EU economy commissioner says Greece will not default on debt, warns of eurozone deflation

EU official says Greece will not default on debt

BRUSSELS – The European Union’s economy commissioner says Greece will not default on its mounting debt.
Olli Rehn told a Thursday conference that “default is not an issue. There will be no default.”
Financial markets are charging higher interest rates for Greek bonds because they believe the country may … Original article on : EU economy commissioner says Greece will not default on debt, warns of eurozone deflation.

Food inflation drops marginally to 17.22 percent

NEW DELHI – India’s annual food inflation dropped marginally to 17.22 percent for the week ended April 3 from 17.7 percent a week before even as prices of milk, fruits and lentils rose during the period under review, data showed Thursday.

Data on the wholesale price index released by the commerce and industry ministry showed the [..] Read the original article: here.

Orissa seeks neighbours’ help to check illegal mining

BHUBANESWAR/RANCHI – Orissa has sought cooperation of neighbouring states to check illegal mining and proposed a joint task force with Jharkhand to combat the practice.

“Illegal mining is going on in all mineral-rich states. All such states should jointly work to prevent it,” Orissa’s Steel and Mines Minister Raghunath Mohanty told IANS Thursday.
Chief …. Original article on Gaea Times at  : Orissa seeks neighbours’ help to check illegal mining.

Tipu’s sword fetches 500,000 pounds in auction

LONDON – Seven years after Indian liqour baron Vijay Mallya bought a sword of Tipu Sultan, a majestic sabre of the Mysore king fetched 505,250 pounds at a Sotheby’s auction here.

The 200-year-old sword was estimated to go under the hammer for 50,000-70,000 pounds. It eventually sold Wednesday at nearly 10 times that estimate.
According …. Read the original article  : Tipu’s sword fetches 500,000 pounds in auction.

Triveni in joint venture with GE to produce steam turbines

MUMBAI – U.S. multinational General Electric’s energy arm and Indian engineering firm Triveni Thursday announced a joint venture, GE Triveni, to manufacture, sell and service steam turbines of 30-100 MW capacity in India.

“GE Oil & Gas, through one of its affiliates (GE Pacific Mauritius) and Triveni Engineering have signed an agreement to design, manufacture, supply, … Read the original article on Gaea Times at : Triveni in joint venture with GE to produce steam turbines.

Oil hovered below $85 as investors eye Asian economic growth, US demand recovery

Oil hovered below $85 amid Asian, US demand growth

SINGAPORE – Oil prices hovered below $85 a barrel Thursday in Asia amid signs global crude demand is growing.
Benchmark crude for May delivery was down 2 cents to $85.82 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract … Original source on Gaea Times at : Oil hovered below $85 as investors eye Asian economic growth, US demand recovery.

X-Axis: The Indian way of doing business

WASHINGTON – A uniquely ‘Indian way’ of doing business, which has fuelled an economy that even in perilous global times remains a dynamo, is essentially based on a simple philosophy – “think in English and act in Indian”, say four Wharton professors.

The professors of management at the Wharton School of the University of Pennsylvania have …. Source  : Gaea News Network.

Tea party leaders try to keep tax day rallies from portraying image of extremists

Tea party leaders anxious about extremists
JEFFERSON CITY, Mo. – Organizers of tax-day tea parties are preparing for their biggest day of the year Thursday, as thousands of demonstrators participate in local rallies against high taxes and big government spending. But the leaders are striving to keep the rallies from presenting another image: one … Original article on : Tea party leaders try to keep tax day rallies from portraying image of extremists.

Sensex gives up morning gains

MUMBAI – A key Indian equities index gave up its morning gains and was ruling flat in afternoon trade Thursday.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened at 17,804.55 points and was ruling at 17,839.36 points, up 0.1 percent from its previous close at 17,821.96 points.
At the National …. Source  : Gaea News Network.

Danone says strong European demand for dairy goods drove 8.3 percent gain in 1st quarter sales

Danone reports 8.3 percent rise in 1Q sales

PARIS – French dairy and bottled water company Groupe Danone SA on Thursday reported strong growth in first quarter sales as demand for its yogurts in France and across Europe helped offset consumers’ switch to lower priced options.
The Paris-based maker of Evian mineral water and Activia yogurt reported …. Original article  : Danone says strong European demand for dairy goods drove 8.3 percent gain in 1st quarter sales.

Wharton management gurus sing India’s success mantra

WASHINGTON – A uniquely ‘India way of doing business’, which has fuelled an economy that even in perilous global times remains a dynamo, is essentially based on a simple philosophy – “think in English and act in Indian”, say four US professors.

The professors of management at the Wharton School of the University of Pennsylvania have … Original article on : Wharton management gurus sing India’s success mantra.

Punjab power board workers on strike, security deployed

CHANDIGARH – Over 65,000 employees of the Punjab State Electricity Board (PSEB) went on a two-day strike from Thursday midnight leading to tension in several parts of the state and heavy deployment of police and paramilitary personnel to ward off trouble.

The administration also imposed orders prohibiting people from gathering in groups and carrying weapons in … Read : Punjab power board workers on strike, security deployed.

India’s annual inflation rises 9.9 percent in March

NEW DELHI – Driven primarily by higher food prices, India’s annual rate of inflation, based on the wholesale prices index, went up marginally to 9.9 percent in March from 9.89 percent a month ago, official data showed Thursday.

The annual inflation rate was 1.2 percent in March 2009.
The data released by the commerce ministry …. Original source  : India’s annual inflation rises 9.9 percent in March.

Jewellery auction market shows signs of recovery

NEW DELHI – The jewellery auction market that slumped under the impact of financial meltdown is showing signs of recouping with increasingly discerning and confident buyers bidding for jewellery.

The spring online auction of jewellery Wednesday at the Mumbai-based online art auction house, Saffronart, registered an increase of 35 percent over last year’s sale. … Original source on Gaea Times at : Jewellery auction market shows signs of recovery.

Presidential Kennedy Space Center visits at a glance

Presidential visits to Kennedy Space Center
Barack Obama is making the first presidential stop at NASA’s Kennedy Space Center in Cape Canaveral, Fla., in more than a decade. A look at presidential visits:
April 15, 2010: Barack Obama attends space conference.
Oct. 29, 1998: Bill Clinton visited for Sen. John Glenn’s space shuttle launch.
Oct. 1, 1978: … Read more »»».

FACT CHECK: GOP attack on Wall Street oversight bill has been heard before _ from Democrats

FACT CHECK: An echo is heard in Wall Street debate

WASHINGTON – Republicans say White House-backed legislation to oversee the financial industry would lead to more government bailouts. Democrats say that won’t happen. So who’s right?
No one can be sure. But in this case, some key Republican arguments are supported by many on the left, right … Read the original article on Gaea Times at : FACT CHECK: GOP attack on Wall Street oversight bill has been heard before _ from Democrats.

SUPREME COURT NOTEBOOK: Broadcasters denied quick release of audio for high-profile case

No audio for broadcasters in Supreme Court case

WASHINGTON – For the first time in four years, the Supreme Court has gone an entire term without granting the quick release of audio recordings of high-profile arguments.
The court said Wednesday it has rejected a request from four broadcasters for the same-day audio in an important First Amendment …. Read the original article  : SUPREME COURT NOTEBOOK: Broadcasters denied quick release of audio for high-profile case.

Senate ready to pass $18 billion jobless benefits bill for those unemployed at least 6 months

Senate to take up $18B jobless benefits bill

WASHINGTON – A measure restoring jobless benefits to people struggling to find work is back on track in the Senate.
The $18 billion measure could pass Thursday and prevent even more people whose 26 weeks of state-paid benefits have run out from losing an average of $335 a week …. Original article on Gaea Times at  : Senate ready to pass $18 billion jobless benefits bill for those unemployed at least 6 months.

AP-GfK Poll: Surprising jump in opposition to Obama’s health care law after he signs it

AP-GfK Poll: Jump in opposition to health care law
WASHINGTON – Opposition to President Barack Obama’s health care law jumped after he signed it – a clear indication his victory could become a liability for Democrats in this fall’s elections.
A new Associated Press-GfK poll finds Americans oppose the health care remake 50 percent to … Original source on Gaea Times at : AP-GfK Poll: Surprising jump in opposition to Obama’s health care law after he signs it.

2009 saw end of Third World, says Zoellick

WASHINGTON – The world has entered a new multi-polar economic order and 2009 saw the end of what was known as the Third World, World Bank president Robert B. Zoellick has said.

“It’s time we recognise the new economic parallel. The outdated categorisation of First and Third Worlds, donor and supplicant, leader and led, no longer … Read this article on Gaea Times at : 2009 saw end of Third World, says Zoellick.