World stock markets higher as China shares jump but rebound may be shortlived

World markets higher on China rebound
BANGKOK – A jump in Chinese shares led world markets higher Tuesday as investors scooped up stocks that had been pummeled to multi-month lows but some analysts doubted the rebound would last.

Weaker data from major economies over the past few weeks has diminished confidence in a strong rebound from last … Read more >>>.

BSP organises protests against price rise

LUCKNOW – Uttar Pradesh’s ruling Bahujan Samaj Party (BSP), which kept away from Monday’s all-India shutdown, staged state-wide protests Tuesday against price rise, a spokesman said.

BSP activists staged demonstrations and held public meeting all over the sprawling state but the event was peaceful and caused no disruption to others, the spokesman said.
According to BSP, …. Source  : Gaea News Network.

China objects to US sanctions against Iran, saying UN sanctions don’t need expanding

China objects to US sanctions against Iran
BEIJING – China said Tuesday that the United States and other countries should not expand on the latest U.N. sanctions imposed on Iran over its nuclear program.
China did not exercise its veto power last month when the U.N. Security Council approved sanctions that target Iran’s Revolutionary Guard, …. Source article on Gaea Times at  : China objects to US sanctions against Iran, saying UN sanctions don’t need expanding.

African Development Bank calls continent’s economic recovery ’spectacular’

African Development Bank bullish on continent

JOHANNESBURG – Africa is making a “spectacular” recovery from the global recession thanks to decades of market reform and strong trade ties with China, the chief economist for the African Development Bank said Tuesday.
Mthuli Ncube, presenting the annual economic forecast of the multilateral bank dedicated to alleviating poverty and boosting …. Original source  : African Development Bank calls continent’s economic recovery ’spectacular’.

Blockade in Delhi over water crisis

NEW DELHI – Over 250 people in east Delhi blocked roads, damaged buses and stoned policemen here Tuesday after going without water in their homes for 10 long days, police said.

The residents of Kondli said they were frustrated because repeated petitions to the authorities had had no effect. “The government officials took no action,” one …. Source  : Gaea News Network.

Oil rises to near $73 in Asia as investors eye stocks, euro gains

Oil rises to near $73 as stocks, euro gain

SINGAPORE – Oil prices rose to near $73 a barrel Tuesday in Asia, joining gains in stock markets and the euro.
Benchmark crude for August delivery was up 42 cents to $72.55 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. … Read : Oil rises to near $73 in Asia as investors eye stocks, euro gains.

India can compete with China in boilers

CHENNAI – Indian boiler manufacturers can compete with Chinese companies if China depegs its currency, yuan, from the dollar and let it move more freely within a basket of currencies, said a boiler manufacturer here.

Many private power projects in India are being executed with Chinese equipment as they are cheaper and available nearly off the … Read : India can compete with China in boilers.

Asian stock markets higher as China shares jump but rebound may be shortlived

Asian markets higher on China rebound
BANGKOK – A jump in Chinese shares led Asian markets higher Tuesday as investors scooped up stocks that had been pummeled to multi-month lows but some analysts doubted the rebound would last.

Weaker data from major economies over the past few weeks has diminished confidence in a strong rebound from last … Original article on : Asian stock markets higher as China shares jump but rebound may be shortlived.

Sensex extends gains, IT stocks shine

MUMBAI – A benchmark index for Indian equities Tuesday extended its morning gains and was up 109 points, helped by buy-ins in IT stocks and heavyweight Reliance Industries, as investors turned bullish with the revival of the monsoon.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,402.68 points, was … Read more >>>.

Railways to take another day to restore normalcy

NEW DELHI – A day after a nationwide shutdown disrupted over 265 train services, Indian Railways Tuesday said it will take another 24 hours to restore full normalcy even as many diverted trains started reaching their destinations.

“In situations like these, it takes at least a day, if not more, to restore normalcy,” a senior official …. Read the original article  : Railways to take another day to restore normalcy.

Rail link in Ethiopia contrasts proactive China with languid India

NEW DELHI – On the rooftop of Africa, the development of Ethiopia’s rail network is demonstrating the different working models of India and China – as both of them are scrambling to get lucrative contracts in the continent.

As India waited for Ethiopia to come with a specific request for help, the Chinese moved in quickly …. Read the original article  : here.

Toyota knew spring problem behind Lexus recall 2 years ago, but did not see recall as needed

Toyota knew about Lexus problem 2 years ago

TOKYO – Toyota knew two years ago about the engine problem behind its latest Lexus recall, even changing the spring part to correct it, but did not think a recall was warranted until recently, a company official said Tuesday.
Toyota Motor Corp. started Monday a global recall over engine …. Source  : Toyota knew spring problem behind Lexus recall 2 years ago, but did not see recall as needed.

Obama, Netanyahu to focus on getting Israelis, Palestinians to begin direct peace talks

Obama, Netanyahu to focus on peace talks
WASHINGTON – President Barack Obama and Israeli Prime Minister Benjamin Netanyahu headed into a White House meeting Tuesday with the same goal: trying to move the Israelis and Palestinians to resume face-to-face peace talks.
Netanyahu on Sunday endorsed the U.S. call for direct talks between the …. Original article on Gaea Times at  : Obama, Netanyahu to focus on getting Israelis, Palestinians to begin direct peace talks.

Cash-strapped post office announcing plans for rate increase, likely to top inflation rate

Post office plans to announce new rate increase

WASHINGTON – Battered by massive losses, the Postal Service wants to raise rates to bring in more money.
Postal officials scheduled a briefing Tuesday to discuss the amount of the increase, which will go to the independent Postal Regulatory Commission for review.
The boost comes as no surprise. Postmaster General …. Source  : Cash-strapped post office announcing plans for rate increase, likely to top inflation rate.

Business as usual in Mumbai after protest

MUMBAI – A day after the nationwide shutdown called by opposition parties to protest against the fuel price hike, life returned to normal in Mumbai Tuesday.

With most offices remaining shut Monday, office goers felt Tuesday was the first day of the week. “With not being able to go to work yesterday, today seems like … Read : Business as usual in Mumbai after protest.

Neyveli Lignite workers call off strike after wage accord

CHENNAI – Two major unions of the Neyveli Lignite Corporation Ltd (NLC) called off their six-day strike Tuesday after hammering out a wage agreement.

The two unions – DMK-backed NLC Workers Progressive Union (NLCWPU) and PMK affiliated Pattali Thozil Sangam (PTS) – had the majority of the 14,000 permanent workers and the support of other …. Source article on Gaea Times at  : Neyveli Lignite workers call off strike after wage accord.

Set up telecom appeal board, says Dhaka parliamentary panel

DHAKA – A committee of Bangladesh’s parliament has opposed arbitrary government powers to punish erring firms in the telecom and IT sectors and recommended the setting up of a telecom appeal board.

Responding to concerns expressed by two largely private-run sectors that have significant foreign investments, the parliamentary standing committee on post and telecommunications ministry recommended …. Original article  : Set up telecom appeal board, says Dhaka parliamentary panel.

British Airways crew vote on new offer

LONDON – British Airways (BA) cabin crew began voting Tuesday on a new offer by the airline aimed at averting fresh strikes over the management’s cost-cutting decisions.

The management made the offer last month when the crew went on a strike disrupting BA’s flight schedules leading to a 11.1 percent fall in passenger numbers.
The …. Source article  : British Airways crew vote on new offer.

EU concerned over garment sector violence in Bangladesh

DHAKA – The European Union (EU), whose member-nations are among the major importers of Bangladeshi readymade garments, has expressed “concern” at the prospects of consignment delays caused by continuing industrial violence.

A three-member delegation led by the EU Ambassador Stefan Frowein met Labour minister Khandakar Mosharraf Hossain and spoke about their concern.
They told …. Source article  : EU concerned over garment sector violence in Bangladesh.

British job market bleak for fresh graduates

LONDON – An estimated 500,000 British graduates are about to join the queue for jobs this year, but the market has become tougher with employers raising the bar for minimum education qualifications.

Most employers in Britain will not be recruiting graduates with lower than a 2:1 pass degree, equivalent to a second class honours degree with … Read more : British job market bleak for fresh graduates.