MTNL not seeking concessions on 3G price: Kuldip Singh

NEW DELHI – Mahanagar Telephone Nigam Ltd (MTNL) chairman and managing director Kuldip Singh Thursday said the state-run telecom operator has not sought any concessions from the government on the auction price for third generation (3G) spectrum.

“We are not seeking any concessions. We are still discussing things with the board and the government,” Singh told … Read the original article on Gaea Times at : MTNL not seeking concessions on 3G price: Kuldip Singh.

Fading of inflation keeps rates low and makes it cheaper to buy a car or refinance a mortgage

Fading of inflation helps buyers and borrowers

WASHINGTON – It’s a good time to buy a car, refinance a mortgage, hit the road or shop for clothes.
Invest in a saving account? Forget it.
Consumer inflation has all but disappeared, the government reported Wednesday. The Federal Reserve may now be emboldened to keep interest rates at record lows … Original source on Gaea Times at : Fading of inflation keeps rates low and makes it cheaper to buy a car or refinance a mortgage.

Indian goods trans-shipment via Bangladesh may start in July

DHAKA – The trans-shipment of Indian cargo through Bangladesh is likely to begin in July, authorities said.

The customs department of the National Board of Revenue has drafted a circular regarding the trans-shipment and sent the proposal to the law and parliamentary affairs ministry for vetting, NBR sources told New Age newspaper.
According …. Source article  : Indian goods trans-shipment via Bangladesh may start in July.

Asian markets lower, Europe gains in early trading as investors mull debt crisis

Asian markets fall, Europe gains in early trading

SINGAPORE – Asian stock markets were lower Thursday, but European shares rebounded as investors mulled the impact of financial upheaval in Europe amid concern the continent may be unable to quickly resolve its debt crisis.
As trading to started in Europe, Britain’s FTSE 100 rose 0.8 percent, Germany’s DAX …. Original source  : Asian markets lower, Europe gains in early trading as investors mull debt crisis.

Theme-based lounge bar business picking up in metropolitan cities

NEW DELHI/CHANDIGARH – Influenced by the western trends, the theme ‘Lounge Culture’ is picking up pace among youngsters in metro cities.

In recent years, the lounge bar has emerged on the map of tidings in a city as a popular spot for.

“The culture now is more westernised, the system of having fun, so what we think … Read : Theme-based lounge bar business picking up in metropolitan cities.

All telecom stocks in green a day after 3G auction

NEW DELHI – Indian stock markets Thursday reacted positively to telecom companies winning precious airwaves for third generation (3G) phone services, with all their scrips trading in the green a day after the conclusion of auctions.

But analysts remained concerned over the high debt these companies may have to bear to pay off the licence fee …. Original article  : All telecom stocks in green a day after 3G auction.

Atlantis astronauts finally get to relax in orbit, only 1 more spacewalk remaining

Atlantis astronauts finally get to relax in orbit

CAPE CANAVERAL, Fla. – The Atlantis astronauts finally get a chance to relax in orbit, following two grueling spacewalks.
Only one spacewalk remains for the shuttle crew, on Friday. The astronauts will finish installing batteries at the International Space Station.
Two of the crew replaced four space station batteries during [..] Read the original article: here.

Dubai World says it’s won support for restructuring bid from group of leading creditors

Dubai World says it has deal with top creditors

DUBAI, United Arab Emirates – Dubai World said Thursday it has reached a deal “in principle” with a majority of its creditors on the company’s $23.5 billion restructuring plan.
The indebted state company – at the center of Dubai’s overall immense debt pile – said a coordinating committee [..] Read the original article: here.

Oil rises above $70 in Asia as mixed US supply data slows steep May sell-off

Oil rises above $70 amid mixed US supply data

SINGAPORE – Oil prices rose above $70 a barrel Thursday in Asia, recovering from an eight-month low after the European debt crisis battered crude this month.
Benchmark crude for June delivery was up 80 cents to $70.67 a barrel at late afternoon Singapore time in electronic trading on … Read more >>>.

SABMiller full year profit up 1.5 pct in a ‘difficult’ market with strong results in Americas

SABMiller annual profit up 1.5 pct in tough market

LONDON – SABMiller PLC, the world’s second-largest brewer, on Thursday posted a modest rise in profit for the full year as strong growth in the Americas, where it owns a stake in MillerCoors, helped it through an otherwise difficult market.
SABMiller, brewer of Grolsch, Pilsner Urquell and Peroni … Original article on : SABMiller full year profit up 1.5 pct in a ‘difficult’ market with strong results in Americas.

Food inflation rises to 16.49 percent

NEW DELHI – India’s annual food inflation edged up for the second straight week, rising to 16.49 percent for the week ended May 8, official data released Thursday showed.

The food inflation stood at 16.44 percent the previous week, up from 16.04 percent for the week ended April 24.
Data on the wholesale price index (WPI) …. Original article on Gaea Times at  : Food inflation rises to 16.49 percent.

NKorea, Iran, Japan base issues overshadow key US-China strategic and economic talks

Security issues overshadow Clinton’s Asia trip
WASHINGTON – Secretary of State Hillary Rodham Clinton is embarking on a three-nation tour of Asia whose centerpiece – a new round of U.S.-China strategic and economic talks – is likely to be overshadowed by a crisis with North Korea, possible new sanctions on Iran and the debate …. Original article  : NKorea, Iran, Japan base issues overshadow key US-China strategic and economic talks.

Novartis ordered to pay 250 m dollars to sexually harassed female sales reps

NEW YORK – A Manhattan jury has asked drugs giant Novartis to cough up 250 million dollars in punitive damages to thousands of female sales reps who were victims of gender discrimination.

The award came two days after jurors in the Manhattan Federal Court case awarded 3.3 million dollars in compensatory damages to 12 plaintiffs, who … Read the original article on Gaea Times at : Novartis ordered to pay 250 m dollars to sexually harassed female sales reps.

Canada’s seeks India, China support against global bank tax

TORONTO – Before G8 and G20 summits here next month can discuss a proposed global bank tax, Canada, whose banks stood out during the economic meltdown, has mounted an international effort to scuttle the idea. To get the US, India, China and other economies on their side and scuttle the idea, three Canadian ministers have … Read : Canada’s seeks India, China support against global bank tax.

New Indonesian finance minister, former bank CEO, says he will continue on reform path

Indonesia’s new finance chief: reforms will go on

JAKARTA, Indonesia – Indonesia’s new finance minister pledged Thursday to continue with the reform agenda started by his predecessor, who maintained economic growth but angered some with her anti-corruption sweep and tax enforcement.
Agus Martowardojo, CEO of state-owned Bank Mandiri – the country’s largest bank – was named Wednesday … Read more >>.

Angry at austerity measures, Greek unions to hold new general strike, protests

Greek unions hold new general strike against cuts

ATHENS, Greece – Greek workers held a general strike against the government’s austerity measures Thursday, two weeks after the previous day of protests deteriorated into rioting in which three people died in a burning bank.
Ferries stayed tied up at port, buses, the Athens metro and trains suspended services, …. Original article on Gaea Times at  : Angry at austerity measures, Greek unions to hold new general strike, protests.

Asian markets mostly lower as Europe debt crisis keeps investors jittery

Asian markets lower amid Europe debt doubts

SINGAPORE – Asian stock markets were lower Thursday, as financial upheaval in Europe continued to reverberate around the globe, with continued fears the continent will be unable to quickly resolve its debt crisis.
Japan’s benchmark Nikkei 225 stock average was off 1.5 percent at 10032.26 after the government said the …. Source article on Gaea Times at  : Asian markets mostly lower as Europe debt crisis keeps investors jittery.

ATM inventor dead

LONDON – John Shepherd-Barron, who invented the world’s first automatic cash dispensing machine, better known as ATM, is dead. He had come up with the idea after wondering why banks couldn’t operate a system like a chocolate-vending machine.

John had also thought of the four-digit Pin number.
He died in a hospital in Inverness Saturday after …. Source  : ATM inventor dead.

Oil gains to above $70 in Asia as mixed US supply data slows steep May sell-off

Oil gains to above $70 amid mixed US supply data

SINGAPORE – Oil prices rose above $70 a barrel Thursday in Asia, recovering from an eight-month low after the European debt crisis battered crude this month.
Benchmark crude for June delivery was up 44 cents to $70.31 a barrel at midday Singapore time in electronic trading on [..] Read the original article: here.

Singapore’s economy soars 16 percent in 1Q as manufacturing spurs comeback from recession

Singapore’s GDP soars 16 percent in first quarter

SINGAPORE – Singapore revised up its first quarter economic growth to a blistering 16 percent as manufacturing, finance and tourism roared back from last year’s recession.
Gross domestic product grew 15.5 percent in the first quarter from a year earlier, up from an initial estimate last month of 13.1 … Read this article on Gaea Times at : Singapore’s economy soars 16 percent in 1Q as manufacturing spurs comeback from recession.