Pakistan’s public debt jumped $12 bn in 2009-10

ISLAMABAD – Pakistan’s public debt ballooned by a staggering Rs.1 trillion ($12 billion) in fiscal 2009-10 that ends June 30 due to the rupee depreciating against the dollar as well as loans obtained from the International Monetary Fund, the World Bank and other foreign donors, a media report Tuesday said.

“The public debt in the first …. Original source  : Pakistan’s public debt jumped $12 bn in 2009-10.

Calif. lawmakers who led last year’s budget negotiations receive JFK Profile in Courage award

4 Calif. lawmakers receive JFK Courage award

SACRAMENTO, Calif. – Four California lawmakers who stood up to their parties during last year’s state budget crisis have been awarded the annual John F. Kennedy Profile in Courage Award.
The award was presented Monday to two Democrats, Senate President Pro Tem Darrell Steinberg and former Assembly Speaker Karen Bass, …. Original source  : Calif. lawmakers who led last year’s budget negotiations receive JFK Profile in Courage award.

Retired Colombian police officer accuses Uribe’s brother of leading 1990s death squad

Ex-cop claims Uribe’s brother led death squad

BOGOTA, Colombia – A retired police major said Monday that Colombian President Alvaro Uribe’s younger brother commanded a right-wing death squad in the early 1990s from the family’s cattle ranch. He estimated the militia killed at least 50 people.
The former policeman said Santiago Uribe also claimed his older brother, …. Source article  : Retired Colombian police officer accuses Uribe’s brother of leading 1990s death squad.

Obama administration asks judge to dismiss Virginia lawsuit challenging health reform law

Feds ask Va. health reform lawsuit be dismissed

RICHMOND, Va. – President Barack Obama’s administration on Monday asked a federal judge in Virginia to dismiss the state’s lawsuit alleging Congress overstepped its constitutional bounds with the new health care reform law.
Health and Human Services Secretary Kathleen Sebelius argued in a motion filed hours before a midnight …. Original article on Gaea Times at  : Obama administration asks judge to dismiss Virginia lawsuit challenging health reform law.

NYC seeks developer to build new home for National Jazz Museum in Harlem

NYC seeks developer for jazz museum in Harlem

NEW YORK – New York City is seeking a developer to build a new home for the National Jazz Museum in Harlem at a city-owned lot across the street from the Apollo Theater.
The 10,000-square-foot site also will house the ImageNation Sol Cinema, an art house movie theater.
The city’s … Read more »»».

Lobbyists look for exceptions in bill as House and Senate blend banking bills

Bills passed, lobbyists still look for loopholes
WASHINGTON – Auto dealers and insurance companies sought help from the Senate on Monday to ease the reach of financial regulations, part of a last lobbying thrust as the House and Senate assemble legislation for President Barack Obama’s signature.
Car dealerships were looking for the Senate to instruct … Read more >>.

Construction crews dig into the White House North Lawn as major utility upgrade under way

White House North Lawn becomes a construction zone

WASHINGTON – People walking by the front lawn of the White House can expect to see some mixture of construction crews, rigs and chain-link fencing for the next two years.
The executive mansion has launched the first major upgrade to its utility systems in more than 40 years.
The project … Read the original article on Gaea Times at : Construction crews dig into the White House North Lawn as major utility upgrade under way.

Justice Dept warns health insurance industry on mergers that stifle competition

Govt warns health insurance industry on mergers
WASHINGTON – In a blunt warning to the health insurance industry, the Obama administration said Monday it won’t hesitate to block mergers that threaten to stifle competition.
Justice Department antitrust chief Christine Varney told a lawyers’ conference that vigorous enforcement of anti-monopoly laws is vital to the success …. Source article  : Justice Dept warns health insurance industry on mergers that stifle competition.

US Cellular promotes human resources chief to executive vice president

US Cellular promotes human resources chief

CHICAGO – Wireless provider United States Cellular Corp. said Monday it has promoted Jeffrey J. Childs to executive vice president and chief human resources officer.
Childs previously served as senior vice president and chief human resources officer. He joined the company in 2004.
… Original article on : US Cellular promotes human resources chief to executive vice president.

Congress to vote on $11B tax increase on oil companies to help pay to clean up spills

Oil tax increase would help pay to clean up spills

WASHINGTON – Congress is getting ready to quadruple – to 32 cents a barrel – a tax on oil used to help finance cleanups. The increase would raise nearly $11 billion over the next decade.
The tax is levied on oil produced in the U.S. or imported …. Source article on Gaea Times at  : Congress to vote on $11B tax increase on oil companies to help pay to clean up spills.

CAPITAL CULTURE: Who made the list? Jewish community wonders who’ll make White House reception

CAPITAL CULTURE: WH party will fete Jewish culture

NEW YORK – In politics, as elsewhere, it’s a sport that’s almost as popular as people-watching: Guest-list watching.
And this week, it’s the Jewish community in Washington and beyond that’s buzzing over who’ll be on the list when Barack and Michelle Obama host the first-ever White House reception marking …. Original article on Gaea Times at  : CAPITAL CULTURE: Who made the list? Jewish community wonders who’ll make White House reception.

Pakistan’s GDP to grow 4.5 percent in 2010-11: Report

KARACHI – Pakistan’s economy is set to grow at 4.5 percent in fiscal 2010-11 beginning July 1 against the 4.1 percent during the current fiscal, a media report said Tuesday.

Agriculture growth in the next fiscal is targeted at 3.8 percent, manufacturing growth at 5.6 percent and service sector growth at 4.7 percent, The News reported … Original source on Gaea Times at : Pakistan’s GDP to grow 4.5 percent in 2010-11: Report.

A look at previous stock market corrections, comebacks

A look at stock market corrections, comebacks

The stock market has now undergone its 18th “correction” – a decline of 10 percent to 19.9 percent – since 1946.
Looking at earlier corrections may provide a gauge of how long this one could last. Previous corrections have posted declines averaging 14 percent and typically lasted about four months. …. Original source  : A look at previous stock market corrections, comebacks.

Tony Blair joins Indian-born billionaire’s US firm

LONDON – Former British prime minister Tony Blair, who has landed a job as adviser to Indian-born billionaire Vinod Khosla’s US-based venture capital firm, says he shares a “clear vision” with the tycoon, “one of the earliest leaders in cleantech investment”.

Blair is to lend his expertise and “global relationships” to the California-based Khosla Ventures, which … Read : Tony Blair joins Indian-born billionaire’s US firm.

EXIM India to open office in Ethiopia next month

ETHIOPIA – In a bid to support Indian companies’ growing investments in East Africa, the Export and Import (EXIM) Bank of India will open an office in Ethiopia next month, officials said.

Ethiopia’s Minister of Finance and Development Sufian Ahmed and EXIM bank officials are expected to sign the agreement Tuesday, which will further boost ties … Read the original article on Gaea Times at : EXIM India to open office in Ethiopia next month.

Sensex down 1.48 percent in early trade

MUMBAI – A benchmark index for Indian equities Tuesday opened in the red and was ruling 1.48 percent lower than its previous close, about 15 minutes into trade.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,444.57 points, was ruling at 16,226 points, 243.55 points or 1.48 percent down from …. Original source  : Sensex down 1.48 percent in early trade.

NFL owners to pick site of 2014 Super Bowl; using new OT rule in regular season also on agenda

NFL meeting’s agenda: 2014 Super Bowl, new OT rule

IRVING, Texas – Ready for an outdoor Super Bowl in cold, possibly snowy weather? Thinking that new overtime rule adopted for playoff games should be used in the regular season, too?
NFL owners will discuss those things and more on Tuesday during meetings in the Dallas area.
The owners … Read more »».

Treasury rates mixed at weekly auction with three-month bills up and six-month bills falling

Treasury rates mixed at weekly auction
WASHINGTON – Interest rates on short-term Treasury bills were mixed in Monday’s auction, with three-month bills rising slightly while while six-month bills fell to the lowest level since early March.

The Treasury Department auctioned $27 billion in three-month bills at a discount rate of 0.165 percent, up from 0.160 percent last … Read more : Treasury rates mixed at weekly auction with three-month bills up and six-month bills falling.

Democratic lawmakers counter Schwarzenegger budget cuts by seeking $5 billion in tax increases

Calif. Democrats propose nearly $5B in new taxes

SACRAMENTO, Calif. – Democrats in the state Senate on Monday countered Gov. Arnold Schwarzenegger’s proposed budget cuts with a plan to raise taxes by nearly $5 billion, largely by extending temporary taxes and delaying corporate tax breaks for two years.
During a Senate subcommittee hearing, Democrats said they want …. Source  : Democratic lawmakers counter Schwarzenegger budget cuts by seeking $5 billion in tax increases.

Brown Out: Cavaliers fire coach Mike Brown; team begins search with eye on keeping LeBron

Cavaliers fire Mike Brown after 5 seasons
CLEVELAND – Of the many reasons the Cleveland Cavaliers had for firing coach Mike Brown after five seasons without an NBA title, one mattered most.

They can’t lose LeBron James.
Less than two weeks after their stunning, second-round loss to Boston in the playoffs, the Cavaliers fired Brown on Monday, an … Read more >>.