NTPC net profit rises 5.6 percent

NEW DELHI – The country’s largest power generator, NTPC, Friday reported a 5.6 percent rise in net profits for the year ended March at Rs.8,660 crore, up from Rs.8,200 crore in the previous fiscal.

The company, which added 1,560 MW of power generation capacity in the last fiscal, plans to add 4,150 MW in the current … Original source on Gaea Times at : NTPC net profit rises 5.6 percent.

India’s fuel subsidies don’t help poor, says expert

WASHINGTON – India’s fuel subsidies don’t actually help poor households but instead benefit those who can afford to own vehicles and electrical appliances, according to a leading expert.

“When the price of crude oil jumped a few years ago, the Indian government was stuck paying the difference between the regulated price to consumers and the actual …. Source  : India’s fuel subsidies don’t help poor, says expert.

NATO chief says Afghan war effort improving as allies aim to begin winding it down in 2011

Allied leader says Afghan war effort now on track
TALLINN, Estonia – NATO’s top official said Friday the 28-nation alliance is on track with its new strategy for winding down the war in Afghanistan next year, despite security setbacks and a continuing shortage of foreign trainers for the fledgling Afghan police and army.
NATO Secretary … Original article on : NATO chief says Afghan war effort improving as allies aim to begin winding it down in 2011.

CCEA approves Rs.632 crore for National Horticulture Board

NEW DELHI – The Cabinet Committee on Economic Affairs (CCEA) Friday approved Rs.632 crore for the National Horticulture Board to implement its existing schemes and promote 25,000 integrated commercial horticulture projects in the 11th plan period ending 2012.

“It is expected that with the budgetary support during the 11th Five Year Plan, additional infrastructure for post-harvest, …. Source article  : CCEA approves Rs.632 crore for National Horticulture Board.

UK first-quarter GDP grows 0.2 percent from previous 3 months, weaker than analyst forecasts

UK economy grows 0.2 pct in Q1, below forecasts

LONDON – Britain’s economy grew 0.2 percent during the first quarter of the year, official statisticians said Friday, extending the nation’s recovery from recession but disappointing expectations of a stronger rise.
The Office for National Statistics said growth continued in the January to March quarter compared with the …. Original article  : UK first-quarter GDP grows 0.2 percent from previous 3 months, weaker than analyst forecasts.

Germany’s Ifo business confidence survey rises to 101.6 points in April

German business confidence edges higher again

BERLIN – A closely watched survey shows German business confidence improved in April, its second such increase in as many months.
The Munich-based Ifo Institute said Friday its business climate index rose to 101.6 points from a revised 98.2 points in March.
Ifo President Hans Werner Sinn says that German companies are …. Original article on Gaea Times at  : Germany’s Ifo business confidence survey rises to 101.6 points in April.

Rs.305.34 crore plan to clean Ganga at Allahabad approved

NEW DELHI – A Rs.305.34 crore proposal to clean up river Ganga at Allahabad in Uttar Pradesh where river Yamuna converges with it was approved by the Cabinet Committee on Economic Affairs (CCEA) Friday.

“The CCEA (Friday) approved the proposal of sewerage and non-sewerage schemes for pollution abatement of river Ganga at Allahabad under the National [..] Read the original article: here.

Finance officials see improving global economy following deep recession, but threats remain

G-20 officials convene for talks on global economy
WASHINGTON – Finance officials from the world’s major countries believe the global economy is in far better shape than it was a year ago, but they are worried that a growing debt crisis in Greece could cause the hard-won gains to unravel.
Some are also concerned about … Read more >>>.

Novartis says EU has approved best-selling hypertension drug Diovan for children

Novartis: EU approves Diovan for children
GENEVA – Pharmaceutical maker Novartis AG said Friday the European Union has approved its best-selling hypertension drug Diovan for treatment of children aged 6-18.

The Basel, Switzerland-based company says national authorities now have to approve the use of the drug for children with high blood pressure.
Novartis said it will apply for …. Source article  : Novartis says EU has approved best-selling hypertension drug Diovan for children.

Swedish truck maker Volvo reports Q1 profit on lower costs, stronger sales and productivity

Swedish truck maker Volvo posts Q1 profit
STOCKHOLM – Swedish truck maker AB Volvo on Friday posted a near 1.7 billion kronor ($236 million) net profit for the first quarter, significantly beating analyst forecasts through cost reductions and improved productivity in key units.

The result compared with a loss of 4.2 billion kronor in the same three …. Source  : Swedish truck maker Volvo reports Q1 profit on lower costs, stronger sales and productivity.

Rams select Heisman-winning quarterback Sam Bradford with No. 1 pick in NFL draft

Rams take Heisman winner Bradford with No. 1 pick

ST. LOUIS – The one-win St. Louis Rams earned the right to take Sam Bradford with the first pick in the NFL draft. The offense was puny, the defense a pushover.
The Oklahoma quarterback found plenty to like, though, even before getting the call from general manager Billy …. Read the original article  : Rams select Heisman-winning quarterback Sam Bradford with No. 1 pick in NFL draft.

Fresh snowfall lures tourists to Himachal

SHIMLA – The sweeping heat wave across north India has once again driven tourists to various popular destinations in Himachal Pradesh to seek refuge in the cooler climes of the hills especially after a recent spell of snow.

According to tourism industry representatives here, after the recent rainfall and snow in various parts of the state, … Read more : Fresh snowfall lures tourists to Himachal.

Sensex slips from day’s highs

MUMBAI – A benchmark index for Indian equities Friday slipped from the morning highs and was ruling 66 points higher than its previous close in afternoon trade.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,533.88 points, was ruling at 17,640.59 points, 66.6 points or 0.38 percent higher than … Read : Sensex slips from day’s highs.

Nitesh Estates Gets Anchor Investors

BANGALORE, INDIA (GaeaTimes.com)- Indian property developer firm Nitesh Estates which is based out of Bangalore shall now have four major anchor investors to back up their investment plans. Reportedly, the four anchor investors are SBI MF, HDFC MF, Halbis Capital and Nomura Japan. Reportedly, Nitesh Estates is moving ahead with their IPO (Initial Public Offering) … Read the original article on Gaea Times at : Nitesh Estates Gets Anchor Investors.

Republicans ramp up criticism of SEC over reports high-level agency staff surfed Web for porn

GOP ramps up attacks on SEC over porn surfing

WASHINGTON – Republicans are stepping up their criticism of the Securities and Exchange Commission following reports that senior agency staffers spent hours surfing pornographic websites on government-issued computers while they were supposed to be policing the nation’s financial system.
California Rep. Darrell Issa, the top Republican on the …. Original article on Gaea Times at  : Republicans ramp up criticism of SEC over reports high-level agency staff surfed Web for porn.

Mixed review for new health care law says covering more still comes with greater costs

Report says health care will cover more, cost more
WASHINGTON – President Barack Obama’s health care overhaul law is getting a mixed verdict in the first comprehensive look by neutral experts: More Americans will be covered, but costs are also going up.
Economic experts at the Health and Human Services Department concluded in …. Source article  : Mixed review for new health care law says covering more still comes with greater costs.

Bangkok’s business district crippled after bloody grenade attacks near volatile protests

Bangkok business district crippled after attacks

BANGKOK – The Thai capital’s main financial district was partially crippled Friday following deadly grenade attacks and a tense standoff between die-hard, anti-government demonstrators and a government that has yielded vital areas of Bangkok to them.
Many banks, offices, restaurants and a major shopping complex were closed along Silom Road, known …. Original article  : Bangkok’s business district crippled after bloody grenade attacks near volatile protests.

Rock Garden to get CCTV cameras

CHANDIGARH – Rock Garden, a hugely popular tourist destination here, will soon come under the scrutiny of closed circuit television (CCTV) cameras, a senior official said Friday.

“This is being done since the Rock Garden is visited by a large number of people. Besides the security money for booking its premises has been hiked from Rs.5,000 …. Read the original article  : Rock Garden to get CCTV cameras.

Acute power shortage sparks protests in Bihar

PATNA – Acute power shortage has sparked protests in several places in Bihar since Wednesday with some people even holding officials of the Bihar State Electricity Board (BSEB) hostage for hours, assaulting them and ransacking the offices of the power utility.

Hundreds of angry people were protesting in Lakhisarai district and at Bihta near Patna since …. Source article on Gaea Times at  : Acute power shortage sparks protests in Bihar.

Greek fiscal fears push euro to near $1.32 in European trading

Euro slides to near $1.32 on Greek crisis fears

BERLIN – Mounting fears about Greece’s fiscal health are pushing the euro lower and lower in European trading as the 16-nation currency hovered at levels not seen in nearly a year.
The euro fell as low as $1.3202 early Friday before gaining to $1.3230, but that’s still down …. Read the original article  : Greek fiscal fears push euro to near $1.32 in European trading.