Shanghai World Expo showcases China’s quest to project influence to world

Shanghai World Expo showcases China’s soft power

SHANGHAI – Near the center of the World Expo grounds, the crimson-painted, crown-shaped China Pavilion towers over other nations’ exhibits as a physical display of the country’s pride and growing power.
Just as the Beijing Olympics showed China’s growing economic and geopolitical influence for a few weeks in 2008, the … Original source on Gaea Times at : Shanghai World Expo showcases China’s quest to project influence to world.

India, China to post high growth as Asia leads recovery

WASHINGTON – India and China will maintain high growth rates this year and Asia will continue to lead the global recovery despite challenges of inflation and excessive capital flows, IMF officials say.

India and China will grow at the rates of 8.8 and 10 percent respectively.
“By the end of 2009, output in most of …. Source  : Gaea News Network.

Food grain reserve sought in Madhya Pradesh

BHOPAL – Faced with surplus wheat production and lack of storage space, the Madhya Pradesh government has sought the central government’s assistance to develop a strategic grain reserve in the state, official sources said Sunday.

In a letter written to Agriculture Minister Sharad Pawar Saturday, Chief Minister Shivraj Singh Chouhan said record rabi production has not … Read the original article on Gaea Times at : Food grain reserve sought in Madhya Pradesh.

Russia’s capital outflow to be close to zero in 2010

Washington, April 25 (IANS/RIA Novosti) Net capital outflow from Russia will decrease and may be close to zero in 2010 as the country is back on recovery facilitated by higher oil prices, Finance Minister Alexei Kudrin has said.

“The capital outflow will be decreasing. It will depend on world markets, including oil prices,” Kudrin said at … Read more : Russia’s capital outflow to be close to zero in 2010.

Kingfisher starts Nepal flights

KATHMANDU – Mumbai-based major Indian carrier Kingfisher Airlines has begun its much-awaited flight to Nepal, becoming the third Indian airline to connect the two neighbouring countries.

Vijay Mallya, chairman and chief executive officer of the group, flew to Kathmandu himself Saturday for the inaugural flight.
Kingfisher, which had flown more than a million visitors last year, …. Source  : Kingfisher starts Nepal flights.

Record cherry pick expected from Himachal

SHIMLA – Here’s some sweet and juicy news – cherry growers in Himachal Pradesh are expecting a bumper crop of the fruit this season owing to favourable weather. Total production is set to touch a record 900 tonnes.

“The state is heading towards a bumper cherry crop this year with favourable weather during the last winter …. Original article  : Record cherry pick expected from Himachal.

At Sri Lankan elephant orphanage, dung is in business (Feature with images)

PINNAWELA – Don’t call it crap. Dung is actually being turned into profit at the Pinnawela Elephant Orphanage, thanks to a good idea.

At the entrance to the orphanage stands a shop, Pinnawala Elephant Dung Paper, where elephant excrement is used to make products like notebooks, photo frames, gift items, book marks, photo albums and …. Source  : At Sri Lankan elephant orphanage, dung is in business (Feature with images).

National Food Grain Reserve sought in Madhya Pradesh

BHOPAL – Madhya Pradesh Chief Minister Shivraj Singh Chouhan has requested the central government to provide necessary assistance for developing a National Food Grain Strategic Reserve in the state, owing to surplus production, official sources said Sunday.

In a letter written to Agriculture Minister Sharad Pawar Saturday, Chouhan said record rabi production has not only put …. Read the original article  : National Food Grain Reserve sought in Madhya Pradesh.

Dhaka looks globally for yarn after Indian export ban

DHAKA – Bangladesh’s spinners are trying to import cotton yarn and raw cotton from Africa, Austria, the US and Brazil after India recently imposed a ban on its export.

India is a major supplier of cotton yarn to Bangladesh, with intake of more than 3.5 million bales a year.
Imports from India have risen from the …. Original article  : Dhaka looks globally for yarn after Indian export ban.

Global economy recovering but reform consistency needed: IMF

WASHINGTON – With the global economy still not out of the woods after its worst crisis in decades, the IMF’s policy steering committee urged a collaborative and consistent approach to reform of the international financial system.

“The global economy seems to be recovering. The worst is definitely behind us. But, we are not out of the …. Source article on Gaea Times at  : Global economy recovering but reform consistency needed: IMF.

India, China at forefront as Asia leads global recovery: IMF

WASHINGTON – India and China will again take the lead with 8.8 and 10 percent growth this year as Asia continues to lead the global recovery growing at about 7 percent for two years, IMF officials say.

“By the end of 2009, output in most of Asia had returned to pre-crisis levels even in those economies … Original article on : India, China at forefront as Asia leads global recovery: IMF.

Iceland’s volcanic ash hit India’s exports as well (Comment)

Even as India’s airlines were struggling to get back to normalcy after weathering the global recession, the volcanic ash from Iceland has given the industry another jolt while also affecting the country’s exports.

Just a few days before ash spewing out of the Icelandic volcano crippled Europe’s airports, Civil Aviation Minister Praful Patel had said that … Read more : Iceland’s volcanic ash hit India’s exports as well (Comment).

India wants IMF to redefine its role (Repeat for all needing)

WASHINGTON – India has asked the International Monetary Fund (IMF) “to reshape and redefine its role and mandate” in tune with the times to play a pivotal role in warning about future global crises and help foster strong and sustainable growth.

“Concerted and decisive actions by both advanced and emerging and developing countries helped the world … Read : India wants IMF to redefine its role (Repeat for all needing).

Indian services sector back to pre-slowdown level

NEW DELHI – The Indian services industry is back to its pre-slowdown level, with many of its key sectors reporting double digit growth, says a Confederation of Indian Industry (CII) survey.

“Out of 51 sectors surveyed, 13.72 percent of the sectors have recorded excellent growth of more than 20 percent in 2009-10. This is clearly an …. Read the original article  : Indian services sector back to pre-slowdown level.

India poised to grow at 8 percent; inflation worrisome (Repeating for all needing)

WASHINGTON – Recovering rapidly from the global financial crisis, India is poised to grow at 8 percent this year, but inflation and excessive capital flows could pose a challenge, a gathering of world finance ministers was told Saturday.

“Current estimates are that real GDP had grown at 7.2 per cent during the just completed fiscal year … Read more >>>.

Jobless rate in Italy to reach 11 percent

Rome, April 25 (IANS/AKI) Even as the country is going through its worst economic crisis since the World War II, unemployment in Italy is expected to rise to 11 percent by 2012, a study has said.

“The full effects of the recession, in terms of permanent employment and unemployment, still haven’t materialised. Wages will be penalised … Read more : Jobless rate in Italy to reach 11 percent.

Hungary’s center-right Fidesz party could win big election victory

Center-right party could sweep Hungarian election
BUDAPEST, Hungary – A center-right party could win a two-thirds parliamentary majority in Sunday’s second round of national elections, clearing the way for its plans to fight the nation’s deep recession, widespread corruption and bloated public sector.
Viktor Orban’s Fidesz party won 52.7 percent of the votes and 206 … Read more »».

IMF assures help for Greece to get rid of debt

WASHINGTON – International Monetary Fund chief Dominique Strauss-Kahn sought Saturday to assuage Greek concerns over his organisation’s history as the IMF considers an aid package to help Athens out of its debt crisis.

“The Greek citizen shouldn’t fear the IMF,” Strauss-Kahn told reporters after a meeting of the IMF’s steering committee in Washington. “We are there … Read the original article on Gaea Times at : IMF assures help for Greece to get rid of debt.

E-mails show Goldman traders rushed to bet against the mortgage market as crisis spread

Goldman e-mails show how crash turned into cash

NEW YORK – As the U.S. housing turned downward in January 2007, a Goldman Sachs trader wrote in e-mails to a woman he apparently was courting that investments he had sold were “like Frankenstein turning against his own inventor.”
“I’m trading a product which a month ago was worth … Original source on Gaea Times at : E-mails show Goldman traders rushed to bet against the mortgage market as crisis spread.

Magic coach Stan Van Gundy vows to lay off officials; David Stern responds with a smile

Van Gundy’s done talking; Stern’s just smiling

CHARLOTTE, N.C. – Orlando Magic coach Stan Van Gundy vowed to stop talking about the officials. The declaration left NBA commissioner David Stern with a smile.
The give-and-take between the two continued before Game 3 of the Magic’s first-round playoff series at Charlotte on Saturday. Stern was in attendance two … Original article on : Magic coach Stan Van Gundy vows to lay off officials; David Stern responds with a smile.