010-2011, Mukherjee said: “I …. Read the original article  : Budget 2010 : Interest subsidy for exporters extended.

Oil and gas shares increase by two percent in afternoon trade

MUMBAI – Amidst the budgetary proceedings in Parliament, the shares of oil and gas companies on Friday gained by two percent in the afternoon trade in the Bombay Stock Exchange.

The 10-share Bombay Stock Exchange oil and gas index was the biggest gainer in the intra-day trade and added over two percent to 9,699.73 points in … Read the original article on Gaea Times at : Oil and gas shares increase by two percent in afternoon trade.

Fuel prices to rise after Pranab’s budget

NEW DELHI – Fuel prices in the country are set to increase with Finance Minister Pranab Mukherjee Friday announcing restoration of basic duty on petrol, diesel and crude petroleum and a rise of Re.1 in central excise duty.

In his budget speech 2010-11, Mukherjee said the government had exempted fuel from basic customs duty to give … Read more : Fuel prices to rise after Pranab’s budget.

Japan’s industrial output rises, retail sales gain amid continued deflation

Japan factory output rises, retail sales gain

TOKYO – Japan’s industrial output rose for the 11th straight month in January amid rising demand in China and elsewhere in Asia while retail sales gained for the first time in nearly a year and a half. Another decline in consumer prices, meanwhile, cast a shadow over the country’s … Read more : Japan’s industrial output rises, retail sales gain amid continued deflation.

India’s budget: NRIs wake up and smell the coffee (Comment)

India’s budget yet again demonstrates to NRIs that investing in their homeland is probably the best option right now. The West is still struggling to climb out of one of its deepest recessions and provides low returns, while India’s growth story promises healthy returns. Surely, it’s time to wake up and smell the Indian coffee.

Soon …. Source article on Gaea Times at  : India’s budget: NRIs wake up and smell the coffee (Comment).

Is Dubai’s retail glory fading? (Comment)

Shopping is the soul of Dubai, a place whose very name can be pronounced “Do-Buy”! Retail is a key driver of Dubai’s economy. It is the major tourist attraction. Dubai lures visitors from Asia, Africa, Europe and the Middle East since it offers very enticing shopping experiences. The city offers scintillating malls, almost every brand … Read more >>>.

Toyota’s president to talk about the company’s quality woes in Beijing on Monday

Toyota’s president to visit China on Monday

TOKYO – Fresh from a grilling by U.S. lawmakers, Toyota President Akio Toyoda will speak Monday in China about his company’s quality problems, seeking to boost confidence and ease consumer worries in the world’s biggest auto market.
Toyoda, who testified at a U.S. Congressional hearing last week about the spate …. Source article  : Toyota’s president to talk about the company’s quality woes in Beijing on Monday.

Calif. Attorney General Jerry Brown tells Democrats to stay tuned on expected bid for governor

Brown keeps Calif. Democrats guessing on gov. run

SACRAMENTO, Calif. – With less than two weeks before he must enter the race for governor, state Attorney General Jerry Brown told college-age Democrats on Saturday to stay tuned for news about his presumed bid.
Brown, 71, has been acting rather coy for more than year about his plans, …. Source article on Gaea Times at  : Calif. Attorney General Jerry Brown tells Democrats to stay tuned on expected bid for governor.

More foreign tourists flocking to Chandigarh

CHANDIGARH – Foreign tourists seem to be falling in love with Chandigarh’s greenery, clean air and clear spaces. The number of tourists visiting one of India’s most well-planned and well-maintained cities has increased by 18 percent in the past year.

The number of foreign tourists visiting the union territory surged to 37,967 last year compared …. Original article on Gaea Times at  : More foreign tourists flocking to Chandigarh.

Visitor center at NY’s controversial African Burial Ground celebrates slaves who built America

Visitor center opens at NY’s African Burial Ground

NEW YORK – The government considers the African Burial Ground in lower Manhattan the most important historic urban archaeological project in the United States. But most people don’t know why.
Now, they can learn at a visitor center that opened Saturday at the site where about 15,000 Africans were …. Source article on Gaea Times at  : Visitor center at NY’s controversial African Burial Ground celebrates slaves who built America.

Pamela Anderson appeals to Canada’s PM to end the country’s annual seal hunt

Pamela Anderson asks Canada to end seal hunt

VANCOUVER, British Columbia – Pamela Anderson sent a letter Saturday to Canada’s prime minister requesting an end to the country’s annual seal hunt.
The Canadian actress and spokeswoman for People for the Ethical Treatment of Animals dropped the letter to Prime Minister Stephen Harper in a mailbox in front … Original source on Gaea Times at : Pamela Anderson appeals to Canada’s PM to end the country’s annual seal hunt.

Reports: Prudential PLC may buy AIG unit in deal valued at $25 billion

Reports: Prudential PLC may buy AIG unit
NEW YORK – Prudential PLC, Britain’s largest life insurer, is exploring a bid for the Asian life-insurance arm of American International Group Inc., according to media reports Saturday.

The Wall Street Journal, citing people familiar with the matter it did not name, reported a deal could come in a week. … Read more >>>.

Report: Toyota president to defend company in China, plans to speak in Beijing on Monday

Report: Toyota leader to defend company in China

NEW YORK – Toyota President Akio Toyoda plans to appear in Beijing on Monday to reassure Chinese consumers the company is committed to making safe vehicles, according to a published report.
On its Web site Saturday, The Wall Street Journal reported that a company spokesman said Toyoda will speak … Read the original article on Gaea Times at : Report: Toyota president to defend company in China, plans to speak in Beijing on Monday.

Excerpts from billionaire Warren Buffett’s annual letter to Berkshire Hathaway shareholders

Excerpts from Warren Buffett’s annual letter

Investor Warren Buffett released his annual letter to Berkshire Hathaway Inc. shareholders Saturday morning. The Berkshire chairman and chief executive spent a large part of the letter explaining the guiding principles he and Vice Chairman Charlie Munger follow in running the Omaha-based company. The full letter is available online at … Original article on : Excerpts from billionaire Warren Buffett’s annual letter to Berkshire Hathaway shareholders.

Buffett criticizes business world where shareholders hurt more than execs when risky bets fail

Buffett: Execs should pay price for risky bets

OMAHA, Neb. – Billionaire Warren Buffett, in his annual letter to shareholders, sternly urged companies to develop harsh penalties for executives who get into trouble with risky investments.
Buffett’s Berkshire Hathaway Inc. delivered a 61 percent jump in net income because the value of its investments and derivatives rose …. Original article  : Buffett criticizes business world where shareholders hurt more than execs when risky bets fail.

Co-workers weep during orcas’ SeaWorld performance, 1st since ‘Tilikum’ killed trainer

Emotional orca show marks 1st since trainer killed

ORLANDO, Fla. – Employees wept and audience members grew silent Saturday at SeaWorld as the theme park’s popular killer whale show resumed with a photo montage memorial for a trainer who was killed by one of the orcas in front of horrified spectators three days ago.
The show had … Read more »»».

Michael Jordan faces stiff challenges after agreeing to buy the Charlotte Bobcats

Jordan faces challenges in owning the Bobcats

CHARLOTTE, N.C. – Michael Jordan’s drive and immense physical talent made him an NBA superstar. His stardom and shrewdness helped him make millions in business.
His latest venture will test his talents and skills like no other.
NBA commissioner David Stern said Saturday he expects Jordan to be approved as majority …. Read the original article  : here.

Bags and shoes set the pace for Milan’s winter runway in these money-tight times

Accessories call the shots on Milan runway

MILAN – These parsimonious days fashion trends often start with the accessories, usually the least expensive and therefore most sellable items in a collection.
For this round of preview showings for the fall-winter 2010-2011, accessories are all about handle bags and booties, which appear in almost every show and underline … Read the original article on Gaea Times at : Bags and shoes set the pace for Milan’s winter runway in these money-tight times.

Analysis: Globalization turned on its head, cultures collide with Toyoda testimony on recalls

Analysis: Disparate cultures on display on Hill

WASHINGTON – Corporate leaders in Japan are affable cheerleaders who solicit everyone’s views and avoid confrontation at almost any cost. It’s called “nemawashi.” U.S. lawmakers are cutthroat partisans who clamor for the spotlight, especially in an election year. It’s called politics.
These cultures collided Wednesday in the appearance of a …. Source article  : Analysis: Globalization turned on its head, cultures collide with Toyoda testimony on recalls.

NBA commissioner David Stern expects Michael Jordan to be approved as owner of Bobcats

Stern expects Jordan to be approved as owner

CHARLOTTE, N.C. – NBA commissioner David Stern expects Michael Jordan to be approved as majority owner of the Charlotte Bobcats by the end of next month.
Stern released a statement Saturday saying he was “pleased” the former NBA superstar had reached a deal to buy the money-losing team from …. Source article  : NBA commissioner David Stern expects Michael Jordan to be approved as owner of Bobcats.

Pranab Mukherjee looks to promising financial year

NEW DELHI – Union Finance Minister Pranab Mukherjee on Saturday admitted that the last two years have been tough for the country’s economy, as he inaugurated 82nd annual session of the Federation of Indian Chambers of Commerce and Industry (FICCI) in the national capital.

A … Read more »».

ALL BUSINESS: Former executives snag lucrative consulting deals at their old companies

ALL BUSINESS: Big pay for CEOs turning consultants

NEW YORK – Tough job market? Not for corporate honchos who snag cushy consulting deals at their former companies for $3,000 an hour.
That’s what General Motors is paying Fritz Henderson – the same guy the struggling automaker ousted three months ago because he wasn’t doing a good enough …. Original article on Gaea Times at  : ALL BUSINESS: Former executives snag lucrative consulting deals at their old companies.

Academy ponders action against ‘Locker’ producer who sent e-mails soliciting Oscar votes

‘Lockergate’?: Producer apologizes for e-mails

LOS ANGELES – The Academy of Motion Picture Arts and Sciences is considering action against a producer of “The Hurt Locker” who sent multiple e-mails urging academy members to vote for his movie in the Oscar best-picture race and “not a $500 million film” – an obvious reference to close-competitor “Avatar.”
The …. Source article on Gaea Times at  : Academy ponders action against ‘Locker’ producer who sent e-mails soliciting Oscar votes.

Killer whales perform for 1st time at SeaWorld since orca killed veteran trainer during show

Whales perform for 1st time since trainer’s death

ORLANDO, Fla. – More than 2,000 people watched killer whales perform Saturday at SeaWorld for the first time since one of the orcas dragged a trainer to her death underwater in front of horrified spectators three days ago.
The audience seemed thrilled, applauding and cheering as the whales zipped … Read this article on Gaea Times at : Killer whales perform for 1st time at SeaWorld since orca killed veteran trainer during show.