India’s exports rise 11.5 percent in January

NEW DELHI – India’s merchandise exports grew 11.5 percent to $14.34 billion (Rs.65,920 crore) for the third consecutive month in January, according to data released by the ministry of commerce Tuesday.

The rise for the third straight month in January comes after 13 successive months of decline since October 2008 on account of the global economic …. Source  : India’s exports rise 11.5 percent in January.

Sensex moves up 2 percent in afternoon trade

MUMBAI – A benchmark index for Indian equities further built on its morning gains and was ruling over two percent higher about an hour before end of trade.

Auto stocks were among the key drivers of this rally with many such companies posting handsome February sales figures.
At 2.18 p.m. the 30-scrip sensitive index (Sensex) …. Source  : Sensex moves up 2 percent in afternoon trade.

Consumer Watchdog sues Anthem Blue Cross alleging diminished coverage in policy changes

Consumer group sues insurer over policy changes

LOS ANGELES – Mary Feller’s family of three spends nearly $25,000 a year on health insurance premiums, which is more than they pay on their home’s mortgage in California’s Marin County.
“I think for the first time we’re really scared that we’re going to be without health insurance,” she said. … Read more >>>.

NALCO gets state government nod for new bauxite mine

BHUBANESWAR – Orissa has given its nod for leasing a new bauxite mine in the state’s Koraput district to state-owned National Aluminium Company Ltd (NALCO), an official said Tuesday.

The state government has leased the Potangi bauxite mine to the company and recommended it to the central government for final approval, state Steel and Mines Secretary … Original source on Gaea Times at : NALCO gets state government nod for new bauxite mine.

Switzerland records second straight quarter of economic expansion in last 3 months of 2009

Swiss economy grows 0.7 percent in 4th quarter

GENEVA – The Swiss economy recorded a second consecutive quarter of growth in the last three months of 2009, expanding by 0.7 percent, the government said Tuesday.
The national economics secretariat said the quarterly growth in the October-December period came as exports continued to outpace imports and consumption and … Read more »»».

General Motors to more than triple funding for restructuring at Opel, Vauxhall

GM to triple funding for Opel restructuring

FRANKFURT – General Motors Co. said Tuesday it would more than triple its funding for the turnaround of European units Opel and Vauxhall to euro1.9 billion ($2.6 billion).
General Motors had initially pledged euro600 million and hoped to get some euro2.7 billion in European government funding for the restructuring of …. Original article  : General Motors to more than triple funding for restructuring at Opel, Vauxhall.

Ireland’s largest bank AIB suffers first-ever full-year loss of $3.25 bln as bad debts soar

Irish bank AIB suffers $3.25B loss in 2009

DUBLIN – Ireland’s largest financial institution, Allied Irish Banks PLC, reported its first-ever full-year loss Tuesday as bad debts soared amid the recession.
AIB said it suffered a net loss of euro2.4 billion ($3.25 billion) in 2009, compared to a euro772 million profit the previous year.
The banking group’s income … Read the original article on Gaea Times at : Ireland’s largest bank AIB suffers first-ever full-year loss of $3.25 bln as bad debts soar.

Maruti Suzuki creates February reord in sales

NEW DELHI – Car market leader Maruti Suzuki India Limited sold a total of 96,650 vehicles in February 2010.

This includes 11,885 units of exports. This is the highest ever total monthly sales in the company’s history (previous highest 95,649 units in January 2010).
The company had sold a total of 79,190 vehicles in February 2009.
In February … Read the original article on Gaea Times at : Maruti Suzuki creates February reord in sales.

Consumer agency eyed for the Fed; possible deal could break stalemate on Wall Street regs

Senate talks close in on deal for Wall Street regs
WASHINGTON – More than a year after Lehman Brothers’ collapse set off a financial panic, Senate negotiators appear close to resolving a narrow dispute that was holding up broad legislation to set new rules for Wall Street.
At issue was whether a government consumer watchdog …. Read the original article  : here.

HEALTHBEAT: Inflammation may be key to breaking fat-and-disease connection

Scientists try to break fat-and-disease link

WASHINGTON – What if you could be fat but avoid heart disease or diabetes? Scientists trying to break the fat-and-disease link increasingly say inflammation is the key.
In the quest to prove it, a major study is under way testing whether an anti-inflammatory drug – an old, cheap cousin of aspirin …. Original source  : HEALTHBEAT: Inflammation may be key to breaking fat-and-disease connection.

Obama must win over undecided Dems with revised health overhaul proposal

Obama looks to undecided Dems for health backing
WASHINGTON – A small number of House Democrats who opposed health overhaul legislation on the first go-round may be President Barack Obama’s most important constituency when he unveils a revised proposal on Wednesday.
At least nine of the 39 Democrats who voted “nay” …. Read the original article  : here.

General Motors to recall 1.3 mn cars in North America

DETROIT – General Motors Co will recall 1.3 million cars of its Chevrolet and Pontiac brands from customers across the US, Canada and Mexico, according to news reports.

Problems with the power steering in the Chevrolet compact model Cobalt and several Pontiac models could cause difficulties in manoeuvring the vehicles at low speed, Bloomberg news agency … Original article on : General Motors to recall 1.3 mn cars in North America.

China official: City ‘inconsiderate’ for publicizing beans tainted by toxic pesticide

China official wanted toxic bean case hushed up

BEIJING – The discovery in Chinese markets of tons of beans treated with a highly toxic pesticide has prompted an indignant response from an official responsible for the safety of the produce, despite a public outcry over recent food safety scandals.
One city’s decision to publicize the problem was … Read more >>.

540 MW power plant to start soon: Abhijit Group

RANCHI – A 540 MW thermal power plant of the Abhijit Group will become operational by the end of next year, an official said Tuesday.

The group is setting up two units of the plant in Chandawa block of Latehar district in Jharkhand.
The official said the first unit was coming up at a cost … Read more : 540 MW power plant to start soon: Abhijit Group.

Hyundai sales up 42.8 percent in February

NEW DELHI – India’s second largest car maker Hyundai Motor reported a 42.8 percent increase in total sales last month to 54,617 units as against 38,235 units sold in February 2009.

During February, domestic sales grew 46.1 percent to 31,001 units while exports rose 38.8 percent to 23,616 vehicles.
The sales continue on a strong pitch … Read more »».

Boeing executive to help find investment opportunities in India

WASHINGTON – The US-India Business Council (USIBC) has named Shephard W. (Shep) Hill, a senior Boeing executive, as a director to help provide strategic direction for US and Indian companies seeking bilateral investment opportunities and partnerships.

The trade advocacy association seeking stronger commercial ties with India Monday announced the appointment of Hill, president of Boeing International … Read this article on Gaea Times at : Boeing executive to help find investment opportunities in India.

Senate investigators’ Toyota connections at a glance

Senate investigators’ ties to Toyota
Several senators on the Commerce, Science and Transportation Committee, which is holding a hearing Tuesday to investigate Toyota’s safety issues and recall, have connections to the Japanese automaker.
Here is a look at the committee’s ties to Toyota and other automakers:
-Chairman Jay Rockefeller, D-W.Va.: The Senate’s lead Toyota investigator has … Read more : Senate investigators’ Toyota connections at a glance.

Iraq’s Nouri al-Maliki builds his political future on country’s mega oil deals

Iraq’s oil deals dominate PM election campaign

BASRA – Backed by armed bodyguards, international oil executives have flocked to this southern Iraqi city to survey their potentially lucrative prizes: the fields that it is hoped will one day dramatically increase output of cheap, plentiful crude.
For their companies, the fields that they won the rights to develop …. Source article on Gaea Times at  : Iraq’s Nouri al-Maliki builds his political future on country’s mega oil deals.

Maruti Suzuki sales up 22 percent

NEW DELHI – India’s largest car manufacturer Maruti Suzuki Tuesday reported a 22 percent rise in sales in February to 96,650 vehicles — its best performance till date.

“This is the highest ever total monthly sales in the companys history (previous highest 95,649 units in January 2010),” said a company statement.
The company’s domestic sales during [..] Read the original article: here.

Trinamool, DMK wait for meeting with Congress on fuel price hike

NEW DELHI – Two major constituents of the ruling United Progressive Alliance (UPA), the Trinamool Congress and the DMK, were Tuesday waiting for the outcome of their meeting with the Congress leadership to decide what stand they would take on the fuel price hike.

“The Congress leadership and the finance minister have already announced that the …. Original article  : Trinamool, DMK wait for meeting with Congress on fuel price hike.