Monday, May 24, 2010

Business News – Newsletter for May 24, 2010

Monday, May 24, 2010


Corruption will be dealt with but Raja’s done no wrong: PM

NEW DELHI – Assuring that corruption will be dealt with at any level, Prime Minister Manmohan Singh Monday said auction of airwaves to telecom firms was above board and gave a clean chit to Communications Minister A. Raja, pending conclusion of a probe.

“What he (Raja) did was implement a policy that was already in place,” …. Original article  : Corruption will be dealt with but Raja’s done no wrong: PM.

Spicejet is five years old, expects higher growth

NEW DELHI – Low-cost airline SpiceJet has completed five years of operations, and is expecting higher growth in the coming years.

“Despite the challenges in the business environment, we have been able to sustain our growth and the future looks bright for us,” chief executive Sanjay Aggarwal said in a statement.
The airline has over 12 …. Original article  : Spicejet is five years old, expects higher growth.

Financial overhaul bill gives Obama another big win on Hill, but may not help Dems in November

Obama’s big wins on bills may not help Democrats
WASHINGTON – Anxious and angry, Americans are not in a congratulatory mood. That’s bad news for President Barack Obama and his Democratic allies.
After winning a landmark health care overhaul earlier this year, Obama now stands on the brink of seeing Congress approve the most far-reaching …. Source  : Gaea News Network.

Mayawati’s yes for special force for statues, memorials

LUCKNOW – Uttar Pradesh Chief Minister Mayawati is set to go ahead with her decision to form a special force to protect her multi-billion dream projects — memorials and statues, officials said Monday.

“We will have the new outfit in place by next month. We commenced the recruitment exercise a couple of months ago,” disclosed state …. Original article on Gaea Times at  : Mayawati’s yes for special force for statues, memorials.

Indian prime minister: “major effort” under way to bridge Indo-Pakistan divide

India PM: “major effort” in Indo-Pakistan talks
NEW DELHI – India’s prime minister said Monday a major diplomatic effort was under way to improve ties between India and Pakistan, and that he was hopeful the talks would succeed.
Prime Minister Manmohan Singh’s comments came three weeks after he and Pakistani Prime Minister Yousuf Raza Gilani … Read more >>.

British Airways cabin crew begin strike, but airline says most passengers will fly anyway

British Airways cabin crew begin 5-day strike

LONDON – Thousands of British Airways cabin crew began a five-day strike Monday, though the airline claimed it will still be able to carry 70 percent of passengers who have booked flights.
The walkout in the increasingly bitter feud follows the failure of weekend talks between the Unite union and … Original source on Gaea Times at : British Airways cabin crew begin strike, but airline says most passengers will fly anyway.

Bangladesh preparing to import Indian power

DHAKA – Bangladesh will allocate Taka 17 billion ($245 million) in its annual budget next month for constructing the infrastructure necessary to import 500 MW of electricity from India, an official said.

Finance minister Abul Maal Abdul Muhith has consented to the allocation.
A senior official of the power ministry said that the allocation would … Original article on : Bangladesh preparing to import Indian power.

Astronauts need to conduct a last safety inspection of Atlantis before Wednesday’s return

Astronauts need a last inspection of Atlantis

CAPE CANAVERAL, Fla. – The Atlantis astronauts have some surveying work ahead of them, now that they’re flying free of the International Space Station.
The six shuttle astronauts will pull out their newly repaired inspection boom on Monday to check for any micrometeorite damage that might have occurred during the … Read : Astronauts need to conduct a last safety inspection of Atlantis before Wednesday’s return.

PETA’s stock-buying campaign takes animal welfare protests from street corner to boardroom

PETA buys stock to gain influence in boardrooms

DES MOINES, Iowa – An animal-rights group known for sending out scantily clad demonstrators to protest fur and other provocative stunts has gained influence in boardrooms with a more traditional tactic: buying company stock.
People for the Ethical Treatment of Animals has been buying shares for seven years and …. Original article on Gaea Times at  : PETA’s stock-buying campaign takes animal welfare protests from street corner to boardroom.

Indian economy performed best, inflation will be tackled: PM (Second Lead)

NEW DELHI – India performed better than most global economies and will grow at 10 percent in the medium term with moderate inflation even as social inclusion would remain at the core of government agenda, Prime Minister Manmohan Singh said Monday.

“The agenda for our second term seeks to strengthen a pro-people policies and programmes initiated …. Original article on Gaea Times at  : Indian economy performed best, inflation will be tackled: PM (Second Lead).

Clinton says NKorea has created a ‘highly precarious’ security situation on Korean peninsula

Clinton: Koreas security situation ‘precarious’
BEIJING – U.S. Secretary of State Hillary Rodham Clinton said Monday that North Korea’s sinking of a South Korean warship has created a “highly precarious” security situation in the region and that the Obama administration is working to prevent an escalation of tension that could lead to conflict.
Speaking to …. Read the original article  : Clinton says NKorea has created a ‘highly precarious’ security situation on Korean peninsula.

Water will be major issue in coming years: PM

NEW DELHI – Distribution of water is likely to become a major issue, Prime Minister Manmohan Singh said Monday.

“I do agree that water is an emerging and going to become a major issue in the years to come,” Singh told journalists here.
About the accusation of the Tamil Nadu chief minister that the central government …. Source article  : Water will be major issue in coming years: PM.

World’s most expensive stamp auctioned

LONDON – The only known misprint of an 1855 three shilling stamp retained its title of being the world’s most expensive stamp when it was auctioned in Geneva.

The stamp, called the Swedish ‘Treskilling Yellow’, was bought by a group of buyers who wanted their identities and the winning bid be kept confidential, said auctioneer David …. Source article on Gaea Times at  : World’s most expensive stamp auctioned.

Asian stock markets mostly rise, led by China, after Wall Street’s advance

Asian stock markets follow Wall Street advance
SINGAPORE – Asian stock markets were mostly higher Monday, led by China, as investors took heart from a late rally on Wall Street. European shares were mixed.
As trading got started in Europe, Britain’s FTSE 100 fell 0.3 percent, Germany’s DAX index lost 0.4 percent amid …. Source article  : Asian stock markets mostly rise, led by China, after Wall Street’s advance.

India targets 10 percent near-term growth, 5 percent inflation: PM

NEW DELHI – Putting inclusive growth and taming price rise on top of United Progressive Alliance’s (UPA) agenda, Prime Minister Manmohan Singh Monday set a medium-term target of 10 percent annual economic expansion for India with moderate inflation.

“The agenda for our second term seeks to strengthen a pro-people policies and programmes initiated by our government …. Original source  : India targets 10 percent near-term growth, 5 percent inflation: PM.

India has a medium-term growth target of 10 percent: Manmohan Singh

NEW DELHI – Putting inclusive economic growth on top of United Progressive Alliance’s (UPA) agenda, Prime Minister Manmohan Singh Monday said his government has set an “achievable” medium-term target of 10 percent expansion per annum.

“The agenda for our second term seeks to strengthen a pro-people policies and programmes initiated by our government since 2004,” the … Read more »»».

Sensex up 228 points in morning trade

MUMBAI – A benchmark index for Indian equities started the week in the green, rising 228 points during morning trade.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) Monday opened at 16,494.61 points, and about 90 minutes later was ruling at 16,674.27 points, 228.66 points or 1.39 percent up from its previous close … Read the original article on Gaea Times at : Sensex up 228 points in morning trade.

South Korea announces trade restrictions on North Korea

SEOUL – South Korea warned Monday that it was ready to use military force in case of further “provocations” and announced far-reaching trade restrictions after finding that North Korea sunk one of its warships in March.

“From now on, the Republic of Korea will not tolerate any provocative act by the North and will maintain the …. Original article on Gaea Times at  : South Korea announces trade restrictions on North Korea.

After 6 seasons, ‘Lost’ finale leaves viewers with long-sought answers, but mysteries remain

‘Lost’ addresses years of questions in finale

NEW YORK – The premiere of “Lost” ended memorably with Charlie’s plaintive question to his fellow island castaways: “Guys, where ARE we?”
Six seasons and some 120 episodes later, many viewers might be wondering the same thing as the much-awaited “Lost” finale brought the series to a rapturous close Sunday … Read : After 6 seasons, ‘Lost’ finale leaves viewers with long-sought answers, but mysteries remain.

Andaman Islands to get better healthcare, flight connectivity

NEW DELHI – Acting on the recommendations of a parliamentary panel that criticised the government for its “indifference” to the healthcare needs of people of the Andaman and Nicobar Islands, the union home ministry has asked the health ministry to examine if a super speciality hospital can be set up in the Bay of Bengal [..] Read the original article: here.

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