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.