EU’s newest members in Eastern Europe return to growth but rebound is weak, World Bank says

World Bank: EU’s newest members return to growth

BRUSSELS – The World Bank says the 10 Eastern European nations that have joined the EU since 2004 are seeing economic growth again for the first time since the start of the global financial crisis in 2008.
It says the countries recovered from a 2.1 percent slump in output …. Original source  : EU’s newest members in Eastern Europe return to growth but rebound is weak, World Bank says.

World stocks mixed as slump in factory output fuels concern over recovery in the US

World stocks mixed amid US recovery worries

SINGAPORE – World stock markets were mixed Friday as a drop in American factory output and weak U.S. regional manufacturing activities fueled concern over the strength of a recovery in the world’s biggest economy.
In early trading in Europe, Britain’s FTSE 100 rose 0.5 percent, Germany’s DAX index gained 0.3 … Read the original article on Gaea Times at : World stocks mixed as slump in factory output fuels concern over recovery in the US.

China says economic slowdown the result of policy, promises ’steady and fast’ growth

China’s blames slowdown on policy controls

BEIJING – Premier Wen Jiabao said Friday the government intervened in the economy to slow China’s rapid expansion to a manageable pace and promised to maintain “steady and fast growth” this year.
Second-quarter growth fell to 10.3 percent from the first quarter’s 11.9 percent as Beijing wound down its giant stimulus … Original article on : China says economic slowdown the result of policy, promises ’steady and fast’ growth.

BP shares open 5.5 pct higher after early success on capping oil leak

BP shares up on preliminary success on leak

LONDON – Shares in BP PLC opened 5.5 percent higher in London Friday after the oil company reported encouraging early signs of progress in stopping the Gulf of Mexico oil leak.
The oil company’s shares rose to 424 pence ($6.54) on the London Stock Exchange. They have have risen … Read more »»».

Railways explore quota for employees’ wards in jobs

NEW DELHI – Railway Minister Mamata Banerjee has asked her ministry to explore the feasibility of according some priority or providing some reservation to the wards of lower-grade employees in railway jobs.

A senior ministry official told IANS the minister had recently expressed the desire to know if wards of railway employees could be accorded some …. Read the original article  : here.

Under fire, ethanol industry scrambles to keep billions of dollars in incentives

Ethanol industry scrambles to keep incentives

WASHINGTON – The once-popular ethanol industry is scrambling to hold onto billions of dollars in government subsidies, fighting an increasing public skepticism of the corn-based fuel and wariness from lawmakers who may divert the money to other priorities.
The industry itself can’t agree on how to convince Congress to keep the …. Source article on Gaea Times at  : Under fire, ethanol industry scrambles to keep billions of dollars in incentives.

Tilaknagar Industries lists at Rs.160.10 at NSE

MUMBAI – Tilaknagar Industries, a manufacturer of Indian Made Foreign Liquor (IMFL), began trading on the National Stock Exchange Friday.

The scrip, which opened at Rs.160.10, was trading at Rs.163 in afternoon trade, up 3.9 percent from its previous closing figure of Rs.156.85 as recorded on the BSE.
The scrip will be traded under the … Read : Tilaknagar Industries lists at Rs.160.10 at NSE.

Congress acts on bank overhaul, now regulators will have to do their part: write new rules

Congress acts, but bank bill has work ahead
WASHINGTON – In the end, it’s only a beginning.
The far-reaching new banking and consumer protection bill awaiting President Barack Obama’s signature now shifts from the politicians to the technocrats.
The legislation gives regulators latitude and time to come up with new rules, requires scores of studies and, …. Source  : Gaea News Network.

Germany, China sign deals worth billions of dollars, say trade strong despite financial crisis

Germany, China sign billions of dollars in deals

BEIJING – Chinese and German companies signed deals worth billions of dollars to make trucks and power equipment Friday as the prime ministers declared their countries’ economies had recovered from last year’s global recession.
German Chancellor Angela Merkel brought the heads of major German corporations with her on a … Original source on Gaea Times at : Germany, China sign deals worth billions of dollars, say trade strong despite financial crisis.

Cottons, chiffons to tailor growth of apparel exports

GREATER NOIDA – Indian apparel exporters and manufacturers are falling back on low cost cotton, chiffons and Western-style pret outfits to rev up business in a flagging market.

Around 300 exporters displayed their spring-summer collections at the three-day 45th India International Garments’ Fair here. Mostly casual wear, these were described as “low value and low fashion, … Original source on Gaea Times at : Cottons, chiffons to tailor growth of apparel exports.

Sensex dull, broader markets gain, Asian cues weak

MUMBAI – A benchmark index for Indian equities Friday was quiet a little before noon after a choppy morning session. Other major Asian markets too were in the red.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,911.13 points, was ruling at 17,917.69 points, 8.23 points or 0.05 percent up … Read more »»».

Diesel to cost less in Delhi from July 20

NEW DELHI – Diesel is likely to get cheaper by Rs.2.37 per litre in the capital as the Delhi government Friday announced a decrease in the value added tax (VAT) on the fuel from July 20.

Delhi Chief Minister Sheila Dikshit said while announcing the decision: “We have decided to decrease the VAT on … Read : Diesel to cost less in Delhi from July 20.

China’s Agricultural Bank rises in Hong Kong debut after tepid Shanghai response

China’s Agricultural Bank rises in Hong Kong debut

HONG KONG – Agricultural Bank of China rose in early trading on the Hong Kong stock exchange Friday, a day after a tepid reception in Shanghai, as the rural lender rolled out a massive initial public offering worth up to $22.1 billion.
The last of China’s “big four” state-owned … Read more >>.

Foreign firms retain business confidence in Spain

Madrid, July 16 (IANS/EFE) More than 70 percent of the foreign companies operating in Spain plan to maintain or increase their staff and investment in 2011, even though a key indicator of the business outlook declined slightly relative to 2009.

Those were the conclusions contained in the latest edition of the Barometer of the Business Climate … Original article on : Foreign firms retain business confidence in Spain.

Bangladesh, Nepal revive transit deal

DHAKA – Bangladesh and Nepal have revived a deal signed more than three decades ago to work out a transit route through which landlocked Nepal can access the Mongla port.

Trucks from Nepal will be allowed into Bangladesh territory to get to Mongla Port. There will be no entry fees for cargo from Nepal. But Bangladesh [..] Read the original article: here.

Most Asian stocks fall as slump in factory output fuels concern over recovery in the US

Most Asian stocks down amid US recovery worries

TOKYO – Most Asian stock markets fell Friday as a drop in American factory output and weak U.S. regional manufacturing activities fueled concern over the strength of a recovery in the world’s biggest economy.
Japan’s benchmark Nikkei 225 stock index lost 224.88 points, or 2.3 percent, to 9,460.65, extending …. Source  : Gaea News Network.

Bangladesh Army to generate, sell power

DHAKA – A company floated by the Bangladesh Army will produce 50 MW power at an army camp outside the national capital and sell it to the government.

The state-run Power Development Board (PDB) Thursday signed agreements with the army’s DPA Power Generation International Ltd and another firm, Sinha Power Generation Company.
Lt. Gen. Iqbal Karim …. Source  : Gaea News Network.

Money Market Operations as on July 15, 2010

… Read more : Money Market Operations as on July 15, 2010.

Asian stocks mixed as slump in factory output fuels concern over recovery in the United States

Asian stocks mixed amid US recovery worries

TOKYO – Asian stock markets were mixed Friday as a drop in U.S. factory output fueled concern over the strength of a recovery in the world’s biggest economy.
Japan’s benchmark Nikkei 225 stock index lost 155.04 points, or 1.6 percent, to 9,530.49 in the morning session.
Investors dumped exporters because of … Read : Asian stocks mixed as slump in factory output fuels concern over recovery in the United States.

Microsoft co-founder to donate fortune to charity

SAN FRANCISCO – Microsoft co-founder Paul Allen has pledged to donate the majority of his $13.5 billion fortune to charity.

Allen’s pledge came just weeks after his former business partner, Bill Gates, and legendary investor Warren Buffet both called on other billionaires to commit to giving away at least half their fortunes.
“I want to announce … Read the original article on Gaea Times at : Microsoft co-founder to donate fortune to charity.