Bank Of America Unveils Free Account

CALIFORNIA (GaeaTimes.com)- Bank Of America which is considered as one of the 4 major banks of USA has adopted a new endeavor to stay ahead in the competition. The bank is offering a new free account under the name eBanking that is meant for those users who need not visit the bank branches much … Read this article on Gaea Times at : Bank Of America Unveils Free Account.

Chandra Bhushan Paliwal new CVO of SAIL

NEW DELHI – Chandra Bhushan Paliwal of the Indian Administrative Service has taken over as the chief vigilance officer (CVO) of the Steel Authority of India (SAIL).

Prior to this posting, Paliwal served as a joint secretary in the department of personnel and training in the the ministry of personnel.
In 29 long … Read : Chandra Bhushan Paliwal new CVO of SAIL.

US bank nod to sale of equipment for Reliance Power plant

NEW DELHI – The US export-import bank has given a preliminary approval to a loan guarantee of $600 million for the sale of mining equipment for the 3,960 MW power plant of the Anil Dhirubhai Ambani Group firm, Reliance Power, in Sasan, Madhya Pradesh.

The board of the bank had on June 24 voted not to … Read more >>.

World markets down after disappointing US economic news, China economy slows

World stocks down on US, China economic news

BANGKOK – World stock markets dropped Thursday after the Federal Reserve issued a weaker economic forecast for the U.S. and China posted slower growth, cooling investor sentiment.
Oil prices fell below $77 a barrel amid mixed signals about U.S. crude demand. The yen strengthened against the dollar, while the …. Original article on Gaea Times at  : World markets down after disappointing US economic news, China economy slows.

Food inflation rises to 12.81 percent

NEW DELHI – After dropping for two straight weeks, India’s annual food inflation rose to 12.81 percent for the week ended July 3, reflecting the hike in fuel prices in the last week of June which made pulses and cereals costlier.

In the previous week, food inflation was at 12.63 percent.
Fuel prices eased to …. Source article on Gaea Times at  : Food inflation rises to 12.81 percent.

Dhumal walking towards austerity

SHIMLA – Himachal Pradesh Chief Minister Prem Kumar Dhumal walks his way to his office as an austerity measure following the hike in petrol prices.

“I prefer to go to the office on foot as petrol prices have jacked up massively, putting a massive burden on state’s exchequer,” Dhumal told IANS.
“Walking is more than a … Read more »».

Standard Chartered Acquires GE Subsidiary

SINGAPORE (GaeaTimes.com)- Standard Chartered Bank is eyeing for measures to boost its existing medium and small enterprise business segment and for that purpose it has acquired GE Commercial Financing based in Singapore. The latter deals with hire-purchase financing and medium and small enterprise factoring. Standard Chartered Bank has said that it has acquired … Read the original article on Gaea Times at : Standard Chartered Acquires GE Subsidiary.

Action needed against illegal non-banking firms: RBI

AIZAWL – The Reserve Bank of India (RBI) has suggested that state governments crack down on unauthorised non-banking firms collecting deposits from people. It also asked people not to deposit any money in them.

“The state governments, under the prevailing laws, can take action against the unauthorised Non-Banking Financial Companies (NBFCs) collecting money from people,” RBI … Read more »»».

Germany, Russia to sign multibillion dollar deals in Russia

Germany, Russia to ink multibillion deals
YEKATERINBURG, Russia – German Chancellor Angela Merkel and Russian President Dmitry Medvedev met Thursday for talks and are expected to oversee the signing of an array of deals between German and Russian companies worth billions of dollars.

In one of them, Siemens AG and Russian Railways will sign a euro2.2 billion …. Original source  : Germany, Russia to sign multibillion dollar deals in Russia.

China’s economy up 11.1 percent in first half of 2010

BEIJING – China’s economy expanded by 11.1 percent year-on-year in the first half of 2010, the National Bureau of Statistics (NBS) said Thursday.

The growth was 3.7 percentage points higher compared with the same period last year, when China was still wrestling with the global financial crisis, Xinhua reported.
China’s economy increased 10.3 percent … Original article on : China’s economy up 11.1 percent in first half of 2010.

Dhaka, Delhi move for closer economic ties

DHAKA/SYLHET – Businessmen from Bangladesh and India have agreed on joint measures to promote closer economic ties that are mutually beneficial and curb illegal trade by focusing on India’s northeastern region.

A joint declaration by visiting Indian businessmen and local businessmen Wednesday expressed commitment to boost economic ties within the sub-region and resolved to “make …. Source article on Gaea Times at  : Dhaka, Delhi move for closer economic ties.

China offers Argentina nuclear power technology

Beijing, July 15 (IANS/EFE) Argentine President Cristina Fernandez was received here Wednesday by Chinese Prime Minister Wen Jiabao as Beijing offered to provide advanced technology for Argentina’s planned fourth nuclear power plant.

Before the talks with Wen, Fernandez told reporters that she felt very satisfied with her meetings with Chinese President Hu Jintao and other senior … Read more »».

White House says stimulus funded 3 million jobs

WASHINGTON – Even as President Barack Obama’s administration claimed that the $787 billion stimulus had saved or created about three million jobs, the US Chamber of Commerce said he had “neglected” to focus on job creation.

In its latest stimulus report released Wednesday, the White House’s Council of Economic Advisers using two different models estimated the … Original source on Gaea Times at : White House says stimulus funded 3 million jobs.

Swiss drug maker Novartis says 2Q net profit up 19 pct to $2.44 billion

Drug maker Novartis says 2Q profit up 19 percent

GENEVA – Drug maker Novartis AG reported a second-quarter increase in net profit of 19 percent Thursday, as sales in its pharmaceuticals business offset health care cost-cutting efforts by some European governments.
The Basel, Switzerland-based company reported a net profit of $2.44 billion (euro1.92 billion) compared with $2.04 …. Original article  : Swiss drug maker Novartis says 2Q net profit up 19 pct to $2.44 billion.

Haryana to set up farmers’ commission

CHANDIGARH – Haryana Chief Minister Bhupinder Singh Hooda Thursday announced the setting up of a commission that will look into factors responsible for decline in farm income and other problems faced by farmers.

Hooda said the farmers’ commission would analyse the factors responsible for decline in farm income and suggest measures to enhance income of the …. Source  : Haryana to set up farmers’ commission.

Bangladesh to have more airports

DHAKA – Bangladesh is to have more international and domestic airports to facilitate economic development and act as “a bridge between the East and the West”, Prime Minister Sheikh Hasina has said.

An international airport will be named after Hasina’s father, slain leader Sheikh Mujibur Rahman, who led the country’s freedom movement, she told parliament … Read the original article on Gaea Times at : Bangladesh to have more airports.

Oil falls below $77 in Asia as investors mull mixed signals about US crude demand

Oil falls below $77 amid mixed US demand signals

SINGAPORE – Oil prices fell below $77 a barrel Thursday in Asia amid mixed signals about the strength of U.S. crude demand.
Benchmark crude for August delivery was down 29 cents to $76.75 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile … Original source on Gaea Times at : Oil falls below $77 in Asia as investors mull mixed signals about US crude demand.

China says growth slows as stimulus winds down, government clamps down on credit

China’s economic growth slows amid credit curbs

BEIJING – China’s rapid growth is slowing as the impact of its huge stimulus fades and Beijing clamps down on a credit boom.
The world’s third-largest economy expanded by 10.3 percent in the second quarter over a year earlier, down from the first quarter’s explosive 11.9 percent growth, the National … Read more >>.

US homes lost to foreclosure on track to eclipse ‘09 levels as banks work through backlog

Homes lost to foreclosure on track for 1M in 2010

LOS ANGELES – More than 1 million American households are likely to lose their homes to foreclosure this year, as lenders work their way through a huge backlog of borrowers who have fallen behind on their loans.
Nearly 528,000 homes were taken over by lenders in the …. Read the original article  : US homes lost to foreclosure on track to eclipse ‘09 levels as banks work through backlog.

US mom travels to China, birthplace of adopted daughter, in search of lifesaving bone marrow

US mom in China to find marrow donor for daughter

LIUZHOU, China – Sherrie Cramer breaks into stifled sobs as she nears the dirt-streaked former orphanage in China where her daughter lived as a severely malnourished infant.
Once again, Cramer is fighting to keep the child she adopted alive. But this time, it’s a battle against leukemia, …. Original article on Gaea Times at  : US mom travels to China, birthplace of adopted daughter, in search of lifesaving bone marrow.