Wednesday, July 28, 2010

Business News – Newsletter for July 28, 2010

Wednesday, July 28, 2010


Go on, give it a try: DC works to educate women on female condom use to fight HIV epidemic

DC pushes female condoms to fight HIV epidemic

WASHINGTON – Charlene Cotton will talk to anyone about sex. Several days a week she stands behind a table decorated with a bowl of flavored condoms and safer sex pamphlets, calling to women passing on the street, “Come check out my table. Don’t be scared.”
She asks: “Have you … Read the original article on Gaea Times at : Go on, give it a try: DC works to educate women on female condom use to fight HIV epidemic.

Lok Sabha speaker disallows adjournment motion on price rise

NEW DELHI – Lok Sabha Speaker Meira Kumar Wednesday disallowed an adjournment motion the opposition sought to move for a discussion followed by voting on the rising food prices.

The speaker\’s decision sparked protests and loud slogan shouting by opposition MPs, forcing Meira Kumar to adjourn the house for the
Read : Lok Sabha speaker disallows adjournment motion on price rise.

Exports from special economic zone zoomed 121 percent

NEW DELHI – In sharp contrast to the slowdown in India’s external trade last fiscal, exports from special economic zones (SEZs) grew by a whopping 121.4 percent, the commerce ministry said Wednesday.

Exports from SEZs during 2009-10 stood at Rs.2,20,711.39 crore ($49 billion). India’s total exports during the same period was down 4.7 percent at $176.5 …. Read the original article  : Exports from special economic zone zoomed 121 percent.

World stock markets gain amid strong earnings and signals of improving Europe economy

World stock markets gain amid strong earnings

BANGKOK – World stocks advanced Wednesday as strong corporate earnings and signals of an improving European economy outweighed fading U.S. consumer confidence.
The yen was down against the dollar, while the euro was up. Oil prices hovered above $77 a barrel after a report showed U.S. oil supplies unexpectedly rose … Original source on Gaea Times at : World stock markets gain amid strong earnings and signals of improving Europe economy.

BP tries to reinvent self with American CEO; Hayward agrees but grouses, ‘Life isn’t fair’

BP hopes to turn page with new CEO, leaner company
NEW ORLEANS – BP officials say they are beginning to reinvent a company that reported a record $17 billion quarterly loss and is navigating the politically fraught task of making the Gulf of Mexico new.
The company named its first American CEO on Tuesday during …. Original article on Gaea Times at  : BP tries to reinvent self with American CEO; Hayward agrees but grouses, ‘Life isn’t fair’.

Peugeot Citroen says China sales, new models help drive return to profit

Peugeot Citroen returns to profit in first half

PARIS – PSA Peugeot Citroen SA on Wednesday reported a return to profit in the first half of 2010, beating market expectations and boosting its outlook, thanks to strong demand for new cars in China and a raft of new models.
The French carmaker reported that it made a … Original source on Gaea Times at : Peugeot Citroen says China sales, new models help drive return to profit.

Oil hovers above $77 in Asia as report showed US crude supplies increased unexpectedly

Oil hovers above $77 after surprise US supply jump

SINGAPORE – Oil prices hovered above $77 a barrel Wednesday in Asia after a report showed U.S. crude supplies unexpectedly rose last week, suggesting demand remains weak.
Benchmark crude for September delivery was unchanged at $77.50 a barrel at late afternoon Singapore time in electronic trading on the … Read more >>>.

Rising prices not government failure: Pranab Mukherjee

NEW DELHI – Finance Minister Pranab Mukherjee Wednesday welcomed a debate on the rising prices which, he said, was not a government failure and could be discussed but not voted on.

Unless the central government “fails to discharge its duties enjoined by the constitution of the law”, the matter could not be discussed under the adjournment …. Source article  : Rising prices not government failure: Pranab Mukherjee.

ArcelorMittal says 2nd quarter net income reaches $1.7 billion on higher prices, sales

Arcelor makes Q2 net income of $1.7 billion

BRUSSELS, Belgium – ArcelorMittal SA, the world’s biggest steelmaker, said Wednesday that a jump in sales and prices helped it generate net income of $1.7 billion in the second quarter, up from a loss a year earlier, and that it intends to sell its stainless steel unit.
The result … Read the original article on Gaea Times at : ArcelorMittal says 2nd quarter net income reaches $1.7 billion on higher prices, sales.

NEC reports $490M quarterly loss after selling off chip unit, slump in data connection service

Japan’s NEC reports $490 million quarterly loss

TOKYO – Japan’s NEC Corp. reported a loss in the latest quarter amid a slump in its network systems business and after hiving off its semiconductor unit .
The Tokyo-based electronics maker Wednesday posted net loss of 43.1 billion yen ($490 million) in the April-June quarter, sinking deeper into the … Original source on Gaea Times at : NEC reports $490M quarterly loss after selling off chip unit, slump in data connection service.

British American Tobacco H1 net profit up 5 percent to 1.53 bln pounds ($2.4 bln)

BAT 1st half profit up 5 pct
LONDON – British American Tobacco PLC, the maker of Dunhill, Pall Mall and Lucky Strike cigarettes, said Wednesday that profits rose 5 percent in the first half of the year, helped by the acquisition of Bentoel in Indonesia.

The company reported a net profit of 1.53 billion pounds ($2.4 billion), …. Source  : Gaea News Network.

Sensex flat as RIL drags

MUMBAI – Indian equities markets were in for another listless day of trade Wednesday with a key index ruling flat at noon and heavyweight stock Reliance Industries dragging the market.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,077.85 points, was trading at 18,071.26 points, 6.35 points or 0.04 percent …. Source article on Gaea Times at  : Sensex flat as RIL drags.

BlackBerry stock slips on UAE security concerns

TORONTO – With the United Arab Emirates (UAE) joining India in seeking access to BlackBerry’s encryption key to let their intelligence agencies have access to emails, shares of Blackberry maker Research In Motion (RIM) fell for the second consecutive day Tuesday on the Toronto Stock Exchange.

After slipping 1.8 percent Monday, the RIM stock fell further … Read more »»».

John Woo joins cast of Chinese propaganda blockbuster to mark party’s 90th anniversary

Woo joins cast of Chinese propaganda blockbuster

HONG KONG – A-List filmmaker John Woo is the first celebrity to join the cast of the second major film in the leading Chinese state film studio’s campaign to reform the propaganda genre with a heavy dose of star power.
Last year, China Film Group Corp. released “The Founding of …. Source article on Gaea Times at  : John Woo joins cast of Chinese propaganda blockbuster to mark party’s 90th anniversary.

IMF says China’s currency undervalued but praises ‘effective’ response to global crisis

IMF: China currency undervalued but policy sound

BEIJING – The International Monetary Fund said China’s yuan is undervalued in a mildly worded assessment Wednesday of its controversial currency controls and praised Beijing’s response to the global crisis.
The comments came in a review by the Washington-based fund of Chinese economic policy, the first in three years. Such … Read the original article on Gaea Times at : IMF says China’s currency undervalued but praises ‘effective’ response to global crisis.

Massive opportunities seen in India-Latin America ties

WASHINGTON – Stressing the great integration potential between India and Latin America, a new study calls for closer economic ties between the two distant partners to tap into “massive” trade and investment opportunities.

The study “India: Latin America’s Next Big Thing?” released Tuesday by the Inter-American Development Bank (IDB) looks into recent development and [..] Read the original article: here.

Oil falls to near $77 in Asia as report showed US crude supplies increased unexpectedly

Oil falls to near $77 on unexpected US supply jump

SINGAPORE – Oil prices fell to near $77 a barrel Wednesday in Asia after a report showed U.S. crude supplies unexpectedly rose last week, suggesting demand remains weak.
Benchmark crude for September delivery was down 22 cents at $77.28 a barrel at midday Singapore time in electronic … Read this article on Gaea Times at : Oil falls to near $77 in Asia as report showed US crude supplies increased unexpectedly.

Democrats, Republicans select women as nominees for open Oklahoma governor’s post

Women to head GOP, Democratic tickets in Oklahoma

OKLAHOMA CITY – Oklahoma will have its first female governor this January after Democrats and Republicans, for the fourth time in U.S. history, nominated women to lead their tickets in the general election.
Republicans rejected anti-Washington sentiment on Tuesday, selecting a two-term congresswoman instead of a tea party-backed conservative …. Source article  : Democrats, Republicans select women as nominees for open Oklahoma governor’s post.

Askins beats Edmondson for Democratic nomination in Oklahoma governor’s race

Edmondson concedes in Okla. Democratic primary

OKLAHOMA CITY – The race for Oklahoma governor will feature two women at the top of the ticket.
Lt. Gov. Jari Askins defeated Attorney General Drew Edmonson on Tuesday. The attorney general conceded in a late-night speech that he would not make up the slim margin Askins held as the final … Read the original article on Gaea Times at : Askins beats Edmondson for Democratic nomination in Oklahoma governor’s race.

British PM Cameron brings delegation to India to renew trade, political ties

British PM visits India to boost trade links

BANGALORE, India – British Prime Minister David Cameron and a massive delegation of Cabinet ministers and dignitaries fanned out across India on Wednesday in a visit aimed at rebuilding trade relations and other ties between the two nations.
As the former colonial power here, Britain has had a complicated …. Source  : British PM Cameron brings delegation to India to renew trade, political ties.

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