Canara HSBC Oriental Life to infuse Rs.300 crore

CHENNAI – The Canara HSBC Oriental Bank of Commerce Life Insurance Company has decided to infuse Rs.300 crore this fiscal for operational expansion.

Post-infusion, the company’s equity will shoot up to Rs.925 crore, the company said Tuesday.
Canara HSBC Oriental Life is a three-way joint venture between Canara Bank, Oriental Bank of Commerce and HSBC Insurance …. Original source  : Canara HSBC Oriental Life to infuse Rs.300 crore.

Dubai records over $14 bn worth of direct exports in 2009

Dubai, April 13 (IANS/WAM) Dubai has recorded direct exports worth 52.4 billion UAE dirhams (over $14 billion) in 2009, up by 22.9 percent compared to 2008, while imports and re-exports declined by 27.9 and 8.6 percent, respectively.

The statistics were published in the Dubai Export Monitor 2010 by Dubai Export Development Corporation (EDC) Monday. … Original article on : Dubai records over $14 bn worth of direct exports in 2009.

Japanese Airline Amakusa adopts IBS solution

THIRUVANANTHAPURAM – Japanese airline Amakusa has implemented city-based IBS Software Services’ IT solution “iFly Res” for its passenger reservation system, the IBS group said Tuesday.

V.K. Mathews, IBS chairman, said the company’s new generation solutions help airlines break away from legacy systems and cut their cost of operations, enhance efficiency and improve revenue.
“Amakusa’s confidence in … Original article on : Japanese Airline Amakusa adopts IBS solution.

Infosys revenue to grow in double digit in 2011 (Second Lead)

BANGALORE – Emerging from a year of worst economic slump and technology meltdown, Infosys Technologies Tuesday projected double digit revenue growth for fiscal 2010-11 despite currency volatility and higher wage bill.

India’s second largest IT bellwether said it expected its consolidated income to grow 10 percent on average to Rs.25,017 crore (Rs.250 billion) by this fiscal … Read more : Infosys revenue to grow in double digit in 2011 (Second Lead).

India will grow 8.2 per cent in 2010: ADB

MANILA – India will grow 8.2 percent in 2010 and 8.7 percent in 2010 but rising inflation will bog the country’s policy makers, the Asian Development Bank (ADB) said Tuesday.

An improving global environment, rising private consumption and investment are likely to underpin growth over the next two years, said the multilateral lending agency in … Original article on : India will grow 8.2 per cent in 2010: ADB.

Union official: Andy Stern to step down as president of Service Employees International Union

Union official: Stern to leave Service Employees
WASHINGTON – One of nation’s most politically powerful – and polarizing – union leaders is preparing to step down from his post.
Andy Stern, president of the 2.2 million-member Service Employees International Union, plans to resign, a senior union official told employees in an e-mail on Monday.
The message …. Original article  : Union official: Andy Stern to step down as president of Service Employees International Union.

Missouri billionaire Stan Kroenke makes surprise bid to purchase 100 percent of Rams

Billionaire Kroenke to try and buy rest of Rams

ST. LOUIS – Missouri billionaire Stan Kroenke has decided to exercise his matching rights and try to purchase the remaining 60 percent share of the St. Louis Rams.
Kroenke made the announcement late Monday, the deadline for him to make this decision.
Illinois businessman Shahid Khan reached agreement with … Read more >>.

SPIN METER: Lawmakers haul in ‘pork’ while blasting government spending

SPIN METER: Congress’ pork: advocacy or hypocrisy?
HUNTSVILLE, Ala. – It’s early on a Monday in north Alabama’s “space city,” and Sen. Richard Shelby is bashing Washington at a packed town hall meeting in the cavernous U.S. Space and Rocket Center.
“We’re spending a lot of money that we don’t have,” the veteran Republican tells …. Read the original article  : SPIN METER: Lawmakers haul in ‘pork’ while blasting government spending.

GOP candidate hopes contest for open US House seat is referendum on Obama, health care

GOP hopes for upset in Fla. US House election
WEST PALM BEACH, Fla. – Republican Ed Lynch hopes public disdain for President Barack Obama’s health care plan and low congressional approval ratings will help him upset his Democratic opponent in Tuesday’s special U.S. House election.
The South Florida contest between Lynch and Democratic state … Original source on Gaea Times at : GOP candidate hopes contest for open US House seat is referendum on Obama, health care.

Asian Development Bank: Regional growth to rebound to 7.5 percent, economies need to adjust

ADB: Asia economies rebound, need to adjust policy

MANILA, Philippines – The Asian Development Bank raised its regional growth forecast this year from 6.6 percent to 7.5 percent on Tuesday but warned that governments need to adjust policies to avoid shocks that could hamper their recovery.
China is forecast to grow by 9.6 percent, after last year’s … Original source on Gaea Times at : Asian Development Bank: Regional growth to rebound to 7.5 percent, economies need to adjust.

Peace with Israel brings dividends, but Jordan still trying to spread the wealth

Business with Israel pays off in Jordan
IRBID, Jordan – Manager Rami Kurdi snapped off a quick celebratory salute to his workers as the factory’s bell rang, marking the completion of the day’s 1,000th tracksuit in record time.

For Kurdi and the employees at the Century Standard Textile plant, one of several that manufacture clothing for top …. Source article  : Peace with Israel brings dividends, but Jordan still trying to spread the wealth.

Sign free trade pact with India: Dhaka economists

DHAKA – Bangladesh should sign a Free Trade Agreement (FTA) with India, two Bangladeshi economists have recommended.

They cited the success of India’s FTA with Sri Lanka and the latter’s FTA with Pakistan at a seminar here Monday.
Khandaker Ibrahim Khaled, former deputy governor of Bangladesh Bank, and Selim Raihan, editor of Bangladesh Economic Outlook, … Original article on : Sign free trade pact with India: Dhaka economists.

Infosys to pay 300 percent final dividend to investors

BANGALORE – Recovering from a worst economic slump, a resilient Infosys Technologies Ltd Tuesday proposed to pay a final dividend of Rs.15 per share or 300 percent on par value of Rs.5 per share for fiscal 2009-10.

In a regulatory filing, the IT bellwether said its board of directors had recommended a final dividend of Rs.15 … Read more >>.

Goan origin Fernandes has pan-India aspiration for his AirAsia

KUALA LUMPUR – Malaysian no frills carrier AirAsia, owned by a prominent entrepreneur of Goan origin Anthony “Tony” Francis Fernandes, will add six more flights to India this year to tap the growing traffic.

Flights from Penang to Kolkata will start April 28 and from Kuala Lumpur to Mumbai May 6, followed by Kuala Lumpur-Chennai, Kuala … Original source on Gaea Times at : Goan origin Fernandes has pan-India aspiration for his AirAsia.

Separatist shutdown cripples life in Srinagar

SRINAGAR – Life in Srinagar ground to a halt Tuesday in response to a shutdown called by the hardline faction of Jammu and Kashmir’s Hurriyat Conference against the conviction of six Kashmiris in New Delhi’s Lajpat Nagar bombing case.

Public transport was off the roads and shops, educational institutions, banks and other business establishments were closed …. Read the original article  : here.

Others see growth in Bangladesh, local experts don’t

DHAKA – Global financial and credit rating agencies have drawn a positive picture of Bangladesh’s economy, but domestic experts see signs of stagnation and slowdown in investment.

The International Monetary Fund (IMF) Monday said Bangladesh’s economy would grow by 5 percent in the current fiscal because of sluggish export growth.
Credit rating agency Moody’s Investors Service … Read the original article on Gaea Times at : Others see growth in Bangladesh, local experts don’t.

Kazakh president invites Manmohan to regional summit

WASHINGTON – Kazakhstan, the oil-rich Central Asian country, has offered India a new oil block and invited Indian Prime Minister Manmohan Singh to attend a regional summit it is co-hosting with Turkey in June.

Manmohan Singh met Kazakh President Nursultan Nazarbayev Sunday and discussed a host of issues, including greater cooperation in hydrocarbons and infrastructure.
Nazarbayev … Read more : Kazakh president invites Manmohan to regional summit.

Infosys projects double digit growth for fiscal 2011

BANGALORE – Infosys Technologies Ltd Tuesday projected a double digit growth for new fiscal (2010-11) on signs of global economic recovery and robust growth in IT spending.

In a regulatory filing, the IT bellwether said it expected its consolidated income to grow by 10 percent on average to Rs.25,017 crore (Rs.250 billion) by this fiscal end …. Source  : Gaea News Network.

Asian shares fall as investors eye first quarter GDP, US company earnings

Asian shares fall as yearlong rally takes breather

SINGAPORE – Asian stock markets mostly fell Tuesday as investors questioned whether the global economic recovery can support further gains to the yearlong equities rally.
Japan’s Nikkei 225 led decliners, down 0.8 percent to 11,161.23. Australia fell 0.7 percent, Malaysia slid 0.4 percent, India dropped 0.3 percent and Singapore … Read : Asian shares fall as investors eye first quarter GDP, US company earnings.

Infosys net up four percent for fiscal 2010

BANGALORE – Infosys Technologies Ltd posted a net profit of Rs.6,219 crore (Rs.62.19 billion) for fiscal 2009-10, registering a marginal increase of four percent year-on-year (YoY) from Rs.5,975 crore (Rs.59.75 billion).

In a regulatory filing Tuesday, the IT bellwether said its consolidated income for the entire fiscal under review (FY 2010) grew by 4.84 percent to … Read the original article on Gaea Times at : Infosys net up four percent for fiscal 2010.