Selling the rings: Olympic dash for cash leads to a few eyebrow-raising sponsorship deals

Olympic committees striking some unusual deals

COLORADO SPRINGS, Colo. – With the struggling economy leaving a void in sponsorships and the London Games only two years away, Olympic officials have been peddling their brand aggressively.
The result has been some unusual partnerships that marketing experts say leave the Olympic committees open to questioning.
Some examples from the past …. Source article  : Selling the rings: Olympic dash for cash leads to a few eyebrow-raising sponsorship deals.

Kerala house adjourned sine die amid opposition protest

THIRUVANANTHAPURAM – The last day of Kerala assembly’s session ahead of the ensuing civic elections ended amid drama and heated exchanges between the treasury benches and the opposition over allegedly dubious purchase of tribals’ land by companies.

Speaker K. Radhakrishnan tried unsuccessfully to get opposition members, protesting in the well of the house, to occupy their …. Original source  : Kerala house adjourned sine die amid opposition protest.

Data on ECB/FCCB for June 2010

The Reserve Bank of India has today released the data on External Commercial Borrowings (ECB) (www.rbi.org.in/scripts/ECBUserView.aspx?Id=79) and Foreign Currency Convertible Bonds (FCCB), both through Automatic Route and Approval Route, for the month June 2010.
Ajit Prasad
Manager
Press Release : 2010-2011/153

… Read more »»».

Panasonic plans to buy out subsidiaries Sanyo, Panasonic Electric under $9.4B green initiative

Panasonic to buy out Sanyo, Panasonic Electric

TOKYO – Panasonic is planning to take 100 percent ownership of its subsidiaries Sanyo Electric and Panasonic Electric Works in a move costing up to $9.4 billion to strengthen green businesses such as electric cars and solar panels.
Japan’s biggest consumer electronics maker said in a statement Thursday it will …. Source  : Gaea News Network.

Automaker Volkswagen says 1st-half profit up strongly to $2.4 billion

Volkswagen’s H1 profit up strongly at $2.4B

BERLIN – Automaker Volkswagen AG says its first-half net earnings surged to ???1.82 billion ($2.4 billion) as strong demand from China helped pushed sales higher.
Volkswagen’s profit for the January-June period was up from ???494 million a year earlier.
The company didn’t immediately offer second-quarter figures in a statement Thursday.
Volkswagen says …. Original source  : Automaker Volkswagen says 1st-half profit up strongly to $2.4 billion.

Visa profits exceed estimates

SAN FRANCISCO – Profits at Visa Inc. exceeded analysts’ expectations as an increasing number of consumers opted to pay with plastic.

The company with the world’s largest credit and debit card network, posted third-quarter (ended June 30) net income of $716 million, compared to $729 million in the year-ago period.
“Visa delivered a solid financial performance … Read more : Visa profits exceed estimates.

Japan iPhone carrier Softbank says business soared in April-June but profits fell due to taxes

Softbank profits fall in April-June on heavy taxes

TOKYO – Softbank Corp., which runs the only Japanese mobile carrier to offer the iPhone and iPad, said Thursday the popular products drove its strong performance last quarter, but its net profit fell 29 percent due to a tax hit.
The Tokyo-based Internet and communications conglomerate also said it … Read this article on Gaea Times at : Japan iPhone carrier Softbank says business soared in April-June but profits fell due to taxes.

Statoil Q2 profits surge on higher oil prices, production

Statoil posts Q2 profit surge
OSLO, Norway – Norwegian oil company Statoil ASA said second-quarter net profit surged to 3.6 billion kroner ($584 million) from only 77 million kroner a year earlier, as increased production and rising oil prices offset a weak natural gas market.

Quarterly revenue rose to 129 billion kroner from 104.6 billion kroner in … Read : Statoil Q2 profits surge on higher oil prices, production.

Panasonic returns to black on growing sales, raises full year forecasts

Panasonic returns to black as appliance sales boom

TOKYO – Panasonic, Japan’s biggest home appliance maker, returned to profit in its latest quarter and raised full year forecasts amid stronger sales of products from air conditioners to flat-panel TVs.
Panasonic Corp. reported Thursday that April-June profit totaled 43.7 billion yen ($502 million), a reversal from a 53 …. Source  : Gaea News Network.

Sensex ruling flat amid tardy global cues

MUMBAI – A benchmark index for Indian equities markets Thursday afternoon recovered after a brief slip but was still ruling flat amid sluggish global cues.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,961.58 points, was trading at 17,972.88 points, 15.51 points or 0.09 percent down from its previous …. Original article  : Sensex ruling flat amid tardy global cues.

UKIBC appoints new chief executive

LONDON – Richard Heald has been appointed the new chief executive of the UK India Business Council (UKIBC) that networks businesses, entrepreneurs and professionals of the two countries.

Heald is currently the vice chairman of N.M. Rothschild and Sons (India), where he has worked for 17 years and has been travelling to India for the …. Source  : Gaea News Network.

German chemicals maker BASF’s 2nd-quarter earnings soar to $1.5 billion

Chemicals maker BASF sees Q2 earnings triple

BERLIN – Second-quarter profits at BASF SE more than tripled as a recovering global economy boosted demand and industry restocked inventories after the recession, the chemicals company said Thursday.
BASF reported a net profit of euro1.18 billion ($1.5 billion) in the April-June period, up from euro343 million a year earlier.
Revenues … Read this article on Gaea Times at : German chemicals maker BASF’s 2nd-quarter earnings soar to $1.5 billion.

Nissan returns to profit on sales growth, sticks to full year forecast on global recovery

Nissan returns to profit on sales growth
TOKYO – Nissan Motor Co. veered back into the black in its latest quarter as global auto sales rebounded, putting the company on track to meet its yearly profit target.

Yokohama-based Nissan, maker of the Leaf electric vehicle and the March compact, said Thursday its profit was 106.6 billion yen … Read this article on Gaea Times at : Nissan returns to profit on sales growth, sticks to full year forecast on global recovery.

Rio Tinto and Chinalco sign agreement to establish Guinea joint venture

Rio Tinto and Chinalco sign iron ore deal
LONDON – Anglo-Australian mining company Rio Tinto PLC and China’s state-owned Chinalco have signed a binding agreement to establish a joint venture to operate an iron ore project in Guinea in West Africa.

London-based Rio Tinto said Thursday that Chalco, a subsidiary of Chinalco, will acquire a 47 percent [..] Read the original article: here.

Police scuffle with fuel-truck drivers after emergency order to end strike

Greek police tear gas protesting fuel drivers

ATHENS, Greece – Greek police used tear gas Thursday to disperse protesting fuel-truck drivers, whose strike is hurting tourism and industry, after the government issued an emergency order to force them back to work.
The scuffles occurred as some 500 drivers gathered in protest outside the transport ministry, but the …. Source  : Gaea News Network.

JCB launches its 100,000th machine manufactured in India

NEW DELHI – Road Transport and Highways Minister Kamal Nath and visiting British Business Secretary Vince Cable Thursday unveiled the 100,000th excavator manufactured by construction equipment maker J.C. Bamford (JCB) here.

“To develop India, we need to build roads and for that we need to make greater use of the the latest technology available. JCB has … Read the original article on Gaea Times at : JCB launches its 100,000th machine manufactured in India.

Germany’s Lufthansa reports 2nd-quarter profit of $252 million as ticket sales rise

Lufthansa reports Q2 profit of $252 million

BERLIN – Airline group Deutsche Lufthansa AG more than doubled its net earnings to ???194 million ($252 million) in the second quarter as ticket sales and its cargo business recovered, the company said Thursday.
Earnings in the April-June period compared with last year’s equivalent of ???89 million.
The company also said …. Source  : Gaea News Network.

BAE Systems returns to profit in first-half despite cuts to national defense budgets

BAE Systems returns to H1 profit
LONDON – BAE Systems PLC, Europe’s largest defense contractor, said Thursday that costs cuts and a focus on emerging markets helped it make a profit in the first half, reversing a year-ago loss despite worries about reductions to national defense spending.

BAE’s net profit of 618 million pounds ($965 million) for [..] Read the original article: here.

Food inflation falls to single digits at 9.67 percent

NEW DELHI – For the first time this year, India’s annual food inflation eased to single digits at 9.67 percent for the week ended July 17, from 12.47 percent a week earlier, providing relief to an embattled government facing a united opposition attack on rising prices.

Food inflation had remained above the 16 percent level for … Read : Food inflation falls to single digits at 9.67 percent.

Earnings at Germany’s Siemens up 9 percent at $1.9 billion in latest quarter

Siemens quarterly earnings up 9 percent
BERLIN – A strong increase in orders in a recovering economy helped push earnings at Siemens AG 9 percent higher in the most recent quarter, the industrial conglomerate said Thursday.

Siemens, based in Munich, reported net profit of nearly euro1.44 billion ($1.9 billion) for the April-June period, the company’s fiscal third …. Source  : Gaea News Network.