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 >>>.

Benchmarks lose way, mid-caps outperform (Weekly market review)

MUMBAI – Benchmark indices for Indian equities joined global peers to end the week in the red, amid a mixed corporate results season and continuing fears of a sovereign debt default by Greece.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE) fell 0.77 percent or 135.49 points to end at 17,558.71 points Friday. … Original article on : Benchmarks lose way, mid-caps outperform (Weekly market review).

Thousands gather for protests in Athens as anger mounts over expected harsh austerity plan

Greek unions protest expected austerity measures

ATHENS, Greece – Thousands of protesters are gathering in central Athens for rallies fueled by anger at expected harsh austerity measures needed to secure rescue loans for near-bankrupt Greece.
The government is set to announce more sweeping spending cuts through 2012 to win support for an international loan package worth ???45 … Original source on Gaea Times at : Thousands gather for protests in Athens as anger mounts over expected harsh austerity plan.

Mass strikes hit Greece as bailout talks reach climax

ATHENS – Greece’s government was close to clinching a deal Saturday for a multi-billion aid package from fellow eurozone countries and the International Monetary Fund – rejecting calls from striking unions protesting demands to cut wages and raise taxes.

Talks to secure up to 120 billion euros ($160 billion) in European Union and IMF aid to … Read more »».

Malaysia’s Petronas to jointly develop oil blocks with Brunei after ownership dispute ended

Malaysia’s Petronas, Brunei to develop oil blocks

KUALA LUMPUR, Malaysia – Malaysian national oil company Petronas said Saturday that it is in talks with Brunei to jointly develop two offshore oil reserves off Borneo island after the two nations ended a long-standing spat over ownership of the areas.
Both Malaysia and Brunei awarded exploration contracts in 2003 …. Source article  : Malaysia’s Petronas to jointly develop oil blocks with Brunei after ownership dispute ended.

Maruti Suzuki April sales soar 30 percent

NEW DELHI – The country’s largest car maker, Maruti Suzuki, Saturday said sales in April rose around 30 percent to 93,058 units, compared to the corresponding month last year.

The company sold 71,748 vehicles in April 2009. Exports were about 13,024 units, a rise of 89 percent, it said in a statement.
The rise in sales …. Read the original article  : here.

Health care bill schooled WH, Dems on need for speed, message control

Lessons from health bill apply to financial reform
WASHINGTON – Bye, bye, Mr. Nice Guy.
After pursuing bipartisan talks for months on health care and deflecting rather than challenging Republican critics, President Barack Obama and his Democratic allies are deploying a more aggressive approach in their attempt to push financial overhaul legislation through …. Source article on Gaea Times at  : Health care bill schooled WH, Dems on need for speed, message control.

Liberals make little headway in challenge to Democrats who voted ‘no’ on health care

Liberals struggle to challenge Dems on health care
WASHINGTON – Liberals who vowed to take revenge against conservative Democrats who opposed President Barack Obama’s health care law have little to show for their anger six months before the midterm elections.
Most of the 34 Democrats who opposed the overhaul legislation that squeaked through …. Source article  : Liberals make little headway in challenge to Democrats who voted ‘no’ on health care.

Use of ACs to be banned in Uttar Pradesh

LUCKNOW – In view of the power crisis in Uttar Pradesh, use of air conditioners in houses, businesses and government offices has been banned in the state between 6 p.m. and 10 p.m., an official said Saturday.

The order is likely to come into effect Sunday and will remain in force till July 15.
The … Original source on Gaea Times at : Use of ACs to be banned in Uttar Pradesh.

Crowds flock to first day of World Expo 2010

SHANGHAI – Crowds poured into the World Expo 2010 site in Shanghai Saturday as the six-month event opened to the public following a spectacular opening ceremony Friday night.

Tens of thousands of people were queuing before the gates opened, many arriving more than one hour early.
The organisers aim to attract an average of around 400,000 … Read more »»».

Frontier Bank Reopens As Union Bank

EVERETT (GaeaTimes.com)-Frontier Bank is finally closing up. The decision came upon as the state regulators went ahead with their final decision which seals the fate of Frontier Bank forever. However the bank shall once again reopen its gates as Union Bank owing to the decision taken by the Federal Deposit Insurance Commission.
As a matter …. Original article on Gaea Times at  : Frontier Bank Reopens As Union Bank.

Subhashini Chandran named 2010 Yale World Fellow

WASHINGTON – Subhashini Chandran, a business and social entrepreneur who owns and manages the largest privately owned tea plantation business in India, has been named of one the 15 Yale World Fellows for 2010.

Chandran, the CEO of the Woodbriar Group and the Managing Director of the Tea Estates India Ltd, has diversified interests in insurance …. Original article on Gaea Times at  : Subhashini Chandran named 2010 Yale World Fellow.

Mexico’s GDP grows 4 pct in 1Q; 3rd straight quarterly expansion as US production recovers

Mexico reports economy expanded 4 percent in 1Q

MEXICO CITY – Mexico says its economy expanded an estimated 4 percent in the first quarter, the third consecutive period of growth following a punishing recession.
The Treasury Department says exports grew significantly in part due to a rebound in U.S. industrial production.
Oil revenues rose 17.7 percent largely due … Read the original article on Gaea Times at : Mexico’s GDP grows 4 pct in 1Q; 3rd straight quarterly expansion as US production recovers.

McNeil recalls children’s over-the-counter liquid cold, allergy meds that don’t meet standards

Children’s liquid cold, allergy medicine recalled

WASHINGTON – More than 40 over-the-counter infant’s and children’s liquid medications are being recalled in the United States and 11 other countries because they don’t meet quality standards.
McNeil Consumer Healthcare issued the recall for children’s versions of Tylenol, Tylenol Plus, Motrin, Zyrtec and Benadryl after consulting with the Food and … Read more : McNeil recalls children’s over-the-counter liquid cold, allergy meds that don’t meet standards.

Regulators shut down 7 banks in Puerto Rico, Mo., Mich., Wash.; brings total to 64 this year

Banks closed in Puerto Rico, Mich., Mo., Wash.

WASHINGTON – Regulators on Friday shut down three banks in Puerto Rico, two in Missouri, and one each in Michigan and Washington, bringing the number of U.S. bank failures this year to 64.
The Federal Deposit Insurance Corp. took over the banks: Westernbank Puerto Rico, based in Mayaguez, with … Read more >>.

Kansas’ April revenue collections miss mark by $65M, complicating budget debate

Kansas revenues miss April estimate by $65M

TOPEKA, Kan. – April’s Kansas revenue collections missed estimates by $65.3 million, officials said Friday, further challenging the Republican-controlled Legislature and Democratic Gov. Mark Parkinson who must balance the state budget.
Individual income taxes were off by about $74.7 million, a reflection of continued weakness in the Kansas job market. …. Original source  : Kansas’ April revenue collections miss mark by $65M, complicating budget debate.

Hawaii civil unions in hands of Gov. Lingle, who hasn’t decided on the issue

Hawaii governor to decide on civil unions
HONOLULU – Whether same-sex civil unions become legal in Hawaii is now up to Republican Gov. Linda Lingle, whose office was flooded Friday with phone calls and e-mails from gay rights and religious groups after the bill won approval in the waning moments of the legislative session.

Lingle has long …. Original article on Gaea Times at  : Hawaii civil unions in hands of Gov. Lingle, who hasn’t decided on the issue.

Conn. Senate passes temporary TARP bonus tax, GOP says bill hurts state’s pro-business image

Conn. Senate votes to tax TARP bonuses
HARTFORD, Conn. – A bill that would impose an extra tax on bonuses paid to Connecticut employees of investment banks and insurers that received federal bailout aid during the economic crisis has passed the state Senate.

The proposal was approved on a 21-14 vote on Friday and now moves to … Read more : Conn. Senate passes temporary TARP bonus tax, GOP says bill hurts state’s pro-business image.

Federal regulators block TierOne’s proposed sale of 32 branches, leaving bank’s future unclear

Feds block TierOne’s proposed sale of 32 branches

OMAHA, Neb. – Federal regulators have blocked TierOne Bank’s proposed sale of 32 branches to Great Western Bank, leaving the future of the Lincoln-based financial institution uncertain.
The federal Office of Thrift Supervision denied the proposal for the bank to sell nearly half its full-service branches in a filing … Original article on : Federal regulators block TierOne’s proposed sale of 32 branches, leaving bank’s future unclear.

With Russell, Campbell taking snaps, quarterback remains focus as Raiders open minicamp

Russell shows up as Raiders open minicamp
ALAMEDA, Calif. – The questions about JaMarcus Russell’s immediate future in Oakland were answered Friday when he took the field for a minicamp with newly acquired Jason Campbell and the rest of his Raiders teammates.

Still unclear is the long-term future for the former No. 1 overall pick.
The team acquired …. Original source  : With Russell, Campbell taking snaps, quarterback remains focus as Raiders open minicamp.

Bankruptcy trustee selects independent examiner to probe 2007 buyout of Tribune Co.

Examiner chosen in Tribune bankruptcy
DOVER, Del. – The trustee in the Tribune Co.’s bankruptcy has appointed an independent examiner to review the 2007 leveraged buyout of the media conglomerate.

The trustee submitted a court filing on Friday appointing Kenneth Klee, a California bankruptcy lawyer and law professor at UCLA, as examiner, subject to court approval.
Klee will … Original source on Gaea Times at : Bankruptcy trustee selects independent examiner to probe 2007 buyout of Tribune Co..

‘Expo passport’ a hot cake at Shanghai World Expo

BEIJING – Visitors at Shanghai World Expo are thronging the stalls of “Expo Passport” to buy the rare document with seals of all participating countries and carry it as a memento of their tour.

In the first two days of the six-month event, the “Expo Passport” has become popular among hundreds of thousands of Expo visitors, … Original article on : ‘Expo passport’ a hot cake at Shanghai World Expo.

German finance minister: ‘Good chance’ of getting German approval for Greek aid by Friday

Germany says ‘good chance’ of approval by Friday

BRUSSELS – Germany’s finance minister says there is a “good chance” that his country will approve a joint eurozone and International Monetary Fund rescue package for Greece by Friday.
Under the plan, the other 15 EU countries that use the euro will extend loans to Greece, as will the …. Original article on Gaea Times at  : German finance minister: ‘Good chance’ of getting German approval for Greek aid by Friday.

Republicans see growing political opportunities as support for Obama, Democrats slides

GOP expands political playing field; Dems slipping

WASHINGTON – Republicans are on offense in scores of House and Senate races as persistent economic woes and lukewarm support for President Barack Obama continue to weaken Democrats’ hold on Congress.
The president and his party are determined to minimize the losses six months before the November elections. But Democrats …. Original source  : Republicans see growing political opportunities as support for Obama, Democrats slides.

Hamas says it can’t pay full salaries for second month in a row, but denies financial crisis

Hamas: Gaza civil servants to get partial salaries

GAZA CITY, Gaza Strip – An official says Gaza’s Hamas government can’t pay its 32,000 employees in full for the second straight month.
Deputy Finance Minister Ismail Mahfouz denied Sunday that the Islamic militants are caught in a cash crunch, but says Hamas is having trouble getting money into …. Source  : Gaea News Network.

Competition Commission Of India Investigates Coal India Deal

NEW DELHI, INDIA (GaeaTimes.com)-Coal India which happens to be run by the State Government has gone ahead to have fall under the scan check of Competition Commission Of India (CCI) which shall be keeping an eye owing to the tie up for mining explosives supply coming form an unknown company which never offered its … Read this article on Gaea Times at : Competition Commission Of India Investigates Coal India Deal.

Israel’s Netanyahu welcomes Arab decision to back indirect peace talks with Palestinians

Israel’s PM welcomes progress toward peace talks

JERUSALEM – Israel’s prime minister on Sunday welcomed Arab nations’ endorsement of indirect, U.S.-brokered peace talks with the Palestinians, saying he is ready to restart negotiations “at any time and at any place.”
Israeli and Palestinian officials said they expect the talks to begin by early next week, and one … Read this article on Gaea Times at : Israel’s Netanyahu welcomes Arab decision to back indirect peace talks with Palestinians.

Greece to cut deficit by 30 bn euro in three years

ATHENS/BRUSSELS – Greece sealed a multi-billion euro bailout deal with the European Union and International Monetary Fund Sunday with a promise to cut its deficit by 30 billion euros over three years.

Warning that the financial plan would require major sacrifices from the Greek people, Prime Minister George Papandreou said he would “do anything to avoid …. Source article  : Greece to cut deficit by 30 bn euro in three years.

Australia proposes 40 percent tax on mining profits booming due to China, India demand

Australia looks at 40 percent tax on mining profit

CANBERRA, Australia – Australia would heavily tax the booming profits of its mining companies under a tax system overhaul proposed Sunday that also would invest in infrastructure to support mining operations and reduce corporate taxes.
The new 40 percent tax on resource profits targets industries that have grown … Read more »».

Greek finance minister outlines deep spending cuts as part of deal with IMF and EU for rescue

Greece outlines harsh spending cuts before bailout

ATHENS, Greece – Greece reached agreement with the European Union and the International Monetary Fund on rescue loans to keep Athens from defaulting on its debts, a deal that will impose harsh cuts on the county’s 11 million people for years.
The first ever bailout of one of the 16 … Read more : Greek finance minister outlines deep spending cuts as part of deal with IMF and EU for rescue.

Capturing journey of Indian currency notes

CHANDIGARH – Some bank notes bore the side profile picture of King George V, some were of Rs.10,000 and Rs.5,000 denomination – none of them in circulation any more. There were also valuable tips on how to tell counterfeit currency.

A unique exhibition showcased here by the Reserve Bank of India (RBI) captured the journey …. Source  : Gaea News Network.

EU Commission backs Greek rescue package after calling Athens measures solid and credible

EU Commission backs Greece on aid package
BRUSSELS – EU Commission President Jose Manuel Barroso has backed the Greek rescue package after calling Athens measures “solid and credible.”

Barroso said Sunday he recommends that the aid measures be approved. Eurozone finance ministers meet on the issue later Sunday.
Barroso says such aid will be “decisive” in getting Greece …. Source  : EU Commission backs Greek rescue package after calling Athens measures solid and credible.

Greek finance minister outlines harsh spending cuts as part of deal for rescue package

Greek FM outlines harsh spending cuts
ATHENS, Greece – Greece’s finance minister has outlined harsh spending cuts and tax increases necessary to free up billions of euros in a joint International Monetary Fund and eurozone rescue for the debt-ridden country.

George Papaconstantinou said Sunday the government is faced with a “choice between collapse or salvation” of the … Read : Greek finance minister outlines harsh spending cuts as part of deal for rescue package.

Greek finance minister outlines harsh spending cuts as part of deal for rescue package

Greek FM outlines harsh spending cuts
ATHENS, Greece – Greece’s finance minister has outlined harsh spending cuts and tax increases necessary to free up billions of euros in a joint International Monetary Fund and eurozone rescue for the debt-ridden country.

George Papaconstantinou said Sunday the government is faced with a “choice between collapse or salvation” of the …. Source  : Greek finance minister outlines harsh spending cuts as part of deal for rescue package.

800,000 visitors expected at Beijing auto show

BEIJING – A record 800,000 people are expected to visit this year’s Beijing auto show, authorities said Sunday.

The event had received more than 700,000 visitors as of May 1. As many as 145,900 people visited Saturday, said a statement from the organising committee on its official website Sunday.
The 2010 Beijing International Automotive Exhibition … Original source on Gaea Times at : 800,000 visitors expected at Beijing auto show.

Spanish public sector set to shrink

Madrid, May 2 (IANS/EFE) Spain will cut the number of high-level positions in the public sector and reduce the number of state-run companies, a move that will save the government 16 million euro ($22.4 million) annually.

The public sector reduction announced by the government Friday will involve merging or closing 29 state-run companies – out of … Original source on Gaea Times at : Spanish public sector set to shrink.

Greek prime minister: Agreement reached on deal with IMF and EU for rescue package

Greek leader says agreement reached on aid deal

ATHENS, Greece – Greece has reached agreement with the EU and IMF on an aid package to stave off bankruptcy, and has no choice but to implement new harsh austerity measures, including cuts to civil servants’ salaries and pensions, Prime Minister George Papandreou said.
Papandreou said his government reached … Original article on : Greek prime minister: Agreement reached on deal with IMF and EU for rescue package.

Greek prime minister: Agreement reached on deal with IMF and EU for aid package

Greek leader say agreement reached on deal

ATHENS, Greece – Prime Minister George Papandreou says Greece has reached agreement with the IMF and European Union on a rescue package for the debt-laden country.
His government on Sunday is set to announce harsh spending cuts through 2012, as part of the loan agreement worth some euro120 billion ($159 …. Read the original article  : Greek prime minister: Agreement reached on deal with IMF and EU for aid package.

36,000 Chinese graduates to be hired as village officials

BEIJING – China plans to recruit 36,000 college graduates this year as village officials, authorities said.

A notice issued by the Organization Department of the Communist Party of China (CPC) Central Committee said that from 2008 to 2012 the country will employ 200,000 students-turned village officials, Xinhua news agency reported.
Currently, some 200,000 college graduates are … Original source on Gaea Times at : 36,000 Chinese graduates to be hired as village officials.

Government urged to allow import of second hand capital goods

NEW DELHI – The Federation of Indian Chambers of Commerce and Industry (Ficci) has urged the government to formulate rules for the import of second hand capital goods and make those accessible to the industry.

The import will provide the industry quality equipment and safety to the workers, said the industry lobby in a letter to …. Original article  : Government urged to allow import of second hand capital goods.

Business confidence up, India Inc pegs growth over 7 percent

NEW DELHI – Business confidence in India has improved and a majority of companies across the country expect the economic growth to be more than 7 percent, reveals a survey by the Confederation of Indian Industry (CII).

“Business Confidence Index for April-September 2010-11 improved by 1.5 points to 67.6 as compared to a 7.4 point increase …. Source  : Gaea News Network.