Emami Q1 net profit up 126.7 percent

KOLKATA – Diversified consumer non-durables group Emami posted a 126.7 percent rise in net profit at Rs.35.25 crore for the first quarter (April-June) of 2010-11.

It had logged a profit of Rs.15.55 crore during the corresponding period last fiscal, a company statement said here Friday.
The company’s international business with revenues of Rs.27 crore has grown … Read more : Emami Q1 net profit up 126.7 percent.

World stock markets fall weak Japanese economic figures take shine off strong earnings

World stocks fall as data takes shine off earnings

BANGKOK – World markets fell Friday, overlooking strong earnings in Asia and Europe as Japanese shares tumbled on a strong yen and dour economic figures ahead of a key U.S. growth report.
Global electronics giant Samsung reported an 83 percent surge in quarterly profit as sales of panels …. Original article on Gaea Times at  : World stock markets fall weak Japanese economic figures take shine off strong earnings.

Obama traveling to Michigan on Friday to sell good news story of government’s auto bailout

Obama to sell auto bailout good news in Michigan
WASHINGTON – President Barack Obama is going to the heart of the U.S. auto industry to push an important election-year claim: his administration’s unpopular auto industry bailout has turned into an economic good-news story.
With Americans facing a still-limping economy and potentially …. Source  : Obama traveling to Michigan on Friday to sell good news story of government’s auto bailout.

Renault in bigger than anticipated return to profit as first half car sales rise sharply

Renault returns to profit in first half
PARIS – Renault SA said Friday it returned to profit in the first half of the year as higher car sales in all regions helped reverse massive losses a year earlier.

Europe’s number three car maker behind Volkswagen AG and PSA Peugeot Citroen SA reported net profit of ???780 million … Read the original article on Gaea Times at : Renault in bigger than anticipated return to profit as first half car sales rise sharply.

Rs.4,868 crore compensation to public sector banks

NEW DELHI – The government Friday approved compensation of Rs.4,868 crore to public sector banks for providing loans to farmers at lower interest rates.

“The Cabinet today gave its approval for the release of a sum of Rs.4,868 crore as interest subvention to Public Sector Banks (PSBs), Regional Rural Banks (RRBs) and Cooperative Banks and to …. Original source  : Rs.4,868 crore compensation to public sector banks.

Samsung Electronics posts record second-quarter profit

SEOUL – South Korean electronics giant Samsung Electronics Co Friday posted a record 83 percent net profit rise for the second quarter, boosted by strong demand for chips and flatscreen televisions.

The net profit of the world’s largest semiconductor maker rose to 4.28 trillion won ($3.6 billion) from 2.33 trillion won year on year.
Operating …. Read the original article  : Samsung Electronics posts record second-quarter profit.

Bangladesh garment workers reject new minimum wage rates, clash with police

Bangladesh garment workers reject new wage rates
DHAKA, Bangladesh – Thousands of garment workers unhappy over their wages rampaged through central Dhaka on Friday, clashing with police who used tear gas and batons to clear the streets.
The protesters smashed vehicles and blocked traffic in Dhaka’s central Mahakhali district, the site of dozens of garment …. Source article on Gaea Times at  : Bangladesh garment workers reject new minimum wage rates, clash with police.

Goa to frame new mining policy

PANAJI – Faced with increasing civic protests against rampant mining in the state, the Goa government is considering framing a new mining policy.

In a written reply in the assembly, Chief Minister Digambar Kamat Friday also said his government is processing more than 600 applications for prospecting licences.
“The application for grant of prospecting … Original source on Gaea Times at : Goa to frame new mining policy.

Airbus parent EADS raises hopes for the full year, even as it reports decline in net profit

EADS raises outlook despite drop in Q2 profit

PARIS – EADS NV, the parent company of plane-maker Airbus, on Friday raised its outlook for 2010 – despite a 61 percent drop in second quarter earnings – as a resurgence in commercial aviation boosted hopes that a painful two-year downturn is over.
“We feel more comfortable for the …. Original article  : Airbus parent EADS raises hopes for the full year, even as it reports decline in net profit.

Mercedes to launch new models to stay ahead of competition

CHENNAI – Luxury car maker Mercedes Benz India is planning to launch new models, start a second shift and continue brand spend to stay ahead of competition in a market that is slated to grow at 50 percent this year.

The company is also looking forward to the launch of a finance arm by its … Read : Mercedes to launch new models to stay ahead of competition.

Chicken producers debate whether poultry injected with salt, water should qualify as ‘natural’

Chicken producers debate ‘natural’ label
SAN FRANCISCO – A disagreement among poultry producers about whether chicken injected with salt, water and other ingredients can be promoted as “natural” has prompted federal officials to consider changing labeling guidelines.

The U.S. Department of Agriculture had maintained that if chicken wasn’t flavored artificially or preserved with chemicals, it could carry … Read more : Chicken producers debate whether poultry injected with salt, water should qualify as ‘natural’.

New wages for Dhaka’s garment workers

DHAKA – Bangladesh has announced new wage scales for its ailing garment industry but the workers are still persisting with their Taka 5,000 ($71) minimum wage demand.

Many of the workers’ collectives threatened a stir Thursday, minutes after the government formally announced the new scales. An apprentice will get Taka 2,500 under the new wage … Original source on Gaea Times at : New wages for Dhaka’s garment workers.

Emerging markets drive Hitachi’s strong return to profit in April-to-June quarter

Hitachi climbs to profits on Asian demand
TOKYO – Hitachi Ltd., a maker of everything from home appliances to nuclear reactors, returned to profit last quarter as strong Asian demand fueled recovery in the auto and electronics sectors.

The company said Friday it booked a net profit of 86 billion yen ($989 million) for April through June …. Source  : Gaea News Network.

Sensex subdued, Asian cues negative

MUMBAI – A benchmark index for Indian equities Friday afternoon was trading quiet, tracking negative other Asian markets.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,981.06 points, was trading at 17,942.41 points, 49.59 points or 0.28 percent down from its previous close at 17,992 points.
At the National …. Source  : Gaea News Network.

France’s oil giant Total second quarter profit up 43 percent on stronger refinery business

France’s Total Q2 profit up 43 percent
PARIS – French oil company Total SA said Friday its second-quarter profit jumped 43 percent thanks to rising production and improving refinery activity after a rough 2009, and said it is reviewing drilling and accident policies after the BP spill.

Total reported euro3.1 billion ($4.05 billion) in profits for the … Read more : France’s oil giant Total second quarter profit up 43 percent on stronger refinery business.

Taiwanese eager to keep separate identity despite warming ties with rival China

Taiwanese wary about China amid warming ties

TAIPEI, Taiwan – In the crowded Taipei theater, Eddy Fang laughs politely at the Chinese ensemble’s comic references to jealous husbands and overweight wives but can’t help thinking it’s all a bit lowbrow in relatively sophisticated Taiwan.
The performance by the Zhao Benshan troupe from Liaoning province ostensibly aims to … Read more >>>.

Despite Obama’s boredom with BlackBerry, RIM to unveil new device

TORONTO – With Apple’s iPhone 4 threatening to topple it from its top perch in North America and even President Barrack Obama admitting on a TV show Thursday that using BlackBerry is “no fun” any more, the smartphone maker Research In Motion (RIM) seems all set to unveil a new device next week.

The Canadian wireless …. Original article on Gaea Times at  : Despite Obama’s boredom with BlackBerry, RIM to unveil new device.

Honda posts record quarterly profit on growth in Asia, North America, booming motorcycle sales

Honda posts record quarterly profit on sales rise

TOKYO – Honda’s quarterly profit ballooned to 272.4 billion yen ($3.2 billion) and the carmaker raised its full year earnings forecast as sales grew in North America, Japan and the rest of Asia.
The maker of the Insight hybrid, Fit subcompact and Odyssey minivan said Friday its profit for … Original source on Gaea Times at : Honda posts record quarterly profit on growth in Asia, North America, booming motorcycle sales.

Airbus parent EADS reports 61 percent decline in net profit, increases 2010 guidance

EADS Q2 net profit decline 61 percent
PARIS – EADS NV, the parent company of plane-maker Airbus, on Friday raised its outlook for 2010 – despite a 61 percent drop in second quarter earnings – as its commercial aviation business takes off.

Louis Gallois, the CEO of Paris-based European Aeronautic Defence & Space Co., in a statement …. Original source  : Airbus parent EADS reports 61 percent decline in net profit, increases 2010 guidance.

Invest in India’s water and sanitation sectors: US official

WASHINGTON – Noting that 12 percent of India’s over 1.2 billion people still lack access to safe drinking water, the US has asked donors to make targeted investments in India’s water and sanitation sector.

“Targeted investments, even very small ones, in the water and sanitation sector can have indisputable economic and public health benefits,” Robert Blake, … Read more : Invest in India’s water and sanitation sectors: US official.