World shares, dollar fall after Bernanke confirms fears US economy is slowing

World stocks, dollar fall on Bernanke economy view

SINGAPORE – World stock markets slid Thursday and the dollar fell, undermined by worries about the global recovery after Federal Reserve Chairman Ben Bernanke warned the U.S. economy faces uncertain prospects.
Bernanke told a congressional committee that the economic outlook is “unusually uncertain” and the economy is fragile. He … Read : World shares, dollar fall after Bernanke confirms fears US economy is slowing.

Sick of queuing? Hire someone to do it for you

KIEV – Queuing is part of everyday life in Ukraine. There are often hundreds of people standing in lines at government offices in the former Soviet republic.

But a young businessman is now making money off the undesirable task of waiting in line by supplying the market with professional queuers.
Nearly every morning, Igor stands in …. Source article  : Sick of queuing? Hire someone to do it for you.

NKorea warns US should halt sanctions, military exercises or risk placing region in danger

NKorea warns US exercises threaten region
HANOI, Vietnam – North Korea warned the United States and South Korea on Thursday to call off military exercises scheduled for this weekend and to back off any new sanctions against the communist country or risk placing the entire region in danger.

The warning issued on the sidelines of a meeting … Read more : NKorea warns US should halt sanctions, military exercises or risk placing region in danger.

Oil hovers below $77 as unexpected US supply increase, slumping stock market hurt optimism

Oil hovers below $77 on US supplies, equities

SINGAPORE – Oil prices hovered below $77 a barrel Thursday in Asia as growing U.S. crude supplies and weak stock markets undermined investor optimism.
Benchmark crude for September delivery was up 23 cents to $76.78 a barrel at late afternoon Singapore time in electronic trading on the New York …. Read the original article  : Oil hovers below $77 as unexpected US supply increase, slumping stock market hurt optimism.

Funds approved for phase two of unique identification number project

NEW DELHI – The authority set up to collect data for the issue of tamper-proof biometric identity cards to each of India’s 1.17 billion citizens has been granted Rs.3,023 crore for the second phase of its implementation.

“The estimated cost includes project components for issue of 100 million unique identity numbers by March 2011 and recurring … Read the original article on Gaea Times at : Funds approved for phase two of unique identification number project.

Sensex flat in afternoon trade

MUMBAI – A benchmark index for Indian equities was ruling flat Thursday afternoon amid negative Asian cues.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,978.37 points, was ruling at 17,947.32 points, 29.91 points or 0.17 percent down from its previous close at 17,977.23 points.
At the National …. Source article  : Sensex flat in afternoon trade.

LG Display second-quarter net profit rises 51 percent amid record sales

LG Display 2Q net profit jumps 51 percent
SEOUL, South Korea – LG Display, the world’s second-largest manufacturer of liquid crystal displays used in flat screen televisions and other products, said second-quarter net profit rose 51 percent amid record sales and higher prices for its products.

LG Display earned 555 billion won ($461 million) in the three …. Read the original article  : here.

Prices of Himachal apples fail to bounce back

SHIMLA – The prices of apples from Himachal Pradesh have failed to recover despite the arrival of the premium varieties in the market, traders here said Thursday.

The prices had crashed within weeks of their arrival early this month.
The traders said a bumper crop this year is turning out to be the pits for farmers … Original article on : Prices of Himachal apples fail to bounce back.

Power Grid gets go ahead for 20 percent public offer

NEW DELHI – India Thursday gave its nod for a follow-on public issue of the state-run Power Grid Corp constituting 20 percent of its paid-up capital. Of this, 10 percent will be for government divestment and the remaining as fresh equity issue.

Based on the price of Rs.105.50 per share of the company quoting on the …. Source article  : Power Grid gets go ahead for 20 percent public offer.

Canada becomes first western nation to partner ‘Vibrant Gujarat’

TORONTO – In a major boost to Gujarat, Canada has announced to become a partner country in the Vibrant Gujarat investment summit next year.

Held biennially immediately after Pravasi Bharatiya Divas since 2003, the Vibrant Gujarat summit is aimed at attracting foreign investment and knowhow into the state.
In a letter to Gujarat Industry Minister Saurabh …. Original article  : Canada becomes first western nation to partner ‘Vibrant Gujarat’.

Extension of jobless benefits likely after House vote that would send measure to Obama

Additional jobless benefits hinge on House vote
WASHINGTON – A House vote Thursday is expected to send President Barack Obama a long-sought measure to resume unemployment payments to millions of people whose benefits have lapsed.
Obama is set to sign the bill as soon as Congress can ship it to him. The Senate broke …. Source article  : Extension of jobless benefits likely after House vote that would send measure to Obama.

Politicking clouds economic decision-making, with economists more optimistic than public

Midterm politicking hovers over economic decisions

WASHINGTON – Midterm politics are distorting economic decision-making as leaders of both parties spin rival views of the road ahead, offering visions based on questionable economics.
The resulting political angst is leaving a mark on major legislation. A far-reaching financial overhaul bill signed by President Barack Obama on Wednesday reflects voter … Original source on Gaea Times at : Politicking clouds economic decision-making, with economists more optimistic than public.

AP-Univision poll: Deep financial worries make economy a personal hardship for many Hispanics

AP-Univision poll: Hispanic financial worries deep

MIAMI – For Hispanics in America, the ravaged economy has been a personal nightmare.
While the stubborn downturn has rocked the country, an extensive Associated Press-Univision poll of the nation’s Hispanics fleshes out the disproportionate toll on the fastest-growing minority group.
Nearly half or more express intense worry over losing their jobs, … Original article on : AP-Univision poll: Deep financial worries make economy a personal hardship for many Hispanics.

Chhattisgarh slaps entertainment tax on DTH connection

RAIPUR – The Chhattisgarh government has imposed entertainment tax ranging from Rs.10 to Rs.20 per Direct-to-Home (DTH) connection, effective retrospectively from the month of June.

The commercial taxes department Thursday said dealers of companies providing DTH services in the state will collect the tax.
In a statement, the department said the tax will be … Read this article on Gaea Times at : Chhattisgarh slaps entertainment tax on DTH connection.

Immediate impact: James, Wade and Bosh making a quick mark off the court for Miami businesses

Heat soaring in off-court business moves as well

MIAMI – Eric Woolworth has worn button-down shirts to work for the last two weeks, instead of short-sleeve polos.
With good reason.
Those polos say “Miami Heat.”
“I can’t wear them because I can’t go out without getting accosted,” said Woolworth, the Heat president of business operations. “You can’t go out … Read the original article on Gaea Times at : Immediate impact: James, Wade and Bosh making a quick mark off the court for Miami businesses.

Bharti promises more than just telecom services to Tanzania

NEW DELHI – India’s Bharti Airtel, which acquired the African telecom assets of Kuwait’s Zain recently, has committed itself to bringing affordable phone services to Tanzania and becoming a pro-active partner in the country’s growth.

“We want to be a partner in Tanzania’s growth and will work with the government to take telecom networks deep into … Read more >>.

Soaring milk, fruit prices keep food inflation high

NEW DELHI – India’s food inflation continued to remain high and was ruling at 12.47 percent for the week ended July 10 against 12.81 percent for the week before as prices of milk, fruits, condiments, spices, chicken and fish moved higher.

According to data on the official wholesale price index released by the commerce and industry … Read : Soaring milk, fruit prices keep food inflation high.

NKorea says US should halt sanctions, military exercises if it wants nuke free peninsula

NKorea calls on US to halt exercises, sanctions

HANOI, Vietnam – North Korea warned the United States and South Korea on Thursday to halt military exercises scheduled for this weekend and to back off any new sanctions against the communist country if they want to see a nuclear weapon-free Korean peninsula.
The warning issued on the sidelines …. Source article on Gaea Times at  : NKorea says US should halt sanctions, military exercises if it wants nuke free peninsula.

Swedish truck maker Volvo makes Q2 profit, helped by higher demand, improved productivity

Volvo returns to profit in Q2 as demand picks up

STOCKHOLM – Swedish truck maker AB Volvo returned to a profit in the second quarter from a loss a year earlier, helped by a gradual pickup in demand and improved productivity, it said Thursday.
The company, based in Goteborg, southern Sweden, said net profit for the quarter … Read the original article on Gaea Times at : Swedish truck maker Volvo makes Q2 profit, helped by higher demand, improved productivity.

China to begin domestic carbon trading

BEIJING – China will start carbon trading in domestic businesses during the next five-year plan beginning in 2011 with an aim to reduce carbon emission.

The decision was made at a closed-door meeting chaired by Xie Zhenhua, deputy director of the National Development and Reform Commission (NDRC), and attended by officials from related ministries, enterprises, environmental … Original source on Gaea Times at : China to begin domestic carbon trading.