Japan’s corporate gloom lifting as exports bolster business confidence

Japan business confidence rises on global recovery

TOKYO – Japanese companies are regaining lost confidence and feeling less somber, the central bank said Thursday, thanks to an export boom that is lifting the country’s corporate gloom.
Growing faith in the global recovery produced solid numbers in the Bank of Japan’s quarterly “tankan” survey of business sentiment. The … Original source on Gaea Times at : Japan’s corporate gloom lifting as exports bolster business confidence.

Global markets gain as Japan, China reports boost confidence; Tokyo up 1.4 percent

World stocks up after Japan,China economic reports

HONG KONG – Asian stock markets rose Thursday as signs of growing strength at powerhouse economies China and Japan brightened the outlook for the world recovery. European shares also gained in early trade.
Major markets were higher by 1 percent or more, turning around from a lackluster session the day …. Read the original article  : here.

Euro falls to $1.35 as Greek debt woes continue, eurozone reports higher unemployment

Euro falls to $1.35 in European morning trade

FRANKFURT – The euro is lower against the dollar amid lingering worries about Greece’s debt problems and rising unemployment in Europe.
The 16-nation euro is at $1.35 in European morning trade Thursday, down from $1.3510 late Wednesday in New York.
The British pound trades at $1.5228 from $1.5181, while the … Read this article on Gaea Times at : Euro falls to $1.35 as Greek debt woes continue, eurozone reports higher unemployment.

Himachal still hopeful of getting tax holiday package

SHIMLA – Political parties in Himachal Pradesh are still hopeful that the central government will restore the tax exemption scheme that has drawn industries from several sectors to the state in the past seven years.

The tax holiday scheme expired Wednesday. The National Democratic Alliance government had granted a special industrial development package to the state … Read more >>.

Money Market Operations as on March 31, 2010

…. Source article  : Money Market Operations as on March 31, 2010.

Scheme of Ways and Means Advances (WMA) to the State Governments for the Fiscal Year 2010-11

On a review of the State-wise limits of Normal Ways and Means Advances for the year 2009-10, the Reserve Bank of India has decided to keep these limits unchanged for the year 2010-11. Accordingly, the aggregate Normal WMA limit for the State Governments inclusive of the [..] Read the original article: here.

Obama travels to Maine to promote health care overhaul’s benefits for small business

Obama to promote health bill’s business benefits
WASHINGTON – President Barack Obama is promoting his health care law’s benefits for small businesses as he tries to rally public support for the massive overhaul.
During a speech Thursday in Portland, Maine – the second stop in a series of appearances to sell the reforms …. Read the original article  : Obama travels to Maine to promote health care overhaul’s benefits for small business.

UK regulator proposes sharp reduction in mobile phone connection fees

UK regulator calls for cut in mobile phone charge

LONDON – A U.K. regulatory agency on Thursday proposed a steep reduction in connection charges for mobile phone users.
The regulator OFCOM proposed to cut the so-called “mobile termination rate” in stages from 4.3 pence ($0.065) per minute to half a pence per minute by 2015.
The mobile termination … Read the original article on Gaea Times at : UK regulator proposes sharp reduction in mobile phone connection fees.

Publicity drive launched in Orissa for census 2011

BHUBANESWAR – The Orissa government Thursday launched a massive publicity drive for census 2011, spreading awareness among people about the importance of providing necessary data for the operation, an official said.

The Census of India, 2011 shall be conducted in two phases, namely, house listing operation and population enumeration. The house listing will be conducted in … Read more »»».

Dai-ichi Life Insurance soars in biggest IPO in 12 years

TOKYO – Shares of Dai-ichi Life Insurance Co, Japan’s second-largest life insurer, surged 14 percent to 160,000 yen ($1,713) when they made their debut Thursday on the Tokyo Stock Exchange after the nation’s largest initial public offering (IPO) in more than a decade.

The insurer, formerly a mutually owned company, was valued at 1.4 trillion …. Read the original article  : Dai-ichi Life Insurance soars in biggest IPO in 12 years.

Iran nuclear envoy in China for talks after easing of Beijing stance on new sanctions

Iran top nuclear envoy arrives in China for talks

BEIJING – Iran’s top nuclear negotiator arrived Thursday for talks with Chinese officials, just after Beijing appeared to drop its opposition to possible new U.N. sanctions against Tehran over its uranium enrichment program.
China has veto power in the U.N. Security Council and ending its opposition would be … Read the original article on Gaea Times at : Iran nuclear envoy in China for talks after easing of Beijing stance on new sanctions.

One third of youth in Italy are jobless

Rome, April 1 (IANS/AKI) At least one in three youngsters in Italy is unemployed as the country still suffers the impact of global recession, according to a data released by the government.

Till February, there were about 2.13 million jobless in Italy out of the total 22.81 million population of employed people in the country, state … Read the original article on Gaea Times at : One third of youth in Italy are jobless.

Maruti first auto firm in India to sell million cars in a year

NEW DELHI – Indo-Japanese automobile giant Maruti Suzuki has become the first company in India to sell over a million passenger cars during a fiscal year, with as many as 1,018,365 vehicles rolling out of its showrooms during 2009-10.

The company sold 870,790 vehicles in the domestic market and exported 147,575 vehicles out of India, both … Read : Maruti first auto firm in India to sell million cars in a year.

2 surveys show China’s manufacturing acclerated in March on strong export, domestic demand

Surveys: China manufacturing accelerated in March

SHANGHAI – China’s manufacturing accelerated in March as the dampening impact of winter weather and a long holiday the previous month eased and both exports and domestic sales recovered, two surveys showed Thursday.
The state-affiliated China Federation of Logistics and Purchasing said its purchasing managers index, or PMI, rose to 55.1 … Read more »».

Asian markets gain as Japan, China reports boost confidence; Tokyo up 1.3 percent

Asia stocks up after Japan, China economic reports

HONG KONG – Asian stock markets rose Thursday as signs of growing strength at powerhouse economies China and Japan brightened the outlook for the world recovery.
Major markets were higher by 1 percent or more, turning around from a lackluster session the day before. Oil prices traded above $84 …. Read the original article  : here.

Indian equities open on firm note

MUMBAI – Indian equities began trading on the first day of the new fiscal on a firm note, with a key market index up nearly 100 points within an hour of trading Thursday, backed by strong cues from other Asian markets.

The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened at 17,555.04 points against … Read more : Indian equities open on firm note.

India spells ‘easy’ terms for $1 bn loan to Bangladesh

DHAKA – Bangladesh says the terms set for the $1 billion loan offered by India during Prime Minister Sheikh Hasina’s New Delhi visit in January are “as easy as those of the Asian Development Bank (ADB)”.

India has offered the loan at 1.75 percent interest rate. Last week, it spelt the terms in a draft agreement …. Read the original article  : India spells ‘easy’ terms for $1 bn loan to Bangladesh.

BlackBerry holds No 1 position in US, posts $2.46-b profit

TORONTO – BlackBerry maker Research In Motion (RIM) reported 35 percent jump in its revenue over the previous fiscal year, netting in $15 billion in fiscal 2010.

The world leader in wireless communication posted a net profit of $2.46 billion for the current fiscal year ending Wednesday – up 29.8 percent from the previous year.
Interestingly, …. Read the original article  : here.

Current soda taxes too small to cut consumption or childhood obesity, study suggests

Study: Small soda taxes don’t dent obesity

ATLANTA – Small taxes on soda do little to reduce soft drink consumption or prevent childhood obesity, but larger levies probably would, according to new research.
The study is being released as a recent wave of proposals would raise soda taxes or create new ones on sugared beverages. But they’ll … Read more »».

Citigroup says Primerica IPO prices above expected range, raises $320.4 million

Citigroup’s Primerica IPO raises $320.4 million

NEW YORK – Citigroup says the initial public stock offering of its Primerica life insurance business has raised $320.4 million.
The bank said about 21.4 million shares in Primerica were sold at $15 each. That’s above Citigroup’s initial expectation of selling 18 million shares in a range of $12 to $14 …. Original article  : Citigroup says Primerica IPO prices above expected range, raises $320.4 million.

Rescue official says sounds heard in flooded Chinese coal mine where 153 workers trapped

Sounds heard in China mine where 153 trapped

BEIJING – Sounds of tapping and maybe shouts were heard Friday coming from the pipes of a flooded Chinese coal mine where 153 workers were trapped more than five days earlier, a rescue official said.
Rescuer Zhao Chuan told The Associated Press by telephone that rescuers at the Wangjialing [..] Read the original article: here.

Tourists throng Himachal for long weekend

SHIMLA – The sizzling heat wave in the north Indian plains and a long weekend have led to thousands of tourists thronging various destinations in Himachal Pradesh.

More than one lakh tourists are expected to reach the state for the Good Friday weekend, according to representatives of the hospitality industry.
“As usual, the response of …. Original article on Gaea Times at  : Tourists throng Himachal for long weekend.

Obama plans North Carolina trip to talk jobs programs, increase popularity

Obama heads to NC to talk jobs
WASHINGTON – President Barack Obama is pushing his administration’s plans to create jobs, a crucial campaign issue for Democrats as they look toward November’s midterm elections.
Obama planned remarks Friday at a North Carolina company that has hired new workers and expanded its operations with grants … Read more »»».

BHEL to invest Rs.690 cr for piping plant in Tamil Nadu

TIRUCHIRAPPALLI – Power equipment maker Bharat Heavy Electricals (BHEL) will invest Rs.690 crore to set up a new piping plant at Thirumayam in the state and expand its boiler division here.

The companys Board Thursday sanctioned Rs.250 crore for setting up a new piping plant at Thirumayam. The piping plant, apart from serving the current needs, …. Original article  : BHEL to invest Rs.690 cr for piping plant in Tamil Nadu.

India buys $70m worth of LNG from Trinidad

Port-of-SPAIN – Trinidad and Tobago exported US$70 m worth of liquified natural gas( LNG) to India in 2007, according to Trade and Industry Minister Mariano Browne.

Browne told a T&T/India Trade seminar that this gas export contributed to a trade surplus between both countries for the first time in 11 years.
“Between 1998 and 2006, trade …. Read the original article  : India buys $70m worth of LNG from Trinidad.

Healthy, stable economic relations will help both China and US: Hu

BEIJING – Healthy and stable economic and trade relations between China and the US serve the interests of both countries, Chinese President Hu Jintao said Friday.

Hu spoke with US President Barack Obama on the telephone Friday, where he hoped both sides could settle their trade disputes through dialogue and consultation, Xinhua news agency reported.
As … Original source on Gaea Times at : Healthy, stable economic relations will help both China and US: Hu.

Brickbats and bouquets for private power discom

AGRA – The transfer of power distribution from government to private hands has got a mixed response in this Taj city. More than 2,000 people had complaints while many others praised the private power discom Torrent Private Limited for its prompt response.

The transfer was not a smooth affair on the first day Thursday with … Read the original article on Gaea Times at : Brickbats and bouquets for private power discom.

Insurance for Goa’s pretty and prized coconut palms

PANAJI – The humble coconut is to Goans what perhaps the camel is to desert dwellers. So nearly 100,000 coconut palms in the coastal state of Goa are now set to be insured in an unprecedented exercise, complete with a physical examination of their girth!

Satish Tendulkar, director of agriculture, says since coconut is an important …. Original article on Gaea Times at  : Insurance for Goa’s pretty and prized coconut palms.

Home prices dip, sales up in the first quarter in high-profile Manhattan

Home prices down in Manhattan in 1Q; sales higher

NEW YORK – Home prices in Manhattan dipped in the first quarter of the year, but sales activity rocketed from last year’s low levels.
Two housing reports released Friday showed how Manhattan is navigating a choppy housing market recovery.
Sales have been helped by low mortgage rates and a …. Original source  : Home prices dip, sales up in the first quarter in high-profile Manhattan.

Employers expected to create jobs in March as recovery gains steam

Job creation expected in March as recovery builds

WASHINGTON – The economy is likely to have added jobs last month for only the second time since the recession began 27 months ago.
That, economists say, would mark a significant turning point in the recovery. It would mean the worst is over and that more job creation could … Read more »».

GM says China sales up 68 percent in March to monthly record 230,048

GM says China sales up 68 percent in March

SHANGHAI – General Motors Co. and its joint ventures say their sales jumped 68 percent in March over a year earlier to a new monthly record.
The 230,048 GM vehicles sold in March in China set a record for the 15th straight month, the company said Friday.
Sales in … Original article on : GM says China sales up 68 percent in March to monthly record 230,048.

Officials in CA’s Contra Costa County reach tentative deal on plan for tax refund to Chevron

Calif county reaches deal on tax refund to Chevron

RICHMOND, Calif. – Contra Costa County officials have reached a tentative agreement on a repayment plan for an $18 million tax refund the county owes Chevron Corp.
Officials say the county and its agencies reached a deal with the oil giant to pay $6 million on Aug. 1 …. Source article on Gaea Times at  : Officials in CA’s Contra Costa County reach tentative deal on plan for tax refund to Chevron.

Asian markets rise slightly as strong US manufacturing data suggests economy rebounding

Asian markets rise amid signs US poised for growth

SINGAPORE – Asian stock markets rose slightly Friday after expanding U.S. manufacturing suggested the world’s biggest economy is poised for solid growth this year.
Japan’s benchmark Nikkei 225 stock average rose 41.69 points, or 0.4 percent, to 11,286.09. South Korea’s Kospi was up 0.3 percent at 1,723.49 and …. Original article on Gaea Times at  : Asian markets rise slightly as strong US manufacturing data suggests economy rebounding.

Part of Elton John stage at Mexico’s Chichen Itza ruins partially collapses, injuring 3

Elton John stage at Mexico ruins partly collapses

MEXICO CITY – Part of the stage being set up for a weekend concert by singer Elton John at Mexico’s famed Chichen Itza ruins collapsed during construction, injuring three workers, authorities said Thursday.
Two of the workers were treated for slight injuries and released, and the third was hospitalized …. Original article  : Part of Elton John stage at Mexico’s Chichen Itza ruins partially collapses, injuring 3.

Verizon to record non-cash charge of $970 million related to recently passed health care bill

Verizon to take $970M charge from health care bill

NEW YORK – The corporate tax impact of the recent health care overhaul grew Thursday as Verizon Communications Inc. announced it will record a related $970 million non-cash charge in the first quarter.
So far at least 15 companies have disclosed about $2.8 billion in charges prompted by … Read more >>>.

FDIC sells $491M in distressed mortgages; Roundpoint Mortgage pays $34M for 50 percent stake

FDIC sells $491 million in home loans
WASHINGTON – The Federal Deposit Insurance Corp. has sold $490.7 million in troubled mortgage loans from 19 banks that failed between August 2008 and March 2009 as it works through an inventory of assets from the institutions it has taken over.

The FDIC said Thursday that the winning bidder in …. Original article on Gaea Times at  : FDIC sells $491M in distressed mortgages; Roundpoint Mortgage pays $34M for 50 percent stake.

Asian markets open higher in early trade after Wall Street rise on strong US mfg. data

Asian markets open higher in early trade
TOKYO – Asian stock markets climbed in early trading Friday following a rise on Wall Street, but gains in the region were limited with investors turning cautious ahead of the release of a U.S. job report later in the day.

Japan’s benchmark Nikkei 225 stock average rose 50.04 points, or …. Original article  : Asian markets open higher in early trade after Wall Street rise on strong US mfg. data.

Morgan Stanley pulling out of Revel casino development in Atlantic City, imperiling project

Morgan Stanley pulling out of Revel casino in NJ

ATLANTIC CITY, N.J. – Morgan Stanley said Thursday it is pulling out of the $2 billion Revel casino in Atlantic City and is prepared to take “a substantial loss” on the stalled project, into which it has already sunk $1.2 billion.
The company, which owns more than 90 … Original source on Gaea Times at : Morgan Stanley pulling out of Revel casino development in Atlantic City, imperiling project.

Product Recalls: hockey sticks, glass bottles, shelving units, heated jackets, power strips

Recalls: hockey sticks, glass bottles, jackets

The following recalls have been announced:
About 67,000 youth and junior hockey sticks, shafts and blades made in China and sold at sporting goods stores nationwide from February 2005 through March 2010. Another 60,000 in Canada have been recalled. Paint and decals on the products have high levels of lead, which …. Original article  : Product Recalls: hockey sticks, glass bottles, shelving units, heated jackets, power strips.

Southwest says reported WestJet deal with Delta could jeopardize its plans to serve Canada

Southwest-WestJet deal could be in jeopardy

DALLAS – Southwest Airlines Co. may be looking soon for a new partner to provide service to Canada.
Southwest has planned for more than a year to sell travel to Canada on board flights operated by Canada’s WestJet.
But Canadian media reports indicate that WestJet is talking about a similar deal with …. Source  : Gaea News Network.

Bulldogs tenacious about following The Butler Way, right into NCAA’s Final Four

Butler’s way leads to Final Four
INDIANAPOLIS – In today’s one-and-done college basketball world, team ball can be a tough sell.

At Butler, it’s the rule.
With most of its roster from Indiana or bordering states, Butler recruits are well-versed in the school’s expectations before they arrive on campus. If they’re not interested in playing the Butler way, … Read more : Bulldogs tenacious about following The Butler Way, right into NCAA’s Final Four.

Increase production of oilseeds, states told

NEW DELHI – The central government has asked the states to increase the production of oilseeds as the requirement of the crop in the country is continuously increasing.

“The domestic production of oilseeds, despite various efforts, is unable to keep pace with the demand,” said a letter sent by the agriculture ministry to the state governments …. Original article on Gaea Times at  : Increase production of oilseeds, states told.

PM enumerated for Census 2011

NEW DELHI – Prime Minister Manmohan Singh was Saturday enumerated for Census 2011. He urged the people to take part in the national population counting process as it forms the base for planning the level of India’s economic and social activities.

“The census of India is the most massive operation for compiling statistics anywhere in the [..] Read the original article: here.

Tri Energy Inc Ponzi Scheme

New York (GaeaTimes.com) – Tri Energy Inc is allegedly involved with a $50 million Ponzi Scheme. A daughter has taken brave steps against her mother who was involved with the scam. The daughter, Kim Flanigan reached her breaking point when she heard her widowed mother trying to convince a widow with nine children to invest …. Source article on Gaea Times at  : Tri Energy Inc Ponzi Scheme.

US has huge stake in closer ties with India: Geithner

WASHINGTON – The US has huge mutual stake in closer economic ties with India and a key focus of Treasury Secretary Timothy Geithner’s visit to New Delhi next week will be cooperation in the Group of 20 leading economies on three core areas: global growth, global recovery and financial reform.

“It’s about putting in place higher …. Original source  : US has huge stake in closer ties with India: Geithner.

Professional line-sitter not to get the world’s first iPad!

NEW YORK – With the iPad mania reaching its peak just hours before Apple starts selling its game-changing tablet in the US Saturday morning, there was bad news for someone special who has been heading the waiting line outside Apple’s Manhattan flagship since Tuesday to become the first person to get the gizmo.

Professional line-sitter Greg … Read more »».

Product Recalls: Some Marco Polo Shrimp Snacks

Recalls: Some Marco Polo Shrimp Snacks
The following recall has been announced:

Golden Pacific Foods, Inc. of Chino, Calif., is recalling some Marco Polo Brand Shrimp Snacks sold as Original, Onion & Garlic Flavored and Bar-B-Que Flavored, because they may contain undeclared milk and soy. People who have allergies to milk and soy run the risk of … Read : Product Recalls: Some Marco Polo Shrimp Snacks.

The Butler Way: Shoestring save typifies Butler’s unique blueprint for success

Butler’s Way leads team toward NCAA glory
INDIANAPOLIS – When Butler center Matt Howard needed an assist, it was little-used freshman Emerson Kampen who made the shoestring save.

Howard broke a shoelace before Friday’s practice – the one in front of 30,000 people at Lucas Oil Stadium – and Kampen quickly untied his left shoe, handed over … Read : The Butler Way: Shoestring save typifies Butler’s unique blueprint for success.

FBI investigating Alabama lawmakers on bill to legalize electronic bingo casinos

FBI probes Alabama lawmakers on bingo casino bill

MONTGOMERY, Ala. – The FBI is investigating possible public corruption involving Alabama lawmakers’ handling of a bill that could legalize electronic bingo casinos.
It’s the latest development in an issue that has set off angry rallies at the statehouse and caustic exchanges between political leaders.
Republican Gov. Bob Riley, who …. Source article on Gaea Times at  : FBI investigating Alabama lawmakers on bill to legalize electronic bingo casinos.

Economy adds 162,000 jobs for March, strong sign that recovery is finally taking hold

Economy adds jobs at fastest pace in three years
WASHINGTON – The nation added jobs at the fastest pace in three years last month as factories, stores, hospitals and the census all brought workers on board – the surest sign yet that the worst employment market in a generation has finally snapped back.
The unemployment [..] Read the original article: here.

Highlights of the March employment report, at a glance

Highlights of March jobs report, at a glance

The nation’s economy generated 162,000 jobs last month as the unemployment rate remained 9.7 percent for the third straight month, the Labor Department said Friday. The report is the latest sign that the economic recovery is gaining momentum.
Here are other details from the report, at a glance.
JOB MARKET … Read this article on Gaea Times at : Highlights of the March employment report, at a glance.

Deep connection: West Virginia fans form strong bond with Mountaineers on Final Four trip

WVa’s love affair with Mountaineers runs deep

INDIANAPOLIS – The people of West Virginia have always been fervent sports fans, living through the university’s football and basketball programs and Pittsburgh Pirates baseball as a means to escape what can sometimes be a tough life.
It’s the kind of place where people could, before the advent of television, …. Original source  : Deep connection: West Virginia fans form strong bond with Mountaineers on Final Four trip.

General Motors repays $1 billion of bailout, Hartford Financial repays $3.4 billion

GM, Hartford repay $4.4b of bailout money
WASHINGTON – The Treasury Department says automaker General Motors Co. and insurer Hartford Financial Services Group Inc. have repaid billions of bailout dollars.

Treasury says GM repaid $1 billion of $6.7 billion in loans it received as part of a $50 billion rescue. Hartford repaid its entire $3.4 billion bailout.
The …. Source  : Gaea News Network.

WellPoint CEO Angela Braly’s sees a 51 percent boost in compensation in 2009

WellPoint CEO gets 51 percent compensation boost

NEW YORK – The president and CEO of health insurer WellPoint Inc. received a 51 percent boost in compensation in 2009, mainly on larger grants of stock options and a performance bonus as profit and shares gained ground.
Angela Braly’s overall compensation rose to $13.1 million from $8.7 million in …. Source article on Gaea Times at  : WellPoint CEO Angela Braly’s sees a 51 percent boost in compensation in 2009.

Charlotte bowl to drop Meineke sponsorship after 2010 event after failed negotiations

Charlotte bowl to drop Meineke sponsorship

CHARLOTTE, N.C. – Organizers of the Meineke Bowl terminated their title sponsorship agreement effective after this year’s game, which means there will likely be a different name for the event in 2011.
The move this week came after the Charlotte bowl couldn’t renegotiate the contract with Driven Brands Inc., parent company … Read the original article on Gaea Times at : Charlotte bowl to drop Meineke sponsorship after 2010 event after failed negotiations.

Cowboys release Pro Bowl LT Adams and safety Hamlin 2 years after both signed long-term deals

Cowboys release Pro Bowl LT Adams, S Hamlin

IRVING, Texas – The Dallas Cowboys have released five-time Pro Bowl offensive tackle Flozell Adams and safety Ken Hamlin two years after both signed long-term contracts.
Adams was coming off his 12th season and was the longest-tenured player on the team, having started 178 of his 182 games for [..] Read the original article: here.

Ark. gov shows not all incumbents are toxic; what can other candidates learn from his example?

Ark. governor shows not all incumbents are toxic
LITTLE ROCK, Ark. – At a time when many incumbents – especially Democratic ones – are in political peril across the country, Arkansas Gov. Mike Beebe finds himself in remarkably good shape.
He is both an incumbent and a Democrat – and serving in a … Read this article on Gaea Times at : Ark. gov shows not all incumbents are toxic; what can other candidates learn from his example?.

New guidelines say homes tainted by Chinese drywall, many in the South, should be gutted

Feds: Homes with Chinese drywall must be gutted

NEW ORLEANS – Thousands of U.S. homes tainted by Chinese drywall should be gutted, according to new guidelines released Friday by the Consumer Product Safety Commission.
The guidelines say electrical wiring, outlets, circuit breakers, fire alarm systems, carbon monoxide alarms, fire sprinklers, gas pipes and drywall need to be … Original article on : New guidelines say homes tainted by Chinese drywall, many in the South, should be gutted.

Northwest Pipe hires new CEO to focus on resolving accounting investigation

New Northwest CEO to focus on investigation

VANCOUVER, Wash. – Welded steel pipe company Northwest Pipe on Friday accepted the resignation of its CEO and hired a new one as an internal investigation over accounting issues continues.
Brian Dunham will continue to serve as president and a member of the company’s board, the company said.
Replacing him as …. Source  : Northwest Pipe hires new CEO to focus on resolving accounting investigation.

US mocks Venezuelan space initiative, says Chavez should concentrate on earthly pursuits

US mocks Venezuelan space plans
WASHINGTON – The Obama administration on Friday dismissed Venezuelan President Hugo Chavez’s suggestion that his country wants to set up a space program with Russian help.
The State Department said that Venezuela and Russia are free to cooperate in any area they want but pointed out that the populist Chavez’s … Original source on Gaea Times at : US mocks Venezuelan space initiative, says Chavez should concentrate on earthly pursuits.

Thousands of jobs await Indians in Gulf: NRI industrialist

NEW DELHI – The Gulf is on the verge of a boom and there will be thousands of jobs for skilled Indians, especially in the petrochemical sector, says Ravi Pillai, managing director of the Saudi Arabia-based Nasser S. Al-Hajri Corporation.

Billions of dollars are being invested in major projects in the Gulf, particularly in Saudi Arabia … Read more >>>.

Shimla to get laser lights

SHIMLA – To make this popular tourist destination brighter, the Himachal Pradesh government is installing laser lights and high-mast lights in the town, an official said Sunday.

“Two laser lights and eight high-mast lights would be installed in the town this month. This would give the town a more fairytale look during the night,” Tourism Director … Read more >>>.

Assocham seeks service tax exemption on rural sales

NEW DELHI – The Associated Chambers of Commerce and Industry of India (Assocham) has urged the government to exempt companies from paying service tax on marketing and sales promotions in rural areas.

In a post-budget memorandum submitted to Finance Minister Pranab Mukherjee, Assocham president Swati Piramal said the next level of growth will come from rural … Original article on : Assocham seeks service tax exemption on rural sales.

India market soars for business jet makers

NEW DELHI – With the number of billionaires and high net worth individuals in India growing, business jet makers are intensifying efforts to sell their aircraft in India which industry sources say will need over 250 aircraft in the next 10 years.

“We are very optimistic about India. We have good business here as India is …. Source article on Gaea Times at  : India market soars for business jet makers.

Potato growers in Bengal stare at bleak future

KOLKATA – Potato farmers in West Bengal are battling a problem of plenty. Some are resorting to burning their crop as a bumper harvest has sent prices of the tuber nosediving, cold storage facilities are inadequate and refrigerated containers for exports are unavailabile.

The state, which is the second largest producer of potatoes in the country … Read : Potato growers in Bengal stare at bleak future.

Apple iPad will take time to hit Indian market

NEW DELHI – Craving to get your hands on the Apple iPad? Wait for a while as it will be still some time before it becomes available in the Indian market.

Experts also believe that the tablet will create a new user segment in India.
Unveiled in January, the iPad lets users browse the web, …. Source  : Gaea News Network.

Neyveli Lignite’s power plant to be ready this fiscal

CHENNAI – Power equipment major Bharat Heavy Electricals Limited (BHEL) has announced that Neyveli Lignite Corporation Limited’s (NLC) 2×250 MW Circulating Fluidised Bed Combustion (CFBC) power plant will be commissioned this fiscal.

“The project will be commissioned before the end of this fiscal. We have sorted out the technical issues,” P.R. Shriram, BHEL’s executive director, told …. Source article  : Neyveli Lignite’s power plant to be ready this fiscal.

Russia, Venezuela sign energy, defence deals

Caracas, April 4 (IANS/EFE) Venezuela and Russia have bolstered bilateral ties during a visit to the South American country by Prime Minister Vladimir Putin. They have signed dozens of accords in a range of sectors, most notably defence and energy.

At the end of the ceremony in which several of the agreements were inked, Venezuelan President … Read : Russia, Venezuela sign energy, defence deals.

Butler’s injury, rare defensive letdown doom West Virginia in 78-57 loss to Duke at Final Four

West Virginia bounced from Final Four by Duke

INDIANAPOLIS – His nose nearly touching Da’Sean Butler’s, Bob Huggins cradled his star player’s head, began stroking his face and offered a few calming words – anything he could to ease some of the agony.
The coach called “Huggy Bear” by those who know him best didn’t care about …. Read the original article  : Butler’s injury, rare defensive letdown doom West Virginia in 78-57 loss to Duke at Final Four.

Kudankulam nuclear power project delayed

CHENNAI – The delay in the arrival of components for the upcoming 2,000 MW nuclear reactor at Kudankulam in Tamil Nadu has led to the postponement of the commissioning of the first unit of the project by a few months, an official said.

Service providers for the project like the Bharat Heavy Electricals Ltd (BHEL) are … Read this article on Gaea Times at : Kudankulam nuclear power project delayed.

CAPITAL CULTURE: Adopt-a-child scam among tales from history of White House Easter Egg Roll

CAPITAL CULTURE: Tales from WH Easter Egg Roll
WASHINGTON – If it’s Easter Monday in Washington, it’s time for the White House Easter Egg Roll.
The White House is getting ready, putting on the finishing touches before the gates open and 30,000 men, women and children scramble to take part in the annual …. Source  : Gaea News Network.

Looks like an unlikely NCAA final between Duke and … Butler?

Duke in control against WV, Butler awaits
The Blue Devils’ three-headed monster has been absolutely dominant.

Jon Scheyer has a game-high 20 points to go with five assists, Nolan Smith has four 3s and 19 points, and Kyle Singler has 18 points, seven rebounds and five assists.
Throw in Brian Zoubek if you want a quartet. He has … Read more : Looks like an unlikely NCAA final between Duke and … Butler?.

Holiday bookings through ’smartphone’, a new trend: Study

BERLIN – Vacationers across the world prefer using smartphone for holiday bookings through internet to making direct calls to hotels or airlines, says a latest study.

A new trend in online tourism marketing is fast catching up and close to 25 percent of people are now reserving hotel rooms and booking flight tickets on the Apple … Read this article on Gaea Times at : Holiday bookings through ’smartphone’, a new trend: Study.

Butler in NCAA finals, Duke has comfortable lead over WV in second half

Butler in NCAA finals, Duke leading late
The Blue Devils had a hop in their step as they retreated to the sideline during a timeout, just after Nolan Smith melted down the entire shot clock before scoring on a driving layup for a 67-52 lead with just over 7 minutes to go.

The Mountaineers have been unable … Original source on Gaea Times at : Butler in NCAA finals, Duke has comfortable lead over WV in second half.

WV-Duke: Da’Sean Butler hurt and Duke is leading over West Virginia

WV-Duke: Da’Sean Butler hurt and Duke is leading

Da’Sean Butler’s rough night has just gotten a whole lot worse.
The Mountaineers’ star drove to the basket and collapsed in a heap, immediately grabbing at his left leg and holding his hand over his face. It looked like his left knee buckled as he planted just before running …. Source article on Gaea Times at  : WV-Duke: Da’Sean Butler hurt and Duke is leading over West Virginia.

Will it be Duke and Butler? Blue Devils leading WV well into second half

Will it be Duke and Butler? Blue Devils leading WV

That’s a tough series for the Deniz Kilicli. And the Mountaineers.
Kilicli got called for traveling after moving his pivot foot on offense, then came down on defense and fouled Jon Scheyer on a 3-point attempt. Scheyer made two of them to push the Blue Devils to …. Read the original article  : Will it be Duke and Butler? Blue Devils leading WV well into second half.

Final Four: Can WV rally? Mountaineers try to catch Duke

Can WV rally? Mountaineers try to catch Duke

Make it a 15-0 advantage in second-chance points for the Blue Devils, after Kyle Singler tracked down a blocked shot and found Nolan Smith wide open on the wing. His fourth 3-pointer put Duke back ahead 46-38 with 15:44 remaining.
The Blue Devils are 8 of 16 from beyond … Read more : Final Four: Can WV rally? Mountaineers try to catch Duke.

Final Four: Duke ahead early in second half as WV tries to get back in it

Final Four: Duke ahead early in second half

If the Mountaineers are going to rally against Duke, they had better start converting on the rare instances in which they pull down an offensive rebound.
West Virginia had about four tries on a trip down the floor moments ago and came away empty, and the Blue Devils still … Original article on : Final Four: Duke ahead early in second half as WV tries to get back in it.

Plant owner says V-Vehicle founder/CEO out; new CEO cancels lease but wants another agreement

Plant owner: V-Vehicle lease canceled, founder out

MONROE, La. – Founder Frank Varasano has been replaced as chief executive officer of V-Vehicle Co., the San Diego-based company created to build fuel-efficient cars, the company says.
Ray Lane, a managing partner of V-Vehicle’s largest investor – the venture capital firm Kleiner Perkins Caufield Byers LLP – is running … Read : Plant owner says V-Vehicle founder/CEO out; new CEO cancels lease but wants another agreement.

Greenberg anticipates complicated Rangers sale to be completed within a few weeks

Greenberg says Rangers sale close to finished

FRISCO, Texas – The sale of the Texas Rangers could be completed by time the team plays its second homestand of the season in late April.
Pittsburgh sports attorney Chuck Greenberg, who is heading the investment group buying the team, anticipates the complex deal to be completed the week of … Read more : Greenberg anticipates complicated Rangers sale to be completed within a few weeks.

BHEL boiler auxiliaries division cuts cost, raises profit

CHENNAI – Strategic sourcing and value engineering in production have helped Bharat Heavy Electricals Ltd’s (BHEL) boiler auxiliaries division at Ranipet near here to cut cost substantially and increase profit.

“Between September – November 2009, the steel prices went down and we bought our annual requirement then. We sourced steel at Rs.26,000-Rs.28,000 per tonne. Our …. Original source  : BHEL boiler auxiliaries division cuts cost, raises profit.

Nasscom lists Kerala IT company as top innovator of 2009

THIRUVANANTHAPURAM – Trade forum National Association of Software and Services Companies (NASSCOM) has listed Kerala-based IBS Software as one of the top 50 innovators in India for the year 2009.

The company is a technology solutions provider to the travel, transportation and logistics industries. It was nominated in the “market facing innovation” category for its product … Original article on : Nasscom lists Kerala IT company as top innovator of 2009.

Sponge iron units in Chhattisgarh hit by ore supply woes

RAIPUR – Production in some 50 sponge iron units in Chhattisgarh has been halted after private miners in neighbouring Orissa stopped supplying iron ore about a month ago, an industry official said Monday.

“Chhattisgarh has 105 sponge iron units having an annual output of 8 million tonnes, but production has been stopped completely at nearly 50 …. Read the original article  : Sponge iron units in Chhattisgarh hit by ore supply woes.

ECODISC offers new pressure relief products from its improved website

MUMBAI – The pressure relief industry’s only online supplier of rupture discs and explosion panels, ECODISC, has launched a new website (www.ecodisc.com).

The website is the only one in the sector to allow for web-based ordering through its secure online store.
With its improved design, new features and enhanced navigational and search options, ECODISC’s latest website offers … Read more >>.

Oil rises above $85 in Asia, extending rally as improving US jobs market cheers investors

Oil rises above $85 as US jobs market improves

SINGAPORE – Oil prices rose above $85 a barrel Monday in Asia, extending gains from last week as investors bet an improving U.S. job market will herald growing crude demand.
Benchmark crude for May delivery was up 30 cents to $85.17 a barrel at late afternoon Singapore time …. Original article  : Oil rises above $85 in Asia, extending rally as improving US jobs market cheers investors.

Oil rises above $86 in Asia, extending rally as improving US jobs market cheers investors

Oil rises above $86 as US jobs market improves

SINGAPORE – Oil prices rose above $85 a barrel Monday in Asia, extending gains from last week as investors bet an improving U.S. job market will herald growing crude demand.
Benchmark crude for May delivery was up 30 cents to $85.17 a barrel at late afternoon Singapore time …. Source  : Gaea News Network.

Report: North Korea executed 2 officials over botched currency reform

Report: 2 N. Koreans executed over currency reform

SEOUL, South Korea – North Korea executed two senior economic officials last month – not one as previously reported – over a botched currency revamp that forced markets to close temporarily and fueled social tensions, a media outlet that specializes in the North reported.
The communist North redenominated its …. Original source  : Report: North Korea executed 2 officials over botched currency reform.

Nepal PM summoned over Indian passport deal

KATHMANDU – The uproar in Nepal over the government’s decision to award a prestigious passport deal to an Indian company continued Monday with a parliamentary committee summoning Prime Minister Madhav Kumar Nepal for an explanation.

The prime minister, who is facing mounting pressure from the opposition Maoist party to quit, appeared before the Public Accounts Committee … Original source on Gaea Times at : Nepal PM summoned over Indian passport deal.

Niche airline operators eye the versatile Twin Otter

NEW DELHI – India’s niche airline operators have shown interest in the Twin Otter small aircraft that has the unique ability to operate from land, water or snow and also has applications in the defence sectors.

“Companies like Pawan Hans and (regional airline) Air One, as also corporates like Essar and Religare, have expressed …. Source  : Gaea News Network.

Oil rises to near $86 in Asia, extending rally as improving US jobs market cheers investors

Oil rises to near $86 as US jobs market improves

SINGAPORE – Oil prices jumped to near $86 a barrel Monday in Asia, extending gains from last week as investors bet an improving U.S. job market will herald growing crude demand.
Benchmark crude for May delivery was up 80 cents to $85.67 a barrel at midday Singapore … Read more »».

Most Asian stock markets gain as US jobs report suggests consumption improving

Asian shares advance on US jobs market recovery

SINGAPORE – Asian stock markets were mostly higher Monday after an encouraging U.S. jobs report offered the latest sign the global economy is on the mend.
Japan’s Nikkei 225 stock average rose 0.5 percent to 11,339.30, Singapore’s benchmark index also increased 0.5 percent, Indonesia jumped 1.7 percent and India …. Source  : Most Asian stock markets gain as US jobs report suggests consumption improving.

Japan stock market advances on US jobs report, weaker yen

Asian shares modestly up in early trading
TOKYO – Asian stock markets made modest gains in early trading Monday after an encouraging U.S. jobs report offered the latest sign the global economy is on the mend.

Japan’s Nikkei 225 stock average rose 0.5 percent to 11,343.65, while South Korea’s Kospi index was flat at 1,722.97.
On Friday, the …. Read the original article  : Japan stock market advances on US jobs report, weaker yen.

US jobs report sends Asian stock markets higher in early trading

Asian stock markets rise in early trading
TOKYO – Asian stock markets climbed in early trading Monday after an encouraging U.S. jobs report offered the latest sign the global economy is on the mend.

Japan’s Nikkei 225 stock average rose 0.6 percent to 11,349.73, while South Korea’s Kospi index added 0.3 percent to 1,729.27.
On Friday, the U.S. …. Source  : Gaea News Network.

SandRidge Energy shifting focus to oil from natural gas with $1.6 billion Arena buy

SandRidge to buy Arena Resources for $1.6B

Oil and gas explorer SandRidge Energy Inc. is buying fellow developer Arena Resources Inc. for $1.6 billion as the continued drop in natural gas prices drives a bigger focus on oil resources, the companies said Sunday.
Arena shareholders will receive $2.50 in cash and about 4.78 shares of SandRidge stock …. Original article  : SandRidge Energy shifting focus to oil from natural gas with $1.6 billion Arena buy.

Egypt release publisher of book that supports former UN nuclear chief, calls for change

Egypt police release publisher of book
CAIRO – An Egyptian official says police have released the owner of a publishing house which printed copies of a book that called for political change and praised the former head of the U.N. nuclear agency.

Ahmed Mahanna, owner of Dawin publishing, was released Sunday, a day after his home and … Original article on : Egypt release publisher of book that supports former UN nuclear chief, calls for change.

Health care reform promise explicitly excludes millions of illegal immigrants

Health care reform leaves out illegal immigrants
FRESNO, Calif. – Paula Medrano shifts uncomfortably on the doctor’s examination table, holding out a wrist inflamed and swollen by arthritis. The 78-year-old has no health insurance, lives below the federal poverty level, and can’t pay for the medication she needs.
Just days before her appointment, President Barack …. Read the original article  : Health care reform promise explicitly excludes millions of illegal immigrants.

West Virginia’s NCAA loss spreads disappointment across a state, down into its coal mines

Mountaineers’ season ends in mountain of pain

INDIANAPOLIS – The hometown coach takes the hometown team to the Final Four, one game away from breaking a 106-year drought without a championship.
The run by West Virginia drew jaw-dropping support across the state, even down into the coal mines dotting the rugged landscape. To the fans, the coach, …. Source  : Gaea News Network.

Water bills go up in down economy as usage drops from slow manufacturing, real estate, tourism

Water bills go up in down economy as usage drops

PORTLAND, Maine – The grim economy is hitting some consumers in the wallet in yet another way: their water bills.
Many water utilities are raising rates because water use is down. That’s partly because manufacturers have closed or are cutting back, tourism has fallen and the real … Read : Water bills go up in down economy as usage drops from slow manufacturing, real estate, tourism.

World’s tallest tower in Dubai reopens observation deck 2 months after elevator malfunction

World’s tallest tower in Dubai reopens
DUBAI, United Arab Emirates – The observation deck of the world’s tallest skyscraper reopened Sunday in Dubai, two months after an elevator malfunction left visitors trapped more than 120 stories above the ground and forced it to close.

Dozens of tourists were lining up Sunday for tickets to take an elevator … Read more : World’s tallest tower in Dubai reopens observation deck 2 months after elevator malfunction.

White House: Expect slow jobs rebound even as economy shows signs of reversing downward spiral

White House braces unemployed for slow job rebound
WASHINGTON – Buoyed by good news on the jobs front, the White House claimed credit Sunday for reversing the downward economic spiral while bracing out-of-work Americans for a slow recovery.
The Obama administration also eased away from confrontation with China over its artificially low … Read this article on Gaea Times at : White House: Expect slow jobs rebound even as economy shows signs of reversing downward spiral.

India, US launch financial, economic partnership

NEW DELHI – India and the United States Tuesday launched a financial and economic partnership, focussing on micro-economic finance and infrastructure, in an effort to elevate their bilateral relations.

Finance Minister Pranab Mukherjee and visiting US Treasury Secretary Timothy Geithner signed the partnership agreement here.
“India and the United States are bound by common values of …. Source article on Gaea Times at  : India, US launch financial, economic partnership.

Spanish jobless claims up by 35,988 in March, less than in previous months

Spanish unemployment claims at 4.16 million

MADRID – The number of people signing for unemployment benefits in Spain rose by 35,988 in March, an improvement from previous months which politicians claimed as proof the country is slowly emerging from a crippling recession.
The monthly increase meant a total of 4.17 million people were now claiming unemployment benefits, …. Source  : Gaea News Network.

Force India’s Belgium podium voted 2009 LG moment of the year by fans

NEW DELHI – Formula OneT fans have voted Force India’s achievement at the 2009 Formula 1 Belgian Grand Prix their LG Moment of the Year for 2009, as the results of the latest LG Global Fan Survey went public in this month’s F1 Racing magazine.

Close to 90,000 people worldwide who took part in the wide-ranging …. Original article  : Force India’s Belgium podium voted 2009 LG moment of the year by fans.

SERV Trayvou introduces new range of modular interlocks to Indian market

MUMBAI – French safety specialist SERV Trayvou Interverrouillage has introduced a new range of modular and completely mechanical interlocks, the NX.

The NX range comprises mechanical bolt locks, modules such as clasps for padlocks or electrical safety contacts, and accessories, including different types of access latch. The system relies on trapped-key technology.
Because it is a modular … Read : SERV Trayvou introduces new range of modular interlocks to Indian market.

Differences within Jharkhand BJP over LPG subsidy

RANCHI – The Jharkhand government’s decision to withdraw subsidy on gas cylinders for domestic use has brought to the open the internal squabbling within the Bharatiya Janata Party, a partner in the Shibu Soren-led coalition government.

On the first day of the new fiscal, finance minister Raghubar Das, who is also the state BJP president and …. Source article  : Differences within Jharkhand BJP over LPG subsidy.

Oil hovers above $86 near 18-month high in Asia after 2-month, 24 percent rally

Oil hovers above $86 after 2-month, 24 pct rally

SINGAPORE – Oil prices hovered near 18-month highs above $86 a barrel Tuesday in Asia as traders mulled whether a recovering U.S. economy warranted further gains.
Benchmark crude for May delivery was down 20 cents to $86.42 a barrel at midday Singapore time in electronic trading on the … Read the original article on Gaea Times at : Oil hovers above $86 near 18-month high in Asia after 2-month, 24 percent rally.

Russia’s Novolipetsk Steel reports $294 million net profit in 4th quarter

Novolipetsk Steel makes Q4 net profit
MOSCOW – Russian steelmaker Novolipetsk Steel said Tuesday it made a net profit of $294 million in the fourth quarter, compared with a loss a year earlier, on the back of strong metals prices.

Russia’s third-biggest steelmaker is owned by Vladimir Lisin, who has been listed by Forbes magazine as the …. Source  : Russia’s Novolipetsk Steel reports $294 million net profit in 4th quarter.

Top RNC official quits amid criticism over spending, but Steele says he won’t resign

RNC official steps down, but Steele stands firm

WASHINGTON – The controversy over Republican National Committee spending has led to the resignation of its chief of staff, but party Chairman Michael Steele remains insistent that he isn’t going anywhere.
The resignation of RNC chief of staff Ken McKay on Monday made him the highest-profile official to depart …. Original source  : Top RNC official quits amid criticism over spending, but Steele says he won’t resign.

Red Shirt protesters flood streets of Thai capital after breaking police lines

Red Shirt protesters flood streets of Thai capital

BANGKOK – Thousands of anti-government demonstrators broke through police and military lines Tuesday to flood the streets around Bangkok’s business district and other areas of Thailand’s capital.
The Red Shirt protesters, many on motorcycles, massed near Silom Road, a financial center, from the commercial shopping district they had occupied [..] Read the original article: here.

Australia not to supply uranium to India

MELBOURNE – Australia Tuesday ruled out changing its policy and said it would not supply uranium to India, which is seeking fuel for its nuclear energy programme, a media report said.

Australian Trade Minister Simon Crean told reporters in Canberra: “There is no prospect for a change.
“We have consistently said, made this clear to … Read more : Australia not to supply uranium to India.

For American business, India is the new land of opportunity

WASHINGTON – From healthcare to technology to media, there is growing excitement in every sector in the United States about India, not just because it’s cheaper to do business in India but for the opportunities that a nation of 1.2 billion people with its growing economy offers.

This came out loud and clear at Duke University’s …. Original source  : For American business, India is the new land of opportunity.

Asian stock markets mixed as traders mull how much recovering US economy can boost region

Asian stock markets mixed as US economy recovers

SINGAPORE – Asian stock markets were mixed Tuesday as traders mulled whether a recovering U.S. economy would allow the region to continue to expand at a breakneck pace.
Australia’s benchmark S&P/ASX 200 index led gainers, jumping 0.9 percent to 4,953.70 while Singapore rose 0.4 percent and Malaysia increased 0.2 … Read more : Asian stock markets mixed as traders mull how much recovering US economy can boost region.

Money Market Operations as on April 01, 2010

… Original article on : Money Market Operations as on April 01, 2010.

Money Market Operations as on April 3, 2010

… Original article on : Money Market Operations as on April 3, 2010.

Issue of Rs.20/- denomination banknotes with `R’ Inset letter in both numbering panels in Mahatma Gandhi Series ??? 2005 bearing the signature of Dr. D. Subbarao, Governor

The Reserve Bank of India will shortly issue Rs.20/- denomination banknotes with `R’  inset letter in both numbering panels in Mahatma Gandhi Series – 2005 bearing the signature of Dr. D. Subbarao, Governor.  Except for the change in the inset letter, the design of these notes to be issued … Read : Issue of Rs.20/- denomination banknotes with `R’ Inset letter in both numbering panels in Mahatma Gandhi Series ??? 2005 bearing the signature of Dr. D. Subbarao, Governor.

Ways and Means Advances to the Government of India for the Financial Year 2010-11

It has been decided in consultation with the Government of India that the following arrangements will be in force for the financial year 2010-11.
The limit for Ways and Means Advances (WMA) will be Rs.30,000 crore for the first half of the year …. Read the original article  : Ways and Means Advances to the Government of India for the Financial Year 2010-11.

RBI further expands coverage of its “Database on Indian Economy”

The Reserve Bank of India has further expanded the coverage of its "Database on Indian Economy", an on-line database built on the data warehousing technology with enhanced functionality, to include static reports on Urban Cooperative Banks and Rural Cooperative Banks. With the release of these data series, the Database … Read more >>.

Money Market Operations as on April 5, 2010

… Read more »».

Hitachi president says ecological business, social infrastructure key to recovery

Hitachi president says green focus key to recovery

TOKYO – Money-losing Hitachi will focus on ecological businesses including hybrid railways and batteries for green cars in its latest effort to return to profitability, its new president said Tuesday.
The electronics maker must use its sprawling assets in telecommunications and “social infrastructure” such as power systems and data …. Read the original article  : Hitachi president says ecological business, social infrastructure key to recovery.

Healed, healthy Placido Domingo opens latest NY restaurant, ready to sing after cancer surgery

Healthy Domingo opens NY restaurant, ready to sing

NEW YORK – Placido Domingo is back – ready to sing around the world.
But first, on Monday, the star tenor opened his new Manhattan restaurant – four weeks after colon cancer surgery.
“I was lucky to have the pain,” said the 69-year-old Spaniard, who was forced to interrupt a …. Source  : Gaea News Network.

IMF inspectors to meet Greek finance minister amid volatile borrowing costs

IMF, Greek officials to meet amid market worries

ATHENS, Greece – Inspectors from the International Monetary Fund will meet Greece’s finance minister to find ways to speed up fiscal reforms, as the debt-plagued country continues to grapple with volatile borrowing costs.
Wednesday’s meeting with George Papaconstantinou, which will be closed to the news media, comes at the … Read more >>>.

Renault-Nissan and Daimler agree to tie-up aimed at developing fuel efficient vehicles

Renault-Nissan, Daimler unveil tie-up plan

BRUSSELS – Carmakers Renault SA, Nissan Motor Co. and Daimler AG unveiled Wednesday a wide-ranging three-way tie-up to bolster their offerings in small, energy-efficient vehicles.
The partnership comes amid a painful industrywide slump and will be sealed with a cross-shareholding giving the three companies small, symbolic stakes in each other. The move … Read : Renault-Nissan and Daimler agree to tie-up aimed at developing fuel efficient vehicles.

India’s seafood exports to rise

KOCHI – Seafood exports are set to rise this fiscal due to favourable policies of the central government and the industry’s expansion to new markets in China and Southeast Asia, according to the Seafood Exporters Association of India (SEAI).

SEAI secretary Sandu Joseph told IANS that seafood exports till the end of January had registered a … Read : India’s seafood exports to rise.

Hyundai launches new i20 compact car

NEW DELHI – Hyundai Motor India Ltd (HMIL) Wednesday launched a new i20 car with two additional variants – Era and Sportz – priced in the range of Rs.4.51-5.31 lakh.

“We are pleased to announce the launch of the i20 with new features and two additional variants. While the variants are targeted at our customers who …. Original source  : Hyundai launches new i20 compact car.

Leader of striking employees held in Kashmir

SRINAGAR – The head of the Employees Joint Action Committee (EJAC), spearheading the Jammu and Kashmir government employees’ strike that entered its third day Wednesday, has been taken into “preventive custody” to maintain law and order, police said.

Abdul Qayoom Wani was nabbed from Srinagar’s Parimpora area.
“He has been taken into preventive custody in … Read more »».

Toyota warned European distributors about pedal problems well before telling US government

Europeans warned of Toyota pedals well before US

WASHINGTON – Long before Toyota told U.S. regulators about sticking accelerator pedals, the Japanese automaker warned its distributors throughout Europe about similar problems, documents obtained by The Associated Press show.
Concerns about sticking gas pedals and complaints from Toyota owners in the U.S. were rising at the end of …. Source  : Gaea News Network.

10 Common Mistakes in Filing Online Tax Returns in USA

CALIFORNIA (GaeaTimes.com) — Tax returns in USA is used for calculating income tax or other taxes. Tax returns are one type of reports filed with the Internal Revenue Service (IRS) or with the state or local tax collection agency. The easiest and convenient way for tax returns is Efiling. But while filing tax returns … Read more »».

Underwriting Auctions for Government securities

The Government of India have announced the sale (reissue) of “6.85 per cent Government Stock 2012 “ for a notified amount of Rs. 5,000 crore (nominal), “6.35 per cent Government Stock 2020” for a notified amount of Rs.5,000 crore (nominal)  and "8.26 per cent Government Stock 2027"  for …. Source  : Underwriting Auctions for Government securities.

IDFC, IDEAcarbon enter into alliance to enhance carbon market mechanisms in India

MUMBAI – Infrastructure Development Finance Company Ltd. (IDFC) and IDEAcarbon, the company that instituted ratings of carbon assets, signed a strategic working alliance today to encourage the adoption of ratings of environmental assets by market participants and develop other products to help a structured growth of the Indian carbon market.

IDEAcarbon, that owns The Carbon Rating …. Original source  : IDFC, IDEAcarbon enter into alliance to enhance carbon market mechanisms in India.

‘Love motel’ upsets neighbours in New Zealand

AUCKLAND – New Zealand’s first so-called “love motel”, which will allow its customers to book rooms on hourly basis for “private intimacy”, is sparking outrage in Auckland with neighbours saying it is nothing more than a sleazy brothel.

The motel Desire will look just like other love motels around the world where couples and singles … Read : ‘Love motel’ upsets neighbours in New Zealand.

Unemployment rises to 14-year high in Spain

Madrid, April 7 (IANS/EFE) The number of jobless people in Spain has risen to a 14-year high of more than 4.16 million, with the addition of another 35,998 to the unemployment rolls in March, the government has said.

Unemployment has grown for eight consecutive months, and by 561,221 people, the Labour and Immigration Ministry said … Read more : Unemployment rises to 14-year high in Spain.

Woof! It’s a dog’s world at Kerala supermarket

THRISSUR – Thrissur is fast becoming the “kennel capital” of Kerala, thanks to a supermarket for dogs. From NRIs to foreigners, people are flocking to it for electronic toys, toothbrushes, vaccines, shoes and more – all for the canines.

Owned by Anoj Cheeran, the supermarket is known as “Cheeran’s”. It has been in business for five …. Read the original article  : Woof! It’s a dog’s world at Kerala supermarket.

33 firms fined for deforestation in Brazil

Brasilia, April 7 (IANS/EFE) Thirty-three companies in Brazil have been fined for deforestation and irregularities in managing their industrial activities, the Brazilian Environmental Institute (Ibama) has said.

The violators, most of them operating in the Amazon region, were fined a total of 275 million reais ($152.7 million) and most of the sanctions were due to … Read more >>.

Spain sets $789 mn budget for electric vehicles

Madrid, April 7 (IANS/EFE) Spain has presented a 590-million euro ($789 million) budget to promote electric vehicles in the country and is set to register more than 70,000 all-electric and hybrid cars by 2012.

The aim is a total registration of 250,000 units by 2014, Prime Minister Jose Luis Rodriguez Zapatero said Tuesday.
Subsidies of … Original source on Gaea Times at : Spain sets $789 mn budget for electric vehicles.

Oil hovers below $87 in Asia after mixed US crude, gasoline inventory report

Oil hovers below $87 after mixed US supply report

SINGAPORE – Oil prices hovered below $87 a barrel Wednesday in Asia after a report showed U.S. gasoline supplies fell more than expected last week while crude and distillate inventories rose.
Benchmark crude for May delivery was down 1 cent to $86.83 a barrel at late afternoon Singapore … Original source on Gaea Times at : Oil hovers below $87 in Asia after mixed US crude, gasoline inventory report.

SEC would require Wall St. firms to provide fuller disclosure on asset-backed securities

SEC seeks tighter rules on asset-backed securities

WASHINGTON – Remember mortgage-backed securities? They were the go-go house of cards that collapsed and nearly brought down the financial system, helping usher in the recession.
In response, lawmakers and government agencies have been trying to lay down stricter rules for asset-backed securities.
The Securities and Exchange Commission will weigh in …. Source article on Gaea Times at  : SEC would require Wall St. firms to provide fuller disclosure on asset-backed securities.

Earlier Easter, signs of consumer strength likely helped March sales rise in many sectors

Shoppers likely gave March sales Easter boost

NEW YORK – An earlier Easter and modest consumer spending rebound helped retail sales rise in March, particularly furniture and luxury goods, categories that were the worst hit during the recession, according to an early measurement.
The latest numbers out Wednesday from MasterCard Advisor’s SpendingPulse show sales rose in most …. Original article on Gaea Times at  : Earlier Easter, signs of consumer strength likely helped March sales rise in many sectors.

Japan central bank keeps key interest rate unchanged at 0.1 percent

Japan central bank stays put on interest rates

TOKYO – Japan’s central bank kept its key interest rate unchanged and held off on new easing steps Wednesday, saying the economy is improving.
The Bank of Japan’s policy board voted unanimously to keep its overnight call rate at a super-low 0.1 percent. The bank has not tweaked that … Read : Japan central bank keeps key interest rate unchanged at 0.1 percent.

Fruita voters make town first in Colorado to impose extra tax on medical marijuana

In Colorado town, voters tax pot before it arrives

FRUITA, Colo. – A small western Colorado town has become the first in the state to levy a city tax on medical marijuana, even though it doesn’t yet have a dispensary.
Voters in Fruita, a town of about 11,000 at the foot of the majestic Colorado National Monument, …. Read the original article  : here.

Asian stock markets mostly rise on hopes low interest rates will boost economic growth

Asian shares higher amid strong economic growth

SINGAPORE – Asian stock markets were mostly higher Wednesday amid expectations low global interest rates will continue to fuel strong economic growth.
Hong Kong’s Hang Seng stock index jumped 1.8 percent while Thailand rose 1.3 percent and Singapore gained 0.7 percent. China’s Shanghai index fell 0.3 percent and Malaysia, Australia, …. Original source  : Asian stock markets mostly rise on hopes low interest rates will boost economic growth.

Pressure on Greek finances intensifies as borrowing costs spike for 3rd consecutive day

Greek borrowing costs hit new record high
ATHENS, Greece – Greece’s borrowing costs have spiked higher for a third day, intensifying the country’s debt crisis and suggesting a eurozone rescue program is providing little support.

The interest rate gap, or spread, between Greek 10-year government bonds and the German equivalent, considered a benchmark of stability, spiraled to …. Original article  : Pressure on Greek finances intensifies as borrowing costs spike for 3rd consecutive day.

Air India in 190 million dollars deal for SITA’s horizon passenger services system

NEW DELHI – The National Aviation Company of India (NACIL) today announced that SITA, the aviation IT specialist, has been selected to provide its hosted Horizon Passenger Services System (PSS) to Air India on a turnkey basis following a global competitive tendering process. The deal with the 13.5 million … Original article on : Air India in 190 million dollars deal for SITA’s horizon passenger services system.

Lawmakers want State Department to rethink Cuba aid program’s shift to private contractors

US funding of Cuba democracy work draws scrutiny
MIAMI – During the waning months of 2008, the Bush administration quietly pushed through two major contracts to international development companies in an effort to spend a record $45 million to support regime change in Cuba.
It was the first time Cuba funds went to private contractors, … Read more »»».

European Central Bank set to keep rates on hold as recovery from recession proves paltry

European Central Bank set to keep rates unchanged

LONDON – The European Central Bank is set to indicate Thursday that borrowing costs will remain low for much, if not all, of this year as the recovery from recession in the 16 countries that use the euro currency remains fragile.
In the press conference following the widely expected [..] Read the original article: here.

Marks & Spencer sales up 5 percent in 13 weeks to March 27, better than forecast

Marks & Spencer Q4 sales rise 5 pct
LONDON – British food and clothing retailer Marks & Spencer Group PLC said Thursday that sales in its fourth quarter were up 5 percent, better than forecast, led by a 10 percent jump in non-food sales in its home market.

The figures cover the 13 weeks to March 27 … Original source on Gaea Times at : Marks & Spencer sales up 5 percent in 13 weeks to March 27, better than forecast.

Executive at Toyota urged automaker to ‘come clean’ about problems with its gas pedals

Toyota exec urged automaker to ‘come clean’

WASHINGTON – In the days leading up to its massive recall in January, Toyota executives debated when they should inform the public about safety problems with accelerator pedals, prompting one executive to urge the company to “come clean,” according to documents obtained by The Associated Press.
Irv Miller, Toyota’s then-group …. Source  : Executive at Toyota urged automaker to ‘come clean’ about problems with its gas pedals.

British Airways and Iberia sign merger deal to create one of world’s biggest airline groups

BA and Iberia sign merger deal
LONDON – British Airways PLC and Spain’s Iberia SA signed a merger agreement on Thursday, moving a step closer to completing a long-awaited deal to create Europe’s third largest airline and secure the two loss-making carriers’ future.

The companies plan to finalize the tie-up, forming a carrier with a market value …. Original article  : British Airways and Iberia sign merger deal to create one of world’s biggest airline groups.

BEE launches national awareness programme on standards and labeling for air conditioners

MUMBAI – Bureau of Energy Efficiency (BEE), a statutory body under the Union Ministry of Power, has launched a national education programme on star labeling for air conditioners.

BEE, with support from Emerson Climate Technologies and International Copper Association, will conduct a comprehensive education programme across India aimed at the sales channels and end users to … Read more : BEE launches national awareness programme on standards and labeling for air conditioners.

H&M 1st quarter profit rises 45 percent on higher sales, store expansion

H&M Q1 profit rises 45 pct on store expansion

STOCKHOLM – Swedish fashion chain Hennes & Mauritz AB on Thursday said profits rose 45 percent in first quarter, helped by higher sales and an increased number of stores.
Europe’s No. 2 fashion retailer said net profit in the three months to Feb. 28, its fiscal first quarter, … Read more »».

Peabody Energy complains to Australian regulator about Macarthur Coal handling of takeover bid

Peabody Energy complains about Macarthur Coal

SYDNEY – U.S.-based Peabody Energy has filed a formal complaint with Australian regulators over Macarthur Coal Ltd.’s handling of a $3.3 billion takeover offer that Macarthur rejected this week.
Peabody complained to the Takeovers Panel that Macarthur, a major exporter of pulverized coal used by steelmakers, failed to provide shareholders with …. Original source  : Peabody Energy complains to Australian regulator about Macarthur Coal handling of takeover bid.

Oil hovers below $86 in Asia as tepid US crude demand stalls 2-month rally

Oil hovers below $86 as 2-month rally stalls

SINGAPORE – Oil prices hovered below $86 a barrel Thursday in Asia after the U.S. reported rising crude inventory levels, suggesting demand remains muted.
Benchmark crude for May delivery was down 9 cents to $85.79 a barrel at late afternoon Singapore time in electronic trading on the New York … Read more : Oil hovers below $86 in Asia as tepid US crude demand stalls 2-month rally.

Rubin, Prince to be pressed by inquiry panel on Citigroup’s role in mortgage debt meltdown

Ex-Citi executives face questions on mortgages

WASHINGTON – Two former top executives of Citigroup Inc. are expected to be pressed by a special panel about the banking titan’s role in spreading high-risk mortgage debt through the financial system.
Robert Rubin, a former U.S. Treasury secretary who was a senior adviser and chairman of Citigroup during the mortgage … Read more »»».

United and US Airways in merger talks, picking up where they left off in 2008

United, US Airways in merger talks
MINNEAPOLIS – The CEOs of United Airlines and US Airways have both been up front about their desire to merge with another airline. Now it appears they’re talking to each other.

The two are in talks about a combination that would create the nation’s second-biggest airline, a person with knowledge of … Read more >>>.

Today in History

Today in History
Today is Thursday, April 8, the 98th day of 2010. There are 267 days left in the year.

Today’s Highlight in History:
On April 8, 1974, Hank Aaron of the Atlanta Braves hit his 715th career home run in a game against the Los Angeles Dodgers, breaking Babe Ruth’s record.
On this date:
In 1513, explorer Juan …. Source  : Gaea News Network.

Protesters prepare for mass rally, defy state of emergency decree in Bangkok

Protesters defy state of emergency in Bangkok

BANGKOK – Defiant anti-government demonstrators dared Thailand’s government Thursday to break up their escalating protests, vowing to stage a mass rally in the capital despite a state of emergency that empowers the military to move against large gatherings.
The country’s beleaguered prime minister declared the emergency Wednesday night after protesters … Original source on Gaea Times at : Protesters prepare for mass rally, defy state of emergency decree in Bangkok.

Money Market Operations as on April 07, 2010

…. Read the original article  : here.

Asian markets fall, led by Japan, as investors look for catalyst to extend year-long surge

Asian stocks drop as investors eye global recovery

SINGAPORE – Asian stock markets slumped Thursday as investors mulled whether the global economic recovery is strong enough to justify extending a year-long surge in equities.
Japan’s benchmark Nikkei 225 stock average fell 124.63 points, or 1.1 percent, to 11,168.20 while Indonesia dropped 1.4 percent, Malaysia slid 0.9 percent …. Source article on Gaea Times at  : Asian markets fall, led by Japan, as investors look for catalyst to extend year-long surge.

US judge seizes $105 million from Argentina, saying central bank lacks independence

US judge seizes $105 million in Argentine funds

BUENOS AIRES, Argentina – Argentina quickly said it would file a court appeal after a U.S. federal judge ruled Wednesday that bondholders can seize $105 million in Argentine central bank deposits held in the United States.
A bank spokesman told The Associated Press that Argentina was optimistic because similar …. Source article  : US judge seizes $105 million from Argentina, saying central bank lacks independence.

US court won’t stop April 27 auction of Philly newspapers, but fast-tracks appeal on bid rules

No delay of April 27 auction for Philly newspapers

PHILADELPHIA – Creditors hoping to take over Philadelphia’s two largest newspapers lost a motion Wednesday to delay a scheduled bankruptcy auction this month, but a U.S. appeals court agreed to expedite their request to reconsider a crucial bid issue.
Secured creditors want the full 3rd U.S. Circuit Court …. Read the original article  : US court won’t stop April 27 auction of Philly newspapers, but fast-tracks appeal on bid rules.

Monsanto, Netflix, Massey Energy, Family Dollar Stores among big market movers Wednesday

Monsanto, Netflix, Massey Energy are big movers

NEW YORK – Stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange and Nasdaq Stock Market:
NYSE:
Monsanto Co., down $1.44 at $68.09
Sliding prices for the seed maker’s popular herbicide hurt profit, and cutting seed prices will hurt its income for the next two years.
CKE Restaurants … Original source on Gaea Times at : Monsanto, Netflix, Massey Energy, Family Dollar Stores among big market movers Wednesday.

Oil rises above $87 in Asia as investors eye stronger US economy, possible yuan revaluation

Oil up above $87 on signs of stronger US economy

SINGAPORE – Oil prices rose above $86 a barrel Friday in Asia after robust U.S. retail sales in March pointed to growing consumer demand in the world’s biggest energy market.
Benchmark crude for May delivery was up 71 cents to $86.10 a barrel at late afternoon Singapore …. Original article on Gaea Times at  : Oil rises above $87 in Asia as investors eye stronger US economy, possible yuan revaluation.

German exports rebound in February, increase by 5.1 percent on month

German exports rebound in February
BERLIN – Official figures show that German exports rebounded in February – increasing by 5.1 percent on the month after declining in January.

The Federal Statistical Office also said Friday that exports were up a strong 9.6 percent on the year in February.
Exports traditionally power the German economy. The country is the … Original article on : German exports rebound in February, increase by 5.1 percent on month.

As the head of government, Obama is forced to remind voters that government isn’t all bad

Obama reminding voters government not all bad
WASHINGTON – As a candidate, Barack Obama pledged to “make government cool again.” After a year that gave birth to the anti-government tea party movement, the president can hardly claim to have succeeded.
Now, Obama appears to be embracing a humbler goal: making the case that …. Source article  : As the head of government, Obama is forced to remind voters that government isn’t all bad.

ASEAN urges Myanmar to ensure its elections later this year ‘inclusive,’ free and fair

SE Asian leaders urges credible Myanmar elections

HANOI, Vietnam – Southeast Asian leaders urged Myanmar’s isolated military regime Friday to hold “inclusive” elections amid controversy over planned polls the opposition has vowed to boycott and denounced as designed to extend the junta’s rule.
The 16th annual summit of the Association of Southeast Asian Nations wrapped up Friday …. Source article on Gaea Times at  : ASEAN urges Myanmar to ensure its elections later this year ‘inclusive,’ free and fair.

Alaska issues 1st commercial cheese-making rules in response to growth in mom-and-pop dairies

Goat farms spur growth in Alaskan cheese making

JUNEAU, Alaska – When Jennifer Ansley saw goats for the first time at a state fair, her heart nearly skipped a bleat.
“Oh, that’s what I want,” she told her husband. “I’m going to learn to make cheese. And I did.”
A decade later, Ansley is among a growing number …. Source  : Alaska issues 1st commercial cheese-making rules in response to growth in mom-and-pop dairies.

ASEAN chair urges Myanmar to ensure its elections later this year are free and fair

SE Asian leaders urge open elections in Myanmar

HANOI, Vietnam – Southeast Asian leaders urged Myanmar’s isolated military government to hold free and fair elections later this year and pledged Friday to enhance economic cooperation among themselves as they ended a regional summit.
“The elections should be free and democratic with the participation of all parties,” said … Read the original article on Gaea Times at : ASEAN chair urges Myanmar to ensure its elections later this year are free and fair.

Jones Soda’s New President, CEO is Meissner

New York (GaeaTimes.com) Jones Soda has named its new President, CEO this Wednesday. Joth Ricci has left the company to pursue other opportunities and beverage industry veteran William R. Meissner is chosen as the new President and CEO.

Meissner was president of privately held Talking Rain beverages and was the chief marketing officer for Fuze [..] Read the original article: here.

Asian markets mostly higher as investors look to next week’s first quarter GDP numbers

Asian markets mostly higher as traders eye 1Q GDP

SINGAPORE – Asian stock markets were mostly higher Friday ahead of the region’s first peek next week at first quarter economic growth numbers.
Hong Kong’s benchmark Hang Seng index led gainers, advancing 1.6 percent while India rose 1.4 percent, China increased 0.9 percent, Malaysia inched up 0.4 percent, … Original source on Gaea Times at : Asian markets mostly higher as investors look to next week’s first quarter GDP numbers.

Oil rises to near $86 in Asia as investors eye stronger US economy, possible yuan revaluation

Oil rises near $86 on signs of stronger US economy

SINGAPORE – Oil prices rose to near $86 a barrel Friday in Asia after robust U.S. retail sales in March pointed to growing consumer demand in the world’s biggest energy market.
Benchmark crude for May delivery was up 32 cents to $85.71 a barrel at midday Singapore … Read the original article on Gaea Times at : Oil rises to near $86 in Asia as investors eye stronger US economy, possible yuan revaluation.

Asian markets mixed as investors look to next week’s first quarter GDP numbers

Asian markets mixed as investors eye 1Q GDP data

SINGAPORE – Asian stock markets were mixed Friday ahead of the region’s first peek next week at first quarter economic growth numbers.
South Korea’s Kospi index led decliners, slipping 1.3 percent to 1,711.37 while Hong Kong rose 0.5 percent and Malaysia gained 0.2 percent.
Japan, China, Australia, Singapore and …. Original source  : Asian markets mixed as investors look to next week’s first quarter GDP numbers.

Former execs, regulators to face questions about Fannie Mae’s role in housing bust

Ex-Fannie Mae executives to face special panel

WASHINGTON – Two former top executives of Fannie Mae will face questions Friday about the government-created mortgage titan’s role in fomenting the housing boom and its eventual bust.
Daniel Mudd, Fannie Mae’s chief executive during the housing boom, and Robert Levin, the company’s former chief business officer, are due to …. Source  : Former execs, regulators to face questions about Fannie Mae’s role in housing bust.

Officials: CO deputy on leave after shocking high school students with stun gun at career fair

Officials: Colo. deputy used stun gun on students

LEADVILLE, Colo. – A sheriff’s deputy in Colorado has been placed on unpaid administrative leave after he used a stun gun to shock 30 students at a high school career fair.
Officials with Lake County High School, in the small central Colorado town of Leadville, say the students asked …. Read the original article  : Officials: CO deputy on leave after shocking high school students with stun gun at career fair.

Union Pacific: Court fight over $61M in fines for drugs on trains continues after talks fail

Talks break down over fines for drugs on trains

OMAHA, Neb. – The long-running dispute between Union Pacific Corp. and the federal government about restricting drug smuggling on trains crossing from Mexico returned to court Thursday after the railroad said settlement talks over the $61.2 million in fines fell apart.
The railroad asked a federal judge in …. Source  : Union Pacific: Court fight over $61M in fines for drugs on trains continues after talks fail.

Money Market Operations as on April 08, 2010

… Read more »».

Most Asian markets open higher in early trading after gains on Wall Street

Most Asian markets open higher in early trading

TOKYO – Most Asian stock markets edged up in early trading Friday, led by overnight gains on Wall Street as strong U.S. retail sales data boosted confidence in a recovery in the world’s biggest economy.
Australia’s benchmark rose 0.1 percent, as did the Shanghai Composite index. Markets in Taiwan, …. Source  : Gaea News Network.

Bank of Korea keeps key rate at record low 2 percent under new governor

Bank of Korea keeps key rate at 2 percent
SEOUL, South Korea – South Korea’s central bank left its key interest rate at a record low Friday as its new governor begins weighing when to end an 18-month-old easy money regime implemented to help fight the global financial crisis.
The Bank of Korea announced that …. Original source  : Bank of Korea keeps key rate at record low 2 percent under new governor.

NKorea’s rubber-stamp parliament convenes amid questions about future leadership, economy

NKorea’s parliament likely to focus on economy

SEOUL, South Korea – North Korea’s rubber-stamp parliament convenes an annual session Friday expected to show solidarity and perhaps indications of the impoverished and reclusive nation’s future leadership and economy.
The Supreme People’s Assembly meets one day a year in Pyongyang to approve bills vetted by the ruling Workers’ Party. …. Original article on Gaea Times at  : NKorea’s rubber-stamp parliament convenes amid questions about future leadership, economy.

Tribune says deal with creditors clears way for filing Chapter 11 plan

Tribune says deal clears way for Ch. 11 plan

NEW YORK – Tribune Co. said Thursday it has struck an agreement to head off some legal claims against the company and its lenders stemming from real estate mogul Sam Zell’s 2007 deal to take Tribune private.
The company said the agreement clears the way for it to … Original source on Gaea Times at : Tribune says deal with creditors clears way for filing Chapter 11 plan.

Itar-Tass: Anatoly Dobrynin, Soviet diplomat at center of Cuban missile crisis, dead at 90

Anatoly Dobrynin, key Soviet diplomat, dead at 90
MOSCOW – Anatoly Dobrynin, a Soviet diplomat who represented Moscow during the Cuban missile crisis and later in key superpower negotiations to curb the growth of nuclear arsenals, the Kremlin says. He was 90.
His death came the same week …. Original article on Gaea Times at  : Itar-Tass: Anatoly Dobrynin, Soviet diplomat at center of Cuban missile crisis, dead at 90.

Bernanke: Lessons learned from 1930s allowed policymakers to avert second Great Depression

Fed boss: Lessons from ’30s averted worse crisis

WASHINGTON – Federal Reserve Chairman Ben Bernanke says forceful action by policymakers in the United States and abroad during the financial crisis allowed the global economy to dodge a second Great Depression.
Bernanke, a scholar of the Great Depression, says policymakers learned from the mistakes of their predecessors in … Read : Bernanke: Lessons learned from 1930s allowed policymakers to avert second Great Depression.

Cowboys haters, rejoice: Texas Stadium about to be imploded by more than 1 ton of dynamite

After 39 years, Texas Stadium ready for implosion

IRVING, Texas – The old stadium for America’s team is about to become a pile of dust and rubble.
With the push of a button at 7 a.m. Sunday, more than a ton of dynamite will blow Texas Stadium into pieces.
In about one minute, down will go the building …. Read the original article  : here.

In Britain’s election, could the often overlooked Liberal Democrats emerge the kingmaker?

UK’s Liberal Dems could seal Brown’s fate
LONDON – Britain’s uncertain national election may deliver a surprising twist: The country’s perennial third-placed party, the hitherto toothless Liberal Democrats, could play kingmaker.

For the first time in nearly 40 years, polls suggest neither the governing Labour Party nor the main opposition Conservatives may win an outright parliamentary majority … Read more »».

Meinhardt Raabe, actor who played Munchkin coroner in ‘The Wizard of Oz,’ dies at 94 in Fla.

Raabe, ‘Wizard of Oz’ Munchkin actor, dies at 94

Meinhardt Raabe, who played the Munchkin coroner in “The Wizard of Oz” and proclaimed in the movie that the Wicked Witch of the East was “really most sincerely dead,” has died. He was 94.
His caregiver, Cindy Bosnyak, said Raabe – pronounced RAH’-bee – died Friday morning at … Original source on Gaea Times at : Meinhardt Raabe, actor who played Munchkin coroner in ‘The Wizard of Oz,’ dies at 94 in Fla..

China reports $7.24 billion trade deficit in March as imports surge, first in almost 6 years

China’s $7.24B March trade deficit 1st in 6 years
SHANGHAI – China reported its first monthly trade deficit in nearly six years in March, a shift expected to be short-lived and one that may give Beijing only a slight respite from pressure to revalue its currency.
The $7.24 billion …. Source  : China reports $7.24 billion trade deficit in March as imports surge, first in almost 6 years.

State media: China had $7.24 billion trade deficit in March, first in almost 6 years

Report: China had $7.24B trade deficit in March

SHANGHAI – China posted a $7.24 billion trade deficit in March, its first in almost six years, the official Xinhua News Agency reported Saturday, citing customs figures. Officials say the trend will be short-lived.
The March deficit was China’s first since it recorded a $2.26 billion deficit in April … Read more : State media: China had $7.24 billion trade deficit in March, first in almost 6 years.

Regulators shut down South Carolina bank, marking 42nd US bank failure this year

42nd US bank failure in ‘10 is South Carolina bank

WASHINGTON – Regulators on Friday shut down a bank in South Carolina, marking 42 bank failures in the U.S. so far this year amid mounting loan defaults, especially in commercial real estate.
The Federal Deposit Insurance Corp. took over Beach First National Bank, based in Myrtle Beach, … Read the original article on Gaea Times at : Regulators shut down South Carolina bank, marking 42nd US bank failure this year.

Caterpillar CEO takes 54 percent cut in compensation as equipment maker weathers the recession

Caterpillar CEO compensation falls 54 percent

OMAHA, Neb. – Last year, Caterpillar Inc. gave Chairman and CEO Jim Owens less than half the $14.6 million compensation he received in 2008 as the world’s biggest maker of mining and construction equipment endured the recession and eliminated thousands of jobs.
An Associated Press analysis of a Securities and Exchange … Read : Caterpillar CEO takes 54 percent cut in compensation as equipment maker weathers the recession.

Ice Edge, Reinsdorf group both sign memorandum of understanding on new Coyotes lease

Ice Edge, Reinsdorf group sign Coyotes memornadums

PHOENIX – Two groups seeking to buy the Phoenix Coyotes have signed memorandums of understanding on a revised lease with the city of Glendale, a significant step toward purchase of the financially troubled NHL franchise.
The documents were signed by Chicago sports mogul Jerry Reinsdorf and by Anthony LeBlanc, head …. Source  : Gaea News Network.

Ex-Hartford CEO Ayer awarded compensation of $4.8 million through first 10 months of 2009

Ex-Hartford CEO received ‘09 compensation of $4.8M

BOSTON – Ramani Ayer received compensation valued at nearly $4.8 million in his final 10 months as chairman and CEO of Hartford Financial Services Group Inc., according to an Associated Press analysis of a regulatory filing.
Liam McGee, who took over when Ayer retired at the end of October, received …. Read the original article  : Ex-Hartford CEO Ayer awarded compensation of $4.8 million through first 10 months of 2009.

University of Wisconsin-Madison cuts ties with Nike over treatment of Honduran workers

U. of Wis. cuts ties with Nike over labor concerns

MADISON, Wis. – The University of Wisconsin-Madison canceled its licensing agreement with Nike Inc. on Friday, becoming the first university to take that step over concerns about the company’s treatment of workers in Honduras.
Chancellor Biddy Martin said Nike hasn’t done enough to help workers at two …. Original article  : University of Wisconsin-Madison cuts ties with Nike over treatment of Honduran workers.

Philly newspaper lenders denied 3rd Circuit review of bid rules at April 27 bankruptcy auction

Philly newspaper lenders denied review of bid rule

PHILADELPHIA – A U.S. appeals court on Friday denied creditors of Philadelphia’s two largest newspapers a rehearing on a key issue that could determine who wins the company at an upcoming bankruptcy auction.
The ruling Friday means the owners of The Philadelphia Inquirer and Philadelphia Daily News can almost …. Original source  : Philly newspaper lenders denied 3rd Circuit review of bid rules at April 27 bankruptcy auction.

Product recalls this week include children’s books, furniture, coats, bikes

Recalls this week: books, furniture, coats

Recalled products this week include children’s books with foam bindings that could detach and pose a choking hazard. Also on the list are wood furniture with coatings that could have high levels of lead, and women’s coats that don’t meet flammability standards.
There was another recall of children’s hooded clothing made …. Original article on Gaea Times at  : Product recalls this week include children’s books, furniture, coats, bikes.

Southern California court chosen by US judicial panel to consolidate dozens of Toyota lawsuits

Southern California court gets Toyota lawsuits

MIAMI – A federal judge in Southern California was chosen Friday to preside over more than 200 lawsuits filed against Toyota in the aftermath of the automaker’s sudden acceleration problems, which could potentially mushroom into one of the nation’s biggest product liability cases.
A judicial panel consolidated the ever-growing list of … Read more »»».

Forget Dow 11,000. Where’s the trading volume? Even bulls worry that rally could peter out

The Dow’s up but trades are scarce, worrying bulls

NEW YORK – Think Dow 11,000 is a big deal? Think again.
The Dow Jones industrial average briefly hit the milestone Friday for the first time in 18 months before closing at 10,997.
But Wall Street analysts who study key stock index levels say all the attention paid to …. Original article  : Forget Dow 11,000. Where’s the trading volume? Even bulls worry that rally could peter out.

Neb. ends contract when youth services firm files bankruptcy, leaves 3 agencies to serve state

State loses 2nd private youth services contractor

OMAHA, Neb. – Nebraska’s overhaul of its child welfare system has hit a snag with the loss of two of the five private agencies the state hired last fall to coordinate care for roughly 6,300 state wards.
But the state Department of Health and Human Services remains committed to the …. Source  : Neb. ends contract when youth services firm files bankruptcy, leaves 3 agencies to serve state.

Xerox CEO Burns sees 77 pct. pay hike after becoming 1st black woman to head Fortune 500 co.

Xerox CEO Burns’ pay jumps with promotion in 2009

LOS ANGELES – Xerox Corp. CEO Ursula Burns, the first black woman to lead a Fortune 500 company, saw her pay increase 77 percent in 2009 after she was promoted from president and kept cutting costs amid an economic downturn.
Burns’ pay climbed to $9.9 million last year …. Original article on Gaea Times at  : Xerox CEO Burns sees 77 pct. pay hike after becoming 1st black woman to head Fortune 500 co..

Tea party claims win over Stupak’s decision not to run again; he says he accomplished top goal

Stupak, linchpin of health bill, calls it quits
MARQUETTE, Mich. – Rep. Bart Stupak insists that tea party activists outraged over his crucial support of health care legislation didn’t run him out of office, but his decision to retire gives conservatives a rallying point …. Original source  : Tea party claims win over Stupak’s decision not to run again; he says he accomplished top goal.

ESPN’s first round coverage of Master’s tournament with Woods’ return seen by 4.94 million

Nielsen: Masters first-day ratings up 47 percent

NEW YORK – Tiger Woods was almost done playing as ESPN began coverage of the Masters’ second round Friday, a day after the network rode interest in his return from a self-imposed hiatus to its highest golf ratings ever.
The Nielsen Co. said 4.94 million people watched ESPN’s opening round … Read the original article on Gaea Times at : ESPN’s first round coverage of Master’s tournament with Woods’ return seen by 4.94 million.

TV commentator, author Ben Stein says investors’ biggest mistake was trusting Wall St.

Investors’ biggest mistake was trusting Wall St.

NEW YORK – Good sense has vanished from many areas of American life including how families manage their money, says economist and television commentator Ben Stein.
“You’ve got to correct your spending patterns so that you’re saving every week or every month,” Stein says. “You’ve got to correct your spending [..] Read the original article: here.

Personal Ensign, unbeaten female who surged to great win in 1988 Breeders’ Cup, dies at 26

Eclipse Award winner Personal Ensign dies at 26

LEXINGTON, Ky. – Personal Ensign, who capped a brilliant unbeaten career with a stirring victory in the 1988 Breeders’ Cup Distaff, has died. She was 26.
Personal Ensign appeared to die of natural causes, Claiborne Farm stallion manager Bernie Sams said. Her body was discovered in a field for …. Source  : Personal Ensign, unbeaten female who surged to great win in 1988 Breeders’ Cup, dies at 26.

Lack of money stalls Obama’s jobs agenda; GOP objects, as does leading Senate Democrat

Obama election-year jobs agenda stalls in Congress
WASHINGTON – The election-year jobs agenda promised by President Barack Obama and Democrats has stalled seven months before voters determine control of Congress.
Democrats have no money to pay for the program. That’s because both Republicans and the Democratic chairman of the Senate Budget Committee objected to taking …. Original article  : Lack of money stalls Obama’s jobs agenda; GOP objects, as does leading Senate Democrat.

Mentally ill Holocaust survivors’ suffering lingers on 65 years later

For mentally ill survivors, Holocaust lives on

PARDES HANNA, Israel – Some patients refuse to shower because it reminds them of the gas chambers. Others hoard meat in pillow cases because they fear going hungry.
At the Shaar Menashe Mental Health Center in northern Israel, it’s as though the Holocaust never ended.
As Israel on Sunday night begins … Read more : Mentally ill Holocaust survivors’ suffering lingers on 65 years later.

UK investigating 800,000 organ donor list errors; some transplants may have been improper

UK investigates 800,000 organ donor list errors

LONDON – Britain’s transplant authority said Saturday that it was investigating several hundred thousand errors in its organ donor list stretching back about a decade.
The National Health Service Blood and Transplant organization said a proportion of its 14 million-strong organ donor list has been affected by technical errors since …. Original article  : UK investigating 800,000 organ donor list errors; some transplants may have been improper.

US reinforces softer hand in relations with Afghanistan’s mercurial leader

US seeks to smooth relations with Afghan leader
KABUL – President Hamid Karzai got a VIP briefing at NATO headquarters and the top American diplomat in Kabul went out of his way to smooth U.S.-Afghan relations – signs that Washington is using a softer touch in dealing with the unpredictable Afghan … Read : US reinforces softer hand in relations with Afghanistan’s mercurial leader.

Far-right Hungarian party could make gains, damaging governing party blamed for economy

Far-right party poised to make gains in Hungary
BUDAPEST, Hungary – A far-right party backed by black-clad paramilitary extremists is poised to make dramatic gains Sunday in Hungary’s national elections, mirroring recent advances by anti-immigrant parties across Europe.
Fidesz, the mainstream center-right party led by former Prime Minister Viktor Orban, is widely pegged to gain …. Source article on Gaea Times at  : Far-right Hungarian party could make gains, damaging governing party blamed for economy.

Despite Stupak’s retirement, many voters value effectiveness over small-government ideology

Stupak constituents seek federal aid over ideology

CHEBOYGAN, Mich. – Even as tea party activists gloat over Rep. Bart Stupak’s decision to retire after becoming one of their top targets for defeat, it’s far from certain that his constituents will elect a successor who shares their antipathy to government spending.
Michigan’s northernmost district has a history of … Read : Despite Stupak’s retirement, many voters value effectiveness over small-government ideology.

Potential presidential hopeful Pence says GOP will repeal health law “lock, stock and barrel”

Indiana congressman addresses 2012 “cattle call”
NEW ORLEANS – Indiana Rep. Mike Pence has vowed that House Republicans will repeal President Barack Obama’s health care overhaul law “lock, stock and barrel.”
In a fiery speech before the Southern Republican Leadership Conference, Pence noted that Obama recently dared the GOP to try to repeal the law. … Read more »».

History repeats: $1B transit project in St. Paul’s old black neighborhood stirs bad memories

Rail line stirs bad memories in black neighborhood

ST. PAUL, Minn. – When the Rev. George Davis learned the government was coming to take his family’s home to make room for a shiny new interstate, he told his loved ones he’d defend 304 Rondo Avenue with a shotgun.
But Davis was old, about 80, and his wife …. Original article  : History repeats: $1B transit project in St. Paul’s old black neighborhood stirs bad memories.

Indian Airlines-Air India Merger Criticized

MUMBAI, India, (GaeaTimes.com)-Indian Airlines has been merged with Air India as instructed by the Civil Aviation Ministry. Following the proposal all the union members organized a meeting in Mumbai to discuss the issue which they think will be an absolute spoiler to Indian Airlines.
Sitaram Yechuri who happens to be the Chairman of the Standing Committee …. Original article  : Indian Airlines-Air India Merger Criticized.

SEBI ULIP Ban Announced

MUMBAI, INDIA (GaeaTimes.com)- In a move that has taken the finance sector in India by surprise, market regulator SEBI has imposed a ban on issuing fresh Unit-Linked Insurance Plans by 14 life insurance companies operating in India. The private insurance entities like ICICI Prudential Life, Reliance Life Insurance, TATA AIG, HDFC Standard Life, Birla … Original source on Gaea Times at : SEBI ULIP Ban Announced.

Obama urges Americans to take advantage of tax breaks for homebuyers, college students, others

Obama advertises tax breaks ahead of Tax Day
WASHINGTON – Just ahead of Tax Day, President Barack Obama is urging Americans to take advantage of tax credits for first-time homebuyers, college students and others.
Obama used his weekly radio and Internet address Saturday to promote some …. Original article  : Obama urges Americans to take advantage of tax breaks for homebuyers, college students, others.

Ice Edge CEO says memorandum of understanding signed on new Coyotes lease

Ice Edge signs memorandum of understanding

PHOENIX – The head of Ice Edge Holdings says the company has signed a memorandum of understanding on a new lease with the city of Glendale that could pave the way for a purchase of the Phoenix Coyotes.
The city council is to vote on the proposal Tuesday.
Chief executive officer Anthony … Original article on : Ice Edge CEO says memorandum of understanding signed on new Coyotes lease.

Regulators shut down South Carolina bank; makes 42 US bank failures this year

Regulators shut South Carolina bank
WASHINGTON – Regulators on Friday shut down a bank in South Carolina, marking 42 bank failures in the U.S. so far this year amid mounting loan defaults, especially in commercial real estate.

The Federal Deposit Insurance Corp. took over Beach First National Bank, based in Myrtle Beach, S.C., with $585.1 million in … Read more >>>.

Gov’t tells Toyota it’s considering 2nd civil penalty against the automaker

Gov’t considers 2nd civil penalty against Toyota

WASHINGTON – The government says in a letter to Toyota that it’s considering a second civil penalty against the automaker.
Toyota is already facing a fine of more than $16 million for failing to promptly notify the government about defective gas pedals.
The Transportation Department told Toyota in a letter this … Read the original article on Gaea Times at : Gov’t tells Toyota it’s considering 2nd civil penalty against the automaker.

ValueClick CEO Tom A. Vadnais steps down, shares fall after hours

ValueClick CEO steps down, shares fall
WESTLAKE VILLAGE, Calif. – Web advertising company ValueClick Inc. said its CEO, Tom A. Vadnais, is retiring and resigning effective Friday, to be replaced by James R. Zarley, who’d been serving as executive chairman.

Vadnais, who’d served as CEO since 2007, also stepped down as director, a position he has held … Read this article on Gaea Times at : ValueClick CEO Tom A. Vadnais steps down, shares fall after hours.

Northrop Grumman CEO Sugar received 2009 pay package valued at $17.9 million, down 7 percent

Northrop Grumman CEO got $17.9M in 2009 pay

NEW YORK – The chairman and CEO of defense contractor Northrop Grumman Corp. received a pay package valued at $17.9 million in 2009, a decline of about 7 percent compared with the previous year, according to a regulatory filing Friday.
The bulk of Ronald Sugar’s compensation came from stock … Read more >>>.

The North Face settles lawsuit with The South Butt, Mo. teen’s company selling parody clothes

North Face, South Butt reach settlement in lawsuit

ST. LOUIS – The North Face Apparel Corp. has settled its lawsuit against The South Butt, a company started by a Missouri teenager that markets parody clothing.
The agreement entered in federal court Friday didn’t disclose terms. An attorney for The South Butt said it was an amicable resolution. … Read more »»».

Final frontier for Vegas ‘Star Trek’ props is warehouse sale, where they’ll boldly go to fans

‘Trek’ fans, want Picard’s chair? It’s for sale

LAS VEGAS – “Star Trek” lovers looking for Enterprise chairs, Starfleet uniforms or a model Klingon Bird of Prey can seek out new life for the dismantled pieces of a closed Las Vegas attraction based on the famous franchise.
Auctioneer Propworx Inc. plans to sell roughly 1,000 items large … Read the original article on Gaea Times at : Final frontier for Vegas ‘Star Trek’ props is warehouse sale, where they’ll boldly go to fans.

Alcoa, Constellation Brands, Williams-Sonoma, Ambac Financial among big market movers Friday

Alcoa, Constellation Brands are big movers

NEW YORK – Stocks that moved substantially or traded heavily Friday on the New York Stock Exchange and Nasdaq Stock Market:
NYSE:
Alcoa Inc., down 48 cents at $14.39
A JPMorgan analyst downgraded the aluminum producer, saying lower metal prices will hinder the company despite recent cost reductions.
BJ’s Wholesale Club Inc., up $1.44 …. Source  : Gaea News Network.

Analysts say Wal-Mart Stores price cuts hard to separate from retailer’s usual promotions

Summary Box: Wal-Mart’s price-cutting
PRICE CUTS: Wal-Mart Stores Inc. is trumpeting what it calls a large round of price-cutting on all of its products, including food. The world’s largest retailer says it will cut prices on 10,000 items in stages.

THE SKEPTICS: Analysts question whether the changes differ meaningfully from the retailer’s usual promotions. They also note … Original source on Gaea Times at : Analysts say Wal-Mart Stores price cuts hard to separate from retailer’s usual promotions.

Government would look into ULIP ban issue: Ashok Chawla

NEW DELHI – Finance Secretary Ashok Chawla on Monday said the ministry would look into the orders of the two regulators Securities and Exchange Bank of India (SEBI) and Insurance Regulator and Development Authority (IRDA) on equity linked products sold …. Source article  : Government would look into ULIP ban issue: Ashok Chawla.

Study: Airlines did a better job getting passengers and their bags to destinations in 2009

Airlines did a better job for passengers in 2009

WASHINGTON – Fewer passengers boarded planes last year, but those who did were generally treated better than in the past.
Planes were more likely to land on time and bags less likely to get lost in 2009, according to an annual analysis of airline quality by private researchers.
As … Original article on : Study: Airlines did a better job getting passengers and their bags to destinations in 2009.

PROMISES, PROMISES: Much challenged health care law mirrors Obama 2008 campaign promises

PROMISES, PROMISES: Health plan maps Obama pledges
WASHINGTON – The nation may be divided over the wisdom of President Barack Obama’s big new health care law, but it largely delivers on more than 30 specific promises he made as a candidate.
Americans basically got what the majority voted for when they elected Obama …. Source article  : PROMISES, PROMISES: Much challenged health care law mirrors Obama 2008 campaign promises.

Issue of Rs.10/- denomination banknotes with ‘M’ Inset letter in both numbering panels in Mahatma Gandhi Series ??? 2005 bearing the signature of Dr. D. Subbarao, Governor

The Reserve Bank of India will shortly issue Rs.10/- denomination banknotes with ‘M’ inset letter in both numbering panels in Mahatma Gandhi Series – 2005 bearing the signature of Dr. D. Subbarao, Governor. Except for the change in the inset letter, the design of these notes to be issued … Read : Issue of Rs.10/- denomination banknotes with ‘M’ Inset letter in both numbering panels in Mahatma Gandhi Series ??? 2005 bearing the signature of Dr. D. Subbarao, Governor.

California loses dairy farms as Iowa, Texas, other states lure farmers with less regulation

States woo Calif. dairymen with less regulation

DES MOINES, Iowa – The number of California dairies has plummeted by more than 500 in the past decade as farmers move to states promising lower costs and simpler regulations.
Some are willing to leave California because high land costs often mean they can’t grow their own grain. Others complain …. Source article on Gaea Times at  : California loses dairy farms as Iowa, Texas, other states lure farmers with less regulation.

Oil rises above $85 in Asia as Greece bailout plan boosts euro

Oil rises to $85 as Europe offers Greece bailout

SINGAPORE – Oil prices rose above $85 a barrel Monday in Asia after a massive loan offer to Greece by European countries helped weaken the dollar, making crude cheaper for investors holding euros.
Benchmark crude for May delivery was up 50 cents to $85.42 a barrel at midday …. Read the original article  : here.

AP survey: No quick rebound in pillars of Americans’ financial security _ home values and jobs

AP survey: Recovery to remain sluggish into 2011

WASHINGTON – The pillars of Americans’ financial security – jobs and home values – will stay shaky well into 2011, according to an Associated Press survey of leading economists.
The findings of the new AP Economy Survey, released Monday, point to an economic recovery that will move slowly and … Read : AP survey: No quick rebound in pillars of Americans’ financial security _ home values and jobs.

With travel down, more air flights arrived on time in 2009, fewer bags lost, complaints drop

Study: Flying went smoother for passengers in 2009

WASHINGTON – Some things did go right for airline passengers last year: Planes were more likely to land on time and bags less likely to get lost.
As a result, passengers reported fewer complaints in 2009 even while cash-strapped airlines reduced flight schedules and charged for everything from bags …. Source  : Gaea News Network.

Premium of less than a cent a week: Micro-insurance plans extend health care to Africa’s poor

Micro-insurance plans extend health care in Africa

KISAJU, Kenya – Kenyan student Shadrack Silipo had a heart operation five years ago, the sort of surgery that often bankrupts families in Africa.
Silipo’s parents normally would have paid by selling off land – the same green acres that form the inheritance for their eight children. But Silipo’s father, … Read this article on Gaea Times at : Premium of less than a cent a week: Micro-insurance plans extend health care to Africa’s poor.

Money Market Operations as on April 09, 2010

… Read this article on Gaea Times at : Money Market Operations as on April 09, 2010.

Asian markets advance after Wall Street gains, European pledges to Greece

Asian markets rise in early trading
TOKYO – Most Asian stock markets rose in early trading Monday after a strong finish Friday on Wall Street and easing worries about Greece’s financial health.

Japan’s Nikkei 225 stock average jumped 1 percent to 11,314.42 , and Australia’s benchmark rose 0.6 percent to 4,981.80.
Markets in New Zealand, Singapore and Taiwan …. Source article on Gaea Times at  : Asian markets advance after Wall Street gains, European pledges to Greece.

Google chief executive tells media group that newspapers will find new business models online

Google CEO says newspapers can make money online

WASHINGTON – Google Inc. Chief Executive Eric Schmidt says he is confident that newspapers will find new ways to make money online by harnessing the vast reach of the Internet.
Media executives have accused Google of draining readers and advertising from newspapers online. But speaking Sunday night to open …. Source article on Gaea Times at  : Google chief executive tells media group that newspapers will find new business models online.

Hungary’s center-right Fidesz gets landslide in national elections, far-right Jobbik is 3rd

Center-right Fidesz wins big in Hungary elections
BUDAPEST, Hungary – Hungary’s center-right party reclaimed the right to govern on Sunday, winning over 50 percent of the vote and handing the ruling Socialists a humiliating defeat. Extreme rightists backed by black clad paramilitary troops took more than 15 percent to come in third.
While widely …. Source  : Hungary’s center-right Fidesz gets landslide in national elections, far-right Jobbik is 3rd.

Hungary’s center-right leads in elections, Socialists in 2nd ahead of far-right

Hungary’s center-right leads voting, far-right 3rd
BUDAPEST, Hungary – Hungary’s center-right Fidesz party took a commanding lead in the first round of parliamentary elections on Sunday, while Jobbik, a far-right party with an anti-Gypsy and extreme nationalist agenda, was a strong third just behind the governing Socialists.
With 99.2 percent of the first-round votes counted, … Read more >>>.

Questions about nuclear stockpile, Russian attitude lead senators to question fate of treaty

Senators question future of US-Soviet nuclear pact
WASHINGTON – The new U.S.-Russian nuclear arms treaty may have a problem getting the vote of at least one independent senator, as well as Republican lawmakers.
Sen. Joe Lieberman, a Connecticut independent, says that America’s nuclear arsenal must be modernized. That might be difficult if President Barack Obama …. Original article  : Questions about nuclear stockpile, Russian attitude lead senators to question fate of treaty.

Incinerator project burns up Pa. capital’s cash as some officials raise scary word: Bankruptcy

Incinerator project burns up Pa. capital’s cash

HARRISBURG, Pa. – This capital city was near total collapse three decades ago – its department stores, theaters and trolleys were gone, replaced by vacant buildings and streets devoid of any nightlife.
A huge effort, thanks partly to an energetic mayor, brought the Susquehanna River city of 47,000 back from …. Original article  : Incinerator project burns up Pa. capital’s cash as some officials raise scary word: Bankruptcy.

‘Benefit corporations’ legislation puts ‘people, planet, profit’ on bottom line

States move to let firms pursue social mission

MONTPELIER, Vt. – Ben Cohen and Jerry Greenfield wish a bill making its way through the Vermont Legislature had been law decades ago.
If they’d been allowed to set up as a benefit corporation their Ben & Jerry’s Homemade Inc., the Vermont-based super premium ice cream maker, they might … Read : ‘Benefit corporations’ legislation puts ‘people, planet, profit’ on bottom line.

Euro governments offer Greece ???30 billion in loans this year if needed to ease debt crisis

Euro governments offer Greece ???30 billion backstop

BRUSSELS – Trying again to halt a debt crisis that has hammered the euro, fellow eurozone governments tossed struggling Greece a financial lifeline Sunday, saying they would make ???30 billion in loans available this year alone – if Athens asks for the money.
The International Monetary Fund stands ready to … Read the original article on Gaea Times at : Euro governments offer Greece ???30 billion in loans this year if needed to ease debt crisis.

Euro governments offer Greece euro30 billion in loans this year if needed to ease debt crisis

Euro governments offer Greece euro30 billion backstop

BRUSSELS – Trying again to halt a debt crisis that has hammered the euro, fellow eurozone governments tossed struggling Greece a financial lifeline Sunday, saying they would make euro30 billion in loans available this year alone – if Athens asks for the money.
The International Monetary Fund stands ready to … Read more : Euro governments offer Greece euro30 billion in loans this year if needed to ease debt crisis.

Mirant, RRI Energy merge in $1.61 billion deal to create one of the largest US power producers

Mirant, RRI Energy combining in $1.61B deal

ATLANTA – Energy providers Mirant Corp. and RRI Energy Inc. said Sunday they are combining in a $1.61 billion stock-swap deal, renaming the company and creating a utility powerhouse that will become one of the nation’s largest independent power producers.
The combined company, which will have a market capitalization of … Read : Mirant, RRI Energy merge in $1.61 billion deal to create one of the largest US power producers.

Canara HSBC Oriental Life to infuse Rs.300 crore

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

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

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

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

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

Japanese Airline Amakusa adopts IBS solution

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

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

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

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

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

India will grow 8.2 per cent in 2010: ADB

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

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

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

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

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

Billionaire Kroenke to try and buy rest of Rams

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

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

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

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

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

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

ADB: Asia economies rebound, need to adjust policy

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

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

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

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

Sign free trade pact with India: Dhaka economists

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

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

Infosys to pay 300 percent final dividend to investors

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

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

Goan origin Fernandes has pan-India aspiration for his AirAsia

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

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

Separatist shutdown cripples life in Srinagar

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

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

Others see growth in Bangladesh, local experts don’t

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

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

Kazakh president invites Manmohan to regional summit

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

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

Infosys projects double digit growth for fiscal 2011

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

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

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

Asian shares fall as yearlong rally takes breather

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

Infosys net up four percent for fiscal 2010

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

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

Chhattisgarh to invest Rs.2,000 crore on infrastructure

RAIPUR – Chhattisgarhs ruling Bharatiya Janata Party (BJP) will invest Rs.2,000 crore on infrastructure in Maoist-infested Bastar region, Chief Minister Raman Singh said Wednesday.

“The government will invest Rs.2,000 crore during the next three years to boost infrastructure in Naxal-hit Bastar region,” Singh told reporters.
He said the government has formed a committee headed by … Read the original article on Gaea Times at : Chhattisgarh to invest Rs.2,000 crore on infrastructure.

Human chain in Bangladesh to demand dredging of Padma river

DHAKA – Villagers backed by several non-government organisations and environmentalists formed a human chain to demand early dredging of the silted Padma river, one of Bangladeshs main river systems.

Residents of Godagari sub-district in Rajshahi, bordering Indias West Bengal, formed a human chain and held a rally demanding that the river should be dredged immediately …. Original article on Gaea Times at  : Human chain in Bangladesh to demand dredging of Padma river.

2 new laws in Neb. bar later-term abortions, require screenings for women seeking procedure

New laws in Neb. add restrictions on abortions

LINCOLN, Neb. – Two first-of-their-kind laws in Nebraska put new restrictions on abortion, including one that uses a new legal rationale for a ban on later-term abortions.
That law bars the procedure at and after 20 weeks of pregnancy based on the assertion that fetuses can feel pain at …. Source article on Gaea Times at  : 2 new laws in Neb. bar later-term abortions, require screenings for women seeking procedure.

More aboard! Amtrak studies long-distance route improvements to attract more riders, money

More aboard! Amtrak weighs long route improvements
COLUMBUS, Ohio – In many states, travelers who take Amtrak’s long-distance trains for vacations or out-of-state business trips board in the middle of the night and return home from such cities as Chicago or New York City at times that are just as inconvenient.
But some improvements are … Read the original article on Gaea Times at : More aboard! Amtrak studies long-distance route improvements to attract more riders, money.

Markets to remain close on Dr. Ambedkar’s birth anniversary

MUMBAI – The Bombay Stock Exchange (BSE), the National Stock Exchange (NSE), forex, money and oilseeds markets will remain closed on Wednesday on the 119th birth anniversary of Dr. B. R. Ambedkar.

In the international market, the prices of Japanese share opened higher, with the benchmark Nikkei-225 index … Original article on : Markets to remain close on Dr. Ambedkar’s birth anniversary.

Senate Democrats say they can beat GOP challenges to jobless bill, extend benefits through May

Senate Dems say jobless benefits bill on track

WASHINGTON – A measure to restore eligibility for the jobless to receive up to 99 weeks of unemployment checks appears on track despite objections from Republicans concerned about its $18 billion cost.
Democrats are also seeking to extend those benefits through Memorial Day instead of risking another cutoff in [..] Read the original article: here.

Parity for pedalers? Not everything is smooth cycling for LaHood’s bike, walking policy

Transportation’s bicycle policy hits potholes

WASHINGTON – Transportation Secretary Ray LaHood, a weekend bicyclist, might consider keeping his head down and his helmet on. A backlash is brewing over his new bicycling policy.
LaHood says the government is going to give bicycling – and walking, too – the same importance as automobiles in transportation planning and the …. Original article  : Parity for pedalers? Not everything is smooth cycling for LaHood’s bike, walking policy.

Indian IT major Infoys bags three-year Microsoft outsourcing deal

MELBOURNE – India’s Infosys Technologies has bagged a three-year IT outsourcing deal with technology giant Microsoft that covers 104 countries.
Infosys will manage Microsoft’s global internal IT services including helpdesk, desk-side services, IT infrastructure and applications support, reports The Australian.

The value of the deal was not disclosed, but analysts believe it could be worth more than …. Read the original article  : here.

Infosys net profit grows 2.21 pct in quarter four results

BANGALORE – Infosys Technologies, a software services exporter posted 2.21 percent growth in net profit at rupees 16.17 million for the fourth quarter ending March 31, 2010.

S D Shibulal, Chief Operating Officer, Infosys, Bangalore … Read more »».

Meat, chicken farmers await new antitrust rules expected to be toughest since Great Depression

Meat, poultry industries await new antitrust rules

KANSAS CITY, Mo. – Federal regulators are set to release the most sweeping antitrust rules covering the meat industry in decades, potentially altering the balance of power between meat companies and the farmers who raise their animals.
Activists, farmers and meat industry officials have been anxiously awaiting the new rules, …. Source  : Gaea News Network.

Indian CEOs enjoy highest approval, says survey

LOS ANGELES – Executives in India have the highest faith in their CEOs and general corporate leadership, says a survey of 13 major nations.

Executives in China, Brazil and Russia also have much more faith in their CEOs and general corporate leadership than their counterparts in the US, Canada and Britain, says the survey released … Read this article on Gaea Times at : Indian CEOs enjoy highest approval, says survey.

Remittances to El Salvador rise 8.7 percent in March

San Salvador, April 14 (IANS/EFE) Remittances sent by Salvadorans living abroad – mostly in the US – rose 8.7 percent in March, compared to the same month in 2009, to $343.2 million, El Salvador’s Central Bank reported.

“This is first positive rate observed since October 2008,” the Central Bank said.
Remittances last month were $27.2 million …. Source  : Remittances to El Salvador rise 8.7 percent in March.

Haitians face acute oil shortage

PORT OF PRINCE – Haitians have been facing an acute shortage of petroleum fuel due to the delay in supply of oil to the country.

The government has called an emergency meeting to discuss ways to cope with the lack of gasoline and set a limit on sale of fuel worth $25 to each vehicle. …. Source  : Gaea News Network.

Asian markets mostly higher on strong Intel results, soaring Singapore economy

Asian markets mostly rise on strong Intel results

SINGAPORE – Stocks mostly rose in Asia on Wednesday on investors optimism that better-than-expected first quarter results from Intel Corp. will usher in a strong earnings season.
Singapore’s benchmark stock index led gainers, advancing 1.1 percent after the government said the economy grew an annualized 32 percent in the …. Original article  : Asian markets mostly higher on strong Intel results, soaring Singapore economy.

Glendale City Council approves Reinsdorf group’s Coyotes proposal, votes down 2nd group

Glendale council OKs Reinsdorf’s Coyotes proposal

GLENDALE, Ariz. – The Glendale City Council on Tuesday approved a proposed arena lease agreement submitted by a group headed by Chicago sports mogul Jerry Reinsdorf that is seeking to buy the Phoenix Coyotes.
The council also acted on a second proposal, rejecting a plan submitted by Ice Edge Holdings, a …. Read the original article  : Glendale City Council approves Reinsdorf group’s Coyotes proposal, votes down 2nd group.

Oil rises above $84 in Asia as stock market gains help break 5-day losing streak

Oil rises above $84, breaking 5-day losing streak

SINGAPORE – Oil prices rose above $84 a barrel Wednesday in Asia, breaking a five-day slide, as rising global stock markets boosted crude investor optimism.
Benchmark crude for May delivery was up 17 cents to $84.22 a barrel at late afternoon Singapore time in electronic trading on the New …. Original article  : Oil rises above $84 in Asia as stock market gains help break 5-day losing streak.

Recession is holding down prices but households also experiencing weakest wage growth in years

Even with low inflation households still squeezed

WASHINGTON – The deep recession has caused inflation to all but melt away. The problem is that the same severe downturn has also translated into weak income growth.
Economists say it is no wonder that consumer confidence is at such low levels. Americans’ pocketbooks are being squeezed, even though inflation … Read more »».

Fed boss to face lawmakers’ questions on rebound’s staying power, relief on high unemployment

Fed boss has bittersweet message on recovery, jobs

WASHINGTON – Federal Reserve Chairman Ben Bernanke goes to Capitol Hill on Wednesday with a bittersweet message: The economic recovery is taking hold but won’t be strong enough to quickly drive down unemployment.
Bernanke’s out-of-the box thinking during the 2008 financial crisis helped prevent the Great Recession from turning …. Source article  : Fed boss to face lawmakers’ questions on rebound’s staying power, relief on high unemployment.

Watchdog panel says Obama plan to ease foreclosure crisis does too little, comes too late

Watchdog: Obama foreclosure plan leaves many out
WASHINGTON – A watchdog panel overseeing the financial bailouts says the Obama administration’s flagship mortgage aid program lags well behind the foreclosure crisis and leaves too many families out.
The Congressional Oversight Panel says in a report released Wednesday that the administration projects only …. Original article  : Watchdog panel says Obama plan to ease foreclosure crisis does too little, comes too late.

Chavez urges militia fighters to be ready to defend Venezuela’s socialist government

Chavez raises sword before militia loyalists

CARACAS, Venezuela – Venezuelan President Hugo Chavez urged thousands of gun-toting militia troops Tuesday to be ready to fight for his socialist government, telling them that opponents may be plotting to oust or kill him.
Chavez rallied the civilian militia at an outdoor speech while marking the anniversary of a failed …. Original article  : Chavez urges militia fighters to be ready to defend Venezuela’s socialist government.

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.

Thai Red Shirt protest leader climbs down hotel facade with rope to flee police raid

Thai protester climbs out hotel to evade capture

BANGKOK – Thailand’s political crisis took a surreal twist Friday when an anti-government protest leader climbed down a hotel facade with a rope to evade arrest and drove off with two police officers taken hostage by his supporters.
Arisman Pongruangrong’s escapade was the latest embarrassment for the government, which …. Source article on Gaea Times at  : Thai Red Shirt protest leader climbs down hotel facade with rope to flee police raid.

India, China to corner 30 percent each of diamond business

SURAT – India and China are expected to share almost 30 percent of the world’s diamond and gems business each by 2020, says Roger Lorie, chief executive of the International Gemological Institute (IGI) Worldwide.

The world’s diamond business would shift from the West to the East in the next 10 years or even earlier. “I … Read the original article on Gaea Times at : India, China to corner 30 percent each of diamond business.

Finance ministers seek to stem debt crisis as Greece calls for more work on potential bailout

Eurozone ministers seek ways to stem debt crisis

MADRID – Eurozone finance ministers gathered Friday to seek ways to halt a government debt crisis as Greece asks the European Union and the International Monetary Fund to step up work on a potential multibillion bailout.
The Greek government said Thursday it would hold “systematic negotiations” on the standby … Read this article on Gaea Times at : Finance ministers seek to stem debt crisis as Greece calls for more work on potential bailout.

Include India, Brazil in UN security council: BRIC nations

BRASILIA – Calling for reform of the UN and the global financial architecture, BRIC countries have underlined the centrality of G20 as the premier economic forum and pitched for including India and Brazil in an expanded UN Security Council.

Indian Prime Minister Manmohan Singh, Brazilian President Lula da Silva, Chinese President Hu Jintao and Russian … Read more : Include India, Brazil in UN security council: BRIC nations.

Some vulnerable patients may be shut out of lower-cost health premiums available this year

Low-cost coverage in Obama health plan not for all
WASHINGTON – It’s an eagerly awaited early benefit of President Barack Obama’s health care overhaul: affordable coverage for Americans with medical problems who can’t get a private insurer to even take a look.
Starting in July, a special high-risk pool will offer … Read more >>>.

Poor swath of conservative, anti-stimulus SC didn’t want the money, but it’s working

In anti-stimulus SC, money is making a difference
AIKEN, S.C. – Most people in South Carolina didn’t vote for Barack Obama and didn’t want any part of his stimulus cash, and folks in a particularly poor, hard-hit swath near the Georgia line were no exception. Until the money showed up.
About $1.6 billion …. Source article on Gaea Times at  : Poor swath of conservative, anti-stimulus SC didn’t want the money, but it’s working.

Thai Red Shirt protest leader scales hotel facade with rope to flee police raid

Thai protester scales hotel wall to evade capture

BANGKOK – Thailand’s political crisis took a surreal twist Friday when an anti-government protest leader scaled down a hotel facade with a rope to evade arrest and drove off with two police officers taken hostage by his supporters.
Arisman Pongruangrong’s escapade was the latest embarrassment for the government, which …. Source article  : Thai Red Shirt protest leader scales hotel facade with rope to flee police raid.

Flights to London, Europe cancelled due to volcano ash

NEW DELHI/MUMBAI – Many international airlines, including Indian carriers, have either cancelled or rescheduled their flights to north European destinations following volcanic ash clouding the flight path, a top Air India official said Friday.

“As of now, many of the flights are not going to operate to north European destinations,” said a spokesperson for India’s flagship [..] Read the original article: here.

Farmworkers try to persuade Fla.-based supermarket chain Publix to pay penny more for tomatoes

Pickers want Fla. chain to pay more for tomatoes

TAMPA, Fla. – After persuading McDonald’s, Whole Foods and Subway that they should pay an extra penny per pound for tomatoes, a farmworkers group is taking on supermarket giant Publix.
The Coalition of Immokalee Workers will kick off a three-day march Friday to try to persuade the Florida-based … Read : Farmworkers try to persuade Fla.-based supermarket chain Publix to pay penny more for tomatoes.

Asian stock markets as investors mull strong GDP growth, monetary tightening

Asian stocks fall on inflation, rate hike concerns

SINGAPORE – Asian stock markets fell Friday as investors mulled whether the region’s strong economic growth so far this year could trigger inflation and higher interest rates.
Japan’s benchmark Nikkei 225 stock average led decliners, dropping 171.61 points, or 1.5 percent, to 11,102.18. Hong Kong’s Hang Seng index fell [..] Read the original article: here.

Thai Red Shirt protest leader stages dramatic escape from hotel surrounded by police

Thai protester in dramatic escape to avoid police

BANGKOK – Thailand’s political crisis took a surreal twist Friday when an anti-government protest leader scaled down a hotel facade with a rope to evade arrest and drove off with two police officers taken hostage by his supporters.
Arisman Pongruangrong’s escapade was the latest embarrassment for the government, which [..] Read the original article: here.

Sensex starts weak, selling pressure on realty, energy

MUMBAI – It was another weak opening for a benchmark index of Indian equities Friday, which was ruling 66 points lower than its previous close, almost an hour into trade.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,645.91 points, was ruling at 17,572.45 points, 66.81 points or 0.38 percent …. Source article  : Sensex starts weak, selling pressure on realty, energy.

Rolling Stone putting full issues and its 43-year archive online _ for paying customers only

Rolling Stone’s archive going online – for a price

NEW YORK – For the first time Rolling Stone is inviting its readers on the long, strange trip though the magazine’s 43-year archive, putting complete digital replicas online along with the latest edition. But you’ll have to pay to see it all.
With a new site launching Monday, … Original source on Gaea Times at : Rolling Stone putting full issues and its 43-year archive online _ for paying customers only.

Oil drops below $85 in Asia as stock markets slide, led by Japan, China

Oil drops below $85 as Asian stocks slump
SINGAPORE – Oil prices fell below $85 a barrel Friday as crude traders eyed a sharp drop in Asian stocks.

Benchmark crude for May delivery was down 77 cents to $84.74 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract … Read more : Oil drops below $85 in Asia as stock markets slide, led by Japan, China.

New volume of Haruki Murakami’s top-selling novel “1Q84??? goes on sale in Japan

New volume of Murakami novel goes on sale in Japan

TOKYO – Eager fans waited in drizzling rain Friday to buy the third volume of Haruki Murakami’s best-selling, multi-part novel “1Q84″ and learn if its main characters – long-ago schoolmates now searching for each other – would be reunited.
Publisher Shinchosha said 500,000 copies would hit bookstores … Read more : New volume of Haruki Murakami’s top-selling novel “1Q84″ goes on sale in Japan.

Obama signs $18 billion jobless benefits bill despite deficit worries

Obama signs $18 billion jobless benefits bill
WASHINGTON – Just hours after Congress passed an $18 billion bill to restore unemployment benefits for the long-term unemployed, President Barack Obama made it the law of the land.
The measure comes as welcome relief to hundreds of thousands of people who lost out … Read the original article on Gaea Times at : Obama signs $18 billion jobless benefits bill despite deficit worries.

Money Market Operations as on April 15, 2010

…. Original article  : Money Market Operations as on April 15, 2010.

Obama signs bill for unemployment benefits through June 2, full Medicaid payments restored

Obama signs bill extending unemployment benefits
WASHINGTON – President Barack Obama has signed a bill extending unemployment benefits through June 2 and restoring full Medicaid payments to doctors.
The bill cleared both houses of Congress on Thursday night. The House passed the bill 289-112 just two hours after it emerged from the Senate on a … Read the original article on Gaea Times at : Obama signs bill for unemployment benefits through June 2, full Medicaid payments restored.

Panel sets quota but restores brief commercial salmon seasons for California

Panel sets fishing seasons for West Coast salmon

PORTLAND, Ore. – For the first time since 2007, commercial and recreational fishermen will be able to cast their lines for ocean salmon from the Canadian border to Mexico.
The Pacific Fishery Management Council approved seasons and quotas for chinook and coho salmon off the coasts of Washington, Oregon …. Source  : Panel sets quota but restores brief commercial salmon seasons for California.

Survey: Bankers in Midwest, Plains see signs of promise in failing ag industry

Survey: Bankers see promise in ag industry

OMAHA, Neb. – A survey of rural bankers in 10 Midwest and Plains states released Thursday showed signs of promise amid prolonged financial weakness in the agriculture industry.
The overall index for the Rural Mainstreet economic report fell to 44.2 in April from 47.4 in March. The April 2009 index …. Source article on Gaea Times at  : Survey: Bankers in Midwest, Plains see signs of promise in failing ag industry.

Complete the work, it’s already late: Hooda on expressway

GURGAON – “Complete the work, it is already late.” This is what Haryana Chief Minister Bhupinder Singh Hooda had to say to the firm which is constructing the 135.65-km-long Kundli-Manesar-Palwal (KMP) expressway.

Hooda, who visited the expressway Saturday, directed DS Construction Limited officials to expedite the work and also ordered senior government officials to inspect the … Original article on : Complete the work, it’s already late: Hooda on expressway.

SpiceJet to introduce Kolkata-Agartala flight

AGARTALA – Low-fare private airline SpiceJet will introduce a Kolkata-Agartala flight next month as part of its plans to gradually increase its presence in the northeast, its Chief Commercial Officer Samyukth Sridharan said Saturday.

SpiceJet, with an over 12 percent market share, has so far been operating flights only to Guwahati in the northeast.
“Tripura’s capital … Original source on Gaea Times at : SpiceJet to introduce Kolkata-Agartala flight.

EU finance ministers work on tougher banking oversight, levy to pay for future bank collapses

EU finance ministers work on banking oversight

MADRID – European Union finance ministers were working Saturday on ways to ensure tougher banking supervision, and considering a bank levy to pay for banks that collapse in the future, hoping to prevent a repeat of the recent financial crisis which cost governments billions of euros.
French Finance Minister Christine … Original source on Gaea Times at : EU finance ministers work on tougher banking oversight, levy to pay for future bank collapses.

Paradip port’s new berth faces clearance delay

BHUBANESWAR – The construction of a new deep draught iron ore berth at Paradip port in Orissa is facing a delay as the state government has not yet granted clearance to the project, a senior port official said Saturday.

The port authorities had signed an agreement with Blue Water Iron Ore Terminal Pvt Ltd in …. Original source  : Paradip port’s new berth faces clearance delay.

Himachal fails to use World Bank funds

SHIMLA – Himachal Pradesh, a storehouse of bio-diversity, has failed to utilise 86 percent of forest funds provided under a World Bank-aided project, the Comptroller and Auditor General of India (CAG) has said.

On overall basis, the state failed to utilise 21 percent of the total allocated funds in the past two years.
“Under mountain livelihood …. Source article  : Himachal fails to use World Bank funds.

Democratic woes, tough economic times create political challenge for Calif. incumbent Boxer

California rough terrain for Senate incumbent
WESTLAKE VILLAGE, Calif. – A Democrat and a woman, Helen Sargent is the kind of voter that Sen. Barbara Boxer needs this year in her drive for a fourth term in Washington.
So, what does Sargent think of taxes and the U.S. debt? Too high.
President Barack Obama, Boxer’s …. Source  : Gaea News Network.

Hundreds stranded as US, Britain flights cancelled

MUMBAI – Around 900 passengers were stranded at the Chhatrapati Shivaji International Airport Saturday as flights to several places in Europe were cancelled following volcanic ash clouding the flight path.

All flights from Mumbai to London, cities in the US and Canada have been cancelled and flights to India are also delayed indefinitely, officials said.
“Our … Read the original article on Gaea Times at : Hundreds stranded as US, Britain flights cancelled.

Toyota recalls Sienna minivans

WASHINGTON – Toyota has announced a voluntary recall of some 600,000 Sienna minivans in the US and 270,000 in Canada because of safety concerns about potential corrosion in its spare tyre carrier.

The recall applies to certain models of the van from 1998 to 2010 that were driven in cold climates where road salt may have … Read : Toyota recalls Sienna minivans.

Regulators shut down 8 banks in Calif., Fla., Mass., Mich., Wash. for 50 closures this year

8 banks close in Calif., Fla., Mass., Mich., Wash.

WASHINGTON – Regulators on Friday shut down eight banks – three in Florida, two in California, and one each in Massachusetts, Michigan and Washington – putting the number of U.S. bank failures this year at 50.
The Federal Deposit Insurance Corp. took over the three Florida banks: Riverside …. Source  : Regulators shut down 8 banks in Calif., Fla., Mass., Mich., Wash. for 50 closures this year.

Regulators shut down 7 banks in Calif., Fla., Mass., Mich. for total of 49 closures this year

7 banks shut down in Calif., Fla., Mass., Mich.

WASHINGTON – Regulators have shut down seven banks – three in Florida, two in California, and one each in Massachusetts and Michigan – putting the number of U.S. bank failures this year at 49.
The Federal Deposit Insurance Corp. on Friday took over the three Florida banks: Riverside …. Source  : Gaea News Network.

Regulators shut down 6 banks in Calif., Fla., Mass., Mich. for total of 48 closures this year

6 banks shut down in Calif., Fla., Mass., Mich.

WASHINGTON – Regulators have shut down six banks – three in Florida, and one each in California, Massachusetts and Michigan – putting the number of U.S. bank failures this year at 48.
The Federal Deposit Insurance Corp. on Friday took over the three Florida banks: Riverside National Bank …. Read the original article  : Regulators shut down 6 banks in Calif., Fla., Mass., Mich. for total of 48 closures this year.

AP Interview: Tester says contentious $50 billion fund in bank bill is an ‘arbitrary figure’

Tester: $50B bank fund an ‘arbitrary figure’
HELENA, Mont. – A proposed $50 billion fund for taking apart banks that are “too big to fail” is an arbitrary figure that should not tank financial overhaul legislation – if Senate Republicans truly want to negotiate, Senate Banking Committee member Jon Tester said Friday.
But that fund …. Source article on Gaea Times at  : AP Interview: Tester says contentious $50 billion fund in bank bill is an ‘arbitrary figure’.

Regulators approve futures trading based on movie box office revenues; studios propose ban

Panel OKs market for movie bets; studios want ban

LOS ANGELES – U.S. regulators on Friday approved the creation of a futures market for trading in forecast box-office receipts, but major Hollywood studios immediately trumpeted a bill that would ban it.
The U.S. Commodity Futures Trading Commission approved the creation of the Trend Exchange, a forum that …. Source  : Regulators approve futures trading based on movie box office revenues; studios propose ban.

Proposed Wash. ballot measure would end state monopoly on liquor sales, distribution

Wash. initiative would end state liquor monopoly

OLYMPIA, Wash. – Voters could see an initiative this year to break up the state government monopoly on liquor sales, although it’s not clear who is behind the campaign or whether it has enough steam to make the fall ballot.
Supporters of the idea filed paperwork this week with state … Read more »»».

Kyrgyzstan turmoil prompts coordinated international response; new Kyrgyz leaders seek justice

New Kyrgyz leaders vow to prosecute ex-president
JALAL-ABAD, Kyrgyzstan – With the tremors of Kyrgyzstan’s violent revolution subsiding, the country’s provisional leader said Friday that her government will push for an international probe of the former president, who has fled the country.
Ousted leader Kurmanbek Bakiyev left Thursday for neighboring Kazakhstan on a flight arranged … Original source on Gaea Times at : Kyrgyzstan turmoil prompts coordinated international response; new Kyrgyz leaders seek justice.

Correction: Comcast executive compensation story

Correction: Comcast executive compensation story

PHILADELPHIA – In a story April 9 about the executive compensation of Comcast Corp.’s chief executive, The Associated Press erroneously tabulated the pay package. The story did not include $2.25 million in above-market benefits on deferred compensation for the CEO, Brian Roberts. As a result, Roberts’ total pay under the AP’s …. Original article on Gaea Times at  : Correction: Comcast executive compensation story.

Regulators shut down 5 banks based in Fla., Mass., Michigan; makes 47 bank failures this year

Regulators shut 5 banks in Fla., Mass., Mich.

NEW YORK – Regulators shut down five banks Friday – three in Florida, and one each in Massachusetts and Michigan – putting the number of U.S. bank failures this year at 47.
The Federal Deposit Insurance Corp. said it took over Riverside National Bank of Florida in Fort Pierce, … Read more »»».

Gannett’s CEO discusses the potential impact of the iPad on the company’s newspapers

On the Call: Gannett’s CEO on the iPad
NEW YORK – Many of the newspaper publishers who have lost so much of their advertising revenue to competitors on the Web are hoping Apple’s new iPad computer can help fix their business models.

Gannett Co. CEO Craig Dubow discussed the iPad’s potential on a conference call with analysts …. Original article  : Gannett’s CEO discusses the potential impact of the iPad on the company’s newspapers.

Former Obama car czar Rattner still under kickback cloud as new details emerge about conduct

Ex-Obama car czar remains under a kickback cloud

NEW YORK – Investigators probing a pay-to-play scandal at New York’s government pension fund have been turning up the heat on former Obama car czar Steven Rattner.
The one-time star of Wall Street and Washington has been dealing for more than a year with an investigation of allegations that …. Source article on Gaea Times at  : Former Obama car czar Rattner still under kickback cloud as new details emerge about conduct.

Detroit mayor, governor join US, Canadian officials in support of government-owned bridge

US, Canadian officials speak out for new bridge

DETROIT – Dangling the prospect of job creation in a region swamped by high unemployment, Gov. Jennifer Granholm, Detroit Mayor Dave Bing and other leaders from the U.S. and Canada urged state lawmakers on Friday to allow Michigan to enter a partnership to build a new international bridge.
The …. Read the original article  : Detroit mayor, governor join US, Canadian officials in support of government-owned bridge.

India, Bangladesh power venture to come up in Chalna

DHAKA – Chalna, a port town in southwestern Bangladesh, will be the location for a proposed 1,310 megawatt coal-fired power plant to be set up as a joint venture between Bangladesh and India, an official said Sunday.

A joint technical committee comprising officials of the Bangladesh Power Development Board (BPDB) and the National Thermal Power … Original source on Gaea Times at : India, Bangladesh power venture to come up in Chalna.

Ahmadinejad reviews army parade, says Iran so mighty today no one would dare attack

Ahmadinejad extolls Iran’s military might
TEHRAN, Iran – President Mahmoud Ahmadinejad on Sunday extolled Iran’s military might during an annual army parade, saying the country is so powerful today that no one would dare attack it.

The parade in Tehran showcased Iran’s surface-to-surface Ghadr, Sajjil and Shahab-3 missiles, which have a range of up to 1,250 miles …. Read the original article  : Ahmadinejad reviews army parade, says Iran so mighty today no one would dare attack.

AIIMS metro station is patient-friendly

NEW DELHI – The upcoming metro station at the All India Institute of Medical Sciences (AIIMS) here has been specially designed for patients visiting it and the nearby Safdarjung Hospital.

The patient-friendly station is being constructed by the Delhi Metro Rail Corporation (DMRC) on the Central Secretariat-Qutab Minar metro corridor.
“As two important hospitals of the … Original article on : AIIMS metro station is patient-friendly.

Upcoming metro station at AIIMS is patient-friendly

NEW DELHI – The upcoming metro station at the All India Institute of Medical Sciences (AIIMS) here has been specially designed for patients visiting the premier hospital.

The patient-friendly station is being constructed by the Delhi Metro Rail Corporation (DMRC) on the Central Secretariat-Qutab Minar metro corridor.
“As two important hospitals of the national capital (AIIMS … Read : Upcoming metro station at AIIMS is patient-friendly.

Facebook to launch operations in China

BEIJING – Facebook, the world’s largest social networking website, is aiming to enter the Chinese market and has hired a domestic head-hunting company to recruit business managers for the country, a media report has said.

Facebook wants to hire a general manager based in Beijing to oversee its operations in China, Global Times reported Friday.
The …. Original source  : Facebook to launch operations in China.

Tobacco farmer Alejandro Robaina, symbol of Cuba’s cigar prowess, dies at 91

Cuban cigar legend Robaina dead at 91
HAVANA – Cuban tobacco grower Alejandro Robaina, an international symbol of the island’s cigar-making prowess, died Saturday. He was 91.

Cuban state television announced his death, and the state tobacco concern Habanos SA, which produces the Robaina brand cigar, said on its website that he was the “victim of a …. Read the original article  : Tobacco farmer Alejandro Robaina, symbol of Cuba’s cigar prowess, dies at 91.

Aussie publisher reprinting cookbook after recipe typo calls for ‘freshly ground black people’

Cookbook pulped over ‘ground black people’ typo

SYDNEY – An Australian publisher is reprinting 7,000 cookbooks over a recipe for pasta with “salt and freshly ground black people.”
Penguin Group Australia’s head of publishing, Bob Sessions, acknowledged the proofreader should have caught the “silly mistake.”
He told The Sydney Morning Herald for a story printed Saturday that, “We’re …. Source  : Gaea News Network.

Apple prices to go up as supply from China drops

BEIJING – Apple prices may go up in the international markets as China, a major supplier of the fruit, has reported a drop in their supply this week due to a bitter cold gripping the northern parts of the country.

In Shaanxi province, the country’s largest apple growing base, more than 22 counties recorded …. Original source  : Apple prices to go up as supply from China drops.

25 years ago, prize money kept Boston Marathon from becoming also-ran in the running world

25 years of prize money, Boston still runs strong

BOSTON – After decades with the marathon world to itself, the Boston Athletic Association watched races in other cities begin offering prize money and appearance fees and flatter, easier courses that attracted the top talent.
The choice was clear for the world’s oldest and most prestigious marathon: Accept … Read the original article on Gaea Times at : 25 years ago, prize money kept Boston Marathon from becoming also-ran in the running world.

Luci Baines Johnson hospitalized at Mayo Clinic, doctors suspect autoimmune disorder

President LBJ’s youngest daughter hospitalized

DALLAS – Luci Baines Johnson, the youngest daughter of former President Lyndon B. Johnson, is being treated at the Mayo Clinic for what doctors suspect is a rare autoimmune disorder that affects the nervous system, her personal physician said Saturday.
Johnson, 62, who was flown by air ambulance to the clinic in … Read more »»».

Calif. Democrats seek to capture election-year momentum; Jerry Brown wants bipartisan debate

California Democrats seek election-year momentum
LOS ANGELES – Democrats facing a tough election year dared Republicans on Saturday to challenge them on issues from Wall Street regulations to health care reform, testing what they hope will be a winning message with most voters in the fall.
Democrats at the state party’s annual convention had … Original article on : Calif. Democrats seek to capture election-year momentum; Jerry Brown wants bipartisan debate.

Calif. Dem. Jerry Brown wants unprecedented primary debate with GOP rivals Whitman, Poizner

Jerry Brown to Calif. GOP rivals: Debate me now

LOS ANGELES – Democratic gubernatorial candidate Jerry Brown on Saturday challenged his potential GOP rivals to an unprecedented bipartisan debate before the state’s June primary, responding to criticism that he has been slow to enter the political fight.
Outgunned by the personal wealth of Republicans Meg Whitman and … Read more >>.

Massey Energy’s CEO total 2009 pay falls 12 percent as coal miner faced weak demand

Massey Energy CEO’s 2009 pay down 12 percent

DENVER – The Associated Press has found that compensation for Massey Energy’s CEO fell 12 percent last year as the West Virginia coal mining company coped with sluggish demand.
Don Blankenship’s pay was $17.3 million in 2009, compared with $19.7 million the year before.
Massey saw coal demand fall as … Read the original article on Gaea Times at : Massey Energy’s CEO total 2009 pay falls 12 percent as coal miner faced weak demand.

Delhi regains top position in 3G spectrum auction

NEW DELHI – India Saturday completed 40 rounds of an auction to award radio frequency spectrum for third generation telecom services in the country, with Delhi beating Gujarat and attracting the highest bid price at over Rs.600 crore.

Leaving Gujarat, which had been attracting the highest bid for the last three consecutive days, far behind in …. Source  : Delhi regains top position in 3G spectrum auction.

Hooda pulls up officials for expressway construction delay

CHANDIGARH – Haryana Chief Minister Bhupinder Singh Hooda Saturday directed officials to expedite the construction of the 135.65-km-long Kundli-Manesar-Palwal (KMP) expressway, which has already missed its deadline by six months.

The KMP expressway passes over National Highway-8 at Panchgaon village, about five km from Manesar in Gurgaon district. It will enable trucks from across the country … Read : Hooda pulls up officials for expressway construction delay.

Mumbai domestic airport’s new terminal opened

MUMBAI – The new domestic terminal 1C at the Chhatrapati Shivaji International Airport was inaugurated by Civil Aviation Minister Praful Patel and Maharashtra Chief Minister Ashok Chavan Saturday.

The terminal will increase passenger handling capacity and enhance the overall passenger comfort and convenience, Mumbai International Airport Pvt Ltd (MIAL) chairman G.V. Krishna Reddy said.
“Our [..] Read the original article: here.

Liquor industry toasts states modernizing alcohol laws and tasting events

Some states easing laws on liquor tastings

RICHMOND, Va. – With about 5,000 brands of liquor available on store shelves nationwide, suppliers of some top-selling spirits hope modernization of state alcohol laws will get customers to try new products boost revenue for them and states.
Virginia is one of the latest states to change what critics say … Read this article on Gaea Times at : Liquor industry toasts states modernizing alcohol laws and tasting events.

UAE’s private firm employees see bleak career prospects

Abu Dhabi, April 17 (IANS/WAM) Sixty percent of private sector employees in the UAE have quit their jobs forseeing no prospects of career advancement, a new study says.

There has been a continuous increase of Emiratis working in private firms, though retention remains to be a serious issue due to lack of career progression and the …. Source article on Gaea Times at  : UAE’s private firm employees see bleak career prospects.

Seeking fourth term, Calif. Sen. Barbara Boxer faces Democratic woes, tough economic times

Calif. Sen. Boxer finds rocky re-election terrain
WESTLAKE VILLAGE, Calif. – Hints of re-election trouble for U.S. Sen. Barbara Boxer come from a 65-year-old travel agent from this leafy Los Angeles suburb who’s a fellow Democrat.
To Helen Sargent, taxes and the national debt are too high, President Barack Obama has proved a … Read : Seeking fourth term, Calif. Sen. Barbara Boxer faces Democratic woes, tough economic times.

10 more subway stations to open in Dubai

Dubai April 17 (IANS/WAM) Dubai Saturday announced the opening of seven new subway stations this month and three in the next month, expecting to revamp the public transport system in the country’s urban areas.

Mattar Al Tayer, chairman of the Roads and Transport Authority (RTA), said seven metro stations will become operational April 30, while three … Read the original article on Gaea Times at : 10 more subway stations to open in Dubai.

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.

Orissa takes steps to normalise movement of minerals

BHUBANESWAR – The Orissa government has initiated steps to normalise the movement of minerals from mines in the state’s Keonjhar district, officials said Monday.

“There was a meeting between railway and state government officials recently and certain measures are mutually agreed upon,” Guru Ray, special secretary in the state government, told IANS.
“I am hopeful things …. Source  : Gaea News Network.

Hasina plans to buy electricity from India

DHAKA – Purchasing 500 MW power from India and setting up ten new power plants to generate another 1,000 MW tops Prime Minister Sheikh Hasina’s agenda, a media report said Monday.

The government is reportedly poised to sign up to 10 contracts by May 31 to deliver up to 1,000 MW power. It will … Original source on Gaea Times at : Hasina plans to buy electricity from India.

Billions in loans likely for Greece, will help Athens make large bond repayment due in May

Emergency loans likely for Greece, official says

WASHINGTON – A top Greek economic official sought to shore up confidence among investors that Greece would avert a crippling debt default by securing billions of dollars in emergency loans from European countries and the International Monetary Fund.
Greek Finance Minister George Papaconstantinou also warned market speculators “they will lose …. Source article on Gaea Times at  : Billions in loans likely for Greece, will help Athens make large bond repayment due in May.

Eid Parry Acquires GMR Industries

CHENNAI, INDIA (GaeaTimes.com)- EID Parry, the famous South India based sugar manufacturer reportedly made an offer to acquire 65 percent stake in the company GMR Industries on Monday. After the offer, GMR industries will become a minority stock holder in the entity. EID parry is a part of Murugappa Group based in Chennai and …. Original source  : Eid Parry Acquires GMR Industries.

Showdown vote on regulations looms; Democrats ready to test GOP resolve to block bill

Democrats willing to test GOP in Wall St. showdown

WASHINGTON – With a showdown vote looming, Democrats are resisting Republican appeals for a broad compromise on financial overhaul legislation and are eager to test whether GOP unity will crack in an anti-Wall Street political climate.
The top negotiators on the regulatory bill – Democratic Sen. Christopher Dodd … Read more : Showdown vote on regulations looms; Democrats ready to test GOP resolve to block bill.

Euro down slightly at $1.3371 after Greek call for activation of aid package

Euro down after Greek call for aid package

BERLIN – The euro is trading slightly lower against the dollar following Greece’s call for activation of a financial rescue package worth more than $50 billion.
In early European trading Monday, the euro was quoted at $1.3371 compared with $1.3390 in New York late Friday.
Before Greece on Friday requested …. Original source  : Euro down slightly at $1.3371 after Greek call for activation of aid package.

Nuclear plant made tourist site in China

BEIJING – An abandoned nuclear plant in China, built inside an artificial cave that can withstand earthquakes, has been opened as a tourist attraction, a media report said Monday.

Construction of the 816 Nuclear Military Plant, once a secret site in the mountainous town of Baitao in Chongqing province, began in 1966, but China’s military commission …. Source article  : Nuclear plant made tourist site in China.

TomTom posts $4 million profit in Q1, reversing year-ago loss

TomTom ekes out tiny profit in Q1
AMSTERDAM – TomTom NV reported a small profit for the first quarter as more drivers bought its personal navigation devices, but selling prices continued to fall.

Net profit was ???3 million ($4 million) or ???0.01 per share in what is usually its weakest quarter, from a loss of ???37 million … Original article on : TomTom posts $4 million profit in Q1, reversing year-ago loss.

Certificate of Registration of Shogun Finlease Private Limited ??? Cancelled

The Reserve Bank of India has on March 8, 2010 cancelled the certificate of registration granted to Shogun Finlease Private Limited having its registered office at 504, Samartha Vaibhav, Lokhandwala Complex, Off Link Road, Andheri (West), Mumbai 400053 for carrying on the business of a non-banking financial institution as …. Source  : Gaea News Network.

I am bored, says Australian millionaire

MELBOURNE – An Australian, who became a millionaire at the age of 25 by setting up an internet firm, says he has “never been so bored” in his life.

Leon Hill, a Brisbane resident who founded uSocial.net, angered social networking sites when he developed a service that sells Twitter followers and Facebook fans.
Courier Mail [..] Read the original article: here.

Over 200 exhibitors participate in Airport Show 2010

Dubai, April 26 (IANS/WAM) Over 200 exhibitors from 34 countries are participating in the Airport Show 2010 that opened here Sunday, an official said.

The three-day exhibition showcases latest technologies and advances in the airport industry from around the world, and hosts industry professionals who will share their expertise and insights on enhancing the operational efficiencies …. Source  : Over 200 exhibitors participate in Airport Show 2010.

Former longtime Warriors owner Franklin Mieuli dies at 89; teams included 1975 NBA champs

Former Warriors owner Franklin Mieuli dies at 89

OAKLAND, Calif. – Franklin Mieuli, whose deerstalker cap, substantial beard and casual style made him one of the NBA’s most colorful figures in his 24 years as owner of the Golden State Warriors, died Sunday. He was 89.
Mieuli died of natural causes in a San Francisco Bay Area …. Source  : Gaea News Network.

Etihad launches cargo service to Iraq

Abu Dhabi, April 26 (IANS/WAM) Etihad Crystal Cargo, a division of United Arab Emirates (UAE) based Etihad Airways, has launched a weekly cargo service from its hub at Abu Dhabi International Airport to Erbil in the Kurdistan region of Iraq.

The service would operate an A300-600F freighter to Erbil with a payload of 42 tonnes. …. Original article  : Etihad launches cargo service to Iraq.

Blaming China: Indonesian garment makers say free trade pact leaves them on brink of collapse

As they fold, Indonesia garment makers blame China

JAKARTA, Indonesia – Mufardi Rusli’s neighbors hunch over tables covered in brightly colored fabric, the whirring of their sewing machines echoing across his Jakarta neighborhood. For Rusli, the sound is a bitter reminder of the $2 line of jackets that bankrupted him, costing him a garment business it … Read more : Blaming China: Indonesian garment makers say free trade pact leaves them on brink of collapse.

Asian stock markets push higher after Greece asks for bailout; Japan up 2 pct

Asian stocks rise after Greece asks for bailout

HONG KONG – Asian stock markets pushed higher Monday after Greece requested a bailout to resolve the country’s worsening debt crisis.
Major markets were up by as much as 2 percent. The dollar weakened against the euro and rose against the yen, while oil prices traded above $85 a … Original article on : Asian stock markets push higher after Greece asks for bailout; Japan up 2 pct.

Oil gains above $85 in Asia on growing investor optimism about US economy

Oil above $85 on signs US economy improving

SINGAPORE – Oil prices climbed above $85 a barrel Monday in Asia as growing investor optimism about the U.S. economy boosted equity and commodity prices.
Benchmark crude for May delivery was up 44 cents to $85.56 a barrel at late afternoon Singapore time in electronic trading on the New …. Source article on Gaea Times at  : Oil gains above $85 in Asia on growing investor optimism about US economy.

3-D glimpse of Shanghai World Expo a mouse click away

BEIJING – Now visiting the Shanghai World Expo will be possible through internet as the organiser has decided to launch its new website to display the event with three-dimensional (3-D) vision.

The organising committee is trying to provide a 3-D Shanghai World Expo garden in the virtual world so as to make the 159-year-old traditional exhibition … Read : 3-D glimpse of Shanghai World Expo a mouse click away.

Developing nations get more voice in World Bank

WASHINGTON – World Bank Group members including India have endorsed boosting its capital by more than $86 billion and giving developing countries a little more voice in running the affairs of the 186-member institution.

The changes announced Sunday bring about a 3.13 percentage-point shift in favour of the developing countries giving them just over 47.19 percent …. Source article  : Developing nations get more voice in World Bank.

Forecasters more optimistic about economy as job creation grows, but still see slow recovery

Forecasters optimistic about economy, job creation

NEW YORK – Economists are more optimistic about prospects for growth this year as industries increasingly report better profits and add new jobs, though they still expect the recovery to remain slow, a new survey shows.
Seventy percent of those recently surveyed by The National Association for Business Economics believe real … Read more »».

Sensex up 100 points in opening trade

MUMBAI – A benchmark index for Indian equities Monday opened firmly in the positive and was ruling 100 points higher than its previous close, minutes into trade.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,692.26 points, was ruling at 17,794.52 points, 100.32 points or 0.57 percent higher than its …. Original article  : Sensex up 100 points in opening trade.

Requiem for the floppy: Sony to stop sales

LONDON – Sony has announced it will stop selling floppy disks from March 2011 because of falling sales, a media report said hereTuesday.

The Japanese electronics giant had stopped selling the disks in many international markets earlier this year due to low demand and competition from other storage media such as online storage and … Original source on Gaea Times at : Requiem for the floppy: Sony to stop sales.

Danish drug maker Novo Nordisk 1st quarter profit soars 23 percent, helped by insulin sales

Novo Nordisk Q1 profit up 23 pct, lifts outlook

COPENHAGEN – Danish drug maker Novo Nordisk A/S says its first quarter profit soared 23 percent, helped by increased sales of modern insulin products.
The world’s top producer of insulin Tuesday said net profit in the January to March period reached 3.3 billion kroner ($595 million), up from … Read more : Danish drug maker Novo Nordisk 1st quarter profit soars 23 percent, helped by insulin sales.

BP 1st quarter profit more than doubles from year earlier due to rebounding oil price

BP profit more than doubles in Q1
LONDON – BP PLC, Europe’s second-largest oil company, said Tuesday that first-quarter profit more than doubled from a year earlier to $6.1 billion due to higher crude prices and lower production costs and taxes.

Despite handily beating analysts’ forecasts, BP shares fell slightly Tuesday as the market continued to worry …. Original article on Gaea Times at  : BP 1st quarter profit more than doubles from year earlier due to rebounding oil price.

Sensex down in choppy trade

MUMBAI – In choppy trade Tuesday, a benchmark index of Indian equities was down after recording five days of gains.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,744.93 points, was ruling at 17,719.35 points, 25.93 points or 0.15 percent lower than its previous close at 17,745.28 points. … Read more >>.

Greek PM to brief governing Socialist lawmakers on rescue deal as unions plan protests

Greek PM to brief party deputies on rescue deal

ATHENS, Greece – Greece’s prime minister will brief governing Socialist party lawmakers on the eurozone and International Monetary Fund bailout package, as unions plan more protests.
George Papandreou formally requested the aid last week after the debt-ridden country’s costs of borrowing from markets hit forbiddingly high levels.
Civil servants, … Read more »».

Mindlance to set up development centre in Jaipur

JAIPUR – US-based IT service provider Mindlance is planning to set up a development centre here as part of its India strategy focusing on smaller cities.

“Jaipur is fast emerging as a key IT services destination due to its best-in-class infrastructure, an extremely supportive government and availability of talent. It complements our plan to expand … Read this article on Gaea Times at : Mindlance to set up development centre in Jaipur.

‘Attractive’ CEOs earn more

WASHINGTON – A CEO’s appearance can qualify the executive for a paycheck higher than his less “executive looking” colleague, according to a new study.

In the research, Duke University researchers revealed strong ties between appearance and success in the business world.
By pairing photos of the chief executive officers of large and … Read the original article on Gaea Times at : ‘Attractive’ CEOs earn more.

Sony to stop selling floppy disks

LONDON – Japanese electronics giant Sony has announced that it will stop selling floppy disks from March 2011 due to falling sales, a media report said Tuesday.

Sony had stopped selling the disks in many international markets earlier this year due to low demand and competition from other storage media such as online storage and portable …. Source article on Gaea Times at  : Sony to stop selling floppy disks.

State Bank of Travancore improves Mid-East operations

THIRUVANANTHAPURAM – The State Bank of Travancore (SBT) will beef up its operations in the Middle East to shore up non-resident Indian (NRI) deposits.

In the 2009-10 fiscal, the public sector bank’s NRI deposits fell to Rs.2,455 crore from Rs.2,500 crore in 2008-09.
A.K. Jagannathan, the bank’s managing director, told reporters here Monday night that … Original source on Gaea Times at : State Bank of Travancore improves Mid-East operations.

India-Latin America meet to consider $10.39 billion deals

NEW DELHI – Business proposals worth $10.39 billion (Rs.46,755 crore) will be discussed at a conclave of Indian and Latin American and Caribbean (LAC) firms here later this week, the Confederation of Indian Industry (CII) said Tuesday.

“Project proposals worth $10.39 billion will be discussed during the conclave across a wide cross-section of business sectors, …. Source  : Gaea News Network.

Norwegian aluminum group Norsk Hydro reports return to Q1 profit on improving market

Norsk Hydro reports 1st quarter profit
OSLO – Norwegian aluminum producer Norsk Hydro ASA reported Tuesday a first-quarter net profit of 924 million kroner ($157.1 million) due to an increase in aluminum prices and demand.

That compared with a loss of 280 million kroner a year earlier.
Quarterly revenue jumped to 18.15 billion kroner ($3.1 billion) from 16.57 … Original article on : Norwegian aluminum group Norsk Hydro reports return to Q1 profit on improving market.

Mixed response to strike in Tamil Nadu

CHENNAI – The nationwide strike called by 13 parties to protest rising food prices evoked mixed response in Tamil Nadu Tuesday.

While normal life was largely unaffected, shops in a few districts like Karur, Gobichettipalayam and Mayiladuthurai were closed.
Production in textile units in Karur and Tirupur were affected as workers did not turn up for … Read this article on Gaea Times at : Mixed response to strike in Tamil Nadu.

Germany’s Deutsche Bank says 1st quarter net profit up 50 percent to $2.4 billion

Deutsche Bank makes $2.4 bln profit in Q1
BERLIN – Deutsche Bank AG reported Tuesday a 50 percent rise in profit for the first quarter of the year due to booming earnings in investment banking.

The company earned euro1.8 billion ($2.4 billion) amid improving results from the sale of debt and equities, up from last year’s first …. Source article  : Germany’s Deutsche Bank says 1st quarter net profit up 50 percent to $2.4 billion.

Price rise, cricket stall parliament (Afternoon Lead)

NEW DELHI – Spiralling prices and Prime Minister Manmohan Singh’s rejection of a probe into phone tapping and alleged wrongdoings in the lucrative Indian Premier League (IPL) stalled parliament Tuesday, forcing the adjournment of both houses.

While the Lok Sabha was adjourned twice, so was the Rajya Sabha, the second time for the day.
The trouble … Original source on Gaea Times at : Price rise, cricket stall parliament (Afternoon Lead).

12-hour strike cripples life in Tripura

AGARTALA – A nationwide dawn-to-dusk strike called by 13 parties against rising prices Tuesday brought life to a halt in Tripura.

“The strike was total with people expressing their anger against the central government’s failure to check price rise,” Communist Party of India-Marxist (CPI-M) leader Bijon Dhar told reporters.
Most markets, shops and business establishments, government … Read this article on Gaea Times at : 12-hour strike cripples life in Tripura.

Opposition legislators evicted from Tamil Nadu assembly

CHENNAI – Legislators belonging to opposition parties were ordered out of the Tamil Nadu assembly Tuesday after they staged vocal protests in the house over rising food prices.

As the house met, opposition members demanded a discussion on the issue in place of the question hour.
The protesting legislators belonged to the AIADMK, MDMK, Communist Party …. Original source  : Opposition legislators evicted from Tamil Nadu assembly.

Opposition shutdown hits transport in Andhra Pradesh

HYDERABAD – The day-long shutdown called by opposition parties against price rise evoked partial response in Andhra Pradesh affecting transport services.

State-owned Road Transport Corp (RTC) stopped plying buses in several places in Andhra Pradesh as opposition workers held demonstrations outside bus depots and staged road blockades, police said.
Shops and business establishments in some towns …. Source article  : Opposition shutdown hits transport in Andhra Pradesh.

Strike against prices hits life in parts of India

NEW DELHI – Normal life was hit hard in West Bengal, Kerala, Tripura and parts of Uttar Pradesh, Andhra Pradesh and Tamil Nadu as activists of 13 opposition parties staged a 12-hour nationwide strike to denounce the government over rising food prices.

The protests were called by 13 opposition parties including the Left Front, Samajwadi Party, … Read the original article on Gaea Times at : Strike against prices hits life in parts of India.

Sweden’s Swedbank returns to profit in Q1 amid lower credit losses in the Baltics

Swedbank returns to profit in Q1, Baltics recover

STOCKHOLM – Swedbank AB, one of Sweden’s four main banks, Tuesday said it has returned to profit for the first time since 2008 as a result of significantly lower credit losses in the Baltic countries.
The bank, which has had a tough time with defaults in the Baltic countries … Read : Sweden’s Swedbank returns to profit in Q1 amid lower credit losses in the Baltics.

Asian stocks fall as worries about Greece, China weigh on sentiment; Shanghai down 3 pct

Asian stocks fall as Greece, China worries weigh

HONG KONG – Most Asian stock markets dropped Tuesday as worries about Greece’s rescue plan and China’s measures to slow its economy held investors back.
Chinese stocks led the decline with a 3 percent loss. The dollar weakened against the yen and rose against the euro, while oil prices … Read : Asian stocks fall as worries about Greece, China weigh on sentiment; Shanghai down 3 pct.

Sensex in red amid negative Asian cues

MUMBAI – A benchmark index for Indian equities was faltering Wednesday amid negative cues from major Asian bourses.

Realty, metal and energy scrips were facing bulk of the selling pressure.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,643.59 points, was ruling at 17,529.91 points, 160.71 points or 0.91 percent … Read this article on Gaea Times at : Sensex in red amid negative Asian cues.

BEL India To Revise Wage

BANGALORE, INDIA (GaeaTimes.com)- BEL India (Bharat Electronics Limited) in its aim to meet the wage revision is pulling apart Navaratna Public Sector Unit net profits. This is quite different from the last year when the total turnover for BEL India was recorded at 13.2%. As a matter of fact the net profit structure faced a …. Original source  : BEL India To Revise Wage.

Greek borrowing costs hit new highs after ratings downgrade; country 3 weeks away from default

Greek borrowing costs at new highs after downgrade

ATHENS, Greece – Three weeks away from potential default, Greece saw its borrowing costs spiral higher once again Wednesday, a day after ratings agency Standard & Poor’s downgraded the country’s bonds to junk status.
Stocks around the world tanked after the downgrade by S&P, which also lowered its rating … Read the original article on Gaea Times at : Greek borrowing costs hit new highs after ratings downgrade; country 3 weeks away from default.

RNRL Awaits Supreme Court Verdict

DELHI, INDIA (GaeaTimes.com)- RNRL (Reliance Natural Resources Ltd) shares which are solely owned by Anil Ambani will soon be receiving the verdict of Supreme Court of India which shall draw the end to one of the most talked about corporate war being fought over the years. The chief justice presiding over the RNRL case …. Source article on Gaea Times at  : RNRL Awaits Supreme Court Verdict.

Republicans vote ‘no’ on banking rules, look to ‘yes’ after they win some concessions

GOP votes ‘no,’ looks to ‘yes’ on their own terms
WASHINGTON – Republicans are voting “no” so that some of them can get to “yes” on tightening the reins on Wall Street.
Outnumbered by Democrats, Senate Republicans have held together for two days, twice blocking the start of debate on new financial regulations in hopes … Read : Republicans vote ‘no’ on banking rules, look to ‘yes’ after they win some concessions.

In heartland economic tour, Obama to link Main Street’s economy with Wall Street

Obama to link Wall Street to Main Street
DES MOINES, Iowa – President Barack Obama’s message is simple: If lawmakers don’t rein in Wall Street, there’s no guarantee another economic crisis won’t undermine Main Street.
Making that link as he sells the Democrats’ financial regulatory reform bill is a political imperative for Obama as well …. Read the original article  : In heartland economic tour, Obama to link Main Street’s economy with Wall Street.

Republicans look to reverse New England slide by targeting handful of House seats

GOP eyes comeback for New England House seats
CONCORD, N.H. – New England Republicans, dismissed as a vanishing breed after a string of congressional losses, are now thinking comeback.
Tapping a deep vein of voter discontent over the economy, jobs and President Barack Obama’s health care overhaul, the GOP has a reasonable shot at capturing … Read this article on Gaea Times at : Republicans look to reverse New England slide by targeting handful of House seats.

Amid fears of crisis, euro slips before gaining to reach $1.3196 in morning trading

Euro slides below $1.32 amid spreading debt fears

BERLIN – The euro slid against the dollar in morning European trading Wednesday but managed to recover slightly even as fears that the Greek financial crisis could spread to Portugal take their toll on the 16-nation currency.
The euro fell as low as $1.3155 in early trading Wednesday before … Read more >>.

Germany’s Merkel to meet ECB, IMF heads amid debate over bailout for debt-ridden Greece

Merkel to meet ECB, IMF heads amid Greek crisis

BERLIN – The spiraling financial crisis surrounding Greece, and fears it could spread to other eurozone countries like Portugal, overshadowed a planned meeting Wednesday between German Chancellor Angela Merkel and the heads of the International Monetary Fund, European Central Bank and other financial institutions.
Worried markets are looking … Read : Germany’s Merkel to meet ECB, IMF heads amid debate over bailout for debt-ridden Greece.

USDA proposes cutting billions from crop insurance subsidies after industry posts high profits

USDA to cut subsidies as insurers post big profits

MINNEAPOLIS – The federal government wants to save taxpayers billions of dollars by cutting spending on crop insurance.
Farmers pay premiums for insurance to cover part of their losses when there’s bad weather and crops fail. But the government subsidizes the program to keep it affordable. Last year, … Original source on Gaea Times at : USDA proposes cutting billions from crop insurance subsidies after industry posts high profits.

Nordea 1st quarter net profit rises by 3 percent on higher fee and commission income

Nordea Q1 net profit up 3 pct on higher fee income

STOCKHOLM – The Nordic region’s largest bank Nordea AB Wednesday said its first quarter profit rose by 3 percent, helped by higher fee and commission income.
The bank, based in Stockholm, said net profit for the first quarter climbed to ???642 million ($854 million) from ???626 … Read this article on Gaea Times at : Nordea 1st quarter net profit rises by 3 percent on higher fee and commission income.

Nordea 1st quarter net profit rises by 3 percent on higher fee and commission income

Nordea Q1 net profit up 3 pct on higher fee income

STOCKHOLM – The Nordic region’s largest bank Nordea AB Wednesday said its first quarter profit rose by 3 percent, helped by higher fee and commission income.
The bank, based in Stockholm, said net profit for the first quarter climbed to euro642 million ($854 million) from euro626 … Read : Nordea 1st quarter net profit rises by 3 percent on higher fee and commission income.

SGX Nifty Witnesses Trading Tragedy

SINGAPORE, (GaeaTimes.com)- With the trading option swinging in a little low for SGX Nifty, all Indian equities are hitting it out negative. As per the last stands on Wednesday, SGX (Singapore Stock Exchange) Nifty recorded a trade of 5,229.50 which is as of a whole 78 points lower rate than what was recorded in Tuesday …. Source  : SGX Nifty Witnesses Trading Tragedy.

Royal Dutch Shell reports profits rose 57 percent in Q1 to $5.48 billion

Shell reports $5.48 billion profit in Q1
AMSTERDAM – Europe’s largest oil company Royal Dutch Shell PLC reported a 57 percent increase in net profit for the first quarter on Wednesday, crediting higher oil prices, production growth, and cost-cutting.

Net profit was $5.48 billion, up from $3.49 billion in the same period a year ago. Revenues were … Read more : Royal Dutch Shell reports profits rose 57 percent in Q1 to $5.48 billion.

British American Tobacco says revenue rose in first quarter despite volume drop

BAT reports Q1 revenue gains despite lower volumes

LONDON – British American Tobacco PLC said Wednesday that group revenues rose in the first quarter although it sold 1 percent fewer cigarettes.
The company said revenue, on a constant exchange rates basis, increased in all market sectors.
BAT did not report earnings figures in its interim management statement.
The company … Read more »»».

Athletic apparel maker Puma’s 1st quarter net profit soars 82 pct to $110 million

Puma’s Q1 net profit surges 82 pct
BERLIN – Puma AG, the German athletic apparel maker, says its first quarter net profit has surged some 82 percent even as sales dipped.

The maker of shoes, shirts, bags and other athletic products said Wednesday it had a net profit of euro83.1 million ($110.4 million) in the first quarter … Read : Athletic apparel maker Puma’s 1st quarter net profit soars 82 pct to $110 million.

Cheap call rates eat into Bharti Airtel profits

MUMBAI – The net profit of Bharti Airtel, the country’s largest mobile service provider, dropped eight percent to Rs.2,055 crore for the quarter ended March compared to Rs.2,239 crore in the year-ago period.

Stiff competition among existing and new entrants has seen players slash call rates and introduce schemes like per second billing, which has eaten … Read this article on Gaea Times at : Cheap call rates eat into Bharti Airtel profits.

West Bank official says new law banning Palestinian work in settlements won’t be enforced soon

No penalties yet for Palestinian settlement work

RAMALLAH, West Bank – The Palestinian economics minister says a new law banning Palestinians from working in Israeli settlements will not be immediately enforced.
The law, which also bans the sale of Israeli products made in the settlements, was signed by Palestinian President Mahmoud Abbas this week. Violators face up … Original article on : West Bank official says new law banning Palestinian work in settlements won’t be enforced soon.

Asian markets fall as global sell-off spreads amid Europe debt crisis; Tokyo down 2.5 pct

Asian markets fall amid European debt worries

HONG KONG – A global markets sell-off spread to Asia Wednesday, sending the region’s stocks lower amid fears the worsening European debt crisis would throw the world economic recovery off track.
Selling was widespread across Asia after European and U.S. markets tumbled overnight. The euro, after plummeting to levels not …. Original article on Gaea Times at  : Asian markets fall as global sell-off spreads amid Europe debt crisis; Tokyo down 2.5 pct.

BlackBerry plans to hit 100-million user base

TORONTO – Facing fierce competition from Apple’s iPhone, BlackBerry maker Research In Motion (RIM) Tuesday announced it will more than double its customer base.

Currently, BlackBerry has 41 million users globally – almost three percent of the world’s mobile phone market.
Calling its base of 41 million customers “a good start,” RIM president and co-CEO Mike … Original article on : BlackBerry plans to hit 100-million user base.

Global stock markets mixed as European debt crisis continues to unsettle investors

World stocks mixed amid caution over Europe crisis

HONG KONG – Global stock markets were mixed Thursday after two days of selling, with investors treading cautiously after Spain became the third European country this week hit with a downgrade of its debt.
European shares rose slightly in early trade after Asian shares closed mixed. The dollar, meanwhile, …. Source article on Gaea Times at  : Global stock markets mixed as European debt crisis continues to unsettle investors.

Britain’s potential leaders spar over economy in election’s final TV showdown

Last chance to woo UK voters in final TV debate

LONDON – Britain’s three main candidates in the neck-and-neck parliamentary election campaign will face off for the last time in a TV debate Thursday night, tackling the issue of how to repair the fragile economy.
For Prime Minister Gordon Brown, reeling from a major campaign gaffe Wednesday … Read this article on Gaea Times at : Britain’s potential leaders spar over economy in election’s final TV showdown.

No 4G spectrum auction for now: Raja

NEW DELHI – The government does not have any plans as of now to auction 4G spectrum, Communications Minister A. Raja said Thursday.

“The auction of 3G spectrum is going on successfully. The question of the need of 700 MHz (4G) spectrum (for the public) is being studied. It is not necessary as of now,” Raja … Read the original article on Gaea Times at : No 4G spectrum auction for now: Raja.

Sanofi-Aventis reports 8.6 percent rise in 1st quarter net profit on swine flu gains

Sanofi-Aventis 1st quarter profit up 8.6 percent

PARIS – Sanofi-Aventis reported Thursday an 8.6 percent increase in first quarter net profit thanks to its swine flu vaccine and strong sales of diabetes treatment Lantus.
France’s largest drug maker said net profit in the three-month period rose to ???1.71 billion ($2.26 billion) from ???1.58 billion a year earlier. … Original source on Gaea Times at : Sanofi-Aventis reports 8.6 percent rise in 1st quarter net profit on swine flu gains.

UK house prices increase 1 percent in April, now 10.5 pct higher than year ago, lender says

UK house prices rise 1 pct in April
LONDON – Average house prices in Britain rose 1 percent from March to April, pushing the average sale price 10.5 percent higher than a year earlier, a major mortgage lender said Thursday.

The Nationwide Building Society, Britain’s third-largest mortgage lender, said it was the first time since June 2007 …. Original article on Gaea Times at  : UK house prices increase 1 percent in April, now 10.5 pct higher than year ago, lender says.

Amid debt crisis, German Foreign Minister says EU should create its own credit rating agency

Germany says Europe needs its own rating agency

BERLIN – Germany’s Foreign Minister says the European Union should create its own rating agency because of the financial crisis.
Guido Westerwelle on Thursday told “WAZ” newspaper group the EU “should counter the work of rating agencies with efforts of its own.”
Westerwelle said rating agencies must not develop, sell, …. Read the original article  : here.

ArcelorMittal sees strong rebound in second quarter

NEW DELHI – The world’s largest steel maker, ArcelorMittal, Thursday said margins would improve substantially during the April-June quarter due to stronger demand in all main markets after a net loss of $1.1 billion in the quarter ended March.

“The economic recovery is continuing in line with our expectations and 2010 is set to be a … Original article on : ArcelorMittal sees strong rebound in second quarter.

Coca-Cola Hellenic’s 1st quarter net profits soar following cost-cutting drive

Coca-Cola Hellenic posts Q1 profit of $34 million

ATHENS, Greece – Greece’s Coca-Cola Hellenic Bottling Company SA, the second biggest bottler of Coke in the world, said Thursday its profits soared in the first quarter following cost-cutting and restructuring.
CCHBC said in a statement its net profit reached ???25.4 million ($33.64 million), compared to ???1.9 million in …. Source  : Gaea News Network.

Spain’s Banco Santander 1st quarter profit up 5.7 percent owing to revenue growth

Spain’s Santander Q1 profits up 5.7 percent

MADRID – Spain’s Banco Santander said Thursday its first-quarter net profit rose 5.7 percent as strong revenue growth offset higher loan losses and the effects of the recession.
Spain’s biggest bank and the eurozone’s largest by market capitalization said net profit rose to ???2.21 billion ($2.93 billion) in the first … Original source on Gaea Times at : Spain’s Banco Santander 1st quarter profit up 5.7 percent owing to revenue growth.

Forever 21 replaces Gucci at downtown store, as luxury-loving Japan goes more frugal

Japan going frugal with Forever 21 Ginza opening

TOKYO – Move over Gucci. Here comes Forever 21. Trend-conscious Japan is outgrowing its longtime love affair with luxury brands and turning to a new passion: Fast fashion.
The star brand of American mall-style clothing – reputed for delivering runway looks at cheap prices – opened Thursday in Matsuzakaya … Read the original article on Gaea Times at : Forever 21 replaces Gucci at downtown store, as luxury-loving Japan goes more frugal.

G8/G20 leaders urged to have new policies for economic recovery

OTTAWA – Meeting ahead of the G8 and G20 summits here in June, heads of business chambers from the G8 industrialised nations urged their leaders to institute new polices to sustain recovery from the global economic meltdown.

The leaders of the largest business associations in the G8 nations Wednesday released the ‘G8 Business Declaration’ as their … Read more »».

Phone link from Kashmir to Pakistan to resume

SRINAGAR – In a bid to facilitate trade, the Indian government has cleared a proposal to permit international calls from Jammu and Kashmir to Pakistan after a gap of 20 years, informed sources said Thursday. This facility will be confined to select trade centres.

The international subscriber dialling (ISD) facility to Pakistan from Jammu and …. Source article on Gaea Times at  : Phone link from Kashmir to Pakistan to resume.

India’s food inflation dips to 16.61 percent

NEW DELHI – India’s annual food inflation declined to 16.61 percent for the week ended April 17 from 17.65 percent a week ago due to a fall in prices of fruits, vegetables and some coarse cereals, official data showed Thursday.

Data on the wholesale price index (WPI) released by the commerce and industry ministry showed the …. Read the original article  : India’s food inflation dips to 16.61 percent.

Euro gains to $1.3209 early Thursday on Greece bailout hopes but contagion fears remain

Euro up on the dollar to $1.3209
BERLIN – The euro is up slightly against the dollar on hopes Germany will speed up approval of a bailout for Greece, but uncertainty remains over the country’s solvency and whether more nations will be sucked into the spiraling debt crisis.

The 16-nation currency bought $1.3209 early Thursday, up from …. Read the original article  : here.

Obama picks San Francisco Fed president Janet Yellen for No. 2 spot on Federal Reserve

Obama to name Yellen as Fed’s No. 2
WASHINGTON – Putting a bigger stamp on the Federal Reserve, President Barack Obama is set to name Janet Yellen as vice chairwoman of the central bank and fill two other vacancies on the board, which has enormous power over Americans’ pocketbooks.
The nominations are subject …. Source article on Gaea Times at  : Obama picks San Francisco Fed president Janet Yellen for No. 2 spot on Federal Reserve.

Senators prepare to debate the details of financial bill after Republicans take down blockade

In financial regs debate, senators look to details
WASHINGTON – Now it’s all about the details.
With Republicans ceding the way for debate, legislation to impose sweeping new controls on financial institutions faces a test from both parties. Some Democrats seek tougher restrictions on banks; some Republicans aim to ease consumer protection provisions.
Senate … Read more »»».

As government prepares to pay Medicare insurers for quality, most seniors in plans that lag

Seniors aren’t flocking to quality health plans
WASHINGTON – Millions of seniors signed up for popular Medicare Advantage insurance plans don’t get the best quality, an independent study found.
How the private plans score on a quality rating system set up by the government is about to have a direct impact on insurers’ finances – …. Original source  : As government prepares to pay Medicare insurers for quality, most seniors in plans that lag.

Germany’s Siemens says 2nd quarter net profit up 48 percent to $1.97 billion, ups outlook

Siemens Q2 profit up 48 percent to $1.97 billion

BERLIN – German industrial conglomerate Siemens AG on Thursday said its net profit in the second quarter rose 48 percent, as cost cuts offset a decline in revenue, and lifted its outlook for 2010.
The company, based in Munich, that makes everything from trams to turbines said net … Read more >>.

Germany’s BASF sees 1st quarter net profit rise to $1.4 billion, expects higher sales in 2010

BASF Q1 profit nearly triples to $1.4 billion

BERLIN – German chemical company BASF SE said Thursday that the economic recovery and a push by customers to restock their own inventories helped it nearly triple its first-quarter net profit.
The company, based in Ludwigshafen and whose interests include plastics, chemicals, oil and gas and agriculture, announced a … Read : Germany’s BASF sees 1st quarter net profit rise to $1.4 billion, expects higher sales in 2010.

Unilever Q1 net profit up 33 percent to $1.28 billion as margins improve

Unilever reports 33 percent rise in Q1 profit

AMSTERDAM – Unilever NV, the maker of Lipton tea, Dove soap and Ben & Jerry’s ice cream, reported a 33 percent rise in first quarter net profit on Thursday, as the company boosted sales by lowering prices and improved margins by cutting costs.
Unilever said net profit of euro973 … Original article on : Unilever Q1 net profit up 33 percent to $1.28 billion as margins improve.

Kerala IT floats global RFPs to build Kochi Infopark-II

KOCHI – Kerala IT, a state government initiative, has floated request of proposals (RFPs) from renowned planners of IT parks to undertake master planning of the second phase of Infopark Kochi.

The Infopark phase-II would have a built up space of approximately eight million square feet and, when completed, would provide 80,000 new jobs.
“We are … Read the original article on Gaea Times at : Kerala IT floats global RFPs to build Kochi Infopark-II.

New 10-Years Government Stock, 2020 – Auction Results

The results of the auction of New 10-Years Government Stock, 2020 held on April 30, 2010 are:

I.

Notified amount

:

Rs.5000.00 crore

II.

Underwriting notified amount

:

Rs.5000.00 crore

III.

Competitive Bids received
(i)    Number
… Read more »»».

Prices of wheat, rice steady, sugar declines: Government

NEW DELHI – Prices of wheat and rice largely remained steady or declined while sugar continued to decline at most places across India over the week ending Thursday, the government said Friday.

The Ministry of Consumer Affairs, Food and Public Distribution said this in a statement after studying the prices at centres monitored by the Department …. Original article  : Prices of wheat, rice steady, sugar declines: Government.

Sensex ends flat, midcaps gain (Second Lead)

MUMBAI – A benchmark index for Indian equities Friday ended flat even as midcap scrips outperformed larger stocks.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,503.47 points, ended at 17,527.82 points (provisional), 24.35 points or 0.14 percent higher than its previous close at 17,503.47 points.
At the … Read this article on Gaea Times at : Sensex ends flat, midcaps gain (Second Lead).

Christie’s jewel auction in Dubai fetches over $8.5 mn

Dubai, April 30 (IANS/WAM) Bidders from 13 countries competed against one another for diamonds and decorative jewellery at leading auction house Christie’s sale here which fetched over $8.5 million (31 million dirhams).

A 17 carat rectangular diamond ring fetched the highest price and sold for $1.3 million, while a 26 carat yellow diamond ring sold for … Original article on : Christie’s jewel auction in Dubai fetches over $8.5 mn.

Gurgaon industries lose Rs.200 crore due to power cuts

GURGAON – Most small and medium industries here are running on diesel due to heavy power cuts since the start of summer and have lost up to Rs.200 crore in delays or loss of production, the Gurgaon Industries Association said Friday.

Many units were getting only three hours of power supply for the past 20 days. … Read this article on Gaea Times at : Gurgaon industries lose Rs.200 crore due to power cuts.

Poll puts Conservative leader Cameron on top after final British election debate

UK poll puts Cameron on top after final debate

LONDON – A new poll has declared Conservative Party leader David Cameron the winner of the final political TV debate before the British election, leaving Prime Minister Gordon Brown fighting to retain power with less than a week to campaign.
The Guardian/ICM poll, published Friday, found that 35 … Read more : Poll puts Conservative leader Cameron on top after final British election debate.

Railways reviewing policy on catering services on trains

NEW DELHI – Concerned with the low quality of food served on trains, the government Friday said it is reviewing its policy on catering services.

“For bringing about overall improvement in the quality of railway catering, the catering policy is being reviewed by the Ministry of Railways,” Minister of State for Railways E. Ahamed told the …. Original article on Gaea Times at  : Railways reviewing policy on catering services on trains.

Anthem Blue Cross withdraws plan to boost rates, will address ‘miscalculations’

No big rate hike for Anthem policyholders
LOS ANGELES – Insurance giant Anthem Blue Cross drew public outrage and criticism by President Barack Obama as a poster child for out-of-control health care costs when it proposed raising rates for Californians by as much as 39 percent.

On Thursday, Los Angeles-based Anthem withdrew plans for the increase.
Anthem made …. Original source  : Anthem Blue Cross withdraws plan to boost rates, will address ‘miscalculations’.

Allahabad Bank posts net profit of Rs.224.50 crore in Q4

KOLKATA – City-based public sector bank Allahabad Bank posted a lower net profit of Rs.224.50 crore (Rs.2,245.069 million) for the fourth quarter (January-March) of fiscal 2009-10 as compared to Rs.264.08 crore (Rs.2,640.851 million) for the corresponding quarter in 2008-09.

Total income has increased to Rs.2,608.60 crore (Rs.26,086.027 million) from Rs.2,373.37 crore (Rs.23,733.744 million) in the fourth … Read more >>.

United Breweries to make wine out of litchis in Bihar

PATNA – Vijay Mallya-promoted United Breweries (UB) is planning to set up a litchi processing plant at Patahi in Bihar’s Muzaffarpur district to make wine, an official said Friday.

The company has taken 100 acres of litchi gardens on lease at Kanti and Motipur blocks in Muzaffarpur. It has plans to take another 1,000 acres from …. Original article  : United Breweries to make wine out of litchis in Bihar.

India to host 2011 World Marketing Congress

NEW DELHI – India will host the 2011 World Marketing Congress, with a special focus on East Africa.

The two-day 38th World Marketing Congress will be organised by the Institute of Marketing and Management Feb 10-11 next year with the theme “Marketing Opportunities and Strategies for East Africa: A Fresh Look”.
The conference will be supported …. Read the original article  : India to host 2011 World Marketing Congress.

Sensex holds on to gains in afternoon trade

MUMBAI – A benchmark index for Indian equities Friday was holding on to its morning gains and ruling 0.5 percent higher than its previous close in afternoon trade.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,503.47 points, was ruling at 17,591.51 points, 88.04 points or 0.5 percent higher than … Read more : Sensex holds on to gains in afternoon trade.

Exports driving Japan’s economic recovery into higher gear, central bank says

Japan’s recovery accelerating, central bank says

TOKYO – Japan received a brighter assessment of its economic future Friday, with a key central bank report highlighting an accelerating recovery and easing price declines.
In its semiannual outlook, the Bank of Japan predicted that the world’s second biggest economy would see faster growth this fiscal year, which began April … Original article on : Exports driving Japan’s economic recovery into higher gear, central bank says.

Obama’s agenda Friday includes remarks on economy, tour of Secret Service training facility

Obama to discuss GDP, tout efforts on job growth

WASHINGTON – President Barack Obama will talk about the nation’s economic growth on Friday.
Obama will comment on the first quarter gross domestic product report from the Rose Garden. He’ll be joined by representatives and workers from two American manufacturers, Itron, a Washington state-based producer of smart energy … Read more »».

Uruguay wants India to set up full mission at Montevideo

NEW DELHI – Uruguay has pushed for a full Indian mission in its capital Montevideo, showcasing the Latin American country as the gateway to the region and to expand bilateral trade and economic relations.

“It will help very much to have an Indian embassy in Montevideo. We have been here in New Delhi now for 12 … Read this article on Gaea Times at : Uruguay wants India to set up full mission at Montevideo.

Global markets push higher amid Greek bailout hopes, US economic data; Tokyo up over 1 pct

Global stocks rise amid Greek bailout hopes

HONG KONG – Asian stocks advanced Friday, following overseas markets higher as signs the U.S. economy was healing and debt-ridden Greece might soon be rescued eased anxiety about the global outlook. European shares gained in early trade.
The broad move higher in Asia marked a turnaround after a string of …. Source article on Gaea Times at  : Global markets push higher amid Greek bailout hopes, US economic data; Tokyo up over 1 pct.

Credit Suisse names new finance chief ahead of shareholders meeting

Credit Suisse swaps CFO ahead of shareholders day

GENEVA – Credit Suisse Group said Friday it would replace its chief financial officer as shareholders gathered in Zurich for what is expected to be a tense general meeting replete with questions about the Swiss bank’s massive bonuses to top executives.
Investment bank chief David Mathers will replace current … Read : Credit Suisse names new finance chief ahead of shareholders meeting.

Oil rises in Asia, shooting above $86 amid signs of US economic strength

Oil rises above $86 on signs of US economic growth

KUALA LUMPUR, Malaysia – Oil prices rose Friday in Asia, shooting above $86 a barrel amid signs the U.S. economy is strengthening.
Benchmark crude for June delivery was up 88 cents to $86.03 a barrel at late afternoon Malaysia time in electronic trading on the New York …. Original article on Gaea Times at  : Oil rises in Asia, shooting above $86 amid signs of US economic strength.

BP shares continue falling under pressure from Gulf oil rig disaster

BP shares keep falling amid Gulf oil rig disaster

LONDON – BP shares continued falling early Friday as the company feels the impact of the massive oil spill from an exploratory well in the Gulf of Mexico.
BP shares were down 2 percent in early trading on the London Stock Exchange, a day after dropping 7 percent … Read more >>>.