World shares lower amid China manufacturing slowdown, Europe debt jitters

World markets fall amid China, Europe jitters
BANGKOK – World stocks fell Tuesday amid news China’s manufacturing slowed in May and as investors fretted Europe’s shaky government finances could undermine the global economic recovery.
Wall Street appeared to be in store for further losses as investors returned to a theme that has troubled markets for … Read this article on Gaea Times at : World shares lower amid China manufacturing slowdown, Europe debt jitters.

Mail order service that offers human, animal body parts

LONDON – What do you want – a sliver of human head, a piece of smokers’ lungs or a slice of human hand? All that and much more are now available through a mail order service set up in Germany.

The service has been started by controversial German anatomist Gunther von Hagens, who is the inventor …. Source article  : Mail order service that offers human, animal body parts.

Oil falls to near $72 in Asia as stock markets, euro drop

Oil falls to near $72 as stocks, euro fall

SINGAPORE – Oil prices tumbled to near $72 a barrel Tuesday in Asia as weakness in global stocks and the euro dragged on appetite for crude.
Benchmark crude for July delivery was down $1.51 at $72.46 a barrel at late afternoon Singapore time in electronic trading on the …. Source article  : Oil falls to near $72 in Asia as stock markets, euro drop.

Zuma visit: India, South Africa to re-launch CEOs forum

NEW DELHI – India and South Africa will give a fresh impetus to their growing business ties, re-launching the CEOs forum Thursday in the presence of South African president Jacob Zuma.

The CEOs forum will be re-launched with the signing of the terms of reference by the two chairs of the forum, the commerce ministry … Original article on : Zuma visit: India, South Africa to re-launch CEOs forum.

Ryanair back in profit for full year; 14 pct traffic growth yields 2 pct hike in revenue

Ryanair back in profit for full year
DUBLIN – Budget airline Ryanair said Tuesday that it earned a full-year profit of euro305.3 million ($375.7 million), reversing a loss a year earlier when it took a massive write-off from its failed attempt to take over rival carrier Aer Lingus.

Europe’s biggest budget airline said Tuesday that passenger numbers …. Source article on Gaea Times at  : Ryanair back in profit for full year; 14 pct traffic growth yields 2 pct hike in revenue.

EU says it sees antitrust worries with Unilever’s bid for Sara Lee personal care unit

EU probes Unilever takeover of Sara Lee unit

BRUSSELS – European Union regulators said Tuesday they will closely investigate Unilever’s euro1.28 billion bid for Sara Lee Corp’s personal care business because they think the deal could give the new company too much power in some markets.
This delays the deadline for EU regulatory approval of the deal …. Source article  : EU says it sees antitrust worries with Unilever’s bid for Sara Lee personal care unit.

Sensex plummets 169 points

MUMBAI – A benchmark index for Indian equities Tuesday extended its losses in afternoon trade and was ruling 169 points lower than its previous close.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,942.82 points, was ruling at 16,774.65 points, 169.98 points or 1 percent down from its previous close …. Original article on Gaea Times at  : Sensex plummets 169 points.

India’s exports up 36.2 percent in April

NEW DELHI – India’s exports rose 36.2 percent to $16.9 billion in April for the sixth straight month after 13 consecutive months of decline, official data released here Tuesday showed.

The exports were $12.4 billion in April a year ago.
The exports were higher due to increased demand for gems and jewellery, textiles, petroleum … Original source on Gaea Times at : India’s exports up 36.2 percent in April.

Toss it or fix it? Americans may just give health care overhaul law a chance to work

On health care law, Americans may give it a chance
WASHINGTON – Toss it or fix it? Anxious backers of President Barack Obama’s health care overhaul law are starting to see a flicker of hope.
While polls show Americans remain sharply divided over the Democrats’ landmark legislation, they aren’t clamoring for its repeal.
Instead, the … Original article on : Toss it or fix it? Americans may just give health care overhaul law a chance to work.

AIG says won’t accept lower Prudential offer for Asian insurance business AIA

AIG won’t accept lower Prudential offer for AIA

LONDON – U.S. insurer AIG said Tuesday it won’t accept lower offer for its Asian insurance business from Prudential, which proposed a $5 billion cut to calm its rebellious shareholders.
London Stock Exchange-listed Prudential PLC initially agreed to pay $35.5 billion for AIA, the Asian insurance business of American … Read more »»».

Maruti sales top 100,000 a month for first time

NEW DELHI – Passenger car major Maruti Suzuki Tuesday reported a 27.9 percent jump in sales for May at 102,175 units compared to 79,872 vehicles it sold in the year-ago period.

This is the first time the car maker has ever sold over 100,000 units in a month, its previous highest monthly sale figure being …. Original source  : Maruti sales top 100,000 a month for first time.

Asian shares lower amid China manufacturing slowdown, Europe debt jitters

Asian markets fall amid China, Europe jitters
BANGKOK – Asian stocks fell Tuesday amid news China’s manufacturing slowed in May and as investors fretted Europe’s shaky government finances could undermine the global economic recovery.
With no fresh cues from Wall Street, which was closed for a holiday Monday, investors in the region returned to a …. Read the original article  : Asian shares lower amid China manufacturing slowdown, Europe debt jitters.

Deadline extended in contract negotiations between Alcoa, United Steelworkers

Deadline extended in Alcoa contract negotiations

NEW YORK – Aluminum giant Alcoa Inc. and its largest union have extended their deadline to negotiate a new contract covering thousands of employees.
The Pittsburgh-based company and the United Steelworkers Union are negotiating over compensation for new workers, health care benefits and work flexibility.
Negotiations began in mid-April. The current contract …. Read the original article  : here.

Record-breaking growth by Canadian economy

TORONTO – Posting the highest growth rate in more than a decade in annualised terms, Canada’s economy grew 6.1 percent in the first quarter of the current fiscal year.

With the highest growth among G8 countries, the Canadian economy has now almost reached levels seen before the global meltdown hit it in 2008.
In … Read more »»».

Oil hovers below $73 in Asia as traders mull impact on Europe crisis on global crude demand

Oil hovers below $73 as traders eye Europe economy

SINGAPORE – Oil prices hovered below $74 a barrel Tuesday in Asia, a calm start to June after the Europe debt crisis fueled wild fluctuations in crude last month.
Benchmark crude for July delivery was down 6 cents at $73.90 a barrel at midday Singapore time in electronic [..] Read the original article: here.

Sensex slips into red in morning trade

MUMBAI – A benchmark index for Indian equities Tuesday fell during morning trade and was ruling 0.5 percent lower than its previous close.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,942.82 points, was ruling at 16,849.41 points, 95.22 points or 0.56 percent down from its previous close at 16,944.63 …. Source article on Gaea Times at  : Sensex slips into red in morning trade.

Asian shares lower amid absence of fresh cues after US holiday

Asian shares lower after US holiday
TOKYO – Asian stocks fell Tuesday in the absence of fresh cues following a market holiday in the U.S.
Japan’s Nikkei 225 stock average fell 82.22 points, or 0.8 percent, to 9,686.48 and Australia’s S&P/ASX 200 dropped 0.7 percent to 4,401.10.
In Seoul, the Kospi lost 0.6 percent to 1,630.41 …. Original article  : Asian shares lower amid absence of fresh cues after US holiday.

India becoming magnet for Canadian companies, says survey

VANCOUVER – Despite China remaining the economic powerhouse of Asia, more and more Canadian companies are now eyeing the mounting investment opportunities in India, says a survey by the Asia Pacific Foundation here.

The Asian Investment Intentions Survey, released by the foundation here Monday, has found upsurge in interest among Canadian companies to invest in India. …. Original article  : India becoming magnet for Canadian companies, says survey.

Money Market Operations as on May 31, 2010

… Original article on : Money Market Operations as on May 31, 2010.

Asian shares lower in early trade after US market holiday

Asian shares lower in early trade
TOKYO – Asian stocks were lower in early trading Tuesday in the absence of fresh cues following a market holiday in the U.S.

Japan’s Nikkei 225 stock average fell 89.24 points, or 0.9 percent, to 9,679.46. Australia’s S&P/ASX 200 fell 0.8 percent to 4,395.5.
In Seoul, Kospi lost 0.6 percent to 1,630.86, …. Source  : Gaea News Network.

World stocks lower after Wall Street tumble as European debt worries undermine confidence,

World stocks lower amid Europe, US jitters
BANGKOK – World stocks were mostly down Wednesday as Europe’s debt woes continued to undermine confidence and after a fall on Wall Street connected to the massive oil spill in the Gulf of Mexico.
Oil fell to nearly $72 per barrel, while the dollar gained against the yen …. Source article on Gaea Times at  : World stocks lower after Wall Street tumble as European debt worries undermine confidence,.

Zuma’s maiden visit seen lifting India-South Africa ties

NEW DELHI – Trade and economic ties between India and South Africa, two of the largest emerging economies in the world, is set to get a fresh push with the visit of President Jacob Zuma here with the largest-ever business delegation of 100 members.

The re-launch of the India-South Africa Chief Executives’ Forum and interactions with … Read this article on Gaea Times at : Zuma’s maiden visit seen lifting India-South Africa ties.

Sikorsky planning more JVs with Indian firms

NEW DELHI – Global military and commercial helicopter major Sikorsky Aircraft Corp is likely to tie up with more Indian companies in the next few months to produce components locally, a company official said Wednesday.

Keen to set a wider footprint in India, the US-based company is also planning to initiate discussions with state-run firms to … Read more >>.

Kieon forges strategic partnership with Sitefinity

BANGALORE – Kieon, the digital media solutions provider addressing the communication needs of the advertising and new media sectors, announced that it has established a partnership with Telerik to supply and support the Sitefinity Content Management System.

“We were happy to …. Source  : Gaea News Network.

G-20 finance chiefs, central bankers to meet in South Korea amid European financial turmoil

European chill as G20 finance heads meet in SKorea

SEOUL, South Korea – Europe’s debt woes are set to dominate talks as finance mandarins from the newly powerful G-20 group of rich and developing nations meet this week to push ahead with reforms of the global economy.
The continent’s sovereign debt crisis has seemed like an echo …. Read the original article  : G-20 finance chiefs, central bankers to meet in South Korea amid European financial turmoil.

Wage rise at Foxconn after string of suicides

BEIJING/TAIPEI – Taiwan electronics company Foxconn Technology said Wednesday it planned to raise wages for its Chinese workers by 30 percent after a spate of suicides at its plant in southern China.

A company spokesman in Taipei said the wage increase from 900 yuan ($132) to 1,200 yuan was effective immediately. The raise was higher than … Read more : Wage rise at Foxconn after string of suicides.

Age of oil and gas is not dead yet, says UAE minister

Dubai, June 2 (IANS/WAM) “The age of oil and gas is not dead”, says an United Arab Emirates (UAE) cabinet minister, citing the Oil and Petroleum Exporting Countries (OPEC) prediction for growing energy demand.

“In the world of energy, there is one certainty, namely that the age of oil and gas
is not dead! Indeed, it … Read : Age of oil and gas is not dead yet, says UAE minister.

A year later, Obama to assess progress of economy’s ‘new foundation’ in Pittsburgh speech

Obama to deliver status-check speech on economy
WASHINGTON – President Barack Obama says getting Americans back to work is his top priority, a message the White House has tried to underscore with weekly economy-focused stops outside Washington.
His latest trip is Wednesday, when he is making a quick visit to Pittsburgh to deliver …. Original article  : A year later, Obama to assess progress of economy’s ‘new foundation’ in Pittsburgh speech.

Corn syrup producers acknowledge opponents are souring US market for common sweetener

Corn syrup producers deal with sour US sales

CHAMPAIGN, Ill. – Fans of natural foods have tried for years to push the ubiquitous sweetener high fructose corn syrup off Americans’ dinner tables and out of their restaurants and grocery stores.
It seems to be working.
U.S. use of the sweetener found in most soft drinks, cereals and a … Read this article on Gaea Times at : Corn syrup producers acknowledge opponents are souring US market for common sweetener.

Tobacco loophole in Obama’s child health law costs US $250M as companies avoid huge tax hike

Tobacco loophole in child health law costs $250M
WASHINGTON – Public health officials say a tobacco tax loophole in President Barack Obama’s children’s health insurance program is costing the U.S. Treasury more than $250 million a year.
The loophole allows companies to avoid huge tax increases on rolling tobacco by labeling it as pipe tobacco. … Read more : Tobacco loophole in Obama’s child health law costs US $250M as companies avoid huge tax hike.

Gold prices hit record high, deter buyers

MUMBAI – Bullion prices in India touched a record high of 398.42 dollars for ten grams on Tuesday and closed at 398.11 dollars.

The skyrocketing rates of gold have severely constrained the budget of customers during the ongoing wedding season.

Gold futures on the …. Source article  : Gold prices hit record high, deter buyers.

Ashok Leyland-Nissan joint venture to roll out light trucks by 2011

CHENNAI – Chennai-based Ashok Leyland, India’s leading commercial vehicle maker owned by the house of Hindujas has entering into a collaboration with Japan auto major Nissan Motor Company to roll out three light commercial vehicles (LCVs) by mid-2011.

The top officials of the companies …. Source article on Gaea Times at  : Ashok Leyland-Nissan joint venture to roll out light trucks by 2011.

Asian shares lower following Japanese leader’s decision to quit, tumble on Wall Street

Asian shares lower on cues from Japan, US
BANGKOK – Asian stocks were mostly lower Wednesday after a fall on Wall Street connected to the massive oil spill in the Gulf of Mexico and amid news that Japanese Prime Minister Yukio Hatoyama will resign.
It was the second day of losses for the region’s markets, … Read more : Asian shares lower following Japanese leader’s decision to quit, tumble on Wall Street.

Decomposed food discovered at Venezuelan port spoils President Chavez’s day

Chavez: Rotten food at state-run port stinks

CARACAS, Venezuela – President Hugo Chavez urged prosecutors on Tuesday to bring charges against those responsible for the putrefaction of roughly 20,000 metric tons of food inside a seaport under the administration of the federal government.
“Debacles like this cannot be forgiven,” Chavez said during a televised speech. “Justice must …. Original article on Gaea Times at  : Decomposed food discovered at Venezuelan port spoils President Chavez’s day.

Sensex up 61 points in early trade

MUMBAI – A benchmark index for Indian equities Wednesday was trading with a 61-point gain, about an hour into trade.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,574.79 points, was ruling at 16,633.47 points, 61.44 points or 0.37 percent up from its previous close at 16,572.03 points.
At …. Source article  : Sensex up 61 points in early trade.

Oil falls to near $72 in Asia as investor optimism wanes about stocks, commodities

Oil near $72 as economy concerns drag on optimism

SINGAPORE – Oil prices slipped to near $72 a barrel Wednesday in Asia as flagging investor optimism about the global economy drags down stocks and commodities.
Benchmark crude for July delivery was down 30 cents at $72.28 a barrel at late afternoon Singapore time in electronic trading on … Read more : Oil falls to near $72 in Asia as investor optimism wanes about stocks, commodities.

Warren Buffett, Moody’s CEO to testify before panel probing financial crisis

Buffett to testify before financial crisis panel

NEW YORK – Billionaire investor Warren Buffett and the CEO of credit rating agency Moody’s Corp. are scheduled to face questions Wednesday from a bipartisan panel probing the roots the financial crisis.
The congressionally chartered Financial Crisis Inquiry Commission subpoenaed Buffett to appear at the New York hearing on the …. Source  : Warren Buffett, Moody’s CEO to testify before panel probing financial crisis.

Honda says factory in China back to work after strike that idled vehicle production

Honda says China factory back to work after strike

BEIJING – Honda Motor Co. said a key parts factory in China resumed full operation Wednesday following a two-week strike over wages that forced Honda to halt production at four assembly plants.
The strike highlighted tensions between workers and foreign companies that look to China as a source …. Source  : Gaea News Network.

Money Market Operations as on June 1, 2010

… Read the original article on Gaea Times at : Money Market Operations as on June 1, 2010.

Asian shares mixed after Japan prime minister resigns, Wall Street falls on oil investigation

Asian shares mixed on Japan, US cues
SINGAPORE – Asian stocks were mixed Wednesday after a fall on Wall Street and amid news Japanese Prime Minister Yukio Hatoyama is resigning after just eight months as the nation’s leader.
It was the second day of losses for the region’s markets. A negative cue came from Wall … Read this article on Gaea Times at : Asian shares mixed after Japan prime minister resigns, Wall Street falls on oil investigation.

Boosted supply of food staples pushes prices down: UN

ROME – Increasing supplies of major food staples such as cereals have led to a “sharp decline” in prices during the first half of the year, but the cost of food remains some 69 percent higher than in 2002-04, a United Nations report said Thursday.

In addition, the high prices of non-cereal products have still kept …. Source  : Gaea News Network.

Tata Nano set to drive into Taiwan

TAIPEI – Tata Nano, the world’s cheapest car made by India’s Tata Motors, is set to drive in to Taiwan, a manufacturing hub of iPods and green technologies, later this year.

Theodore Huang, chairman of Taiwan’s TECO group, is upbeat about the prospects of the Tata Nano in the Taiwan market, but says it … Read more »».

Reliance Communications surges further on Indian bourses

MUMBAI – Reliance Communications, a part of the Anil Ambani group, saw its scrip surge further Wednesday after the company said it was, indeed, evaluating various offers from global telecom firms for acquiring strategic stake in the company.

The company’s scrip was ruling at 164.10, up 6.14 percent, around 2 p.m., data with the Bombay Stock … Read more : Reliance Communications surges further on Indian bourses.

World share markets up strongly after gains in the US with Japan’s Nikkei up 3.2 percent

World markets up strongly after gains in the US

BANGKOK – World stock markets jumped Thursday after gains on Wall Street triggered by strong housing figures gave investors enough confidence to snap up riskier assets like shares following a monthlong slide.
Oil prices rose above $74 a barrel, while the dollar strengthened against the yen but slid … Original article on : World share markets up strongly after gains in the US with Japan’s Nikkei up 3.2 percent.

Sensex up 1.6 percent on global cues

MUMBAI – A benchmark index for Indian equities, which shot up soon after opening bell on steady global cues, was holding on to its gains in afternoon trade Thursday, ruling 1.63 percent higher than its previous close.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,786.28 points, was ruling at … Original source on Gaea Times at : Sensex up 1.6 percent on global cues.

Dissatisfied Pakistani team returns after water talks with India

LAHORE – Pakistan’s Indus Water Commission team has returned from New Delhi dissatisfied with the information provided by the Indian side about the construction of new power projects on three rivers in Jammu and Kashmir that flow into this country.

Pakistan’s Indus Water Commissioner Syed Jamaat Ali Shah told reporters in Lahore Wednesday that his Indian …. Source article on Gaea Times at  : Dissatisfied Pakistani team returns after water talks with India.

Global Investors Meet begins in Bangalore

BANGALORE – The Global Investors Meet (GIM), expected to bring in Rs.5 trillion (Rs.5 lakh crore) to Karnataka in the next four-five years, began here Thursday with the state rolling out a red carpet to global firms and India Inc.

A galaxy of big ticket investors led by ArcelorMittal founder Lakshmi N. Mittal is attending the …. Read the original article  : Global Investors Meet begins in Bangalore.

G-20 finance officials begin talks on global economy in shadow of European turmoil

G-20 finance officials begin global economy talks

BUSAN, South Korea – Finance officials from leading advanced and emerging countries began talks Thursday aimed at hammering out reforms to the global economic system to prevent debilitating crises such as the one that dragged the world to the verge of a depression in 2008.
The Group of 20 brings … Original article on : G-20 finance officials begin talks on global economy in shadow of European turmoil.

Oil rises above $74 as US crude supply drop suggests demand is growing

Oil rises above $74 as US crude supplies drop

SINGAPORE – Oil prices rose above $74 a barrel Thursday in Asia after a report showed U.S. crude inventories fell more than expected, suggesting consumer demand is growing.
Benchmark crude for July delivery was up $1.39 at $74.25 a barrel at late afternoon Singapore time in electronic trading … Original source on Gaea Times at : Oil rises above $74 as US crude supply drop suggests demand is growing.

Power point budget presentation in Bangladesh

DHAKA – Bangladesh Finance Minister A.M.A. Muhith will present the annual budget through a power point presentation in parliament June 10, cutting short the traditional long speech.

This is the first time when a finance minister will use modern technology to unveil the budgetary proposals in the house.
He will only deliver a brief speech … Read the original article on Gaea Times at : Power point budget presentation in Bangladesh.

Food inflation climbs to 16.55 percent

NEW DELHI – Despite the government’s best efforts to talk it down, India’s annual food inflation shot up to 16.55 percent for the week ended May 22, owing to high prices of pulses, milk and fruits, official data released Thursday showed.

The food inflation was 16.23 percent during the previous week.
Data on the wholesale price …. Read the original article  : Food inflation climbs to 16.55 percent.

Search engine `Simply Hired’ launches first personalized job search experience

Mumbai,June 3 (ANI-Business Wire India): Simply Hired, the largest job search engine, today launched the first personalized job search experience by integrating with Facebook.

Job seekers can now utilize their Facebook profile and friends on SimplyHired.co.in to access customized job content to land a job.

Using this new capability, users who log in with Facebook … Original source on Gaea Times at : Search engine `Simply Hired’ launches first personalized job search experience.

GOP race for Calif. governor tightens as wealthy candidates tangle over immigration, economy

Calif. GOP gov race tightens as attacks intensify

SACRAMENTO, Calif. – Meg Whitman’s shot at the Republican gubernatorial nomination looked as easy as an eBay bid: Plunk down nearly $81 million and wait for the clock to run out.
Yet in the final days before Tuesday’s California primary, the former chief executive of the online auction company …. Source  : Gaea News Network.

At $1.2bn, G8/G20 summits cost too much: Canadian leaders

TORONTO – With Canadian taxpayers paying through their nose to host the G8 and G20 summits this month, many political leaders, including former prime minister Paul Martin, have joined in protests against the billion-plus dollar cost of the gatherings.

At $1.2 billion, the two summits, spanning three days, will be the costliest 72 hours in Canadian … Original source on Gaea Times at : At $1.2bn, G8/G20 summits cost too much: Canadian leaders.

High population not a burden, says Hasina

DHAKA – Bangladesh’s 156 million population is “not a burden” and can be turned into skilled manpower, says Prime Minister Sheikh Hasina.

She informed the parliament that her government was “not afraid” of the high population growth of the country and underscored the need for “turning the huge population into skilled manpower”, The Daily Star …. Read the original article  : High population not a burden, says Hasina.

IDBI opens branch in Dubai

Dubai (UAE),June 3 (ANI-Business Wire India): IDBI Bank one of India’s leading banks, majority owned by Government of India, has received a license from the Dubai Financial Services Authority (DFSA) to provide a full range of corporate banking services including financial advisory services and … Read more : IDBI opens branch in Dubai.

Oil rises to near $74 as US crude supply drop suggests demand is growing

Oil rises to near $74 as US crude supplies drop

SINGAPORE – Oil prices rose to near $74 a barrel Thursday in Asia after a report showed U.S. crude inventories fell more than expected, suggesting consumer demand is growing.
Benchmark crude for July delivery was up 79 cents at $73.65 a barrel at midday Singapore time in …. Source article on Gaea Times at  : Oil rises to near $74 as US crude supply drop suggests demand is growing.

New retail data: Consumers cut back spending in May, underscoring how tentative recovery is

Retail data: consumers cut back spending in May

NEW YORK – Americans pulled back on their spending in May after a tepid April, underscoring how fragile the consumer spending recovery remains, new data released Thursday show.
Cool weather and a quirk in the calendar – a late Memorial Day weekend that hurt May’s business but should boost …. Original article  : New retail data: Consumers cut back spending in May, underscoring how tentative recovery is.

India-US strategic dialogue to set new milestones: Krishna

WASHINGTON – India and the US will hold their first strategic dialogue here Thursday with External Affairs Minister S.M. Krishna expecting a very positive outcome from the talks he leads with Secretary of State Hillary Clinton.

“There are very positive vibrations,” he told IANS after Wednesday’s foreign policy dialogue between Indian Foreign Secretary Nirupama Rao and … Original article on : India-US strategic dialogue to set new milestones: Krishna.

Money Market Operations as on June 2, 2010

…. Source  : Money Market Operations as on June 2, 2010.

What makes olive oil extra virgin? With federal standards, it’s no longer a slippery subject

Feds get picky over what makes oil ‘extra virgin’

CARMEL VALLEY, Calif. – Extra virgin, light, with lemon, unfiltered, cold-pressed: the variety of olive oil on most supermarket shelves is dazzling. But what does it all mean?
These terms might be common currency among foodies and the farmer’s market crowd, but they have never been enforceable, or …. Source article on Gaea Times at  : What makes olive oil extra virgin? With federal standards, it’s no longer a slippery subject.

Thai PM to attend economic meet in Vietnam to restore international confidence after protests

Thai leader goes abroad to salvage country’s image

BANGKOK – Thailand’s prime minister Friday planned his first overseas trip since last month’s bloody protests in Bangkok, hoping to salvage the country’s hammered tourism industry and blighted image.
Prime Minister Abhisit Vejjajiva’s primary task will be to restore confidence among investors and tourists when he attends the World … Read : Thai PM to attend economic meet in Vietnam to restore international confidence after protests.

Japan’s outspoken new prime minister, Naoto Kan, must win back voters’ trust by July election

Naoto Kan elected Japan’s prime minister
TOKYO – Japan’s parliament installed Naoto Kan as the new prime minister Friday, handing the outspoken populist the job of rallying his party and reclaiming its mandate for change ahead of elections next month.
Kan, a 63-year-old veteran with a reputation for confronting Japan’s powerful bureaucrats, succeeds Yukio Hatoyama, … Read more >>.

Asian stocks mixed as markets brace for crucial reading on US economy; Europe higher

Asia stocks mixed before jobs report; Europe gains
BANGKOK – Asian stocks were mixed Friday as markets braced for U.S. jobs figures that will give a crucial reading on whether the recovery in the world’s No. 1 economy is broadening. European shares rose.
The lackluster showing in Asia came after big gains the day before … Read : Asian stocks mixed as markets brace for crucial reading on US economy; Europe higher.

Sensex up 60 points in choppy trade

MUMBAI – A benchmark index for Indian equities Friday crawled up in choppy trade amid mixed cues from other global markets.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,036.55 points, was ruling at 17,082.6 points, 60.27 points or 0.35 percent up from its previous close at 17,022.33 points. …. Source  : Gaea News Network.

Pakistan’s forex reserves cross $16 bn

KARACHI – Pakistan’s foreign exchange reserves have crossed $16 billion for the first time in three years, but the country’s foreign debt stands at a staggering $54 billion.

Central bank spokesman Syed Waseemuddin told Geo News Friday that as of May 21, Pakistan’s foreign exchange reserves stood at $16.129 billion, largely because the US deposited $280.80 … Read more : Pakistan’s forex reserves cross $16 bn.

Pronger living up to huge expectations in leading Flyers to Stanley Cup final

Big deal: Pronger trade delivering for Flyers

PHILADELPHIA – Chris Pronger brought a lively personality and some leadership to a Flyers’ locker room that needed an infusion of both.
He also led them to the Stanley Cup final.
Suddenly, dealing two first-round picks to acquire one of the top defensemen in NHL history doesn’t seem so steep.
Pronger has … Read more : Pronger living up to huge expectations in leading Flyers to Stanley Cup final.

Access to markets in India at a price, says official

NEW DELHI – Countries demanding greater access to Indian markets will have to pay for it if India agrees to give access said, India’s chief negotiator at the WTO and an Additional Secretary in the Commerce Ministry, D.K. Mittal.

Speaking at … Read more »»».

RBI Staff Studies : “Trends in Select Micro and Small Scale Production Items during Phases of Industrial Slowdown”

The economic strain encountered by the Indian industrial sector during downturns in business cycles is captured by the monthly index of industrial production. However, the index fails to document the degree and extent of the hardships faced by certain sections of the industry, particularly the unorganized small scale sector … Read more : RBI Staff Studies : “Trends in Select Micro and Small Scale Production Items during Phases of Industrial Slowdown”.

Euro static against dollar, below $1.22 in European trading

Euro stuck below $1.22
BERLIN – The euro is little changed against the dollar ahead of a closely watched U.S. jobs report, trading not far above four-year lows.

The currency bought $1.2184 in early Friday European trading, near its level of $1.2182 in New York late Thursday.
The euro has dropped on worries about Europe’s prospects and spending … Read more : Euro static against dollar, below $1.22 in European trading.

Oil prices hover above $75 a barrel in Asia on hopes of continued economic recovery

Oil prices hover near $75 amid rising demand signs

KUALA LUMPUR, Malaysia – Oil prices were steady Friday in Asia after recent gains, holding above $74 a barrel as signs of rising demand in the U.S. fueled hopes of continued economic recovery.
Benchmark crude for July delivery was up 3 cents at $74.64 a barrel at late …. Original article  : Oil prices hover above $75 a barrel in Asia on hopes of continued economic recovery.

Thousands headed to Himachal as mercury dips

SHIMLA – Nearly 40,000 tourists are expected to make a beeline for the hills of Himachal Pradesh the coming weekend as the state is likely to see more rains and cooler weather.

“The temperatures will considerably come down … with chances of more rain in the hills and snow in the higher reaches,” Manmohan Singh, director …. Source article  : Thousands headed to Himachal as mercury dips.

Low-cost airline Easyjet unveils world-first plans to fit ash detectors on planes

Easyjet unveils plans to fit ash detectors

LONDON – Low-cost airline Easyjet PLC has unveiled world-first plans to fit its planes with radar to detect volcanic ash.
Easyjet said Friday that the devices – designed to be placed on the tail fin and detect ash within 100 miles (160 kilometers)- could prevent a repeat of the shutdown …. Read the original article  : here.

Maoists keep GMR power project under siege in Nepal

KATHMANDU – Four months after Maoists obstructed work on a hydropower project in northwest Nepal, the venture with high Indian stake continues to lie paralysed with the Nepal government failing to provide security.

The 250 MW Upper Marsyangdi project spanning two districts – Lamjung in the west and Manang near the Tibetan border – has been …. Source  : Maoists keep GMR power project under siege in Nepal.

Taiwan’s Foxconn suffers another employee death, but denies it was work related

Foxconn: latest employee death not work related

TAIPEI, Taiwan – Taiwan’s Foxconn Technology Group, which has been shaken by a spate of worker suicides in China this year, said Friday another employee had died but denied it was work-related.
The maker of iPhones, iPads and other electronic gadgets for global corporations including Apple Inc. said the 28-year-old … Read : Taiwan’s Foxconn suffers another employee death, but denies it was work related.

McDonald’s recalls 12 million Shrek-themed drinking glasses containing cadmium in paint job

McDonald’s pulls 12M cadmium-tainted Shrek glasses

LOS ANGELES – Cadmium has been discovered in the painted design on “Shrek”-themed drinking glasses being sold nationwide at McDonald’s, forcing the burger giant to recall 12 million of the cheap U.S.-made collectibles while dramatically expanding contamination concerns about the toxic metal beyond imported children’s jewelry.
The U.S. Consumer Product Safety …. Read the original article  : here.

Manali-Leh highway likely to reopen Saturday

MANALI – The 475-km Manali-Leh highway, which remains closed for vehicular traffic for five-six months in the winter owing to heavy snowfall, is likely to re-open for traffic Saturday.

“The highway will most likely be reopened Saturday evening,” said S.K. Doon of the General Reserve Engineering Force, a wing of the Border Roads Organisation.
“The snow …. Original source  : Manali-Leh highway likely to reopen Saturday.

Asian stocks mostly lower as markets brace for crucial reading on US economic recovery

Asian markets lower ahead of US jobs report
BANGKOK – Asian stocks were mostly lower Friday as markets braced for U.S. jobs figures that will give a crucial reading on whether the recovery in the world’s No. 1 economy is broadening.
The modest decline in the region’s markets came after big gains the day before … Read more »»».

Obama postpones trip to Indonesia, Australia for 2nd time as oil spill crisis rages

Obama shelves trip to Indonesia, Australia
WASHINGTON – Grappling with the worst oil spill in the nation’s history, President Barack Obama has abruptly scrapped a trip to Indonesia and Australia for the second time this year.
The president informed the leaders of both countries of the news in phone … Read : Obama postpones trip to Indonesia, Australia for 2nd time as oil spill crisis rages.

World Bank meet opens, calls for G-20 agenda to add development to ensure sustainable growth

World Bank meet: G20 agenda should add development

BUSAN, South Korea – The Group of 20 leading economies faced demands Friday to do more for the developing world as their finance chiefs gathered to work on an agenda aimed at fending off future crises.
The talks in this southern port city by U.S. Treasury Secretary Timothy Geithner …. Original article on Gaea Times at  : World Bank meet opens, calls for G-20 agenda to add development to ensure sustainable growth.

Free Mahindra service camps on World Environment Day

MUMBAI – Celebrating World Environment Day, automobile major Mahindra and Mahindra organised free service camps across the country for its vehicles Saturday, a company official said.

As part of the company’s green initiative, around 5,000 vehicles were given free pollution checks at 108 Mahindra dealerships across 76 cities.
“Customers visiting our dealerships … Read more >>>.

G-20 agrees on need to push ahead on financial reforms, curb deficits to safeguard recovery

G-20 finance chiefs agree on need to curb deficits
BUSAN, South Korea – Finance ministers and central bankers from the world’s leading economies agreed Saturday on the need to cooperate in fending off financial market turmoil and keeping the world economic recovery on track.
In a statement that will serve as an outline … Read : G-20 agrees on need to push ahead on financial reforms, curb deficits to safeguard recovery.

World Bank to fund marketing of Bihar’s Shahi litchis

PATNA – The World Bank will provide funds for marketing of Bihar’s famous Shahi (royal) litchis in the national and international markets, official said Saturday.

“The World Bank has proposed that litchis be sold at railway stations, airport lounges, malls in metropolitan cities across India as well as in overseas market,” said Ram Prabodh Thakur, an … Read the original article on Gaea Times at : World Bank to fund marketing of Bihar’s Shahi litchis.

G-20 agrees on need to cooperate in handling market turmoil, safeguard global recovery

G-20 agrees to advance reforms, rebalance growth

BUSAN, South Korea – Finance chiefs of the world’s leading economies have endorsed rescue policies for Europe and the need to rebalance growth by encouraging domestic demand and greater trade by developing countries.
A statement issued Saturday by finance ministers and central bankers of the Group of 20 bridged differences …. Source  : Gaea News Network.

China securities regulators to review plans for what could be world’s largest IPO

China to review plans for Agricultural Bank’s IPO

BEIJING – The state-owned Agricultural Bank of China plans to sell a 15 percent stake in what could become the world’s largest initial public offering, China’s securities regulators said.
The China Securities Regulatory Commission posted the bank’s application online Friday and said it will review it Wednesday.
Agricultural Bank is … Read more : China securities regulators to review plans for what could be world’s largest IPO.

As nation debates the recession, Ill. Senate candidates talk about who’s least trustworthy

Ill. Senate race: all insults, all the time
CHICAGO – The candidates in one of the nation’s most closely watched Senate races aren’t saying much about health care, the Gulf oil spill or even the economy.
Instead, they’re discussing who’s the least trustworthy.
Republican U.S. Rep. Mark Kirk says Democrat Alexi Giannoulias is a … Original source on Gaea Times at : As nation debates the recession, Ill. Senate candidates talk about who’s least trustworthy.

G-20 finance chiefs work to keep growth on track, push ahead on financial reforms

G-20 finance chiefs mull deficits, banking rules
BUSAN, South Korea – Finance ministers and central bankers from the world’s leading economies worked Saturday to bridge differences on far-reaching financial reforms amid fears that new financial turmoil could derail the global recovery.
Yoon Jeung-hyun, South Korea’s minister of strategy and finance, said that concerns …. Source  : Gaea News Network.

Bank of Rajasthan employees protest against merger with ICICI

MUMBAI – Over 4200 employees of Bank of Rajasthan began a two-day nationwide strike here on Friday to protest the bank’s management proposal to merge with the ICICI Bank.

The two-day strike would be followed by a three-day strike starting from June 17 to June 19.

Vishwas Utagi, Secretary of All India Bank Employees Association (AIBEA) demanded …. Original source  : Bank of Rajasthan employees protest against merger with ICICI.

South Korean president sees no possibility of war with North over ship sinking

SKorea’s Lee sees no possibility of war with North
SINGAPORE – South Korea’s leader on Saturday ruled out going to war with North Korea, hours after his government asked the United Nations to punish the communist nation over the sinking of a warship.
“There is absolutely no possibility of a full-scale war on the Korean …. Source  : Gaea News Network.

Power cable damaged, train services hit in Uttar Pradesh

LUCKNOW – The movement of several long distance trains were affected along the busy Delhi-Chennai route after an overhead power cable was damaged in Uttar Pradesh’s Jhansi district, an official said Saturday.

At least 10 trains, including the Chennai-New Delhi Rajdhani Express, came to a halt near the Khajraha railway station, where the power cable … Read the original article on Gaea Times at : Power cable damaged, train services hit in Uttar Pradesh.

Illegal money changing booms on India-Nepal border

RUPAIDIHA – There is an unprecedented rush for the Indian rupee in Nepal – possibly fuelled by talk of a devaluation of the Nepali currency – giving rise to unauthorised money-changers on this side of the border.

The exchange rate has remained unchanged for the last 17 years at Nepali Rs.160 for Indian Rs.100. But Nepalis …. Read the original article  : Illegal money changing booms on India-Nepal border.

Person familiar with negotiations: Hornets talking with Williams about coaching job

AP Source: Hornets negotiating with Williams

NEW ORLEANS – The New Orleans Hornets began contract talks with Monty Williams about their head coaching job on Friday, according to a person familiar with the negotiations.
Williams, an assistant with the Portland Trail Blazers, emerged as one of the Hornets’ top head coaching choices, along with Boston Celtics assistant … Read the original article on Gaea Times at : Person familiar with negotiations: Hornets talking with Williams about coaching job.

British Airways cabin crew to begin new strike Saturday

London, June 5 (IANS/RIA Novosti) Cabin crews of Britain’s largest air carrier, British Airways (BA), will go on another five-day strike Saturday.

Tensions between BA and the Unite trade union began in 2009, when the company said it would reduce cabin crew for long-haul flights from 15 to 14, making 1,000 full-time cabin crew staff redundant. …. Source article  : British Airways cabin crew to begin new strike Saturday.

Ice Edge, Glendale officials reach agreement on memorandum for Coyotes

Ice Edge, Glendale reach Coyotes agreement

PHOENIX – Ice Edge Holdings has exclusive rights, with some conditions, to negotiate a lease agreement for the Phoenix Coyotes with the city of Glendale under a memorandum of understanding to be presented to the city council next week.
The memorandum agreed to by Ice Edge and city officials is a …. Original source  : Ice Edge, Glendale officials reach agreement on memorandum for Coyotes.

Sun get balanced offense to hold off Liberty 75-68

Sun hold off Liberty 75-68
UNCASVILLE, Conn. – Tan White scored 18 points and the Connecticut Sun defeated the New York Liberty 75-68 on Friday night.

Kara Lawson had 13 points and Tina Charles had 13 points and 15 rebounds. Anete Jekabsone-Zogota scored 10.
Asjha Jones added two late free throws for Connecticut (4-2).
Jones missed the Sun’s first … Original article on : Sun get balanced offense to hold off Liberty 75-68.

Hershey workers approve labor deal that would cut up to 600 jobs from company’s Pa. hometown

Pa. Hershey chocolate workers approve labor deal

HERSHEY, Pa. – Unionized workers at two Hershey Co. hometown chocolate plants on Friday overwhelming approved a labor deal that could eliminate hundreds of jobs and leave just administrative offices in the original factory built by founder Milton Hershey.
Union members approved the deal because of the candy maker’s promise … Read more >>>.

AP-US-TierOne-Recapitalization

AP-US-TierOne-Recapitalization
EDITORS:

Disregard BC-US–TierOne-Recapitalization because of outdated material. Please use BC-US–Bank Closures instead.
The AP
… Original article on : AP-US-TierOne-Recapitalization.

Hershey workers vote on labor deal that would cut up to 600 jobs from company’s Pa. hometown

Pa. Hershey workers vote on proposed labor deal

HERSHEY, Pa. – A union that represents workers at the Hershey chocolate company’s hometown plants on Friday night expected to determine the outcome of a vote on a labor deal that could cut hundreds of jobs there.
Employees began voting Friday morning on a restructuring agreement that would expand …. Original source  : Hershey workers vote on labor deal that would cut up to 600 jobs from company’s Pa. hometown.

Regulators shut banks in Nebraska, Mississippi and Illinois; 81 bank failures so far in 2010

Regulators shut banks in Neb., Miss., Ill.

WASHINGTON – Regulators on Friday shut down a Nebraska bank that has struggled under the weight of soured loans and drawn scrutiny from federal authorities since early last year. Two small banks in Illinois and Mississippi were also shuttered, boosting the number of U.S. bank failures this year to …. Read the original article  : here.

Obama slams BP, says ‘way too early’ for optimism

WASHINGTON – US President Barack Obama said BP was making progress in capping the massive oil leak in the Gulf of Mexico, but slammed the British energy firm for delaying claims payments to local fisherman while it hands out billions to investors.

Obama Friday said BP had made “some progress” by placing a containment cap over … Read : Obama slams BP, says ‘way too early’ for optimism.

Malaysia tycoon pledges millions to charity to curb Muslim criticism of sports betting launch

Malaysia tycoon in betting spat makes charity vow

KUALA LUMPUR, Malaysia – A Malaysian billionaire embroiled in a controversy over launching a sports betting operation has pledged to donate his initial earnings to charity in a bid to deflect growing criticism that the plan will promote gambling in the Muslim-majority country.
Ascot Sports, a company linked to …. Original article  : Malaysia tycoon pledges millions to charity to curb Muslim criticism of sports betting launch.

Growers oppose natural rubber import duty cuts

NEW DELHI – Young farmers in northeast India are a concerned lot after the Delhi High Court asked the government to “consider carefully” the user industry’s demand to bring down import duty on natural rubber – a move that they feel can disturb peace.

“Bringing down the import duty will adversely affect us farmers. We …. Original article on Gaea Times at  : Growers oppose natural rubber import duty cuts.

Car sales see an all time high in India

CHENNAI – Car sales in India in April reached at an annual high of 39.5 percent, indicating consumer demand despite rising prices.

Buyers are usually subdued in April after bunched purchases at the close of the financial year in March to take advantage of tax breaks on depreciation.

Domestic car sales were 143,976 in April, up …. Original article on Gaea Times at  : Car sales see an all time high in India.

Canadian province invites Indian investors to acquire SMEs

CHENNAI – The Canadian province of Saskatchewan is inviting Indian entrepreneurs to take over small and medium enterprises (SMEs) which do not have succession plans.

The province also wants Indian students there to stay back and pursue businesses and professions.
“Nearly 40 percent of the SMEs do not have succession plans. In order have continuity …. Read the original article  : Canadian province invites Indian investors to acquire SMEs.

Greens up against Mayawati’s dream expressway

GHAZIABAD – Chief Minister Mayawati’s dream project of an eight-lane expressway from Greater Noida to Saharanpur along the Upper Ganges Canal in Uttar Pradesh has generated much controversy, with green activists saying it would result in the mass destruction of trees and, consequently, wildlife.

“The mass destruction of trees will create an ecological hazard. Rare wild … Read the original article on Gaea Times at : Greens up against Mayawati’s dream expressway.

Mark Cuban says he would back Weinstein bothers’ deal to buy back Miramax from Disney

Cuban says he’d back Weinstein deal for Miramax

LOS ANGELES – Billionaire investor Mark Cuban says he loved the idea of the Weinstein brothers participating in a bid for Miramax.
Cuban said on the sidelines of the Produced By Conference Saturday that he did not help block the Weinstein’s bid last month to take back the Miramax …. Original article  : Mark Cuban says he would back Weinstein bothers’ deal to buy back Miramax from Disney.

BP places ‘top cap’ over leak

WASHINGTON – Oil giant BP has succeeded in placing a containment cap over the ruptured well head that is gushing oil into the Gulf of Mexico, but was working to seal the cap and close valves before it could capture much of the oil.

“Progress is being made,” said Coast Guard Admiral Thad Allen, who is …. Original article on Gaea Times at  : BP places ‘top cap’ over leak.

Drosselmeyer takes Belmont in upset over Zito’s favorites

Drosselmeyer pulls upset in Belmont Stakes

NEW YORK – Drosselmeyer pulled off an upset in the Belmont Stakes, seizing the lead in the stretch and giving Hall of Fame trainer Bill Mott his first win in a Triple Crown race.
Sent off at odds of 13-1, Drosselmeyer defeated Fly Down by three-quarters of a length on a … Read more »».

Halter, Lincoln hunt for remaining votes as Arkansas Democratic Senate runoff nears

Halter, Lincoln trade jabs in Ark. as runoff nears
NEWPORT, Ark. – Arkansas Democratic Sen. Blanche Lincoln traded jabs with challenger Lt. Gov. Bill Halter as they campaigned days before a nationally watched runoff that will wrap up one of the most expensive and bitter political battles in state history.
The pair traveled throughout the …. Source  : Gaea News Network.

We’ll get through this together, Jimmy Buffett tells people of Florida Panhandle

Jimmy Buffett laments the fouling of his paradise

PENSACOLA BEACH, Fla. – Jimmy Buffett’s timing is a little off.
The “Margaritaville” singer is synonymous with the white-sand beaches along the Gulf Coast that are now being fouled by leaked oil. He’s planning to open a hotel in Pensacola Beach, Fla., in a week.
He took a walk Saturday …. Source article on Gaea Times at  : We’ll get through this together, Jimmy Buffett tells people of Florida Panhandle.

Israeli commandos seize latest Gaza-bound aid ship, defiant Israel enforces blockade

Israel remains defiant, seizes Gaza-bound aid ship

JERUSALEM – A defiant Israel enforced its 3-year-old blockade of Hamas-ruled Gaza on Saturday, with naval commandos swiftly commandeering a Gaza-bound aid vessel carrying an Irish Nobel laureate and other activists and forcing it to head to an Israeli port instead.
The bloodless takeover stood in marked contrast to a …. Source  : Gaea News Network.

Deadline for financial bids for Hyderabad Metro extended again

HYDERABAD – The Andhra Pradesh government Saturday extended for the second time the last date for submitting financial bids for the Rs.12,132 crore Hyderabad Metro Rail (HMR) project to June 14.

This is the third time in as many months that HMR project authorities have extended the deadline as the shortlisted bidders did not come forward …. Original source  : Deadline for financial bids for Hyderabad Metro extended again.

Nearly half the unemployed have been out of work at least 6 months and find odds against them

Growing ranks of long-term jobless face tough odds

WASHINGTON – If you lose your job these days, it’s worth scrambling to find a new one – fast.
After six months of unemployment, your chances of landing work dwindle.
The proportion of people jobless for six months or more has accelerated in the past year and now makes up … Read more >>.

Va. socialite, winemaker selling $9M country estate collection of antiques she no longer needs

Va. socialite and winemaker selling country estate

CHARLOTTESVILLE, Va. – Socialite and vintner Patricia Kluge says she no longer needs her inscribed Picasso platter, centuries-old Qing Dynasty clock, 19th-century Grecian harp and nearly all the other treasures in her English-style country mansion.
Collectors and curiosity seekers will have plenty to peruse if they buy a 620-page catalog …. Original article on Gaea Times at  : Va. socialite, winemaker selling $9M country estate collection of antiques she no longer needs.

The first big win against skin cancer: Drug boosts survival in major study of deadly melanoma

Drug boosts survival in major skin cancer study

CHICAGO – Researchers have scored the first big win against melanoma, the deadliest form of skin cancer. An experimental drug significantly improved survival in a major study of people with very advanced disease.
The results, reported Saturday at a cancer conference, left doctors elated.
“We have not had any therapy [..] Read the original article: here.

Pfizer drug shows big promise in early testing for lung cancer patients with a certain gene

Pfizer lung cancer drug promising in early tests

CHICAGO – It’s way too soon to declare success, but an experimental drug for lung cancer patients with a certain gene showed extraordinary promise in early testing, doctors reported at a cancer conference on Saturday.
More than 90 percent of the 82 patients in a study saw their tumors …. Source  : Gaea News Network.

Pakistan raises defence budget to $5.2 bn

ISLAMABAD – Pakistan increased its annual spending on defence to $5.2 billion (Rs.442 billion) as the government presented its budget Saturday with an outlay of Rs.2.764 trillion for the 2010-11 fiscal starting July 1.

The allocation for defence is Rs.442 billion, which is higher by Rs.100 billion and Rs.64 billion respectively against the current year’s and …. Source  : Gaea News Network.

Restoration of Los Angeles International’s saucer-shaped Theme Building marks airport revival

Restored Theme Building marks LAX’s turnaround

LOS ANGELES – Believe it or not, LAX and its iconic spider-shaped terminal were once young and vibrant, a futuristic outpost at the edge of the Pacific in the glamorous Jet Age.
After a half-century and millions of travelers, Los Angeles International Airport is on the verge of reclaiming some of … Read the original article on Gaea Times at : Restoration of Los Angeles International’s saucer-shaped Theme Building marks airport revival.

4 months jail with hard labor for Zambia publisher in street birth photos case

Zambia publisher jailed for critical comment

LUSAKA, Zambia – Award-winning Zambian press freedom campaigner and newspaper publisher Fred M’membe begins a four month jail sentence for a case involving photographs of a woman giving birth on a street during a health services strike, his newspaper says.
Amos Mapulenga, managing editor of the daily Post newspaper, says M’membe [..] Read the original article: here.

Israeli prime minister firm on Gaza blockade, as pressure mounts to ease restrictions

Despite pressure, Israeli PM firm on Gaza blockade

JERUSALEM – Israel’s prime minister has signaled he is determined to enforce a naval blockade of the Hamas-ruled Gaza Strip, as international pressure mounts for the restrictions to be eased or scrapped altogether.
Benjamin Netanyahu said after Saturday’s latest takeover of a Gaza-bound aid vessel by Israeli commandos that …. Source article on Gaea Times at  : Israeli prime minister firm on Gaza blockade, as pressure mounts to ease restrictions.

German Cabinet meets to complete major package of savings amid debt crisis

Germany to unveil cuts to welfare, jobs
BERLIN – Germany was close to finalizing Monday a major package of government savings, which would likely cut social welfare benefits, slash public sector jobs, and raise taxes to tackle the budget deficit.

With the debt crisis undermining the euro, Chancellor Angela Merkel’s government is determined to tackle Germany’s deficit …. Original article  : German Cabinet meets to complete major package of savings amid debt crisis.

Tamil Nadu to follow PPP model to develop ecotourism

CHENNAI – The Tamil Nadu government will adopt the public-private partnership (PPP) model, especially in the areas of infrastructure sharing and knowledge exchange, to promote ecotourism in the state.

Deputy Chief Minister M.K. Stalin Monday released a policy document on this at the state secretariat here.
“The main focus of the policy is to educate the … Read this article on Gaea Times at : Tamil Nadu to follow PPP model to develop ecotourism.

AP Top News at 4:35 a.m. EDT

AP Top News at 4:35 a.m. EDT
NJ men accused in Somali terror plot due in court
ELMWOOD PARK, N.J. – The young men’s intentions were sinister: to head to Somalia to seek terror training from al-Qaida-affiliated jihadists and unleash attacks against fellow Americans. But their preparations apparently were unsophisticated. They lifted weights, bought military-style pants and … Read more >>.

AP Top News at 4:22 a.m. EDT

AP Top News at 4:22 a.m. EDT
NJ men accused in Somali terror plot due in court
ELMWOOD PARK, N.J. – The young men’s intentions were sinister: to head to Somalia to seek terror training from al-Qaida-affiliated jihadists and unleash attacks against fellow Americans. But their preparations apparently were unsophisticated. They lifted weights, bought military-style pants and … Read this article on Gaea Times at : AP Top News at 4:22 a.m. EDT.

AP Top News at 4:20 a.m. EDT

AP Top News at 4:20 a.m. EDT
NJ men accused in Somali terror plot due in court
ELMWOOD PARK, N.J. – The young men’s intentions were sinister: to head to Somalia to seek terror training from al-Qaida-affiliated jihadists and unleash attacks against fellow Americans. But their preparations apparently were unsophisticated. They lifted weights, bought military-style pants and … Read the original article on Gaea Times at : AP Top News at 4:20 a.m. EDT.

World markets tumble on fears over US jobs report, Hungary’s debt troubles

World markets tumble on fears over Hungary

BANGKOK – World stock markets tumbled Monday, dragged down by weak U.S. employment figures and fresh fears that Europe’s debt crisis is spreading to Hungary.
Oil was also buffeted, falling to near $70 a barrel, while the dollar fell against the yen and gained versus the euro. Wall Street was …. Source article  : World markets tumble on fears over US jobs report, Hungary’s debt troubles.

AP Top News at 4:15 a.m. EDT

AP Top News at 4:15 a.m. EDT
NJ men accused in Somali terror plot due in court
ELMWOOD PARK, N.J. – The young men’s intentions were sinister: to head to Somalia to seek terror training from al-Qaida-affiliated jihadists and unleash attacks against fellow Americans. But their preparations apparently were unsophisticated. They lifted weights, bought military-style pants and …. Source  : Gaea News Network.

AP Top News at 4:10 a.m. EDT

AP Top News at 4:10 a.m. EDT
NJ men accused in Somali terror plot due in court
ELMWOOD PARK, N.J. – The young men’s intentions were sinister: to head to Somalia to seek terror training from al-Qaida-affiliated jihadists and unleash attacks against fellow Americans. But their preparations apparently were unsophisticated. They lifted weights, bought military-style pants and … Read : AP Top News at 4:10 a.m. EDT.

AP Top News at 4:08 a.m. EDT

AP Top News at 4:08 a.m. EDT
NJ men accused in Somali terror plot due in court
ELMWOOD PARK, N.J. – The young men’s intentions were sinister: to head to Somalia to seek terror training from al-Qaida-affiliated jihadists and unleash attacks against fellow Americans. But their preparations apparently were unsophisticated. They lifted weights, bought military-style pants and … Original article on : AP Top News at 4:08 a.m. EDT.

AP Top News at 4:05 a.m. EDT

AP Top News at 4:05 a.m. EDT
Long road to oil cleanup looms over Gulf Coast
GULF SHORES, Ala. – A wellhead cap at the bottom of the Gulf of Mexico is slowly pinching off a geyser of oil spewing from the earth, but there’s no containing much of the crude that’s already escaped, a reality becoming … Read this article on Gaea Times at : AP Top News at 4:05 a.m. EDT.

Nepal rules out changing exchange rate with India

KATHMANDU – Nepal’s central bank has ruled out changing the exchange rate of the national currency against the Indian rupee.

“This is to inform the public that since the exchange rate (with the Indian rupee) acts as the foundation on which economic stability rests, there is no situation to alter the rate or process,” Nepal … Read the original article on Gaea Times at : Nepal rules out changing exchange rate with India.

Lufthansa offers students a ‘Touch of Home’ in the air

New Delhi, June 7 (ANI-Business Wire India): German carrier Lufthansa is offering an ‘Indianised’ flight experience geared to give its passengers a touch of home away from home – be it on board entertainment or the in-flight menu.

In fact this experience starts right from the point of first contact at check-in, where passengers are …. Source  : Lufthansa offers students a ‘Touch of Home’ in the air.

Britain worried that BP oil spill may hit ties with US

LONDON – The British government is concerned that criticism towards energy company BP for its failure to curb the oil spill in the Gulf of Mexico may hamper the country’s relationship with the US.

The scale and ferocity of the US attacks are said to have disturbed David Cameron, The Telegraph reported quoting government sources. …. Original source  : Britain worried that BP oil spill may hit ties with US.

AP Top News at 3:50 a.m. EDT

AP Top News at 3:50 a.m. EDT
Long road to oil cleanup looms over Gulf Coast
GULF SHORES, Ala. – A wellhead cap at the bottom of the Gulf of Mexico is slowly pinching off a geyser of oil spewing from the earth, but there’s no containing much of the crude that’s already escaped, a reality becoming …. Original article on Gaea Times at  : AP Top News at 3:50 a.m. EDT.

AP Top News at 3:40 a.m. EDT

AP Top News at 3:40 a.m. EDT
Long road to oil cleanup looms over Gulf Coast
GULF SHORES, Ala. – A wellhead cap at the bottom of the Gulf of Mexico is slowly pinching off a geyser of oil spewing from the earth, but there’s no containing much of the crude that’s already escaped, a reality becoming …. Source  : AP Top News at 3:40 a.m. EDT.

Primaries, general election spooks lawmakers on spending; budget, big price tags shelved

Election spooks lawmakers, curbs Congress spending
WASHINGTON – The 2010 elections have changed the direction of government only half way through the primary season, with voter anger and economic jitters causing lawmakers to balk at their most basic duties as well as key elements of President Barack Obama’s agenda.
After betting their political future on … Read more »»».

Berlin air show to display latest aerospace technology

BERLIN – The Berlin Air Show (ILA 2010) takes off Tuesday in this scenic German capital to demonstrate the advances made in the global aviation and aerospace fields on the ground and in the air.

As the world’s oldest and largest aviation show, the six-day trade fair (June 8-13) is being held in the aftermath of … Original source on Gaea Times at : Berlin air show to display latest aerospace technology.

AP Top News at 3:05 a.m. EDT

AP Top News at 3:05 a.m. EDT
Gulf oil crisis could stretch into the fall
NEW ORLEANS – A containment cap was capturing more and more of the crude pouring from a damaged oil well in the Gulf of Mexico, but that bit of hope was tempered Sunday by a sharp dose of pragmatism as the federal … Read : AP Top News at 3:05 a.m. EDT.

Restoring traditional farming methods to meet food security

NEW DELHI – Maharashtra’s Korku tribe stores grain with dried neem leaves, while the Konda Savara tribe of Andhra Pradesh has an irrigation system where water is diverted through pipes made of banana trunks. These are some examples of local wisdom sustaining agriculture, which will now be backed by a specialised UN agency.

The Food and … Read : Restoring traditional farming methods to meet food security.

AP Top News at 2:04 a.m. EDT

AP Top News at 2:04 a.m. EDT
Gulf oil crisis could stretch into the fall
NEW ORLEANS – A containment cap was capturing more and more of the crude pouring from a damaged oil well in the Gulf of Mexico, but that bit of hope was tempered Sunday by a sharp dose of pragmatism as the federal … Read more >>.

Indian ban pushes Bangladeshi spinners to Australian cotton

DHAKA – Spinners in Bangladesh are switching to expensive cotton from Australia due to “uncertainties” caused by India’s export restrictions, the New Age newspaper said Tuesday.

Although India last month eased the restrictions partially, the newspaper said the spinners, awaiting arrival of 150,000 tonnes of Indian cotton contracted before a April 21 ban, found the … Read more >>.

EU finance ministers thrash out economy reforms in an effort to curb debt crisis

EU thrashes out economy reforms
LUXEMBOURG – European Union countries on Tuesday thrashed out ways to toughen oversight of their finances to prevent a repeat of the debt crisis that is forcing many nations to make huge and painful budget cuts.

EU Economy Commissioner Olli Rehn told reporters he expected the 27-nation bloc would move “fast forward … Read this article on Gaea Times at : EU finance ministers thrash out economy reforms in an effort to curb debt crisis.

Cameron readies Britain for savage spending cuts

LONDON – British Prime Minister David Cameron has warned of severe spending cuts to check the rising national debt that now stands at 770 billion pounds.

In a keynote address on the economy Monday, Cameron has said if nothing was done about it, the debt would rise to 1.4 trillion pounds in five years, meaning a …. Source  : Cameron readies Britain for savage spending cuts.

World shares rise after Fed chief reassures markets of global recovery

World shares higher after Fed chief remarks

BANGKOK – World stock markets were mostly higher Tuesday after Federal Reserve Chairman Ben Bernanke indicated the U.S. economy was still on the mend and the European common currency stabilized after hitting a new four-year low against the dollar.
Oil was slightly up, to nearly $72 dollars a barrel. Wall …. Source article  : World shares rise after Fed chief reassures markets of global recovery.

Sensex slips as Europe market opens weak

MUMBAI – A benchmark index for Indian equities slipped 55 points down from a intra-day high of 16,895.73 points in afternoon trade Tuesday after European markets opened on a weak note.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,760.6 points, was ruling at 16,840.19 points, 59.12 points or 0.35 …. Source  : Sensex slips as Europe market opens weak.

Egencia releases 2010 corporate travel global benchmarking study

GURGAON – Egencia, an Expedia, Inc. company, today unveiled its 2010 Corporate Travel Global Benchmarking Study, evaluating the current business travel landscape and corresponding supply environment for air, hotel and car inventory.

Focusing on top domestic and international business destinations in North America, Europe and Asia-Pacific, Egencia analyzed industry trends, supplier research and capacity implications …. Source  : Egencia releases 2010 corporate travel global benchmarking study.

Iranian president says fuel-swap deal is an opportunity for US, its allies

Iran: fuel swap deal is one-time opportunity
ISTANBUL – Iranian President Mahmoud Ahmadinejad said Tuesday a nuclear swap deal brokered by Turkey and Brazil is a one-time opportunity that should not be missed.
Ahmadinejad, speaking to reporters on the sidelines of a security summit, also said new sanctions against his country would be a mistake … Read more »».

Calif. GOP voters consider wealthy businesswomen to challenge Democratic icons Brown, Boxer

Wealthy businesswomen energize Calif. GOP voters

LOS ANGELES – A Republican primary season marked by a blistering campaign spending spree and less-is-more approach to government comes to an end Tuesday with two wealthy businesswomen poised to make history for the GOP.
Former eBay chief executive Meg Whitman and former Hewlett-Packard CEO Carly Fiorina have become the front-runners …. Original source  : Calif. GOP voters consider wealthy businesswomen to challenge Democratic icons Brown, Boxer.

Lawmakers crack down on prepaid cell phones that abet criminal and terror suspects

Lawmakers crack down on prepaid cells, cite terror

NEW YORK – Two lawmakers say it’s time for prepaid cell phone users to identify themselves.
New York Democratic Sen. Chuck Schumer (SHOO’-mur) and Texas Republican Sen. John Cornyn (KOHR’-nihn) have introduced legislation requiring consumers to produce identification before buying such phones.
That’s rattled some civil liberties groups, who say … Read the original article on Gaea Times at : Lawmakers crack down on prepaid cell phones that abet criminal and terror suspects.

Macao mulls ban on smoking in casinos

MACAO – The government of Macao Special Administrative Region (SAR) has proposed a comprehensive tobacco ban in all local casinos in three years, as it was drafting an anti-tobacco bill, the Macao Post Daily reported Tuesday.

Under the new version of the bill, there would be no areas in the casinos where patrons were permitted [..] Read the original article: here.

German chancellor Merkel to unveil Berlin air show

BERLIN – German Chancellor Angela Merkal will unveil the Berlin air show (ILA 2010) in this historic unified capital Tuesday in the presence of Swiss President Doris Leuthard at Berlin-Schonefeld airport’s security zone.

Organised by the German Aerospace Industries Association (GAIA) and Messe Berlin GmbH, the largest biennial international aerospace event is being held in the … Read this article on Gaea Times at : German chancellor Merkel to unveil Berlin air show.

Volkswagen to sells two million cars a year in China

BEIJING – Volkswagen AG, Europe’s largest carmaker, said Tuesday it expected to be selling two million cars per year in China within the next two years, moving up an earlier prediction of 2018 to reach that goal.

Winfried Vahland, head of Volkswagen’s China operations, said in Beijing that the goal would now be reached “in one … Read this article on Gaea Times at : Volkswagen to sells two million cars a year in China.

Lineup of Japanese Prime Minister-elect Kan’s Cabinet

Lineup of Japan’s new Cabinet
The Cabinet lineup announced Tuesday by Japanese Prime Minister-elect Naoto Kan:

Chief Cabinet Secretary: Yoshito Sengoku
Foreign Minister: Katsuya Okada (retained)
Defense Minister: Toshimi Kitazawa (retained)
Finance Minister: Yoshihiko Noda
Economy, Trade and Industry Minister: Masayuki Naoshima (retained)
Agriculture, Forestry and Fisheries Minister: Masahiko Yamada
Justice Minister: Keiko Chiba (retained)
Education, Culture, Sports, Science and Technology Minister: Tatsuo Kawabata …. Source article on Gaea Times at  : Lineup of Japanese Prime Minister-elect Kan’s Cabinet.

Strike halts production at Hyundai’s India plants, labor unrest driving carmaker to Turkey

Strike halts Hyundai’s India production
MUMBAI, India – Striking workers forced Hyundai Motor to stop all production in India on Monday, the latest in a series of union battles that have pushed the nation’s No. 2 carmaker to move some production to a factory in Turkey.

This is the fourth strike since 2008 at Hyundai’s two adjacent …. Source article  : Strike halts production at Hyundai’s India plants, labor unrest driving carmaker to Turkey.

Toronto rated world’s most improved airport

TORONTO – Toronto’s Pearson International Airport has been rated the ‘Most Improved Airport’ in the world by the international aviation industry.

The International Air Transport Association (IATA) gave the ‘2010 IATA Eagle Award for Most Improved Airport’ to the Toronto airport at a ceremony in Berlin Monday.
The award is given each year to an airport … Read : Toronto rated world’s most improved airport.

Hong Kong protesters picket Apple supplier Foxconn’s annual meeting after spate of suicides

Hong Kong protesters picket Apple supplier meeting

HONG KONG – Protesters picketed Foxconn’s annual general meeting in Hong Kong on Tuesday, accusing both the Apple Inc. supplier and computer giant of poor corporate ethics after a recent spate of suicides at Foxconn factories in mainland China.
The 30 demonstrators held signs saying, “Workers are not machines. They …. Source article on Gaea Times at  : Hong Kong protesters picket Apple supplier Foxconn’s annual meeting after spate of suicides.

Sensex rises after weak start, up 89 points

MUMBAI – A benchmark index for Indian equities moved up into the green after a weak start Tuesday and was ruling 89 points higher than its previous close, about an hour into trade.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,760.6 points, was ruling at 16,870.5 points, 89.43 points … Read more : Sensex rises after weak start, up 89 points.

Seabuckthorn to green cold deserts in Himalayan states

PALAMPUR – The cold deserts of the Indian Himalayas where the survival of many flora species is minimal may soon see massive plantations of seabuckthorn – a medicinally rich plant – in a move that is expected to help check soil erosion and benefit farmers economically.

A long-term national policy aims to start seabuckthorn plantation …. Source  : Seabuckthorn to green cold deserts in Himalayan states.

Money Market Operations as on June 7, 2010

…. Read the original article  : Money Market Operations as on June 7, 2010.

Asian shares rise after Fed chief reassures markets of global recovery

Asian shares higher after Fed chief remarks

BANGKOK – Asian stock markets managed modest gains Tuesday after Federal Reserve Chairman Ben Bernanke indicated the U.S. economy was still on the mend and the European common currency stabilized after hitting a new four-year low against the dollar.
Oil was slightly up, to nearly $72 dollars a barrel. Japan’s …. Read the original article  : here.

Brown-Forman 4th-quarter net income falls, despite higher revenue, as expenses increase

Higher expenses hurt Brown-Forman in 4th quarter

LOUISVILLE, Ky. – Liquor company Brown-Forman Corp. said Wednesday that its fourth quarter net income fell 9 percent as higher expenses and continued sluggish sales at bars and restaurants watered down gains by its Jack Daniel’s Tennessee Whiskey.
Brown-Forman CEO Paul Varga called it a “challenging consumer and competitive environment” [..] Read the original article: here.

Sri Lanka assures India of political settlement, 7 pacts signed (Roundup)

NEW DELHI – Sri Lanka Wednesday assured India of a political settlement for minorities and quicker rehabilitation of the displaced Tamils as New Delhi announced a host of initiatives for reconstruction of war-hit provinces of the island country including building 50,000 houses, rail network and a thermal power plant.

The two sides signed seven pacts … Original article on : Sri Lanka assures India of political settlement, 7 pacts signed (Roundup).

Private Sector participation in Railways Freight Terminals

NEW DELHI – The Ministry of Railways has finalized policy on Private Freight Terminal (PFT) with the participation of the private sector.

The main objectives of this policy are to enable rapid development of network for freight …. Source  : Gaea News Network.

BWA auction completes 110 rounds, accruals at $6.89 billion

NEW DELHI – The Indian government’s provisional revenue from the sale of airwaves for broadband wireless access (BWA) services Wednesday reached Rs.31,038.33 crore ($6.89 billion) and the pan-India licence price touched Rs.12,257.3 crore ($2.72 billion).

Wednesday saw the conclusion of 110 rounds of the auction of airwaves for BWA services. This is a simultaneous online auction … Read the original article on Gaea Times at : BWA auction completes 110 rounds, accruals at $6.89 billion.

Government of India proposes to sell shares of 35 State-run companies

NEW DELHI – Minister of State for Heavy Industries and Public Enterprises Arun Yadav on Wednesday said the 35 State-run companies would sell shares in phases over the next five years.

“We have listed almost 35 companies, which will go for public stakes. Once we get …. Original article on Gaea Times at  : Government of India proposes to sell shares of 35 State-run companies.

Sri Lanka promises India quick political settlement, signs 7 pacts (Second Lead)

NEW DELHI – Sri Lanka Wednesday assured India of a political settlement for minorities and quick resettlement of the displaced Tamils. The two countries also signed seven accords as India announced initiatives for reconstruction of the war-hit provinces of the Island country, including building 50,000 houses, rail networks and a thermal power plant.

The two … Original source on Gaea Times at : Sri Lanka promises India quick political settlement, signs 7 pacts (Second Lead).

Dahej SEZ among top 25 global economic zones

GANDHINAGAR – The multi-product special economic zone at Dahej in Bharuch district of Gujarat has been rated as one of the 25 best economic zones in the world.

A global survey of 700-odd “free economic zones of the future” by Foreign Direct Investment, the bi-monthly magazine published by the Financial Times Group, London, has ranked Dahej …. Read the original article  : Dahej SEZ among top 25 global economic zones.

Abu Dhabi firm bags $600-mn power plant contract

Abu Dhabi, June 9 (IANS/WAM) An Abu Dhabi renewable energy company has bagged a $600-million contract to build a solar power plant here.

Spanish solar energy company Abengoa Solar and French oil major Total awarded the 100 megawatts power plant contract to Masdar. It will be built in Madinat Zayed on the outskirts of Abu Dhabi. …. Read the original article  : here.

Italian president honours UAE businessman

Abu Dhabi, June 9 (IANS/WAM) Italian President Giorgio Napolitano has honoured UAE businessman Obeid Saleh Al Nuaimi with the “Order of the Star of Italian Solidarity” for his contribution in strengthening trade ties between the two nations.

UAE Higher Education and Scientific Research Minister Sheikh Nahyan bin Mubarak Al Nahyan Tuesday attended a ceremony hosted by … Read more >>.

Hyundai Motor India workers call off strike

CHENNAI – The three-day strike at Hyundai Motor India Ltd’s plant near here was called off Wednesday following an agreement between the company management and the striking employees union.

The two parties signed a memorandum of understanding (MOU) in the presence of Tamil Nadu’s Labour Minister T.M. Anbarasan and officials from Commissionerate of Labour.
Normalcy is … Read : Hyundai Motor India workers call off strike.

Etihad Airways among best three airlines in world: Report

Abu Dhabi, June 9 (IANS/WAM) Etihad Airways has been ranked among the best three airlines in the world by a leading Swiss business magazine.

Tuesday’s ranking comes after a survey of frequent flyers and different airlines.
BILANZ also used recent surveys, such as Skytrax ratings, to confirm the airline’s overall ranking.
The ratings are … Read more »»».

Himachal to raise industrial task force

SHIMLA – The Himachal Pradesh government will raise a task force for effective maintenance of law and order in industrial areas, an official said here Wednesday.

“The cabinet today (Wednesday) decided to set up state industrial task force on the pattern of the Central Industrial Security Force,” a government spokesperson told IANS.
He said 1,024 educated …. Read the original article  : Himachal to raise industrial task force.

Buying luxury cars, bikes becomes costlier in Delhi

NEW DELHI – Buying a luxury car or a high-end motorcycle has become costlier in the capital following the Delhi government’s notification Wednesday for new road tax for vehicles, an official said.

Aimed at generating additional revenue for the cash-strapped Delhi government, the state cabinet May 24 decided to raise the road tax rates.
“The state …. Source  : Buying luxury cars, bikes becomes costlier in Delhi.

‘Trade relations playing pivotal role in ties with Germany’

Berlin, June 9 (IANS/WAM) A top UAE envoy has said economic relations are playing a pivotal role in the special ties with Germany.

UAE Ambassador to Germany Mohammed Ahmed Al Mahmoud said that the relations between the two countries are constantly growing. He said this speaking to WAM on the sidelines of the participation of the …. Read the original article  : here.

Israel firms look for opportunities in Gujarat

GANDHINAGAR – A business delegation from Israel is exploring opportunities for tie-ups with agro-business entrepreneurs in Gujarat, an official said Wednesday.

According to Gujarat Agro-industries Corporation Managing Director D. Thara, a 30-member delegation representing, among others, 17 companies of Israel is currently on a visit to the state to explore the possibility of business tie-ups in … Read : Israel firms look for opportunities in Gujarat.

Boeing to invest $100 mn for aircraft maintenance base

NAGPUR – The Maharashtra Airport Development Company Ltd (MADC) will lease 50 acres land in the special economic zone (SEZ) near Nagpur airport to Air India (AI) to establish an aircraft maintenance base that will be set up by Boeing Company with an investment of around $100 million, an official said.

The aircraft maintenance base will … Read : Boeing to invest $100 mn for aircraft maintenance base.

Punjab Congress demands adequate water for paddy farmers

CHANDIGARH – Punjab Pradesh Congress Committee (PPCC) Wednesday asked the Akali Dali-led government to arrange adequate water and power supply for paddy growers in the state.

“Earlier the wheat production declined in the state and cotton farmers have already suffered the set back due to shortage of water and power. Sweltering heat and dry canals have …. Original source  : Punjab Congress demands adequate water for paddy farmers.

Spurt in nano satellites to benefit Indian space agency

BERLIN – Increasing use of nano and pico satellites in near-earth orbits will benefit the Indian Space Research Organisation (ISRO), which has a competitive edge with its cost-effective polar satellite launch vehicle (PSLV), says a study.

The international market for nano and pico-satellites is set to witness about 40 percent in increase next five years, …. Read the original article  : Spurt in nano satellites to benefit Indian space agency.

Investment by FIIs/NRI/PIOs under PIS : Bank of Baroda

The Reserve Bank of India has today notified that the aggregate net purchases of equity share holdings in Bank of Baroda (www.rbi.org.in/scripts/BS_FiiUSer.aspx#BOB) by Foreign Institutional Investors (FIIs)/Non-Resident Indians (NRIs)/Persons of Indian Origin (PIOs) under Portfolio Investment Scheme (PIS) have reached the trigger limit of their paid up capital. …. Original article on Gaea Times at  : Investment by FIIs/NRI/PIOs under PIS : Bank of Baroda.

‘Third of India’s food industry unaware of safety standards’

NEW DELHI – Nearly a third of the players in India’s food industry are not aware about safety standards and related rules, as per a survey conducted by a leading industry lobby, with the majority of respondents calling for a re-alignment of laws to global levels.

“A majority of respondents (86 percent), though, feel that the …. Original article  : ‘Third of India’s food industry unaware of safety standards’.

Indian art market has consolidated since 2010: Neville Tuli

NEW DELHI – The Indian art market has witnessed a period of consolidation in 2010 and the coming months will see further strengthening, predicts Neville Tuli, founder-chairman of OSIAN’s Connoisseurs of Art that has just published a detailed report on the subject.

“In the coming months, buyers will witness a resurgence in demand for the … Original source on Gaea Times at : Indian art market has consolidated since 2010: Neville Tuli.

Arab league chief accuses Israel of ‘atrocity and assault’ in Mideast, backs Gaza ship probe

Arab league chief accuses Israel of atrocities

ISTANBUL – Arab league chief Amr Moussa accused Israel on Thursday of continued “atrocity and assault” in the Middle East in violation of human rights and international law.
Moussa, speaking at an economic forum between Turkey and Arab nations, said “Israel is the main reason for the black hole in … Read the original article on Gaea Times at : Arab league chief accuses Israel of ‘atrocity and assault’ in Mideast, backs Gaza ship probe.

Mamata Banerjee attends cabinet meeting after a month

NEW DELHI – Railway Minister Mamata Banerjee Thursday attended a cabinet meeting after a month’s gap as she had been away in Kolkata to campaign for her Trinamool Congress party for the civic polls in West Bengal.

“Mamataji attended today’s cabinet meeting and actively participated in the deliberations,” Information and Broadcasting Minister Ambika Soni told reporters …. Read the original article  : Mamata Banerjee attends cabinet meeting after a month.

As more strikes loom, British Airways CEO turns down 6-figure bonus for 2nd year

British Airways CEO turns down 6-figure bonus

LONDON – British Airways’ chief executive has turned down a six-figure bonus for the second year as the carrier struggles with losses and a series of strikes by cabin crew.
The airline said in its annual report published Thursday that Willie Walsh was eligible for bonus in the form of … Read more »»».

World markets mixed with good China trade data offset by BP woes due to oil spill

World markets mixed amid China trade data, BP woes

BANGKOK – World stock markets were mixed Thursday, with strong Chinese trade figures boosting confidence among some investors while others steered away from riskier assets amid fears that petroleum giant BP could end up in bankruptcy over the Gulf of Mexico oil spill.
Oil extended gains above $74 … Read more : World markets mixed with good China trade data offset by BP woes due to oil spill.

Sensex holds on to gains in trade choppy

MUMBAI – A benchmark index for Indian equities was holding on to its morning gains made on positive Asian cues, even though trade remained choppy Thursday afternoon.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,668.91 points, was ruling at 16,770.06 points, 112.17 points or 0.67 percent up from its …. Original article  : Sensex holds on to gains in trade choppy.

ECB seen leaving interest rate unchanged as loan program, weak euro in focus

ECB seen keeping rates on hold, eyes on bond plan

BERLIN – The European Central Bank is expected to leave its key interest rate at 1 percent on Thursday as its governing council holds its first monetary policy meeting since last month’s decision to buy government bonds to ease the debt crisis.
With markets still jittery – …. Original article  : ECB seen leaving interest rate unchanged as loan program, weak euro in focus.

BP shares fall sharply in London as US political pressure on Gulf spill grows

BP shares plunge on oil spill fallout fears
LONDON – Shares in BP plunged again in early trading in London – extending a sell-off in New York – as U.S. political pressure intensified on the British oil company to halt dividend payments and fork out greater compensation for the Gulf of Mexico oil spill.
The …. Source  : Gaea News Network.

Australian airline Qantas using Kerala IT firm’s solution

THIRUVANANTHAPURAM – Australia’s national carrier Qantas has implemented Indian IT company IBS Group’s web-based cargo management solution in its international air freight division, Qantas Freight, IBS said here Thursday.

The airline has thus migrated its global cargo sales, reservations and capacity management functions to the iCargo platform of IBS.
iCargo is designed to meet the …. Read the original article  : Australian airline Qantas using Kerala IT firm’s solution.

Honda car factories in China still stalled by strikes, though 1 parts supplier back to work

Strikes stall Honda car assembly plants in China

SHANGHAI – Production at two Honda Motor car assembly plants in China remained stalled Thursday due to a lack of parts because of labor disputes, though the company said a strike at one supplier factory was over.
Workers at Honda Lock (Guangdong) Co. walked off the job Wednesday and … Read more : Honda car factories in China still stalled by strikes, though 1 parts supplier back to work.

EADS to shift some Eurofighter development projects to India

BERLIN – European Aeronautic Defence and Space Company NV (EADS) would transfer some of the development projects of its advanced fourth generation Eurofighter Typhoon or other military aircraft to India soon, a top company official said Thursday.

“We will transfer some of our development projects, which we have in Europe for Eurofighter or other military aircraft …. Source article on Gaea Times at  : EADS to shift some Eurofighter development projects to India.

BP says unaware of any reason to justify US shares sell-off

BP says unaware of reason for US share sell-off

LONDON – BP PLC sought to reassure investors on Thursday after its shares took a dive in U.S. trading, saying it isn’t aware of any reason to justify the sell-off.
In a statement released before the London Stock Exchange opened for trading, the company underlined its strong financial …. Source  : Gaea News Network.

Food inflation climbs to 16.74 percent

NEW DELHI – India’s annual food inflation climbed to 16.74 percent for the week ended May 29 owing to high prices of pulses, milk and fruits, offering no respite to people from the persistently rising rates of essential items, official data released Thursday showed.

The food inflation was 16.55 percent during the previous week.
Data … Original source on Gaea Times at : Food inflation climbs to 16.74 percent.

Let economics drive our relations, Bangladesh envoy tells India

NEW DELHI – Bangladesh has urged India to open its doors wider to allow duty-free goods and reach a “meaningful” free trade agreement (FTA) to facilitate a “convergence (of interests)” that will make economy drive politics and bilateral relations.

“Politics has, unfortunately, driven our economic ties and has impacted overall relations. It is time to change …. Original source  : Let economics drive our relations, Bangladesh envoy tells India.

US and allies get toughest sanctions against Iran, but not the crippling penalties US wanted

US gets tough but not crippling Iran sanctions

UNITED NATIONS – The United States and its allies won approval for the toughest U.N. sanctions against Iran for refusing to negotiate on its suspect nuclear program – but they’re not the “crippling” penalties U.S. Secretary of State Hillary Clinton vowed to pursue a year ago if U.S. … Read more >>.

She is illiterate, but ‘masterin’ to farmers

LUCKNOW – She never went to school and is completely illiterate. But 48-year-old Dhaneswari Devi gives lessons – not in a school, but in the fields where she trains farmers in organic cultivation.

A resident of Awadhpur village in Uttar Pradesh’s Gorakhpur district, about 300 km from here, she not only makes organic manure but has … Original source on Gaea Times at : She is illiterate, but ‘masterin’ to farmers.

Asian stocks mostly up on Chinese trade surge despite oil giant BP troubles

Asian stocks mostly up on Chinese trade surge

BANGKOK – Asian stock markets mostly advanced Thursday as strong Chinese trade figures gave investors the confidence to wade back into riskier assets despite reports that oil giant BP could end up in bankruptcy because of the disastrous spill off the southern U.S. coast.
Oil extended gains above $74 …. Source  : Asian stocks mostly up on Chinese trade surge despite oil giant BP troubles.

Spending cuts to push unemployment to three million in Britain

LONDON – The British government’s spending cuts are projected to result in 500,000 public sector job cuts between now and 2015 and the unemployment level expected to touch the three million mark.

The employment group, Chartered Institute of Personnel and Development (CIPD), has warned in a report that there was little prospect of real wage growth …. Source article  : Spending cuts to push unemployment to three million in Britain.

China reports May export surge but European debt crisis likely to hurt trade recovery

China exports surge but Europe debt crisis looms

BEIJING – China’s exports surged by nearly 50 percent in May but analysts warned Europe’s debt crisis is likely to hurt the recovery in trade.
Exports rose 48.5 percent in May, while imports were up 48.3 percent, the Chinese customs agency said Thursday. The figures exceeded most analysts’ forecasts …. Original article on Gaea Times at  : China reports May export surge but European debt crisis likely to hurt trade recovery.

Mexico oil spill could have powered 1,800 ships for year

WASHINGTON – If all the oil from the Deepwater Horizon spill in the Gulf of Mexico had been used for fuel, it could have powered 38,000 cars, 3,400 trucks and 1,800 ships for a full year, says a new report.

It is based on an estimated spill rate of 19,000 barrels of oil per day, … Read more »».

Obama to promote small business initiatives in meeting with business owners

Obama to meet with owners of small businesses
WASHINGTON – President Barack Obama meets with small business owners in the Oval Office to highlight his small business jobs initiatives.
He’ll also make a statement Friday in the Rose Garden. The administration has made a series of proposals aimed at helping small businesses grow and hire … Original article on : Obama to promote small business initiatives in meeting with business owners.

BP shares bounce back in London, a day after hitting a 13-year low

BP shares bounce back in London trading
LONDON – Shares in BP PLC opened higher in London on Friday, a day after a sharp drop linked to the company’s difficulties with an oil leak in the Gulf of Mexico was reversed in New York.
BP shares were up 4 percent at 380.2 pence in … Read more >>.

India’s industrial production surges 17.6 percent

NEW DELHI – India’s industrial output rose for the seventh straight month in April at 17.6 percent from a year earlier due to higher spending on infrastructure and improved exports, official data released Friday showed.

This is the sharpest rise since December 2009, when the index for industrial production (IIP) grew at 17.7 percent.
Manufacturing, the …. Read the original article  : here.

BWA Auction Profitable For Government

NEW DELHI, INDIA (GaeaTimes.com)- Today the auction for government BWA services came to an end. The Government of India reaped an amount of $8.56 billion or Rs. 38,543.31 crore from this auction, as it has been reported. The auction lasted for a little more than two weeks and 11 companies took part in it. … Read more >>.

Oil hovers near $75, as trade data from China and US jobs raise hopes for stronger demand

Oil hovers near $75 amid improving economic news

BANGKOK – Oil prices hovered near $75 a barrel Friday in Asia after a big jump the day before as China’s booming trade and lower U.S. jobless claims lifted stock markets and confidence in the global economic recovery.
Benchmark crude for July delivery was down 54 cents at $74.94 … Read more >>.

World stock markets rise after China’s exports surge, boosting optimism about global recovery

World stocks gain on China exports, US jobs data

BANGKOK – World stock markets rose Friday, buoyed by optimism that the global economy could weather Europe’s debt crisis after China’s exports surged and U.S. jobless claims fell.
Even a dramatic warning from Japan’s new prime minister that his country could face a financial mess like the one …. Source  : World stock markets rise after China’s exports surge, boosting optimism about global recovery.

Sensex slips from intra-day highs

MUMBAI – After gaining more than 200 points during the day on the back of robust industrial output data, a benchmark index for Indian equities slipped from its intra-day highs and was ruling 123 points higher than its previous close in afternoon trade.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which … Read the original article on Gaea Times at : Sensex slips from intra-day highs.

Business success could be in your DNA

NEW YORK – Wondering whether to study entrepreneurship in grad school? Well, you might want to have your DNA tested before that, says Economics Prof. Scott Shane.

He told The Wall Street Journal that 40 percent entrepreneurial predispostion could be innate.

Shane, who teaches at Case Western University, said that certain personality traits are widely shared by …. Original article on Gaea Times at  : Business success could be in your DNA.

Calif. farmer sells rice directly to consumers, giving identity to usually nameless item

Calif. farmer creating identity for his rice

OLIVEHURST, Calif. – A California farmer is trying to change rice from an anonymous, bulk product into something with an identity.
Farmer Michael Bosworth is selling his family’s organic rice directly to restaurants and retailers, skipping the middle man and connecting consumers to the source of their food.
He’s among the …. Original source  : Calif. farmer sells rice directly to consumers, giving identity to usually nameless item.

USC gets 2-year bowl ban, loses scholarships, must vacate wins in NCAA ruling

USC hit hard by NCAA sanctions
LOS ANGELES – Southern California was no ordinary football program over the past decade, winning seven straight Pac-10 titles and two national championships while annually fielding a gleaming array of NFL prospects.

That’s just one reason the Trojans received no ordinary penalties when the NCAA finally announced on Thursday the results …. Source  : USC gets 2-year bowl ban, loses scholarships, must vacate wins in NCAA ruling.

India’s April industrial production surged surprise 17.6 pct, on investment-led rebound

India April industrial production surges 17.6 pct

MUMBAI, India – India’s industrial output surged a surprise 17.6 percent in April over last year, as strong investment activity returns Asia’s third-largest economy to pre-crisis levels of growth.
The growth in industrial production announced Friday was much stronger than expected. A Thomson Reuters survey of analysts had forecast an …. Original article  : India’s April industrial production surged surprise 17.6 pct, on investment-led rebound.

EU Parliament willing to approve free trade deal with SKorea despite carmaker opposition

EU legislator says carmakers oppose SKorea FTA

SEOUL, South Korea – The European Parliament is willing to approve a free trade agreement with South Korea by the end of this year despite intense pressure against it from Europe’s automakers, a legislator said Friday.
South Korea and the European Union concluded an ambitious deal to slash tariffs and … Read this article on Gaea Times at : EU Parliament willing to approve free trade deal with SKorea despite carmaker opposition.

BWA auction ends, government reaps $8.5 bn

NEW DELHI – The auction for government broadband wireless access (BWA) services ended Friday, swelling the government exchequer to Rs.38,543.31 crore (over $8.56 billion).

The pan-India license price stood be at Rs.12,847.77 crore (over $2.85 billion) at end of the 16-day auction in which 11 companies participated, according to official data released here.
The auction, which …. Source  : Gaea News Network.

Ahmadinejad slams US during Shanghai Expo visit after China’s about-face on Iran sanctions

Iran slams US after China about-face on sanctions
SHANGHAI – Iranian President Mahmoud Ahmadinejad on Friday dismissed new sanctions aimed at punishing his country for failing to halt part of its nuclear program, calling the latest U.N. resolution “a worthless paper.”
During a visit to China’s financial hub of Shanghai, Ahmadinejad also accused …. Read the original article  : here.

‘G-20 summit core agenda is to rejig economic system’

TORONTO – Outlining the core agenda of the G-20 meeting here later this month, Canada Thursday said the grouping will work to put the global financial system on a more solid footing to avoid repeat of the economic meltdown.

Bank of Canada Governor Mark Carney told the International Organization of Securities Commissions meeting in Montreal that …. Source article on Gaea Times at  : ‘G-20 summit core agenda is to rejig economic system’.

Japan’s new premier warns of Greece-like debt crisis if action not taken

Japan PM warns of Greece-like debt crisis
TOKYO – Japan’s new prime minister warned Friday that his country could face a financial mess like the one that has crippled Greece if it did not deal urgently with its swelling national debt.
While Japan is on firmer financial footing than Greece because most of its debt … Read : Japan’s new premier warns of Greece-like debt crisis if action not taken.

Indian teen in Finland, bringing Facebook, Twitter closer

HELSINKI – Want to know from your mobile phone where to hangout in Delhi or eat out in Beijing? Three teens in Finland, including one from India, are giving final touches to a system that integrates social networking sites like Twitter and Facebook.

They are part of a team of 30 brainy teens who have come … Read the original article on Gaea Times at : Indian teen in Finland, bringing Facebook, Twitter closer.

Drug companies agree to share Alzheimer’s, other brain research data in hunt for new drugs

Drug companies share data to speed brain research

WASHINGTON – In an unusual step, a dozen competing drug companies have agreed to share data on thousands of Alzheimer’s patients in hopes that the extra information will spark new ideas for treatments.
The database being announced Friday covers 4,000 patients and counting. It was created in consultation with [..] Read the original article: here.

Government says China’s May inflation rose to 3.1 percent, exceeding official target for year

China May inflation rises to 3.1 percent
BEIJING – China’s inflation edged higher in May amid signs that the third-largest economy’s rapid rebound from the global downturn is slowing.

Consumer prices in May rose 3.1 percent from a year earlier, accelerating from April’s 2.8 percent rate, the National Bureau of Statistics said Friday. That was driven by … Read the original article on Gaea Times at : Government says China’s May inflation rose to 3.1 percent, exceeding official target for year.

China’s May inflation rises amid signs rapid rebound from global downturn is slowing

China May inflation rises, industrial growth slows

BEIJING – China’s inflation rose in May amid signs its rebound from the global slump is slowing, adding to pressure on Beijing to keep growth on track and control politically sensitive prices.
Consumer prices rose 3.1 percent from a year earlier, up from April’s 2.8 percent rate, the National Bureau …. Original article  : China’s May inflation rises amid signs rapid rebound from global downturn is slowing.

Benchmark indices slip marginally (Weekly market review)

MUMBAI – Indian equities markets ended the week marginally lower from its previous weekly close amid prevailing uncertainty in global markets, though traders cheered the country’s better-than-expected industrial numbers.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE) fell 0.31 percent or 52.74 points to end at 17,064.95 points Friday. The sensex the week …. Source article  : Benchmark indices slip marginally (Weekly market review).

Obama to discuss oil spill with British prime minister as tensions rise over criticism of BP

Obama, Britain’s Cameron to talk about oil spill
WASHINGTON – The Gulf oil spill, with a British company the villain, is raising tensions on both sides of the Atlantic.
President Barack Obama and British Prime Minister David Cameron planned to discuss the environmental catastrophe Saturday by telephone, hoping to ease what has become a growing …. Original source  : Obama to discuss oil spill with British prime minister as tensions rise over criticism of BP.

China’s private sector provides 90 percent of jobs in 2010

BEIJING – Over 150 million people in China found employment in the first few months of 2010 and 90 percent of these jobs were provided by the private sector, a Chinese cabinet minister has said.

At the end of this year’s first quarter, private firms employed more than 152 million people, and more than 700,000 laid-off … Read more »».

Tata Sky In Legal Mess

NEW DELHI, INDIA (GaeaTimes.com)- Tata Sky which is one of the leading DTH service providers of India is in trouble. The endeavor to get HD feed of the ongoing FIFA world cup 2010 from ESPN on a non discriminatory basis has met with a roadblock. The Delhi High Court has refused to admit its … Read the original article on Gaea Times at : Tata Sky In Legal Mess.

Governing coalition faces strong challenge from center-right opposition in Slovakia election

Slovakia coalition fighting for survival
BRATISLAVA, Slovakia – Slovakia’s three party governing coalition is fighting for survival in a parliamentary election on Saturday, challenged in a tight race by the center-right opposition.
Prime Minister Robert Fico’s left-leaning party – which has promised to maintain the welfare state, in contrast to the budget-cutting being implemented in …. Source article on Gaea Times at  : Governing coalition faces strong challenge from center-right opposition in Slovakia election.

Obama lauds Indian woman who came to build her dreams

WASHINGTON – US President Barack Obama has lauded an Indian woman entrepreneur who came to America “to build your own dreams and be your own boss” and set up a successful technology services company.

This “promise of being able to build your own dreams and be your own boss led Prachee – Prachee Devadas … Read the original article on Gaea Times at : Obama lauds Indian woman who came to build her dreams.

60 years later, on a continent far, far away, US and England meet again

60 years later, US and England meet again
RUSTENBURG, South Africa – When they emerged victorious the last time, they wound up calling it “The Game of Their Lives.”

Once-unknown players have spent a lifetime reliving memories of that unexpected night in Belo Horizonte, when the United States rose up and defeated mighty England in the World … Original article on : 60 years later, on a continent far, far away, US and England meet again.

Alaska attorney general says state settles suit with pension actuary for $500 million

AG: Alaska settles pension suit for $500 million

JUNEAU, Alaska – Alaska’s attorney general said Friday that the state has settled a breach of contract and professional malpractice lawsuit against its former actuary for $500 million.
Dan Sullivan said he believes the agreement between the Alaska Retirement Management Board and Mercer Inc. to be the largest of …. Source article on Gaea Times at  : Alaska attorney general says state settles suit with pension actuary for $500 million.

Alaska attorney general: State settles suit with pension actuary for $500M

AG: Alaska settles pension suit for $500M
JUNEAU, Alaska – Alaska’s attorney general said Friday that the state has settled a breach of contract and professional malpractice lawsuit against its former actuary for $500 million.

Dan Sullivan said the agreement between the Alaska Retirement Management Board and Mercer Inc., may be the largest of its kind. He …. Read the original article  : Alaska attorney general: State settles suit with pension actuary for $500M.

Regulators shut down bank in Washington, marking 82nd US bank failure this year

Regulators shut Seattle-based bank
WASHINGTON – Regulators on Friday shut down a bank in Washington, bringing to 82 the number of U.S. bank failures this year.

Seattle-based Washington First International Bank, with $520.9 million in assets and $441.4 million in deposits, was closed by the Washington Department of Financial Institutions, which appointed the Federal Deposit Insurance Corp. …. Source article  : Regulators shut down bank in Washington, marking 82nd US bank failure this year.

Rookie WR Dez Bryant, veteran LB Keith Brooking back at practice for Cowboys minicamp

Bryant, Brooking return to practice for Cowboys

IRVING, Texas – Dez Bryant was back where he wanted to be Friday afternoon. The rookie receiver was catching passes in practice for the Dallas Cowboys instead of working on the side with a trainer.
After missing most of the last three days of voluntary workouts because of left hamstring …. Original article on Gaea Times at  : Rookie WR Dez Bryant, veteran LB Keith Brooking back at practice for Cowboys minicamp.

Boeing 787 test pilot narrates, stars in new IMAX movie on jetliner’s development, competition

Boeing 787 test pilot stars in new IMAX movie

SEATTLE – The chief test pilot for Boeing’s 787 jetliner program is becoming a movie star.
Pilot Mike Carriker is the central figure and narrator of a new IMAX movie, “Legends of Flight.” On Friday he previewed the 3-D film at the Pacific Science Center in Seattle to … Read more >>.

Obama to meet BP heads as oil spill continues

WASHINGTON – US President Barack Obama will hold his first meeting next week with top officials from oil giant BP, the White House said Friday, as government scientists said the worst oil spill in US history could be nearly twice as bad as previously thought.

Obama will meet with BP Chairman Carl-Henric Svanberg in Washington Wednesday. … Original source on Gaea Times at : Obama to meet BP heads as oil spill continues.

Getting tough: NCAA’s harsher penalties could become new norm for rule-breakers

NCAA could make harsh penalties the new norm

INDIANAPOLIS – The NCAA is finally backing up its tough talk.
By penalizing Southern California’s football program with the loss of 30 scholarships and a two-year postseason ban, the committee on infractions sent a clear message to programs and coaches willing to win at any cost: Learn from the … Original source on Gaea Times at : Getting tough: NCAA’s harsher penalties could become new norm for rule-breakers.

First round of Medicare checks to help cover high drug bills mailed Thursday

Medicare checks to help pay high drug bills mailed

WASHINGTON – The first government checks to help Medicare recipients with big prescription drug bills were mailed Thursday, and more will be sent in the middle of every month.
A total of 4 million people will receive $250 checks this year, once they hit a gap in Medicare … Original article on : First round of Medicare checks to help cover high drug bills mailed Thursday.

Capital Southwest closes deal to sell Lifemark Group to NorthStar Memorial for $84.8M

Capital Southwest sells Lifemark Group for $84.8M

DALLAS – Investment company Capital Southwest Corp. said it has closed its sale of Lifemark Group, a California cemetery and funeral home operator, for $84.7 million to NorthStar Memorial Group LLC.
The deal for the sale was signed on April 29. Dallas-based Capital Southwest said Thursday that it estimates that …. Read the original article  : Capital Southwest closes deal to sell Lifemark Group to NorthStar Memorial for $84.8M.

Greek PM says steps to fight country’s debt crisis starting to take hold

Greek PM optimistic about future
VIENNA – Steps taken to fight Greece’s debt crisis are starting to take hold, the country’s prime minister said Friday in an attempt to ease international concern about its fate.

After accumulating massive public debt and overspending, the Mediterranean state avoided a default last month through the first installment of a euro110 … Read more : Greek PM says steps to fight country’s debt crisis starting to take hold.

Sixty years later, on a continent far, far away, US and England meet again

Sixty years later, US and England meet again

RUSTENBURG, South Africa – When they emerged victorious the last time, they wound up calling it “The Game of Their Lives.”
Once-unknown players have spent a lifetime reliving memories of that unexpected night in Belo Horizonte, when the United States rose up and defeated mighty England in the World … Original source on Gaea Times at : Sixty years later, on a continent far, far away, US and England meet again.

Summary Box: Stocks climb after stronger consumer confidence offsets drop in retail sales

Summary Box: Dow logs first weekly gain in a month

STRONGER WEEK: The Dow Jones industrials rose 39 points Friday to climb 2.8 percent for the week. It was the first weekly advance in a month and the best week since mid-February.
SLUGGISH START: Stocks fell in morning trading after the government said retail sales dropped 1.2 …. Read the original article  : Summary Box: Stocks climb after stronger consumer confidence offsets drop in retail sales.

Summary Box: Interest rates sink as poor retail sales report boosts demand for Treasurys

Summary Box: Rates drop on poor retail sales data

RATES RETREAT: Interest rates turned lower in the bond market Friday on higher demand for low-risk investments like Treasurys.
RETAIL SALES DISAPPOINT: Investors sought safety in bonds after the Commerce Department reported that retail sales fell 1.2 percent in May, the first drop in eight months and well …. Original article  : Summary Box: Interest rates sink as poor retail sales report boosts demand for Treasurys.

Global financial recovery may be slow: Narayana Murthy

Bangalore, June 13 (ANI):Infosys Technologies Chairman N. R. Narayana Murthy has said the recovery from the global financial crisis might be slow and weak.

Murthy said the early signs of an emergence from the global recession cannot be taken for granted, and the threat from highly leveraged economies cannot be ignored.

“Well, because the whole situation is … Read : Global financial recovery may be slow: Narayana Murthy.

A mobile that will operate with gaze of an eye

HELSINKI – In the not so distant future you would only need to look at your spectacles intently to read your mobile messages or watch a video clip, apart from making the basic phone call.

Finnish mobile technology giant, the $50-billion Nokia, is working on a gizmo in which an eye gaze is the critical factor. …. Source article on Gaea Times at  : A mobile that will operate with gaze of an eye.

South Korea announces steps to battle financial volatility caused by swings in capital flows

SKorea announces plan to battle capital volatility

SEOUL, South Korea – South Korea’s financial authorities announced on Sunday measures to help stabilize the country’s currency and financial system and limit damage to the broader economy during times of financial volatility such as the 2008 global crisis.
South Korea has suffered when international capital flows suddenly reverse during …. Original article on Gaea Times at  : South Korea announces steps to battle financial volatility caused by swings in capital flows.

Nearly complete results: Center-right opposition has majority in Slovak parliamentary election

Opposition has majority in Slovakia election
BRATISLAVA, Slovakia – The center-right opposition came out ahead in parliamentary elections in Slovakia, dealing a blow to a ruling party that had promised to maintain the country’s welfare state as other European countries hack their budgets.
Though Prime Minister Robert Fico’s left-leaning party took the largest share of …. Original source  : Nearly complete results: Center-right opposition has majority in Slovak parliamentary election.

From entertainment to aviation, the journey of Kalanidhi Maran

NEW DELHI – When Kalanidhi Maran, who late Saturday sealed a $200-million deal to buy majority stake in budget carrier SpieceJet was named among 40 richest Indians by Forbes last year, it was testimony to the mercurial rise of this first-generation entrepreneur at such a young age.

Being scion of a family … Read more »»».

India needs an ambitous programme on water optimisation (Opinion)

It is, indeed, ironic that, even after 62 years of self-rule, Pranab Mukherjee, the finance minister of India, says an often-erratic annual wind phenomenon called the monsoon that switches its role rather easily between that of an angel and a devil, is the real holder of the portfolio and not he.

True, humans can do little … Read this article on Gaea Times at : India needs an ambitous programme on water optimisation (Opinion).

Royal wedding triggers monarchy debate in egalitarian Sweden buckling down to austerity

Royal wedding triggers monarchy debate in Sweden

STOCKHOLM – It will be a royal moment of glory set against the bleak backdrop of Europe’s financial crisis.
The June 19 wedding in Stockholm Cathedral between Crown Princess Victoria and her personal trainer Daniel Westling has triggered debate about why an otherwise egalitarian country like Sweden retains such an …. Source  : Gaea News Network.

President lays foundation stone for Jalgaon airport

JALGAON – President Pratibha Patil Sunday laid the foundation stone for the development and expansion of the Jalgaon airport here.

“I congratulate the Airports Authority of India and the civil aviation ministry to have identified the need for developing the Jalgaon airport. Jalgaon is an important trade centre of north Maharashtra and hence the step is …. Source  : Gaea News Network.

Wireless broadband will be a game changer in India (Special)

In India’s spectrum auction, broadband wireless access hitched on to third generation (3G) telephony as a poor cousin – a seemingly dull sequel of the high-profile 3G spectrum auction last month that brought nearly $15 billion into the government’s kitty.

India’s media spent just a few hours reporting on the $8 bn that came from the …. Original article  : Wireless broadband will be a game changer in India (Special).

Telecom operators worry as Dhaka plans tough law

DHAKA – Investors and telecom service operators in Bangladesh are worried at the government’s move to bring in a stringent law that has provision of arrest without warrant, no scope for appeal and a heavy fine, to punish wrongdoers.

The government has moved to amend the telecommunication law to punish telecom operators without giving them scope … Original article on : Telecom operators worry as Dhaka plans tough law.

Nearly complete results: Center-right opposition is winning in Slovak parliamentary election

Opposition winning Slovakia parliamentary election
BRATISLAVA, Slovakia – The center-right opposition came out ahead in parliamentary elections in Slovakia, dealing a blow to a ruling party that had promised to maintain the country’s welfare state as other European countries hack their budgets.
Though Prime Minister Robert Fico’s left-leaning party took the largest share of the …. Original source  : Nearly complete results: Center-right opposition is winning in Slovak parliamentary election.

Davidar fired by Penguin for sexual harassment, didn’t quit

TORONTO – David Davidar, Indian-born president and CEO of Penguin Canada who announced Tuesday that he is voluntarily leaving the publishing giant, was actually terminated following a sexual harassment complaint by a former employee.

Joined by Penguin Group chairman John Makinson, Davidar had announced Tuesday that he is leaving the company to “pursue his successful writing … Read more »».

US gives BP 48 hours to boost oil containment

WASHINGTON – The United States Saturday increased pressure on energy giant BP Plc, giving it 48 hours to boost capacity to contain the gushing oil well in the Gulf of Mexico, as government scientists said the spill could be twice as bad as previously estimated.

US government scientists Thursday said anywhere from 20,000 to 40,000 barrels … Read this article on Gaea Times at : US gives BP 48 hours to boost oil containment.

Preliminary results: Center-right opposition is leading in Slovak parliamentary election

Tight race in Slovak parliamentary election
BRATISLAVA, Slovakia – Preliminary results show the center-right opposition is slightly leading in a parliamentary election in Slovakia.
The Statistics Office says the governing left-leaning party of Prime Minister Robert Fico is heading for a victory with 36.7 percent of the vote, or 65 seats in the 150-seat Parliament … Read : Preliminary results: Center-right opposition is leading in Slovak parliamentary election.

Spirit Airlines pilots strike; thousands stranded as discount carrier cancels weekend flights

Spirit Airlines pilots strike, stranding thousands

FORT LAUDERDALE, Fla. – Spirit Airlines flights were being canceled again Sunday as a pilot’s strike entered its second day, shutting down the discount carrier and stranding thousands of travelers.
Spirit’s CEO said no talks were scheduled with picketing pilots, and a union leader said the pilots “will not return to … Read : Spirit Airlines pilots strike; thousands stranded as discount carrier cancels weekend flights.

Bimbo recalls Soft White Bread sold in California, Idaho, Oregon and Washington

Bimbo recalls Soft White Bread
SAN FRANCISCO – Bimbo Bakeries USA is recalling some of its bread distributed in California and three other states after discovering the label did not indicate the product contained milk.

The company said Saturday that it has not received any reports of illness from the mislabeled bread, but warned that people who … Read more : Bimbo recalls Soft White Bread sold in California, Idaho, Oregon and Washington.

Stalled Spartan: Tom Izzo, Cavaliers continue courtship without any decision

Izzo yet to announce future plans
CLEVELAND – The Tom Izzo saga staggers on.

And you thought the LeBron James rumors were getting tiresome.
Izzo’s week-plus courtship by the Cleveland Cavaliers continued Saturday with no resolution – and no timetable for a decision from Michigan State’s coach, who is considering a five-year, $30 million contract offer from the …. Original article  : Stalled Spartan: Tom Izzo, Cavaliers continue courtship without any decision.

Exit poll: Center-right opposition appears to be winning in Slovak parliamentary election

Exit poll: Opposition winning Slovak election
BRATISLAVA, Slovakia – An exit poll suggests that the center-right opposition appears to be winning a parliamentary election in Slovakia.
The poll Saturday indicated that the governing, left-leaning party of Prime Minister Robert Fico may finish first but that three center-right parties might be able to form a governing …. Source article on Gaea Times at  : Exit poll: Center-right opposition appears to be winning in Slovak parliamentary election.

Seeking right tone on oil spill, Obama is gentle with Britons in his diplomacy, tough with BP

Obama stand on oil spill is tough and temperate
WASHINGTON – President Barack Obama took a fist-and-olive-branch approach to the Gulf oil spill Saturday, giving BP a deadline to accelerate cleanup efforts while also reassuring Britons he’s not pointing a finger at them or their national institutions.
The strategy carries some political risk. …. Read the original article  : here.

Over 130 acres of illegally sold government land recovered

NEW DELHI – The Delhi government Saturday said it has retrieved about 136.5 acres of government agricultural land illegally sold by the land mafia in the last two months.

“The revenue department has retrieved agriculture land measuring 136.5 acres in two revenue districts of northwest and southwest in May and June. It includes gram sabha and … Read the original article on Gaea Times at : Over 130 acres of illegally sold government land recovered.

India’s May inflation hit 10.2 percent on strong growth, more interest rate hikes possible

India’s May inflation rises to 10.2 percent

MUMBAI, India – India’s headline inflation accelerated faster than expected to 10.2 percent in May over last year, as inflation spreads from food and fuel to core manufacturing prices, government data showed Monday.
High food and fuel prices have plagued India for months, but Monday’s data showed that manufacturing prices … Read : India’s May inflation hit 10.2 percent on strong growth, more interest rate hikes possible.

Westwood wins 2nd PGA Tour title on 4th playoff hole at St. Jude Classic in Open tuneup

Westwood tunes up for US Open with playoff win

MEMPHIS, Tenn. – Only eight men have won a PGA event the week before a major championship. No one has won on tour, then gone onto victory at a U.S. Open.
Lee Westwood now gets his chance to be the first do just that. He gave himself a …. Read the original article  : Westwood wins 2nd PGA Tour title on 4th playoff hole at St. Jude Classic in Open tuneup.

Delhi’s water crisis ends, Jats call off protest (Second Lead)

NEW DELHI/GHAZIABAD – The water crisis that had gripped the Indian capital ended Monday after Jats in Uttar Pradesh demanding job quotas called off a protest during which they cut off water to Delhi.

Leaders of the Jat community in Ghaziabad district bordering the capital announced the end of their crippling protest saying the central government …. Read the original article  : here.

Sensex trading higher as Asia gains

MUMBAI – A benchmark index for Indian equities Monday pared some opening gains but was trading higher amid positive cues from other Asian markets.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,118.74 points, was ruling at 17,198.89 points, 133.94 points or 0.78 percent up from its previous close … Read more >>.

Sticking points in financial overhaul are a feast for lobbyists seeking to reshape outcome

A lobbying tempest engulfs financial overhaul
WASHINGTON – Congress’ final tinkering with Wall Street overhaul this month offers lobbyists a last-ditch shot to reshape the package on behalf of clients with billions at stake.
Even as the legislation gets tougher on banks by the week, agents of influence are hardly strangers on Capitol Hill. Many …. Source article on Gaea Times at  : Sticking points in financial overhaul are a feast for lobbyists seeking to reshape outcome.

Certificate of Registration of KLS Finance and Investments Ltd. ??? Cancelled

The Reserve Bank of India has on May 12, 2010 cancelled the certificate of registration granted to KLS Finance and Investments Limited having its registered office at KLS Complex, Bellary Road, Hospet 583201 for carrying on the business of a non-banking financial institution as the company has …. Original article on Gaea Times at  : Certificate of Registration of KLS Finance and Investments Ltd. ??? Cancelled.

Certificate of Registration of Unicorn Holdings Private Limited ??? Cancelled

The Reserve Bank of India has on April 13, 2010 cancelled the certificate of registration granted to Unicorn Holdings Private Limited having its registered office at 1st Floor, Agni Block, Salarpuria G.R. Tech Park, Next to ITPL, Whitefield Road, Bangalore – 560 066 for carrying on the business of a … Read more : Certificate of Registration of Unicorn Holdings Private Limited ??? Cancelled.

Application for Certificate of Registration of M/s. Bubby’s Commerce Private Limited – Rejected

The Reserve Bank of India has rejected on June 7, 2010 the application for certificate of registration of M/s. Bubby’s Commerce Private Limited, having its registered office at D-75, Bangur Avenue, 3rd Floor, Kolkata – 700 055 for carrying on the business of a non-banking financial institution. Following rejection …. Original article  : Application for Certificate of Registration of M/s. Bubby’s Commerce Private Limited – Rejected.

Rice sowing picks up in Orissa

BHUBANESWAR – Rice sowing has picked up in Orissa with the onset of monsoon, a state government official said here Monday.

“Sowing has been completed in about 35,000 hectares of low land areas” Babaji Giri, director of the agriculture department, told IANS.
Last year, 3,264 villages in 15 of the state’s 30 districts faced drought due …. Source  : Rice sowing picks up in Orissa.

Delhi water crisis resolved as Jats call off protests

NEW DELHI – The water crisis which had hit parts of Delhi was resolved Monday after the Jats, who had cut water supply to the capital, called off their protest seeking job quota and reservation in educational institutions, an official said.

“The water from the regulators has been released. The two pipelines will be refilled within … Read the original article on Gaea Times at : Delhi water crisis resolved as Jats call off protests.

EU, IMF delegation visit Greece to review progress on deficit reduction

EU, IMF delegation in Athens to review progress

ATHENS, Greece – A delegation from the International Monetary Fund and the European Union is in Athens for an interim review of the country’s efforts to pull itself out of a major debt crisis that pushed it to the brink of default.
The delegation, which will stay in Greece … Read more >>>.

Paramilitary troopers to break Manipur blockade: Pillai

IMPHAL – The central government Monday said paramilitary troopers would be used to break the over two-month long economic blockade enforced by Naga groups in Manipur to ensure supplies of essentials into the region, facing an acute shortage of food and medicines, officials said.

Union Home Secretary G.K. Pillai told IANS that troopers from the …. Read the original article  : Paramilitary troopers to break Manipur blockade: Pillai.

Mukherjee to take stock of bank’s performance on Credit Deposit Ratio

PATNA – Finance Minister Pranab Mukherjee will meet public sector banks chiefs in Patna on Monday and take stock of bank’s performance on the Credit Deposit Ratio.

Chief Ministers of a few states, who have been raising concern over the poor credit deposit ratio, are also likely to attend the meeting.

It has been reported that their …. Source  : Gaea News Network.

India’s annual inflation enters double digits at 10.16 percent

NEW DELHI – Driven by higher food and fuel prices, India’s annual inflation touched double digits at 10.16 percent in May, rising from 9.59 percent in April, the government said Monday.

The annual inflation was 1.38 percent during May 2009.
Data released by the commerce ministry showed prices of food articles rose 16.49 percent last [..] Read the original article: here.

Web site to connect Indian entrepreneurs, investors from June 16

New Delhi ,June 14 (ANI-Business Wire India): IndianFunding.com, one of India’s leading online investment communities will present a one of a kind opportunity to bring Indian entrepreneurs and investors on a common platform from June 16.

“Our vision is that if anyone, anywhere in India needs money for his business, he should have easy access …. Original source  : Web site to connect Indian entrepreneurs, investors from June 16.

Mint oil prices rebound, but few small mint farmers see a future with foreign competition

US mint production wilts with foreign competition

SAN PIERRE, Ind. – Larry Wappel strode into one of his peppermint fields, stirring up a refreshing fragrance as he brushed past deep-green plants holding the potent oil that gives a cool burst of flavor to toothpaste, candies and other products.
When Wappel planted his first peppermint fields in northern …. Source article on Gaea Times at  : Mint oil prices rebound, but few small mint farmers see a future with foreign competition.

Mahindra Satyam Sponsor In FIFA

NEW DELHI, INDIA (GaeaTimes.com)- Fifa World cup 2010 which happens to be one of the greatest events on earth has Mahindra Satyam as the official information technology service provider. Not only that, Mahindra Satyam is also taking care of the event management for the tournament.
Mahindra Satyam officials are of the opinion that the solutions provided … Read the original article on Gaea Times at : Mahindra Satyam Sponsor In FIFA.

Water crisis in Delhi after Jat protests

NEW DELHI – Parts of the Indian capital were hit hard by a water crisis after Jats in Uttar Pradesh cut water supply to Delhi seeking job quotas and reservation in educational institutions.

The protestors in Ghaziabad district Sunday turned off supply to two water treatment plants, forcing large parts of east and south Delhi to …. Source  : Water crisis in Delhi after Jat protests.

Australia proposes penalty of 10 years in jail for those who threaten to bomb planes, airports

Australian bomb hoaxers could face decade in jail

SYDNEY – People who falsely claim a bomb is on board a plane or at an airport could be jailed for up to 10 years under tough new Australian legislation announced Monday.
The proposed penalty is a sharp increase over the current maximum punishment of two years, and was …. Original source  : Australia proposes penalty of 10 years in jail for those who threaten to bomb planes, airports.

Government to send troopers to end Manipur blockade

NEW DELHI – Paramilitary forces will be deployed from Tuesday onwards to end the 65-day economic blockade of Manipur by Naga tribal groups that has led to acute shortages of food and medicines, says Home Secretary G.K. Pillai.

“We will move the forces to lift the blockade,” Pillai told IANS here as supplies of essentials to …. Original article on Gaea Times at  : Government to send troopers to end Manipur blockade.

Wipro Wins 10 Year Contract

BANGALORE, INDIA (GaeaTimes.com)- Wipro Ltd along with TV Sundram Iyengar And Sons which happens to be an automobile parts distribution company have announced their 10 year contract. Reportedly, the contract between the Wipro and TV Sundram Iyengar And Sons shall offer leverage to IT (Information Technology) for all business units and the functional areas of …. Source  : Gaea News Network.

Societe Generale CEO says trading scandal is in the past, looks forward with 5-year plan

SocGen CEO says Kerviel affair in the past

PARIS – The massive trading loss that rocked Societe Generale in 2008 is in the past, the French bank’s chief executive said Tuesday, as he unveiled a five-year plan to restore investor confidence in the company.
CEO Frederic Oudea, who was chief financial officer when SocGen announced a ???5 …. Source  : Societe Generale CEO says trading scandal is in the past, looks forward with 5-year plan.

Wipro Joins Hand With LogLogic

SAN JOSE (GaeaTimes.com)- LogLogic which happens to be a leader in Log and Security management have announced their strategic partnership with Wipro Technologies. Together they shall strive to deliver security as well log management solutions on a global basis. As a matter of fact both LogLogic as well as Wipro Technologies have already launched a …. Original article  : Wipro Joins Hand With LogLogic.

China makes strategic forays into Bangladesh

DHAKA – In another sign of its growing strategic inroads into South Asia, China has proposed to help Bangladesh build a deep-sea port in Chittagong and agreed to exchange data about the Brahmaputra river that flows from Tibet to Bangladesh through India.

China has also promised assistance in installing Bangladesh’s first space satellite.
All …. Original source  : China makes strategic forays into Bangladesh.

World stock markets mixed amid European anxiety after Greek downgraded to “junk” bond rating

World stocks mixed amid Europe anxiety
BANGKOK – World stock markets were mixed Tuesday, with some investors staying the course but others finding safety on the sidelines following a drop on Wall Street triggered by anxieties over Europe’s economic health.

Oil prices hovered above $75 a barrel as traders eyed demand for crude, while key indexes in …. Source  : Gaea News Network.

Jackie Chan’s son says he’s overcome doubts about show business, prefers music to movies

Jackie Chan’s son prefers music to movies
HONG KONG – Jackie Chan’s son says he has overcome initial doubts about joining his father in show business, but he prefers making music over movies.

Six years after his movie and album debut, 27-year-old Jaycee Chan said he was starting to shed the baggage of his famous family name …. Read the original article  : here.

Nod for 10 percent divestment in Coal India, Hindustan Copper

NEW DELHI – The government Tuesday approved 10 percent divestment of its shares in Coal India and allowed another state-run company Hindustan Copper to issue 10 percent fresh equity to the public to raise money towards capital expenditure.

The decision, that also calls for the government to divest 10 percent stake in Hindustan Copper along with …. Source article on Gaea Times at  : Nod for 10 percent divestment in Coal India, Hindustan Copper.

Tesco Eyeing Global Expansion

UNITED KINGDOM (GaeaTimes.com)- Tesco the UK based supermarket giant has announced that Philip Clarke, its head for Europe and Asian operations will replace Terry Leahy, the longtime Chief Executive of the company next year. This is indicating that the retailer will carry on with its strong global expansion plans. It is eyeing …. Original article on Gaea Times at  : Tesco Eyeing Global Expansion.

Companies lure auditors to walk slippery road of irregularities

WASHINGTON – Concern about preserving their reputation can cause auditors to travel on the slippery road of irregularities that ruined not only Enron but auditing firm Arthur Anderson, says a new study.

The authors’ lesson for management is that long-term relationships between auditing firms and clients can lead to inaccurate reporting despite – or perhaps because … Read more »»».

Citi appoints Rahul Shukla head of corporate banking for India

MUMBAI – Citi has appointed Rahul Shukla as head of Corporate Banking for Citi in India, leading the team that manages the diverse financing needs of Citi’s key corporate clients in India.

Rahul will report to Ravi Kapoor, head of Global Banking India.

“Rahul’s appointment underlines our commitment to drive this business forward which we …. Original source  : Citi appoints Rahul Shukla head of corporate banking for India.

Growing hidden costs of budget airlines

LONDON – Tourists to Britain looking for cheap internal or European flights, beware. Budget airlines are sneaking in more hidden costs, jacking up the prices to a near double.

The list of must-pay fees is getting longer for most of these airlines. And even these costs are to go up from next month.
Those using … Read more »».

Japan warns it may quit whaling commission if no progress made in easing of ban

Japan may quit whaling commission if ban stays put

TOKYO – Japan is considering withdrawing from the International Whaling Commission if no progress is made toward easing an international ban on commercial whaling, its fisheries minister said Tuesday.
The IWC – the international body that regulates whaling – will gather for its annual meeting next week in … Read more »».

Radio broadcaster fatally shot on stage as he hosted Philippines singing contest

Singing contest host killed on Philippines stage

MANILA, Philippines – A brazen gunman shot and killed a radio journalist as he hosted a singing contest before shocked spectators in the southern Philippines, police said Tuesday.
Desidario Camangyan of Sunshine FM radio died from a gunshot wound to the head Monday night inside the gymnasium of Davao Oriental …. Original article  : Radio broadcaster fatally shot on stage as he hosted Philippines singing contest.

Kashmir back to normal after three days of shutdown

SRINAGAR – Schools reopened as did markets, banks and other business establishments in Srinagar and other parts of the Kashmir Valley Tuesday following three days of separatist shutdowns.

City roads once again returned to life with most main roads clogged with traffic. The Kashmir University, however, postponed all examinations scheduled for Tuesday.
Senior separatist leader …. Original article  : Kashmir back to normal after three days of shutdown.

Focus on small farmers to achieve food security: Swaminathan

NEW DELHI – India must act swiftly on agriculture and tap the potential of double yields, even as the proposed food security bill can address the economic well-being of small and marginal farmers, says noted farm scientist M.S. Swaminathan.

One of the key architects of the Green Revolution of the 1970s and 1980s, the soft-spoken scientist … Original article on : Focus on small farmers to achieve food security: Swaminathan.

Realty sector revives in Hyderabad after political crisis

HYDERABAD – The Realty sector in Hyderabad has bounced back after the recent political crisis, as demand for residential and commercial properties is growing.

The trend is growing evidently in Tier I and Tier II areas, as these are high-demand markets.

“Market is improving as of now because of these developments happening in the Hyderabad …. Source  : Gaea News Network.

Nod for divestment in Coal India, Hindustan Copper

NEW DELHI – The government Tuesday approved 10 percent divestment of its shares in Coal India and allowed another state-run firm Hindustan Copper to issue 10 percent equity to the public.

The decision was taken at a meeting of the Cabinet Committee on Economic Affairs that was presided over by Prime Minister Manmohan Singh.
Briefing … Read : Nod for divestment in Coal India, Hindustan Copper.

Mixed feelings, deep anxiety about the future define the ‘Mubarak children’ generation

Mixed feelings define Mubarak’s children in Egypt

CAIRO – To the millions of Egyptians who have known no other president, Hosni Mubarak is the “Father of the Nation.” But as with many fathers, they also have deeply mixed feelings toward him.
Nearly half of Egypt’s population of 78 million were born or raised under Mubarak’s nearly 30-year …. Original article  : Mixed feelings, deep anxiety about the future define the ‘Mubarak children’ generation.

Showdown averted as Manipur blockade suspended

IMPHAL – A major showdown between security forces and tribal Naga protesters was averted with the apex tribal students’ group of Nagaland announcing that it would suspend a more than two-month blockade of roads leading to Manipur by Tuesday evening.

“We are temporarily suspending the economic blockade from 6 p.m. Tuesday following personal requests by … Read the original article on Gaea Times at : Showdown averted as Manipur blockade suspended.

Asian stocks post modest gains despite Wall Street anxiety over Greek “junk” bond rating

Asian stocks up despite Wall Street anxiety

BANGKOK – Asian shares rose slightly Tuesday as skittish investors came back to the market despite a drop on Wall Street triggered by anxieties over Europe’s economy.
Oil rose past $75 per barrel, while key indexes in Japan, South Korea, Hong Kong and Australia rose tepidly. The dollar weakened against … Read this article on Gaea Times at : Asian stocks post modest gains despite Wall Street anxiety over Greek “junk” bond rating.

CPI-M demands withdrawal of higher licence fee for BSNL

NEW DELHI – The Communist Party of India-Marxist Wednesday asked the government to let state-run telecom company Bharat Sanchar Nigam Limited (BSNL) pay the licence fee for 3G spectrum at par with private operators.

The party termed the department of telecommunications order asking BSNL to pay a higher licence fee than the private operators as “unjust” …. Source article  : CPI-M demands withdrawal of higher licence fee for BSNL.

BP shares recover from weak open in London ahead of chairman’s meeting with President Obama

BP shares fluctuate ahead of White House meeting
LONDON – Shares in BP PLC fluctuated in London trading Wednesday ahead of what promises to be a tense meeting between the oil company’s chairman and U.S. President Barack Obama in Washington.
Obama has vowed to make BP pay for all of the damage caused by its … Read this article on Gaea Times at : BP shares recover from weak open in London ahead of chairman’s meeting with President Obama.

Poles prepare to pick a new president in election that could shape the country’s direction

Tragedy sets tone in race for new Polish president

WARSAW, Poland – National tragedy has set the stage in Poland for a presidential election whose outcome could shape the country’s direction on issues like the adoption of the euro, welfare reform and even its mission in Afghanistan.
Two months after President Lech Kaczynski was killed in a … Read : Poles prepare to pick a new president in election that could shape the country’s direction.

Global stocks climb as Europe worries set aside after strong Wall Street gains

Wall Street cheer extends to Asia, Europe stocks

TOKYO – World markets climbed in holiday-thinned trade Wednesday after industrial and technology stocks drove Wall Street sharply higher and investors put aside worries about Europe’s debt mountain.
Oil prices, meanwhile, hovered below $77 a barrel and the dollar was slightly higher against the yen. The euro fell against …. Original article  : Global stocks climb as Europe worries set aside after strong Wall Street gains.

Naga blockade lifted, but trucks yet to reach Manipur

IMPHAL – Trucks carrying essentials to Manipur were yet to roll into the state Wednesday, a day after the apex Naga tribal students’ group lifted a more than two-month long economic blockade, officials said.

“It might take a couple of more days for trucks to ply normally on the highway,” Manipur government spokesperson and senior minister …. Source article  : Naga blockade lifted, but trucks yet to reach Manipur.

Swedish pilots strike, passengers stranded

STOCKHOLM – Scores of flights in Sweden were cancelled Wednesday because of a strike by Swedish airline pilots over failed wage talks and plans to change collective bargaining agreements.

Most of the 200 cancellations affected domestic flights, but a sizeable number of international flights operated by carriers including Scandinavian airline SAS and Norwegian Air were also … Read more : Swedish pilots strike, passengers stranded.

Obama schedules White House meeting Wednesday with BP oil executives, and Sen. Scott Brown

Obama to meet Wednesday with BP oil executives
WASHINGTON – President Barack Obama is following his prime-time speech on the massive Gulf of Mexico oil spill with a sit-down meeting Wednesday morning with executives from the BP oil company.
Obama and Vice President Joe Biden likely will repeat the president’s claim from Tuesday night’s speech …. Source article  : Obama schedules White House meeting Wednesday with BP oil executives, and Sen. Scott Brown.

Democratic concession to NRA on disclosure bill reaps revolt from liberal groups

Democrats face criticism from customary allies

WASHINGTON – House Democrats face a revolt by their traditional allies, angered by the special treatment given to the National Rifle Association in legislation requiring tougher disclosure on political advertising by independent groups.
“Regardless of your position about the legislation in general, we think you will agree with us that this … Read : Democratic concession to NRA on disclosure bill reaps revolt from liberal groups.

BP shares recover from weak start in London ahead of chairman’s meeting with President Obama

BP shares steady ahead of White House meeting
LONDON – Shares in BP PLC recovered from a drop on the open in London Wednesday ahead of what promises to be a tense meeting between the oil company’s chairman and U.S. President Barack Obama in Washington.
Obama has vowed to make BP pay for all of …. Source  : Gaea News Network.

Amid deficit worries, Senate Dems trim bill extending jobless benefits, doctors’ Medicare pay

Amid deficit worries, Dems trim unemployment bill

WASHINGTON – Faced with a losing showdown vote Wednesday, Senate Democrats trying to extend unemployment benefits and help for doctors facing Medicare payment cuts are scaling back a catchall tax and spending bill.
Anxiety over record budget deficits is fueling the moves, which include rolling back last year’s $25 a …. Original article  : Amid deficit worries, Senate Dems trim bill extending jobless benefits, doctors’ Medicare pay.

AP-GfK Poll bolsters Democrats’ hopes for retaining control of Congress

AP-GfK Poll bolsters congressional Democrats
WASHINGTON – There’s encouraging news for Democrats battling to retain control of Congress in this fall’s elections, with the party holding a slender edge in public trust for shepherding the economy and small gains in those saying their finances are healthy, according to a new poll.
The reeling economy remains … Read : AP-GfK Poll bolsters Democrats’ hopes for retaining control of Congress.

BP shares open down 0.6 percent ahead of chairman’s meeting with President Obama

BP shares down ahead of White House meeting

LONDON – Shares in BP PLC have opened lower in London ahead of a meeting between the oil company’s chairman and U.S. President Barack Obama.
Obama has vowed to make BP pay for all of the damage caused by its leaking well in the Gulf of Mexico, and has …. Source  : Gaea News Network.

Haryana farmers get 8-hour power supply for rice sowing

CHANDIGARH – Keeping in view the start of rice sowing season, the Uttar Haryana Bijli Vitran Nigam (UHBVN), a public sector power distribution agency, Wednesday began supplying electricity to agricultural tube wells for eight hours daily.

“UHBVN has decided to supply electricity to agriculture tube wells for eight hours everyday with immediate effect. It would continue … Read more >>>.

Wisconsin’s Democrats have got the blues as they fend off resurgent Republicans

Wisconsin’s Democrats have got the blues
MADISON, Wis. – Until recently, Wisconsin seemed to be a Democratic strategist’s dream – a blue state getting bluer. Its two U.S. senators were well-established liberal Democrats. The governor’s office and both houses of the Legislature were in Democratic control after years of divided government. And President Barack …. Source  : Wisconsin’s Democrats have got the blues as they fend off resurgent Republicans.

SpaceX inks deal to launch commercial satellites beginning in 2015

SpaceX signs deal to launch commercial satellites

LOS ANGELES – SpaceX has inked a $492 million deal with Iridium Communications Inc. to launch a fleet of next-generation commercial satellites aboard its Falcon 9 rocket.
The deal, to be announced Wednesday, comes two weeks after Falcon 9 reached orbit on its maiden test flight.
Iridium previously announced plans to … Read more : SpaceX inks deal to launch commercial satellites beginning in 2015.

Heavy rains in Mumbai, all traffic hit

MUMBAI – Heavy rains Wednesday threw life out of gear in Mumbai, seriously affecting rail, road and air traffic. Eight people died in a wall collapse in neighbouring Thane district.

Mumbai got close to 100 mm rains in 12 hours, the India Meteorological Department (IMD) here said.
As rain water flooded the tracks, local trains, …. Original article  : Heavy rains in Mumbai, all traffic hit.

Regulators asked to require more testing for E. coli in meat to help protect US food supply

Regulators consider broadening testing for E. coli

YAKIMA, Wash. – The food industry and government regulators have focused for years on finding the most virulent strain of E. coli bacteria, which has killed hundreds of people and sickened thousands every year.
But they don’t regularly test for six less common E. coli strains that can cause illnesses …. Original article on Gaea Times at  : Regulators asked to require more testing for E. coli in meat to help protect US food supply.

Government convenes ‘emergency meeting’ over Manipur

NEW DELHI – The chief secretaries of Nagaland and Manipur will meet Home Secretary G.K. Pillai Wednesday as some Nagas continued their economic blockade of Manipur even after a section of Naga students told Prime Minister Manmohan Singh that they were calling it off.

Terming the blockade “a matter of serious concern”, the central government called … Read more : Government convenes ‘emergency meeting’ over Manipur.

Local manufacturing makes Dhaka’s river dredging cheaper

DHAKA – Bangladesh’s massive river dredging drive is for the first time using locally manufactured dredgers that are more cost effective and also energy efficient.

Dredge Bangla (Private) Limited has manufactured two dredgers that have been engaged in dredging the river Gorai, which was almost dead due to siltation caused by inadequate flow of water …. Original article on Gaea Times at  : Local manufacturing makes Dhaka’s river dredging cheaper.

A government pilot to identify the country’s poorest

NEW DELHI – The rural development ministry will launch a pilot project across 256 villages next month in a bid to identify the poor under a new set of parameters to be adopted for the BPL (below the poverty line) Census 2011.

The government is giving highest priority to a correct listing of BPL people …. Source  : A government pilot to identify the country’s poorest.

100 trucks with supplies to reach Manipur Saturday

IMPHAL – A convoy of about 100 trucks carrying essentials will roll into Manipur Saturday, where a road blockade has cut off food and medical supplies for more than two months, officials Thursday said.

“We expect the first convoy with food, medicines and fuel to arrive in Manipur by Saturday evening if everything goes according to …. Source  : Gaea News Network.

Public transport grinds to halt in Athens as workers strike to protest social security reforms

Athens public transport grinds to halt amid strike

ATHENS, Greece – Public transport ground to a standstill in Athens Thursday as workers walked off the job for five hours to protest social security reforms that are part of the government’s efforts to pull Greece out of its debt crisis.
Bus, tram and trolley workers were holding a … Read the original article on Gaea Times at : Public transport grinds to halt in Athens as workers strike to protest social security reforms.

Chandigarh hotels, multiplexes go for CCTV

CHANDIGARH – The owners of hotels, restaurants, guest houses, cinemas and multiplexes have been asked to install CCTV cameras in their premises to beef up security.

“District magistrate has issued strict directions to the owners of these places to install CCTV cameras, which should cover entry, exit, reception and parking areas. These orders have been …. Original source  : Chandigarh hotels, multiplexes go for CCTV.

No iPhone, only BlackBerry for British ministers

LONDON – Ministers in the David Cameron government cannot use Apple’s iPhone as only BlackBerry smartphones have been sanctioned for official use.

In a written reply to Labour MP Tom Watson, Health Secretary Simon Burns said ministers in his department have been issued BlackBerrys and that this will be the case for all government departments.
He … Read more »».

Athens public transport grinds to halt as workers strike to protest social security reforms

Public transport grinds to halt in Athens
ATHENS, Greece – Public transport in Athens has ground to a standstill as workers walk off the job for five hours to protest social security reforms that are part of the government’s efforts to pull Greece out of its debt crisis.

Bus, tram and trolley workers were holding a work …. Source  : Gaea News Network.

Indian experts to learn Chinese foodgrain storage methods

NEW DELHI – India will send a team of technical experts to China to study the warehouse construction and foodgrain preservation methods, Minister of State for Agriculture K.V. Thomas said here Thursday.

A delegation led by Thomas had visited China from June 7-11 to study the modern storage facilities in China, its applicability in India for … Read the original article on Gaea Times at : Indian experts to learn Chinese foodgrain storage methods.

World stock markets mixed after Wall Street gives little direction

World stocks mixed after flat Wall Street finish

BANGKOK – World stocks were mixed Thursday amid mild profit-taking in Tokyo and a muted finish on Wall Street as investors absorbed bad news about Europe’s debt problems and the U.S. economy.
Stock markets hovered in a narrow range as investors found little reason to drive the market in …. Original article  : World stock markets mixed after Wall Street gives little direction.

Dependence on e-mails damages trust in business

WASHINGTON – Firing off e-mails and cueing up video conferences speeds up work manifold, but only at the cost of damaging trust, says a new research.

Gregory Northcraft, business professor, University of Illinois says, high-tech communication cuts down the personal interaction needed to build trust, a key ingredient in getting workers to pull together and …. Source  : Dependence on e-mails damages trust in business.

Relying too much on e-mail may be bad for business

WASHINGTON – E-mails and videoconferences might help workers complete tasks more quickly, but they’re not necessarily completing them well, according to a new research.

Gregory Northcraft, a University of Illinois business leadership expert, says high-tech communication strips away the personal interaction … Read more »»».

BP shares open 6.5 percent higher in London after agreement with US to set up oil spill fund

BP shares higher on oil spill fund deal
LONDON – Shares in BP rose in London Thursday, as the company’s agreement to set up a $20 billion fund and cancel dividend payments to cover damage from the Gulf of Mexico oil spill reduced uncertainty over its liabilities.
The shares were up 9.4 percent …. Original article  : BP shares open 6.5 percent higher in London after agreement with US to set up oil spill fund.

EU leaders set to endorse further sanctions against Iran over its nuclear program

EU set to approve new sanctions on Iran
BRUSSELS – EU leaders are set to adopt a new set of sanctions against Iran Thursday in a further effort to stall its disputed nuclear program.

The additional restrictions, due to be approved during a summit focused primarily on economic issues, will target Iran’s oil industry, shipping and air … Read the original article on Gaea Times at : EU leaders set to endorse further sanctions against Iran over its nuclear program.

Prices remain high but India’s food inflation drops a tad

NEW DELHI – India’s annual food inflation fell slightly to 16.12 percent for the week ended June 5 from 16.55 percent for the week before even as prices of milk, lentils and some other commodities remained sharply costlier over a 52-week period.

The drop in the inflation rate was mainly because of a 1.1 percent decline … Read this article on Gaea Times at : Prices remain high but India’s food inflation drops a tad.

AP-GfK poll shows rising support for health care law; Americans still divided on impact

AP-GfK poll shows gains for health care overhaul
WASHINGTON – The patient is alive and kicking. A new Associated Press-GfK poll finds public support for President Barack Obama’s new health care law has risen to its highest point.
The nation remains divided, with 45 percent in favor and 42 percent opposed to the president’s signature … Read more »»».

Stymied by rejection of jobless aid, Democrats turn to bill to increase lending by small banks

Lending by small banks focus of bill in House

WASHINGTON – Democrats are looking to increase lending by small banks as a way to resuscitate their election-year jobs agenda.
The Senate rejected a $140 billion bill Wednesday that would renew pieces of last year’s economic stimulus bill, forcing lawmakers to pare the measure in attempt to round …. Source article on Gaea Times at  : Stymied by rejection of jobless aid, Democrats turn to bill to increase lending by small banks.

Chilly reception from lawmakers expected for BP CEO who says he’s devastated by Gulf oil spill

BP CEO telling Congress he’s ‘devastated’ by spill

WASHINGTON – The chief executive officer of BP expects to tell Congress that he has been “personally devastated” by the explosion of the Deepwater Horizon oil rig and the oil spill in the Gulf of Mexico.
In testimony prepared for a House hearing on Thursday, BP CEO Tony Hayward … Read more »».

South Indian Bank ties up with US bank

TRISSUR – South Indian Bank has tied up with Bank of New York Mellon to facilitate remittances from the US to India.

V.A. Joseph, the bank’s managing director, told IANS that Malayalam superstar Mammootty, the bank’s global brand ambassador, would launch this facility at Kochi Friday.
The South Indian Bank has 580 branches spread across 26 … Read more : South Indian Bank ties up with US bank.

After years of neglect, Israel wakes up to potential of Arab sector

Israel wakes up to potential of Arab sector

NAZARETH, Israel – In the year since he graduated from Israel’s top technical college, Samer Kablawi has sent out over 50 resumes to high-tech companies – and had one interview.
It’s a predicament that may seem typical for young graduates in a world still emerging from recession. But Kablawi … Read more »»».

Shaky Spanish banking system looms over meeting, amid bailout speculation

Troubled banking system, Spain loom over EU summit

BRUSSELS – Looming bank losses and Spain’s troubled government finances are what European Union leaders don’t formally plan to talk about when they sit down for talks on Thursday about how to fix their battered economies and set tighter budget rules.
The potential for banks’ losses on European loans … Original article on : Shaky Spanish banking system looms over meeting, amid bailout speculation.

Contract: Michael Jackson’s doctor requested, never received lifesaving gear from promoter AEG

Contract: Jackson doc requested lifesaving gear

LOS ANGELES – Michael Jackson’s doctor requested but never received lifesaving gear from the concert promoter organizing the singer’s London shows, documents obtained by The Associated Press show.
E-mails and a proposed contract detailing Dr. Conrad Murray’s negotiations with concert promoter AEG Live reveal the requests for a heart resuscitation unit … Read more >>.

Toyota says China car assembly plant operations unaffected by 1-day strike at supplier

Toyota is latest car maker hit by strike in China

SHANGHAI – A brief strike at a parts supplier to Toyota Motor Corp. ended in just a day, the company said Thursday, while a Honda Motor Co. supplier and its workers carried on with wage talks at a factory in southern China.
The labor disputes come amid …. Original source  : Toyota says China car assembly plant operations unaffected by 1-day strike at supplier.

Russia, in need of ‘investment boom,’ to scrap capital gains tax on foreign investment

Russia to scrap profit tax for foreign investors

ST. PETERSBURG, Russia – Russia will scrap the capital gains tax on long-term foreign investment next year in order to create a much-needed “investment boom,” President Dmitry Medvedev told a gathering of foreign businesses Friday.
Medvedev also vowed to loosen the state’s stranglehold on the economy by introducing more … Read more >>>.

Sony CEO gets $8.8 million in annual pay after 2 consecutive annual losses

Sony CEO gets $8.8 million annual pay amid losses

TOKYO – Sony Corp., which has posted two consecutive annual losses, said Friday its chief executive has received around 800 million yen ($8.8 million) in annual pay.
Nearly half of Welsh-born Howard Stringer’s pay came from stock options, said Sony spokeswoman Mami Imada. Stringer’s annual pay in the …. Read the original article  : Sony CEO gets $8.8 million in annual pay after 2 consecutive annual losses.

Reliance AGM Springs No Surprises

MUMBAI, INDIA (GaeaTimes.com)- The industry was abuzz with speculation regarding the 36th AGM of Reliance industries but as it turned out the annual general meeting sprung no major surprise. There was not much of a drama as far as family bonding was concerned. Mukesh Ambani who is the chairman of RIL came to the … Original source on Gaea Times at : Reliance AGM Springs No Surprises.

Reliance Industries to supply natural gas to ADAG plants: Mukesh Ambani

MUMBAI – Reliance Industries Chairman and Managing Director Mukesh Ambani on Friday said his firm will supply natural gas to the Anil Dhirubhai Ambani Group’s power plants as and when they are ready to receive it.

Signaling a healing of the rift between him and his brother Anil, Mukesh told he 36th shareholders meeting: ” The …. Original article  : Reliance Industries to supply natural gas to ADAG plants: Mukesh Ambani.

ITC board recommends issue of 1:1 bonus share

NEW DELHI – Tobacco to hospitality conglomerate ITC
Friday announced issue of one bonus share of Re.1 for every one share held by investors.

In a regulatory filing with the Bombay Stock Exchange, ITC said the board of directors at its meeting Friday recommended issue of bonus shares in the ratio of 1:1.
The … Read this article on Gaea Times at : ITC board recommends issue of 1:1 bonus share.

Russian president scraps capital gains tax on foreign investment to boost economy

Russia scraps gains tax on foreign investors

ST. PETERSBURG, Russia – President Dmitry Medvedev says that starting next year Russia will scrap the capital gains tax on long-term foreign investment in order to attract more investment.
He acknowledges that Russia will need an “investment boom” in order to get its oil-and-gas based economy on track.
Medvedev also told … Read more : Russian president scraps capital gains tax on foreign investment to boost economy.

Obama making quick trip to OH to mark 10,000 road projects _ and to show economy on his mind

Obama dashing to Ohio to keep economy out front
WASHINGTON – Determined to keep showing the economy is on his mind, President Barack Obama is dashing into Ohio for the groundbreaking of a road project, hoping to remind the nation that the massive, costly stimulus act is still churning out jobs.
Millions … Read more >>.

Madhya Pradesh eyes 30,000 Chhattisgarh tourists

RAIPUR – Madhya Pradesh has opened a tourism information centre here in a bid to increase annual tourist arrivals from Chhattisgarh to 30,000 from about 10,000 now, an official said Friday.

The Raipur-based Madhya Pradesh State Tourism Development Corp office will be the company’s seventh centre and the first in Chhattisgarh, which was carved out of …. Source  : Gaea News Network.

China’s growth robust, may slow down: World Bank

BEIJING – China’s economy “continued to grow robustly” in the first half of this year but has shown signs of “some softening” that could slow growth slightly in 2011, the World Bank said Friday.

“We project GDP (gross domestic product) growth of 9.5 percent for 2010 and 8.5 percent for 2011, with risks both ways,” Ardo … Read the original article on Gaea Times at : China’s growth robust, may slow down: World Bank.

India-US-EU initiative on Africa on cards

WASHINGTON – The upcoming G-20 summit in Toronto will see a unique initiative of India, the United States and the European Union working together with Africa to help it move forward on the development path.

The new initiative has resulted from three-way discussions here between US and Indian officials and the Federation of Indian Chambers of …. Original article on Gaea Times at  : India-US-EU initiative on Africa on cards.

Mukesh Ambani assures gas to ADAG group

MUMBAI – Mukesh Ambani, chairman of Reliance Industries, Friday assured gas supplies from the Krishna-Godavari basin to power-generation firms led by younger brother Anil and hoped for “harmonious” ties between the two groups in the future.

“With the legal dispute behind us, we hope for a harmonius and constructive relations with ADAG (Anil Dhirubhai Ambani Group),” … Read more »».

China says yuan exchange rate does not concern any other countries, ahead of Hu trip to G20

China: yuan exchange rate of no concern to others
BEIJING – The main focus of China’s currency policy is the well-being of its people and any adjustment to the exchange rate is not the concern of other countries, government officials said Friday ahead of President Hu Jintao’s trip to next week’s G-20 meeting.
The gathering …. Original article on Gaea Times at  : China says yuan exchange rate does not concern any other countries, ahead of Hu trip to G20.

Reconciliation is the word in Bangkok, but indulgent parties don’t ease anxiety below surface

Bangkok parties on surface, but unease hides below

BANGKOK – Tycoons and streetside vendors scrabble to recoup crushing losses. Bangkok’s pampered, golden set is again partying like there’s no tomorrow. And in the sprawling slums, among the poorest of the poor, there is an uncommon mingling of pride, hope – and fear.
Just a month after thousands …. Original source  : Reconciliation is the word in Bangkok, but indulgent parties don’t ease anxiety below surface.

Sony CEO gets $8.8 million in annual pay despite 2 consecutive annual losses

Sony CEO gets $8.8 million pay despite losses

TOKYO – Sony Corp. which has posted two consecutive annual losses, says its Chief Executive Howard Stringer has received around 800 million yen ($8.8 million) in annual pay.
Sony spokeswoman Mami Imada said Friday the Welsh-born CEO’s pay in the financial year to March 2010 included stock options. The … Read more : Sony CEO gets $8.8 million in annual pay despite 2 consecutive annual losses.

Kangra Tea is set for another bloom

PALAMPUR – The aroma of tea is going to waft across the picturesque Kangra valley once again, with fresh stimulus from the central and state governments to revive the over 150-year-old tea industry in the region.

“We are going to revive the Kangra tea industry in a big way by encouraging growers to rejuvenate and expand …. Original article on Gaea Times at  : Kangra Tea is set for another bloom.

Scandal-linked resignation of Australian retail company’s CEO sends share price diving

Australian retail CEO quits amid scandal
SYDNEY – The chief executive of upmarket Australian department store company David Jones abruptly resigned on Friday after revealing he had acted inappropriately toward a female staff member.

Although leaving under a cloud, David Jones chairman Robert Savage said CEO Mark McInnes would receive almost Australian dollars 2 million ($1.7 million) … Read : Scandal-linked resignation of Australian retail company’s CEO sends share price diving.

World Bank report says China’s economy shows signs of softening, though still strong

World Bank says China’s economy slowing
SHANGHAI – China’s economy is showing signs of softening after its strong stimulus-fueled rebound last year, the World Bank says in its latest quarterly update.

Industrial production and other key indicators show the pace of growth moderating albeit remaining relatively strong, supported by real estate investment and a recovery in export … Original article on : World Bank report says China’s economy shows signs of softening, though still strong.

Oil extends losses in Asia but holds above $76 amid concerns over US economic recovery

Oil extends losses in Asia on US growth concerns

KUALA LUMPUR, Malaysia – Oil prices extended losses but held above $76 a barrel Friday in Asia as weak U.S. economic data sparked renewed concerns that demand for crude may slow.
Benchmark crude for July delivery was down 48 cents to $76.31 a barrel at late afternoon Kuala …. Source article  : Oil extends losses in Asia but holds above $76 amid concerns over US economic recovery.

New Zealand lawmaker claims Chinese security attacked him during protest over Tibet

NZ lawmaker claims Chinese security attacked him
WELLINGTON, New Zealand – A New Zealand lawmaker accused the Chinese vice president’s security staff of pushing him, hitting him with an umbrella and tearing from his grasp a Tibetan flag during his one-man protest Friday.
Green Party co-leader Russel Norman says the clash occurred on the … Read the original article on Gaea Times at : New Zealand lawmaker claims Chinese security attacked him during protest over Tibet.

Shaun Micheel captures share of US Open lead while playing with dying mother on his mind

Micheel plays Open with dying mom on his mind

PEBBLE BEACH, Calif. – Shaun Micheel will drop his clubs and walk right out of this U.S. Open if his dying mother needs him by her side back home in Memphis.
It won’t matter where he sits on the leaderboard – or where he is.
While Micheel doesn’t think …. Original article on Gaea Times at  : Shaun Micheel captures share of US Open lead while playing with dying mother on his mind.

Sensex climbs almost 3 percent amid global rally (Weekly market review)

MUMBAI – Indian equities markets rose in tandem with global bourses in the week gone by, with a benchmark index rising almost 3 percent from its previous weekly close as investors across the globe continued to buy on hopes that there would not be another full-blown financial crisis, this time triggered by Europe.

The 30-share sensitive …. Read the original article  : here.

Goa’s tourism image needs to be rebuilt: Official

PANAJI – The image of Goa has taken a beating in the tourism circuits following the incidents of crimes against foreign female tourists and only a professional public relations agency can rectify the damage, a senior tourism trade official said Saturday.

Gaurish Dhond, the newly appointed president of the Travel and Tourism Association of Goa … Original source on Gaea Times at : Goa’s tourism image needs to be rebuilt: Official.

No taxes for multiplexes in Himachal

SHIMLA – Himachal Pradesh will exempt multiplexes from paying entertainment duty to attract such investors, an official said here Saturday.

“The cabinet Friday gave its nod to exempt multiplexes coming into commercial operations between May 26, 2007 and May 25, 2012 from payment of entertainment duty,” a government spokesperson said.
He said the exemptions have been …. Original article on Gaea Times at  : No taxes for multiplexes in Himachal.

Obama asks G-20 leaders to boost reforms for recovery

WASHINGTON – US President Barack Obama has urged the world’s top 20 economies to work together to boost reforms and take aggressive actions to repair the worst global financial crisis since the 1930s.

In a letter released Friday ahead of the June 26-27 G-20 summit in Toronto, Obama told the leaders of the world’s top economies … Original source on Gaea Times at : Obama asks G-20 leaders to boost reforms for recovery.

British government staff work less, earn more

LONDON – British government employees spend nine years less at work than their private sector counterparts in their lifetime but earn 30 percent more, a new study has revealed.

Workers of public sector firms enjoy better pay than those in the private sector, as well as better pensions, shorter working hours, and earlier retirement, according to … Read : British government staff work less, earn more.

Anadarko angrily points finger at BP on Gulf well explosion, oil spill; hints at legal action

Anadarko points finger at BP on Gulf oil spill

HOUSTON – Anadarko Petroleum Corp., which owns a quarter of BP PLC’s blown-out oil well in the Gulf of Mexico, late Friday blasted BP “reckless decisions and actions” that led to the well’s explosion.
Anadarko Chairman and CEO Jim Hackett’s statement came after some elected officials said Anadarko … Read more >>>.

Friday is final furlough day for Calif. state workers, unless governor orders more

Friday is final furlough for Calif. state workers

SACRAMENTO, Calif. – State employees who were forced to take unpaid days off because of a budget crisis had what they hoped would be their final furlough day on Friday, but Gov. Arnold Schwarzenegger indicated he might consider layoffs and more furloughs in the future.
“The longer we go [..] Read the original article: here.

Regulators shut down Nevada bank, making for 83rd bank failure this year in US

Regulators close Nev. bank for 83rd failure in ‘10

WASHINGTON – Regulators on Friday shut down a Nevada bank, raising to 83 the number of U.S. bank failures this year.
The Federal Deposit Insurance Corp. took over Nevada Security Bank, based in Reno, with $480.3 million in assets and $479.8 million in deposits. Umpqua Bank, based in …. Original article  : Regulators shut down Nevada bank, making for 83rd bank failure this year in US.

Federal authorities preparing to interview NFLPA employees in collusion probe, AP confirms

NFLPA employees to be interviewed in federal probe

The NFL Players Association has been advised that federal authorities are preparing to interview employees in an investigation into whether former union leaders attempted to collude with the NFL, a person familiar with an e-mail sent to union staff has told The Associated Press.
The e-mail, sent by the …. Source article on Gaea Times at  : Federal authorities preparing to interview NFLPA employees in collusion probe, AP confirms.

Hamlin still thinks NASCAR throws questionable debris cautions

Hamlin not backing off show business claim

SONOMA, Calif. – Denny Hamlin did not back off last week’s insinuation that NASCAR sometimes calls caution for debris just to liven up a race.
Hamlin led by almost 10 seconds last week at Michigan when NASCAR called a debris caution with 15 laps remaining. Although he still won the … Read more : Hamlin still thinks NASCAR throws questionable debris cautions.

Going for 3?: Lakers wait to learn Phil Jackson’s future plans after 2nd NBA title

Jackson’s decision weighs on Lakers’ 3-peat hopes

LOS ANGELES – The two-time NBA champion Los Angeles Lakers’ most important free agent this summer is a 64-year-old former forward with two bad knees, two artificial hips and two more championships than any coach in NBA history.
When Phil Jackson reveals his plans for the future next week, presumably … Original source on Gaea Times at : Going for 3?: Lakers wait to learn Phil Jackson’s future plans after 2nd NBA title.

NHL competition committee recommends new penalty for hits to the head

Competition committee recommends head hit penalty

TORONTO – The NHL’s competition committee recommended that the league’s referees will be given the power to hand out major penalties for hits to the head next season.
The 10-man group on Friday agreed on the new penalty during a meeting at the NHL’s Toronto office on Friday and passed it …. Original article on Gaea Times at  : NHL competition committee recommends new penalty for hits to the head.

Mo. Gov. calls special session for Ford incentives, Claycomo workers fear future of plant

Mo. Gov. calls special session for Ford incentives

JEFFERSON CITY, Mo. – Missouri Gov. Jay Nixon is shopping for a Ford.
The governor ordered lawmakers back for a special session starting Thursday to consider millions in tax incentives and pension plan changes to entice the automaker to keep its Kansas City-area plant producing.
The union at the Claycomo …. Source article on Gaea Times at  : Mo. Gov. calls special session for Ford incentives, Claycomo workers fear future of plant.

Summary Box: Interest rates turn higher as rising stocks ease demand for Treasurys

Summary Box: Rates rise as stocks end week higher

RATES RISE: A rising stock market eased demand for safer investments, sending Treasurys lower and interest rates higher.
GOLD DRIVES STOCKS: Stocks rose as gold prices hit another record and boosted shares of mining companies. The Dow Jones industrial average rose 16 points and ended the week up …. Source article  : Summary Box: Interest rates turn higher as rising stocks ease demand for Treasurys.

Dow Jones industrial average posts its biggest two-week gain since last November

Stocks post biggest two-week gain since November

NEW YORK – Here’s something for investors beaten down by the market’s sharp declines this spring: The Dow Jones industrial average just had its best two weeks since November.
The Dow’s gain of 16 points on Friday was relatively modest, but it capped a surge of 5.2 percent over the …. Original article on Gaea Times at  : Dow Jones industrial average posts its biggest two-week gain since last November.

Former F1, Indy champ Villeneuve racing at Road America, seeking return to full-time racing

Ex-F1, Indy champ Villeneuve seeks full-time ride

ELKHART LAKE, Wis. – Jacques is back – at least for this weekend.
Canadian racing standout Jacques Villeneuve’s star has faded since he won the 1997 Formula One championship and the 1995 Indianapolis 500. He’ll be racing in the NASCAR Nationwide series at Road America this weekend and is hoping …. Original article on Gaea Times at  : Former F1, Indy champ Villeneuve racing at Road America, seeking return to full-time racing.

Jury in Fla. awards $2.4M in damages in nation’s first trial over defective Chinese drywall

Jury awards $2.4M in first Chinese drywall trial

MIAMI – A Florida couple who fled their dream home because of foul-smelling, ruinous Chinese drywall was awarded $2.4 million in damages Friday in the nation’s first jury trial over the defective wallboard that could have legal ramifications for thousands of similar cases.
The six-person jury ruled that Armin … Read more >>.

Montana says unemployment rate up slightly in May, while extended benefits run dry

Montana unemployment up, but extended benefits end

HELENA, Mont. – State officials said Friday that the unemployment rate ticked up to 7.2 percent in May, and announced that extended benefits would be ending for many people who are out of work.
More than 1,000 people had been receiving special extended unemployment benefits, some for as long as … Original article on : Montana says unemployment rate up slightly in May, while extended benefits run dry.

TransAlta promotes a vice president to be its next chief financial officer

TransAlta names new chief financial officer

NEW YORK – Canadian power plant operator TransAlta Corp. said Friday it has promoted Brett Gellner, the company’s vice president for commercial operations, to chief financial officer.
He succeeds Brian Burden, 54, who is retiring. The company said Burden will remain with the company through Sept. 30 to help with the …. Source  : Gaea News Network.

CNB Financial gets $32.1M net proceeds in stock sale to fund capital reserve, expansion

CNB Financial nets $32.1M in stock offering

CLEARFIELD, Pa. – CNB Financial Corp. on Friday said it raised about $32.1 million after expenses through an offering of 3.4 million of its common shares.
The parent of CNB Bank and Eriebank said it sold the stock at $10.25 per share. The net proceeds deducted underwriting discounts, commissions and …. Original article  : CNB Financial gets $32.1M net proceeds in stock sale to fund capital reserve, expansion.

Philippine military acknowledges it will not meet June 30 deadline to crush communist rebels

Philippines fails to meet deadline to crush rebels

MANILA, Philippines – The Philippine military acknowledged Sunday that it could not meet a deadline this month to eradicate a decades-old communist rebellion but said offensives have whittled the strength of the insurgents to a historic low.
President Gloria Macapagal Arroyo had ordered troops to crush the Maoist rebellion …. Original article on Gaea Times at  : Philippine military acknowledges it will not meet June 30 deadline to crush communist rebels.

High credit and raw material costs affecting small firms: CII

NEW DELHI – High costs of credit and procurement of raw materials are the major factors inhibiting the growth of small and medium enterprises, a survey has found.

The Confederation of Indian Industry (CII) said 79 percent of the micro, small and medium enterprises (MSMEs) surveyed said high cost of credit was a problem. … Read more : High credit and raw material costs affecting small firms: CII.

Exchange rate woes, Euro zone crisis may hit exporters: FICCI

NEW DELHI – A fluctuating exchange rate, the debt crisis in Europe, rising input costs and a possible interest rate hike by the Reserve Bank of India may hit Indian exports, says a report by a leading industry lobby.

“Exporters were caught off guard by the recent decline in the value of the rupee and …. Source  : Gaea News Network.

China says no major change expected in exchange rate following move toward greater flexibility

China says no major changes in exchange rate
BEIJING – China’s central bank said Sunday it would maintain a stable exchange rate and didn’t anticipate major changes in the value of the yuan, a day after saying it would manage the currency more flexibly.
In a commentary on Saturday’s announcement, the People’s Bank of China … Read the original article on Gaea Times at : China says no major change expected in exchange rate following move toward greater flexibility.

Himalayan tunnel will be engineering marvel

NEW DELHI – The foundation of the Rohtang tunnel – expected to be the world’s longest tunnel at over 13,000 ft – will be laid June 28, paving the way for round-the-year road access to India’s strategic Ladakh region in Jammu and Kashmir which otherwise remains cut off by snow for half the year.

The 8.8 …. Source  : Gaea News Network.

Government cracks whip on misuse of industrial plots

NEW DELHI – Cracking the whip on increasing misuse of industrial plots, the Delhi government has cancelled allotment of land to three industrial units located in Bawana and Narela areas of the capital.

The cancellation was made on the recommendation of the Delhi State Industrial and Infrastructure Development Corporation (DSIIDC), said an official statement Sunday.
The …. Source  : Government cracks whip on misuse of industrial plots.

China’s move to allow more exchange rate flexibility criticized at home, praised overseas

Chinese criticize move to loosen exchange rate
BEIJING – China’s move to make its currency exchange rate more flexible was criticized at home Sunday after being widely welcomed abroad.
The announcement by the central bank on Saturday suggested a possible break from the yuan’s two-year peg to the U.S. dollar – a major …. Source  : Gaea News Network.

Chinese tourists to Taiwan set to top one million in 2010

BEIJING – The number of Chinese tourists travelling to Taiwan is expected to reach one million in 2010 after the January-May figure shot up 90 percent compared with the corresponding period last year, an official said Sunday.

Wang Yi, head of the State Council’s Taiwan Affairs Office, said about 660,000 Chinese tourists travelled to Taiwan in …. Source  : Gaea News Network.

10 percent growth for decade will minimise poverty: Godrej

PANAJI – A consistent 10 percent Gross Domestic Product (GDP) growth spread over a decade will greatly reduce poverty in India, says leading industrialist Jamshyd Godrej.

“A 10 percent growth will help to largely reduce poverty in India in a decade’s time,” Godrej, chairman and managing director of Godrej and Boyce Manufacturing Co Ltd., told …. Read the original article  : 10 percent growth for decade will minimise poverty: Godrej.

‘Increase cess on mining; granting of leases should be transparent’

PANAJI – The cess on mining needs to be increased significantly and the revenue generated should be earmarked for development of infrastructure in specific areas where mineral exploration is being carried out, industrialist Jamshyd Godrej has said.

Speaking to IANS on the sidelines of the annual general body meeting of the Goa Chamber of Commerce and … Read more »».

Direct Tax Code proposal has welcome respite for individuals (Special)

Many suggestions were made in response to the draft Direct Tax Code on issues impacting individuals. It is quite encouraging many of the suggestions have been incorporated in what the finance ministry calls the revised discussion paper on the code.

Most of the working class individuals make investments in one or more of the long-term saving … Read more : Direct Tax Code proposal has welcome respite for individuals (Special).

‘Scrap subsidies on petroleum, coal-based energy resources’

PANAJI – Leading industrialist Jamshyd Godrej has called for a paradigm shift in India’s approach vis-a-vis tax and subsidy structures related to petroleum and coal-based energy resources.

Speaking to IANS on the sidelines of the annual general body meeting of the Goa Chamber of Commerce and Industry Saturday, Godrej, a special invitee at the do, … Read more »».

Hong Kong publisher halts alleged Tiananmen memoirs by former premier

Hong Kong publisher halts Tiananmen memoirs

HONG KONG – A Hong Kong publisher said he has scrapped plans to publish an alleged insider account of Beijing’s decision-making behind the 1989 Tiananmen Square crackdown because of copyright problems.
Bao Pu said Sunday he had planned to release the alleged memoirs of former premier Li Peng in this semiautonomous …. Source  : Hong Kong publisher halts alleged Tiananmen memoirs by former premier.

Defensive lineman Richard Seymour signs $12.4 million franchise tag with Raiders

DL Seymour signs $12.4M franchise tag with Raiders

ALAMEDA, Calif. – Defensive lineman Richard Seymour signed his $12.4 million exclusive franchise tag tender with the Oakland Raiders on Saturday.
The move means all of the Raiders’ veterans are under contract for next season. The team announced the signing on its website, adding that the process of signing … Original source on Gaea Times at : Defensive lineman Richard Seymour signs $12.4 million franchise tag with Raiders.

Protest over power cuts turns deadly in Iraq, underscoring rising anger over lack of services

Anger over power cuts leads to violence in Iraq

BAGHDAD – A protest over electricity shortages in oil-rich southern Iraq turned deadly when police opened fire to disperse the crowd on Saturday, killing one protester in a melee that warned of growing anger over the government’s failure to provide basic services.
More than 3,000 protesters marched through …. Original source  : Protest over power cuts turns deadly in Iraq, underscoring rising anger over lack of services.

Dubai Economic Forum to open in Seoul Monday

Seoul, June 19 (IANS/WAM) About 70 Korean businessmen will attend the Dubai Economic Forum that begins here June 21.

A high-powered economic delegation led by Ahmad Dhaen Al Qamzi, director general of the Dubai government’s department of finance, will arrive here Sunday to participate in the forum.
More than 70 Korean businessmen from 48 local … Original article on : Dubai Economic Forum to open in Seoul Monday.

Anadarko debt downgraded after BP on Gulf well explosion

Anadarko downgraded after BP Gulf oil spill

NEW YORK – Anadarko Petroleum Corp., which owns a quarter of BP PLC’s blown-out oil well in the Gulf of Mexico, had its debt downgraded late Friday amid a heated dispute over BP’s operation of the well.
Moody’s Investor Services downgraded Anadarko long term debt, and placed the company’s ratings …. Original source  : Anadarko debt downgraded after BP on Gulf well explosion.

France, Russia vow to make G-20 a leading voice in global decision making

France, Russia vow to promote global role of G-20

ST. PETERSBURG, Russia – French President Nicolas Sarkozy said Saturday that he wanted to work with Russia to give developing nations a larger say in how to regulate the global economy.
Global financial institutions such as the World Bank and International Monetary Fund – created at the Bretton … Read the original article on Gaea Times at : France, Russia vow to make G-20 a leading voice in global decision making.

Ordinance declares ULIPs life insurance product

NEW DELHI/CHENNAI – Delivering a knock out punch to the Securities Exchange Board of India (SEBI), the government through a ordinance issued late Friday, has unequivocally declared that unit linked insurance policies (ULIPs) are part of the life insurance business.

SEBI had April 9 banned 14 life insurers from selling unit-linked insurance products.
Sensing …. Source  : Ordinance declares ULIPs life insurance product.

China says it will allow more exchange rate flexibility, but no large-scale appreciation

China to allow more exchange rate flexibility
BEIJING – President Barack Obama welcomed China’s announcement Saturday that it will allow a more flexible exchange rate for its currency, saying it would help protect the economic recovery.
The announcement by China’s central bank suggested a possible break from the yuan’s two-year …. Read the original article  : China says it will allow more exchange rate flexibility, but no large-scale appreciation.

China’s yuan gains, though Beijing says more currency flexibility won’t rebalance world growth

Yuan gains but China warns it won’t fix economy

SHANGHAI – China followed through Monday on its pledge to allow greater flexibility in exchange rates, but said an appreciation in its currency alone could not rebalance world growth as it urged world leaders to carry out more fundamental reforms.
By late Monday, the yuan was trading at …. Read the original article  : China’s yuan gains, though Beijing says more currency flexibility won’t rebalance world growth.

JetBlue Airways adopts Kerala IT company’s solution

THIRUVANANTHAPURAM – City-based IBS Software Services has inked a deal with JetBlue Airways under which it will provide web-based solution to the American low cost airline to manage its cargo operations.

Built on new generation technology, IBS’s iCargo solution is designed to handle the cargo movement of freighters, passenger and cargo carriers, ground handling agents …. Source  : JetBlue Airways adopts Kerala IT company’s solution.

Oil jumps above $78 in Asia as traders expect stronger yuan to boost demand

Oil jumps above $78 as China lifts currency peg

SINGAPORE – Oil prices jumped above $78 a barrel Monday in Asia as China’s move to end its two-year peg to the dollar boosted investor confidence.
Benchmark crude for July delivery was up $1.25 to $78.43 a barrel at late afternoon Singapore time in electronic trading on the …. Original article on Gaea Times at  : Oil jumps above $78 in Asia as traders expect stronger yuan to boost demand.

Delhi clears hike in auto, taxi fares

NEW DELHI – People in the national capital will have to shell out more for auto and taxi fares, with the Delhi government Monday clearing the proposal in this regard. The revised fares will be announced in a day or two.

Delhi Chief Minister Sheila Dikshit announced the fare hike after the cabinet meeting [..] Read the original article: here.

Russia cuts off gas to Belarus

Moscow, June 21 (IANS/RIA Novosti) Russia has begun cutting gas supplies to Belarus after a dispute over unpaid bills, a senior official said Monday.

State-controlled Gazprom has begun cutting gas flow to Belarus on President Dmitry Medvedev’s orders, gas monopoly chief executive officer Alexei Miller said.
“Belarus acknowledges the gas debt, but has offered to [..] Read the original article: here.

Sensex 339 points up in afternoon trade

MUMBAI – A benchmark index for Indian equities Monday built on early gains and was trading 339 points higher in afternoon trade on positive cues from other Asian markets which rose after China announced that it will move towards a flexible currency.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened … Read more »».

India, Bangladesh to set up ‘border haats’ for trade

AGARTALA – India and Bangladesh will soon set up ‘haats’ (markets) along their international border in the northeast to boost local business and trade between the two neighbours, officials said here Monday.

Two ‘border haats’ would be set up along the Indo-Bangla border in Meghalaya while eight such ‘haats’ would be established along Tripura’s border with … Read this article on Gaea Times at : India, Bangladesh to set up ‘border haats’ for trade.

CBS and Anil Ambani’s Reliance Broadcast Network in talks to launch Indian TV joint venture

CBS and Reliance plan to launch Indian TV channels

MUMBAI, India – A unit of CBS Corp. and Reliance Broadcast Network, a subsidiary of India’s powerful Reliance-ADA Group, plan to launch television channels in India together, Reliance said.
The joint venture is a first for both CBS Studios International and Reliance Broadcast Network, known until last week …. Source article on Gaea Times at  : CBS and Anil Ambani’s Reliance Broadcast Network in talks to launch Indian TV joint venture.

Maytas Infra touches 52-week high on stake sale news

MUMBAI – The Maytas Infra scrip Monday touched a 52-week high on news that the infrastructure company is selling 20 percent stake to the Saudi Binladin Group (SBG) via a preferrential allotment of shares.

“The company proposes to issue and allot to SBG Projects Investments Ltd. (a member of the Saudi Binladin Group) 15,459,133 equity …. Source  : Maytas Infra touches 52-week high on stake sale news.

Russia’s president orders cuts in gas supplies to Belarus over debt

Russia cuts gas supplies to Belarus over debt

MOSCOW – Russia on Monday cut natural gas supplies to ex-Soviet neighbor Belarus over what it claims is a debt of nearly $200 million for gas already provided.
President Dmitry Medvedev met early Monday with Alexei Miller, the chief of state-controlled gas monopoly Gazprom, and in televised remarks ordered … Read the original article on Gaea Times at : Russia’s president orders cuts in gas supplies to Belarus over debt.

Jerusalem moving ahead with plan to raze 22 Palestinian homes in contested eastern sector

Jerusalem plan would raze 22 Palestinian homes

JERUSALEM – Jerusalem’s mayor is moving ahead with a construction plan that would involve razing 22 Palestinian homes in the city’s contested eastern sector.
Mayor Nir Barkat says the plan will provide a much-needed facelift for Jerusalem’s decaying al-Bustan neighborhood, which Israel calls King’s Garden. He says the 22 homes, …. Original article  : Jerusalem moving ahead with plan to raze 22 Palestinian homes in contested eastern sector.

Agra heat fails to deter tourists

AGRA – Despite the heat wave that has sent day temperatures soaring to 40-45 degrees Celsius, there is no marked drop in the tourist inflow into the Taj city.

“This time of the year, it’s the Indian tourists — students, pilgrims from Char Dham Yatra and Ajmer Urs, and the budget traveller — who take advantage …. Original article on Gaea Times at  : Agra heat fails to deter tourists.

Report: Iran bans 2 IAEA inspectors from entering Iran

Iran bans 2 IAEA inspectors from entering Iran

TEHRAN, Iran – A state media report says Iran has banned two U.N. nuclear inspectors from entering the country.
The report posted Monday on the Web site of the state broadcasting company quotes Ali Akbar Salehi, head of Iran’s nuclear department, as saying the Vienna-based International Agency for Atomic … Read more >>>.

Trade, investment top India-US CEOs Forum agenda

WASHINGTON – Trade, investment, and an easier visa regime are expected to be the key focus as Indian and US policymakers and corporate leaders meet here Tuesday to discuss how to enhance their business ties.

India’s Finance Minister Pranab Mukherjee leads the high-powered team of policymakers including Commerce Minister Anand Sharma and Planning Commission Deputy Chairman … Read : Trade, investment top India-US CEOs Forum agenda.

Human Rights Watch calls for Zimbabwe to be removed from diamond oversight body for its abuses

Rights group calls to halt Zimbabwe diamond trade

JERUSALEM – A leading international human rights group called on the global diamond industry’s oversight body on Monday to remove Zimbabwe from its ranks because of alleged illicit trading and abuses in its diamond fields.
The New York-based Human Rights Watch said its researchers have found evidence of forced …. Original article  : Human Rights Watch calls for Zimbabwe to be removed from diamond oversight body for its abuses.

China says its new flexibility on the yuan won’t rebalance world economic growth

China: Flexible yuan won’t rebalance world economy

SHANGHAI – China says plans to allow greater flexibility in its currency are in line with its own interests but will do little to rebalance world growth without a fundamental overhaul of global financial systems.
The announcement Saturday by China’s central bank that it is giving up a two-year-old peg … Read more >>.

Money Market Operations as on June 18, 2010

…. Original source  : Money Market Operations as on June 18, 2010.

Metro train connecting Delhi, Gurgaon starts

GURGAON – The metro rail service on the New Delhi-Gurgaon route started Monday morning, ending the long wait of commuters for an effective transport system connecting the national capital and its satellite town.

The first metro trains began from Qutub Minar in south Delhi and the HUDA City Centre in Gurgaon simultaneously at 8 a.m.
Staff … Read the original article on Gaea Times at : Metro train connecting Delhi, Gurgaon starts.

China exchange rate unchanged after central bank applies greater flexibility for the yuan

China exchange rate unchanged after yuan news

SHANGHAI – The official exchange rate for China’s currency stood unchanged Monday morning in line with the central bank’s warning the value of the yuan would not dramatically rise after its two-year peg to the dollar ended.
The central bank left the yuan’s parity rate against the U.S. dollar unchanged … Original article on : China exchange rate unchanged after central bank applies greater flexibility for the yuan.

Asian stocks rise after China announced the end of its 2-year-old peg to the dollar

Asian stocks up after China currency announcement

SHANGHAI – Asian stock markets surged Monday as investors took heart from China ending its currency’s two-year peg to the dollar, and the yuan surged in spot trading.
By midafternoon, the yuan was quoted at 6.8095 to the U.S. dollar, up from Friday’s close of 6.8272. But a 0.5 percent …. Source article  : Asian stocks rise after China announced the end of its 2-year-old peg to the dollar.

Lights go out at ‘Jimmy Kimmel Live’ taping, Kimmel tapes show on laptop with computer webcam

Lights go out at ‘Jimmy Kimmel Live’ taping

LOS ANGELES – Jimmy Kimmel wasn’t going to let a little power outage stop the taping of his show.
Show publicist Chelsea Hettrick says the lights went out Monday night about an hour before ABC’s “Jimmy Kimmel Live” was set to begin taping at its Hollywood studio. She says …. Source article on Gaea Times at  : Lights go out at ‘Jimmy Kimmel Live’ taping, Kimmel tapes show on laptop with computer webcam.

German business confidence posts surprise rise in June despite debt crisis

German business confidence rises unexpectedly

BERLIN – A report shows Germany’s business confidence rose unexpectedly in June as the country continues to emerge from its economic downturn.
The closely-watched Ifo business climate index released Tuesday rose to 101.8 points from 101.5 points in May.
Analysts had been expecting a slight decline.
Hans Werner Sinn, president of the Munich-based group, …. Source  : Gaea News Network.

Italians declare 97 bn euros stashed off-shore

Rome, June 22 (IANS/AKI) Italians who stashed money in off-shore bank accounts declared 97 billion euros in the last eight months since the government announced amnesty for tax evaders.

Under a tax-evasion amnesty between September 2009 and April this year, Italians have disclosed their hidden off-shore funds worth 97 billion euros, the Bank of Italy said …. Source  : Gaea News Network.

World stock markets mostly down as Europe woes overshadow China’s yuan move

World stocks down as Europe woes overshadow yuan

SINGAPORE – World stock markets mostly fell Tuesday as renewed concern about Europe’s debt crisis overshadowed the initial enthusiasm over China’s decision to let its currency rise.
Investor sentiment was undermined after Fitch downgraded its debt rating on BNP Paribas SA – the largest bank in the eurozone by …. Original source  : World stock markets mostly down as Europe woes overshadow China’s yuan move.

Auto, taxi fares hiked in Delhi

NEW DELHI – The Delhi government Tuesday announced a steep hike in auto and taxi fares. For autos, commuters will now have to pay Rs.19 for the first two kilometres and Rs.6.50 for each subsequent kilometre.

The fare for black and yellow cabs has been hiked to Rs.20 for the first kilometre and Rs.11 for …. Original article  : Auto, taxi fares hiked in Delhi.

Spanish Parliament to vote on labor market reforms; Obama rings Zapatero to express support

Spanish Parliament votes on labor reforms
MADRID – Spanish parliamentarians are to vote on labor market reforms the government says are crucial to bringing down the country’s soaring 20 percent unemployment rate.
The reforms, which ease hiring and firing regulations, are to be approved or rejected in an afternoon session Tuesday.
The package follows an austerity …. Source article  : Spanish Parliament to vote on labor market reforms; Obama rings Zapatero to express support.

L&T bags orders worth Rs.827 crore

MUMBAI – Engineering and construction major Larsen and Turbro (L&T) Tuesday said its thermal power plant business unit has bagged two orders worth Rs.827 crore from GVK Power and the Chinese firm SEPCO for their power plant projects.

The order from GVK Power valued at Rs.602 crore is for construction, including certain electrical and …. Source  : Gaea News Network.

Industrial workers protest closures in Dhaka

DHAKA – More than 30 people were injured in continuing clashes in Ashulia Industrial Area in suburban Dhaka Tuesday morning as workers protested the closure of factories by employers.

The workers are protesting against the decision of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) to close all apparel units in Ashulia for an indefinite period.
In … Read : Industrial workers protest closures in Dhaka.

Orissa to renew MoU with POSCO

BHUBANESWAR – The Orissa government is likely to renew its pact with South Korean Pohang Steel company (POSCO) to set up a $12 billion project in the state, which expired Tuesday, with some modifications.

POSCO had signed a memorandum of understanding June 22, 2005 for a 12 million tonne steel plant near the port town of …. Source article  : Orissa to renew MoU with POSCO.

Air India to fly direct daily between Melbourne and Delhi

MELBOURNE – Air India will fly daily direct services between Melbourne and Delhi in a significant move that will strengthen trade and cultural ties between Australia’s Victoria state and India.

Premier John Brumby and Industry and Trade Minister Jacinta Allan Tuesday signed a deal with Air India to fly daily direct services between Melbourne and …. Read the original article  : Air India to fly direct daily between Melbourne and Delhi.

Jerry Brown’s campaign tale of frugality overlooks his $1.8 million home, with view of SF Bay

Brown’s tale of frugality omits $1.8 million home

SACRAMENTO, Calif. – When he takes to the campaign trail, Jerry Brown is fond of reminding voters that he shunned the governor’s mansion in Sacramento in favor of a rented apartment during his first tour in the executive office and lived in a downtown loft in Oakland while …. Source article  : Jerry Brown’s campaign tale of frugality overlooks his $1.8 million home, with view of SF Bay.

US-Japan security alliance strained by base decision, other pressures on its 50th anniversary

US-Japan security pact turns 50, faces new strains
TOKYO – Uncertainty over a Marine base and plans to move thousands of U.S. troops to Guam are straining a post-World War II security alliance Japan and the United States set 50 years ago, but Tokyo’s new leader said Tuesday he stands behind the pact.
Prime … Read more »».

Chinese yuan edges lower against dollar, showing flexible exchange rates move both ways

China’s more flexible yuan edges down vs. dollar

SHANGHAI – Proving that flexibility is a two-way street, the Chinese yuan edged lower against the U.S. dollar in spot trading Tuesday, a day after surging to a new high following the central bank’s decision to let the currency trade in a wider range.
By early afternoon, the yuan …. Source article on Gaea Times at  : Chinese yuan edges lower against dollar, showing flexible exchange rates move both ways.

AP sources: Obama announcing new details of how health overhaul law will be enforced

AP sources: Obama revealing health law details
WASHINGTON – President Barack Obama is revealing details of how the government will enforce the health overhaul law, an announcement expected to focus on how insurance companies must treat consumers.
Administration officials were meeting privately Tuesday at the White House with insurance company CEOs and state …. Source  : Gaea News Network.

Sensex in red after Chinese currency euphoria dampens

MUMBAI – A benchmark index for Indian equities was trading in the red Tuesday as traders booked profits after a 300-point rise the day before and the global euphoria over China’s move towards a flexible currency died down.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,868.12 points, was ruling … Read more >>.

Delhi’s new Terminal 3 will have 78 aerobridges, 35 escalators

NEW DELHI – The humongous new Terminal 3 of the Indira Gandhi International Airport that opens July 3 will have all the amenities for passenger travel comfort, including the highest number of aerobridges in the world at a single site – 78. It is almost eight times more than what the present international terminal has. … Read more >>>.

Asian stock markets mostly down as Europe woes overshadow China’s yuan move

Asia stocks down as Europe woes overshadow yuan

SINGAPORE – Asian stock markets mostly fell Tuesday as renewed concern about Europe’s debt crisis overshadowed the initial enthusiasm over China’s decision to let its currency rise.
Investor sentiment was undermined after Fitch downgraded its debt rating on BNP Paribas SA – the largest bank in the eurozone by …. Source article  : Asian stock markets mostly down as Europe woes overshadow China’s yuan move.

Minnesota nurses authorize open-ended strike on 14 Minneapolis-area hospitals

Minn. nurses approve second strike at 14 hospitals

MINNEAPOLIS – Minnesota nurses who walked out for one day earlier this month voted overwhelmingly Monday to authorize an open-ended strike on 14 hospitals in the Minneapolis-St. Paul area.
The Minnesota Nurses Association said 84 percent of nurses voted yes to authorize the longer strike. The union needed at …. Source  : Gaea News Network.

Two Indians among Forbes billionaire heiresses to watch

WASHINGTON – Two Indian women – Roshni Nadar and Nisha Godrej – have been listed among Forbes magazine’s list of “a breed of heiresses who choose to live a lower-key life … and working to make a difference behind the scenes.”

In its latest annual list of notable heiresses, the US business magazine said it …. Read the original article  : Two Indians among Forbes billionaire heiresses to watch.

Disgruntled worker drives over people at Mazda plant in Japan, killing 1 and injuring 10

Worker runs over people at Japanese plant, 1 dead

TOKYO – A disgruntled worker slammed his car into employees at a Mazda factory Tuesday, killing one and injuring 10, stunning Japan just two years after an autoworker went on a deadly rampage in central Tokyo.
Toshiaki Hikiji, 42, was arrested about an hour later on attempted murder … Original article on : Disgruntled worker drives over people at Mazda plant in Japan, killing 1 and injuring 10.

Sensex slips in afternoon trade

MUMBAI – A key index for Indian equities Thursday slipped into the red in afternoon trade, tracking negative European and mixed Asian markets after US Federal Reserve painted a mixed economic outlook.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,750.51 points, was ruling at 17,678.66 points, 77.28 points … Read more : Sensex slips in afternoon trade.

Bangladesh losing US garment market to India, China

DHAKA – Bangladesh is losing the US market for garments to India, China, Vietnam and Indonesia, among others, causing concern among exporters.

Citing a recent report of US Commerce Department, exporters say Bangladesh, recording a marginal fall during January-April this year, has witnessed overall negative growth in shipments compared to other Asian competitors.
The … Read the original article on Gaea Times at : Bangladesh losing US garment market to India, China.

World stock markets lose ground after cautious Fed statement on economy

World stocks lose ground after Fed statement

BANGKOK – World stock markets retreated Thursday after the U.S. Federal Reserve struck a note of caution in its latest assessment of the world’s No. 1 economy.
The central bank’s statement, which accompanied a decision to leave interest rates at a record low, added to unease after weak housing figures … Original source on Gaea Times at : World stock markets lose ground after cautious Fed statement on economy.

Reliance Industries buys US shale assets for $1.3 bn

MUMBAI – Reliance Industries (RIL) Thursday said it will pay $1.3 billion for a 45 percent stake in US-based Pioneer Natural Resources’ shale gas assets.

“Reliance will acquire a 45 percent interest in Pioneer’s core Eagle Ford Shale acreage position in two separate transactions. Reliance will pay $1.315 billion for its implied share of 118,000 net …. Original article  : Reliance Industries buys US shale assets for $1.3 bn.

Manmohan Singh leaves for Canada Friday

NEW DELHI – Prime Minister Manmohan Singh leaves Friday for the G20 Summit in Toronto June 26-27 where he is also set to hold talks with his Canadian counterpart Stephen Harper and sign a bilateral nuclear cooperation pact on the lines India has with the US.

On the way to Canada, the prime minister’s special aircraft, … Read the original article on Gaea Times at : Manmohan Singh leaves for Canada Friday.

Obama ally John Podesta among president’s picks for national service agency board

Podesta among Obama’s picks for service board
WASHINGTON – President Barack Obama is nominating John Podesta, a key political ally, to serve on the board that helps set policies and direction for the government’s national service agency.
Podesta, who guided Obama through the presidential transition process, is among seven people Obama …. Source article on Gaea Times at  : Obama ally John Podesta among president’s picks for national service agency board.

Speeding train runs over revelers in Spain, killing 12

12 killed as train hits pedestrians in Spain

CASTELLDEFELS, Spain – A train speeding through a seaside rail station in northeast Spain plowed into a group of youths crossing the tracks to get to a beach party marking the start of summer, killing at least 12 and injuring 14, officials said Thursday.
The youths had just got …. Original source  : Speeding train runs over revelers in Spain, killing 12.

India asks US to remove ISRO, DRDO from banned list

WASHINGTON – India has “very firmly” asked the US to ease export controls and remove top Indian agencies like the Department of Atomic Energy (DAE) and the Indian Space Research Organisation (ISRO) from the banned list.

“We have taken up export controls very firmly” Commerce and Industry Minister, Anand Sharma. told reporters Wednesday at the end … Read : India asks US to remove ISRO, DRDO from banned list.

Oil falls to near $76 in Asia on signs US crude demand, economy sluggish

Oil falls to near $76 amid signs US economy weak

SINGAPORE – Oil prices fell to near $76 a barrel Thursday in Asia amid signs the U.S. economic recovery and demand for crude remain uneven.
Benchmark crude for August delivery was down 26 cents to $76.09 a barrel at late afternoon Singapore time in electronic trading on … Read more >>>.

Exhibit imagines sustainable transportation in New York, Johannesburg, 8 other cities in 2030

NY exhibit imagines utopian, green cities in 2030

NEW YORK – Imagine no cars – or fewer, anyway.
In New York, a two-mile stretch of the FDR Drive parkway is torn down to open lower Manhattan for parks and plazas, and bicyclists are given their own lane on the Brooklyn Bridge.
An elevated highway in Guangzhou, China, is … Read more >>>.

Andrew Phillips replaces Davidar

NEW DELHI – Andrew Phillips of Dorling Kindersley has taken over as head of Penguin International succeeding David Davidar, who quit following allegations of sexual harassment by a former colleague.

Penguin International handles the publishing giant’s businesses in India, Africa and the Middle East. Phillips will take charge in September. …. Source  : Andrew Phillips replaces Davidar.

Democrats confident that bill regulating political activity will pass House vote

Campaign disclosure bill headed for House floor

WASHINGTON – Four months before midterm elections, Democrats are intent on pushing through the House legislation that requires stricter disclosure requirements on political activity by interest groups.
Republicans oppose the bill, arguing the measure is unconstitutional and crafted to place corporations at a disadvantage. Even some Democrats balked in recent … Read more >>>.

G-20 countries face split on issue of stimulus spending versus tackling soaring deficits

G-20 leaders facing worries about rising deficits
WASHINGTON – World leaders who addressed a severe economic crisis with an unprecedented show of strength last year are finding it harder to maintain their solidarity in the face of new challenges.
Despite U.S. appeals to refrain from removing stimulus measures too quickly, country after country is rushing … Original source on Gaea Times at : G-20 countries face split on issue of stimulus spending versus tackling soaring deficits.

World leaders, their standing and their issues heading into summit meetings in Canada

World leaders and their issues before G-20 summit
Leaders of the world’s major industrial countries, representing 85 percent of the global economy, will meet in Canada starting Friday for economic summits of the Group of Eight and G-20 nations. A look at selected countries and their leaders:
UNITED STATES
President Barack Obama has endured a rough … Read more >>>.

South Korean central bank says North Korea’s economy shrank in 2009

Bank of Korea: NKorean economy shrank in 2009

SEOUL, South Korea – North Korea’s impoverished economy shrank last year amid poor harvests, a slump in manufacturing and the weight of strengthened international sanctions targeting its nuclear program.
South Korea’s central bank in a report released Thursday estimated that North Korea’s economy contracted 0.9 percent – the third … Read more : South Korean central bank says North Korea’s economy shrank in 2009.

Sweden’s Hennes & Mauritz profit jumps in Q2 on higher sales and greater efficiency

Sweden’s Hennes & Mauritz Q2 profit jumps 25 pct

STOCKHOLM – Swedish fashion retailer Hennes & Mauritz AB on Thursday reported a near 25 percent jump in second-quarter net profit, boosted mainly by a weaker dollar, lower raw material costs and increased efficiencies.
Profit rose to 5.2 billion kronor ($670 million) from 4.2 billion kronor while sales, … Original source on Gaea Times at : Sweden’s Hennes & Mauritz profit jumps in Q2 on higher sales and greater efficiency.

World Bank lends 9.3 billion to India in FY 10

NEW DELHI – The World Bank is committed to supporting India’s development agenda as is evident from the record annual lending of 9.3 billion dollars for the current financial year.

According to the World Bank website, the total expected lending this year includes 2.6 billion dollars as interest-free credits from the International Development Association (IDA) … Original source on Gaea Times at : World Bank lends 9.3 billion to India in FY 10.

CEOs of Disney, Boeing, Hewlett-Packard join NYC mayor to advocate for immigration reform

NYC mayor, major CEOs lobby for immigration reform

NEW YORK – Chief executives of several major corporations, including Hewlett-Packard, Boeing, Disney and News Corp., are joining Mayor Michael Bloomberg to form a coalition advocating for immigration reform – including a path to legal status for all undocumented immigrants now in the United States.
The group includes several … Read : CEOs of Disney, Boeing, Hewlett-Packard join NYC mayor to advocate for immigration reform.

World Cup: Tourist spending boosts South African economy

PRETORIA – South African economy has received a boost from international tourists flocking the country to watch the 2010 soccer World Cup.

During the period between the kick-off of the World Cup and the first week of the event, spending by visitors exceeded $128 million (R974 million), up 54 percent from $83 million during the same … Original article on : World Cup: Tourist spending boosts South African economy.

Champion Blackhawks to send playoff hero Byfuglien to Thrashers for picks and players

Blackhawks send Byfuglien to Thrashers
ATLANTA – Rick Dudley called upon his five years as an assistant coach in Chicago to bring one of the Stanley Cup champion Blackhawks’ top young players to Atlanta.

Dudley, who in April was promoted to general manager in Atlanta, completed two deals late Wednesday that he said made the Thrashers “significantly … Read this article on Gaea Times at : Champion Blackhawks to send playoff hero Byfuglien to Thrashers for picks and players.

RNRL signs gas pact with RIL

MUMBAI – The Anil Ambani-promoted Reliance Natural Resources (RNRL) said Friday it has signed a revised gas supply agreement with the Mukesh Ambani-led Reliance Industries (RIL).

The agreement follows the Supreme Court ruling asking both sides to renegotiate and finalise a new gas sales deal as per the rules set by the government and subsequent assurance …. Source article  : RNRL signs gas pact with RIL.

Unbeaten yet eliminated New Zealand makes coach Ricki Herbert proud at World Cup

Unbeaten New Zealand makes coach proud
POLOKWANE, South Africa – New Zealand coach Ricki Herbert has every reason to be proud of his team, despite its first-round elimination at the World Cup.

The All Whites remained unbeaten in three games and finished above defending champion Italy, but still saw their second visit to the World Cup come … Original article on : Unbeaten yet eliminated New Zealand makes coach Ricki Herbert proud at World Cup.

Japan court orders protesters away from theater set to show dolphin-hunt movie ‘The Cove’

Japan court blocks ‘The Cove’ protests at theater

TOKYO – A court Friday ordered protesters to keep away from a theater that plans to show the Oscar-winning documentary “The Cove,” about a dolphin hunt in a Japanese village.
The movie shows scenes of the bloody but legal dolphin slaughter filmed using hidden cameras, and portrays local fisherman …. Source article  : Japan court orders protesters away from theater set to show dolphin-hunt movie ‘The Cove’.

Himachal hydropower plant resumes generation

SHIMLA – Power supply in Delhi, Haryana and other northern states normalised Friday as the 1,500 MW Nathpa Jhakri hydel power plant resumed generation in Himachal Pradesh’s Kinnaur district, an official said here.

The plant was temporarily shut down Thursday noon after the level of silt rose in the Sutlej river.
The power generation was resumed … Read more : Himachal hydropower plant resumes generation.

World stock markets mixed as US retail forecasts, economic data hint at weak recovery

World markets mixed on concerns about US recovery

SINGAPORE – Asian stock markets stumbled Friday after downbeat forecasts from U.S. retailers added to concern about the strength of the economic recovery. European shares posted moderate gains.
The broad declines in Asia followed a dour session on Wall Street. The muted forecasts from retailers including Nike and Bed …. Source article on Gaea Times at  : World stock markets mixed as US retail forecasts, economic data hint at weak recovery.

House, Senate negotiators close in on deal on regulatory overhaul

House, Senate deal near on Wall Street bill
WASHINGTON – House and Senate negotiators broke through logjams as they worked in a packed hearing room to wrap up a sweeping overhaul of financial regulations in time to get it to President Barack Obama by July 4.
Lawmakers cut deals in public and behind …. Original article  : House, Senate negotiators close in on deal on regulatory overhaul.

World leaders agree to disagree on best economic strategy to focus on other issues at summit

Leaders differ on how to nurture a global recovery
TORONTO – World leaders, facing serious differences over the best way to nurture a fragile global recovery, are agreeing to disagree in a variety of key areas.
Even before the economic talks were to begin over lunch Friday, the leaders engaged in a series of dueling …. Read the original article  : here.

With jobs agenda stymied, congressional Democrats settle for short term fix for Medicare

Dems settle for Medicare fix as jobs bill falters

WASHINGTON – Congressional Democrats are looking for ways to salvage their election-year jobs agenda after the Senate failed to pass a long-sought extension of unemployment payments.
Senate Democrats cut billions from the bill in an attempt to attract enough Republican votes to overcome a filibuster. But Thursday’s 57-41 …. Original article  : With jobs agenda stymied, congressional Democrats settle for short term fix for Medicare.

787s not flying while Boeing addresses problem with component built by Italian company

Boeing 787s not flying while problem addressed

SEATTLE – Boeing Co. says it has decided to inspect its five flight-test 787 jets before they fly again because of a quality problem found in a portion of the tail built by Italian manufacturer Alenia.
The Seattle Times reported Thursday that the problem in the horizontal stabilizer, the smaller …. Source article on Gaea Times at  : 787s not flying while Boeing addresses problem with component built by Italian company.

Give fair wage to Bangladesh workers: Parliamentary body

DHAKA – A Bangladesh parliament committee has told the government to declare “a time befitting minimum wage structure” by July 29 for the country’s readymade garments industry that is facing recurring industrial violence.

The parliamentary standing committee on labour and employment also recommended taking measures to resolve all the other problems in the garments sector. …. Original article  : Give fair wage to Bangladesh workers: Parliamentary body.

Sensex down, markets lacklustre

NEW DELHI – A benchmark index for Indian equities Friday was ruling 49 points lower from its previous close in lacklustre trade.

Trading in broader markets was also insipid.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,705.11 points, was ruling at 17,680.89 points, 49.35 points or 0.28 … Read this article on Gaea Times at : Sensex down, markets lacklustre.

Hundreds of wheat bags found with soil

CHANDIGARH – Authorities in Punjab Friday raided the warehouses of a government foodgrain procurement agency and found hundreds of gunny bags with soil instead of wheat stocks.

Government sources said the scam could run into millions of rupees. The stocks allegedly belonged to procurement agency Punsup.
The official said at least 1,000 wheat bags had nothing …. Source article  : Hundreds of wheat bags found with soil.

Talks stretch into Friday as lawmakers move toward deal on Wall Street regulation bill

Lawmakers edge toward agreement on Wall St. bill

WASHINGTON – Working into early Friday, lawmakers drafting an overhaul of bank regulations softened a contentious Wall Street restriction that would force large bank holding companies to spin off their lucrative derivatives business.
The deal, negotiated between the White House and Sen. Blanche Lincoln, D-Ark., eliminated one of the …. Read the original article  : here.

Manmohan Singh leaves for G20 Summit

NEW DELHI – Prime Minister Manmohan Singh left Friday for the June 26-27 G20 Summit in Toronto where he will also hold talks with his Canadian counterpart Stephen Harper and sign a bilateral nuclear pact on the lines India has with the US.

On the way to Canada, the prime minister’s Air India One will make …. Read the original article  : Manmohan Singh leaves for G20 Summit.

Nepal to test-drive Nano next month

KATHMANDU – A year after its launch in India, Tata Motors’ much-awaited “people’s car”, the Tata Nano, is poised to hit the international market, with Nepal beginning the first test-drive of the world’s cheapest car next month.

Sipradi Trading Pvt Ltd, the Kathmandu-based Nepali company that is the sole dealer for Tata vehicles in the Himalayan … Read more »».

Ever-ambitious Dubai targets goal of world’s busiest airport despite financial woes

Dubai’s ambitions soar with new airport
DUBAI, United Arab Emirates – In the desert beyond the skeletons of villas unfinished because of Dubai’s economic slump, the home of the tallest building is preparing to open what could become another record-setter: an airport aiming to become the world’s busiest.

Civic boosters envision Dubai World Central-Al Maktoum International, set … Read the original article on Gaea Times at : Ever-ambitious Dubai targets goal of world’s busiest airport despite financial woes.

Talks stretch into Friday as lawmakers push for deal on Wall Street regulation bill

Lawmakers seek a deal for Wall Street bill

WASHINGTON – Working into early Friday, lawmakers drafting an overhaul of bank regulations sought to soften a contentious Wall Street restriction that would force large bank holding companies to spin off their lucrative derivatives business.
House Democrats, prodded by moderates and members of the New York congressional delegation, offered …. Original article  : Talks stretch into Friday as lawmakers push for deal on Wall Street regulation bill.

First Quarter Review of Monetary Policy 2010-11 on July 27, 2010

Dr. D. Subbarao, Governor, Reserve Bank of India will announce the First Quarter Review of Monetary Policy for 2010-11 on Tuesday, July 27, 2010.  This will be done in a meeting with the chief executives of major scheduled commercial banks at 11.00 a.m. on July 27, 2010 at … Original article on : First Quarter Review of Monetary Policy 2010-11 on July 27, 2010.

Oil drops to near $76 in Asia on renewed concerns over pace of global economic recovery

Oil drops to near $76 amid new economic jitters

KUALA LUMPUR, Malaysia – Oil prices fell to near $76 a barrel Friday in Asia as regional stock markets tumbled amid concerns over the pace of the global economic recovery.
Benchmark crude for August delivery was down 13 cents to $76.38 a barrel at late afternoon Kuala Lumpur …. Source article on Gaea Times at  : Oil drops to near $76 in Asia on renewed concerns over pace of global economic recovery.

Phoenix Suns select Gani Lawal of Georgia Tech with 46th pick in NBA draft

Suns select Georgia Tech’s Lawal with 46th pick

PHOENIX – The Phoenix Suns, working with a general manager who will walk away from his job next week, have selected Gani Lawal of Georgia Tech with the 46th pick overall in the NBA draft.
Lawal left college after his junior season, when he averaged 13.1 points, 8.5 rebounds …. Source article on Gaea Times at  : Phoenix Suns select Gani Lawal of Georgia Tech with 46th pick in NBA draft.

Strike in Tripura over fuel prices Monday

AGARTALA – The Communist Party of India-Marxist (CPI-M)-led ruling Left Front in Tripura Saturday called for a 12-hour shutdown in the state Monday to protest against the hike in fuel prices.

Left Front spokesperson Gautam Das told reporters here that by increasing prices of petrol, diesel, kerosene and cooking gas, the central government “has made the …. Read the original article  : Strike in Tripura over fuel prices Monday.

Kerala shuts down against fuel price hike

THIRUVANANTHAPURAM – A shutdown called by the ruling Left Democratic Front (LDF) against the hike in fuel prices saw most shops and offices closed and public transport off the roads in Kerala Saturday.

Commuters had a tough time getting transport from railway stations and bus stops and many complained about the frequent shutdowns in the state. …. Read the original article  : Kerala shuts down against fuel price hike.

Benchmarks flat, broader markets gain amid mega announcements (Weekly market review)

MUMBAI – Benchmark indices for Indian equities ended flat for the week amid announcements from both Ambani brothers’ firms that they had signed a new gas supply agreement and the government freeing auto fuel prices.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE) ended almost unchanged from its previous weekly close. It closed … Read this article on Gaea Times at : Benchmarks flat, broader markets gain amid mega announcements (Weekly market review).

World leaders moving to discussions of nuclear threats posed by Iran and North Korea

World summit turning attention to nuclear threats
HUNTSVILLE, Ontario – After failing to resolve their differences on economic strategy, world leaders are turning their attention to grappling with some of the globe’s toughest foreign policy problems.
President Barack Obama and other leaders of the Group of Eight major industrial countries were scheduled to open their …. Source article on Gaea Times at  : World leaders moving to discussions of nuclear threats posed by Iran and North Korea.

West Bengal hit by strike against fuel price hike

KOLKATA – Normal life was badly hit in West Bengal as buses, taxis and autorickshaws went off the roads Saturday in response to a public transport strike called by the Centre of Indian Trade Unions (CITU) against the fuel price hike.

Despite being a holiday for government employees, commuters were inconvenienced as a handful of taxis …. Original article on Gaea Times at  : West Bengal hit by strike against fuel price hike.

G20 to change IMF, World Bank headship rules

HUNTSVILLE – The leaders of the world’s 20 top economies are set to end the 60-year domination by Europe and the US of the World Bank and International Monetary Fund (IMF) at a summit here this weekend, draft documents say.

But they are not expected to approve European Union calls for a worldwide levy on bank …. Original article on Gaea Times at  : G20 to change IMF, World Bank headship rules.

The racing wasn’t realistic, but characters in ‘Days of Thunder’ captured NASCAR’s stars

20 years later, ‘Days of Thunder’ still resonates

CHARLOTTE, N.C. – “Rubbin’, son, is racin’,” or so said Harry Hogge to a worldwide audience in the summer of 1990, when NASCAR was a niche, regional sport that had yet to pique much mainstream interest.
Tom Cruise was into it, though, and that was good enough.
Riding high from …. Source  : The racing wasn’t realistic, but characters in ‘Days of Thunder’ captured NASCAR’s stars.

Boeing finds problem in 787 Dreamliners’ tail

WASHINGTON – The delivery of Boeing 787 Dreamliners may be further delayed with the company deciding to inspect the entire fleet after finding assembly problems in the tail area on some of the 23 completed planes.

Air India and Jet Airways have ordered 27 and 10 of the planes, already more than two and a half … Read more »»».

Largest gold coin sold at $4 mn in Austria

VIENNA – The world’s largest gold coin, weighing 100 kg with a diameter of 52 cm, was sold for 3.27 million euros (about $3.99 million) at an auction here.

Spanish dealer Oro Direct offered the price and became the owner, Xinhua reported.
Six bidders were registered for the auction. Oro Direct offered the bid in a … Original article on : Largest gold coin sold at $4 mn in Austria.

Product recalls: children’s tiaras, garlic spread, diet supplement

Recalls: tiaras, garlic spread, diet supplement

The following recalls have been announced:
-About 7,300 children’s tiaras, made in China and imported by Wilton Industries Inc. of Woodridge, Ill., because the item contains high levels of lead, which is dangerous for young children. No incidents or injuries have been reported. This recall involves the Wilton Youth Tiara with …. Original source  : Product recalls: children’s tiaras, garlic spread, diet supplement.

British and Russian leaders pledge to work to mend troubled relationship

UK and Russia to form closer ties
HUNTSVILLE, Ontario – British Prime Minister David Cameron and Russian President Dmitry Medvedev pledged Friday to improve the recently strained relationship between their two countries after meeting for the first time.
“We agreed that our bilateral relations required personal attention of the leaders … both in terms of …. Source  : British and Russian leaders pledge to work to mend troubled relationship.

Associated Press National News Calendar

AP National News Calendar
Eds: Major scheduled events for July 2010. Note that many events are subject to change at the last minute
… Original article on : Associated Press National News Calendar.

Product recalls: children’s tiaras, garlic spread

Recalls: children’s tiaras, garlic spread
The following recalls have been announced:

-About 7,300 children’s tiaras, made in China and imported by Wilton Industries Inc. of Woodridge, Ill., because the item contains high levels of lead, which is dangerous for young children. No incidents or injuries have been reported. This recall involves the Wilton Youth Tiara with a …. Source  : Gaea News Network.

Influential real estate magnate Walter Shorenstein, who advised presidents, dies

Real estate magnate Walter Shorenstein dies
SAN FRANCISCO – Real estate magnate Walter Shorenstein, an adviser to U.S. presidents whose company controlled about 30 million square feet of commercial real estate, has died. He was 95.
He died Thursday of natural causes at his San Francisco home, said Andrew Neilly, a spokesman for The Shorenstein …. Original article on Gaea Times at  : Influential real estate magnate Walter Shorenstein, who advised presidents, dies.

Taylor trumps Tyler: Edmonton Oilers choose F Taylor Hall with No. 1 pick in NHL draft

Edmonton chooses Taylor Hall to begin NHL draft

LOS ANGELES – The Edmonton Oilers have selected forward Taylor Hall with the No. 1 pick in the NHL draft.
The league-worst Oilers chose Hall over fellow OHL forward Tyler Seguin on Friday, making the toughest call at the top of a draft in several years.
The Boston Bruins eagerly …. Read the original article  : Taylor trumps Tyler: Edmonton Oilers choose F Taylor Hall with No. 1 pick in NHL draft.

Regulators shut down banks in Florida, Georgia, New Mexico; marks 86 bank failures this year

Regulators close banks in Fla., Ga., NM
WASHINGTON – Regulators on Friday shut down banks in Florida, Georgia and New Mexico, lifting to 86 the number of U.S. bank failures this year.

The Federal Deposit Insurance Corp. took over Peninsula Bank, based in Englewood, Fla., with $644.3 million in assets and $580.1 million in deposits. The agency … Read : Regulators shut down banks in Florida, Georgia, New Mexico; marks 86 bank failures this year.

Daniels administration releases budget cut document, but speaker says it’s not enough

New document outlines some Ind. budget cuts

INDIANAPOLIS – The administration of Republican Indiana Gov. Mitch Daniels released hundreds of pages of documents late Friday afternoon in response to Democrats who have been asking for details on how state budget cuts were made.
Senate Minority Leader Vi Simpson, D-Bloomington, had requested budget cut information from every state …. Source  : Daniels administration releases budget cut document, but speaker says it’s not enough.

Lessons from turbulent times: TIAA-CREF chief urges more tools, teaching for smarter investing

TIAA-CREF chief: lessons from turbulent times
Americans need to get smarter about how to invest for their future.
That’s the main message from Roger W. Ferguson Jr., president and CEO of TIAA-CREF, in a recent interview.
Ferguson notes that even as people take on more responsibility for their investments, they still aren’t saving enough for retirement. …. Read the original article  : here.

Granholm: Losing federal money could have ‘devastating’ impact on Michigan state budget

Losing federal money could hurt Michigan budget

LANSING, Mich. – Michigan’s budget problems will become significantly worse and state programs will be put at risk if Congress doesn’t revive a federal spending bill, Democratic Gov. Jennifer Granholm said Friday.
The legislation killed by a Republican filibuster on Thursday includes more than $500 million in federal Medicaid money … Original source on Gaea Times at : Granholm: Losing federal money could have ‘devastating’ impact on Michigan state budget.

Texas company developing transmission lines files request to become an Oklahoma public utility

Texas company asks to be an Okla. public utility

OKLAHOMA CITY – A Texas company planning a $3.5 billion transmission line project has applied to become a public utility in Oklahoma.
The application by Plains and Eastern Clean Line Oklahoma, which is an affiliate of Houston-based Clean Line Energy Partners, with the Oklahoma Corporation Commission is only … Read more »»».

A mega tunnel under the ‘pile of dead bodies’

ROHTANG PASS – Its beauty notwithstanding, this 13,300 feet high mountainous pass also, because of its treacherous terrain, ominously means “pile of dead bodies”. For India’s Border Roads Organisation (BRO), that is building the nearly 9 km-long Rohtang tunnel, it will prove a “geological challenge” to cut through the mighty Himalayas to create an all-weather …. Source article  : A mega tunnel under the ‘pile of dead bodies’.

World leaders struggle to find common ground to revive global economy with splits remaining

World leaders struggle for common economic ground

TORONTO – After achieving notable success in dealing with the worst economic crisis in decades, major countries are now struggling to manage the global recovery.
Leaders of the Group of 20 rich industrial and major developing countries were wrapping up their summit by agreeing to pursue separate strategies to sustain …. Original article on Gaea Times at  : World leaders struggle to find common ground to revive global economy with splits remaining.

Tata-owned Corus CEO to quit

LONDON – Chief executive officer of Tata-owned British steel maker Corus, Kirby Adams is to step down this October, media reports said.

Adams, who will remain as an adviser to the Corus board, will be replaced by Karl-Ulrich K??hler, the company’s chief operating officer.
The Sunday Times quoted senior steel industry sources as saying … Read : Tata-owned Corus CEO to quit.

Opposition observes nationwide strike in Bangladesh

DHAKA – The opposition in Bangladesh Sunday observed a nationwide dawn-to-dusk strike to protest against the policies of Prime Minister Sheikh Hasina, chief among them being the five deals signed with India.

Though Hasina has also signed pacts with China, Russia and other countries, her arch rival Begum Khaleda Zia of the Bangladesh Nationalist Party (BNP) … Original article on : Opposition observes nationwide strike in Bangladesh.

Mahindras to make foray in aerospace industry

BANGALORE – India’s auto major Mahindra and Mahindra is all set to make its presence felt in the skies since it is making a foray in the aviation sector.

Addressing media here, Mahindra and Mahindra’s Managing Director Anand Mahindra, said the company is investing 2.5 billion rupees into aerospace … Original article on : Mahindras to make foray in aerospace industry.

New British premier to visit India in July

TORONTO – Indian Prime Minister Manmohan Singh has once again invited his newly-elected British counterpart David Cameron to visit India — an offer that was immediately accepted and decided for July.

Manmohan Singh met Cameron Saturday for the first time after the latter replaced Gordon Brown as the British prime minister. The meeting took place on … Read the original article on Gaea Times at : New British premier to visit India in July.

Online shopping brings about more ‘phishing’ in China

BEIJING – With low prices, discounts and the ease of buying, online shopping has attracted more than 100 million netizens in China in recent times, and with it a lot of “phishing”.

“Phishing” is a fraudulent process in which a fake website attempts to acquire a user’s passwords or credit card information by disguising itself as … Original article on : Online shopping brings about more ‘phishing’ in China.

G20 leaders for talks on global recovery

TORONTO – Leaders of the world’s 20 leading economies arrived Saturday in Canada, aiming to smooth over differences on financial regulation and how to keep the global economic recovery afloat.

Major developing economies including China, India, Brazil and South Africa joined a three-day gathering that began Friday with the Group of Eight (G8) meeting of wealthy … Read : G20 leaders for talks on global recovery.

Fiorina courts Latino voters but key supporter differs with her on immigration policy

Fiorina courts Latinos in California Senate race

SACRAMENTO, Calif. – Republican Senate candidate Carly Fiorina launched a new effort Saturday to reach out to Latino voters, unveiling a Spanish-language website with supporters at a Hispanic-owned catering company.
But her chief endorsement at Saturday’s event, former U.S. Commerce Secretary Carlos Gutierrez, has sharply different views from Fiorina on …. Source article on Gaea Times at  : Fiorina courts Latino voters but key supporter differs with her on immigration policy.

World leaders turn from economic differences in hunt for common ground on security threats

World leaders seek common ground on crises
TORONTO – At odds over how to strengthen the global recovery, top world leaders found common ground on foreign policy Saturday, condemning North Korea for the alleged sinking of a South Korean warship and endorsing a five-year exit timetable for Afghanistan
In a joint statement, … Original source on Gaea Times at : World leaders turn from economic differences in hunt for common ground on security threats.

Interim manager Edwin Rodriguez gets chance to formally interview for Marlins’ permanent job

Rodriguez gets formal interview with Marlins

MIAMI – Florida interim manager Edwin Rodriguez will still be with the Marlins when they open a three-game series in his native Puerto Rico on Monday.
He just doesn’t know what job he’ll have during that trip.
The Marlins gave Rodriguez a formal interview Saturday, the latest part of their ongoing quest … Original source on Gaea Times at : Interim manager Edwin Rodriguez gets chance to formally interview for Marlins’ permanent job.

World leaders set aside economic differences to unite in criticism of Iran and North Korea

Leaders blast North Korea on warship sinking
TORONTO – Briefly putting aside deep economic differences, top world leaders on Saturday condemned North Korea for the alleged sinking of a South Korean warship, set a five-year exit timeline for Afghanistan and said the standoff in Gaza was “not sustainable and must be changed.”
In a joint …. Read the original article  : here.

Obama, South Korean leader say North Korea must face consequences for alleged ship sinking

Obama, Lee criticize North Korea on ship sinking
TORONTO – President Barack Obama said Saturday that North Korea must be “held to account” for its alleged sinking of a South Korean warship, a tough statement of support for an ally, made at its leader’s side.
After talks with South Korean President Lee Myung-Bak on the …. Read the original article  : Obama, South Korean leader say North Korea must face consequences for alleged ship sinking.

Algirdas Brazauskas, 1st president of Lithuanian after independence, dies aged 77

Lithuania’s former president Brazauskas dies at 77

VILNIUS, Lithuania – Lithuania’s first post-independence president, Algirdas Brazauskas, died at his home Saturday, his wife said. He was 77.
Brazauskas had been receiving treatment since the beginning of the year for prostate cancer and lymphoma, Kristina Brazauskiene said.
He became Lithuania’s first freely elected president in 1993, two years after …. Original article  : Algirdas Brazauskas, 1st president of Lithuanian after independence, dies aged 77.

Administration: US will resume talks to resolve issues blocking South Korea free trade deal

Obama will resume talks on South Korea trade
TORONTO – President Barack Obama said Saturday his administration will launch talks with South Korea aimed at resolving remaining issues blocking the completion of a South Korea free trade agreement.
Obama said that his goal would be to clear up the remaining issues before he visits South …. Read the original article  : here.

Geithner says G-20 must focus on keeping global recovery on track

Geithner: Keeping recovery on track is top focus
TORONTO – World leaders must work together to make sure the global recovery stays on track, Treasury Secretary Timothy Geithner said Saturday.
Geithner made his remarks as President Barack Obama has warned his counterparts from the Group of 20 nations to not reel in measures to stimulate … Read more >>>.

Top 8 industrial democracies agree on 5-year Aghanistan exit timeline; slam North Korea, Iran

World leaders unite in slamming North Korea, Iran
TORONTO, Ontario – Briefly putting aside deep economic differences, top world leaders on Saturday condemned North Korea for the alleged sinking of a South Korean warship, set a five-year exit timeline for Afghanistan and said the standoff in Gaza was “not sustainable and must …. Source article  : Top 8 industrial democracies agree on 5-year Aghanistan exit timeline; slam North Korea, Iran.

China vows not to bow to outside pressure on currency reform

China vows not to bow to currency pressure
TORONTO – China vowed Saturday not to bow to outside pressure to make more changes to its currency policy, which some U.S. officials and experts say is crucial to a global economic recovery.
Senior Chinese officials warned at a summit of the Group of 20 leading … Read this article on Gaea Times at : China vows not to bow to outside pressure on currency reform.

Four-time champion Johnson tops Junior in fan-sponsored contest

Johnson tops Junior in popularity
LOUDON, N.H. – Jimmie Johnson has another win this year, this time in a popularity contest.

Johnson beat his Hendrick Motorsports teammates, Jeff Gordon and Dale Earnhardt Jr., to win a $100,000 grant as part of the Pepsi Refresh Project. Johnson’s award will go toward providing financial relief to pediatric bone marrow …. Original article on Gaea Times at  : Four-time champion Johnson tops Junior in fan-sponsored contest.

Blue Dog in red state: Republicans take aim at rare Democratic congresswoman in South Dakota

Republicans take aim at a Democrat in South Dakota

PIERRE, S.D. – As a Blue Dog in a red state, Democrat Stephanie Herseth Sandlin has worked carefully to develop a moderate reputation in an area where Republicans outnumber their rivals.
Building on a stellar political pedigree, the state’s lone congresswoman and first female House member has kept …. Original article  : Blue Dog in red state: Republicans take aim at rare Democratic congresswoman in South Dakota.

Mahindra to make smaller aircraft for Indian market

BANGALORE – Mahindra Aerospace of the $6.3-billion utility vehicle maker Mahindra Group will become the first Indian private firm to manufacture smaller civil aircraft for the Indian general aviation market, which is set to boom this decade.

“We will manufacture the turboprop aircraft in 2-20 seat capacity at our recently acquired Gippsland Aeronautics (GA) in Victoria … Original article on : Mahindra to make smaller aircraft for Indian market.

World stock markets post muted gains as investors await new cues following flat Wall Street

World stock markets post muted gains
BANGKOK – World stock markets mostly posted muted gains Monday as investors searched for fresh cues after a flat session on Wall Street and a pledge by world leaders to reduce budget deficits.

In a final statement from the top 20 industrial and developing nations at their weekend summit in Toronto, …. Source  : World stock markets post muted gains as investors await new cues following flat Wall Street.

Light of hope at the end of Rohtang tunnel

LAHAUL – Snow-capped mountains, glaciers, rivers, forests, pastures, monasteries and monuments – Himachal Pradesh’s twin Lahaul and Spiti valleys that share a border with Tibet have everything but communication links to tap their obvious tourist potential.

The only narrow road link from the tourist town of Manali to Lahaul and Spiti district tucked in the Pir … Read more >>.

RCom up 4.4 percent, gains after GTL deal

MUMBAI – Reliance Communications (RCom) was trading with robust gains in afternoon trade Monday, after shooting up in the morning on the week-end news of its $11-billion telcom tower deal with GTL Infra.

The RCom scrip was up 4.36 percent at Rs.200.90, around 1.30 p.m., compared to its previous close at Rs.192.50. It had shot up …. Original source  : RCom up 4.4 percent, gains after GTL deal.

More oil discovered by Reliance in Cambay Basin

MUMBAI – India’s largest private sector company, Reliance Industries (RIL), said Monday it has made its seventh oil discovery at a site in Cambay basin, off the Gujarat coast.

RIL said it had informed the government and the directorate general of hydrocarbons about the discovery, named Dhirubhai-50.
“The potential commercial interest of the discovery is …. Read the original article  : More oil discovered by Reliance in Cambay Basin.

Dubai’s port operator DP World postpones plans to raise cash by listing shares in London

Dubai ports firm holds off on London stock listing

DUBAI, United Arab Emirates – Dubai’s global port operator says it is delaying plans to raise cash by listing its shares on the London Stock Exchange.
DP World said in a regulatory filing Monday that it remains committed to pursuing the plan, but is waiting until “an acceptable … Read the original article on Gaea Times at : Dubai’s port operator DP World postpones plans to raise cash by listing shares in London.

Rohtang tunnel will boost tourism, provide employment: Sonia

SOLANG – The construction of a tunnel under the Rohtang pass will give a boost to tourism in the region, facilitate better medical treatment and provide more avenues of employment to the youth, Congress president Sonia Gandhi said Monday after laying its foundation stone.

“People will be able to meet their daily needs round the year. … Read more »»».

Wisconsin among states easing food safety rules for goods sold at farms, farmers markets

States ease food safety rules for homemade goods

MILWAUKEE – At Wisconsin farmers markets, vendors no longer need licenses to sell pickles, jams and other canned foods, while small farmers in Maine can sell slaughtered chickens without worrying about inspections.
Federal and state laws require that most food sold to the public be made in licensed facilities … Original article on : Wisconsin among states easing food safety rules for goods sold at farms, farmers markets.

Ruling Marxists call strike against fuel hike in Tripura

AGARTALA – A dawn-to-dusk strike called by the ruling Communist Party of India-Marxist (CPI-M)-led Left Front to protest against the hike in fuel prices Monday brought life to a halt in Tripura.

“The strike was total with people expressing their anger against the central government’s decision to increase prices of petrol, diesel, kerosene and cooking gas,” …. Read the original article  : here.

1.6 million tonnes of rock waste from Rohtang Tunnel

SOLANG – The Rohtang Tunnel, whose foundation stone was laid by Congress president Sonia Gandhi Monday in Himachal Pradesh, will produce an estimated waste of 1.6 million tonnes of rocks and stones during its excavation.

“The excavation will produce 16 lakh tonnes of rock waste,” Lt. Col. K.S. Oberoi of the Border Roads Organisation (BRO) told …. Original article  : 1.6 million tonnes of rock waste from Rohtang Tunnel.

GTL Infra, Reliance Shares Witness Jump

MUMBAI, INDIA (GaeaTimes.com)- Reliance Communications witnessed a steady hike by a rate margin of 4.62% to Rs. 201.40. Reportedly, the jump is an aftermath of the deal that was scored between Reliance Communications and GTL Infra (GTL Infrastructure). Both GTL Infra and Reliance Communications have agreed on common grounds to merge their telecom towers expecting … Read : GTL Infra, Reliance Shares Witness Jump.

Labour problems dog multinationals in Tamil Nadu

CHENNAI – All is not well on the industrial labour front in Tamil Nadu, with simmering discontent among workers in multinational companies leading to strikes and shutdowns, threatening the southern state’s reputation as an ideal investment destination.

Tyre-maker ATC Tires’ plant in Tirunelvelli has been closed down for more than a month. Japanese auto component vendor … Read this article on Gaea Times at : Labour problems dog multinationals in Tamil Nadu.

With press of a button, Sonia launches Rohtang tunnel construction

SOLANG – Pressing a remote control to get a giant excavator whirring, Congress president Sonia Gandhi Monday launched the building of a strategic 8.8 km long tunnel in this picturesque valley in Himachal Pradesh that will enable year-round connectivity between Manali and the Ladakh region of Jammu and Kashmir.

The digging machine was kept at a … Read more : With press of a button, Sonia launches Rohtang tunnel construction.

Sensex holding on to morning gains

MUMBAI – A key index for Indian equities Monday was holding on to morning gains even as cues from Asian markets were quiet.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,577.66 points, was ruling at 17,661.99 points, 87.46 points or 0.5 percent up from its previous close at … Read : Sensex holding on to morning gains.

British Prime Minister David Cameron bolsters reputation, wins key ground at Canada summits

Britain’s Cameron bolsters reputation at summits
TORONTO – British Prime Minister David Cameron arrived in Canada for his first international summit, stepping into a fraught divide between Europe and the United States over how best to aid global economic recovery.
And the new British leader leaves with his reputation significantly enhanced after wrestling a key … Read more >>>.

Britain to relocate unemployed to places where there are jobs

LONDON – The British government is drawing up a plan to relocate unemployed people to areas in the country where there are jobs, a media report said.

The government would be bringing forward proposals to make the workforce “more mobile”, Work and Pensions Secretary Iain Duncan Smith told the Sunday Telegraph.
Successive governments have over … Original article on : Britain to relocate unemployed to places where there are jobs.

Report: Turkish PM says Turkey has closed its airspace to Israeli flights

Report: Turkish airspace closed to Israel
ANKARA, Turkey – The state-run news agency quotes Prime Minister Recep Tayyip Erdogan as saying Turkey has closed its airspace to Israel.

The Anatolia news agency quotes Erdogan as telling reporters in Canada that Turkey imposed a ban on flights after the May 31 Israeli raid on a Gaza-bound aid flotilla. …. Source  : Gaea News Network.

Who wins, who loses in bank overhaul bill? Some say we’re safer, some say banks still too big

Bank overhaul bill has plenty of rules and critics
NEW YORK – To keep taxpayers from having to bail out giant banks again, lawmakers faced two choices: design rules to try to prevent them from failing, or shrink them so that if they do fail, they won’t threaten the financial system.
Our political leaders chose …. Source article on Gaea Times at  : Who wins, who loses in bank overhaul bill? Some say we’re safer, some say banks still too big.

Americans overtreated to death; hospitalizations for last 6 months of life are on the rise

Americans are treated, and overtreated, to death

The doctors finally let Rosaria Vandenberg go home.
For the first time in months, she was able to touch her 2-year-old daughter who had been afraid of the tubes and machines in the hospital. The little girl climbed up onto her mother’s bed, surrounded by family photos, toys and the …. Original article on Gaea Times at  : Americans overtreated to death; hospitalizations for last 6 months of life are on the rise.

Money Market Operations as on June 25, 2010

…. Source article on Gaea Times at  : Money Market Operations as on June 25, 2010.

Formula One designer comes up with small city car idea

LONDON – Britain’s famous luxury and Formula One car designer, Gordon Murray, has now come up with the design for an economical electric city car that would cost no more than 6,000 pounds to produce.

The design of T.25 unveiled Monday is being offered as the ultimate solution to “multiple urban mobility problems”. It is easily … Read more >>>.

Rescued teen sailor Abby Sunderland returns to Southern California marina where voyage began

Teen sailor returns to port where her voyage began

MARINA DEL REY, Calif. – Abby Sunderland, the precocious 16-year-old girl who attempted to sail solo around the world, is returning to the port from which she launched her voyage five months ago, her boat having been abandoned in tatters but her spirit unbroken.
Sunderland flew home to …. Original article  : Rescued teen sailor Abby Sunderland returns to Southern California marina where voyage began.

Taiwan’s Foxconn, facing scrutiny over suicides, planning huge new factory in northern China

Foxconn plans China plant amid suicide scrutiny

SHANGHAI – Foxconn Technology, a supplier to Apple Inc., looks ready to build a huge new factory in north-central China despite the company’s own misgivings about city-sized manufacturing facilities after a spate of suicides among its young migrant work force.
The company plans to recruit some 300,000 workers for the …. Source  : Taiwan’s Foxconn, facing scrutiny over suicides, planning huge new factory in northern China.

Anand Sharma sees UK immigration cap affecting business, investors

LONDON – Visiting Minister of Commerce and Industry Anand Sharma has said Indian business leaders and investors have voiced concerns about the British government’s newly announced cap on migrants from outside the European Union.

“Our business leaders, professionals and … Read more : Anand Sharma sees UK immigration cap affecting business, investors.

World stocks slide ahead of crucial Japan business survey, US jobs data; China off 4.3 percent

World stocks slide ahead of crucial Japan, US data

BANGKOK – World markets slid Tuesday as a mammoth share sale in China dragged Shanghai stocks down more than 4 percent and investors trimmed bets before the release of crucial indicators from the world’s two biggest economies.
Investors were wary of riskier assets like stocks following a fall … Read the original article on Gaea Times at : World stocks slide ahead of crucial Japan business survey, US jobs data; China off 4.3 percent.

Samruddhi Cement Lists At Rs 579.75

MUMBAI, INDIA (GaeaTimes.com)- Samruddhi Cement Ltd today made its mark on BSE (Bombay Stock Exchange) with Rs 588 following it’s de-merger from Grasim Industries. Samruddhi Cement and its debut on bourse is in accordance to the restructuring process of Aditya Birla Group for the cement business.
The company has already listed a equity share worth Rs. …. Original source  : Samruddhi Cement Lists At Rs 579.75.

Rajasthan Electronics bags Rs.300 crore order

NEW DELHI – Rajasthan Electronics and Instruments Limited (REIL) Tuesday said it has got a Rs.300 crore order from the Rajasthan government to set up solar power packs in the state.

Out of the Rs.300 crore, central financial assistance of Rs.92 crore has been sanctioned by the ministry of new and renewable energy, said REIL … Original source on Gaea Times at : Rajasthan Electronics bags Rs.300 crore order.

Scanty rains spark drought fears in Bihar

PATNA – Scanty monsoon rains across have triggered fears that Bihar may be headed for another drought.

Monsoon normally hits the state between June 12 and 14. While the rains have begun, they have been scanty.
This has had farmers in Bihar worrying.
“A weak monsoon has affected paddy sowing. Till date, only 40 percent paddy … Read more >>.

Greek unions hold general strike over proposed pension, labor reforms

Greeks walk off job in general strike over reforms

ATHENS, Greece – Public services shut down across Greece Tuesday as workers walked off the job in a new nationwide general strike that disrupted public transport, left hospitals operating on emergency staff and pulled all news broadcasts off the air.
Tension mounted once more in the country’s main … Read more : Greek unions hold general strike over proposed pension, labor reforms.

SBI fixes base rate at 7.5 percent

MUMBAI – The country’s largest lender, State Bank of India (SBI), Tuesday fixed its base rate for lending at 7.5 percent per annum which would kick in from July 1.

The base rate is the minimum interest a bank has to charge on its loans. The Reserve Bank of India had in February dismantled an earlier …. Source article on Gaea Times at  : SBI fixes base rate at 7.5 percent.

Personal relations boost business negotiations

WASHINGTON – Personal relations and good communication are vital ’soft skills’ that result in successful business negotiations, according to a new doctoral thesis.

“A business negotiation refers to a long-lasting relation with a business contact; it is not a mere meeting where two parties sit down and negotiate a business deal. This implies that long term …. Original article  : Personal relations boost business negotiations.

Profit booking kicks in, Sensex down 211 points

MUMBAI – A key index for Indian equities Tuesday fell 211 points in noon trade after traders chose to book profits and Asian markets turned negative.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,777.95 points, was ruling at 17,562.42 points, 211.84 points or 1.19 percent down from its … Read the original article on Gaea Times at : Profit booking kicks in, Sensex down 211 points.

G8 for security, G20 for economy: PM

ON BOARD AIR INDIA ONE – Returning from the G20 Summit in Toronto, Prime Minister Manmohan Singh Tuesday said the idea was to make G20 the main global forum on economy while G8 will focus on security issues.

“As far as G20 is concerned, it has been agreed that this will be the premier forum for … Read more : G8 for security, G20 for economy: PM.

No tax on overseas capital inflows, says PM

ON BOARD AIR INDIA ONE – In what should be music to the ears of foreign funds, Prime Minister Manmohan Singh Tuesday ruled out tax on capital flows from overseas, saying a situation for that had not arisen.

Called the Tobin Tax, named after Nobel laureate James Tobin, such a levy seeks to discourage capital flows, …. Source  : No tax on overseas capital inflows, says PM.

China, Taiwan sign trade deal further linking their economies 6 decades since split

China, Taiwan sign trade pact linking economies
BEIJING – China and Taiwan signed a tariff-slashing trade pact Tuesday that boosts economic ties and further eases political tensions six decades after the rivals split amid civil war.
Beijing hopes the deal, signed live on on state television, can lead to political accommodation. Taiwan is looking for …. Source article  : China, Taiwan sign trade deal further linking their economies 6 decades since split.

Canadian cos. asked to make India their South Asian hub

TORONTO – Inviting Canadian businesses to India, Planning Commission deputy chairman Montek Singh Ahluwalia Monday said the country could serve as their hub for the South Asian region.

Ahluwalia, who was here with Prime Minister Manmohan Singh for the G-20 summit, said India has posted a robust growth rate of about 8 percent despite the adverse … Read more »».

Opposition calls all-India strike July 5

NEW DELHI – The Left parties, AIADMK, Telugu Desam Party, Samajwadi Party, Biju Janata Dal (BJD), Janata Dal-Secular (JD-S) and the Indian National Lok Dal (INLD) Tuesday called for a countrywide dawn-to-dusk strike July 5 to protest against the fuel price hike.

The parties accused the Congress-led government of giving “another cruel blow” to the … Original source on Gaea Times at : Opposition calls all-India strike July 5.

Diesel prices will also be decontrolled: PM

ON BOARD AIR INDIA ONE – Saying that people will understand the perils of excessive populism, Prime Minister Manmohan Singh Tuesday said diesel prices will also be decontrolled on the lines of petrol last week.

“Subsidies for petroleum products have reached a level which is not connected to sound financial management of our economy,” he told …. Original article on Gaea Times at  : Diesel prices will also be decontrolled: PM.

Asian stocks slide ahead of crucial Japan business survey, US jobs data; China off 3.3 percent

Asian stocks slide ahead of crucial Japan, US data

BANGKOK – Asian markets slid Tuesday as a mammoth share sale in China dragged Shanghai stocks down more than 3 percent and investors trimmed bets before the release of crucial indicators from the world’s two biggest economies.
Investors were wary of riskier assets like stocks following a fall … Read the original article on Gaea Times at : Asian stocks slide ahead of crucial Japan business survey, US jobs data; China off 3.3 percent.

Scope for cooperation in IT changing: Karnik (Interview)

NEW DELHI – The scope for cooperation is changing in the IT industry in new markets, according to former NASSCOM chairman and IT heavyweight Kiran Karnik.

“The focus in new markets is on innovation. Big companies will enter into partnerships with smaller companies that have niche expertise in particular areas either at home or abroad,” Karnik … Original source on Gaea Times at : Scope for cooperation in IT changing: Karnik (Interview).

German unemployment rate declines to 7.5 percent in June as recovery continues

German jobless rate down to 7.5 percent
BERLIN – Germany’s unemployment rate declined to 7.5 percent in June thanks to an improving economy and a traditional springtime upturn, official data showed Wednesday.

The unadjusted jobless rate was down from 7.7 percent in May, with the number of people registered as unemployed dropping by 88,000 to 3.153 million, …. Original article on Gaea Times at  : German unemployment rate declines to 7.5 percent in June as recovery continues.

World stocks mixed as concerns mount over global economic recovery

World stocks mixed as growth doubts mount
BANGKOK – World markets were mixed Wednesday, with major indexes in Asia closing lower but markets elsewhere on the upswing despite concerns the global economic recovery has lost steam.

Oil prices hovered near $76 a barrel in Asia as plunging stock markets undermined the confidence of crude traders. The dollar … Read more »»».

Fuel supplies to Kashmir suspended

JAMMU – Alleging that drivers of petrol tankers were assaulted in the Kashmir Valley, a traders-body Wednesday suspended fuel supplies there, an official said.

“Protesters in Kashmir assaulted the drivers of the petrol tankers. Some of the tankers were also damaged by those pelting stones,” Jammu and Kashmir Oil Tankers Association president Anan Sharma told reporters … Read this article on Gaea Times at : Fuel supplies to Kashmir suspended.

Oil hovers near $76 in Asia as plunging equities offset US crude supply drop

Oil hovers near $76 as stock markets sell off

SINGAPORE – Oil prices hovered near $76 a barrel Wednesday in Asia as plunging stock markets undermined the confidence of crude traders, offsetting signs of improving U.S. demand.
Benchmark crude for August delivery was up 28 cents to $76.22 a barrel at late afternoon Singapore time in electronic … Original source on Gaea Times at : Oil hovers near $76 in Asia as plunging equities offset US crude supply drop.

ONGC signs new oil and gas block contracts

NEW DELHI – State-run Oil and Natural Gas Corporation (ONGC) along with its partners Wednesday signed production sharing contracts (PSCs) for 31 oil and gas blocks awarded to 23 companies in the eighth round of auction under the New Exploration Licensing Policy VIII (NELP VIII).

Petroleum and Natural Gas Minister Murli Deora and Law and Justice …. Original article  : ONGC signs new oil and gas block contracts.

Sensex rebounds in afternoon trade, up 62 points

MUMBAI – A key index for Indian equities Wednesday crawled back to positive terrain in afternoon trade after a weak morning session as other Asian markets tumbled over lower consumer confidence data from the US.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,476.85 points, was ruling at 17,596.16 points, …. Source  : Gaea News Network.

Spain’s Telefonica ups bid for Brazil’s Vivo to ???7.15B ($8.72B) just before shareholder vote

Spain’s Telefonica raises bid for Brazil’s Vivo

LISBON, Portugal – Spain’s Telefonica raised its bid for Brazil’s leading cell phone company Vivo to euro7.15 billion ($8.72 billion) from euro6.5 billion just before a shareholder vote Wednesday on the unsolicited offer.
Telefonica SA and Portugal Telecom each own 50 percent of Brasilcel, a holding company which in turn … Original article on : Spain’s Telefonica ups bid for Brazil’s Vivo to ???7.15B ($8.72B) just before shareholder vote.

AstraZeneca shares jump in London after US court victory to protect cholesterol drug patent

AstraZeneca shares surge on court victory
LONDON – Shares in AstraZeneca rose sharply in London Wednesday after the drug company won a U.S. court ruling to protect a patent for its blockbuster cholesterol drug, Crestor.

The U.S. District Court in Delaware ruled on Tuesday that a key patent for Crestor was valid, the company said. AstraZeneca sold … Read this article on Gaea Times at : AstraZeneca shares jump in London after US court victory to protect cholesterol drug patent.

British government for “good relations” with the Tatas

LONDON – The new British government wants “good relations” with the Tata Group, which owns the Jaguar Land Rover, and the steel giant Corus, even as it has warned of an end to direct state support to carmakers.

Business secretary Vince Cable, who will soon visit India to boost industry-level ties, said he recently met … Read : British government for “good relations” with the Tatas.

Smoking ban not related to job losses in bars, restaurants: Study

WASHINGTON – Banning smoking in restaurants and pubs has no link to job losses at bars – in fact, it may have boosted employment, according to new research.

In both Minneapolis and St. Paul, the policies were associated with an increase of at least 3 percent in employment at restaurants over a 2 1/2-year span following …. Original article  : Smoking ban not related to job losses in bars, restaurants: Study.

Honey trade tainted by dirty dealings as some Chinese makers try to skirt US import taxes

Chinese honey trade tainted by dirty dealings

BEIJING – Businessman Yan Yongxiang was trying to get around stiff U.S. levies on imports of cheap Chinese honey. So he sent 15 shipping containers of cut-rate honey to the Philippines, where it was relabeled and sent on to the United States.
It’s called honey-laundering, and the subterfuge let Yan …. Read the original article  : here.

Democrats, making patches to secure Senate votes, move banking overhaul bill closer to passage

Bank bill gets patched up, moves closer to passage
WASHINGTON – Congressional Democrats are inching closer to passage of a major rewrite of financial industry regulations, making fixes as they go.
House and Senate negotiators hoped for a vote in the House on Wednesday and to secure the votes of three straying Republicans … Read more : Democrats, making patches to secure Senate votes, move banking overhaul bill closer to passage.

Senate Democrats combine jobless benefits, homebuyer tax credit in effort to get GOP support

Senate combines jobless benefits, homebuyer credit

WASHINGTON – Senate Democrats are working on a new way to jump-start their stalled election-year jobs agenda while saving unemployment benefits for hundreds of thousands of laid-off workers.
The plan is to package, in one bill, the unemployment benefits and an extension of a popular tax credit for people who buy … Original article on : Senate Democrats combine jobless benefits, homebuyer tax credit in effort to get GOP support.

In Wisconsin appearance, Obama looks to restore consumer confidence in nation’s economy

Obama trying to restore confidence in economy
WASHINGTON – A day after consumer concerns about the economy sent stocks sliding, President Barack Obama is trying to assure the American people that the economic recovery is headed in the right direction.
Obama is visiting Wisconsin on Wednesday to speak about the economy in Racine … Read : In Wisconsin appearance, Obama looks to restore consumer confidence in nation’s economy.

Marks and Spencer to open 50 stores in India in 3 years

LONDON – British high street retailer Marks and Spencer (M&S) is to more than double its retail presence in India, targeting 50 stores in the next three years.

M&S currently operates 17 stores in India through a joint venture with Reliance Retail. Last week it opened its latest store in Chennai.
A spokesperson for M&S told …. Original article  : Marks and Spencer to open 50 stores in India in 3 years.

We will invest heavily in India ties: Obama adviser

WASHINGTON – President Barack Obama’s top economic adviser says the United States would continue to invest heavily in its ties with India, seen as one of Washington’s most important relationships over the next generation.

“I don’t think there’s any question but that the relationship with India is going to be one of the most important relationships …. Source  : We will invest heavily in India ties: Obama adviser.

Neyveli Lignite workers to strike work

CHENNAI – Two major unions of the Neyveli Lignite Corp Ltd (NLC) in Tamil Nadu have announced their decision to go on strike from Wednesday night after the failure of wage revision talks.

Around 2,000 police personnel have been deployed near the mines, power plant and the corporate office in a bid to prevent any …. Source  : Gaea News Network.

State Bank of India sets base rate for lending at 7.5 percent per annum

MUMBAI – The State Bank of India (SBI) has set its base rate for lending at 7.5 per cent per annum, after the Reserve Bank of India (RBI) introduced the new lending rate system.

Addressing a press conference here on Tuesday, Om Prakash Bhatt, Chairman of SBI, said: “The base rate would be effective …. Read the original article  : State Bank of India sets base rate for lending at 7.5 percent per annum.

$780 Mn World Bank loan for improving Mumbai train system

WASHINGTON – The World Bank has approved $430 million to finance further improvement of Mumbai’s suburban railway system, considered the lifeline of the megacity with a population of nearly 15 million.

The Bank’s Board Tuesday also approved $350 million to finance the Dam Rehabilitation and Improvement Project which aims to improve the safety and sustainable performance …. Source article  : $780 Mn World Bank loan for improving Mumbai train system.

Sensex weak in morning trade, Asian markets in red

MUMBAI – A key index for Indian equities Wednesday was ruling on a weak note amid negative Asian cues.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,476.85 points, was ruling at 17,497.96 points, 36.13 points or 0.21 percent down from its previous close at 17,534.09 points.
At the …. Original article on Gaea Times at  : Sensex weak in morning trade, Asian markets in red.