Bangladesh parliamentary panel to probe Airtel deal

DHAKA – A parliamentary committee in Bangladesh is to probe a possible loss to the country from the sale of a substantial portion of mobile operator Warid’s stake to Indian telecom firm Bharti Airtel.

The parliamentary standing committee of the planning ministry Sunday asked the Bangladesh Telecommunication Regulatory Commission (BTRC) to submit a report …. Source  : Bangladesh parliamentary panel to probe Airtel deal.

I’m not biracial: Some African-Americans with white parent decline to check ‘white’ census box

Black or biracial? Census forces a choice for some
There were 784,764 U.S. residents who described their race as white and black in the last census. But that number didn’t include Laura Martin, whose father is black and mother is white.
“I’ve always just checked black on my form,” said Martin, a 29-year-old university employee …. Read the original article  : I’m not biracial: Some African-Americans with white parent decline to check ‘white’ census box.

TCS to announce Q4 Results 2010

NEW DELHI, INDIA (GaeaTimes.com) — Tata Consultancy Services (TCS) is all set to announce its Q4 Results 2010 today on April 19, 2010. The board of directors, as report said, will meet and decide on the final dividend to be distributed among the share holders.
TCS is also said to go for a salary hike …. Source article  : TCS to announce Q4 Results 2010.

Sensex in the red on weak Asian cues

MUMBAI – A key Indian equities index Monday joined its poorly performing Asian peers and was ruling 1.51 percent lower from the previous close.

The sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,584.86 points, was ruling at 17,326.19 points, down 264.99 points or 1.51 percent from its previous close at … Read more >>>.

AP source: Toyota will agree on record $16.4 million fine for faulty gas pedals

Toyota set to agree on record fine, AP source says

WASHINGTON – Toyota Motor Corp. is expected to agree to a fine of more than $16 million on for failing to promptly report to the government problems with sticking gas pedals on its vehicles, a Transportation Department official said.
Toyota faces a Monday deadline to accept or … Read more : AP source: Toyota will agree on record $16.4 million fine for faulty gas pedals.

NALCO to produce 1,000 MW as independent producer

BHUBANESWAR – State-owned National Aluminium Co Ltd (NALCO) said Monday it will produce at least 1,000 megawatts power by 2016 as an independent power producer.

The company expects to generate the power from the standalone projects it has planned in the nuclear, thermal, hydel, wind and solar energy sectors, NALCO’s finance director B.L. Bagra …. Read the original article  : here.

Folk singing scientist and seed expert becomes first Cuban to win Goldman environmental prize

Cuba’s ’seed man’ wins global environmental prize

BAUTA, Cuba – The folk-singing scientist strides over dry, fluffy soil that’s brown with a hint of red, like brownies fresh from the oven. He’s talking about seeds. He’s always talking about seeds.
Humberto Rios Labrada’s campaign to let Cuban farmers choose the crops and seed varieties best for their …. Original article  : Folk singing scientist and seed expert becomes first Cuban to win Goldman environmental prize.

Poll: Americans’ confidence in the federal government at a 50-year low, 80 percent are wary

Poll: 4 out of 5 Americans don’t trust Washington
WASHINGTON – America’s “Great Compromiser” Henry Clay called government “the great trust,” but most Americans today have little faith in Washington’s ability to deal with the nation’s problems.
Public confidence in government is at one of the lowest points in a half century, according to a …. Original source  : Poll: Americans’ confidence in the federal government at a 50-year low, 80 percent are wary.

Bihar’s litchis are food for wine

PATNA – It’s sweet, pulpy, juicy and perfect wine material. The litchi may soon be seen in a new avatar as two private companies are keen to use the fruit – that grows in abundance in Bihar’s Muzaffarpur district – to produce wine.

Kingfisher and Litchika International have approached Muzaffarpur-based National Litchi Research Centre to sign … Read this article on Gaea Times at : Bihar’s litchis are food for wine.

Oil plunges below $82 in Asia as volcano ash cloud undermine Europe’s economic recovery

Oil plunges below $82 on volcano, Goldman jitters

SINGAPORE – Oil prices plunged below $82 a barrel Monday in Asia, extending big losses on expectations that disruption to air travel from the Icelandic volcano will undermine the global economic recovery and crude demand.
Benchmark crude for May delivery was down $1.62 to $81.62 a barrel at late …. Read the original article  : Oil plunges below $82 in Asia as volcano ash cloud undermine Europe’s economic recovery.

China gives $20 bn to Venezuela in exchange for fuel

Caracas (Venezuela), April 19 (IANS/EFE) China would provide $20 billion to Venezuela for a “large volume and long term” financing plan in exchange for more petroleum, Venezuelan President Hugo Chavez has said.

China will contribute financing of $20 billion” to help with development in Venezuela under conditions that in no way have anything to do with … Read the original article on Gaea Times at : China gives $20 bn to Venezuela in exchange for fuel.

Economic numbers may be looking up, but in some places they don’t add up to optimism

Recession is ending? Some Americans don’t buy it

TWINSBURG, Ohio – The clerk at the candy shop does not want to cry. She is determinedly cheerful, a professional smiler, dressed head to toe in bright turquoise.
But standing next to a display of plastic-wrapped candles and teddy bears, her face crumples at the most basic of questions: …. Source  : Economic numbers may be looking up, but in some places they don’t add up to optimism.

Volcanic ash casts shadow over Abu Dhabi real estate show

Abu Dhabi, April 19 (IANS/WAM) Volcanic ash erupting from Iceland has cast a shadow over Abu Dhabi’s real estate exhibition with many visitors unable to attend the event due to cancellation of flights across Europe.

“Unfortunately, the catastrophic event thousands of kelometres away in Iceland has had an impact here in Abu Dhabi,” said Rohan Marwaha, … Read the original article on Gaea Times at : Volcanic ash casts shadow over Abu Dhabi real estate show.

Dish Network to carry Epix movies from Paramount, MGM and Lions Gate

Dish Network agrees to carry Epix movie channel

NEW YORK – Dish Network subscribers will have available to them some of the latest movies from three major Hollywood studios when Epix becomes one of their channel choices this month.
Epix, the pay TV channel owned by Viacom Inc.’s Paramount Pictures, Metro-Goldwyn-Mayer Studios Inc. and Lions Gate Entertainment …. Source  : Gaea News Network.

Airlines seeing more passengers and add-on fee revenue, but profits not expected yet

Brighter skies haven’t yet helped airline profits

ATLANTA – Fares are higher, demand is up and the airlines have established a steady revenue stream from add-on fees for baggage, pillows and food.
That formula is moving the industry back toward profitability as early as this summer, a change that will have implications for travelers.
But first: more red … Read more : Airlines seeing more passengers and add-on fee revenue, but profits not expected yet.

Sensex plummets in opening trade

MUMBAI – A key Indian equities index fell sharply at opening bell Monday and was ruling 1.3 percent lower than its previous close, minutes into trade.

The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened at 17,584.86 points and was ruling at 17,360.95 points, down 230.23 points or 1.31 percent from its previous close …. Read the original article  : Sensex plummets in opening trade.

Money Market Operations as on April 16, 2010

… Read : Money Market Operations as on April 16, 2010.

AP source: Toyota to agree to full $16.4 million government fine over sticking gas pedals

AP source: Toyota to agree to $16.4 million fine

WASHINGTON – Toyota Motor Corp. is expected to agree to a fine of more than $16 million, the largest government penalty levied against an automaker, for a four-month delay in telling federal authorities about defective gas pedals on its vehicles, a Transportation Department official said Sunday.
Toyota faces … Read the original article on Gaea Times at : AP source: Toyota to agree to full $16.4 million government fine over sticking gas pedals.

Asian stock markets fall sharply amid fraud charges against Goldman Sachs

Asian stock markets tumble in early trading

TOKYO – Asian markets fell in early trading Monday as financial stocks tumbled amid news of fraud charges against Goldman Sachs.
Japan’s Nikkei 225 stock average lost 1.8 percent to 10,901.33 and South Korea’s Kospi retreated 1.3 percent to 1,711.99. Stock markets in Australia, mainland China, Taiwan and Singapore were …. Read the original article  : here.

Cuban tobacco legend Robaina dead at 91

HAVANA – Alejandro Robaina, Cuba’s best known tobacco farmer, has died at age 91, state media reported Sunday.

He was part of a family that has been growing tobacco for four generations in San Luis near Pinar del Rio in western Cuba.
Robaina is widely credited with maintaining the quality standards of Cuba’s legendary cigar tobacco … Read more : Cuban tobacco legend Robaina dead at 91.

If Iran goes nuclear, US would have limited options for containment

US has limited options in stopping Iranian nukes
WASHINGTON – If diplomacy fails and Iran gets a nuclear bomb, the U.S. would still have ways to discourage Tehran from using these terrifying weapons.
But there are limits on what even the world’s sole superpower can do to contain a nuclear-armed Iran and blunt its influence …. Source  : Gaea News Network.

Most world markets recover modestly after financial stocks lead US rebound

Global markets mostly higher after US rebound

HONG KONG – Most global markets rebounded modestly Tuesday, following Wall Street higher as financial stocks recovered from a sell-off prompted by the U.S. government’s fraud case against Goldman Sachs.
Many Asian and European benchmarks were up less than 1 percent, while oil regained some ground after a big tumble. … Read more »»».

RBI Credit Policy: Subbarao announced 5.25 per cent Repo Rate

NEW DELHI, INDIA (GaeaTimes.com) — D. Subbarao, the honorable Governor of The Reserve Bank of India (RBI) has announced the new policy statement for the fiscal year 2010-2011 on April 20, 2010. According to reports, The cash reserve ratio, repo rate and Reverse Repo rate are likely to increase. Under the Liquidity Adjustment Facility …. Original article  : RBI Credit Policy: Subbarao announced 5.25 per cent Repo Rate.

Report: Iranian foreign minister calls nuclear fuel swap a chance to boost trust with the West

Iran: Nuclear fuel swap a chance to boost trust

TEHRAN, Iran – Iran’s foreign minister has called a proposed exchange of nuclear fuel an opportunity to boost trust with the West.
A 2009 U.N.-backed plan offered nuclear fuel rods to Tehran in exchange for Iran’s stock of lower-level enriched uranium. The swap would curb Tehran’s capacity to … Read : Report: Iranian foreign minister calls nuclear fuel swap a chance to boost trust with the West.

India’s central bank hikes rates further to tame inflation (Roundup)

MUMBAI – Interest rates on housing, automobile and corporate loans were set to rise with India’s central bank hiking key rates in its monetary policy for this year unveiled Tuesday to suck excess liquidity out of the system to tame inflation.

The Reserve Bank of India (RBI) also projected India’s growth for this fiscal at upward … Read more : India’s central bank hikes rates further to tame inflation (Roundup).

Amway targets Rs.20 billion business in India by 2012

AGARTALA – Consumer and home products direct marketing company Amway India hopes to do business worth Rs.20 billion in the country by 2012, adding more products to its portfolio, a company official said here Tuesday.

“After commencing commercial operations and business with Rs.9.1 million in 1998, Amway has done business worth Rs.14 billion last year (2009) …. Source  : Gaea News Network.

As Republican fortunes rise, former officeholders look to become political comeback kids

Sensing GOP tide, has-beens look to be comebacks
WASHINGTON – Republicans once saddled with the burden of President George W. Bush’s unpopularity are now experiencing a boon from another struggling president: Barack Obama.
The GOP senses rising fortunes from coast to coast, as one-time lawmakers such as Richard Pombo in California and Charlie Bass …. Original article  : As Republican fortunes rise, former officeholders look to become political comeback kids.

RBI hikes policy rates and CRR by 25 basis points

MUMBAI – The Reserve Bank of India on Tuesday hiked key policy rates by 25 basis points and the Cash Reserve Ratio (CRR) for banks by 25 basis points.

The CRR now stands at six per cent, from 5.75 per cent. The repo rate has been raised to 5.25 per cent [..] Read the original article: here.

BSNL workers on strike against divestment

NEW DELHI – Over three lakh employees and executives of Bharat Sanchar Nigam Ltd (BSNL) Tuesday went on an indefinite strike protesting against the government’s plan for divestment in the telecom service provider, a union official said.

“The strike began at 6 a.m. at all BSNL offices in the country. In Delhi, it started around 10. …. Source  : Gaea News Network.

AIADMK, MDMK walk out of assembly

CHENNAI – AIADMK and MDMK legislators Tuesday walked out of the Tamil Nadu assembly protesting what they said was the government’s inaction in bringing down yarn prices.

Moving calling attention motion on rising yarn prices, AIADMK legislators asked the government to take action on banning cotton exports and bringing down the yarn prices.
Replying to the …. Original article on Gaea Times at  : AIADMK, MDMK walk out of assembly.

Thai protesters fortify encampments in heart of Bangkok ahead of ‘big war’

Thai protesters fortify camps in heart of Bangkok

BANGKOK – Thai protesters said Tuesday that they would fortify their sprawling encampment in Bangkok’s upscale hotel-and-shopping district before venturing out to “wage a big war” to topple the government they decry as illegitimate.
Soldiers in full combat gear guarded other nearby sections of the capital in an increasingly …. Read the original article  : Thai protesters fortify encampments in heart of Bangkok ahead of ‘big war’.

Chhattisgarh bans foreign travel on government money

RAIPUR – The Chhattisgarh government has banned its ministers and bureaucrats from touring abroad on state government expenses till March 31 next year, official sources said Tuesday.

The order by the finance department will cover the chief minister and ministers, bureaucrats, nine parliamentary secretaries who enjoy minister of state status and heads of various boards and …. Original article  : Chhattisgarh bans foreign travel on government money.

India’s central bank starts process for new bank licenses

MUMBAI – The Reserve Bank of India (RBI) Tuesday began the preparatory process to issue new commercial banking licenses to private sector players as suggested by Finance Minister Pranab Mukherjee in his budget speech for this financial year.

RBI Governor D. Subbarao said a discussion paper will be prepared by the central bank and put … Read more >>.

Strong Indian rupee makes China Dhaka’s no.1 trade partner

DHAKA – China is once again Bangladesh’s number one trading partner, thanks to a strengthening Indian rupee.

Indian goods are facing tough competition from Chinese imports, trade officials and analysts told New Age newspaper Tuesday.
Sources in the office of the chief controller of exports and imports said that Bangladesh-China trade increased by 58 percent …. Original article  : Strong Indian rupee makes China Dhaka’s no.1 trade partner.

New commemorative circulation coin of Rs.5/- denomination (Nickel Brass) on the occasion of “60 years of the Commonwealth”

The Reserve Bank of India will shortly put in to circulation new commemorative circulation coins of Rs.5/- denomination (Nickel Brass) issued by the Government of India on the occasion of "60 years of Commonwealth".

Shape and outside diameter

No. of Serrations

Metal  Composition

Circular
23 … Read the original article on Gaea Times at : New commemorative circulation coin of Rs.5/- denomination (Nickel Brass) on the occasion of “60 years of the Commonwealth”.

Most Asian markets recover modestly after financial stocks lead US higher;

Most Asian markets recover after US rebound

HONG KONG – Most Asian markets rebounded modestly Tuesday, following Wall Street higher as financial stocks recovered from a sell-off prompted by the U.S. government’s fraud case against Goldman Sachs.
The region’s major benchmarks were up less than 1 percent, while oil regained some ground after a big tumble. The … Read more »».

Customer service of commercial banks wanting: Subbarao

MUMBAI – India’s central bank Tuesday expressed dissatisfaction over the manner in which commercial banks treat their customers, even charging higher rates of interest than permissible, and has decided to set up an panel to address the issue.

“Customer service in the banking industry is increasingly becoming important as banks are privileged institutions and banking is …. Read the original article  : here.

Stock markets positive to lower hike in interest rates

MUMBAI – Benchmark indices of the Indian equities markets rose almost a percent after the Reserve Bank of India (RBI) announced a lower than expected hike in key interest rates.

The sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,394.68 points, rose to 17,551.02 points, up 150.34 points or 0.86 percent from …. Original source  : Stock markets positive to lower hike in interest rates.

India’s central bank hikes key rates to tame inflation

MUMBAI – Interest rates on housing, automobile and corporate loans are set to rise with India’s central bank hiking key rates in its monetary policy for this year unveiled Tuesday to suck excess liquidity out of the system to tame inflation.

The Reserve Bank of India (RBI) also projected India’s growth for this fiscal at upward … Read more »»».

Swiss drug maker Novartis says 1Q net profit up 49 percent to $2.95 billion

Novartis says 1Q profit up 49 percent
GENEVA – Drug maker Novartis AG says its first-quarter net profit has increased 49 percent to $2.95 billion on strong sales particularly of swine flu vaccine.

The Swiss company reported a net profit of $1.98 billion in the same quarter a year ago.
Sales rose 25 percent to $12.13 billion in …. Original source  : Swiss drug maker Novartis says 1Q net profit up 49 percent to $2.95 billion.

Asian stock markets gain on US corporate earnings, jump in oil price; Europe mixed

Asian markets rise on earnings, Europe mixed

BANGKOK – Asian stocks markets mostly shot higher Wednesday as robust U.S. earnings offered further evidence of recovery in the world’s biggest economy. European shares were mixed.
Some of the region’s major benchmarks were up 1.5 percent or more while oil jumped above $84 a barrel. The dollar rose against …. Source  : Asian stock markets gain on US corporate earnings, jump in oil price; Europe mixed.

Vizag Steel Plant Increases Prices

VIZAG, ANDHRA PRADESH, (GaeaTimes.com)- The Vishakhapatnam Steel Plant, or the Vizag Steel Plant, has declared that it would be hiking its prices by about 3 to 4 percent this year. This comes as the second hike in this year, for, only in the last month, the prices in the plant had been increased … Read more : Vizag Steel Plant Increases Prices.

Revenues from 3G auction may touch Rs.45,000 crore: Raja

NEW DELHI – The government hopes to net around Rs.45,000 crore from the ongoing auctions to award radio frequency spectrum for third generation (3G) telecom services and for rolling out broadband wireless internet services, Communications Minister A. Raja said Tuesday.

“The auction of 3G and Broadband Wireless Access (BWA) spectrum put together is likely to fetch …. Read the original article  : here.

HLL Life Care ends fiscal 2009-10 with record turnover

THIRUVANANTHAPURAM – Leading condom manufacturer HLL Life Care closed the last fiscal (2009-10) with a record turnover of Rs.445 crore, the mini ratna company’s Managing Director M. Ayyappan said here.

Formerly known as Hindustan Latex Limited, the city-based enterprise recorded a turnover of Rs.371 crore in 2008-09.
HLL Life Care is the leading provider of …. Read the original article  : here.

Airlines group says industry lost over $1.7 billion from ash cloud disruptions over Europe

IATA: airlines lost over $1.7BN in ash chaos

BERLIN – The International Air Transport Association says disruptions to European air travel from the volcanic ash cloud have cost the industry at least $1.7 billion.
IATA says airlines lost revenues of $400 million each day during the first three days of grounding.
The group’s chief executive says the scale …. Read the original article  : here.

Bangladesh invites pre-qualification bids for Padma bridge

DHAKA – Bangladesh has invited international bids for pre-qualification for the construction of a road-cum-rail bridge over river Padma that will link the northern and southern parts of the country better.

Communications Minister Abul Hossain said Tuesday the government wanted the construction work to start by December this year.
“We are expecting to complete the bridge …. Source article on Gaea Times at  : Bangladesh invites pre-qualification bids for Padma bridge.

Pakistan inks deal for US guided-missile frigate

ISLAMABAD – Pakistan has inked a $78 million deal for acquiring the US guided-missile frigate USS McInerney that will join the fleet in January 2011 after a $65 million refurbishment to be paid for with foreign military aid provided by the US to friendly countries.

Under the contract, Pakistan is to take over the ship … Read the original article on Gaea Times at : Pakistan inks deal for US guided-missile frigate.

Talwalkars IPO Worth 60.5lakh

MUMBAI, INDIA (GaeaTimes.com)- Talwalkars, which happens to be one of the most prominent fitness clubs in India (51 clubs in 24 cities) has gone ahead to hit the market with an IPO (Initial Public Offering) of 60.5 lakh in equity shares. Talwalkars is based out of Mumbai and as speculated, it shall raise a price … Read more >>.

AP-GfK Poll: Honk if you prefer US cars: Americans see US autos topping Asian competitors

AP-GfK Poll: Americans say US cars top Asian autos

WASHINGTON – After a long romance with foreign rivals, America’s love affair with the automobile is returning to its roots with a revived affection for U.S.-made cars.
Slightly more Americans now say the United States makes better-quality vehicles than Asia does, with 38 percent saying U.S. cars are …. Read the original article  : here.

HDFC Bank New Plans

NEW DELHI, INDIA (GaeaTimes.com)- One of the leading private sector banking institutions of India, HDFC bank has unveiled its plan of selling silver bars during a festival in May. There are instances of banks selling gold coins during festive seasons but silver bar is something that has not been sold by any bank so … Read more : HDFC Bank New Plans.

Another train on Kalka-Shimla route

SHIMLA – A special holiday train has been started between Kalka in Haryana and Shimla in Himachal Pradesh to meet the tourist rush.

With this, the number of trains plying daily between Kalka and Shimla, separated by 96 km, have increased to six.
The latest train will depart from Kalka at 6.30 a.m. “More special trains …. Read the original article  : Another train on Kalka-Shimla route.

BJP boycotts Lok Sabha to join rally against price rise

NEW DELHI – The Bharatiya Janata Party (BJP) Wednesday boycotted the Lok Sabha proceedings to join its mass rally here to protest against the spiralling prices of essential commodities.

BJP spokesman Shahnawaz Hussain told IANS that party MPs felt it was more important to be part of the rally.
BJP leader and Leader of …. Source  : BJP boycotts Lok Sabha to join rally against price rise.

Rusting car to auction for 200,000 pounds

LONDON – A classic Aston Martin, which has been rusting in a barn for the last 20 years and now looks like a wreck, is expected to auction for a whopping 200,000 pounds.

James Bond films made the DB5 style car famous. DB5s were one of the most expensive cars available in the 1960s, when they …. Source article  : Rusting car to auction for 200,000 pounds.

Asian stock markets gain on US corporate earnings, jump in oil price

Asian markets rise on boost from earnings
BANGKOK – Asian stocks markets shot higher Wednesday as robust U.S. earnings offered further evidence of recovery in the world’s biggest economy.

Some of the region’s major benchmarks were up 1.5 percent or more while oil jumped above $84 a barrel. The dollar rose against the euro and largely held … Read : Asian stock markets gain on US corporate earnings, jump in oil price.

Deal reached in contract negotiations between NYC doormen, building owners, averting strike

Deal reached in NYC doormen talks over contract

NEW YORK – An agreement has been reached between New York City doormen and building owners, averting a threatened midnight strike.
Union spokesman Kwame Patterson says they reached a deal Wednesday that includes a nearly 10 percent wage increase over four years and no cuts in benefits for workers.
The …. Read the original article  : here.

Rains cheer Himachal’s apple growers

SHIMLA – Apple growers in Himachal Pradesh, India’s major fruit basket, are hoping for a good crop this year because of favourable weather following rains in the last few days that have brought the temperature down and added moisture to the soil.

“The weather has been really good this time and my estimation is that the … Read this article on Gaea Times at : Rains cheer Himachal’s apple growers.

Canadian firm set for drilling in Uttarakhand

VANCOUVER – Canada’s Pebble Creek mining company said here Tuesday that it is all set to commence drilling operations at its Askot project in India’s Uttarakhand state.

Situated in Pithoragarh district of the state, the Askot project likely contains deposits of gold, silver, copper, zinc and lead.
The Vancouver-based company said it will undertake drilling … Read : Canadian firm set for drilling in Uttarakhand.

Moves by major economies saved 21 mn jobs: ILO

WASHINGTON – Policies initiated by the Group of 20 (G20) major economies in response to the economic crisis have saved or created some 21 million jobs since last year, according to the UN’s International Labour Organization (ILO).

The results of the new ILO study were presented to a meeting of G20 labour and employment ministers here …. Original article  : Moves by major economies saved 21 mn jobs: ILO.

64 mn more to live in extreme poverty: World Bank

WASHINGTON – The impact of global recession will force an additional 64 million people across the world to live in extreme poverty by 2010, warns the World Bank.

The economic crisis and recession have substantially increased the challenge of meeting the Millennium Development Goals (MDG) targets, according to the World Development Indicator (WDI) 2010 released by … Read more : 64 mn more to live in extreme poverty: World Bank.

Electric cars to be in vogue by 2020

BERLIN – State-of-the-art electric cars will be in vogue by 2020 and global sales of such vehicles will amount to around 470 billion euro ($635 billion), a media report has said.

However, with the manufacture and sale of electric vehicles, there is also a need for proper universal charging systems, which can only be made when … Read more : Electric cars to be in vogue by 2020.

3G spectrum auction could raise Rs.45,000 crore: Raja

NEW DELHI – The ongoing auctions to award radio frequency spectrum for third generation (3G) telecom services and for rolling out broadband wireless internet services could raise Rs.45,000 crore, Rs.10,000 crore more than anticipated, the government said Thursday.

“We anticipated that the auction would raise Rs.35,000 crore. It may go up to Rs.45.000 crore,” Telecom Minister …. Source article on Gaea Times at  : 3G spectrum auction could raise Rs.45,000 crore: Raja.

Israeli PM rejects Obama demand for total east Jerusalem construction halt

Israel to US: No building halt in east Jerusalem
JERUSALEM – Aides to Israel’s prime minister said Thursday that his government has officially rejected President Barack Obama’s demand that it suspends all construction in contested east Jerusalem, a move that threatens to entrench a year-old deadlock in Israeli-Palestinian peacemaking.
The aides said Israeli Prime Minister …. Source article on Gaea Times at  : Israeli PM rejects Obama demand for total east Jerusalem construction halt.

Oil hovers near $84 a barrel in Asia, dampened by weak demand in the US

Oil eases hovers near $84 in Asia
KUALA LUMPUR, Malaysia – Oil prices hovered near $84 a barrel Thursday in Asia amid indications of weak crude demand in the U.S., the world’s largest energy consumer.

Benchmark crude for June delivery was up 25 cents to $83.93 a barrel at late afternoon Kuala Lumpur time in electronic trading …. Source  : Oil hovers near $84 a barrel in Asia, dampened by weak demand in the US.

Single window clearance to tourism projects in Maharashtra

MUMBAI – The Maharashtra government will provide single window clearance of tourism and hospitality projects in a bid to develop the state as an important tourism destination.

Anand Kulkarni, principal secretary in the state tourism department, announced this at a tourism business conference here Wednesday.
Kulkarni said the state government will fast track all tourism-related … Read this article on Gaea Times at : Single window clearance to tourism projects in Maharashtra.

Despite protests, Kelly Clarkson will go ahead with cigarette-sponsored show in Jakarta

Kelly Clarkson refuses to cancel Indonesia concert

JAKARTA, Indonesia – Former American Idol winner Kelly Clarkson says she will perform in Indonesia despite growing protests Thursday from fans and anti-tobacco groups unhappy over a cigarette company’s sponsorship of her upcoming show.
Clarkson said in a posting on her blog that she was surprised to learn that billboards …. Source  : Despite protests, Kelly Clarkson will go ahead with cigarette-sponsored show in Jakarta.

Credit Suisse reports 1Q net profit of $1.93 billion; says well-placed to meet new rules

Credit Suisse makes $1.93B profit in Q1
GENEVA – Credit Suisse Group reported a first-quarter net profit of 2.06 billion Swiss francs ($1.93 billion) Thursday and said it was well placed to meet new banking rules due to come into force in Switzerland later this year.

The figures met analyst expectations and are a marginal improvement on …. Source  : Credit Suisse reports 1Q net profit of $1.93 billion; says well-placed to meet new rules.

Fiat to sell industrial unit in stock market

Turin, April 22 (IANS/AKI) Automobile maker Fiat will separate its industrial business and sell it on the stock market by the end of the year as it aims to manufacture six million cars a year by 2014.

The separated farming and construction equipment business would be named “Fiat Industrial,” with an initial stock sale planned by …. Original article  : Fiat to sell industrial unit in stock market.

Indian, Chinese firms bid to build Dhaka-Chittagong highway

Dhaka, April 22 ((IANS) Two construction firms from India and China are competing to build a second highway between Dhaka and Chittagong at an estimated cost of $4.3 billion, an official said.

Soma JV of India and Sino Global Enterprise JV of China have submitted the bids in response to Bangladesh government’s pre-qualification tender, Project Director …. Original article on Gaea Times at  : Indian, Chinese firms bid to build Dhaka-Chittagong highway.

Nestle Q1 sales rise 4.4 percent to $24.6 billion on strong growth in emerging economies

Nestle first-quarter sales rise 4.4 percent

GENEVA – Nestle AG posted a 4.4 percent increase in first-quarter sales on Thursday as the world’s largest food and drink maker made gains in emerging economies.
The Swiss-based company said sales totaled 26.3 billion Swiss francs (about $24.6 billion), which it described as a strong performance in a still-difficult economic …. Original source  : Nestle Q1 sales rise 4.4 percent to $24.6 billion on strong growth in emerging economies.

UK bus-train operator Arriva backs Deutsche Bahn takeover

Deutsche Bahn taking over Arriva PLC
LONDON – U.K. bus and train operator Arriva PLC has agreed to be taken over by Deutsche Bahn in a deal valued at 1.6 billion pounds ($2.5 billion), the companies announced Thursday.

The 775 pence per share offer backed by the Arriva board represents a 34 percent premium over the closing … Original article on : UK bus-train operator Arriva backs Deutsche Bahn takeover.

Nascent Iraqi air force struggles to rebuild as US exit nears, hopes to get F-16 fighter jets

Iraq airmen blues: No MiG today; no F-16 either

NEW AL-MUTHANNA AIR BASE, Iraq – An Iraqi Air Force C-130 Hercules touches down at a base west of Baghdad as Iraqi pilots and their American instructors watch from the runway – a graceful landing for the bulky four-turboprop airlifter, one of several now owned by Iraq.
But [..] Read the original article: here.

ADB assistance increased by 42 percent in 2009: Report

MANILA – The Asian Development Bank (ADB) approved a record 16.1 billion dollars in financing operations, a 42 percent increase over the 11.3 billion dollars approved the previous year, according to ADB’s 2009 Annual Report, released ahead …. Source article on Gaea Times at  : ADB assistance increased by 42 percent in 2009: Report.

ADB 2009 performance on track: Report

MANILA – The Asian Development Bank (ADB) was on track in its performance in 2009 to deliver output targets in the core sectors of infrastructure, education and finance in the region, says an ADB report released yesterday.

The Development Effectiveness Review 2009 shows … Read more »».

Sensex up 132 points in noon trade

MUMBAI – After a weak opening, a benchmark index for Indian equities was ruling 132 points higher than its previous close in noon trade Thursday.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,476.48 points, was ruling at 17,605.05 points, 132.49 points or 0.76 percent higher than its previous [..] Read the original article: here.

Keeping up pressure for financial overhaul, Obama urging lawmakers to give him a bill quickly

Obama keeps up pressure for financial overhaul
WASHINGTON – Ramping up pressure for a financial overhaul, President Barack Obama is heading to the place where the economic meltdown began to argue for stronger government oversight of the industry and to urge Congress to finish a regulatory bill quickly.
In a speech Thursday at …. Original article on Gaea Times at  : Keeping up pressure for financial overhaul, Obama urging lawmakers to give him a bill quickly.

Chinese dam will not impact Brahmaputra: Krishna

NEW DELHI – China has assured India that a dam it is constructing on the Tsang Po river in Tibet for generating power will not impact downstream flow to the Brahmaputra, External Affairs Minister S.M. Krishna said Thursday.

“It is a fact that when we met in Beijing, the question of the power station did come … Read more : Chinese dam will not impact Brahmaputra: Krishna.

US unveils new design for $100 note

WASHINGTON – The US has unveiled a new design for the $100 note. Complete with advanced technology to combat counterfeiting, it retains the traditional look of US currency.

The unveiling was done by the US Department of Treasury, the Federal Reserve Board and the US Secret Service Wednesday.
“As with previous US currency redesigns, this note …. Read the original article  : US unveils new design for $100 note.

3G auction could raise Rs.45,000 crore: Raja

NEW DELHI – The ongoing auction of the 3G spectrum could raise Rs.45,000 crore, the Rajya Sabha was informed Thursday.

“We anticipated that the auction would raise Rs.35,000 crore. It may go up to Rs.45.000 crore,” Telecom Minister A. Raja said during question hour in the upper house.
Raja was responding to a question on …. Source  : Gaea News Network.

Food inflation rises to 17.65 percent

NEW DELHI – India’s annual food inflation rose to 17.65 percent for the week ended April 10 from 17.22 percent a week ago as prices of milk, fruits and lentils went up during the period under review, official data showed Thursday.

Data on the wholesale price index (WPI) released by the commerce and industry ministry showed …. Source  : Food inflation rises to 17.65 percent.

US, China announce anti-dumping steps against each other, possibly adding to trade tensions

US, China announce anti-dumping steps
BEIJING – The United States and China have announced new anti-dumping steps against each other over aluminum and nylon, raising the threat of new tensions over trade and currency that had eased in recent weeks.
The U.S. Commerce Department said Wednesday it was launching an investigation into whether Chinese extruded …. Source  : Gaea News Network.

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.

In Arab-America capital, ancient hookah tradition threatened by Michigan smoking ban

Mich. hookah fanciers fume about smoking ban

DEARBORN, Mich. – The main thoroughfares of this Detroit suburb, like those of many Michigan cities, aren’t as busy as they used to be. Thousands of jobs shed locally by the Ford Motor Co. have forced smaller businesses to shutter and left fewer customers for those that remain.
Yet there … Read the original article on Gaea Times at : In Arab-America capital, ancient hookah tradition threatened by Michigan smoking ban.

Candidate for Obama’s old US Senate seat says closure of family bank will not halt campaign

Candidate for Obama’s old US Senate seat undaunted
CHICAGO – Illinois Treasurer Alexi Giannoulias appeared undaunted by the shuttering of his family’s bank, saying he would continue his bid to keep President Barack Obama’s old Senate seat in Democratic hands with renewed purpose.
“My campaign for the United States Senate goes forward with …. Source article on Gaea Times at  : Candidate for Obama’s old US Senate seat says closure of family bank will not halt campaign.

Indian markets end week with modest gains (Weekly market review)

MUMBAI – Benchmark indices for Indian equities ended with modest gains this week even as lesser valued scrips outshone the larger stocks.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE) moved up a modest 103.02 points or 0.59 percent to end at 17,694.2 points Friday.
The broader S&P CNX Nifty of …. Original article  : Indian markets end week with modest gains (Weekly market review).

Lenders seek austerity measures from Greece in exchange for emergency economic aid

Will tough love fix Greece’s economic woes?
WASHINGTON – Global finance officials are sending Greece a tough love message: Move ahead on economic reforms and we’ll come to the rescue with an emergency loan package.
The rapidly escalating Greek debt crisis was expected to dominate discussions at Saturday’s gathering of the 186-nation International Monetary … Original article on : Lenders seek austerity measures from Greece in exchange for emergency economic aid.

G-20 fails to agree on global bank tax, financial reforms

WASHINGTON – Finance ministers of the world’s 20 leading economies, including India, have failed to agree on a controversial proposal for a global tax on banks or other reforms, suggesting one size does not fit all.

“The global recovery has progressed better than previously anticipated, largely due to the G-20’s unprecedented and concerted policy effort,” the … Read more >>>.

Whitman wraps up Calif. fundraising tour with Romney, McCain as protesters attack her spending

Whitman ends California tour with Romney, McCain

SACRAMENTO, Calif. – Republican gubernatorial hopeful Meg Whitman wrapped up a week of fundraising Friday with help from some big GOP names while facing protests about the amount of money she is spending on her quest for California’s highest office.
Whitman’s political mentor, former Massachusetts Gov. Mitt Romney, joined her … Read the original article on Gaea Times at : Whitman wraps up Calif. fundraising tour with Romney, McCain as protesters attack her spending.

India, China growth helping developing nations: World Bank

WASHINGTON – But for the rapid progress made by India and China, the pace of poverty reduction in developing countries would have been still slower after the global economic crisis, according to World Bank’s lead economist.

“The crisis struck just when the developing countries were making significant strides, especially in poverty. Poverty rates were …. Original article on Gaea Times at  : India, China growth helping developing nations: World Bank.

Insurgent attacks against contractors surge as US makes rebuilding key to strategy

Attacks against contractors surging in Afghanistan
KANDAHAR, Afghanistan – The message, very often, is sent with bloodshed.
A suicide bombing last week on a fortified Kandahar guesthouse shared by Western contracting companies killed four Afghans and injured several Americans. An Afghan engineer was shot dead in March as he helped inspect a school not far … Read the original article on Gaea Times at : Insurgent attacks against contractors surge as US makes rebuilding key to strategy.

Colt ‘85: Cleveland Browns select Texas quarterback Colt McCoy in 3rd round of NFL draft

Browns rescue Colt McCoy, take Texas QB in draft

BEREA, Ohio – Colt McCoy’s slide finally stopped in Cleveland. The Browns roped the Texas quarterback before he could fall any further.
Passed over in the first two rounds of the NFL draft, McCoy was selected in the third round with the No. 85 overall pick on Friday …. Read the original article  : here.

Carroll bypasses local hero and former player Mays in his first draft for Seattle

Mays unhappy to be passed over by his former coach

RENTON, Wash. – Friends and fans in Seattle weren’t the only ones to notice Pete Carroll didn’t draft hometown hero and USC star Taylor Mays for the Seahawks.
Mays was picked in the second round Friday by the San Francisco 49ers and passed over by his old … Original article on : Carroll bypasses local hero and former player Mays in his first draft for Seattle.

Cuba opens up to allow more cell phones

Havana, April 24 (IANS/EFE) The number of cell phone subscribers in Cuba will exceed one million by the end of this year after the government in 2008 allowed cell phone service for ordinary Cubans, a luxury previously reserved for foreigners, companies and state agencies.

Cuba has invested some $150 million since 2003 to develop the island’s … Original article on : Cuba opens up to allow more cell phones.

Feds close bank owned by family of Ill. treasurer, candidate for Obama’s old US Senate seat

Feds shuts down bank owned by Giannoulias
CHICAGO – Regulators shut down the bank owned by Illinois Treasurer Alexi Giannoulias’ family on Friday, setting up an expected but daunting challenge in his bid to keep President Barack Obama’s old Senate seat in Democratic hands.
Broadway Bank, which was heavy into real …. Source article on Gaea Times at  : Feds close bank owned by family of Ill. treasurer, candidate for Obama’s old US Senate seat.

Crude prices rise as US home sales surge

NEW YORK – Crude prices rose above $85 per barrel Friday as strong sales of new homes in the US boosted investor confidence about an economic recovery.

The Commerce Department said that new home sales rose 27 percent in March, rebounding from the previous month’s record low and blowing past expectations. The data boosted the outlook …. Source article  : Crude prices rise as US home sales surge.

Russian gas exports increase 120 percent in first quarter

MOSCOW – Russia’s natural gas exports in the first quarter of this year reached 52.1 billion cubic metres, a 120 percent increase year-on-year, the energy ministry said Friday.

Russia exported 15.15 billion cubic metres of gas in March, a 110 percent growth over last March, Xinhua reported.
Hit by the economic crisis, Russia’s gas exports dropped …. Read the original article  : here.

Regulators shut down 7 banks in Illinois; 57 closures for the year

FDIC shuts down 7 banks in Illinois
NEW YORK – Regulators on Friday shut down seven banks in Illinois, putting the number of U.S. bank failures this year at 57.
The Federal Deposit Insurance Corp. took over four banks in Chicago: New Century Bank, with $485.6 million in assets; Citizens Bank&Trust Company, with $77.3 million … Read more >>>.

Former CEO of Continental Airlines got compensation valued at $3.3 million in final year

Former Continental CEO’s 2009 pay worth $3.3M

DALLAS – The former CEO of Continental Airlines Inc. got a compensation package valued at $3.3 million in his final year leading the nation’s fourth-largest carrier, according to an Associated Press analysis of a regulatory filing made Friday.
The airline’s new CEO has vowed to reject his $730,000 salary and … Original source on Gaea Times at : Former CEO of Continental Airlines got compensation valued at $3.3 million in final year.

CEO of American Airlines parent AMR got $4.7 million in compensation, down 7.7 percent

AMR CEO 2009 compensation slipped to $4.7 million

DALLAS – The chief executive of American Airlines parent AMR Corp. got compensation valued at $4.7 million last year, down 7.7 percent from 2008, according to an Associated Press analysis of a regulatory filing made Friday.
The decline was due largely to the lower value placed on stock and …. Original article on Gaea Times at  : CEO of American Airlines parent AMR got $4.7 million in compensation, down 7.7 percent.

Washington Gov. Gregoire signs tax package hitting bottled water, soda, beer, candy and more

Washington governor signs package of tax hikes

OLYMPIA, Wash. – Calling it a “sensible and modest” solution to Washington’s historic budget crisis, Gov. Chris Gregoire on Friday approved a revenue package that nets roughly $780 million to avoid deeper cuts in education, health care and human services.
Consumers will pay more for a basketful of convenience-store favorites: …. Source article on Gaea Times at  : Washington Gov. Gregoire signs tax package hitting bottled water, soda, beer, candy and more.

G20 ministers hold off on global bank tax

WASHINGTON – Finance ministers of the world’s 20 leading economic powers on Friday stopped short of endorsing a controversial global tax on banks, instead calling for the International Monetary Fund to conduct more research into measures that would hold banks responsible.

In a communique released after their meeting in Washington, the Group of 20 (G20) bloc …. Read the original article  : G20 ministers hold off on global bank tax.

Regulators shut down 4 banks in Illinois; 54 closures for the year

FDIC shuts down 4 banks in Illinois
NEW YORK – Regulators shut down four banks in Illinois on Friday, putting the number of U.S. bank failures this year at 54.
The Federal Deposit Insurance Corp. took over three banks in Chicago: New Century Bank, with $485.6 million in assets; Citizens Bank&Trust Company, with $77.3 million …. Source article on Gaea Times at  : Regulators shut down 4 banks in Illinois; 54 closures for the year.

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.