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.

Hyundai domestic sales up by about 19 percent

NEW DELHI – Hyundai Motor India Ltd, the country’s second largest car manufacturer and the largest passenger car exporter, continued to be on a growth trajectory with the domestic sales growing by 18.9 percent in June 2010 over the same month last year.

HMIL domestic sales in June 2010 was 27,366 as opposed to … Read more >>.

TVS Motor logs 36 percent sales growth in June

CHENNAI – Two wheeler manufacturer TVS Motor Company has clocked a 36 percent increase in sales last month as compared to the volume it logged in June 2009.

The company last month sold 156,685 two wheelers (domestic 139,905 units, exports 16,780 units) as against 115,448 units (domestic 105,361 units, exports 10,087 units) in June 2009.
Within …. Source article on Gaea Times at  : TVS Motor logs 36 percent sales growth in June.

World stocks fall on worries over Europe after Spain warned of downgrade, China slowdown

World stocks down on Europe, China growth doubts

BANGKOK – World stock markets were in retreat Thursday amid new concerns about Europe’s economic outlook after a warning Spain’s debt rating may be downgraded and evidence that China’s manufacturing growth is slowing.
Oil prices fell below $75 a barrel in Asia as wilting stock markets dragged down the … Read more »».

Retail sales gain offers hope for German domestic demand; minister defends export strength

German consumer spending shows signs of life
BERLIN – A small rise in retail sales offered a hopeful sign Thursday for Germany’s long-sluggish domestic demand, even as the country’s economy minister mounted a robust defense of its export-heavy recipe for success.
Retail sales were up 0.4 percent on the month in May following declines in …. Read the original article  : Retail sales gain offers hope for German domestic demand; minister defends export strength.

World’s first flying car gets green signal to take-off (Lead, changing dateline)

TORONTO – The world’s first flying car, which was caught in a legal snarl in the US, has finally been given the green signal.

Being developed by Boston-based Terrafugia Transition since 2006, the dual-purpose car-cum-plane vehicle called ‘the flying car’ has got the waiver on its weight from the American Federal Aviation Administration (FAA).
Under FAA … Read the original article on Gaea Times at : World’s first flying car gets green signal to take-off (Lead, changing dateline).

RBI announces rate of interest on Floating Rate Bonds 2015

The rate of interest on the Floating Rate Bonds, 2015 (FRB, 2015) applicable for the year (July 2, 2010 to July 1, 2011) shall be 5.66 percent per annum.
It may be recalled that the rate of interest on the FRB, 2015 was set at …. Original article on Gaea Times at  : RBI announces rate of interest on Floating Rate Bonds 2015.

RBI announces rate of interest on Floating Rate Bonds, 2017

The rate of interest on the Floating Rate Bonds, 2017 (FRB, 2017) applicable for the half-year (July 2, 2010 to January 1, 2011) shall be 5.56 per cent per annum.
It may be recalled that the rate of interest on the FRB, 2017 was set at a mark-up (as decided …. Original article  : RBI announces rate of interest on Floating Rate Bonds, 2017.

Food inflation cools down to 12.9 percent

NEW DELHI – India’s annual food inflation slowed to 12.9 percent for the week ended June 19 due to what analysts said a weakening base effect.

The food inflation was at 16.9 percent during the previous week.
A 40 per cent fall in potato prices and 7 per cent decline in onion prices and single-digit rises …. Source  : Food inflation cools down to 12.9 percent.

Union: SoCal port clerks striking after contract expires without new pact

SoCal port clerks striking after contract expires

LOS ANGELES – Clerical workers at several terminals at the country’s busiest port complex went on strike after their contract expired early Thursday without a new labor agreement, a union spokesman said.
There was no extension when the labor contract elapsed at 12:01 a.m. PDT Thursday, said Stephen Berry, lead [..] Read the original article: here.

Certificate of Registration of M/s. Greenbay Finance and Investments Limited ??? Cancelled

The Reserve Bank of India has on June 7, 2010 cancelled the certificate of registration granted on March 11, 1998 to M/s. Greenbay Finance and Investments Limited having its registered office at Plot No. 15 & 16, Road No. 9, Jubilee Hills, Hyderabad – 500 033 for carrying …. Source article  : Certificate of Registration of M/s. Greenbay Finance and Investments Limited ??? Cancelled.

Certificate of Registration of Zoom Exports Limited ??? Cancelled

The Reserve Bank of India has on June 3, 2010 cancelled the certificate of registration granted on May 24, 2000 to Zoom Exports Limited having its registered office at 98, Hardsoft Towers, 21st Main, Banashankari 2nd Stage, Bangalore – 560070 for carrying on the business of a …. Source article on Gaea Times at  : Certificate of Registration of Zoom Exports Limited ??? Cancelled.

Swedish central bank hikes key interest rate by 0.25 pctage points to 0.5 percent

Swedish central bank ups interest rate to 0.5 pct

STOCKHOLM – The Swedish central bank on Thursday raised its key interest rate by a quarter percentage point to 0.5 percent for the first time in two years, saying the economy is recovering strongly from last year’s global downturn.
The central bank has kept the key repo rate … Original article on : Swedish central bank hikes key interest rate by 0.25 pctage points to 0.5 percent.

Nagarjuna leads race for India-Nepal border check post project

KATHMANDU – A joint venture between Indian construction major Nagarjuna Construction Company and Mumbai’s inter-border check post specialist KS Softnet Solutions is leading the race for a government of India-funded Rs.87 crore project on the India-Nepal border.

Out of six Indian companies who bid for the construction of the integrated check post (ICP) in Birgunj in …. Source  : Gaea News Network.

China allows duty-free access to Bangladesh goods

DHAKA – Beginning Thursday, China will provide duty-free entry to major Bangladeshi products with an aim to offset the annual trade gap of $2.5 billion.

The new arrangement follows top level parleys. Prime Minister Sheikh Hasina went to Beijing and Chinese Vice President Xi Jinping was here last month when a series of pacts were signed. …. Source  : Gaea News Network.

Himachal gets 34 percent more rain in June

SHIMLA – Himachal Pradesh received 34 percent more rain than the average for this time last month despite a delayed monsoon, the weatherman said Thursday.

“The state got 34 percent more rain in June. It got 126 mm of rain against the normal of 94.1 mm,” Manmohan Singh, director of the meteorological office here, told IANS. …. Source  : Himachal gets 34 percent more rain in June.

China’s Xinhua News Agency launches international English TV network this week

China launches global 24-hour English TV news

BEIJING – China’s biggest national news agency launched its global, English-language television news network on Thursday as part of efforts to expand the communist government’s influence abroad.
Experts say China’s media expansion also results from unhappiness with much of the international coverage of sensitive events in China such as Tibet …. Source article on Gaea Times at  : China’s Xinhua News Agency launches international English TV network this week.

Google fails to make China’s mapping list

BEIJING – Google Inc has not found a place on the initial list of companies that China plans to approve to provide online mapping services in the country, a media report said Thursday.

Twenty-three domestic companies including Baidu, Alibaba and Sohu are among those expected to be granted a licence to provide the services, the State …. Original source  : Google fails to make China’s mapping list.

In Mass., lawmakers torn between casinos’ lure and state’s Puritan roots, public health credos

In Mass., a politically correct casino debate

BOSTON – Massachusetts lawmakers enthralled with the lure of easy casino cash are having a tough time squaring the 24-hour world of smoke-filled, free-booze gambling haunts with the state’s Puritan roots and high-minded liberal reputation.
During lengthy debates in the Massachusetts House and Senate, legislators have weighed all sorts of …. Source  : Gaea News Network.

SoCal port clerks’ contract expires, no new agreement or extension

SoCal port clerks’ contract expires
LOS ANGELES – A contract between 900 clerical workers and shipping companies at the nation’s busiest port complex has expired without a new agreement.

The current contract expired at 12:01 a.m. Thursday and there is no extension, said Stephen Berry, lead negotiator for the Harbor Employers Association which represents 14 shippers and … Original source on Gaea Times at : SoCal port clerks’ contract expires, no new agreement or extension.

Fortis offers to buy entire Parkway holding

MUMBAI – India’s Fortis Healthcare Thursday offered to buy out the entire stake of Singapore’s Parkway Holdings, which operates 16 hospitals in the Asia-Pacific region, topping a bid by rival Malaysian state fund Khazanah.

Fortis Healthcare, promoted by brothers Malvinder and Shivinder Singh, had bought a 24-percent stake in Parkway Holdings for $685.3 million, but has … Original article on : Fortis offers to buy entire Parkway holding.

Spokesman for striking Los Angeles-Long Beach port clerks says contract talks may resume

Talks could resume in SoCal port clerk strike

LOS ANGELES – Negotiators for the striking clerical workers at the ports of Los Angeles and Long Beach have agreed to restart contract talks with shippers and terminal operators soon, a union representative said.
John Fageaux Jr., president of the International Longshore Warehouse Union local that represents the workers, … Read more »»».

World markets mixed ahead of key US jobs report amid fears of slowing global recovery

World markets mixed ahead of US jobs report

SINGAPORE – World stock markets were mixed Friday as investors awaited a crucial reading on the U.S. jobs market that comes amid signs economic recovery is losing momentum around the world.
The choppy trading in Asia and Europe followed Wall Street beginning the third quarter with another loss after …. Original article on Gaea Times at  : World markets mixed ahead of key US jobs report amid fears of slowing global recovery.

Schwarzenegger’s minimum wage order pressures lawmakers, unions in budget battle

Calif. gov pressures lawmakers in budget battle

SACRAMENTO, Calif. – Gov. Arnold Schwarzenegger’s order to pay 200,000 state workers just the minimum wage sent a signal to California lawmakers: In the impasse over closing California’s $19 billion budget deficit, Schwarzenegger is ready to play hardball.
The Legislature’s deadline to send a spending plan to the governor passed …. Source  : Schwarzenegger’s minimum wage order pressures lawmakers, unions in budget battle.

Indian mines minister to visit Canada

TORONTO – Close on the heels of India and Canada signing a memorandum of understanding (MoU) in mining last week, India’s mines minister Bijoy Krishna Handique will visit Canada next week to invite leading mining companies to India. Canada is home to the largest number of mining companies in the world.

During his visit from … Read this article on Gaea Times at : Indian mines minister to visit Canada.

RBI releases draft Guidelines on Compensation of Whole Time Directors/CEOs/Risk takers and Control Function Staff of Private Sector and Local Area Banks and Foreign Banks operating in India

The Reserve Bank today released on its website, draft guidelines (www.rbi.org.in/scripts/bs_viewcontent.aspx?Id=2223) on compensation of whole time directors/chief executive officers/risk takers and control function staff of private sector and local area banks and all foreign banks operating in India for comments and feedback. Comments/feedback on the draft guidelines may …. Source  : Gaea News Network.

Oil hovers near $73 in Asia as investors look to US jobs report amid pessimism about economy

Oil hovers near $73 as traders eye US jobs report

SINGAPORE – Oil prices hovered near $73 a barrel Friday in Asia as investors look to the monthly U.S. jobs report for clues about the strength of global crude demand.
Benchmark crude for August delivery was up 15 cents to $73.10 a barrel at late afternoon Singapore …. Original source  : Oil hovers near $73 in Asia as investors look to US jobs report amid pessimism about economy.

India out of Nepal’s new passport deal

KATHMANDU – Amid growing security concerns in India about the misuse of Nepali passports, Indian companies seeking to bid for a fresh passport deal in Nepal have crashed out due to unfavourable yardsticks.

India’s state-owned Security Printing and Minting Corporation of India Ltd (SPMCIL), which had been awarded the contract to print modern, machine-readable Nepali passports …. Source article on Gaea Times at  : India out of Nepal’s new passport deal.

Spain jobless claims down 2 percent in June, third straight monthly decline

Spain jobless claims down sharply in June
MADRID – Spain says the number of people seeking unemployment benefits fell by nearly 84,000 in June as companies stepped up hiring for the summer tourism season.

The 2 percent drop marked the third straight monthly decline and made for the best month of June – traditionally good for job-creation …. Original source  : Spain jobless claims down 2 percent in June, third straight monthly decline.

SAIL’s Bhilai unit records best ever Q-1 output

RAIPUR – Bhilai Steel Plant, the highest profit-making unit of India’s largest steel maker in the public sector, Steel Authority of India Ltd (SAIL), has recorded the best ever first quarter (April-June) output, the plant said Friday.

“The plant recorded the best ever hot metal production of 1.39 million tonne (MT) in first quarter in fiscal …. Source  : Gaea News Network.

Their ‘moon shot’: Blind organization to showcase vehicle that can be driven by the blind

Group to show car that can be driven by the blind

WASHINGTON – For advocates of the blind, it’s akin to reaching the unreachable goal of landing a man on the moon: developing a vehicle that a blind person could drive.
The National Federation of the Blind and Virginia Tech plan to demonstrate a prototype vehicle next …. Read the original article  : here.

No green means no red-white-and-blue spectacular for some towns, cities this July Fourth

No bucks, no boom for the Fourth
WASHINGTON – Expect fewer booms this July Fourth because of financial busts in some cities and towns.

As many folks pack up picnics and head to see the fireworks this holiday weekend, the skies over a couple-dozen cash-strapped communities will be missing the spectacular crackle of color that Americans associate …. Read the original article  : here.

Opera house v. tennis dome: Kan. race for Senate reveals tricky business of earmarks

Kan. race shows earmarks are tricky business

McPHERSON, Kan. – For some members of Congress, bringing home the bacon isn’t what it used to be. And for two of them seeking represent Kansas in the U.S. Senate, it’s become a bad career move.
U.S. Rep. Jerry Moran is locked in a bitter primary fight for the Republican … Read this article on Gaea Times at : Opera house v. tennis dome: Kan. race for Senate reveals tricky business of earmarks.

Sensex crawls up after a brief slip, Asia weak

MUMBAI – A key index for Indian equities Wednesday crawled back into the green after a brief slip into the red, even as other Asian markets took a tumble.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,523.47 points, was ruling at 17,548.21 points, 38.88 points or 0.22 percent up … Read more »»».

UK’s Chloride accepts Emerson’s sweetened takeover bid

UK’s Chloride accepts Emerson’s takeover bid

LONDON – British power supply company Chloride Group said Friday that it has accepted an improved takeover bid from U.S. competitor Emerson Electric Co. that values it at 997 million pounds ($1.5 billion).
Chloride said its board unanimously recommended that shareholders accept Emerson’s offer of 375 pence per share.
Emerson clinched the …. Source article on Gaea Times at  : UK’s Chloride accepts Emerson’s sweetened takeover bid.

Now, read comics on your mobile phone

NEW DELHI – Comics’ publishers, once lamenting dropping sales as youth turn to the internet and other media for entertainment, are now laughing all the way to the bank after providing their works on mobile phones to attract the generation on the move.

According to industry estimates, two major comics publishers – Amar Chitra Katha and …. Original article  : Now, read comics on your mobile phone.

ITA Software Acquired By Google

SAN FRANCISCO, (GaeaTimes.com)- ITA Software which happens to a flight-information software company has been acquired by Google. Reportedly, the world’s largest search engine plans to venture into travel business and have fixed a deal to purchase ITA Software for a whopping sum of $700 million in cash.
The decision to acquire ITA Software was announced …. Original source  : ITA Software Acquired By Google.

Finnair plans to reduce emissions by 41 percent by 2017

NEW DELHI – Nordic carrier Finnair says it plans to reduce aircraft emissions by 41 percent by 2017 through continuing fleet renewals.

“Our goal is to reduce emissions between 2009 and 2017 by 24 percent per seat and per 100 kilometres. Between 1999 and 2009 we succeeded in reducing emissions by 22 percent. Our ambitious …. Source  : Gaea News Network.

Asian markets mostly down ahead of key US jobs report amid fears of slowing global recovery

Asia stocks mostly down ahead of US jobs report

SINGAPORE – Most Asian stock markets posted losses Friday as investors awaited a crucial reading on the U.S. jobs market that comes amid signs economic recovery is losing momentum around the world.
The downdraft in Asia followed Wall Street beginning the third quarter with another loss after reports …. Source article  : Asian markets mostly down ahead of key US jobs report amid fears of slowing global recovery.

Gazans endure worst power cuts in 4 years, as political rivals quarrel over electricity bill

Longer blackouts for Gaza, as politicians quarrel

GAZA CITY, Gaza Strip – An escalating dispute between the rival Palestinian governments over who should pay Gaza’s electricity bill has caused some of the worst power cuts here in years, leaving Gazans stewing in sweltering heat and cursing politicians of all stripes.
Gazans are used to daily blackouts, especially … Original article on : Gazans endure worst power cuts in 4 years, as political rivals quarrel over electricity bill.

Australia relents on ’super tax’ on mineral company profits, aims for smaller resource tax

Australia relents on contentious mining profit tax

CANBERRA, Australia – Australia’s government on Friday retreated from a planned 40 percent tax on booming profits in the mining industry, defusing a damaging row with big business and clearing the way for national elections to be called at any time.
Mining companies had campaigned mightily against the proposed tax, …. Original article on Gaea Times at  : Australia relents on ’super tax’ on mineral company profits, aims for smaller resource tax.

Opposition gears up for nationwide shutdown

NEW DELHI – Normal life is expected to be hit in parts of India Monday as the divided opposition joins hands to enforce a nationwide shutdown to protest against rising prices and the fuel price hike.

For the first time in a long time, while still remaining ideologically poles apart, the Left and Right are separately … Read more >>>.

Boards of two energy firms of Anil Ambani group to decide merger

MUMBAI – The boards of two energy firms belonging to the Reliance Anil Dhirubhai Ambani Group (ADAG), one in the business of generating power and the other that trades and transports oil and gas, meet Sunday to consider a merger.

The companies in question are Reliance Natural Resources which is proposed to be merged with Reliance …. Original article on Gaea Times at  : Boards of two energy firms of Anil Ambani group to decide merger.

Clinton arrives in Poland; on her agenda, speaking on democracy, re-signing of missile pact

Clinton arrives in Poland to promote democracy

KRAKOW, Poland – US Secretary of State Hillary Rodham Clinton has arrived in the Polish city of Krakow to speak at an international conference on the promotion of democracy.
She also was to witness the signing of a technical amendment to a US-Poland agreement on missile defense.
The amendment adjusts an … Read : Clinton arrives in Poland; on her agenda, speaking on democracy, re-signing of missile pact.

Haryana mango production soars

CHANDIGARH – Mango cultivation is gaining ground in Haryana with its production and area under cultivation increasing by nearly three times in two decades, an official said Saturday.

Financial Commissioner Roshan Lal said that mango production went up from 19,900 tonnes in 1990-91 to 64,570 tonnes in 2009. He attributed this to the use of latest … Read more >>>.

Negotiator says contract talks with striking LA-Long Beach port clerks resume

Talks resume in California port clerk strike

LOS ANGELES – Negotiators for striking clerical workers and shippers at the ports of Los Angeles and Long Beach are talking again.
Stephen Berry, lead negotiator for the Harbor Employees Association which represents the shippers, said that talks resumed Friday night and concluded shortly before midnight. Talks were set to … Read : Negotiator says contract talks with striking LA-Long Beach port clerks resume.

Haryana to have nuclear energy centre

CHANDIGARH – The Department of Atomic Energy (DAE) will set up a Global Centre for Nuclear Energy Partnership in the adjoining villages of Jasaur Kheri and Kheri Jasaur in Haryana’s Jhajjar district, officials said Saturday.

The centre’s project director, G.P. Srivastav, and other DAE officials visited the site Friday to inspect it.
Srivastav said four schools … Original source on Gaea Times at : Haryana to have nuclear energy centre.

Philanthropy can be profit in disguise for corporates

NEW DELHI – If, as a corporate, you that think employing a physically challenged person is just philanthropy, think again. It may actually benefit your business if you harness the talent in the right way. The idea of bringing corporates and the physically challenged closer for mutual gain is part of an NGOs initiative aimed …. Read the original article  : Philanthropy can be profit in disguise for corporates.

Delhi’s new airport terminal inaugurated by PM (Second Lead)

NEW DELHI – Prime Minister Manmohan Singh Saturday inaugurated a glitzy new terminal at the Indira Gandhi International Arport here, stated to be the sixth largest and among the most modern in the world, built in record 37 months at a cost of nearly $3 billion.

The actual operations though will start July 16 for international …. Original article  : Delhi’s new airport terminal inaugurated by PM (Second Lead).

American business seeks incentives for educational investment in India

WASHINGTON – The US-India Business Council has expressed support for the Foreign Education Bill pending before the Indian parliament, but said certain financial requirements could deter foreign educational institutions from investing in India.

In a letter to Human Resource Development Minister Kapil Sibal, the trade association representing over 300 leading US firms investing in India said …. Read the original article  : American business seeks incentives for educational investment in India.

PM inaugurates new international airport terminal

NEW DELHI – Prime Minister Manmohan Singh Saturday inaugurated the new Terminal 3 of the Indira Gandhi International Airport (IGIA) here.

The prime minister unveiled a plaque to mark the opening at 10.40 a.m. at a function also attended by United Progressive Alliance (UPA) chairperson Sonia Gandhi.
Civil Aviation Minister Praful Patel, Delhi Chief Minister …. Read the original article  : PM inaugurates new international airport terminal.

Dolphin-hunting documentary ‘The Cove’ screens in Japan after protests delay opening

Japan shows ‘The Cove’ after delay from protests

TOKYO – “The Cove,” an Oscar-winning film about a Japanese dolphin-hunting village, opened Saturday around Japan after protests by angry nationalists pressured theaters to cancel earlier showings.
Some of the six small cinemas sold out their initial shows and others were mostly empty. Another 18 are due to begin …. Source  : Dolphin-hunting documentary ‘The Cove’ screens in Japan after protests delay opening.

New terminal in New Delhi opens

NEW DELHI – Prime Minister Manmohan Singh Saturday inaugurated the new Terminal 3 of the Indira Gandhi International Airport (IGIA) here.

The prime minister unveiled a plaque to mark the opening at about 10.40 a.m. at a function also attended by United Progressive Alliance (UPA) chairperson Sonia Gandhi.
…. Source article on Gaea Times at  : New terminal in New Delhi opens.

Negotiator says contract talks with striking LA-Long Beach port clerks to restart Friday night

Talks to resume in California port clerk strike

LOS ANGELES – Negotiators for striking clerical workers at the ports of Los Angeles and Long Beach planned to restart contract talks Friday night with shippers and terminal operators.
The Harbor Employees Association, which represents the shippers, said in a statement that its negotiators will meet “in the hope … Read : Negotiator says contract talks with striking LA-Long Beach port clerks to restart Friday night.

Main Event: Cavaliers, Bulls set to square off with final-day pitches to LeBron James

Bulls, Cavs prepared to fight for LeBron
CLEVELAND – The preliminary bouts are finished. It’s time for the main event in the fight for LeBron James, free agent extraordinaire.

Chicago vs. Cleveland.
To the winner, the crowned King. Maybe.
With New Jersey, New York, Miami and the Los Angeles Clippers having come and gone after making their pitches to … Read more : Main Event: Cavaliers, Bulls set to square off with final-day pitches to LeBron James.

Product Recalls: dog treats

Product Recalls: dog treats
The following recall has been announced:

- Merrick Pet Care Inc. is recalling one lot of 10-ounce bags of Beef Filet Squares for Dogs because the dog treats could be contaminated with salmonella. Salmonella can affect animals, and people who handle contaminated pet food can become infected with salmonella, especially if they haven’t …. Source  : Product Recalls: dog treats.

Summary Box: Interest rates post small moves after government says job growth remains weak

Summary Box: Treasurys move modestly on jobs data

MODEST MOVES: Interest rates were little changed in the bond market Friday after the government said private employers hired fewer workers in June than analysts had forecast.
WEAK SHOWING: The government said private employers hired 83,000 workers last month, below economists’ forecast for a gain of 112,000 jobs. Overall, … Read : Summary Box: Interest rates post small moves after government says job growth remains weak.

More people traveling this year for July 4th, though many still stick close to home

July 4th travel rolls on, a little close to home

PHILADELPHIA – Standing in line on hot asphalt waiting to see the Liberty Bell, Don Shelley couldn’t help but think that, if the nation’s economy were better, he would be basking on a beach in Hawaii.
Shelley, of Mesa, Ariz., turned 50 on Friday, and his wife … Read : More people traveling this year for July 4th, though many still stick close to home.

Summary Box: Stocks drop 7th day in the longest slump since the height of the financial crisis

Summary Box: Stocks fall after jobs disappoint

EXTENDED SLIDE: The Dow Jones industrials fell 46 points Friday for their seventh straight drop. It was the longest losing streak since October 2008, the height of the financial crisis.
JOB STRESS: A disappointing jobs report brought more worries about the pace of the economy’s recovery. The government said private …. Source  : Gaea News Network.

Nev. lawmaker seeks to repeal parts of 1875 eminent domain law that favor mining companies

Mining co., Nev. ranch settle eminent domain suit

RENO, Nev. – A state lawmaker said Friday she wants to repeal provisions of an 1875 state law that give mining companies essentially the same power of eminent domain as government.
Assemblywoman Sheila Leslie, D-Reno, announced her plans a day after a Canadian-based mining company and a Nevada ranch …. Source  : Nev. lawmaker seeks to repeal parts of 1875 eminent domain law that favor mining companies.

Person familiar with talks says Bucks, Salmons agree to $40 million, 5-year deal

AP source: Bucks, Salmons agree for $40M
MILWAUKEE – Another day, another deal for the Milwaukee Bucks, who have suddenly become one of the biggest buyers during the most-hyped free agency period in NBA history.

The Bucks made another major move Friday, agreeing in principle to a $40 million, five-year deal with free agent guard John Salmons, …. Source article on Gaea Times at  : Person familiar with talks says Bucks, Salmons agree to $40 million, 5-year deal.

New road links Sharjah with Dubai, Abu Dhabi

Dubai, July 4 (IANS/WAM) A new 70 km-long road linking the emirate of Sharjah, Dubai and Abu Dhabi has been completed that will benefit motorists.

The Roads and Transport Authority (RTA) of the UAE has completed the construction of Dubai Bypass Road.
All phases of the construction of the project, costing over one billion dirhams (about …. Read the original article  : New road links Sharjah with Dubai, Abu Dhabi.

After new terminal, Delhi airport to have multi-level parking

NEW DELHI – Driving to the Indira Gandhi International (IGI) Airport here and worried about finding parking space? Not any more. Come July 16 and the new Terminal-3 (T3) will boast of the largest multi-level car parking (MLCP) facility in the country, with a capacity of 4,300 cars.

“For an infrastructure facility like an airport, a …. Source  : After new terminal, Delhi airport to have multi-level parking.

Indian packaging firm eyes African market

DUBAI – India’s leading flexible packaging company UFLEX is all set to make ambitious forays into Africa with its state-of-the-art plant in Egypt starting production this month.

“We have set up a manufacturing unit in Egypt for producing flexible packaging material such as polyester films which would help us to cater to African countries more efficiently. …. Read the original article  : Indian packaging firm eyes African market.

Brazil’s Embraer proposes regional jets for India

Sao Jose dos Campos,BRAZIL – A growing appetite among Indian carriers to serve regional routes makes the country a potentially big market for 250 regional jets with a capacity of up to 120 seats, Brazil’s aircraft maker Embraer.

In India, around 250 low-to-medium-density routes remain unused, as they are not profitable to run with narrow-bodied aircraft. … Original source on Gaea Times at : Brazil’s Embraer proposes regional jets for India.

Dubai World’s Nakheel property arm gets control of Limitless real estate unit in reshuffle

Dubai World further reshuffles business units

DUBAI, United Arab Emirates – The main property unit of Dubai World has been given control of another real estate company run by the indebted state conglomerate.
Dubai’s media office said in a statement dated Saturday that Dubai World’s Nakheel division will assume management responsibility for the conglomerate’s Limitless unit.
The company … Read this article on Gaea Times at : Dubai World’s Nakheel property arm gets control of Limitless real estate unit in reshuffle.

Land of Krishna protests ban on peacock feather trade

VRINDAVAN – The national bird needs to be protected, but there is a flip side to the proposed ban on the domestic trade of peacock feathers.

Just ask the hundreds of workers who earn their living selling products made from the multi-hued feathers.
In this land of the Hindu god Krishna, always portrayed with a peacock … Read the original article on Gaea Times at : Land of Krishna protests ban on peacock feather trade.

Negotiator says little progress in contract talks with striking LA-Long Beach port clerks

Talks resume but progress slow in LA port strike

LOS ANGELES – There has been “little progress” despite hours of late-night and weekend talks between striking clerical workers and shipping companies at the nation’s busiest port, negotiators said Saturday.
Stephen Berry, lead negotiator for the Harbor Employees Association, which represents the shippers, said talks for much of … Read more >>>.

Wave of Oregonians nearing end of jobless benefits; state extension is ending for 3,000

Wave of Oregonians nearing end of jobless benefits

EUGENE, Ore. – Oregonians by the thousands are using up the last of their unemployment benefits, many after as long as two years.
So far this year, more than 14,000 Oregonians have run out of jobless benefits, the state Employment Department reported Friday. That includes about 3,000 people drawing …. Original article  : Wave of Oregonians nearing end of jobless benefits; state extension is ending for 3,000.

Colorado company recalls 66,000 pounds of bison meat after link to E. coli sicknesses

Colorado bison meat recalled after link to E. coli

HENDERSON, Colo. – A Colorado company has recalled 66,000 pounds of bison meat sold nationwide after federal agriculture officials linked it to E. coli sicknesses.
Rocky Mountain Natural Meats in Henderson recalled the ground and tenderized bison after it was linked to sickening five people in Colorado and …. Read the original article  : Colorado company recalls 66,000 pounds of bison meat after link to E. coli sicknesses.

SBI’s West Bengal staff association defer stir

KOLKATA – The two-day strike that was called by State Bank of India (SBI) Staff Association (Bengal Circle) has been deferred following assurance by the management for discussions in the second week of this month.

“The strike (July 5 and 6) has been deferred following assurance from the management for discussions in the second week of … Read more >>.

UAE, Ireland agree on tax break for investors

Abu Dhabi, July 3 (IANS/WAM) The United Arab Emirates has signed an agreement with the Republic of Ireland to give tax relaxation to the investors of each other’s country.

According to an agreement signed between the Director General of finance ministry Younis Haji Al Khoori and the Ireland’s ambassador to UAE, people having businesses in both …. Original source  : UAE, Ireland agree on tax break for investors.

Poland wants to set up metal packaging unit in Haryana

CHANDIGARH – Poland wants to set up a metal packaging factory in Haryana, its Ambassador to India, Piotr Klodkowski said Saturday.

Klodkowski, who met Chief Minister Bhupinder Singh Hooda in New Delhi, made the offer and sought co-operation of the state government in identifying land and getting other facilities, according to an official statement here. … Original article on : Poland wants to set up metal packaging unit in Haryana.

Gujarat organises event to promote millet

GANDHINAGAR – Gujarat Saturday celebrated “Nagli Mahotsav” to popularise delicacies made from the highly nutritious finger millet, grown in the predominantly tribal hilly district of Dang bordering Maharashtra.

An official spokesperson said here that during the event, the government-sponsored village development agencies arranged marketing drives to popularise delicacies made from nagli by women self-help groups. … Read this article on Gaea Times at : Gujarat organises event to promote millet.

Mulberry acreage to be expanded for boosting silk output

BANGALORE – The central government will facilitate expanding mulberry acreage to boost raw silk production and revive the sericulture sector, Textiles Minister Dayanidhi Maran said Saturday.

“The mulberry acreage will be increased to 2.13-lakh hectares this fiscal from 1.9-lakh hectares and provide irrigation facility to about 10,000 hectares to boost the sericulture sector, which has been … Read the original article on Gaea Times at : Mulberry acreage to be expanded for boosting silk output.

As US fights, China spends billions to build a footprint in Afghanistan

As US fights, China spends to gain Afghan foothold

KABUL, Afghanistan – Gul Akbar’s tiny store is crammed from floor to ceiling with rolls of electric cables, plugs of all sizes and piles of extension cords. Virtually everything comes from China, as do most of the appliances and electronics being sold in Kabul’s busy Nader Pashtun …. Read the original article  : here.

With eye for bargains and stomach for risk, investors sift through wreckage of housing bust

Finding gold in them thar foreclosures
GILBERT, Ariz. – If we’re going to search for gold in the wreckage of the mortgage crisis, then 6:57 a.m. in front of 1009 W. Juanita Ave. is as good a time and place as any to start.

The Cooper Ranch subdivision, tucked behind an industrial park 25 minutes from downtown … Original source on Gaea Times at : With eye for bargains and stomach for risk, investors sift through wreckage of housing bust.

Mortgage rates are a screaming buy. So where are the bargain-hunters?

Mortgage rates scream buy, but who is listening?

An odd scene has been playing out lately in the offices of mortgage brokers and bankers around the country.
Mortgage rates have sunk to levels not seen in more than a half-century – a seductive 4.58 percent for an average 30-year fixed loan. Yet brokers and lenders report not …. Source article  : Mortgage rates are a screaming buy. So where are the bargain-hunters?.

Job cuts for state and local government workers could deepen in 2nd half of year

State and local gov’t workers’ job security fades

For years, most people who worked for state or local governments accepted a fact of life: Their pay wasn’t great. The job security was.
Now that’s gone, too.
States and municipalities are facing gaping budget gaps. Many have responded by slashing services, raising taxes and, for the first time in … Read : Job cuts for state and local government workers could deepen in 2nd half of year.

Hegde backs Yeddyurappa’s plea to ban ore exports

BANGALORE – Karnataka Lok Ayukta (ombudsman) N. Santosh Hegde who withdrew his resignation Saturday, said he supports state Chief Minister B.S. Yeddyurappa’s appeal to the prime minister to ban export of iron ore and other minerals.

“It is a wonderful idea. It can be put in place without difficulty, though there will be lobbies (against the … Read : Hegde backs Yeddyurappa’s plea to ban ore exports.

Manmohan hails public-private partnership

KANPUR – Hailing public-private partnership as the key to many success stories, Prime Minister Manmohan Singh Saturday emphasized the need for promoting the arrangement to enhance the rate of growth of the country.

Speaking at the 125th birth anniversary celebrations of noted industrialist Kamlapati Singhania at the Merchants’ Chamber of Uttar Pradesh here, he said: “our … Read : Manmohan hails public-private partnership.