Wednesday, May 19, 2010

Business News – Newsletter for May 19, 2010

Wednesday, May 19, 2010


Allotting panchayat land for golf course illegal: Congress

CHANDIGARH – The Congress has termed as “illegal” and “unconstitutional” the Punjab government’s decision to persuade village panchayats to allot land in their area on lease to a private company to set up a golf course.

According to a report of the state-empowered committee on mega projects — a meeting of which was held in February … Original source on Gaea Times at : Allotting panchayat land for golf course illegal: Congress.

Delhi airport’s new terminal promises faster check-ins

NEW DELHI – Come July, passengers flying out of the upcoming terminal at the Indira Gandhi International Airport won’t have to encounter serpentine queues at the check-in counters, thanks to a new system that also promises huge savings for airlines.

Called the common use passenger processing system, or Cupps, it does away with the need for … Original source on Gaea Times at : Delhi airport’s new terminal promises faster check-ins.

Thai protesters attack local TV station, stock exchange; newspaper evacuates staff.

Thai protesters attack TV station, stock exchange

BANGKOK – Staff at the Thai local TV station Channel 3 say their building has been attacked by Red Shirt protesters.
One staffer said cars parked outside the building were set on fire and protesters then entered the Channel 3 building.
A journalist said the Red Shirts also set fires at …. Source  : Gaea News Network.

Why consumers feel confident about some choices

WASHINGTON – The confidence of consumers when making a choice depends on how easy the choice seems and whether the person making the choice is thinking concretely or abstractly, according to experts.

Claire I. Tsai from University of Toronto and Ann L. McGill from University of Chicago, the authors of the study, insist that abstract …. Source article  : Why consumers feel confident about some choices.

World stocks sharply down on investor concern European woes will drag on global economy

World stocks drop on European economy concerns

SINGAPORE – World stock markets fell Wednesday amid investor concern weak European spending will drag on global economic growth as the euro dropped to a fresh four-year low.
Traders are fearing the deep government spending cuts in some European countries that are part of a $1 trillion debt bailout package … Original article on : World stocks sharply down on investor concern European woes will drag on global economy.

US faces opposition from Turkey, Brazil, Lebanon on proposed new Iran sanctions resolution

Proposed Iran sanctions face opposition
UNITED NATIONS – The United States and its Western allies won crucial support from Russia and China for new sanctions against Iran over its suspect nuclear program, but they now face a tough campaign to get backing from the rest of the U.N. Security Council.

The draft resolution, obtained Tuesday by The [..] Read the original article: here.

CDMA operators ask government to accept TRAI proposals

NEW DELHI – CDMA operators have asked the government to accept the telecom regulator’s recommendations on capping of spectrum in circles, cost for buying additional spectrum, and mergers and acquisitions, without caving in to the GSM players’ pressure.

“TRAI recommendations are pro-consumer and will help bridge digital divide by linking spectrum allocation with roll-out obligations. These …. Read the original article  : here.

Rural Electrification Corp Q4 net up 45 percent

MUMBAI – State-run Rural Electrification Corp (REC) Wednesday said its net profit for January-March quarter increased by 44.6 percent to Rs.561.17 crore as against Rs.388.04 crore in the like period a year ago.

The company’s total income jumped by 29.2 percent to Rs.1,869.57 crore for the quarter ended March 2010 as compared to Rs.1,447.09 crore in … Read this article on Gaea Times at : Rural Electrification Corp Q4 net up 45 percent.

Oil falls to near $68 in Asia on investors concern Europe crisis will drag on global economy

Oil falls near $68 to 8-month low on Europe fears

SINGAPORE – Oil prices fell to near $68 a barrel Wednesday in Asia, extending losses to an eight-month low as mixed U.S. crude supply figures failed to stem a two week sell-off.
Benchmark crude for June delivery was down $1.06 to $68.35 a barrel at late afternoon … Read more »».

Hyundai plans $550 million new engine unit in India

SEOUL – Hyundai Motor plans a $550 million diesel engine plant in India with locally-sourced components to give customers a wider choice and consolidate its position as the country’s largest exporter of passenger cars, top officials said.

“We concluded a feasibility study on a new diesel engine plant in India around three months ago. I think, …. Source article on Gaea Times at  : Hyundai plans $550 million new engine unit in India.

Democratic leaders like having Paul as Republican target heading into general election

Democrats relish Paul’s GOP win in Ky. Senate race

BOWLING GREEN, Ky. – Democratic leaders were relishing the Republican primary victory of tea party candidate Rand Paul, suggesting he will be an easy target for them in November for Kentucky’s U.S. Senate seat.
In a closely watched race across the country as a test of the tea …. Original source  : Democratic leaders like having Paul as Republican target heading into general election.

Sestak, Toomey race for US Senate will focus on jobs, economy as candidates eye fall campaign

Sestak, Toomey race will be about jobs, economy
PHILADELPHIA – Joe Sestak had barely won the Democratic nod to run for U.S. Senate before he pledged to begin the next campaign within a matter of hours.
Sestak, a second-term congressman from suburban Philadelphia and a former Navy admiral, will face off against Republican …. Source article on Gaea Times at  : Sestak, Toomey race for US Senate will focus on jobs, economy as candidates eye fall campaign.

Cigarette makers sow uncertainty in tobacco country as they cut contracts with US farmers

Big Tobacco cutting contracts with US farmers

CYNTHIANA, Ky. – After years of faithfully supplying leaf to tobacco giant Philip Morris International, farmer Jess Burrier received a postcard, thanking him for his contributions and telling him his service wasn’t needed this year.
“They were very courteous, but a Dear John letter’s still a Dear John letter,” said … Read this article on Gaea Times at : Cigarette makers sow uncertainty in tobacco country as they cut contracts with US farmers.

Germany’s Merkel: Europe faces historic test as it works to shore up euro

Merkel: Europe faces historic test in euro crisis

BERLIN – Europe faces an “existential” test in its effort to shore up the euro, German Chancellor Angela Merkel said Wednesday, as she pushed for tougher regulation of markets and tighter public finances across the region.
Merkel told lawmakers that closer oversight of the financial world was needed to [..] Read the original article: here.

Senate sees finish line on Wall Street rules, key vote to end debate looms Wednesday

Senate readies for end game on Wall Street rules

WASHINGTON – An exhausted, occasionally cranky Senate is turning into the home stretch on a weekslong effort to pass a massive financial regulation bill.
Senators were scheduled to vote Wednesday to end debate on the legislation. Still, several issues remained unresolved and tempers were running short on the … Read : Senate sees finish line on Wall Street rules, key vote to end debate looms Wednesday.

China’s Geely plans to make world’s cheapest car

BEIJING – Chinese manufacturer Geely plans to unveil a budget city car which would cost less than the Indian-made Tata Nano.

The new Geely IG would sell for around $2,250 when it goes on sale in China in 2012. That compares to an asking price of between $2,700 and $3,800 for the Nano in India.
The …. Source article  : China’s Geely plans to make world’s cheapest car.

Immigration expected to dominate Obama-Calderon meetings, with new Arizona law sparking debate

Immigration highlighted in Obama-Calderon meetings
WASHINGTON – Propelled by a new Arizona law, the debate over immigration reform will take center stage when President Barack Obama welcomes Mexico’s Felipe Calderon to the White House and could overshadow the drug wars as the prime topic in talks between the two countries for the first time …. Source  : Gaea News Network.

Goa industry mulls conveyor belts to transport ore

PANAJI – Mining industries in Goa are mulling the possibility of setting up a network of conveyor belts to transport ore from the mining pits to the port from where it is exported, an industry insider said Wednesday.

Secretary of the Goa Mineral Ore Exporters Association (GMOEA) Glen Kalavampara said a string of conveyor belts may … Read more >>>.

Taiwan leader says improved ties may compel China to dismantle missiles aimed at island

Taiwan leader says China may dismantle missiles

TAIPEI, Taiwan – China could feel compelled to dismantle the more than 1,000 missiles it has pointed at Taiwan as relations between the rivals improve, the island’s president said Wednesday.
Ma Ying-jeou said the easing of tensions across the 100-mile-(160 kilometer-) wide Taiwan Strait makes it increasingly difficult for Beijing … Original source on Gaea Times at : Taiwan leader says improved ties may compel China to dismantle missiles aimed at island.

How companies can secure brand loyalty

WASHINGTON – When a firm picks a single celebrity to endorse their brand, it can backfire – just like Tiger Woods’ recent indiscretions affected Accenture. Now, a new research has examined different ways to secure brand loyalty.

“A widely applied method for improving how people feel about a brand is to pair the brand with positive … Read more »»».

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