Sunday, May 09, 2010

Business News – Newsletter for May 9, 2010

Sunday, May 9, 2010


Turkey keen on FTA, more tourists from India

NEW DELHI – India and Turkey share many things in common, including a parliamentary democracy and secular values, and a Free Trade Agreement between the two countries would be a valued development, Turkish Ambassador to India Levent Bilman has said.

Speaking to select journalists at the Turkish embassy here, Bilman said “India and Turkey are coming [..] Read the original article: here.

India to showcase export potential in Trinidad

Port-of-SPAIN – Even as India’s eyes are on the Caribbean as the cricket fiesta peaks with the T20 World Cup, India’s huge export potential will soon be showcased here at an Indian trade exposition in Trinidad and Tobago.

The Federation of Indian Export Organisations (FIEO), in partnership with the India-Trinidad and Tobago Chamber of Industry and … Read more : India to showcase export potential in Trinidad.

Manipur hit by shortage of essentials, life saving drugs

IMPHAL – The price of petrol soared to Rs.150 a litre while most hospitals were running out of life-saving drugs and oxygen in Manipur Sunday following an indefinite economic blockade launched by various Naga tribal groups Thursday to protest the state government’s decision to prevent separatist leader Thuingaleng Muivah from visiting his birthplace.

“Maybe by …. Original article on Gaea Times at  : Manipur hit by shortage of essentials, life saving drugs.

Amul In Troubled Times

GUJARAT, INDIA (GaeaTimes.com)- All is not well with Amul which is among the biggest food brands of India. The company is going through troubled times. The ouster of its founder, Verghese Kurien has brought the company into loads of problems. The political parties are trying to interfere with the internal affairs of the cooperative …. Source article on Gaea Times at  : Amul In Troubled Times.

Rabindra Jayanti Offer From Vodafone

KOLKATA, INDIA (GaeaTimes.com)- Today is the 150th Birthday Anniversary of Nobel Winning poet and writer Rabindranath Tagore and a lot of programs are being arranged to celebrate the occasion. The Bengalis in West Bengal and especially Kolkata have a special place in their mind for this talented and versatile poet who has left …. Source  : Gaea News Network.

A skirt that looks like a Coca Cola vending machine

LONDON – A skirt that doubles as a disguise, which has been inspired by Japanese ninja assassins, has been unveiled in Japan. When unfolded, it looks like a Coca Cola vending machine.

Aya Tsukioka, 31, hopes that her dress would help ease women’s worry about crime and outfox would-be attackers, Daily Mail reported.
Tsukioka gave a … Read this article on Gaea Times at : A skirt that looks like a Coca Cola vending machine.

Duty on imported sugar will help stabilise prices: Mawana

NEW DELHI – The government should at the earliest levy duty on refined sugar being imported into country as it will not only stabilise the sweetener’s prices but also help the industry cut its losses, said a top official of a sugar company.

“Due to speculation in the market that the government may impose tax, …. Source article on Gaea Times at  : Duty on imported sugar will help stabilise prices: Mawana.

Manufacturing sector to grow 11-12 percent in April-June: Study

NEW DELHI – India’s manufacturing sector is expected to expand 11-12 percent in the April-June quarter, lower than 15 percent expected in January-March, due to sharp increases in raw material prices and insufficient power, according to a survey.

The survey by industry lobby FICCI (Federation of Indian Chambers of Commerce and Industry) said chemical and allied …. Source  : Manufacturing sector to grow 11-12 percent in April-June: Study.

FDI in defence should not be raised to 100 percent: CII

NEW DELHI – Foreign direct investment (FDI) in the defence sector should not be raised to 100 percent from the present 26 percent, says the Confederation of Indian Industry (CII).

“Industry is not in favour of 100 percent FDI in defence segment. Increasing the FDI limit to 49 percent would be beneficial,” said the industry lobby. … Read this article on Gaea Times at : FDI in defence should not be raised to 100 percent: CII.

Selfishness shouldn’t guide business: Nobel laureate Yunus

DHAKA – Bangladeshi Nobel laureate Muhammad Yunus has called for establishing society-oriented business to tackle global poverty and social injustice and added that “selfishness has created a string of socio-economic problems across the globe”.

“If we had created another kind of business on the basis of selflessness, we could have created a different kind of world,” …. Read the original article  : Selfishness shouldn’t guide business: Nobel laureate Yunus.

Brazil oil firm sets oil output record in April

Rio de Janeiro, May 9 (IANS/EFE) Brazilian state-controlled energy giant Petrobras set a new monthly record for oil output in April, producing an average of 2.03 million barrels of crude per day at its domestic fields.

That total eclipsed the previous record – set last September – by 29,000 barrels per day, the company said in [..] Read the original article: here.

20 Spain airports closed due to volcanic ash

Madrid, May 9 (IANS/EFE) Twenty Spanish airports in the northern part of the Iberian peninsula were closed Saturday due to the cloud of ash from the Icelandic volcano of Eyjafjalla, which covered part of Spanish air space.

The decision, which follows the recommendation of the European Organization for the Safety of Air Navigation, or Eurocontrol, was … Original source on Gaea Times at : 20 Spain airports closed due to volcanic ash.

US firm to invest $700 mn in Guatemala power plant

Guatemala City, May 9 (IANS/EFE) Jaguar Energy Guatemala, a subsidiary of Houston-based Ashmore Energy International (AEI), plans to invest a total of $700 million to build a power plant along Guatemala’s south-central coast, a minister said.

The 300 MW plant, to be fed by coal and other solid fuels, will be located in the town of … Read more : US firm to invest $700 mn in Guatemala power plant.

‘Bio-fuel units in Amazon will reduce climate damage’

Tome-Acu (Brazil), May 9 (IANS/EFE) Setting up of palm-oil processing plants in Amazon will help reduce environmental damage and generate wealth for the region, Brazilian President Luiz Inacio Lula da Silva has said.

“This is the start of a revolution in this region,” Lula said in a speech in Tome-Acu, a town in the northern state …. Original source  : ‘Bio-fuel units in Amazon will reduce climate damage’.

China delays Europe flights due to new volcanic eruption

BEIJING – Air China, the country’s international carrier, has announced that it has delayed its European flights due to the new volcanic eruption in Iceland that had spewed a huge ash cloud and again disrupted air traffic in the region.

Flights from Beijing to Sao Paulo, which stops by Madrid, and flights from Beijing to Milan … Read more : China delays Europe flights due to new volcanic eruption.

Source: Glendale, Ice Edge near new agreement on Coyotes lease; NHL wants cash

Source: City, Ice Edge near lease deal for Coyotes

PHOENIX – A person close to the talks says Ice Edge Holdings is nearing agreement on a memorandum of understanding that gives the group exclusive negotiating rights with the city of Glendale on a new lease agreement for the NHL’s Phoenix Coyotes.
The agreement, a necessary step toward … Original source on Gaea Times at : Source: Glendale, Ice Edge near new agreement on Coyotes lease; NHL wants cash.

Embattled 3-term US Sen. Bob Bennett ousted at Utah Republican convention

US Sen. Bob Bennett ousted at Utah GOP convention
SALT LAKE CITY – Republican Sen. Bob Bennett was thrown out of office Saturday by delegates at the Utah GOP convention in a stunning defeat for a once-popular three-term incumbent who fell victim to a growing conservative movement nationwide.
Bennett’s failure to make it … Read : Embattled 3-term US Sen. Bob Bennett ousted at Utah Republican convention.

Huntsman family company will operate Sotheby’s offices in Jackson, Sun Valley

Utah family will operate luxury real estate firm

JACKSON, Wyo. – A Utah family has signed a deal to operate a luxury real estate business in Jackson and Sun Valley, Idaho.
Under the deal announced Friday, a company owned by the Jon M. Huntsman family will hold a 20-year franchise to operate Sotheby’s International Realty offices in … Read more >>>.

Laura Chinchilla sworn in as Costa Rica’s 1st female president, replaces Nobel laureate Arias

Costa Rica inaugurates new President Chinchilla

SAN JOSE, Costa Rica – Adios, peace prize winner. Hola, first female president.
Costa Rica inaugurated Laura Chinchilla as its first woman leader on Saturday, replacing Nobel laureate Oscar Arias with his former vice president and protege. She promises to pursue the same economic policies that recently brought the country into …. Read the original article  : Laura Chinchilla sworn in as Costa Rica’s 1st female president, replaces Nobel laureate Arias.

Service Employees International Union elects health care expert Henry to be president

Powerful SEIU selects Henry as president
WASHINGTON – The nation’s fastest growing labor union has elected a health care expert to be its next president.

The Service Employees International Union selected Mary Kay Henry, head of the union’s health care division, at its meeting on Saturday. She replaces Andy Stern, who is leaving after 14 years of …. Read the original article  : Service Employees International Union elects health care expert Henry to be president.

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