Monday, March 22, 2010

Business News – Newsletter for March 22, 2010

Monday, March 22, 2010


Palestinian whistleblower creates a stir, keeps public debate focused on corruption

Anti-corruption campaigner is headache for Abbas

RAMALLAH, West Bank – After getting a top Palestinian official suspended over an embarrassing sex tape, self-styled anti-corruption campaigner Fahmi Shabaneh feels unstoppable.
The former Palestinian intelligence agent is already zooming in on his next targets, including his former boss and a top Islamic court judge. He also set up a …. Source article  : Palestinian whistleblower creates a stir, keeps public debate focused on corruption.

No new taxes in Tamil Nadu’s deficit budget for 2010-11

CHENNAI – Tamil Nadu Finance Minister K. Anbazhagan Friday presented a deficit budget for fiscal 2010-11 in which he proposed no new taxes, reduced tax rates on many items and announced the creation of a separate department for the differently abled.

“The total revenue receipts of the government for 2010-11 are estimated at Rs.63,091.74 crore and …. Source article  : No new taxes in Tamil Nadu’s deficit budget for 2010-11.

Obama: Congress ‘answered the call of history’ in passing health insurance reform

Obama lauds House for passing health care bill
WASHINGTON – Capping a long day and a consuming political journey, President Barack Obama celebrated the passage of health care legislation with hugs, high fives and an emboldened attitude. Said the president to the nation, “Tonight, we answered the call of history.”
At nearly midnight in Washington, …. Source  : Obama: Congress ‘answered the call of history’ in passing health insurance reform.

House Democrats send historic health bill to President Obama; action shifts to Senate

House sends health care overhaul bill to Obama
WASHINGTON – A transformative health care bill is headed to President Barack Obama for his signature as Congress takes the final steps in Democrats’ improbable and history-making push for near-universal medical coverage.
On the cusp of succeeding where numerous past congresses and administrations have failed, jubilant …. Source article  : House Democrats send historic health bill to President Obama; action shifts to Senate.

Pranab Mukherjee to inaugurate Reserve Bank/ OECD seminar in Bangalore

BANGALORE – Finance Minister Pranab Mukherjee will on Monday inaugurate an International workshop on ‘Financial Literacy’ in Bangalore.

The two-day workshop has been organized by the Reserve Bank of India (RBI) and Organisation for Economic Cooperation and Development … Read more : Pranab Mukherjee to inaugurate Reserve Bank/ OECD seminar in Bangalore.

Pranab sticks to 7.2 percent growth in 2009-10

BANGALORE – Finance Minister Pranab Mukherjee Monday said the government was sticking to an estimated 7.2 percent growth rate for this fiscal (2009-10) and 8.5 percent for 2010-11.

“I have given some indication in the budget speech and the economic survey. So far as this year is concerned, we are sticking to 7.2 percent GDP (Gross … Read more : Pranab sticks to 7.2 percent growth in 2009-10.

Shimla, Hamirpur to go solar

SHIMLA – The Himachal Pradesh government has decided to make Shimla and Hamirpur solar-powered cities as part of a drive to save electricity.

“We are developing Shimla and Hamirpur as solar cities with the assistance of the central government,” Chief Minister Prem Kumar Dhumal told IANS, adding that more cities and towns would be later included … Read more »»».

FM inaugurates RBI-OECD International Workshop on Financial Literacy

To mark the Platinum Jubilee Year, the Reserve Bank of India, in coordination with the Organisation for Economic Co-Operation and Development (OECD) organised an International Workshop on “Delivering Financial Literacy” at Bengaluru on March 22, 2010. The two day international workshop was organised to advance and elevate policy dialogue …. Original source  : FM inaugurates RBI-OECD International Workshop on Financial Literacy.

Many jobs lost as farmers in Mississippi Delta switch from cotton to more profitable corn

As farmers move from cotton to corn, jobs are lost

LUBBOCK, Texas – Fields of white cotton once stretched as far as the eye could see across the fertile Mississippi Delta, but now many of those acres are flush with green corn stalks.
U.S. cotton production peaked in 2005 and has been sliding since as farmers switch …. Source  : Gaea News Network.

Sensex crawls up after weak start

MUMBAI – A benchmark index for Indian equities Monday was trying to pare its early morning losses and was ruling 28 points lower a couple of hours into trade.

The markets had begun the day with a negative bias after the Reserve Bank of India’s Friday evening decision to hike key policy rates by 25 … Read more »»».

L&T to build 36 high speed boats for coast guard

MUMBAI – Infrastructure construction major Larsen & Toubro (L&T) will design and construct 36 high speed interceptor boats worth Rs.970 crore for the Indian Coast Guard, the company announced here Monday.

The contract, awarded by the defence ministry, is one of the initiatives of the government to strengthen coastal security.
The interceptor boats will have aluminium-alloy … Original article on : L&T to build 36 high speed boats for coast guard.

Punjab industrialists fume over 58-hour weekly power-cut

MOHALI – Factory owners in this industrial belt have asked Punjab Chief Minister Parkash Singh Badal to intervene after a recent communication from the Punjab State Electricity Board (PSEB) on a 58-hour compulsory weekly power-cut.

Mohali Industries Association (MIA) received the PSEB circular Saturday.
“The circular is a big set-back for industries in Mohali. The power …. Source article  : Punjab industrialists fume over 58-hour weekly power-cut.

Organic veggies to make good business for Himachal hotels

SHIMLA – Guests at two top hotels run by Himachal Pradesh Tourism can soon savour fresh, organically-cultivated vegetables on the menu. What’s more, these will be grown in kitchen gardens on the premises, making for good business.

“We are developing kitchen gardens at Chail Palace hotel at Chail and Hotel Pinewood at Barog to grow vegetables … Original article on : Organic veggies to make good business for Himachal hotels.

President Barack Obama’s remarks on health care overhaul

President Obama’s remarks on health care overhaul
President Barack Obama’s remarks on health care overhaul, delivered Sunday after the House passed the legislation:
Good evening, everybody. Tonight, after nearly 100 years of talk and frustration, after decades of trying, and a year of sustained effort and debate, the United States Congress finally declared …. Source  : President Barack Obama’s remarks on health care overhaul.

Obama: Health care bill a victory for American people, common sense

Obama: Health care bill a victory for Americans
WASHINGTON – President Barack Obama says the health care legislation passed Sunday night by the House is “a victory for the American people” and “a victory for common sense.”
The bill “will not solve every problem” in the health care system, Obama says, but “moves us in … Read the original article on Gaea Times at : Obama: Health care bill a victory for American people, common sense.

Asia stocks slide as Greek debt crisis, India rate hike rattle investors; HK down nearly 2 pct

Asia stocks drop as Greek crisis, India hike weigh

HONG KONG – Asian stock markets fell Monday as worries about Greece’s debt crisis and India’s sudden interest rate hike rattled investors.
Major indexes were down as much as 2 percent after selling hit U.S. and European markets on Friday. Oil prices fell toward $80 a barrel, while …. Source  : Asia stocks slide as Greek debt crisis, India rate hike rattle investors; HK down nearly 2 pct.

Money Market Operations as on March 19, 2010

…. Original article  : Money Market Operations as on March 19, 2010.

Obama’s health plan, less audacious than it might have been, still among history’s bold acts

Obama achieves health law success that eluded past
WASHINGTON – Rarely does the government, that big, clumsy, poorly regarded oaf, pull off anything short of war that touches all lives with one act, one stroke of a president’s pen. Such a moment has come.
After a year of riotous argument, decades of failure …. Original source  : Obama’s health plan, less audacious than it might have been, still among history’s bold acts.

Congress clear historic health care bill, sends it to Obama for his signature

Congress clears historic health care bill
WASHINGTON – Summoned to success by President Barack Obama, the Democratic-controlled Congress approved historic legislation Sunday night extending health care to tens of millions of uninsured Americans and cracking down on insurance company abuses, a climactic chapter in the century-long quest …. Source  : Gaea News Network.

Congress approves historic health care bill, sends measure to Obama

Congress approves historic health care legislation
WASHINGTON – The Democratic-controlled Congress has approved historic legislation extending health care to tens of millions of Americans who lack it and cracking down on insurance company abuses.
The vote in the House was 219-212. Republicans were unanimously opposed. The bill now goes to President Barack Obama for his … Original article on : Congress approves historic health care bill, sends measure to Obama.

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