Hyundai domestic sales up by about 19 percent

NEW DELHI – Hyundai Motor India Ltd, the country’s second largest car manufacturer and the largest passenger car exporter, continued to be on a growth trajectory with the domestic sales growing by 18.9 percent in June 2010 over the same month last year.

HMIL domestic sales in June 2010 was 27,366 as opposed to … Read more >>.

TVS Motor logs 36 percent sales growth in June

CHENNAI – Two wheeler manufacturer TVS Motor Company has clocked a 36 percent increase in sales last month as compared to the volume it logged in June 2009.

The company last month sold 156,685 two wheelers (domestic 139,905 units, exports 16,780 units) as against 115,448 units (domestic 105,361 units, exports 10,087 units) in June 2009.
Within …. Source article on Gaea Times at  : TVS Motor logs 36 percent sales growth in June.

World stocks fall on worries over Europe after Spain warned of downgrade, China slowdown

World stocks down on Europe, China growth doubts

BANGKOK – World stock markets were in retreat Thursday amid new concerns about Europe’s economic outlook after a warning Spain’s debt rating may be downgraded and evidence that China’s manufacturing growth is slowing.
Oil prices fell below $75 a barrel in Asia as wilting stock markets dragged down the … Read more »».

Retail sales gain offers hope for German domestic demand; minister defends export strength

German consumer spending shows signs of life
BERLIN – A small rise in retail sales offered a hopeful sign Thursday for Germany’s long-sluggish domestic demand, even as the country’s economy minister mounted a robust defense of its export-heavy recipe for success.
Retail sales were up 0.4 percent on the month in May following declines in …. Read the original article  : Retail sales gain offers hope for German domestic demand; minister defends export strength.

World’s first flying car gets green signal to take-off (Lead, changing dateline)

TORONTO – The world’s first flying car, which was caught in a legal snarl in the US, has finally been given the green signal.

Being developed by Boston-based Terrafugia Transition since 2006, the dual-purpose car-cum-plane vehicle called ‘the flying car’ has got the waiver on its weight from the American Federal Aviation Administration (FAA).
Under FAA … Read the original article on Gaea Times at : World’s first flying car gets green signal to take-off (Lead, changing dateline).

RBI announces rate of interest on Floating Rate Bonds 2015

The rate of interest on the Floating Rate Bonds, 2015 (FRB, 2015) applicable for the year (July 2, 2010 to July 1, 2011) shall be 5.66 percent per annum.
It may be recalled that the rate of interest on the FRB, 2015 was set at …. Original article on Gaea Times at  : RBI announces rate of interest on Floating Rate Bonds 2015.

RBI announces rate of interest on Floating Rate Bonds, 2017

The rate of interest on the Floating Rate Bonds, 2017 (FRB, 2017) applicable for the half-year (July 2, 2010 to January 1, 2011) shall be 5.56 per cent per annum.
It may be recalled that the rate of interest on the FRB, 2017 was set at a mark-up (as decided …. Original article  : RBI announces rate of interest on Floating Rate Bonds, 2017.

Food inflation cools down to 12.9 percent

NEW DELHI – India’s annual food inflation slowed to 12.9 percent for the week ended June 19 due to what analysts said a weakening base effect.

The food inflation was at 16.9 percent during the previous week.
A 40 per cent fall in potato prices and 7 per cent decline in onion prices and single-digit rises …. Source  : Food inflation cools down to 12.9 percent.

Union: SoCal port clerks striking after contract expires without new pact

SoCal port clerks striking after contract expires

LOS ANGELES – Clerical workers at several terminals at the country’s busiest port complex went on strike after their contract expired early Thursday without a new labor agreement, a union spokesman said.
There was no extension when the labor contract elapsed at 12:01 a.m. PDT Thursday, said Stephen Berry, lead [..] Read the original article: here.

Certificate of Registration of M/s. Greenbay Finance and Investments Limited ??? Cancelled

The Reserve Bank of India has on June 7, 2010 cancelled the certificate of registration granted on March 11, 1998 to M/s. Greenbay Finance and Investments Limited having its registered office at Plot No. 15 & 16, Road No. 9, Jubilee Hills, Hyderabad – 500 033 for carrying …. Source article  : Certificate of Registration of M/s. Greenbay Finance and Investments Limited ??? Cancelled.

Certificate of Registration of Zoom Exports Limited ??? Cancelled

The Reserve Bank of India has on June 3, 2010 cancelled the certificate of registration granted on May 24, 2000 to Zoom Exports Limited having its registered office at 98, Hardsoft Towers, 21st Main, Banashankari 2nd Stage, Bangalore – 560070 for carrying on the business of a …. Source article on Gaea Times at  : Certificate of Registration of Zoom Exports Limited ??? Cancelled.

Swedish central bank hikes key interest rate by 0.25 pctage points to 0.5 percent

Swedish central bank ups interest rate to 0.5 pct

STOCKHOLM – The Swedish central bank on Thursday raised its key interest rate by a quarter percentage point to 0.5 percent for the first time in two years, saying the economy is recovering strongly from last year’s global downturn.
The central bank has kept the key repo rate … Original article on : Swedish central bank hikes key interest rate by 0.25 pctage points to 0.5 percent.

Nagarjuna leads race for India-Nepal border check post project

KATHMANDU – A joint venture between Indian construction major Nagarjuna Construction Company and Mumbai’s inter-border check post specialist KS Softnet Solutions is leading the race for a government of India-funded Rs.87 crore project on the India-Nepal border.

Out of six Indian companies who bid for the construction of the integrated check post (ICP) in Birgunj in …. Source  : Gaea News Network.

China allows duty-free access to Bangladesh goods

DHAKA – Beginning Thursday, China will provide duty-free entry to major Bangladeshi products with an aim to offset the annual trade gap of $2.5 billion.

The new arrangement follows top level parleys. Prime Minister Sheikh Hasina went to Beijing and Chinese Vice President Xi Jinping was here last month when a series of pacts were signed. …. Source  : Gaea News Network.

Himachal gets 34 percent more rain in June

SHIMLA – Himachal Pradesh received 34 percent more rain than the average for this time last month despite a delayed monsoon, the weatherman said Thursday.

“The state got 34 percent more rain in June. It got 126 mm of rain against the normal of 94.1 mm,” Manmohan Singh, director of the meteorological office here, told IANS. …. Source  : Himachal gets 34 percent more rain in June.

China’s Xinhua News Agency launches international English TV network this week

China launches global 24-hour English TV news

BEIJING – China’s biggest national news agency launched its global, English-language television news network on Thursday as part of efforts to expand the communist government’s influence abroad.
Experts say China’s media expansion also results from unhappiness with much of the international coverage of sensitive events in China such as Tibet …. Source article on Gaea Times at  : China’s Xinhua News Agency launches international English TV network this week.

Google fails to make China’s mapping list

BEIJING – Google Inc has not found a place on the initial list of companies that China plans to approve to provide online mapping services in the country, a media report said Thursday.

Twenty-three domestic companies including Baidu, Alibaba and Sohu are among those expected to be granted a licence to provide the services, the State …. Original source  : Google fails to make China’s mapping list.

In Mass., lawmakers torn between casinos’ lure and state’s Puritan roots, public health credos

In Mass., a politically correct casino debate

BOSTON – Massachusetts lawmakers enthralled with the lure of easy casino cash are having a tough time squaring the 24-hour world of smoke-filled, free-booze gambling haunts with the state’s Puritan roots and high-minded liberal reputation.
During lengthy debates in the Massachusetts House and Senate, legislators have weighed all sorts of …. Source  : Gaea News Network.

SoCal port clerks’ contract expires, no new agreement or extension

SoCal port clerks’ contract expires
LOS ANGELES – A contract between 900 clerical workers and shipping companies at the nation’s busiest port complex has expired without a new agreement.

The current contract expired at 12:01 a.m. Thursday and there is no extension, said Stephen Berry, lead negotiator for the Harbor Employers Association which represents 14 shippers and … Original source on Gaea Times at : SoCal port clerks’ contract expires, no new agreement or extension.

Fortis offers to buy entire Parkway holding

MUMBAI – India’s Fortis Healthcare Thursday offered to buy out the entire stake of Singapore’s Parkway Holdings, which operates 16 hospitals in the Asia-Pacific region, topping a bid by rival Malaysian state fund Khazanah.

Fortis Healthcare, promoted by brothers Malvinder and Shivinder Singh, had bought a 24-percent stake in Parkway Holdings for $685.3 million, but has … Original article on : Fortis offers to buy entire Parkway holding.

Spokesman for striking Los Angeles-Long Beach port clerks says contract talks may resume

Talks could resume in SoCal port clerk strike

LOS ANGELES – Negotiators for the striking clerical workers at the ports of Los Angeles and Long Beach have agreed to restart contract talks with shippers and terminal operators soon, a union representative said.
John Fageaux Jr., president of the International Longshore Warehouse Union local that represents the workers, … Read more »»».

World markets mixed ahead of key US jobs report amid fears of slowing global recovery

World markets mixed ahead of US jobs report

SINGAPORE – World stock markets were mixed Friday as investors awaited a crucial reading on the U.S. jobs market that comes amid signs economic recovery is losing momentum around the world.
The choppy trading in Asia and Europe followed Wall Street beginning the third quarter with another loss after …. Original article on Gaea Times at  : World markets mixed ahead of key US jobs report amid fears of slowing global recovery.

Schwarzenegger’s minimum wage order pressures lawmakers, unions in budget battle

Calif. gov pressures lawmakers in budget battle

SACRAMENTO, Calif. – Gov. Arnold Schwarzenegger’s order to pay 200,000 state workers just the minimum wage sent a signal to California lawmakers: In the impasse over closing California’s $19 billion budget deficit, Schwarzenegger is ready to play hardball.
The Legislature’s deadline to send a spending plan to the governor passed …. Source  : Schwarzenegger’s minimum wage order pressures lawmakers, unions in budget battle.

Indian mines minister to visit Canada

TORONTO – Close on the heels of India and Canada signing a memorandum of understanding (MoU) in mining last week, India’s mines minister Bijoy Krishna Handique will visit Canada next week to invite leading mining companies to India. Canada is home to the largest number of mining companies in the world.

During his visit from … Read this article on Gaea Times at : Indian mines minister to visit Canada.

RBI releases draft Guidelines on Compensation of Whole Time Directors/CEOs/Risk takers and Control Function Staff of Private Sector and Local Area Banks and Foreign Banks operating in India

The Reserve Bank today released on its website, draft guidelines (www.rbi.org.in/scripts/bs_viewcontent.aspx?Id=2223) on compensation of whole time directors/chief executive officers/risk takers and control function staff of private sector and local area banks and all foreign banks operating in India for comments and feedback. Comments/feedback on the draft guidelines may …. Source  : Gaea News Network.

Oil hovers near $73 in Asia as investors look to US jobs report amid pessimism about economy

Oil hovers near $73 as traders eye US jobs report

SINGAPORE – Oil prices hovered near $73 a barrel Friday in Asia as investors look to the monthly U.S. jobs report for clues about the strength of global crude demand.
Benchmark crude for August delivery was up 15 cents to $73.10 a barrel at late afternoon Singapore …. Original source  : Oil hovers near $73 in Asia as investors look to US jobs report amid pessimism about economy.

India out of Nepal’s new passport deal

KATHMANDU – Amid growing security concerns in India about the misuse of Nepali passports, Indian companies seeking to bid for a fresh passport deal in Nepal have crashed out due to unfavourable yardsticks.

India’s state-owned Security Printing and Minting Corporation of India Ltd (SPMCIL), which had been awarded the contract to print modern, machine-readable Nepali passports …. Source article on Gaea Times at  : India out of Nepal’s new passport deal.

Spain jobless claims down 2 percent in June, third straight monthly decline

Spain jobless claims down sharply in June
MADRID – Spain says the number of people seeking unemployment benefits fell by nearly 84,000 in June as companies stepped up hiring for the summer tourism season.

The 2 percent drop marked the third straight monthly decline and made for the best month of June – traditionally good for job-creation …. Original source  : Spain jobless claims down 2 percent in June, third straight monthly decline.

SAIL’s Bhilai unit records best ever Q-1 output

RAIPUR – Bhilai Steel Plant, the highest profit-making unit of India’s largest steel maker in the public sector, Steel Authority of India Ltd (SAIL), has recorded the best ever first quarter (April-June) output, the plant said Friday.

“The plant recorded the best ever hot metal production of 1.39 million tonne (MT) in first quarter in fiscal …. Source  : Gaea News Network.

Their ‘moon shot’: Blind organization to showcase vehicle that can be driven by the blind

Group to show car that can be driven by the blind

WASHINGTON – For advocates of the blind, it’s akin to reaching the unreachable goal of landing a man on the moon: developing a vehicle that a blind person could drive.
The National Federation of the Blind and Virginia Tech plan to demonstrate a prototype vehicle next …. Read the original article  : here.

No green means no red-white-and-blue spectacular for some towns, cities this July Fourth

No bucks, no boom for the Fourth
WASHINGTON – Expect fewer booms this July Fourth because of financial busts in some cities and towns.

As many folks pack up picnics and head to see the fireworks this holiday weekend, the skies over a couple-dozen cash-strapped communities will be missing the spectacular crackle of color that Americans associate …. Read the original article  : here.

Opera house v. tennis dome: Kan. race for Senate reveals tricky business of earmarks

Kan. race shows earmarks are tricky business

McPHERSON, Kan. – For some members of Congress, bringing home the bacon isn’t what it used to be. And for two of them seeking represent Kansas in the U.S. Senate, it’s become a bad career move.
U.S. Rep. Jerry Moran is locked in a bitter primary fight for the Republican … Read this article on Gaea Times at : Opera house v. tennis dome: Kan. race for Senate reveals tricky business of earmarks.

Sensex crawls up after a brief slip, Asia weak

MUMBAI – A key index for Indian equities Wednesday crawled back into the green after a brief slip into the red, even as other Asian markets took a tumble.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,523.47 points, was ruling at 17,548.21 points, 38.88 points or 0.22 percent up … Read more »»».

UK’s Chloride accepts Emerson’s sweetened takeover bid

UK’s Chloride accepts Emerson’s takeover bid

LONDON – British power supply company Chloride Group said Friday that it has accepted an improved takeover bid from U.S. competitor Emerson Electric Co. that values it at 997 million pounds ($1.5 billion).
Chloride said its board unanimously recommended that shareholders accept Emerson’s offer of 375 pence per share.
Emerson clinched the …. Source article on Gaea Times at  : UK’s Chloride accepts Emerson’s sweetened takeover bid.

Now, read comics on your mobile phone

NEW DELHI – Comics’ publishers, once lamenting dropping sales as youth turn to the internet and other media for entertainment, are now laughing all the way to the bank after providing their works on mobile phones to attract the generation on the move.

According to industry estimates, two major comics publishers – Amar Chitra Katha and …. Original article  : Now, read comics on your mobile phone.

ITA Software Acquired By Google

SAN FRANCISCO, (GaeaTimes.com)- ITA Software which happens to a flight-information software company has been acquired by Google. Reportedly, the world’s largest search engine plans to venture into travel business and have fixed a deal to purchase ITA Software for a whopping sum of $700 million in cash.
The decision to acquire ITA Software was announced …. Original source  : ITA Software Acquired By Google.

Finnair plans to reduce emissions by 41 percent by 2017

NEW DELHI – Nordic carrier Finnair says it plans to reduce aircraft emissions by 41 percent by 2017 through continuing fleet renewals.

“Our goal is to reduce emissions between 2009 and 2017 by 24 percent per seat and per 100 kilometres. Between 1999 and 2009 we succeeded in reducing emissions by 22 percent. Our ambitious …. Source  : Gaea News Network.

Asian markets mostly down ahead of key US jobs report amid fears of slowing global recovery

Asia stocks mostly down ahead of US jobs report

SINGAPORE – Most Asian stock markets posted losses Friday as investors awaited a crucial reading on the U.S. jobs market that comes amid signs economic recovery is losing momentum around the world.
The downdraft in Asia followed Wall Street beginning the third quarter with another loss after reports …. Source article  : Asian markets mostly down ahead of key US jobs report amid fears of slowing global recovery.

Gazans endure worst power cuts in 4 years, as political rivals quarrel over electricity bill

Longer blackouts for Gaza, as politicians quarrel

GAZA CITY, Gaza Strip – An escalating dispute between the rival Palestinian governments over who should pay Gaza’s electricity bill has caused some of the worst power cuts here in years, leaving Gazans stewing in sweltering heat and cursing politicians of all stripes.
Gazans are used to daily blackouts, especially … Original article on : Gazans endure worst power cuts in 4 years, as political rivals quarrel over electricity bill.

Australia relents on ’super tax’ on mineral company profits, aims for smaller resource tax

Australia relents on contentious mining profit tax

CANBERRA, Australia – Australia’s government on Friday retreated from a planned 40 percent tax on booming profits in the mining industry, defusing a damaging row with big business and clearing the way for national elections to be called at any time.
Mining companies had campaigned mightily against the proposed tax, …. Original article on Gaea Times at  : Australia relents on ’super tax’ on mineral company profits, aims for smaller resource tax.

Opposition gears up for nationwide shutdown

NEW DELHI – Normal life is expected to be hit in parts of India Monday as the divided opposition joins hands to enforce a nationwide shutdown to protest against rising prices and the fuel price hike.

For the first time in a long time, while still remaining ideologically poles apart, the Left and Right are separately … Read more >>>.

Boards of two energy firms of Anil Ambani group to decide merger

MUMBAI – The boards of two energy firms belonging to the Reliance Anil Dhirubhai Ambani Group (ADAG), one in the business of generating power and the other that trades and transports oil and gas, meet Sunday to consider a merger.

The companies in question are Reliance Natural Resources which is proposed to be merged with Reliance …. Original article on Gaea Times at  : Boards of two energy firms of Anil Ambani group to decide merger.

Clinton arrives in Poland; on her agenda, speaking on democracy, re-signing of missile pact

Clinton arrives in Poland to promote democracy

KRAKOW, Poland – US Secretary of State Hillary Rodham Clinton has arrived in the Polish city of Krakow to speak at an international conference on the promotion of democracy.
She also was to witness the signing of a technical amendment to a US-Poland agreement on missile defense.
The amendment adjusts an … Read : Clinton arrives in Poland; on her agenda, speaking on democracy, re-signing of missile pact.

Haryana mango production soars

CHANDIGARH – Mango cultivation is gaining ground in Haryana with its production and area under cultivation increasing by nearly three times in two decades, an official said Saturday.

Financial Commissioner Roshan Lal said that mango production went up from 19,900 tonnes in 1990-91 to 64,570 tonnes in 2009. He attributed this to the use of latest … Read more >>>.

Negotiator says contract talks with striking LA-Long Beach port clerks resume

Talks resume in California port clerk strike

LOS ANGELES – Negotiators for striking clerical workers and shippers at the ports of Los Angeles and Long Beach are talking again.
Stephen Berry, lead negotiator for the Harbor Employees Association which represents the shippers, said that talks resumed Friday night and concluded shortly before midnight. Talks were set to … Read : Negotiator says contract talks with striking LA-Long Beach port clerks resume.

Haryana to have nuclear energy centre

CHANDIGARH – The Department of Atomic Energy (DAE) will set up a Global Centre for Nuclear Energy Partnership in the adjoining villages of Jasaur Kheri and Kheri Jasaur in Haryana’s Jhajjar district, officials said Saturday.

The centre’s project director, G.P. Srivastav, and other DAE officials visited the site Friday to inspect it.
Srivastav said four schools … Original source on Gaea Times at : Haryana to have nuclear energy centre.

Philanthropy can be profit in disguise for corporates

NEW DELHI – If, as a corporate, you that think employing a physically challenged person is just philanthropy, think again. It may actually benefit your business if you harness the talent in the right way. The idea of bringing corporates and the physically challenged closer for mutual gain is part of an NGOs initiative aimed …. Read the original article  : Philanthropy can be profit in disguise for corporates.

Delhi’s new airport terminal inaugurated by PM (Second Lead)

NEW DELHI – Prime Minister Manmohan Singh Saturday inaugurated a glitzy new terminal at the Indira Gandhi International Arport here, stated to be the sixth largest and among the most modern in the world, built in record 37 months at a cost of nearly $3 billion.

The actual operations though will start July 16 for international …. Original article  : Delhi’s new airport terminal inaugurated by PM (Second Lead).

American business seeks incentives for educational investment in India

WASHINGTON – The US-India Business Council has expressed support for the Foreign Education Bill pending before the Indian parliament, but said certain financial requirements could deter foreign educational institutions from investing in India.

In a letter to Human Resource Development Minister Kapil Sibal, the trade association representing over 300 leading US firms investing in India said …. Read the original article  : American business seeks incentives for educational investment in India.

PM inaugurates new international airport terminal

NEW DELHI – Prime Minister Manmohan Singh Saturday inaugurated the new Terminal 3 of the Indira Gandhi International Airport (IGIA) here.

The prime minister unveiled a plaque to mark the opening at 10.40 a.m. at a function also attended by United Progressive Alliance (UPA) chairperson Sonia Gandhi.
Civil Aviation Minister Praful Patel, Delhi Chief Minister …. Read the original article  : PM inaugurates new international airport terminal.

Dolphin-hunting documentary ‘The Cove’ screens in Japan after protests delay opening

Japan shows ‘The Cove’ after delay from protests

TOKYO – “The Cove,” an Oscar-winning film about a Japanese dolphin-hunting village, opened Saturday around Japan after protests by angry nationalists pressured theaters to cancel earlier showings.
Some of the six small cinemas sold out their initial shows and others were mostly empty. Another 18 are due to begin …. Source  : Dolphin-hunting documentary ‘The Cove’ screens in Japan after protests delay opening.

New terminal in New Delhi opens

NEW DELHI – Prime Minister Manmohan Singh Saturday inaugurated the new Terminal 3 of the Indira Gandhi International Airport (IGIA) here.

The prime minister unveiled a plaque to mark the opening at about 10.40 a.m. at a function also attended by United Progressive Alliance (UPA) chairperson Sonia Gandhi.
…. Source article on Gaea Times at  : New terminal in New Delhi opens.

Negotiator says contract talks with striking LA-Long Beach port clerks to restart Friday night

Talks to resume in California port clerk strike

LOS ANGELES – Negotiators for striking clerical workers at the ports of Los Angeles and Long Beach planned to restart contract talks Friday night with shippers and terminal operators.
The Harbor Employees Association, which represents the shippers, said in a statement that its negotiators will meet “in the hope … Read : Negotiator says contract talks with striking LA-Long Beach port clerks to restart Friday night.

Main Event: Cavaliers, Bulls set to square off with final-day pitches to LeBron James

Bulls, Cavs prepared to fight for LeBron
CLEVELAND – The preliminary bouts are finished. It’s time for the main event in the fight for LeBron James, free agent extraordinaire.

Chicago vs. Cleveland.
To the winner, the crowned King. Maybe.
With New Jersey, New York, Miami and the Los Angeles Clippers having come and gone after making their pitches to … Read more : Main Event: Cavaliers, Bulls set to square off with final-day pitches to LeBron James.

Product Recalls: dog treats

Product Recalls: dog treats
The following recall has been announced:

- Merrick Pet Care Inc. is recalling one lot of 10-ounce bags of Beef Filet Squares for Dogs because the dog treats could be contaminated with salmonella. Salmonella can affect animals, and people who handle contaminated pet food can become infected with salmonella, especially if they haven’t …. Source  : Product Recalls: dog treats.

Summary Box: Interest rates post small moves after government says job growth remains weak

Summary Box: Treasurys move modestly on jobs data

MODEST MOVES: Interest rates were little changed in the bond market Friday after the government said private employers hired fewer workers in June than analysts had forecast.
WEAK SHOWING: The government said private employers hired 83,000 workers last month, below economists’ forecast for a gain of 112,000 jobs. Overall, … Read : Summary Box: Interest rates post small moves after government says job growth remains weak.

More people traveling this year for July 4th, though many still stick close to home

July 4th travel rolls on, a little close to home

PHILADELPHIA – Standing in line on hot asphalt waiting to see the Liberty Bell, Don Shelley couldn’t help but think that, if the nation’s economy were better, he would be basking on a beach in Hawaii.
Shelley, of Mesa, Ariz., turned 50 on Friday, and his wife … Read : More people traveling this year for July 4th, though many still stick close to home.

Summary Box: Stocks drop 7th day in the longest slump since the height of the financial crisis

Summary Box: Stocks fall after jobs disappoint

EXTENDED SLIDE: The Dow Jones industrials fell 46 points Friday for their seventh straight drop. It was the longest losing streak since October 2008, the height of the financial crisis.
JOB STRESS: A disappointing jobs report brought more worries about the pace of the economy’s recovery. The government said private …. Source  : Gaea News Network.

Nev. lawmaker seeks to repeal parts of 1875 eminent domain law that favor mining companies

Mining co., Nev. ranch settle eminent domain suit

RENO, Nev. – A state lawmaker said Friday she wants to repeal provisions of an 1875 state law that give mining companies essentially the same power of eminent domain as government.
Assemblywoman Sheila Leslie, D-Reno, announced her plans a day after a Canadian-based mining company and a Nevada ranch …. Source  : Nev. lawmaker seeks to repeal parts of 1875 eminent domain law that favor mining companies.

Person familiar with talks says Bucks, Salmons agree to $40 million, 5-year deal

AP source: Bucks, Salmons agree for $40M
MILWAUKEE – Another day, another deal for the Milwaukee Bucks, who have suddenly become one of the biggest buyers during the most-hyped free agency period in NBA history.

The Bucks made another major move Friday, agreeing in principle to a $40 million, five-year deal with free agent guard John Salmons, …. Source article on Gaea Times at  : Person familiar with talks says Bucks, Salmons agree to $40 million, 5-year deal.

New road links Sharjah with Dubai, Abu Dhabi

Dubai, July 4 (IANS/WAM) A new 70 km-long road linking the emirate of Sharjah, Dubai and Abu Dhabi has been completed that will benefit motorists.

The Roads and Transport Authority (RTA) of the UAE has completed the construction of Dubai Bypass Road.
All phases of the construction of the project, costing over one billion dirhams (about …. Read the original article  : New road links Sharjah with Dubai, Abu Dhabi.

After new terminal, Delhi airport to have multi-level parking

NEW DELHI – Driving to the Indira Gandhi International (IGI) Airport here and worried about finding parking space? Not any more. Come July 16 and the new Terminal-3 (T3) will boast of the largest multi-level car parking (MLCP) facility in the country, with a capacity of 4,300 cars.

“For an infrastructure facility like an airport, a …. Source  : After new terminal, Delhi airport to have multi-level parking.

Indian packaging firm eyes African market

DUBAI – India’s leading flexible packaging company UFLEX is all set to make ambitious forays into Africa with its state-of-the-art plant in Egypt starting production this month.

“We have set up a manufacturing unit in Egypt for producing flexible packaging material such as polyester films which would help us to cater to African countries more efficiently. …. Read the original article  : Indian packaging firm eyes African market.

Brazil’s Embraer proposes regional jets for India

Sao Jose dos Campos,BRAZIL – A growing appetite among Indian carriers to serve regional routes makes the country a potentially big market for 250 regional jets with a capacity of up to 120 seats, Brazil’s aircraft maker Embraer.

In India, around 250 low-to-medium-density routes remain unused, as they are not profitable to run with narrow-bodied aircraft. … Original source on Gaea Times at : Brazil’s Embraer proposes regional jets for India.

Dubai World’s Nakheel property arm gets control of Limitless real estate unit in reshuffle

Dubai World further reshuffles business units

DUBAI, United Arab Emirates – The main property unit of Dubai World has been given control of another real estate company run by the indebted state conglomerate.
Dubai’s media office said in a statement dated Saturday that Dubai World’s Nakheel division will assume management responsibility for the conglomerate’s Limitless unit.
The company … Read this article on Gaea Times at : Dubai World’s Nakheel property arm gets control of Limitless real estate unit in reshuffle.

Land of Krishna protests ban on peacock feather trade

VRINDAVAN – The national bird needs to be protected, but there is a flip side to the proposed ban on the domestic trade of peacock feathers.

Just ask the hundreds of workers who earn their living selling products made from the multi-hued feathers.
In this land of the Hindu god Krishna, always portrayed with a peacock … Read the original article on Gaea Times at : Land of Krishna protests ban on peacock feather trade.

Negotiator says little progress in contract talks with striking LA-Long Beach port clerks

Talks resume but progress slow in LA port strike

LOS ANGELES – There has been “little progress” despite hours of late-night and weekend talks between striking clerical workers and shipping companies at the nation’s busiest port, negotiators said Saturday.
Stephen Berry, lead negotiator for the Harbor Employees Association, which represents the shippers, said talks for much of … Read more >>>.

Wave of Oregonians nearing end of jobless benefits; state extension is ending for 3,000

Wave of Oregonians nearing end of jobless benefits

EUGENE, Ore. – Oregonians by the thousands are using up the last of their unemployment benefits, many after as long as two years.
So far this year, more than 14,000 Oregonians have run out of jobless benefits, the state Employment Department reported Friday. That includes about 3,000 people drawing …. Original article  : Wave of Oregonians nearing end of jobless benefits; state extension is ending for 3,000.

Colorado company recalls 66,000 pounds of bison meat after link to E. coli sicknesses

Colorado bison meat recalled after link to E. coli

HENDERSON, Colo. – A Colorado company has recalled 66,000 pounds of bison meat sold nationwide after federal agriculture officials linked it to E. coli sicknesses.
Rocky Mountain Natural Meats in Henderson recalled the ground and tenderized bison after it was linked to sickening five people in Colorado and …. Read the original article  : Colorado company recalls 66,000 pounds of bison meat after link to E. coli sicknesses.

SBI’s West Bengal staff association defer stir

KOLKATA – The two-day strike that was called by State Bank of India (SBI) Staff Association (Bengal Circle) has been deferred following assurance by the management for discussions in the second week of this month.

“The strike (July 5 and 6) has been deferred following assurance from the management for discussions in the second week of … Read more >>.

UAE, Ireland agree on tax break for investors

Abu Dhabi, July 3 (IANS/WAM) The United Arab Emirates has signed an agreement with the Republic of Ireland to give tax relaxation to the investors of each other’s country.

According to an agreement signed between the Director General of finance ministry Younis Haji Al Khoori and the Ireland’s ambassador to UAE, people having businesses in both …. Original source  : UAE, Ireland agree on tax break for investors.

Poland wants to set up metal packaging unit in Haryana

CHANDIGARH – Poland wants to set up a metal packaging factory in Haryana, its Ambassador to India, Piotr Klodkowski said Saturday.

Klodkowski, who met Chief Minister Bhupinder Singh Hooda in New Delhi, made the offer and sought co-operation of the state government in identifying land and getting other facilities, according to an official statement here. … Original article on : Poland wants to set up metal packaging unit in Haryana.

Gujarat organises event to promote millet

GANDHINAGAR – Gujarat Saturday celebrated “Nagli Mahotsav” to popularise delicacies made from the highly nutritious finger millet, grown in the predominantly tribal hilly district of Dang bordering Maharashtra.

An official spokesperson said here that during the event, the government-sponsored village development agencies arranged marketing drives to popularise delicacies made from nagli by women self-help groups. … Read this article on Gaea Times at : Gujarat organises event to promote millet.

Mulberry acreage to be expanded for boosting silk output

BANGALORE – The central government will facilitate expanding mulberry acreage to boost raw silk production and revive the sericulture sector, Textiles Minister Dayanidhi Maran said Saturday.

“The mulberry acreage will be increased to 2.13-lakh hectares this fiscal from 1.9-lakh hectares and provide irrigation facility to about 10,000 hectares to boost the sericulture sector, which has been … Read the original article on Gaea Times at : Mulberry acreage to be expanded for boosting silk output.

As US fights, China spends billions to build a footprint in Afghanistan

As US fights, China spends to gain Afghan foothold

KABUL, Afghanistan – Gul Akbar’s tiny store is crammed from floor to ceiling with rolls of electric cables, plugs of all sizes and piles of extension cords. Virtually everything comes from China, as do most of the appliances and electronics being sold in Kabul’s busy Nader Pashtun …. Read the original article  : here.

With eye for bargains and stomach for risk, investors sift through wreckage of housing bust

Finding gold in them thar foreclosures
GILBERT, Ariz. – If we’re going to search for gold in the wreckage of the mortgage crisis, then 6:57 a.m. in front of 1009 W. Juanita Ave. is as good a time and place as any to start.

The Cooper Ranch subdivision, tucked behind an industrial park 25 minutes from downtown … Original source on Gaea Times at : With eye for bargains and stomach for risk, investors sift through wreckage of housing bust.

Mortgage rates are a screaming buy. So where are the bargain-hunters?

Mortgage rates scream buy, but who is listening?

An odd scene has been playing out lately in the offices of mortgage brokers and bankers around the country.
Mortgage rates have sunk to levels not seen in more than a half-century – a seductive 4.58 percent for an average 30-year fixed loan. Yet brokers and lenders report not …. Source article  : Mortgage rates are a screaming buy. So where are the bargain-hunters?.

Job cuts for state and local government workers could deepen in 2nd half of year

State and local gov’t workers’ job security fades

For years, most people who worked for state or local governments accepted a fact of life: Their pay wasn’t great. The job security was.
Now that’s gone, too.
States and municipalities are facing gaping budget gaps. Many have responded by slashing services, raising taxes and, for the first time in … Read : Job cuts for state and local government workers could deepen in 2nd half of year.

Hegde backs Yeddyurappa’s plea to ban ore exports

BANGALORE – Karnataka Lok Ayukta (ombudsman) N. Santosh Hegde who withdrew his resignation Saturday, said he supports state Chief Minister B.S. Yeddyurappa’s appeal to the prime minister to ban export of iron ore and other minerals.

“It is a wonderful idea. It can be put in place without difficulty, though there will be lobbies (against the … Read : Hegde backs Yeddyurappa’s plea to ban ore exports.

Manmohan hails public-private partnership

KANPUR – Hailing public-private partnership as the key to many success stories, Prime Minister Manmohan Singh Saturday emphasized the need for promoting the arrangement to enhance the rate of growth of the country.

Speaking at the 125th birth anniversary celebrations of noted industrialist Kamlapati Singhania at the Merchants’ Chamber of Uttar Pradesh here, he said: “our … Read : Manmohan hails public-private partnership.

Governments’ approach to CAG reports ’sluggish’: Meira Kumar

NEW DELHI – Lok Sabha Speaker Meira Kumar Monday criticised the “sluggish” approach of the central and state governments towards the Comptroller and Auditor General’s (CAG) reports and underlined that transparency was the driving force of good governance.

“The response of ministries in taking action on the CAG’s reports has not been very encouraging,” Meira Kumar …. Source  : Governments’ approach to CAG reports ’sluggish’: Meira Kumar.

Israel eases Gaza blockade, but restrictions on construction materials remain in place

Israel completes list of items banned in Gaza
JERUSALEM – Israel on Monday redefined the rules of its Gaza Strip embargo, spelling out on the eve of Prime Minister Benjamin Netanyahu’s White House visit what will be restricted from entering the territory under a much-eased land blockade.
Officials said Israel would allow in virtually all …. Source article on Gaea Times at  : Israel eases Gaza blockade, but restrictions on construction materials remain in place.

President calls for better delivery of welfare schemes

HYDERABAD – President Pratibha Patil Monday called for making delivery systems more effective and non-corrupt to ensure that the benefits of welfare programmes reach all segments of society.

Inaugurating the 500th year of the coronation of Vijayanagara ruler Sri Krishnadevaraya here, she said modern day rulers and policymakers could draw many lessons from the legacy of …. Source article on Gaea Times at  : President calls for better delivery of welfare schemes.

Shutdown disrupts life in Uttar Pradesh

LUCKNOW – Bharatiya Janata Party (BJP) and Samajwadi Party activists Monday took to streets, stopped trains and clashed with police in Uttar Pradesh to enforce an all-India shutdown in the state against rising prices of food and other essential commodities.

BJP leaders including Arun Jaitley, Mukhtar Abbas Naqvi and Lalji Tandon joined hundreds of party activists … Read more : Shutdown disrupts life in Uttar Pradesh.

World stocks mixed after weak jobs report raises worries over US economic recovery

World stocks mixed on new worries over US recovery

BANGKOK – World stocks were mixed Monday in light trading, with some markets dragged down by a disappointing jobs report from the U.S. and concerns over bank lending and slackening growth in China.
Oil prices hovered above $73 a barrel in Asia as investors worried about a weak …. Original source  : World stocks mixed after weak jobs report raises worries over US economic recovery.

All India stir hot topic on twitter

NEW DELHI – The all-India strike called by opposition parties against rising fuel prices made quite an impact on the virtual world too, with ‘Bharat bandh’ being the top trend topic on Twitter, beating the American Independence Day.

On the home page of twitter, the phrase, ‘Bharat Bandh’ (India strike), was at the head of the …. Original article on Gaea Times at  : All India stir hot topic on twitter.

Near total shutdown in Madhya Pradesh

BHOPAL – Madhya Pradesh saw a near total shutdown Monday as part of a daylong strike called by opposition parties against the hike in fuel prices. Protesters clashed with the police at several places and over 200 of them were arrested.

The strike hit normal life in capital Bhopal, Jabalpur and Gwalior cities. At a …. Source article  : Near total shutdown in Madhya Pradesh.

China projects won’t affect Brahmaputra water flow: Minister

NEW DELHI – China has told India it will only carry out ‘run-of-the-river’ projects on the Brahmaputra that will not affect the flow of water, says Water Resources Minister Pawan Kumar Bansal.

“There is intimation from China that it will only carry out run-of-the-river projects, which would not affect the flow of water from the Brahmaputra …. Source article on Gaea Times at  : China projects won’t affect Brahmaputra water flow: Minister.

Oil hovers above $73 as traders eye uneven US recovery amid light holiday trading

Oil hovers near $73 amid light 4th of July trading

SINGAPORE – Oil prices hovered above $73 a barrel Monday in Asia as investors worried about a weak U.S. economic recovery amid light holiday trading volume.
Benchmark crude for August delivery was up 22 cents to $72.36 a barrel at late afternoon Singapore time in electronic trading …. Read the original article  : here.

Shutdown against rising prices complete in Kerala

THIRUVANANTHAPURAM – The nationwide shutdown called by opposition parties was total in Kerala, a Left-ruled state, with schools and colleges shut and public transportation going off the roads.

Attendance in private and government offices was minimum and all educational institutions were given a day off. Shops and markets across the state remained shut.
All university and …. Read the original article  : Shutdown against rising prices complete in Kerala.

Lloyds Banking Group sells majority stake in Bank of Scotland Integrated Finance

Lloyds Banking Group sells control of finance unit

LONDON – Lloyds Banking Group has agreed to sell a controlling stake in its Bank of Scotland Integrated Finance business.
Lloyds said monday that Coller Capital, a private equity company, is paying 332 million pounds ($504 million) for a 70 percent stake in the unit. Lloyds will remain as …. Original article on Gaea Times at  : Lloyds Banking Group sells majority stake in Bank of Scotland Integrated Finance.

Free facebook access for Airtel users for two months

NEW DELHI – Leading telecom operator Bharti Airtel has made access to online social networking site Facebook free for its over 130 million subscribers, the company said Monday.

The offer will, however, be available only for two months till Aug 31.
The Facebook site will be available in English, Hindi and five more Indian languages – … Read more »».

Near total shutdown in Jammu

JAMMU – Jammu witnessed a near total shutdown Monday following the opposition call for a nationwide stir against rising fuel prices.

The strike in Jammu was marked by rallies and processions. Shops and business establishments were closed and public transport too remained off the roads.
“It’s shocking that the UPA (United Progressive Alliance) government is oblivious … Read more : Near total shutdown in Jammu.

Strike over fuel price hike puts India on hold (Afternoon Lead)

NEW DELHI – Flights cancelled, trains disrupted, trucks and buses off the roads and shops and educational establishments closed — life was on hold in many parts of India Monday due to a daylong shutdown called by opposition parties against the hike in fuel prices.

Though the response to the shutdown varied from state to state, …. Source  : Gaea News Network.

Roads blocked, markets closed in Delhi

NEW DELHI – Huge traffic snarls, blocked roads and protests in the national capital marked the daylong shutdown called by opposition parties against the rising fuel prices.

Shutters were down in most shops in the city, with small groups of people roaming the streets to enforce the strike, especially to check the stray shopkeepers who had …. Source  : Gaea News Network.

Sterlite-Leighton to build multipurpose berth at Paradip port

BHUBANESWAR – A consortium of Sterlite Industries and Leighton Contractors will build a multi-purpose berth at Orissa’s Paradip port at an estimated cost of Rs.387.31 crore, a port official said Monday.

“The board of trustees of the Paradip Port Trust has approved issue of letter of award in favour of the consortium at a revenue … Read the original article on Gaea Times at : Sterlite-Leighton to build multipurpose berth at Paradip port.

Hundreds court arrest in Orissa

BHUBANESWAR – Hundreds of activists of non-Congress parties courted arrest in Orissa Monday during a dawn-to-dusk nationwide shutdown to protest against the fuel price hike in India.

Activists of the Communist Party of India (CPI), Biju Janta Dal (BJD) and Bharatiya Janata Party (BJP) offered themselves for arrest during separate protests here.
“The … Read : Hundreds court arrest in Orissa.

Sensex volatile, broader markets steady

MUMBAI – A key index for Indian equities Monday was trading volatile in a narrow range even as broader markets were steady, although the volume was very low as many traders were inactive because of the “Bharat Bandh” called by opposition parties against the rise in fuel prices.

The 30-scrip sensitive index (Sensex) of the …. Read the original article  : Sensex volatile, broader markets steady.

Demand for vegetables from Asia, Africa, Latin America provide opportunity for small farmers

Farmers find opportunity in immigrant vegetables

SOUTH DEERFIELD, Mass. – Maxixe, a Brazilian relative of the cucumber, is relatively unknown in the U.S., but it may one day be as common as cilantro as farmers and consumers embrace more so-called ethnic vegetables.
Agriculture experts at the University of Massachusetts at Amherst and elsewhere are teaching farmers to …. Source  : Gaea News Network.

Poor response to strike call in Punjab, Haryana

CHANDIGARH – Punjab and Haryana witnessed a lukewarm response to the nationwide strike called by opposition parties Monday against rising fuel prices.

All educational institutes, banks, hospitals, shops and transport services in the region, including Chandigarh, functioned normally.
“I thought buses will not run. But everything is normal and there is no bandh like situation,” … Original article on : Poor response to strike call in Punjab, Haryana.

World stock markets higher as China shares jump but rebound may be shortlived

World markets higher on China rebound
BANGKOK – A jump in Chinese shares led world markets higher Tuesday as investors scooped up stocks that had been pummeled to multi-month lows but some analysts doubted the rebound would last.

Weaker data from major economies over the past few weeks has diminished confidence in a strong rebound from last … Read more >>>.

BSP organises protests against price rise

LUCKNOW – Uttar Pradesh’s ruling Bahujan Samaj Party (BSP), which kept away from Monday’s all-India shutdown, staged state-wide protests Tuesday against price rise, a spokesman said.

BSP activists staged demonstrations and held public meeting all over the sprawling state but the event was peaceful and caused no disruption to others, the spokesman said.
According to BSP, …. Source  : Gaea News Network.

China objects to US sanctions against Iran, saying UN sanctions don’t need expanding

China objects to US sanctions against Iran
BEIJING – China said Tuesday that the United States and other countries should not expand on the latest U.N. sanctions imposed on Iran over its nuclear program.
China did not exercise its veto power last month when the U.N. Security Council approved sanctions that target Iran’s Revolutionary Guard, …. Source article on Gaea Times at  : China objects to US sanctions against Iran, saying UN sanctions don’t need expanding.

African Development Bank calls continent’s economic recovery ’spectacular’

African Development Bank bullish on continent

JOHANNESBURG – Africa is making a “spectacular” recovery from the global recession thanks to decades of market reform and strong trade ties with China, the chief economist for the African Development Bank said Tuesday.
Mthuli Ncube, presenting the annual economic forecast of the multilateral bank dedicated to alleviating poverty and boosting …. Original source  : African Development Bank calls continent’s economic recovery ’spectacular’.

Blockade in Delhi over water crisis

NEW DELHI – Over 250 people in east Delhi blocked roads, damaged buses and stoned policemen here Tuesday after going without water in their homes for 10 long days, police said.

The residents of Kondli said they were frustrated because repeated petitions to the authorities had had no effect. “The government officials took no action,” one …. Source  : Gaea News Network.

Oil rises to near $73 in Asia as investors eye stocks, euro gains

Oil rises to near $73 as stocks, euro gain

SINGAPORE – Oil prices rose to near $73 a barrel Tuesday in Asia, joining gains in stock markets and the euro.
Benchmark crude for August delivery was up 42 cents to $72.55 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. … Read : Oil rises to near $73 in Asia as investors eye stocks, euro gains.

India can compete with China in boilers

CHENNAI – Indian boiler manufacturers can compete with Chinese companies if China depegs its currency, yuan, from the dollar and let it move more freely within a basket of currencies, said a boiler manufacturer here.

Many private power projects in India are being executed with Chinese equipment as they are cheaper and available nearly off the … Read : India can compete with China in boilers.

Asian stock markets higher as China shares jump but rebound may be shortlived

Asian markets higher on China rebound
BANGKOK – A jump in Chinese shares led Asian markets higher Tuesday as investors scooped up stocks that had been pummeled to multi-month lows but some analysts doubted the rebound would last.

Weaker data from major economies over the past few weeks has diminished confidence in a strong rebound from last … Original article on : Asian stock markets higher as China shares jump but rebound may be shortlived.

Sensex extends gains, IT stocks shine

MUMBAI – A benchmark index for Indian equities Tuesday extended its morning gains and was up 109 points, helped by buy-ins in IT stocks and heavyweight Reliance Industries, as investors turned bullish with the revival of the monsoon.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,402.68 points, was … Read more >>>.

Railways to take another day to restore normalcy

NEW DELHI – A day after a nationwide shutdown disrupted over 265 train services, Indian Railways Tuesday said it will take another 24 hours to restore full normalcy even as many diverted trains started reaching their destinations.

“In situations like these, it takes at least a day, if not more, to restore normalcy,” a senior official …. Read the original article  : Railways to take another day to restore normalcy.

Rail link in Ethiopia contrasts proactive China with languid India

NEW DELHI – On the rooftop of Africa, the development of Ethiopia’s rail network is demonstrating the different working models of India and China – as both of them are scrambling to get lucrative contracts in the continent.

As India waited for Ethiopia to come with a specific request for help, the Chinese moved in quickly …. Read the original article  : here.

Toyota knew spring problem behind Lexus recall 2 years ago, but did not see recall as needed

Toyota knew about Lexus problem 2 years ago

TOKYO – Toyota knew two years ago about the engine problem behind its latest Lexus recall, even changing the spring part to correct it, but did not think a recall was warranted until recently, a company official said Tuesday.
Toyota Motor Corp. started Monday a global recall over engine …. Source  : Toyota knew spring problem behind Lexus recall 2 years ago, but did not see recall as needed.

Obama, Netanyahu to focus on getting Israelis, Palestinians to begin direct peace talks

Obama, Netanyahu to focus on peace talks
WASHINGTON – President Barack Obama and Israeli Prime Minister Benjamin Netanyahu headed into a White House meeting Tuesday with the same goal: trying to move the Israelis and Palestinians to resume face-to-face peace talks.
Netanyahu on Sunday endorsed the U.S. call for direct talks between the …. Original article on Gaea Times at  : Obama, Netanyahu to focus on getting Israelis, Palestinians to begin direct peace talks.

Cash-strapped post office announcing plans for rate increase, likely to top inflation rate

Post office plans to announce new rate increase

WASHINGTON – Battered by massive losses, the Postal Service wants to raise rates to bring in more money.
Postal officials scheduled a briefing Tuesday to discuss the amount of the increase, which will go to the independent Postal Regulatory Commission for review.
The boost comes as no surprise. Postmaster General …. Source  : Cash-strapped post office announcing plans for rate increase, likely to top inflation rate.

Business as usual in Mumbai after protest

MUMBAI – A day after the nationwide shutdown called by opposition parties to protest against the fuel price hike, life returned to normal in Mumbai Tuesday.

With most offices remaining shut Monday, office goers felt Tuesday was the first day of the week. “With not being able to go to work yesterday, today seems like … Read : Business as usual in Mumbai after protest.

Neyveli Lignite workers call off strike after wage accord

CHENNAI – Two major unions of the Neyveli Lignite Corporation Ltd (NLC) called off their six-day strike Tuesday after hammering out a wage agreement.

The two unions – DMK-backed NLC Workers Progressive Union (NLCWPU) and PMK affiliated Pattali Thozil Sangam (PTS) – had the majority of the 14,000 permanent workers and the support of other …. Source article on Gaea Times at  : Neyveli Lignite workers call off strike after wage accord.

Set up telecom appeal board, says Dhaka parliamentary panel

DHAKA – A committee of Bangladesh’s parliament has opposed arbitrary government powers to punish erring firms in the telecom and IT sectors and recommended the setting up of a telecom appeal board.

Responding to concerns expressed by two largely private-run sectors that have significant foreign investments, the parliamentary standing committee on post and telecommunications ministry recommended …. Original article  : Set up telecom appeal board, says Dhaka parliamentary panel.

British Airways crew vote on new offer

LONDON – British Airways (BA) cabin crew began voting Tuesday on a new offer by the airline aimed at averting fresh strikes over the management’s cost-cutting decisions.

The management made the offer last month when the crew went on a strike disrupting BA’s flight schedules leading to a 11.1 percent fall in passenger numbers.
The …. Source article  : British Airways crew vote on new offer.

EU concerned over garment sector violence in Bangladesh

DHAKA – The European Union (EU), whose member-nations are among the major importers of Bangladeshi readymade garments, has expressed “concern” at the prospects of consignment delays caused by continuing industrial violence.

A three-member delegation led by the EU Ambassador Stefan Frowein met Labour minister Khandakar Mosharraf Hossain and spoke about their concern.
They told …. Source article  : EU concerned over garment sector violence in Bangladesh.

British job market bleak for fresh graduates

LONDON – An estimated 500,000 British graduates are about to join the queue for jobs this year, but the market has become tougher with employers raising the bar for minimum education qualifications.

Most employers in Britain will not be recruiting graduates with lower than a 2:1 pass degree, equivalent to a second class honours degree with … Read more : British job market bleak for fresh graduates.

World shares down as Wall Street gains fail to lift region amid jitters about recovery

World stock markets fall despite Wall Street gains

BANGKOK – World markets retreated Wednesday, with investors losing their appetite for stocks after a disappointing U.S. services report pointed to an anemic recovery in the world’s largest economy.
Oil prices hovered below $72 a barrel as traders prepared to assess weekly crude supply data for signs of recovering … Read : World shares down as Wall Street gains fail to lift region amid jitters about recovery.

World Bank to assist livelihood project in northeast India

AGARTALA – The World Bank will provide Rs.5 billion to four north eastern states of Mizoram, Nagaland Sikkim and Tripura to create self-employment opportunities for the tribals and poor people living in rural and remote areas.

The Bank would provide the assistance for the North East Rural Livelihood Project (NERLP), starting this financial year (2010-11). … Original article on : World Bank to assist livelihood project in northeast India.

Will drought haunt Bihar farmers again?

PATNA – It’s a different year, but little has changed. Farmers in many Bihar districts are a worried lot as scanty monsoon rains have badly affected paddy sowing and triggered fears of a drought – just like last year.

Maheshwar Singh, a farmer in Aurangabad district, fears he will not be able to complete paddy sowing … Read this article on Gaea Times at : Will drought haunt Bihar farmers again?.

Oil hovers below $72 in Asia as traders eye supply data amid fears of slowing US economy

Oil hovers below $72 ahead of US crude supply data

SINGAPORE – Oil prices hovered below $72 a barrel Wednesday in Asia as traders look to weekly crude supply data for signs of recovering U.S. demand.
Benchmark crude for August delivery was down 26 cents to $71.72 a barrel at late afternoon Singapore time in electronic trading … Read more : Oil hovers below $72 in Asia as traders eye supply data amid fears of slowing US economy.

Harrowing time for residents, passengers in Haryana

AMBALA/KURUKSHETRA – Thousands of train passengers and residents of Haryana’s Ambala and Kurukshetra districts had a terrible time as incessant rains breached riverbanks triggering distressing floods.

People in the affected areas complained that civil and railway authorities had failed to provide them drinking water and food over the past 24 hours.
Nearly a dozen trains, including … Read the original article on Gaea Times at : Harrowing time for residents, passengers in Haryana.

Embattled CEO of BP Hayward arrives in Abu Dhabi to meet business partners as spill costs rise

BP’s Hayward flies to Mideast to meet ‘partners’

DUBAI, United Arab Emirates – BP’s embattled CEO is in Abu Dhabi to meet business partners amid speculation that the oil giant is looking to drum up cash to cover clean up costs from the Gulf of Mexico oil spill.
Chief Executive Tony Hayward arrived in the Emirati capital …. Source  : Embattled CEO of BP Hayward arrives in Abu Dhabi to meet business partners as spill costs rise.

China’s Agricultural Bank poised to raise more than $22 billion in world’s biggest IPO

China’s AgBank may raise $22 billion in record IPO

SHANGHAI – Agricultural Bank, the last of China’s big state owned banks to go public, is set to raise more than $22 billion from an initial public offering, defying global market weakness to stage the world’s largest IPO.
Original forecasts had put potential proceeds from the offering at …. Source article  : China’s Agricultural Bank poised to raise more than $22 billion in world’s biggest IPO.

States hope roadside signs raise awareness about drunken driving, replace homemade memorials

States honor drunken driving victims with signs

FLORISSANT, Mo. – Missouri has joined a growing number of states offering roadside signs to honor victims of drunken driving.
Experts say the signs offer a dignified and safer alternative to the homemade memorials that dot roadways nationwide.
Highway officials worry people putting up or tending homemade memorials could be hit … Read the original article on Gaea Times at : States hope roadside signs raise awareness about drunken driving, replace homemade memorials.

Peugeot Citroen posts 17 percent rise in vehicle sales in best half-year ever

Peugeot Citroen has best half-year ever for sales

PARIS – Strong demand for new cars in China helped French auto maker PSA Peugeot Citroen SA report Wednesday a record number of unit sales in the first half of the year.
In a statement, the maker of the popular Peugeot 207 and Citroen C4 Picasso said that sales … Read : Peugeot Citroen posts 17 percent rise in vehicle sales in best half-year ever.

Sensex slips further, energy, banking scrips under presssure

MUMBAI – A benchmark index for Indian equities Wednesday was ruling 106 points lower in noon trade, slipping further from its morning lows, with energy, banking and metal stocks coming under selling pressure.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,623.66 points, was ruling at 17,508.44 points, 106.14 …. Read the original article  : Sensex slips further, energy, banking scrips under presssure.

Obama to use a recess appointment to put a new director in place for Medicare and Medicaid

Obama bypassing Senate for new Medicare chief
WASHINGTON – Bypassing Republicans eager to grill an administration official over the new health care law, President Barack Obama is planning to appoint the head of Medicare and Medicaid without Senate hearings.
Obama intends to use a so-called recess appointment to put Dr. Donald Berwick in charge of …. Source article  : Obama to use a recess appointment to put a new director in place for Medicare and Medicaid.

Aid group: NKorea sent relatives of officials blamed for currency reform to prison camp

Aid group: NKorea jailed kin of currency reformers

SEOUL, South Korea – North Korea sent nearly three dozen relatives of former economic officials to a prison camp over the country’s botched currency reform, a South Korean aid group said Tuesday.
North Korea’s Ministry of State Security last month sent 34 relatives of former economic official Pak Nam …. Original article  : Aid group: NKorea sent relatives of officials blamed for currency reform to prison camp.

Himachal rivers in spate, alert sounded

SHIMLA – A high alert was sounded in Himachal Pradesh as most rivers and their tributaries began flowing above the danger mark after heavy rains, officials said Wednesday.

The alert was announced in Kullu, Mandi, Kinnaur and Shimla districts.
“Continuous heavy rains during the past three days has increased the water level in the …. Read the original article  : Himachal rivers in spate, alert sounded.

NH 1, NH 22 open for traffic

CHANDIGARH – National Highway 1, which connects Ambala with Delhi, and National Highway 22, which connects Ambala with Chandigarh and Shimla, were opened for normal traffic Wednesday morning.

Some parts of these highways were closed after incessant rainfall had led to massive waterlogging with three to four feet of water.
… Read more »».

Samsung forecasts record 2nd-quarter profit operating profit on higher sales

Samsung forecasts record 2Q operating profit

SEOUL, South Korea – Samsung Electronics Co., the world’s largest seller of flat-screen televisions, forecast Wednesday that operating profit rose to a record high in the second quarter as sales increased.
The Suwon, South Korea-based company said it expects consolidated operating profit of between 4.8 trillion won and 5.2 trillion won …. Read the original article  : Samsung forecasts record 2nd-quarter profit operating profit on higher sales.

Mass backout from Hong Kong luxury apartment deal raises suspicions

Hong Kong luxury flat deal raises questions

HONG KONG – As the rest of the world smarted from the global financial crisis, it seemed that boisterously capitalist Hong Kong had landed a blockbuster property deal.
In October, Henderson Land Development Co. signed agreements to sell 25 units at a luxury apartment building with an expansive view of … Read the original article on Gaea Times at : Mass backout from Hong Kong luxury apartment deal raises suspicions.

Volkswagen India Planning Tieups

NEW DELHI, INDIA (GaeaTimes.com)- Volkswagen, the reputed German carmaker is looking forward to strengthen its footprint in the lucrative Indian car market. It already has launched a number of cars like Jetta and Passat in India. However, in this country the majority of customers opt for the small and compact cars. That explains … Read more >>.

Himachal airports remain shut for third day

SHIMLA – Air connectivity in Himachal Pradesh remained snapped for the third consecutive day Wednesday owing to torrential rains, an official said here.

“Flights between Delhi, Shimla, Kullu and Dharamsala have been cancelled,” an official of the Kingfisher Airlines said.
The flight from Delhi arrives at 8.45 a.m. at Shimla and 8.05 am at Kullu. In … Read : Himachal airports remain shut for third day.

Trains again delayed in Chandigarh, Punjab and Haryana

CHANDIGARH – Hundreds of passengers were Wednesday stranded at railway stations in Chandigarh and in various towns in Punjab and Haryana with heavy rains leading to trains being delayed or cancelled for the second consecutive day.

“The Shatabdi train from Chandigarh is running two hours later than its normal time. Rainwater is still accumulated … Original article on : Trains again delayed in Chandigarh, Punjab and Haryana.

Hasina promises higher pay to garment sector workers

DHAKA – Bangladesh Prime Minister Sheikh Hasina has promised an early pay revision for the country’s ailing garment sector, saying the current pay scales were “too little to meet the basic needs of life”.

She asked the workers to be patient and not resort to violence. By burning and vandalising factories, she said, the workers were … Original article on : Hasina promises higher pay to garment sector workers.

Sea Shepherd: Ban on activist was a strategy to help keep him from Japanese prison

Anti-whaling group says activist ban ‘a strategy’

WELLINGTON, New Zealand – An anti-whaling group banned one of its members for carrying a weapon onboard ship as a strategy to help him avoid prison in Japan, and he’s free to rejoin its protests, the group’s leader said Thursday.
A Tokyo court on Wednesday convicted New Zealander Pete Bethune …. Original article  : Sea Shepherd: Ban on activist was a strategy to help keep him from Japanese prison.

New bonus rules for British banks, more in store

LONDON – It is payback time for British banks whose heavy risk-taking caused the country’s worst financial downturn two years ago. New rules, led by cash caps on bonuses, are coming into force to make them more responsible to the general public.

The European Union passed a rule Wednesday which will have bankers’ cash bonuses capped … Read more »»».

Indumathi Subramanian, Vodafone DMG Found Dead in Swimming Pool

MUMBAI, INDIA (GaeaTimes.com) — The Deputy General Manager (DMG) of Vodafone, Indumathi Subramanian was found dead in a swimming pool of the ITC Grand Maratha hotel here yesterday.
Indumathi Subramanian was working as DMG of Chennai division. She had come to Mumbai along with a 10-member group to attend an international company training.
What seems very …. Source  : Indumathi Subramanian, Vodafone DMG Found Dead in Swimming Pool.

US banking on India, China for faster recovery

WASHINGTON – The US has expressed confidence that it will continue to make fast recovery from the global economic crisis thanks to its ability to make goods that emerging markets like India and China need.

“If you look across the rest of the world – China, India, Brazil, Mexico – emerging markets are very strong … Read the original article on Gaea Times at : US banking on India, China for faster recovery.

IOC against frequent fuel price revision

NEW DELHI – State-run oil marketing company Indian Oil Corp (IOC) Thursday said there will not be any revision in the oil price hike if global crude oil prices do not fluctuate wildly.

“We would not like to revise prices too frequently in case crude oil does not rise too much,” said IOC chairman …. Original article on Gaea Times at  : IOC against frequent fuel price revision.

China bans vulgar ads

BEIJING – Chinese authorities have issued new guidelines to curb the use of sex and vulgarity in advertisements of online video games.

The culture ministry issued a notice Tuesday, asking officials to check the vulgar marketing of cyber games, China Daily reported Thursday.
The government had also issued a notice June 22 banning the use of … Read more : China bans vulgar ads.

Food inflation eases to 12.63 percent

NEW DELHI – India’s annual food inflation dropped to 12.63 percent for the week ended June 26 from previous week’s 12.92 per cent with the easing of prices of food items.

But fuel prices jumped 18.02 percent during the period under review.
Data released by the commerce ministry Thursday showed an over 40 percent fall …. Source article on Gaea Times at  : Food inflation eases to 12.63 percent.

German exports rise 9.2 percent on month in May; imports surge 14.8 percent

German exports see strong rise in May
BERLIN – German exports rose by a healthy 9.2 percent on the month in May as an improving global economy stoked demand, while imports surged by an even stronger 14.8 percent, official data showed Thursday.

Germany, the world’s second-biggest exporter after China, exported goods and services worth euro77.5 billion ($97.7 …. Read the original article  : German exports rise 9.2 percent on month in May; imports surge 14.8 percent.

Flights resume in Himachal

SHIMLA – After air connectivity in Himachal Pradesh remained suspended for three days due to torrential rains, flights resumed in the state Thursday after the sky cleared.

“Flights between Delhi, Shimla, Kullu and Dharamsala have resumed,” an official of Kingfisher Airlines said. Kingfisher is the only airline that operates regular flights between Delhi and Himachal …. Original source  : Flights resume in Himachal.

As painful cuts, strikes endure, Greek government battles dissent

As cuts bite, Greece battles dissent
ATHENS, Greece – The Greek government is battling growing discontent over a new round of economic austerity, with fresh strikes, public hostility, and party dissent testing the nation’s ability to make it out of its debt crisis.

Unions on Thursday staged their sixth general strike this year – halting public transport … Read more : As painful cuts, strikes endure, Greek government battles dissent.

Sensex up 251 points in noon trade, Asian cues help

MUMBAI – A benchmark index for Indian equities rebounded Thursday and was ruling 251 points higher than its previous close on expectations of strong results from India Inc and positive Asian cues.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,536.48 points, was ruling at 17,722.34 points, 251.31 points … Read more : Sensex up 251 points in noon trade, Asian cues help.

Infosys Wooing Former Employees

BANGALORE, INDIA (GaeaTimes.com)- It is quite clear that the leading technology giants of India are trying top get back their previous employees back in place. They are finding it hard to cater to the growing demand for outsourcing services with fresh recruits. Another problem bugging these companies is the high rates of attrition. …. Original source  : Infosys Wooing Former Employees.

Obama set to boost Democratic Senate candidates, talk jobs in Missouri, Nevada

Obama as campaigner in chief in Missouri, Nevada
WASHINGTON – President Barack Obama is talking to voters again about jobs and the economy. But he’s also concerned with two jobs in particular: Senate seats for Democrats in Missouri and Nevada.
With Democrats facing uphill battles in the November elections, Obama is combining a couple of …. Read the original article  : here.

Crafts bonanza at Delhi’s new terminal 3

NEW DELHI – Gourmet papad in tricolour hues, homemade pickles, heritage jewellery…India will hawk its flavours at a huge indigenous lifestyle and crafts bazaar being set up in Indira Gandhi International Airport’s swank new terminal 3 (T3).

Spread over 4,000 sq ft, the Delhi Bazaar will open its doors to the flying fraternity at July-end. It … Read this article on Gaea Times at : Crafts bonanza at Delhi’s new terminal 3.

INSIDE WASHINGTON: Congress asks for studies before reining in the financial industry

INSIDE WASHINGTON: Study often replaces crackdowns

WASHINGTON – What to do about the size of too-big-to-fail banks? Order a study. How to hold stockbrokers accountable for their dealings with clients? Another study. How to ensure the reliability of credit rating agencies? Study that, too.
Time after time as Congress wrestled with contentious decisions on how to re-regulate …. Source  : INSIDE WASHINGTON: Congress asks for studies before reining in the financial industry.

Philips puts forward former computer chip arm chief Frans van Houten as new CEO

Philips nominates former division manager as CEO

AMSTERDAM – Royal Philips Electronics NV said Thursday it intends to nominate Frans van Houten, a former head of the company’s semiconductor division, as the new chief executive officer.
If approved by shareholders, Van Houten will replace outgoing CEO Gerard Kleisterlee in April.
The 50-year-old Van Houten led Philips’ consumer electronics …. Original article  : Philips puts forward former computer chip arm chief Frans van Houten as new CEO.

Reliance Mediaworks In Expansion Mode

MUMBAI< INDIA (GaeaTimes.com)- Anil Dhirubhai Ambani Group’s Film and media wing which is known as Reliance MediaWorks is trying to expand its market share in the emerging and lucrative multiplex chain business in India. It has bought 0.5 percent extra stakes in Fame India recently. After this purchase the stake of ADAG in Fame …. Read the original article  : Reliance Mediaworks In Expansion Mode.

ECB seen leaving rates on hold again, attention likely to focus on bank stress tests

ECB meeting to focus on banks
BERLIN – The European Central Bank is set to leave its benchmark interest rate at a record low of 1 percent for the 14th straight month as it meets Thursday amid lingering concerns over the health of the continent’s banking sector.

With little prospect of rates changing soon, ECB President Jean-Claude … Read more »».

Customer-targeted rituals not always good for business: Study

WASHINGTON – Singing ‘Happy Birthday’ to customers in a restaurant might create a good impression on some, but it can leave others embarrassed, even resentful, says a new study.

“Not all customers want to be entertained. Some just want to escape and be left alone. So the bottom line here is that businesses really need to …. Original article  : Customer-targeted rituals not always good for business: Study.

Oil rises to near $75 in Asia as stock market rally, US supply drop bolster confidence

Oil rises to near $75 on global stock rally

SINGAPORE – Oil prices climbed to near $75 a barrel Thursday in Asia, extending big gains from the previous session as global stock markets rallied.
Benchmark crude for August delivery was up 73 cents to $74.80 a barrel at midday Singapore time in electronic trading on the New … Read the original article on Gaea Times at : Oil rises to near $75 in Asia as stock market rally, US supply drop bolster confidence.

480-year-old store forced to close doors in Britain

LONDON – A 480-year-old shop in Britain, which survived two world wars, two depressions and three recessions, is finally closing down its shutters.

King Henry VIII was on the throne when Gill & Co became the country’s first ironmongers in Oxford in 1530, the Daily Mail reported Friday.
The country’s oldest hardware store has been in …. Original article  : 480-year-old store forced to close doors in Britain.

Real Estate Bid By Gitanjali Group

MUMBAI, INDIA (GaeaTimes.com)- Noted diamond jewelry retailer and manufacturer Gitanjali Gems Ltd is going to make foray into lucrative real estate business. Its maiden real estate project is all set to come up at Mumbai’s western suburb, Borivali. It is going to be a residential project as per the available news. The residential project …. Source  : Gaea News Network.

Sensex up 192 points, Bharti soars

MUMBAI – A benchmark index for Indian equities Friday rose considerably for the second consecutive session and was ruling 192 points higher than its previous close with telecom major Bharti Airtel leading the pack.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,667.85 points, was ruling at 17,843.78 points, 192.05 … Original source on Gaea Times at : Sensex up 192 points, Bharti soars.

Shares in Japan’s top energy explorer plunge nearly 13 percent after $6.6 billion fund raising

Shares in Japan’s top energy explorer plunge

TOKYO – Shares in Inpex Corp., Japan’s largest energy explorer, plunged nearly 13 percent to a record low Friday after announcing it would raise 587.2 billion yen ($6.6 billion) via new shares to fund an Australian gas development.
The sheer size of Inpex’s fund raising spooked investors, dragging down the …. Read the original article  : here.

ICICIdirect Down: Customers Cry Foul

NEW DELHI, INDIA (GaeaTimes.com)- The online investment services and retailing portal of ICICI Securities, ICICIdirect gave the customers a harrowing time yesterday when it went down unexpectedly. The breakdown took thousands of users totally by surprise and they were at a loss to understand what had hit the online portal. It got back to …. Original source  : ICICIdirect Down: Customers Cry Foul.

Three Chinese firms in top 10 of Fortune 500

BEIJING – Fifty-four Chinese firms are on the Fortune Global 500 companies list by revenue, with three in the top 10, a media report said Friday.

Three Chinese companies — Sinopec, State Grid and China National Petroleum — ranked seventh, eighth and tenth respectively, the China Daily reported, citing the latest ranking issued Thursday.
China’s private …. Original article  : Three Chinese firms in top 10 of Fortune 500.

India signs MoU with Canada’s Ontario province

TORONTO – Just over a week after the prime ministers of India and Canada signed nuclear and mining agreements, India Thursday signed a memorandum of understanding (MoU) with this country’s Ontario province.

Known as the economic powerhouse of Canada, Ontario – with Toronto as its capital – is considered the country’s mining capital, boasting the world’s …. Source  : India signs MoU with Canada’s Ontario province.

Train services resume on Ambala-Delhi route

AMBALA – Train services resumed on the Ambala-New Delhi section of the railways Friday morning after the track, which had sunk at a few places due to floods, was strengthened with sand bags.

Train traffic was stopped Thursday by railway authorities after the track started sinking near Shahbad town in Haryana, 65 km from Chandigarh.
Trains …. Read the original article  : Train services resume on Ambala-Delhi route.

Oil rises to near $76 in Asia as optimism on global economy boosts equities, commodities

Oil rises to $76 amid optimism on global economy

SINGAPORE – Oil prices rose to near $76 a barrel Friday in Asia, following stock markets higher as confidence rose the global economic recovery remains intact.
Benchmark crude for August delivery was up 25 cents to $75.69 a barrel at late afternoon Singapore time in electronic trading on … Read more : Oil rises to near $76 in Asia as optimism on global economy boosts equities, commodities.

LeGone: LeBron James leaves Cleveland to chase NBA titles with superstar trio in Miami

LeBron James walks away from Cleveland for Miami

LeBron James walked away from the comforts of home to chase an NBA championship.
Perhaps the most hysterically-hyped free agent in sports history, James announced Thursday night on national TV that he plans to leave Cleveland to join the Miami Heat for a chance to play with Olympic teammates … Read more : LeGone: LeBron James leaves Cleveland to chase NBA titles with superstar trio in Miami.

Three East Asian economies reach out to Bangladesh

DHAKA – Three East Asian countries – Japan, South Korea and China – have expressed their intent to enhance relations with Bangladesh.

Prime Minister Sheikh Hasina, who visited China and South Korea, is due to visit Japan in October to further the ties.
New Japanese Prime Minister Naoto Kan has formally written to invite … Read more »».

After begging LeBron to stay, northeast Ohio fans anguished by decision to go to Miami Heat

Cleveland fans anguished by LeBron’s decision

CLEVELAND – Humiliated and heartbroken, the fans in Cleveland turned their backs on LeBron James as suddenly as he had abandoned them for the Miami Heat on national television.
They tore his once-beloved No. 23 jersey off their backs and set them on fire. They threw rocks at a 10-story-tall billboard …. Original article  : After begging LeBron to stay, northeast Ohio fans anguished by decision to go to Miami Heat.

Internet, live TV on flights a reality soon

HONG KONG – Full broadband internet access, mobile phone service and even live television may soon be a reality on flights after a leading international airline revealed plans to introduce them.

Cathay Pacific, the flag carrier of Hong Kong, has announced plans to fit its entire fleet with internet broadband service, a mobile telephone …. Source article  : Internet, live TV on flights a reality soon.

China seizes more dairy products tainted with chemical that killed 6 babies sickened thousands

China finds more milk tainted with deadly melamine

BEIJING – Chinese authorities have found dairy products in at least two provinces tainted with an industrial chemical that killed six babies and sickened thousands more in 2008, state media said Friday.
The discovery suggests toxic milk remains a lingering danger in China despite a crackdown two years ago …. Source article on Gaea Times at  : China seizes more dairy products tainted with chemical that killed 6 babies sickened thousands.

Cavaliers owner Dan Gilbert blasts LeBron James, accuses MVP of quitting in playoffs

Cavs owner says LeBron James quit in playoffs

CLEVELAND – Angered and betrayed by LeBron James’ decision to leave for Miami, Cavaliers owner Dan Gilbert accused the NBA’s MVP of quitting during the playoffs.
Gilbert, who posted a letter to Cavs fans on the team’s website shortly after James announced his plans to sign with the Heat, …. Source  : Cavaliers owner Dan Gilbert blasts LeBron James, accuses MVP of quitting in playoffs.

Money Market Operations as on July 08 , 2010

…. Original article on Gaea Times at  : Money Market Operations as on July 08 , 2010.

LeGone: LeBron James leaves Cleveland to chase titles with superstar trio in Miami

LeBron James walks away from Cleveland for Miami

LeBron James walked away from the comforts of home to chase an NBA championship.
Perhaps the most hysterically-hyped free agent in sports history, James announced Thursday night on national TV that he plans to leave Cleveland to join the Miami Heat for a chance to play with Olympic teammates …. Original source  : LeGone: LeBron James leaves Cleveland to chase titles with superstar trio in Miami.

Asian stock markets advance after jobs report lifts Wall Street, eases global slowdown worries

Asia stocks gain amid respite from slowdown fears

SINGAPORE – Asian stock markets rose Friday after South Korea’s surprise interest rate hike and a fall in U.S. unemployment benefit claims eased the worries that Europe’s debt crisis will derail the global recovery.
South Korea’s central bank raised its benchmark interest rate from a record low – following … Read more »»».

Asian stock markets climb after US jobs report lifts Wall Street

Asian shares up after US jobs report
TOKYO – Most Asian stock markets rose Friday after an encouraging U.S. jobs report helped Wall Street extend gains.

Japan’s Nikkei 225 stock average inched up 0.01 percent to 9,536.24, and South Korea’s Kospi added 0.4 percent to 1,705.12.
Benchmarks in Taiwan and New Zealand rose, while Australian shares posted mild …. Source article on Gaea Times at  : Asian stock markets climb after US jobs report lifts Wall Street.

Bank of Korea raises key interest rate to 2.25 percent from record low 2 percent

Bank of Korea raises key rate from record low

SEOUL, South Korea – South Korea’s central bank unexpectedly raised its key interest rate from a record low amid prospects for robust growth as Asia leads the global economic recovery.
The Bank of Korea announced Friday that it lifted the benchmark seven-day repurchase rate to 2.25 percent from …. Original source  : Bank of Korea raises key interest rate to 2.25 percent from record low 2 percent.

Bank executives with negative emotions take fewer risks

LONDON – Executives with negative emotions tend to take fewer risks, a study based on a survey of managing directors and general directors of Spanish banks has found.

The study had a response rate of 48.3 percent and comprised questions bearing on emotional traits and demographic characteristics of the executives, reports the British Journal of …. Source  : Gaea News Network.

Finnair reports strong Asian growth

HELSINKI – Lifted by robust demand on the India sector, Nordic carrier Finnair has reported a 26 percent growth in Asian traffic this summer.

“The demand for Asian traffic is growing noticeably. We are increasing our capacity to destinations in Asia. Next summer, we will open a new non-stop route to Singapore,” said Finnair’s president and … Read : Finnair reports strong Asian growth.

Paswan demands rollback of fuel price hike

PATNA – The central government should roll back the fuel price hike, Lok Janshakti Party (LJP) chief Ram Vilas Paswan said here Saturday during a statewide shutdown in Bihar.

The price hike should be withdrawn in “people’s interest”, he said.
The central government ended curbs on petroleum pricing and hiked the prices of diesel, kerosene and …. Source  : Gaea News Network.

Executives with higher negative emotional traits take fewer risks: Study

LONDON – A new study has revealed that executives with higher negative emotional traits take fewer risks too.

The study combined two main emotional traits, positive (such as interest or enthusiasm) emotional traits and negative (such as nervousness or irritation).

“It is worth pointing out that although it may not seem so, these two types of … Read : Executives with higher negative emotional traits take fewer risks: Study.

No dearth of resources for agriculture: Pranab

KOLKATA – There will be no dearth of resources to usher in a green revolution in India’s east and Rs.400 crore has been reserved for this, Finance Minister Pranab Mukherjee said here Saturday.

“There will be no dearth of resources as the programme moves on. We need to ensure that benefits of the scheme reach the …. Original article on Gaea Times at  : No dearth of resources for agriculture: Pranab.

BP to install tighter cap on oil well

WASHINGTON – Efforts by BP Plc to replace an existing cap on the gushing oil well in the Gulf of Mexico could begin Saturday, leading to a possible halt of the leak by as early as next week.

Coast Guard Admiral Thad Allen, who is overseeing government efforts regarding the weeks-old oil spill, said the process … Read the original article on Gaea Times at : BP to install tighter cap on oil well.

National Multi Commodity Exchange revises membership fee structure

KOCHI – The National Multi Commodity Exchange of India Ltd. (NMCE), the first online National Multi Commodity Exchange in India has recently revised its Membership fees structure, according to a release issued.

The revised membership fees structure shall be applicable from 1st August, 2010.

The fees for all the three categories viz., Trading Membership ™, Trading Cum … Original article on : National Multi Commodity Exchange revises membership fee structure.

Curfew reimposed in Kashmir towns after fresh violence

SRINAGAR – Curfew was reimposed in Maisuma locality here and Jammu and Kashmir’s Anantnag and Pulwama towns Saturday after stone-pelting mobs clashed with security forces, authorities said.

“Miscreants resorted to stone pelting in Maisuma and in Anantnag and Pulwama during curfew relaxation. Curfew was reimposed at these places,” a senior police officer said.
Markets remained closed … Read more »»».

Rainmaker Declares Availability Of ViewCentral 7.0

CAMPBELL,CALIFORNIA (GaeaTimes.com)- One of the leading e-commerce solution provider Rainmaker Systems have announced the availability of next generation View Central 7.0. Reportedly, Rainmaker Systems aims to pull in more revenue for it’s channel partners with ViewCentral 7.0.
ViewCentral 7.0 which happens to be an on demand e-commerce solution provider is said to maximize the revenue earnings … Read this article on Gaea Times at : Rainmaker Declares Availability Of ViewCentral 7.0.

Kerala planters happy with soaring rubber prices

KOTTAYAM – Planters in Kerala are a happy lot with the soaring prices of natural rubber which are hovering around an all-time high of Rs.182 a kg as demand from the automobile industry is far outstripping the supply.

K.G. Thomas, a retired state government employee, says this is a moment to cherish. “You wait and … Read more >>>.

Finnish mobile software firm to launch Bangalore operations

BANGALORE – Finland-based mobile software firm Qvantel Oy, which has Ericsson, Nokia Siemens and TeliaSonera among its clients, is setting up a centre of excellence in Bangalore to provide software product engineering services to global mobile handset manufacturers and operators, a company official said.

“As part of our growth strategy, we are expanding our operations in …. Source  : Finnish mobile software firm to launch Bangalore operations.

After Obama criticism, Nevada Senate candidate Angle to seek GOP unity against Sen. Reid

GOP candidate Angle to rally GOP against Reid
HENDERSON, Nev. – U.S. Senate candidate Sharron Angle on Friday denounced Majority Leader Harry Reid as a “desperate man” who was distorting her conservative record while ignoring a state that leads the nation in joblessness, foreclosures and bankruptcies.
A day after President Barack Obama delivered a mocking … Read the original article on Gaea Times at : After Obama criticism, Nevada Senate candidate Angle to seek GOP unity against Sen. Reid.

Japan leader tones down tax talk as candidates rush to woo voters on eve of parliamentary vote

Democrats face test on eve of Japanese election
TOKYO – His popularity dented, Japanese Prime Minister Naoto Kan toned down his tax hike talk on the eve of Sunday’s parliamentary elections that are widely considered a referendum on the Democrats’ 10 months in power.
Candidates scurried around in campaign vans, speakers blaring and aides … Read more : Japan leader tones down tax talk as candidates rush to woo voters on eve of parliamentary vote.

China’s customs agency says exports up 35 percent in June, imports up almost 53 percent

China says exports up 35 percent in June
BEIJING – China’s customs agency on Saturday said that exports were up 35 percent in June from a year ago, while imports rose almost 53 percent. The figures showed the largest monthly trade surplus so far this year, $20 million, despite the debt problems of China’s largest trading …. Source article on Gaea Times at  : China’s customs agency says exports up 35 percent in June, imports up almost 53 percent.

3-fete: It might have been Miami-Wade County, but for now, the buzz of LeBron taking over Heat

Welcome to Miami, LeBron, as Heat begin the party

MIAMI – Done deal. LeBron James and Chris Bosh are members of the Miami Heat.
The Heat completed sign-and-trade deals with Cleveland and Toronto on Friday night for their two newest superstars. The Heat sent two future first-round and two second-round picks to the Cavaliers for James, while … Read more : 3-fete: It might have been Miami-Wade County, but for now, the buzz of LeBron taking over Heat.

Curfew relaxation to continue in Kashmir Valley

SRINAGAR – Curfew will continue to be relaxed throughout the Kashmir Valley except the Sopore and Kakpora towns, Jammu and Kashmir authorities said here Saturday.

“Curfew relaxation will continue in the valley except in Sopore and Kakpora. The situation is being closely monitored,” a senior police officer said.
The curfew was relaxed Friday to allow people …. Source article on Gaea Times at  : Curfew relaxation to continue in Kashmir Valley.

Pakistan experiments with new ways to quell decades-old insurgency in Taliban’s backyard

Pakistan tries new counterinsurgency strategy

CHAMALANG, Pakistan – With every bag of coal Madad Khan dumps into trucks at this mine reopened with the army’s help, Pakistan hopes it is moving closer to quelling a 60-year-old nationalist insurgency in this restive southwest province where Afghan Taliban leaders are rumored to hide.
Echoing U.S. counterinsurgency strategy in neighboring …. Source  : Pakistan experiments with new ways to quell decades-old insurgency in Taliban’s backyard.

Large payday lending company closing all Arizona locations because of loan law’s expiration

Payday lending company leaves Ariz. after law ends

PHOENIX – Another payday lending company’s decision to leave the state shows the expiration of a law that allowed high-interest loans is working, Arizona Attorney General Terry Goddard said.
Advance America Cash Advance Centers Inc. announced plans this week to close all 47 of its locations in Arizona, along …. Read the original article  : Large payday lending company closing all Arizona locations because of loan law’s expiration.

Seattle sends All-Star lefty Cliff Lee to Texas Rangers for Justin Smoak, 3 prospects

Mariners trade ace Cliff Lee to Texas Rangers

ARLINGTON, Texas – Cliff Lee is suddenly in the starting rotation for the AL West-leading Texas Rangers, who pulled off a big deal despite bankruptcy proceedings and unsettled ownership.
The Seattle Mariners sent the ace left-hander and reliever Mark Lowe to the Rangers on Friday for rookie first baseman … Read more »».

Recalls: Champion Nutrition Chocolate Peanut Butter Pure Whey Protein, sliced apples

Recalls: Chocolate peanut butter, sliced apples

The following recall has been announced:
- Champion Nutrition is recalling 5-pound containers of Champion Nutrition Chocolate Peanut Butter Pure Whey Protein because peanuts aren’t adequately declared as an ingredient on the product’s label. Those who have allergies to peanuts run the risk of serious or life-threatening allergic reactions if they … Original source on Gaea Times at : Recalls: Champion Nutrition Chocolate Peanut Butter Pure Whey Protein, sliced apples.

Nepal asks India to lift 1,000-rupee note ban

KATHMANDU – Less than a fortnight after an Indian minister was detained in Nepal for carrying banned Indian currency notes, Nepal has reiterated its call to India’s banking transaction regulator to lift the prohibition.

Yubaraj Khatiwada, governor of Nepal Rastra Bank (NRB), the republic’s apex bank, has asked Reserve Bank of India (RBI) Governor D. Subbarao …. Source  : Nepal asks India to lift 1,000-rupee note ban.

Nasdaq Dubai shares start trading on Dubai Financial Market in effort to boost business

Dubai’s 2 stock exchanges start to act as 1

DUBAI, United Arab Emirates – Dubai’s two stock markets are moving closer together by linking their trading platforms in a bid to boost the number of shares changing hands.
Shares listed on the Nasdaq Dubai stock exchange began trading on the more active Dubai Financial Market at the …. Original source  : Nasdaq Dubai shares start trading on Dubai Financial Market in effort to boost business.

Now Bihar has roads to drive development

PATNA – Octogenarian farmer Madhav Singh is a happy man these days. Though his village Alawalpur is only 12 km away from Bihar’s capital, it used to take him over two hours of travel each way for his weekly shopping and farm chores. Not any longer.

The state’s motto, “aap ki sarkar, aap ke dwaar” (your … Original source on Gaea Times at : Now Bihar has roads to drive development.

Patna to have its own Marine Drive (With Bihar roads story)

PATNA – The Nitish Kumar government in Bihar has given its go ahead to a Rs 2,100 crore driveway project that will recreate Mumbai’s Marine Drive along the river Ganga and will serve as an arterial road for the city.

The project will be dovetailed with the state’s plan for at least two large bridges on …. Original article on Gaea Times at  : Patna to have its own Marine Drive (With Bihar roads story).

Left deliberately misleading on fuel pricing: Ahluwalia

NEW DELHI – Planning Commission Deputy Chairman Montek Singh Ahluwalia has charged Left parties with deliberately misleading the public on pricing of petroleum fuels and said there was no alternative but to hike prices.

Ahluwalia also rubbished the theory that since oil retailing companies were making profits there was no reason to hike fuel prices, arguing …. Read the original article  : Left deliberately misleading on fuel pricing: Ahluwalia.

China’s foreign exchange reserves rise to $2.45 trillion in 2Q, 15.1 percent increase on year

China’s foreign reserves rise to $2.45 trillion

BEIJING – China’s foreign reserves reached $2.45 trillion dollars by the end of June, a 15.1 percent increase year on year, the central bank said Sunday.
However, its reserves increased by only $7.2 billion in the second quarter, a sharp drop from the first quarter when it grew by $126.5 … Read this article on Gaea Times at : China’s foreign exchange reserves rise to $2.45 trillion in 2Q, 15.1 percent increase on year.

Bangladesh baby boom bigger than earlier estimates

DHAKA – Bangladesh’s family planning programme has shown a declining trend and its population may touch 185 million by 2020, higher than the earlier projection of 178 million, making their sustenance difficult, a senior official has said.

The country’s family planning programme, which had earned kudos from international agencies some years ago, has shown a …. Read the original article  : here.

Former tea garden owners are Tripura’s new entrepreneurs

KAMALPUR – A tea garden worker until seven years ago, 48-year-old Matang Tanglua is today among over 5,500 entrepreneurs who own small tea estates of their own, making meaningful contributions to the state that is emerging as a significant exporter of the commodity.

More than four decades ago, Tanglua’s poverty-stricken family had come to Tripura … Read more »».

Tourism eating into Goa’s fish?

PANAJI – Goans and hundreds of thousands of tourists visiting the state annually may soon have to pay a premium to sink their teeth into a fried mackerel or slurp their way through thick prawn curry. Mackerels, sardines and prawns could well be the first in the line of casualties of a fish famine …. Original source  : Tourism eating into Goa’s fish?.

Bangladeshi batteries seek global market

DHAKA – A Bangladeshi car battery maker is targeting export of a million pieces to Australia and Europe by next summer after covering markets across South Asia, including India, and Africa.

Rahimafrooz Globatt Ltd exported 175,000 pieces of car batteries worth $5.5 million during October-June period last fiscal.
India and other South Asian countries … Original source on Gaea Times at : Bangladeshi batteries seek global market.

Car plant a rare win for poor Indian farmers as battles rage with industry over land use

Land wars bedevil India’s rush to industrialize
SANAND, India – It doesn’t look like he’s won much from industrialization. Take his face, weathered beyond his 30 years, or the earth stuck to his bare ungainly feet.
Jaisar Khan Pathan, one in a long line of farmers, is simply too scrawny.
But Pathan, and scores like him …. Original article on Gaea Times at  : Car plant a rare win for poor Indian farmers as battles rage with industry over land use.

Brazil: Air France jet makes emergency landing after bomb threat; all aboard safe

Brazil: Air France jet lands after bomb threat

RIO DE JANEIRO – An Air France passenger jet headed from Rio to Paris made an emergency landing in northeastern Brazil Saturday night due to a bomb threat.
All 405 passengers and 18 crew members were safely evacuated from Air France Flight 443, said Jorge Andrade, a spokesman for [..] Read the original article: here.

Japan votes in parliamentary election seen as test for Democrats’ young rule

Japan votes in election seen as test for Democrats
TOKYO – Japan voted in a parliamentary election Sunday as the ruling Democrats highlighted reforms and cuts in wasteful spending during their 10-month rule – while apologizing for creating “confusion and mistrust” over tax-hike talk and a dispute involving a U.S. base.
The main opposition …. Original source  : Japan votes in parliamentary election seen as test for Democrats’ young rule.

Montana advocacy group shuts down its traveling medical marijuana caravans amid criticism

Mont. advocacy group shuts down cannabis caravans

HELENA, Mont. – A Montana advocacy group is shutting down its traveling medical marijuana clinics amid criticism that the so-called cannabis caravans have added thousands of people to the state registry without conducting thorough patient screenings.
The Montana Caregviers Network has hosted the one-day clinics in hotels and conference centers … Read more : Montana advocacy group shuts down its traveling medical marijuana caravans amid criticism.

Gaza aid ship leaves Greece for Egypt, Greek foreign ministry says

Gaza aid ship leaves Greece for Egypt
ATHENS, Greece – A ship commissioned by a Libyan charity organization has left Greece headed for the Egyptian port of al-Arish, and not for Gaza, as originally planned, according to Greek authorities.

The Moldovan-flagged cargo ship Amalthea left around 8 p.m. local (1700 GMT) Saturday from the port of Lavrio, …. Source article  : Gaza aid ship leaves Greece for Egypt, Greek foreign ministry says.

Governors seeking to spur economic recovery press Obama administration for more assistance

Struggling states seeking more aid from Washington

BOSTON – Governors hamstrung by the sluggish economic rebound in their states and bound to balance their own budgets are pressing anew for Washington to step up with more help, some say even if it means adding to the nation’s red ink.
Republicans and Democrats alike wrestled with how to … Read : Governors seeking to spur economic recovery press Obama administration for more assistance.

Mega Millions Winning Numbers

San Francisco (GaeaTimes.com) The Mega Millions winning numbers for July 9, 2010 are 1, 31, 33, 34, 50 and the Mega Ball is 41, and Megaplier is 4, as reported. The Mega Millions website seems to be down or very slow due to huge number of people checking their numbers on their website. There … Read more >>.

Sign of the times: 10-story-tall mural of LeBron James being taken down in Cleveland

LeBron’s mural coming down in Cleveland
CLEVELAND – LeBron James is being dropped off a building.

And his jerseys, at least the ones not on fire, are almost being given away.
Workers began dismantling the 10-story-tall iconic image of James on a mural in downtown Cleveland on Saturday. The billboard has dominated the city’s skyline for years but … Original article on : Sign of the times: 10-story-tall mural of LeBron James being taken down in Cleveland.

Big changes ahead for financial world from government crackdown more than a year in the making

New rules, big changes coming for financial world
WASHINGTON – Big changes are in store for the financial world from a government crackdown more than a year in the making.
Democratic leaders in the Senate are trying to secure the final votes needed to pass legislation this coming week that …. Original source  : Big changes ahead for financial world from government crackdown more than a year in the making.

Haryana to seek Rs. 1,022.94 crore aid for flood losses

CHANDIGARH – On the basis of a preliminary assessment of losses incurred in the flood-affected districts, Haryana has sought financial assistance of Rs.1,022.94 crore from the central government, officials said Saturday.

“We are going to submit a memorandum to the government of India seeking an approximate assistance of Rs.1,022.94 crore for the flood affected districts. This …. Read the original article  : Haryana to seek Rs. 1,022.94 crore aid for flood losses.

World stock markets mostly rise as China trade, South Korea growth upgrade lift sentiment

World stocks lifted by China trade, Wall Street

BANGKOK – World stock markets mostly rose Monday, lifted by robust Chinese trade figures that eased worries the global recovery is losing momentum.
Gains last week on Wall Street added to the momentum from China’s stronger-than-expected trade figures. Also boosting markets was South Korea’s central bank raising its growth … Original article on : World stock markets mostly rise as China trade, South Korea growth upgrade lift sentiment.

BP says cost of dealing with Gulf of Mexico oil spill reaches $3.5 billion

BP says oil spill costs climb to $3.5 billion

LONDON – BP PLC said Monday that the cost of dealing with the oil spill in the Gulf of Mexico has risen to $3.5 billion, though its shares rallied on reports it may sell some assets.
The oil company said the overall cost includes nearly $165 million paid …. Read the original article  : BP says cost of dealing with Gulf of Mexico oil spill reaches $3.5 billion.

Oil falls to near $75 in Asia as traders look to US company earnings for clues on economy

Oil falls to near $75 ahead of US company earnings

SINGAPORE – Oil prices fell to near $75 a barrel Monday in Asia as investors looked to the start of second quarter company earnings reports this week for clues about the strength of the U.S. economy.
Benchmark crude for August delivery was down 76 cents to $75.33 …. Original article  : Oil falls to near $75 in Asia as traders look to US company earnings for clues on economy.

Money Market Operations as on July 10, 2010

… Read : Money Market Operations as on July 10, 2010.

Sensex slips on modest industrial data after crossing 18,000

MUMBAI – A benchmark index for Indian equities markets, which breached the psychological 18,000 mark in more than three months early Monday, slipped in noon trade after the government released the industrial production data, showing a slower 11.5 percent growth in May compared to a 14.6 percent rise in April.

Other Asian markets too were in …. Source  : Gaea News Network.

Asian stock markets mostly rise as China trade, South Korea growth upgrade lift sentiment

Asian stocks lifted by China trade, Wall Street

BANGKOK – Most Asian stock markets rose Monday, lifted by robust Chinese trade figures that eased worries the global recovery is losing momentum.
In Japan, a weaker yen wasn’t able to completely offset concerns about the country’s economy after the ruling party’s defeat in upper house elections Sunday.
The Nikkei … Read this article on Gaea Times at : Asian stock markets mostly rise as China trade, South Korea growth upgrade lift sentiment.

US government not for new stimulus for economy

WASHINGTON – With the US budget deficit for the fiscal year ending September already topping $1 trillion, the Obama administration sees little room for stimulus to boost the staggering economy.

There’s “not a great desire” for additional government spending, President Barack Obama’s top political adviser David Axelrod said Sunday.
“Even though there’s some argument for additional …. Read the original article  : here.

Advances in finding Alzheimer’s disease show the need for drugs to stop or slow its course

Alzheimer’s advances show need for better drugs

Scientists are reporting advances in detecting and predicting Alzheimer’s disease at a conference in Honolulu this week, plus more proof that getting enough exercise and vitamin D may lower your risk.
There are better brain scans to spot Alzheimer’s disease. More genes that affect risk. Blood and spinal fluid tests …. Source  : Gaea News Network.

India’s factory output up 11.5 percent in May

NEW DELHI – India’s factory output was up 11.5 percent in May, powered by a 12.3 percent expansion registered by the manufacturing sector, giving the central bank the much-needed comfort level to look at hiking key rates upward to tame inflation.

Data on the country’s index for industrial production (IIP) released here Monday by the commerce … Read more »».

Big election losses could hinder Japan ruling party attempts to tackle debt, revive economy

Japan braces for gridlock after ruling party loss
TOKYO – Japan’s ruling party faced the prospect of political gridlock Monday as bad losses in weekend parliamentary elections undermine its attempts to reduce the second-largest economy’s ballooning budget deficit and revive growth.
Half of the 242 seats in the upper house of parliament were up for … Original source on Gaea Times at : Big election losses could hinder Japan ruling party attempts to tackle debt, revive economy.

Firearm sales up 70 percent in Brazil

Sao Paulo, July 12 (IANS/EFE) The sale of firearms in Brazil has increased by 70 percent since 2005, authorities said.

Brazilians approved the sale of firearms in the country in a referendum in 2005. About 59 million of the 92 million people who participated in the vote supported the sales.
In 2005, 68,000 firearms were sold … Read this article on Gaea Times at : Firearm sales up 70 percent in Brazil.

1 in 4 American consumers are deemed risky as more credit scores sink to lows of 599 or less

More Americans’ credit scores sink to new lows

NEW YORK – The credit scores of millions more Americans are sinking to new lows.
Figures provided by FICO Inc. show that 25.5 percent of consumers – nearly 43.4 million people – now have a credit score of 599 or below, marking them as poor risks for lenders. It’s …. Source  : Gaea News Network.

FDA to evaluate obesity drug that would be the first new prescription treatment in a decade

FDA to review first of 3 new weight loss drugs

WASHINGTON – Dieters, doctors and investors get their first extensive look at the first of a trio of new weight loss drugs this week. The hope is that the new drugs can succeed where many others have failed: delivering significant weight loss without risky side effects.
With … Read more »»».

Oil hovers above $76 in Asia as traders look to US company earnings for clues on economy

Oil hovers above $76 ahead of US company earnings

SINGAPORE – Oil prices hovered near $76 a barrel Monday in Asia as investors look to second quarter company earnings reports this week for clues about the strength of the U.S. economy.
Benchmark crude for August delivery was up 7 cents to $76.16 a barrel at midday Singapore … Read more »».

Mavericks owner Mark Cuban says NBA should look into how Big 3 ended up with Miami Heat

Cuban: NBA should examine how Heat got Big 3

LAS VEGAS – Dallas Mavericks owner Mark Cuban says the NBA should examine how free agents LeBron James, Chris Bosh and Dwyane Wade all ended up with the Miami Heat.
Cuban tells a group of reporters at the NBA’s summer league in Las Vegas that he intends to …. Source  : Mavericks owner Mark Cuban says NBA should look into how Big 3 ended up with Miami Heat.

Asian shares rise on Wall Street gains, China trade, weaker yen

Asian stocks lifted by Wall Street, China trade

TOKYO – Asian stock markets rose Monday, lifted by robust Chinese trade figures that eased worries the global recovery is losing momentum.
In Japan, a weaker yen offset concerns about the country’s economy after the ruling party’s defeat in upper house elections Sunday.
The Nikkei 225 stock average reversed early …. Source  : Gaea News Network.

Money Market Operations as on July 09 , 2010

…. Original article  : Money Market Operations as on July 09 , 2010.

Bank of Korea raises country’s 2010 growth forecast to 5.9 percent as global economy recovers

Bank of Korea raises growth forecast to 5.9 pct

SEOUL, South Korea – South Korea’s central bank raised its forecast for the country’s economic growth this year to 5.9 percent on solid exports as well as capital and consumer spending amid a stronger global recovery.
The Bank of Korea, which had previously expected an expansion of 5.2 … Read more : Bank of Korea raises country’s 2010 growth forecast to 5.9 percent as global economy recovers.

Asian shares rise; Nikkei shows muted respose to Japan’s election results

Asian stocks up; US shares, exporters lift Nikkei

TOKYO – Asian stock markets posted modest gains Monday as Wall Street’s gains last week and a weaker yen lifted exporters in Japan, eclipsing concerns about the ruling party’s defeat in upper house elections.
The benchmark Nikkei 225 stock average reversed early losses and was up 0.1 percent at …. Read the original article  : Asian shares rise; Nikkei shows muted respose to Japan’s election results.

Alcan says union vote prompts orderly shutdown of Ravenswood aluminum plant

Alcan: orderly shutdown of Ravenswood plant starts

RAVENSWOOD, W.Va. – Alcan Rolled Products says it’s begun closing its Ravenswood, West Virginia, plant in response to a strike notice from union workers.
Alcan announced what it called an orderly shutdown Sunday. The Rio Tinto subsidiary says it won’t operate the plant without workers from United Steelworkers Local 5668.
Members …. Read the original article  : Alcan says union vote prompts orderly shutdown of Ravenswood aluminum plant.

Kerala plans heritage village for diaspora

THIRUVANANTHAPURAM – Kerala Chief Minister V.S. Achuthanandan Tuesday said the state industrial development corporation is undertaking a feasibility study for the proposed Rs.750-crore heritage village for the diaspora.

“We have already identified 337 acres in the outskirts of the capital city near Chiryankil. The district collector has been asked to find out the modus operandi of … Read this article on Gaea Times at : Kerala plans heritage village for diaspora.

EU finance ministers under pressure to agree new financial oversight agencies

EU finance ministers pressed to fix oversight

BRUSSELS – European Union finance ministers are under pressure at Monday talks to fix a compromise with EU lawmakers over new financial oversight agencies due to be set up at the end of the year.
Austrian Finance Minister Josef Proell told reporters “the decision time has come” despite some nations’ … Read more »».

Road flooding due to construction debris: Dikshit

NEW DELHI – Under attack for the flooding of city streets after heavy spells of rain, Delhi Chief Minister Sheila Dikshit Tuesday acknowledged that it was due to debris from Commonwealth Games-related construction work and directed that it be cleared up by Aug 10.

A day after torrential rains claimed the lives of 11 people in … Original source on Gaea Times at : Road flooding due to construction debris: Dikshit.

Asian stocks lower as Chinese shares fall amid signs of cooling property market; Europe gains

Asian markets lower as China falls; Europe gains

TOKYO – Asian markets were mostly lower Tuesday as a tumble in Chinese stocks tempered optimism from U.S. aluminum maker Alcoa’s earnings. European shares advanced.
A slew of American companies release quarterly results in the coming weeks and Alcoa’s result spurred hopes that earnings season will provide reassuring signs … Read : Asian stocks lower as Chinese shares fall amid signs of cooling property market; Europe gains.

Haryana looks for paddy nurseries in flood aftermath

CHANDIGARH – Following the substantial damage to agricultural land and freshly planted paddy crop in the Haryana floods, the state government is now looking for nurseries that have readily available saplings of paddy.

Tens of thousands of paddy saplings will be required by the state’s agriculture department and farmers to re-transplant the paddy crop …. Original article on Gaea Times at  : Haryana looks for paddy nurseries in flood aftermath.

SS Netcom to set up first global call centre in North East

SHILLONG – SS Netcom, the first IT solution company in India’s North Eastern region, is setting up an international call centre in Meghalaya.

“The client (an international IT company) is ready and we are in the process of streamlining the system,” SS Netcom Founder Conrad Sangma told IANS.
Sangma, a Wharton alumni, is also the youngest … Original article on : SS Netcom to set up first global call centre in North East.

Chemistry professor hopes to strike gold from banana plant

KOTTAYAM – Varkey Mathew, a retired chemistry professor here, claims to have developed an eco-friendly helmet and other utility items like water and oil filters from banana stems and leaves.

Mathew, who retired last year from a private college, has converted his home into a laboratory where he along with his two engineer friends carried out …. Source article  : Chemistry professor hopes to strike gold from banana plant.

Extra storage capacity needed to ensure food security: Pawar

NEW DELHI – Agriculture Minister Sharad Pawar Tuesday said India needs to create 140 million tonnes of extra storage capacity and it is one of the major challenges before the government, which has pledged to enact a food security law.

Inaugurating the state food secretaries’ meet on streamlining the public distribution system (PDS) here, he said … Original source on Gaea Times at : Extra storage capacity needed to ensure food security: Pawar.

Coming up in Chhattisgarh: India’s 21st century city

RAIPUR – In the news more for its chronic insurgeny and tribal poverty, Chhattisgarh will soon boast of one of India’s most advanced, eco-friendly modern cities that will be the new capital of the mineral-rich state.

Located about 20 km east of the present capital Raipur, Naya Raipur has been designed on the lines of Malaysia’s …. Source article  : Coming up in Chhattisgarh: India’s 21st century city.

Maharashtra transporters track situation after attack on buses

MUMBAI – Private bus and truck operators in Maharashtra have adopted a wait and watch policy before deciding whether to continue plying in the Maharashtra-Karnataka sectors after four buses were attacked in Pune, Thane and Satara districts Tuesday.

The buses, pelted with stones and burnt in the Maharashtra districts, were owned by the Karnataka government. Three …. Source article on Gaea Times at  : Maharashtra transporters track situation after attack on buses.

Infosys Witness First Quarter Decline

BANGALORE, INDIA (GaeaTimes.com)- Infosys Technologies Ltd witnessed a sharp decline of 2.4 percent in it’s first quarter net profit. Reportedly, the first quarter profit reports of Infosys is a sharp hit on software services owing to the increasing demand for outsourcing.
Infosys has already gone ahead to consolidate a three months net profit INR 14.88 billion …. Original source  : Infosys Witness First Quarter Decline.

Infosys attrition climbs to 16 percent in first quarter

BANGALORE – The attrition rate in India’s second largest IT bellwether Infosys Technologies shot up to a whopping 16 percent during the first quarter (April-June) of this fiscal (2010-11), the company said Tuesday.

“With the market opening up, attrition has increased this quarter. We have taken several steps, including a compensation hike to reduce it,” Board … Read : Infosys attrition climbs to 16 percent in first quarter.

Infosys ups revenue forecast on greater demand for services

BANGALORE – Buoyed by higher than projected growth in the first quarter, Infosys Technologies Ltd revised its revenue forecast for this fiscal upwards on greater demand for its software services from its marquee clients.

“While the global economic environment remains uncertain, we continue to see greater demand for services from our clients,” Infosys chief executive S. … Read more >>>.

BlackBerry faces stormy AGM as Apple, Google mount pressure

TORONTO – With Apple’s iPhone and Google’s Android-driven devices fast cutting into its supremacy in the global smartphone market, BlackBerry maker Research In Motion (RIM) faces a stormy annual meeting Tuesday.

Based at Waterloo near here, the RIM’s BlackBerry still holds about 41 percent share of the smartphone platform, followed by Apple’s iPhone 24.4 percent …. Original article on Gaea Times at  : BlackBerry faces stormy AGM as Apple, Google mount pressure.

Hotel workers’ union protests contract dispute with Disneyland

Hotel workers’ union protests at Disneyland

ANAHEIM, Calif. – Mickey Mouse mask-wearing protesters were among about 325 union members and supporters who demonstrated against Disneyland over a hotel employee contract dispute.
Protesters on Monday wore masks colored with a black eye to represent the union’s message that Disney is the black eye of Anaheim, where the amusement …. Original source  : Hotel workers’ union protests contract dispute with Disneyland.

Toyota to study quality control assessment by expert panel after massive recalls

Toyota to study quality panel’s recommendations

TOKYO – Toyota will start studying an assessment of the company’s quality control conducted by four outside experts to help beef up quality controls at the recall-battered automaker under a program that began in March to review defect measures.
Toyota Motor Corp. said Monday it was tackling a number of improvements, [..] Read the original article: here.

Nissan takes lead in producing Japan car abroad, where labor costs are cheaper

Nissan takes lead with Thai-made March in Japan

YOKOHAMA, Japan – Nissan took the wraps off its new March subcompact Tuesday, which is being manufactured in Thailand for sale in Japan, underlining a trend for Japanese automakers to shift more production abroad.
Nissan Motor Co. said it was setting up a special inspection facility at its Oppama … Read the original article on Gaea Times at : Nissan takes lead in producing Japan car abroad, where labor costs are cheaper.

Infosys ups revenue guidance for this fiscal

BANGALORE – Infosys Technologies Ltd revised its consolidated revenue guidance for this fiscal upwards to Rs.26,663 crore (Rs.267 billion), projecting 17.3 percent year-on-year (YoY) growth, as per the Indian accounting standard.

The guidance has been revised from Rs.25,017 crore or 10 percent YoY projected at the beginning of this fiscal in April.
In a regulatory filing … Read more >>.

Oil drops below $75 as investors eye 2Q corporate earnings reports, economy

Oil extends losses, drops below $75
SINGAPORE – Oil prices fell below $75 a barrel Tuesday in Asia as investors looked for fresh signs of a growing U.S. economy from second quarter corporate earnings reports.

Benchmark crude for August delivery was down 37 cents to $74.58 a barrel at late afternoon Singapore time in electronic trading on … Read more : Oil drops below $75 as investors eye 2Q corporate earnings reports, economy.

Infosys net down 2.4 percent in first quarter

BANGALORE – Infosys Technologies Ltd registered a net profit of Rs.1,488 crore (Rs.14.88 billion) for the first quarter (April-June) of this fiscal, a decline of 2.4 percent from same quarter of last fiscal at Rs.1,525 crore as per the Indian accounting standard.

In a regulatory filing Tuesday, the IT bellwether said its consolidated income, however, grew …. Original article  : Infosys net down 2.4 percent in first quarter.

World stock markets jump after Intel, Singapore beat expectations

World stock markets jump after Intel result

BANGKOK – World stock markets advanced Wednesday, powered by better-than-expected earnings from chipmaking giant Intel that eased fears of a stalled global recovery.
Technology stocks in Asia got a big boost from Intel’s after-hours report of quarterly earnings and revenue that beat expectations. Markets also advanced after export-reliant Singapore raised [..] Read the original article: here.

Sensex rises after a lull, strong Asian cues help

MUMBAI – A benchmark index for Indian equities Wednesday
crawled up about 80 points in afternoon trade on strong cues from other Asian markets.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE),
had risen to 18,167.22 points in morning trade but slipped a tad in subsequent sessions, with heavyweight Infosys dragging …. Source  : Gaea News Network.

Bus services on Manali-Leh route resume

MANALI – The bus services between Himachal Pradesh’s Manali town and Leh in Jammu and Kashmir have resumed, six months after they were halted due to heavy snowfall, an official said Wednesday.

The Himachal Pradesh Tourism Development Corporation (HPTDC) started running special buses on the 475-km route Tuesday to promote tourism in the state. The strategic … Original source on Gaea Times at : Bus services on Manali-Leh route resume.

517-seater Emirates super jumbo to land in Delhi

DUBAI – Twenty-five years after it first flew to Delhi, Emirates will make history when its 517-seater Airbus A-380 super jumbo lands at the Indira Gandhi International Airport Thursday to become the first international airline to dock at the brand new Terminal 3.

The Terminal 3, inaugurated earlier this month by Indian Prime Minister Manmohan …. Read the original article  : 517-seater Emirates super jumbo to land in Delhi.

Oil hovers above $77 in Asia after report shows unexpected US crude inventory increase

Oil hovers above $77 as US crude supplies rise

SINGAPORE – Oil prices hovered above $77 a barrel Wednesday in Asia after a report showed U.S. crude supplies rose unexpectedly last week, suggesting demand remains lackluster.
Benchmark crude for August delivery was up 9 cents to $77.24 a barrel at late afternoon Singapore time in electronic trading … Read the original article on Gaea Times at : Oil hovers above $77 in Asia after report shows unexpected US crude inventory increase.

NATO: 3 American troops die in attack on police headquarters in Afghanistan’s Kandahar

3 US troops die in attack on Kandahar police HQ

KANDAHAR, Afghanistan – A car bomb and gunfight at the entrance of a police headquarters killed three U.S. troops and five civilians in the southern Afghan city of Kandahar, officials said Wednesday.
An Afghan police officer also died in the attack on the compound of the elite …. Source  : NATO: 3 American troops die in attack on police headquarters in Afghanistan’s Kandahar.

George Steinbrenner leaves legacy as the owner who changed how baseball does business

Steinbrenner’s legacy more than feuds and bluster

Owning the New York Yankees, George Steinbrenner liked to say, was a lot like owning the Mona Lisa.
Not that he always treated his team like a piece of fine art. Some of the things “The Boss” did would have wiped the smile right off the famous model’s face.
This was …. Source  : George Steinbrenner leaves legacy as the owner who changed how baseball does business.

For New York Yankees, little figures to change following George Steinbrenner’s death

Little figures to change following Steinbrenner

NEW YORK – The owners’ box behind home plate will be empty most nights. Then again, it has been vacant most games for several years.
Little figures to change in the operation of the New York Yankees following George Steinbrenner’s death Tuesday at age 80. His role for several years had …. Source article on Gaea Times at  : For New York Yankees, little figures to change following George Steinbrenner’s death.

Western ranchers in some remote areas replace iconic windmills with solar-powered water pumps

Solar wells displacing windmills on Western range

ALCOVA, Wyo. – The pump installer toppled the old windmill in about an hour, first climbing up the wobbly 27-foot tower to stop the broken mill’s whirling blade and then pulling the underground pipe to make way for a new solar-powered electric pump.
Iconic mechanical windmills of metal and wood …. Original source  : Western ranchers in some remote areas replace iconic windmills with solar-powered water pumps.

Turkey sees its influence rising in construction projects as well as diplomatic affairs

Turkey becomes global power in construction

ANKARA, Turkey – An army of Turkish cranes and bulldozers is at work across the Middle East, Central Asia and Africa, building dams, stadiums and highways in a boom that’s driving Turkey to record growth and bolstering its efforts to become a regional power broker.
Frustrated by slow progress toward joining …. Source  : Turkey sees its influence rising in construction projects as well as diplomatic affairs.

India’s June inflation rises to 10.55 percent

NEW DELHI – The recent fuel price hike drove India’s annual food inflation further up to 10.55 percent, from 10.16 percent in May, edging the Reserve bank of India closer to another hike in interest rates.

During June, prices of fuel rose 14.32 percent, reflecting the government’s decision to increase prices of petrol, diesel, kerosene and … Original article on : India’s June inflation rises to 10.55 percent.

Britain’s national debt reaches four trillion pounds

LONDON – Britain’s national debt stands close to a staggering four trillion pounds, nearly four times higher than officially estimated, the Office of National Statistics (ONS) has said.

The total debt means a per capita debt of around 65,000 pounds for each of the 62 million people in the country.
This is in sharp contrast to … Read this article on Gaea Times at : Britain’s national debt reaches four trillion pounds.

BlackBerry bosses mum on new launches

TORONTO – On a day when its rival Apple slipped more than four percent on the market after a poor review of iPhone 4, BlackBerry maker Research In Motion (RIM) made no new bold announcements at its annual shareholders’ meeting Tuesday.

In the meeting which took place in the backdrop of Apple’s woes after Consumer Reports …. Read the original article  : BlackBerry bosses mum on new launches.

Hilly Sikkim, sandy Goa to sell tourism together

PANAJI – The hills of Sikkim can now sunbathe in Goa! To tap tourism synergies and boost business, the Goa Tourism Development Corporation (GTDC) and its Sikkim counterpart have signed an agreement to promote each other’s diverse tourism platters.

GTDC Managing Director Nikhil Desai said the arrangement would mutually benefit both states and that similar …. Source  : Hilly Sikkim, sandy Goa to sell tourism together.

Oil falls below $77 in Asia after unexpected US crude inventory increase

Oil falls below $77 as US crude supplies rise

SINGAPORE – Oil prices fell below $77 a barrel Wednesday in Asia after a report showed U.S. crude supplies rose unexpectedly last week.
Benchmark crude for August delivery was down 26 cents to $76.89 a barrel at midday Singapore time in electronic trading on the New York Mercantile … Read more : Oil falls below $77 in Asia after unexpected US crude inventory increase.

Yamaha offers electric scooters for green but short errands for $2,700

Yamaha offers electric scooters for green errands

TOKYO – Yamaha is targeting fashionable green-minded consumers with a new electric scooter designed for short city commutes.
The 240,000 yen ($2,700) “smart minimal commuter” EC-03, shown to reporters Wednesday, is zero-emission and super-quiet, making it convenient for late-night city driving, according to Japanese motorcycle maker Yamaha Motor Co.
Its maximum … Read more »»».

Search unsuccessful so far for 3 men missing in Arizona while looking for fabled gold mine

No sign of 3 Utah men on Arizona treasure hunt

PHOENIX – Rescue workers unsuccessfully searched a rugged Arizona wilderness area for a third day in triple-digit temperatures for three Utah men who went missing while looking for the legendary Lost Dutchman Gold Mine.
By late Tuesday night, authorities said there still was no sign of the …. Source article  : Search unsuccessful so far for 3 men missing in Arizona while looking for fabled gold mine.

BP begins critical test of ruptured well

WASHINGTON – BP will undertake a critical test in the coming days that could determine whether it can fully seal off the ruptured oil well that has been gushing oil into the Gulf of Mexico for nearly three months.

The “integrity test” is designed to help determine whether the well at the bottom of the gulf …. Source article on Gaea Times at  : BP begins critical test of ruptured well.

Bailouts designed for Wall Street may be hurting small banks, stalling recovery, watchdog says

Watchdog: Small banks struggling despite bailouts

WASHINGTON – To the list of economic woes squeezing small banks, add another one: government bailouts.
The Treasury Department’s bailout program was designed with Wall Street megabanks in mind, according to a new watchdog report. The “one-size-fits-all” program may actually be hurting small banks that are struggling to repay the money … Original article on : Bailouts designed for Wall Street may be hurting small banks, stalling recovery, watchdog says.

Money Market Operations as on July 13, 2010

… Read more »»».

Bank Of America Unveils Free Account

CALIFORNIA (GaeaTimes.com)- Bank Of America which is considered as one of the 4 major banks of USA has adopted a new endeavor to stay ahead in the competition. The bank is offering a new free account under the name eBanking that is meant for those users who need not visit the bank branches much … Read this article on Gaea Times at : Bank Of America Unveils Free Account.

Chandra Bhushan Paliwal new CVO of SAIL

NEW DELHI – Chandra Bhushan Paliwal of the Indian Administrative Service has taken over as the chief vigilance officer (CVO) of the Steel Authority of India (SAIL).

Prior to this posting, Paliwal served as a joint secretary in the department of personnel and training in the the ministry of personnel.
In 29 long … Read : Chandra Bhushan Paliwal new CVO of SAIL.

US bank nod to sale of equipment for Reliance Power plant

NEW DELHI – The US export-import bank has given a preliminary approval to a loan guarantee of $600 million for the sale of mining equipment for the 3,960 MW power plant of the Anil Dhirubhai Ambani Group firm, Reliance Power, in Sasan, Madhya Pradesh.

The board of the bank had on June 24 voted not to … Read more >>.

World markets down after disappointing US economic news, China economy slows

World stocks down on US, China economic news

BANGKOK – World stock markets dropped Thursday after the Federal Reserve issued a weaker economic forecast for the U.S. and China posted slower growth, cooling investor sentiment.
Oil prices fell below $77 a barrel amid mixed signals about U.S. crude demand. The yen strengthened against the dollar, while the …. Original article on Gaea Times at  : World markets down after disappointing US economic news, China economy slows.

Food inflation rises to 12.81 percent

NEW DELHI – After dropping for two straight weeks, India’s annual food inflation rose to 12.81 percent for the week ended July 3, reflecting the hike in fuel prices in the last week of June which made pulses and cereals costlier.

In the previous week, food inflation was at 12.63 percent.
Fuel prices eased to …. Source article on Gaea Times at  : Food inflation rises to 12.81 percent.

Dhumal walking towards austerity

SHIMLA – Himachal Pradesh Chief Minister Prem Kumar Dhumal walks his way to his office as an austerity measure following the hike in petrol prices.

“I prefer to go to the office on foot as petrol prices have jacked up massively, putting a massive burden on state’s exchequer,” Dhumal told IANS.
“Walking is more than a … Read more »».

Standard Chartered Acquires GE Subsidiary

SINGAPORE (GaeaTimes.com)- Standard Chartered Bank is eyeing for measures to boost its existing medium and small enterprise business segment and for that purpose it has acquired GE Commercial Financing based in Singapore. The latter deals with hire-purchase financing and medium and small enterprise factoring. Standard Chartered Bank has said that it has acquired … Read the original article on Gaea Times at : Standard Chartered Acquires GE Subsidiary.

Action needed against illegal non-banking firms: RBI

AIZAWL – The Reserve Bank of India (RBI) has suggested that state governments crack down on unauthorised non-banking firms collecting deposits from people. It also asked people not to deposit any money in them.

“The state governments, under the prevailing laws, can take action against the unauthorised Non-Banking Financial Companies (NBFCs) collecting money from people,” RBI … Read more »»».

Germany, Russia to sign multibillion dollar deals in Russia

Germany, Russia to ink multibillion deals
YEKATERINBURG, Russia – German Chancellor Angela Merkel and Russian President Dmitry Medvedev met Thursday for talks and are expected to oversee the signing of an array of deals between German and Russian companies worth billions of dollars.

In one of them, Siemens AG and Russian Railways will sign a euro2.2 billion …. Original source  : Germany, Russia to sign multibillion dollar deals in Russia.

China’s economy up 11.1 percent in first half of 2010

BEIJING – China’s economy expanded by 11.1 percent year-on-year in the first half of 2010, the National Bureau of Statistics (NBS) said Thursday.

The growth was 3.7 percentage points higher compared with the same period last year, when China was still wrestling with the global financial crisis, Xinhua reported.
China’s economy increased 10.3 percent … Original article on : China’s economy up 11.1 percent in first half of 2010.

Dhaka, Delhi move for closer economic ties

DHAKA/SYLHET – Businessmen from Bangladesh and India have agreed on joint measures to promote closer economic ties that are mutually beneficial and curb illegal trade by focusing on India’s northeastern region.

A joint declaration by visiting Indian businessmen and local businessmen Wednesday expressed commitment to boost economic ties within the sub-region and resolved to “make …. Source article on Gaea Times at  : Dhaka, Delhi move for closer economic ties.

China offers Argentina nuclear power technology

Beijing, July 15 (IANS/EFE) Argentine President Cristina Fernandez was received here Wednesday by Chinese Prime Minister Wen Jiabao as Beijing offered to provide advanced technology for Argentina’s planned fourth nuclear power plant.

Before the talks with Wen, Fernandez told reporters that she felt very satisfied with her meetings with Chinese President Hu Jintao and other senior … Read more »».

White House says stimulus funded 3 million jobs

WASHINGTON – Even as President Barack Obama’s administration claimed that the $787 billion stimulus had saved or created about three million jobs, the US Chamber of Commerce said he had “neglected” to focus on job creation.

In its latest stimulus report released Wednesday, the White House’s Council of Economic Advisers using two different models estimated the … Original source on Gaea Times at : White House says stimulus funded 3 million jobs.

Swiss drug maker Novartis says 2Q net profit up 19 pct to $2.44 billion

Drug maker Novartis says 2Q profit up 19 percent

GENEVA – Drug maker Novartis AG reported a second-quarter increase in net profit of 19 percent Thursday, as sales in its pharmaceuticals business offset health care cost-cutting efforts by some European governments.
The Basel, Switzerland-based company reported a net profit of $2.44 billion (euro1.92 billion) compared with $2.04 …. Original article  : Swiss drug maker Novartis says 2Q net profit up 19 pct to $2.44 billion.

Haryana to set up farmers’ commission

CHANDIGARH – Haryana Chief Minister Bhupinder Singh Hooda Thursday announced the setting up of a commission that will look into factors responsible for decline in farm income and other problems faced by farmers.

Hooda said the farmers’ commission would analyse the factors responsible for decline in farm income and suggest measures to enhance income of the …. Source  : Haryana to set up farmers’ commission.

Bangladesh to have more airports

DHAKA – Bangladesh is to have more international and domestic airports to facilitate economic development and act as “a bridge between the East and the West”, Prime Minister Sheikh Hasina has said.

An international airport will be named after Hasina’s father, slain leader Sheikh Mujibur Rahman, who led the country’s freedom movement, she told parliament … Read the original article on Gaea Times at : Bangladesh to have more airports.

Oil falls below $77 in Asia as investors mull mixed signals about US crude demand

Oil falls below $77 amid mixed US demand signals

SINGAPORE – Oil prices fell below $77 a barrel Thursday in Asia amid mixed signals about the strength of U.S. crude demand.
Benchmark crude for August delivery was down 29 cents to $76.75 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile … Original source on Gaea Times at : Oil falls below $77 in Asia as investors mull mixed signals about US crude demand.

China says growth slows as stimulus winds down, government clamps down on credit

China’s economic growth slows amid credit curbs

BEIJING – China’s rapid growth is slowing as the impact of its huge stimulus fades and Beijing clamps down on a credit boom.
The world’s third-largest economy expanded by 10.3 percent in the second quarter over a year earlier, down from the first quarter’s explosive 11.9 percent growth, the National … Read more >>.

US homes lost to foreclosure on track to eclipse ‘09 levels as banks work through backlog

Homes lost to foreclosure on track for 1M in 2010

LOS ANGELES – More than 1 million American households are likely to lose their homes to foreclosure this year, as lenders work their way through a huge backlog of borrowers who have fallen behind on their loans.
Nearly 528,000 homes were taken over by lenders in the …. Read the original article  : US homes lost to foreclosure on track to eclipse ‘09 levels as banks work through backlog.

US mom travels to China, birthplace of adopted daughter, in search of lifesaving bone marrow

US mom in China to find marrow donor for daughter

LIUZHOU, China – Sherrie Cramer breaks into stifled sobs as she nears the dirt-streaked former orphanage in China where her daughter lived as a severely malnourished infant.
Once again, Cramer is fighting to keep the child she adopted alive. But this time, it’s a battle against leukemia, …. Original article on Gaea Times at  : US mom travels to China, birthplace of adopted daughter, in search of lifesaving bone marrow.

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.

95 percent drowning cases in Goan beaches due to alcohol

PANAJI – If you are young, with a pale body, wearing a new ill-fitted tee shirt with ‘Goa’ conspicuously screen-printed on it, slightly tipsy and moving around on a beach in Goa in a group of four or five… chances are you will make the lifeguard posted on the beach earn his pay.

According to … Original article on : 95 percent drowning cases in Goan beaches due to alcohol.

Shutdown in Maharashtra town against TDP agitation, Naidu may be released

NANDED – A shutdown was observed Saturday in Dharmabad town in Maharashtra’s Nanded district to protest the agitation led by Telugu Desam Party chief N. Chandrababu Naidu against construction of the Babli Dam, which Andhra Pradesh fears will affect its water supply, an official said.

Naidu and his supporters, who were arrested Friday, are likely to … Read more >>.

Yankees find fitting tribute to Steinbrenner: Swisher’s single in 9th beats Tampa Bay 5-4

Fitting tribute to Steinbrenner: Yanks win in 9th

NEW YORK – Nick Swisher and the New York Yankees paid tribute to George Steinbrenner with the type of thrilling victory the demanding owner loved.
On a night that began with Mariano Rivera placing a pair of long-stemmed red roses across home plate and Derek Jeter speaking a touching … Original source on Gaea Times at : Yankees find fitting tribute to Steinbrenner: Swisher’s single in 9th beats Tampa Bay 5-4.

Virgin Galactic spaceship makes 1st crewed flight over Mojave Desert

Virgin Galactic spacecraft makes 1st crewed flight

MOJAVE, Calif. – A company working to send tourists on suborbital flights says it has tested its spacecraft with a crew for the first time.
Virgin Galactic says the craft remained attached to a specially designed airplane throughout a six-hour flight over California’s Mojave desert Thursday.
On its website, the company … Read the original article on Gaea Times at : Virgin Galactic spaceship makes 1st crewed flight over Mojave Desert.

New US law seeks disclosure of foreign payments

WASHINGTON – Publicly traded oil, gas and mining companies, including those from India and other emerging economies, will be required to disclose their payments to foreign governments under the landmark financial reform legislation.

The new law awaiting President Barack Obama’s signature will require companies to report on their filings with the Securities and Exchange Commission (SEC) …. Original source  : New US law seeks disclosure of foreign payments.

Australia’s first woman prime minister announces Aug. 21 general elections

Australian PM announces Aug. 21 elections
CANBERRA, Australia – Australia’s first woman Prime Minister Julia Gillard, who has led the country for three weeks, on Saturday called a general election on Aug. 21 and urged voters to show trust in her by returning her party for a second three-year term.

Critics accuse her of rushing to an … Read more »»».

Congress acts on bank overhaul, now regulators will have to write new rules

Congress acts on bank overhaul, but work ahead
WASHINGTON – In the end, it’s only a beginning. The far-reaching new banking and consumer protection bill that President Barack Obama intends to sign on Wednesday now shifts from the politicians to the technocrats.
The legislation gives regulators latitude and time to come up with new rules, …. Original source  : Congress acts on bank overhaul, now regulators will have to write new rules.

Australian prime minister visits governor general in 1st step toward calling August elections

Australian PM poised to announce August elections

CANBERRA, Australia – Australia’s Prime Minister Julia Gillard visited the country’s governor general Saturday, a procedural step toward calling a general election for late August.
Gillard – who grabbed power in a surprise ruling party coup three weeks ago – must defend her first-term government’s massive spending at the polls, …. Source article on Gaea Times at  : Australian prime minister visits governor general in 1st step toward calling August elections.

Search being scaled back for Utah treasure hunters missing while looking for Arizona gold mine

Still no sign of 3 Utah men on Ariz. treasure hunt

APACHE JUNCTION, Ariz. – The search is being scaled back for three Utah men reported missing while looking for the legendary Lost Dutchman Gold Mine in the Arizona wilderness.
The hikers from Salt Lake City have been in the Superstition Mountains since at least Sunday.
Officials say …. Source article  : Search being scaled back for Utah treasure hunters missing while looking for Arizona gold mine.

Yankees remember George Steinbrenner with 15-minute pregame tribute

Yankees remember Steinbrenner with tribute

NEW YORK – Mariano Rivera laid two long-stemmed red roses across home plate. Tears filled Joe Girardi’s eyes. Derek Jeter’s face was flush with emotion.
As fans stood through “Taps” and a 2-minute moment of silence, the 27 World Series championship flags that George Steinbrenner cherished with all his might could be … Original article on : Yankees remember George Steinbrenner with 15-minute pregame tribute.

US urging UN Economic and Social Council to accredit gay rights group so it can work at UN

US pushing UN status for gay rights group
UNITED NATIONS – The Obama administration and 14 members of the U.S. Congress are urging the U.N. Economic and Social Council to accredit the International Gay and Lesbian Human Rights Commission so it can work at the United Nations.

The U.S.-based organization, which has offices in South Africa, Argentina … Read more >>.

Apple offers protective cases to disgruntled iPhone buyers

SAN FRANCISCO – Hoping to stem growing disgruntlement over its latest iPhone 4, Apple Friday announced it would provide free protective covers and offer a full refund to owners whose phones suffered from widespread antenna glitches.

Apple Chief Executive Officer Steve Jobs made the offer at a hastily convened press conference after the company faced growing …. Source article on Gaea Times at  : Apple offers protective cases to disgruntled iPhone buyers.

Report: Cyclist LeMond subpoenaed in federal doping investigation

Report: Cyclist LeMond subpoenaed
NEW YORK – Three-time Tour de France champion Greg LeMond has been served with a grand jury subpoena as part of a federal investigation of possible fraud and doping charges against Lance Armstrong and his associates, according to the New York Daily News.

The newspaper reported Friday on its website that a grand … Read more >>.

State Supreme Court says Great Falls natural gas plant illegally zoned

Supreme Court sides against power plant
HELENA, Mont. – The state Supreme Court ruled Friday that Cascade County illegally zoned property for a proposed natural gas power plant, reversing a lower court decision that had sided with the county and Southern Montana Electric.

The high court, in a 4-3 decision, said the special zoning set up for … Original source on Gaea Times at : State Supreme Court says Great Falls natural gas plant illegally zoned.

Regulators shut down banks in Florida, Michigan, So Carolina; 96 US bank failures this year

Regulators shut banks in Fla, Mich, SC
WASHINGTON – Regulators on Friday shut down three banks in Florida, two in South Carolina and one in Michigan, bringing to 96 the number of U.S. banks to succumb this year to the recession and mounting loan defaults.

The Federal Deposit Insurance Corp. on Friday took over the banks: Woodlands …. Source  : Regulators shut down banks in Florida, Michigan, So Carolina; 96 US bank failures this year.

Wyoming coal industry warns of curtailed production if federal reserves not opened soon

Coal industry: Delays could affect Wyo. production

CHEYENNE, Wyo. – Wyoming’s coal industry says long delays obtaining new reserves is making it difficult to plan for the future and could take a bite out of production if the government doesn’t act soon.
The U.S. Bureau of Land Management has been taking longer than expected to sell new … Original article on : Wyoming coal industry warns of curtailed production if federal reserves not opened soon.

Christian publisher announces delay in printing Sarah Palin biography for 9- to 12-year-olds

Publisher delays Palin biography for tweens
JUNEAU, Alaska – Christian book publisher Zondervan is delaying publication of a Sarah Palin biography for young readers.
Cheryl Lundberg, Zondervan’s director of customer service, said in an e-mail that after “careful review and discussion,” it was deemed that October was not an “optimal time” to publish the book. [..] Read the original article: here.

Product recalls this week include jewelry, go-carts, play tents, drop-side cribs

Recalls this week: Jewelry, go-carts, play tents

Products that could put children and babies at risk highlight this week’s list of recalls.
Among the defective products were children’s jewelry containing the dangerous metal cadmium, and mini-bikes and go-carts with potentially faulty gas caps. Other recalls involve products that can present risks of strangulation: drop-side cribs, and small … Read this article on Gaea Times at : Product recalls this week include jewelry, go-carts, play tents, drop-side cribs.

Product Recalls: Slim-30 Herb Supplement

Product Recalls: Slim-30 Herb Supplement
The following recall has been announced:

- J&H Besta Corp. is recalling Slim-30 Herb Supplement because it contains weight-loss ingredients that have not been approved for the product. The Hicksville, N.Y., company said the product was found to contain N-Desmethyl sibutramine and traces of sibutramine, drugs used as an appetite suppressant for …. Original article  : Product Recalls: Slim-30 Herb Supplement.

Summary Box: Latest poor indicators on US economy send rates down in Treasury market

Summary Box: Weak economic news sends rates down

MORE WEAK DATA: A new report on plunging consumer confidence was the latest sign of weakness in the U.S. economy.
HOW BAD WAS IT: A survey by the University of Michigan and Reuters found that consumer confidence fell in July to its lowest point in nearly a year.
EVEN LOWER … Read the original article on Gaea Times at : Summary Box: Latest poor indicators on US economy send rates down in Treasury market.

Defining moment expected for corporate mergers, takeovers (Comment)

There is widespread anticipation regarding possible revision of the threshold limit for mandatory open offers for the purpose of takeovers from current level of 15 percent to 25 percent. If that eventually happens, interesting shareholders’ activity can be expected in several listed companies.

Under the regime of existing guidelines, at the time of the structuring of …. Read the original article  : Defining moment expected for corporate mergers, takeovers (Comment).

Gaza’s Hamas police ban women from smoking water pipes in cafes, claim it leads to divorce

Hamas bans women from smoking water pipes in cafes

GAZA CITY, Gaza Strip – Gaza’s Hamas rulers are banning women from smoking water pipes in cafes, claiming it violates tradition and leads to divorce.
Plainclothes security officials handed out the ban order to Gaza City cafes over the weekend.
Police spokesman Ayman Batneiji said Sunday that officers are … Original source on Gaea Times at : Gaza’s Hamas police ban women from smoking water pipes in cafes, claim it leads to divorce.

In Gaza tour, EU foreign policy chief checks impact of easing the blockade

EU foreign policy chief tours Gaza
GAZA CITY, Gaza Strip – The EU foreign policy chief launched a tour of Gaza Strip on Sunday by urging Israel to throw open the territory’s long-blockaded borders.

Catherine Ashton is the most senior diplomat to visit Gaza since Israel announced earlier this month that it would ease its three-year-old blockade …. Source article on Gaea Times at  : In Gaza tour, EU foreign policy chief checks impact of easing the blockade.

World’s oldest champagne found in Baltic Sea

Moscow, July 18 (IANS/RIA Novosti) A Swedish diver may have found the world’s oldest drinkable sparkling wine when he recovered several bottles of champagne amid the wreckage of a 230-year-old ship in the Baltic Sea, Swedish and Finnish media reported.

Fishermen of Finland’s Aland archipelago told Christian Ekstrom of the sunken ship several years ago, but …. Source  : Gaea News Network.

For NRIs, India has now arrived (Comment)

“Oh nooooo!” groan many non-resident Indians (NRIs) as they stood in long queues for immigration after arriving at Delhi airport. Battling jet lag after a long-haul flight and then waiting in an almost immobile queue becomes their first experience of coming to their motherland. No more.

Earlier, as NRIs arrived from New York, Toronto, London or …. Read the original article  : here.

Twitter hopes to earn money with special deals

NEW YORK – The popular microblogging service Twitter is exploring new business models.

The newest idea is special deals for Twitter users. The deals would be financed by companies that use the Twitter account @earlybird for advertising, reported Twitter on its website.
Deals will initially be almost exclusive to American markets. But, over time, it’s possible … Read the original article on Gaea Times at : Twitter hopes to earn money with special deals.

Colombia’s ‘green gold’ coffee a major hit in China

SHANGHAI – A coffee dubbed “green gold” produced in Colombia has become a hit in China, with people flocking to markets to buy the “light and silky” beverage.

Though neither strong as the Brazilian coffee nor sour as African, the Colombian coffee is quickly making its foray into the Chinese market and the ongoing world expo … Read the original article on Gaea Times at : Colombia’s ‘green gold’ coffee a major hit in China.

20,000 phone lines cut in New Jersey

NEW YORK – Over 20,000 government telephones in New Jersey have been disconnected after an audit found they were lying useless and costing the economy over $3 million.

Telecommunications authorities disconnected the phones that “no one was using”, after the audit report was released.
New Jersey State Comptroller Matthew Boxer said the Office of Information …. Source article on Gaea Times at  : 20,000 phone lines cut in New Jersey.

BP’s oil cap tests extended for 24 hours

WASHINGTON – BP Plc and the US government agreed Saturday to extend pressure testing on the new cap sealing the leaking oil well in the Gulf of Mexico, which was holding with no reports of fresh oil flowing.

BP’s 48-hour window for pressure testing the cap expired Saturday afternoon, and further testing will now go on … Read more >>>.

Steinbrenner family mourns at cemetery near Tampa 4 days after death of Yankees owner

Steinbrenner family mourns at Florida cemetery

TRINITY, Fla. – The family of George Steinbrenner placed a casket inside a mausoleum at a cemetery near Tampa on Saturday, four days after the death of the New York Yankees owner.
The two sons and two daughters of the 80-year-old owner were joined by his wife, Joan, at Trinity Memorial … Read this article on Gaea Times at : Steinbrenner family mourns at cemetery near Tampa 4 days after death of Yankees owner.

Netherlands, Venezuela to boost cooperation following Chavez airspace complaint

Dutch, Venezuelan diplomats discuss differences

CARACAS, Venezuela – The foreign ministers of the Netherlands and Venezuela agreed to strengthen cooperation after President Hugo Chavez’s government protested what it called violations of its airspace by a Dutch military aircraft, authorities said Saturday.
Dutch Foreign Minister Maxime Verhagen met with his Venezuelan counterpart, Nicolas Maduro, who called it a … Read more : Netherlands, Venezuela to boost cooperation following Chavez airspace complaint.

Rules of the game: Believe the owners’ claims of losing money when they start selling teams

Owners not believable when crying poverty
The players, we all get.

Doesn’t take a nuclear physicist to know there’s something wrong with guys like Ryan Howard or Joe Mauer pocketing $1 million or so every two weeks to play a kid’s game. Easy to understand that a role player on the Orlando Magic getting $19 million over [..] Read the original article: here.

Tennis, pool and harborside lunch as Obamas enjoy weekend respite in Maine

With policy fights looming, Obamas relax in Maine

BAR HARBOR, Maine – Spending the weekend in Maine, President Barack Obama and his family played tennis and took in the sights around this upscale resort on Saturday, even as he contemplated a new struggle over jobless benefits with his GOP foes.
After a first vacation day packed with …. Source  : Tennis, pool and harborside lunch as Obamas enjoy weekend respite in Maine.

Abbas says Israel must accept 1967 borders as baseline if direct talks are to resume

Abbas says Israel must accept foreign border force
RAMALLAH, West Bank – Palestinian President Mahmoud Abbas said he’ll resume direct peace talks if Israel accepts its 1967 frontier as a baseline for the borders of a Palestinian state and agrees to the deployment of an international force to guard them.
Abbas is under growing pressure … Original source on Gaea Times at : Abbas says Israel must accept 1967 borders as baseline if direct talks are to resume.

Blagojevich trial raises big question: How did this guy ever win 2 terms as Illinois governor?

Trial mystery: How did Blagojevich get elected?
SPRINGFIELD, Ill. – Who says Illinois politics is a tough business? The trial of Rod Blagojevich shows that even a foul-mouthed clotheshorse can be elected to the state’s highest office. Twice.
Wiretap tapes played in court portray Blagojevich as dim and lazy. He was so disconnected …. Read the original article  : Blagojevich trial raises big question: How did this guy ever win 2 terms as Illinois governor?.

EU foreign policy chief seeks open Gaza borders to allow territory’s economy to flourish

EU foreign policy chief seeks open Gaza borders
RAMALLAH, West Bank – EU foreign policy chief Catherine Ashton says Gaza’s borders must open to enable the territory’s battered economy to recover.
Ashton spoke at a news conference Saturday with Palestinian Prime Minister Salam Fayyad.
Ashton is to tour Gaza on Sunday to gauge whether Israel’s decision …. Read the original article  : EU foreign policy chief seeks open Gaza borders to allow territory’s economy to flourish.

West Bengal rules out fare hike

KOLKATA – West Bengal’s ruling Left Front Saturday ruled out any hike in public transport fares but said a meeting of state finance ministers July 21 in New Delhi will deliberate on ways to provide relief to operators due to recent increase of fuel prices.

Briefing media persons after a meeting of ruling combine partners here, …. Source  : West Bengal rules out fare hike.

4,000 km-long cable system to link Middle East with Europe

Dubai, July 17 (IANS/WAM) Leading cable operators from the UAE, Saudi Arabia, Jordan and Syria have signed an agreement to build a cable network linking the region with Europe.

The multi-terabit cable system will provide robust bandwidth connectivity for the region’s growing broadband community. It is expected to provide greater diversity for each of the …. Source  : Gaea News Network.

Flydubai launches flight to Iraq

Dubai, July 17 (IANS/WAM) The low cost airline Flydubai has launched its first flight to Iraq by flying to the city of Erbil, the capital of the Kurdish region, the company announced Saturday.

The FZ201 aircraft completed a three-hour journey to Erbil Friday after it took off from the Dubai International Airport.
Flydubai’s chief commercial …. Original article on Gaea Times at  : Flydubai launches flight to Iraq.

Sell more policies for better renewal ratio: Insurance regulator

CHENNAI – In order to increase the persistency or continuity of life insurance policies by policyholders, the Insurance Regulatory and Development Authority (IRDA) has suggested agents sell more policies per year.

In an exposure draft on persistency of life insurance policies, the IRDA has suggested a series of measures, including asking them to procure a minimum …. Read the original article  : Sell more policies for better renewal ratio: Insurance regulator.

Euro trades near 2-month highs despite downgrade for Ireland’s public debt

Euro hovers short of 2-month highs
BERLIN – The euro hovered a little short of two-month highs against the dollar on Monday, despite a rating agency’s downgrade for Irish government bonds, as concern persisted over prospects of slower U.S. growth.

The 16-nation currency slipped as low as $1.2872 before recovering to $1.2970 in morning European trading – … Original source on Gaea Times at : Euro trades near 2-month highs despite downgrade for Ireland’s public debt.

Rains hit Agra region, could salvage bajra crop

AGRA – Rains lashed the Agra region of Uttar Pradesh Monday after a long dry spell, reviving hopes of a good bajra crop this kharif season.

Farmers in the region had gone in for early sowing of bajra after the met department forecast good rains in July. But there was only 90 mm of rainfall till …. Read the original article  : Rains hit Agra region, could salvage bajra crop.

India, Pakistan showcase aviation wares at Farnborough airshow

FARNBOROUGH – Led by their respective state-run agencies, India and Pakistan are exhibiting their aviation wares at the Farnborough International Airshow that got underway Monday at this town, some 55 km from southwest of London.

India’s Hindustan Aeronautics Ltd (HAL) and the Pakistan Aeronautical Complex (PAC) are among 1,393 exhibitors from 40 countries taking part in …. Original article on Gaea Times at  : India, Pakistan showcase aviation wares at Farnborough airshow.

Clinton reveals new aid projects in Pakistan visit aimed at improving US image

Clinton reveals new aid projects in Pakistan visit

ISLAMABAD – U.S. Secretary of State Hillary Rodham Clinton sought Monday to convince skeptical Pakistanis that American interest in their country extends beyond the fight against Islamist militants by announcing a raft of new aid projects worth $500 million.
The projects, which include hospitals and new dams for badly … Read more >>>.

World shares retreat after Wall Street, consumer confidence tumble

World shares retreat after Wall Street tumble

BANGKOK – World stock markets fell Monday after U.S. consumer confidence plunged and corporate results fell short of expectations, signs the world’s biggest economy may be in danger of falling back into recession.
Oil prices fell slightly to below $76 a barrel as traders eyed falling global stocks markets ahead …. Source article on Gaea Times at  : World shares retreat after Wall Street, consumer confidence tumble.

Money Market Operations as on July 17, 2010

…. Original article on Gaea Times at  : Money Market Operations as on July 17, 2010.

Clinton unveils $500-mn aid projects for Pakistan

ISLAMABAD – US Secretary of State Hillary Rodham Clinton Monday announced more than $500 million worth of development projects for Pakistan that focus on improving water storage, the energy sector, food exports and medical facilities.

The aid, which is the part of a $7.5-billion five-year development package passed by the US Congress last year, aims at …. Source  : Clinton unveils $500-mn aid projects for Pakistan.

Swedish appliance maker Electrolux says Q2 profits rise by 56 pct due to cost savings

Electrolux Q2 profits rise, helped by cost savings

STOCKHOLM – Swedish appliance maker Electrolux AB on Monday said its net profit rose by 56 percent in the second quarter despite weaker sales as cost-saving initiatives started to bear fruit.
The company, based in Stockholm, said net profit totaled 1.03 billion Swedish kronor ($140 million), up from 658 …. Original article  : Swedish appliance maker Electrolux says Q2 profits rise by 56 pct due to cost savings.

Abu Dhabi firm, U.S. helicopter maker Sikorsky team up to service military aircraft in Mideast

Abu Dhabi, Sikorsky to service military aircraft

DUBAI, United Arab Emirates – A state-owned Abu Dhabi aircraft company is launching a joint venture with Sikorsky Aerospace Services to maintain and repair military aircraft across the Middle East.
Abu Dhabi Aircraft Technologies said its deal with Sikorsky is worth more than $800 million.
The new company will eventually be …. Read the original article  : here.

Moody’s cuts rating on Ireland’s government bonds due to weak economic outlook

Moody’s downgrades Irish government debt rating

DUBLIN – Moody’s ratings agency on Monday downgraded Irish government bonds by one notch due to a deteriorating economic outlook, a heavy debt burden and liabilities in the banking system.
Ireland was hit hard by the global financial crisis as a collapse in the property market nearly took down the banking … Read more »».

North Korea, Myanmar to dominate Southeast Asian security meetings in Vietnam

North Korea expected to steal ASEAN spotlight
HANOI, Vietnam – Tensions with North Korea are expected to overshadow Asia’s largest security forum this week in Vietnam – four months after 46 South Korean sailors were killed in the sinking of a warship that was blamed on Pyongyang.
The reclusive North, which has denied attacking the … Read the original article on Gaea Times at : North Korea, Myanmar to dominate Southeast Asian security meetings in Vietnam.

Demand lifts Electrolux Q2 profits

STOCKHOLM – Higher demand in several markets including North America helped lift second-quarter earnings, Swedish home appliance maker Electrolux said Monday.

Net profit, excluding items affecting comparability, was 1.1 billion kronor ($148 million), compared with 633 million kronor a year earlier.
Sales in the quarter were down 1 percent to 27.3 billion kronor.
Electrolux said the … Read more : Demand lifts Electrolux Q2 profits.

IRDA is micro managing life insurers: Experts

CHENNAI – The Insurance Regulatory and Development Authority (IRDA) seems to be trying to micro-manage the sector with its proposed measures on hiking the policy persistency (policy continuity/renewal) ratio, say life insurance industry experts.

In an exposure draft on persistency of life insurance policies, the IRDA has suggested a target of 20 policies per year for …. Source  : Gaea News Network.

Lighting and electronics maker Philips says Q2 profit rebounds after global economic crisis

Philips Q2 profits up on strong sales
THE HAGUE, Netherlands – Royal Philips Electronics NV, the world’s largest maker of lights, said Monday its second quarter profit rose sharply, thanks to strong sales at its lighting and consumer electronics divisions, particularly in emerging markets.

Net profit was euro262 million ($340 million), up from euro45 million in the … Original article on : Lighting and electronics maker Philips says Q2 profit rebounds after global economic crisis.

Abortion rights groups denounce Obama administration decision to deny coverage

Abortion foes win a round in health overhaul

WASHINGTON – Abortion foes have scored a victory and traditional allies of the Obama administration are grumbling about a decision to ban most abortion coverage in insurance pools for those unable to purchase health care on their own.
The Catholic bishops “welcome this new policy,” said Cardinal Daniel DiNardo, … Read the original article on Gaea Times at : Abortion rights groups denounce Obama administration decision to deny coverage.

Lighting and electronics maker Philips says Q2 profit rebounds after global economic crisis

Philips Q2 profits up on strong sales
THE HAGUE, Netherlands – Royal Philips Electronics NV, the world’s largest maker of lights, said Monday its second quarter profit rose sharply, thanks to strong sales at its lighting and consumer electronics divisions, particularly in emerging markets.

Net profit was ???262 million ($340 million), up from ???45 million in the …. Original article on Gaea Times at  : Lighting and electronics maker Philips says Q2 profit rebounds after global economic crisis.

Pa. Senate race underscores Democratic troubles with independent voters in midterm vote

Independents crucial to Dems’ election prospects
MEDIA, Pa. – Democrat Joe Sestak – a son of the Philadelphia suburbs – needs the independent voters in his backyard as he campaigns for a Senate seat in a swing state that may tilt Republican this year.
Independents have been turning away from President Barack Obama and … Read more »»».

La. biologist hopes to make crawfish boils part of football tailgating with different species

Louisiana biologist sees future in shrimp crawfish

NEW ORLEANS – Way down South, where football and food are close to religions, tailgate parties could turn into crawfish boils a few autumns from now if a Louisiana State University project works out.
“I certainly hope so. It would be a nice option to have,” said Greg Lutz, an … Read more >>>.

La. scientist hopes to make crawfish boils part of football tailgating with different species

Louisiana scientist sees future in shrimp crawfish

NEW ORLEANS – A Louisiana State University biologist hopes his work will bring crawfish boils to football tailgate parties within a few years.
Aquaculture specialist Greg Lutz is studying whether shrimp crawfish could be raised profitably, like the currently farmed red swamp and white river crawfish.
Those species are a staple [..] Read the original article: here.

Oil prices fall below $76 as investors mull stocks markets, corporate earnings

Oil prices fall below $76 as traders eye equities

SINGAPORE – Oil prices fell slightly to below $76 a barrel Monday in Asia as traders eyed falling global stock markets ahead of more key corporate earnings reports this week.
Benchmark crude for August delivery was down 13 cents to $75.88 a barrel at midday Singapore time in … Read the original article on Gaea Times at : Oil prices fall below $76 as investors mull stocks markets, corporate earnings.

European regional airline Flybe announces purchase of up to 140 Embraer aircraft

Euro carrier Flybe to buy up to 140 Embraer planes

FARNBOROUGH, England – European regional airline Flybe says it has signed a contract to buy 35 Embraer 175 aircraft from the Brazilian manufacturer in a $1.3 billion deal.
Flybe said Tuesday at the Farnborough International Airshow that it also signed up for options on a total of … Read more »»».

Sensex slips from morning high of 18,000 plus

MUMBAI – A benchmark index for Indian equities Tuesday slipped from its morning highs with the overall market turning sluggish in afternoon trade.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,918.43 points, was ruling at 17,968.69 points, 40.27 points or 0.22 percent up from its previous close at 17,928.42 … Read more >>>.

China steps up crackdown on potentially dangerous ‘gutter oil’ skimmed from kitchen waste

China sounds alarm over filthy cooking oil

BEIJING – China has ordered food safety officials nationwide to step up the fight against “gutter oil” that is illegally skimmed from kitchen waste and resold, part of a government crackdown on foods tainted with potentially lethal substances.
China’s Cabinet, the State Council, said the black market trade in waste … Read the original article on Gaea Times at : China steps up crackdown on potentially dangerous ‘gutter oil’ skimmed from kitchen waste.

Those storm troopers are real! Costumed members of 501st Legion get ready to invade Comic-Con

Storm troopers get ready to invade Comic-Con

LOS ANGELES – On the outside, they all look the same: White armor, white helmets, black blaster rifles. Imperial soldiers from a galaxy far, far away, they’re loyal only to the Empire and recognizable everywhere as “Star Wars” storm troopers.
Inside, though, are different stories. Those armored clones are lovingly … Original article on : Those storm troopers are real! Costumed members of 501st Legion get ready to invade Comic-Con.

Optimistic start for Farnborough Air show fuels hope that worst is past for airlines

Air show fuels hope of better days for airlines

FARNBOROUGH, England – A flurry of orders for Airbus and Boeing signaled an optimistic start to the Farnborough International Airshow – and more are expected as the show enters its second day.
On Monday, deals worth more than $17 billion suggested the worst may be over for the … Read more : Optimistic start for Farnborough Air show fuels hope that worst is past for airlines.

R-Ifra bags Rs.3,000-crore Delhi-Agra road project

NEW DELHI – Anil Dhirubhai Ambani Group firm Reliance Infrastructure has signed an agreement with the National Highways Authority of India for developing the Rs.3,000 crore Delhi-Agra highway project.

“R-Infra has signed a concession agreement for six-laning of the 180-km stretch of the Delhi-Agra road project,” the company said in a statement.
The total … Original source on Gaea Times at : R-Ifra bags Rs.3,000-crore Delhi-Agra road project.

Afghanistan invites Indian firms to tap minerals

KABUL/NEW DELHI – Afghanistan has invited Indian companies to tap mineral deposits estimated to be worth up to $3 trillion, a move that is set to raise India’s stakes in reconstruction of the violence-torn country.

Afghan Minister for Minerals Wahidullah Shahrani met India’s External Affairs Minister S.M. Krishna in Kabul Monday night and welcomed Indian …. Source  : Afghanistan invites Indian firms to tap minerals.

Ryanair’s Q1 net profit falls 24 percent over business lost to volcanic ash, higher fuel costs

Ryanair Q1 profit falls over volcano, fuel costs

DUBLIN – Irish budget airline Ryanair reported a 24 percent drop in first-quarter net profit Tuesday, citing euro50 million ($65 million) in lost business from the Icelandic volcano as well as a rising fuel bill – but the carrier says it remains poised to keep expanding.
Net profit for …. Original article on Gaea Times at  : Ryanair’s Q1 net profit falls 24 percent over business lost to volcanic ash, higher fuel costs.

Indian-origin man offers world’s most expensive car wash

LONDON – An Indian origin man has started offering the world’s most expensive car wash service in Britain at 7,200 pounds.

Thirty-year-old car enthusiast Gurcharn Sahota takes up to 250 hours to systematically clean each vehicle with 100 cleaning fluids and wax and he ends up polishing the car inside and out five times.
He uses …. Original article  : Indian-origin man offers world’s most expensive car wash.

US sees big drop in child labour use by Indian carpet-makers

WASHINGTON – Finding sizeable drop in the use of child workers by India’s carpet industry, the US Labour Bureau has done away with the need for a guarantee from federal procurement agencies that such merchandise is free from child labour.

According to an official statement, after thorough third-party monitoring and detailed analysis of data collected on …. Read the original article  : US sees big drop in child labour use by Indian carpet-makers.

Backed by moderate Republicans, Democrats expect to extend jobless benefits with Senate vote

Democrats to give jobless benefits another vote
WASHINGTON – Millions of people stuck on the jobless rolls would receive an extension of unemployment benefits averaging $309 a week under a Senate bill that appears set to break free of a Republican filibuster.
Democrats have stripped the unemployment insurance measure down to …. Source  : Gaea News Network.

Trying to show he knows Americans’ woes, Obama points to himself to win support for agenda

For Obama, selling an agenda can get personal
WASHINGTON – Ever in search of the right face to humanize his agenda, President Barack Obama sure isn’t shy about using his own.
Never mind the limousine, the butlers and the presidential jet Obama has now. Or the Ivy League degrees and the millions of dollars in …. Source article  : Trying to show he knows Americans’ woes, Obama points to himself to win support for agenda.

AP-Univision Poll: For US Hispanics, high hopes blend with realism, deep economic stresses

AP-Univision Poll: US Hispanics mix hopes, strains

MIAMI – Yadilka Aramboles eyes her three young children playing on the sidewalk and sees college in their future – even though her husband’s modest accountant’s income barely covers the family’s most basic expenses.
“The situation is bad now, but I have faith that this is going to change,” says … Read more : AP-Univision Poll: For US Hispanics, high hopes blend with realism, deep economic stresses.

American Eagle is On the Rise

NEW YORK (GaeaTImes.com) — American Eagles are one of the costliest birds in the sky of economy. It is the official gold coin of USA govt. and is perhaps the most sought after coin in the world. The brand also includes coins of silver and platinum.
The reason that most of the people investing in … Read more : American Eagle is On the Rise.

Asian stocks mostly rise, shrugging off IBM result as China shares jump for second day

Asia markets mostly rise amid jump in China shares

BANGKOK – Asian markets mostly rose Tuesday, shrugging off weak U.S. corporate results as Chinese shares leapt for a second day amid expectations Beijing will moderate its efforts to cool the world’s No. 3 economy. European stocks were mostly lower.
Asia’s markets reversed course from a lackluster early … Read more : Asian stocks mostly rise, shrugging off IBM result as China shares jump for second day.

BlackBerry now touts Messenger to woo the young

TORONTO – Facing a fierce onslaught from Apple’s iPhone 4 and Google Android devices, BlackBerry maker Research In Motion (RIM) is pulling out all the stops to woo consumer and youth market.

The Waterloo-based Canadian wireless giant has just launched TV, Internet and poster ads to woo young people in North America by playing up its … Read more : BlackBerry now touts Messenger to woo the young.

SE Asian ministers urge Myanmar to hold free election; want to help bring NKorea back to talks

ASEAN urges Myanmar to hold free, fair election

HANOI, Vietnam – Southeast Asian foreign ministers gave Myanmar’s military-run government an “earful” while demanding that it hold free and fair elections – a rare stand by the cautious group often accused of overlooking rights abuses in member nations.
Foreign ministers from the 10-member Association of Southeast Asian Nations …. Read the original article  : here.

India shops for combat aircraft at Farnborough

FARNBOROUGH – Indian defence authorities, led by Minister of State for Defence M.M. Pallam Raju, are looking to see the international response to some of the latest multi-role combat aircraft on display at the Farnborough Air Show here which are being evaluated by India for upgrading its air force.

Pallam Raju is leading the Indian delegation, …. Source article on Gaea Times at  : India shops for combat aircraft at Farnborough.

Oil hovers below $77 as mixed signs from economy, stock markets extend July malaise

Oil hovers below $77 amid mixed signs on economy

SINGAPORE – Oil prices hovered below $77 a barrel Tuesday in Asia as crude traders wait for clearer signals on the strength of the global economy and stock markets.
Benchmark crude for August delivery was up 18 cents to $76.72 a barrel at late afternoon Singapore time in …. Source  : Gaea News Network.

ADB: China needs higher interest rates or stronger yuan to avoid inflation and ‘hard landing’

ADB: China may need rate hikes to avoid inflation

SINGAPORE – China should boost interest rates or allow its currency to strengthen to help curb inflation pressures, the Asian Development Bank said Tuesday.
China, like most Asian countries, boosted government spending and slashed lending rates last year to help spur economic growth amid a global recession. The …. Source  : ADB: China needs higher interest rates or stronger yuan to avoid inflation and ‘hard landing’.

Bangladesh to implement 14 projects with Indian loan

DHAKA – India and Bangladesh have finalised 14 infrastructure projects, including those that will enhance connectivity between the two countries, which will be implemented with an Indian loan of $1 billion.

Indian Prime Minister Manmohan Singh announced a line of credit of $1 billion during the visit of Bangladesh Prime Minister Sheikh Hasina in January for …. Source article  : Bangladesh to implement 14 projects with Indian loan.

Under people’s protest Jharkhand closes Koel-Karo project

RANCHI – Succumbing to people’s power, the Jharkhand government finally closed the ambitious 710 MW Koel-Karo hydro-electric project Tuesday, 37 years after its conception.

The Advisory Council of Governor put a seal of closure on the long-pending projects which could not take off due to protests by tribals facing displacement.
The state government … Read the original article on Gaea Times at : Under people’s protest Jharkhand closes Koel-Karo project.

Chilean airline to buy 50 new Airbus planes

Santiago, Jul 21 (IANS/EFE) Chile’s LAN Airlines has said it will buy 50 Airbus planes as part of a deal worth $4.15 billion between 2012 and 2016.

Under the agreement, the airline will buy A319, A320 and 210-seater A321 aircraft.
The new airplanes are “highly efficient” in fuel consumption, designed with advanced technology to help diminish …. Read the original article  : here.

Orders reach $25 billion so far at Farnborough Airshow as Day 3 gets under way

Farnborough Airshow orders reach $25 bln so far

FARNBOROUGH, England – Aircraft orders at the Farnborough International Airshow this week have reached $25 billion, indicating a rapid recovery in the sector, and more are expected on Wednesday.
Excitement about the strong start for the event has been dampened by a depressed outlook for defense sales, as many …. Original source  : Orders reach $25 billion so far at Farnborough Airshow as Day 3 gets under way.

NKorea’s top diplomat likely on damage control mission at Asian security meeting

North Korea to dominate Asia security meeting

HANOI, Vietnam – North Korea’s top diplomat will be on a damage control mission this week at an Asian security meeting, pleading innocent to the sinking of a South Korean warship that killed 46 sailors and has been widely blamed on Pyongyang, an analyst said Wednesday.
North Korean Foreign Minister … Read : NKorea’s top diplomat likely on damage control mission at Asian security meeting.

Sweeping financial overhaul about to become law; victory for Obama

Obama poised to sign sweeping financial overhaul
WASHINGTON – President Barack Obama aims to usher in a new era of consumer protections and banking restrictions Wednesday, checking off another legislative victory just before election-year politics overtakes the rest of his major agenda.
The president was set to sign a sweeping overhaul of financial regulations, a … Read the original article on Gaea Times at : Sweeping financial overhaul about to become law; victory for Obama.

Now a car that tweets

NEW YORK – Online blogging is a trendy communication tool not just for tech-savvy humans. Now your car can also send messages on Twitter and have more followers than even singer Lady Gaga and US President Barack Obama.

The car that can tweet is AJ, a future model of Ford Fiesta, which is a test bed …. Source article on Gaea Times at  : Now a car that tweets.

Sensex moves up to 18,000 amid positive Asian cues

MUMBAI – A benchmark index for Indian equities Wednesday noon moved further up from its opening trade highs and touched the 18,000 mark amid stable cues from other Asian markets.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,873.92 points, was ruling at 18,000.78 points, 122.64 points or 0.69 percent … Read the original article on Gaea Times at : Sensex moves up to 18,000 amid positive Asian cues.

Italy’s Fiat returns to Q2 profit, approves separation of auto and industrial businesses

Fiat makes profit, approves split into 2 companies

MILAN – The Italian automaker Fiat, which controls Chrysler, on Wednesday reported a return to second-quarter profits on improved sales of agriculture equipment and trucks, and said it may raise its 2010 forecasts.
Fiat also said its board approved the plan to separate its industrial vehicle and auto businesses … Original article on : Italy’s Fiat returns to Q2 profit, approves separation of auto and industrial businesses.

Oakland City Council approves plan that would permit large-scale marijuana farms

Oakland votes to permit large pot farms
SAN FRANCISCO – The Oakland City Council has approved a plan to license four production plants where marijuana would be grown, packaged and processed, moving Oakland closer to becoming the first city in the nation to authorize wholesale pot cultivation.

The council voted 5-2 with one abstention late Tuesday in …. Read the original article  : Oakland City Council approves plan that would permit large-scale marijuana farms.

AgustaWestland unveils new-generation chopper at Farnborough

FARNBOROUGH – AgustaWestland, a Finmeccanica company, has unveiled a new generation multi-purpose twin-engine light transport helicopter that it says be used in India’s homeland security.

“We have been successful in India. I am sure there will be a market in India,” AgustaWestland communications manager Geoff Russell told IANS of the AW169 that was unveiled at the … Original source on Gaea Times at : AgustaWestland unveils new-generation chopper at Farnborough.

Police: 2 killed in attack on Russian hydropower station

Police: 2 killed in Russian power station attack

ROSTOV-ON-DON, Russia – Two carloads of assailants attacked a hydroelectric station in southern Russia on Wednesday, killing two workers and setting off bombs.
The attack took place in Kabardino-Balkariya, one of the republics in Russia’s restive Caucasus region where clashes with insurgents are frequent.
A spokesman for the republic’s police, …. Source  : Gaea News Network.

Some Gaza factories revive with easing of Israel’s blockade, but economic recovery far off

With blockade’s easing, some Gaza factories revive

BEIT HANOUN, Gaza Strip – Some of the hundreds of Gaza factories idled by Israel’s blockade are cranking up rusty machines to can tomatoes, mix concrete and press pills again now that Israel is allowing in raw materials for the first time in three years.
But Israel’s recent easing of …. Original article on Gaea Times at  : Some Gaza factories revive with easing of Israel’s blockade, but economic recovery far off.

Dhaka, Delhi finalise 14 projects worth $1 bn

DHAKA – Dhaka and New Delhi have finalised 14 development projects to be implemented with an Indian loan of $1 billion.

Both the countries will be directly benefited as some of the projects are aimed at enhancing connectivity between Bangladesh and India’s northeastern region.
The South Asian neighbours have been quick to follow up on the … Read more : Dhaka, Delhi finalise 14 projects worth $1 bn.

Vilsack says USDA will reconsider ouster of employee who resigned over race comments

USDA reconsiders employee ouster over race remarks
WASHINGTON – Agriculture Secretary Tom Vilsack said Wednesday he will reconsider the department’s decision to oust a black employee over racially tinged remarks after learning more about what she said.
Vilsack issued a short statement early Wednesday morning after Shirley Sherrod, who until Tuesday was … Original article on : Vilsack says USDA will reconsider ouster of employee who resigned over race comments.

Google shuts two online services in China

BEIJING – Internet search engine giant Google will shut down its two China-based online services and stop providing technical support to a Chinese-language website.

The company announced this decision Tuesday, 10 days after the Chinese government renewed Google’s licence to continue its operation in the country.
Google’s plan encompasses closure of a self-developed website ranking page … Original source on Gaea Times at : Google shuts two online services in China.

Oil hovers below $78 as US crude inventories fall less than expected

Oil hovers below $78 after small crude supply drop

SINGAPORE – Oil prices hovered below $78 a barrel Wednesday in Asia after a report showed U.S. crude supplies fell less than expected last week, suggesting demand for fuel remains tepid.
Benchmark crude for September delivery was down 10 cents to $77.48 a barrel at midday Singapore time … Original source on Gaea Times at : Oil hovers below $78 as US crude inventories fall less than expected.

Bernanke looks to reassure Congress that Fed will do what it takes to keep recovery alive

Fed chief focused on keeping recovery alive

WASHINGTON – Federal Reserve Chairman Ben Bernanke heads to Congress Wednesday with a message of reassurance: The Fed stands ready to take new steps to bolster the recovery if the economy worsens.
The Fed chief kicks off back-to-back appearances on Capitol Hill at a delicate time for the economy. The … Read the original article on Gaea Times at : Bernanke looks to reassure Congress that Fed will do what it takes to keep recovery alive.

Money Market Operations as on July 20, 2010

…. Original source  : Money Market Operations as on July 20, 2010.

Asian stock markets modestly as Apple’s quarterly earnings power gains in technology shares

Asia stocks rise as Apple result lifts tech sector

TOKYO – Asian stock markets posted mild gains Wednesday after better-than-expected earnings from technology bellwether Apple nudged Wall Street higher.
Japan’s Nikkei 225 stock average snapped a three-session losing streak during which the index lost 5 percent. The Nikkei finished the morning session up 0.2 percent at 9,321.65.
Hong …. Original article on Gaea Times at  : Asian stock markets modestly as Apple’s quarterly earnings power gains in technology shares.

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.

Broadband users to grow to 275 mn by 2015: Report

NEW DELHI – The broadband subscriber count in the country is likely to rise to 275 million by 2015 from the current nine million, says a report.

The growth in subscriber base will take place because submarine cable capacity is expected to grow and supply of capacities is likely to increase significantly with … Read the original article on Gaea Times at : Broadband users to grow to 275 mn by 2015: Report.

Petrol pumps owners observe strike in West Bengal

KOLKATA – Vehicle owners and public transport operators had a difficult time in West Bengal Friday as petrol pump owners went on a day-long strike, demanding an increase in commission in the wake of recent fuel price hike.

“The fuel prices have increased a lot. In current scenario if our commission is not increased then it …. Original article on Gaea Times at  : Petrol pumps owners observe strike in West Bengal.

US Chamber of Commerce to endorse Republican candidate Rubio in Florida’s US Senate race

Chamber backs tea-party-favorite Rubio in Florida

WASHINGTON – The U.S. Chamber of Commerce is backing Marco Rubio’s bid for the Senate, pledging to help the tea party-favored candidate emerge from a tight three-way race in Florida.
The organization plans a Saturday rally in Orlando to announce Rubio, a former state House speaker, as its latest candidate to … Read more : US Chamber of Commerce to endorse Republican candidate Rubio in Florida’s US Senate race.

Advisory panel backs RBI monetary policy tightening

NEW DELHI – India’s central bank should look at tightening the monetary policy to tame sustained inflation, now that the country’s economic growth trajectory looked firmer, the Prime Minister’s Economic Advisory Council said here Friday.

“Monetary policy has to move away from an accommodative stance sooner than what is happening in other countries. There must be … Read : Advisory panel backs RBI monetary policy tightening.

Ex-Ways and Means Chairman Rangel says he’ll fight ethics charges; some Democrats may balk

Rangel says he’s ready to fight ethics charges

WASHINGTON – Rep. Charles Rangel, who has spent half of his 80 years as a member of Congress, says he looks forward to fighting ethics charges. Other Democrats won’t be so pleased.
The ethics trial sought by the New York congressman and former Ways and Means Committee chairman will … Read more »»».

Respected at home and abroad, Pakistan’s powerful army chief gets 3 more years

Pakistan’s respected army chief to stay on

ISLAMABAD – The decision to extend the term of army chief Gen. Ashfaq Parvez Kayani leaves a respected soldier at the helm of Pakistan’s most powerful institution just as the U.S. looks for a reliable partner in the war in against the Taliban and al-Qaida.
Kayani, 58, is known to …. Source  : Respected at home and abroad, Pakistan’s powerful army chief gets 3 more years.

Swedish truck maker Scania Q2 profits soar on higher volumes, cost cuts, better capacity use

Scania reports surge in Q2 profits
STOCKHOLM – Swedish truck maker Scania AB on Friday returned to a healthy second-quarter net profit, mainly thanks to higher vehicle volumes, better capacity use and lower costs. Improved margins also helped boost the results.

Net profit for the three month period ending June 30 bounced to 2.4 billion kronor ($326 … Read the original article on Gaea Times at : Swedish truck maker Scania Q2 profits soar on higher volumes, cost cuts, better capacity use.

NKorea tensions rise as US pushes Asian nations on nukes, territorial disputes

NKorea tensions spike at Asian security forum

HANOI, Vietnam – North Korea on Friday threatened the United States and South Korea with a “physical response” to planned weekend naval exercises as tensions with the communist nation rose in the aftermath of the sinking of a South Korean warship blamed on the North.
In Vietnam for a Southeast …. Read the original article  : NKorea tensions rise as US pushes Asian nations on nukes, territorial disputes.

Bangladesh FDI drops 36 percent

DHAKA – Foreign direct investment (FDI) in Bangladesh plunged by 36 percent in 2009 and may see no dramatic improvement, the UN Conference on Trade and Development (UNCTAD) has said.

The UNCTAD blames it on the bureaucratic red tape that continues to act as the biggest barrier in attracting overseas funds.
The economy was also … Read this article on Gaea Times at : Bangladesh FDI drops 36 percent.

World stocks up, fueled by biggest Wall Street rally in weeks, solid US earnings

World shares up amid confidence in recovery

BANGKOK – World stock markets were up Friday after Europe showed signs of growth and U.S. stocks rallied to a two-week high, lifted by better-than-expected results from industry giants like Caterpillar and Microsoft.
Oil prices held above $79 a barrel after surging the day before as stock markets rallied and …. Source article on Gaea Times at  : World stocks up, fueled by biggest Wall Street rally in weeks, solid US earnings.

Ex-servicemen build tallest model rail track

LONDON – Former British servicemen have built the tallest model railway track in the world at the St Pancras station here.

At 10-feet tall, the train track is already attracting much interest from passengers since it was unveiled Wednesday, reports telegraph.co.uk.
The project was sponsored by Royal British Legion Industries, a charity that helps put … Original article on : Ex-servicemen build tallest model rail track.

Economy to grow 8.5 percent: PMEAC

New Delhi, July 23 (ANI): The Prime Minister’s Economic Advisory Council (PMEAC) on Friday revised the growth forecast for the current fiscal to 8.5 percent from 8.2 percent earlier.

Addressing a press conference here, the chairman of the advisory council Dr. C Rangarajan, said inflation would be 6.5 percent by the end of fiscal 2010. …. Source article  : Economy to grow 8.5 percent: PMEAC.

Government to put out a white paper on housing

NEW DELHI – The government is preparing a white paper that will bring out all the issues affecting supply and demand in the housing sector, a top official said here.

“Towns and cities are growing by default rather than by design. There needs to be a rethink on the land use issue and we are in …. Read the original article  : Government to put out a white paper on housing.

Vodafone says it returned to growth in organic service revenue in Q1

Vodafone says revenues resumed growing in Q1

LONDON – Vodafone Group PLC, the mobile phone company, says revenues grew on a comparable basis in its first quarter, the first period of growth since the recession hit.
Vodafone said Friday that revenue on an organic basis – excluding the effect of acquisitions, disposals and currency movements – was … Original source on Gaea Times at : Vodafone says it returned to growth in organic service revenue in Q1.

Ford bullish on bumpy Japan market after Asian manufacturing investments

Ford bullish on Japan with new Asian investments

TOKYO – Ford hopes its investments in Asia will dramatically boost sales in Japan – a market so dominated by local makers like Toyota and Honda that the U.S. automaker has long struggled to maintain a toehold.
Tim Tucker, chief executive of Ford Motor Co.’s Japan operations, said Friday … Read this article on Gaea Times at : Ford bullish on bumpy Japan market after Asian manufacturing investments.

3 top administrators whose huge salaries sparked outrage in California city have resigned

Calif. council accepts resignations of 3 managers

BELL, Calif. – Three administrators whose huge salaries have sparked outrage in this small blue-collar suburb of Los Angeles have agreed to resign.
City Council members emerged from an hours-long closed session at midnight Friday and announced that they’d accepted the resignations of Chief Administrative Officer Robert Rizzo, Assistant City …. Original source  : 3 top administrators whose huge salaries sparked outrage in California city have resigned.

Rude behaviour among employees turns off customers

WASHINGTON – Rude behaviour among employees can turn off consumers, even when it is not directed at them.

In restaurants, banks, government offices, retail stores and universities, consumers frequently report seeing employees behaving badly towards their colleagues.
“These findings underscore the need for organisations to promote employee civility,” said study co-author Deborah MacInnis.
MacInnis is … Read this article on Gaea Times at : Rude behaviour among employees turns off customers.

NKorea threatens ‘physical response’ to joint US-SKorea drills planned for this weekend

NKorea threatens ‘physical response’ to US drills

HANOI, Vietnam – North Korea has threatened a “physical response” if the U.S. and South Korea go ahead with joint military exercises planned for this weekend.
North Korean spokesman Ri Tong Il told reporters at the Association of Southeast Asian Nations meeting in Hanoi, Vietnam, on Friday that the exercises [..] Read the original article: here.

Swedish defense group Saab posts drop in Q2 profits, cuts 2010 outlook

Sweden’s Saab says Q2 profit fell
STOCKHOLM – Swedish aerospace and defense group Saab AB on Friday posted a near 40 percent drop in second-quarter net profits, largely due to a terminated customer contract, resulting in a 2010 outlook downgrade.

Net profit in the quarter reached around 177 million kronor ($24 million), tumbling from 294 million kronor … Read : Swedish defense group Saab posts drop in Q2 profits, cuts 2010 outlook.

Highlights of report presented by PM’s economic panel

NEW DELHI – Following are the highlights of the observations and forecasts on the performance of the Indian economy made by the Prime Minister’s Economic Advisory Council, chaired by C. Rangarajan, here Thursday:

-Economy to grow at 8.5 percent in 2010-11 and 9.0 percent next fiscal
-Agriculture to grow at 4.5 percent in 2010-11 and 4 …. Source article on Gaea Times at  : Highlights of report presented by PM’s economic panel.

Iran begins studies to build experimental nuclear fusion reactor

Iran studies building fusion reactor
TEHRAN, Iran – Iran’s nuclear agency announces it studying to construct an experimental nuclear fusion reactor, something no country has ever built.

Iran is not known to have carried out anything but basic fusion research. Its current nuclear fission program is being watched with concern by the U.S.
The U.S. and its allies … Read the original article on Gaea Times at : Iran begins studies to build experimental nuclear fusion reactor.

A grocery shop in Britain sans shopkeeper

LONDON – No shopkeeper to man it. Yet, a grocery store in Britain opens round the clock and sell household goods to the residents without fearing theft.

The village shop in Draughton, North Yorkshire, is never locked or manned, and relies on old-fashioned honesty to balance its books, Daily Mail reported.
The phone box-turned …. Source article on Gaea Times at  : A grocery shop in Britain sans shopkeeper.

State of infrastructure not good enough, need to do more: PM

NEW DELHI – India is not meeting its infrastructure development targets and needs to rework its strategy of implementing mega projects, Prime Minister Manmohan Singh said here Saturday while addressing the country’s top policy forum.

“The state of infrastructure in the country is not good enough to achieve 9-10 percent growth over a sustained basis. We … Read the original article on Gaea Times at : State of infrastructure not good enough, need to do more: PM.

Inflation will come down to 6 percent: Manmohan Singh tells NDC

NEW DELHI – Prime Minister Dr. Manmohan Singh on Saturday said the inflation is expected to come down at six percent by the end of this year.

Addressing the 55th National Development Conference (NDC), Dr. Singh said: “The present high rate of inflation is mainly … Read : Inflation will come down to 6 percent: Manmohan Singh tells NDC.

Inflation will ease, country falling short of plan targets: PM

NEW DELHI – Prime Minister Manmohan Singh Saturday said a good monsoon this year will help overall inflation ease to 6 percent by the year-end, a figure more optimistic than the ones projected by his advisory council earlier.

He also said that as per the mid-term review of the 11th Five Year Plan (2007-12), the country …. Read the original article  : here.

Rangel political allies largely quiet as they weigh political fallout of ethics charges

Rangel ethics charges create headache for allies

NEW YORK – Friends and political allies of embattled Rep. Charlie Rangel are noticeably quiet after the disclosure that the 40-year House veteran and dean of the New York congressional delegation may face serious charges from a House ethics panel.
Rangel, 80, told reporters Friday that he looked forward to … Read this article on Gaea Times at : Rangel political allies largely quiet as they weigh political fallout of ethics charges.

Wipro achieves a quarterly profit of 31 percent

BANGALORE – Wipro, third-largest software provider has beaten expectations by posting a 31 percent rise in its quarterly profit.

“We had a strong quarter particularly in our after tax profit growth, our revenue grew by 16 percent and we …. Source  : Wipro achieves a quarterly profit of 31 percent.

Aziz Premji Upbeat About Wipro

BABGALORE, INDIA (GaeaTimes.com)- The new financial figures clearly indicate that the leading Indian MNCs which do a lot of outsourcing for UK and USA based clients are still recuperating from the sluggish economy. Wipro which is a leading outsourcing company based in India has added more employees in its portfolio compared to rivals like …. Original article  : Aziz Premji Upbeat About Wipro.

Targets not met, but current plan growth better than ever: PM

NEW DELHI – Prime Minister Manmohan Singh Saturday said though the country had fallen short of targets under the current five year plan, the overall projected average growth of 8.1 percent from 2007-12 was still better than in any other period.

“The mid-term appraisal projects the eleventh plan will achieve an annual average growth rate of …. Source  : Targets not met, but current plan growth better than ever: PM.

Delhi Metro orders 40 subway cars from Bombardier

TORONTO – Canada’s Bombardier Transportation has won orders to supply 40 MOVIA type subway cars to Delhi Metro Rail Corporation (DMRC) at a cost of $55 million.

Around 190 MOVIA cars are already being used by Delhi Metro.
The Montreal-based rail and aerospace giant said the order won Friday is in addition to 74 transit cars …. Original article  : Delhi Metro orders 40 subway cars from Bombardier.

North Korea threatens nuclear retaliation to US-South Korea military exercises

NKorea vows nuclear response to US-SKorea drills

SEOUL, South Korea – North Korea warned Saturday that joint U.S. and South Korean military exercises poised to begin this weekend amount to a military provocation that will draw a “powerful” nuclear response from Pyongyang.
North Korea routinely threatens war when South Korea and the U.S. hold joint military drills, … Read more : North Korea threatens nuclear retaliation to US-South Korea military exercises.

Mexico registers $312 mn trade surplus

Mexico City, July 24 (IANS/EFE) Mexico has registered a $312 million trade surplus in the first half of 2010, a big turnaround from the $1.2 billion deficit in the same period last year, the government said.

Mexican exports totalled $141.26 billion between Jan 1 and June 30, an increase of 36.3 percent over the first half [..] Read the original article: here.

US to grow 4 percent, unemployment to stay at 9 percent

WASHINGTON – Battling the worst recession in decades, the US government expects unemployment to stay at or above 9 percent until 2012 even as the economy grows by at least 4 percent in 2011 and 2012.

New projections contained in the administration’s Mid-Session Budget Review released by the White House Friday, also show the US National …. Source  : US to grow 4 percent, unemployment to stay at 9 percent.

World takes first steps toward treaty to regulate arms trade and prevent illicit transfers

First steps toward arms trade treaty
UNITED NATIONS – The world’s nations took the first steps at a conference that ended Friday toward a legally binding treaty that would try to regulate the multibillion dollar arms trade and prevent the transfer of weapons to armed groups fueling conflicts, terrorists and human rights violators.

When the conference began … Read : World takes first steps toward treaty to regulate arms trade and prevent illicit transfers.

50 percent Chinese buy luxury items online

BEIJING – Half of China’s urban residents say they prefer buying luxury items online and the major factor for drawing people to internet retailing is favourable prices over franchised stores.

The 2009 China Luxury Forecast also said about 78 percent of respondents in a survey said they would continue to maintain consumption of luxury goods in … Read : 50 percent Chinese buy luxury items online.

Attorney confirms that former pro cyclist Tyler Hamilton will appear before federal grand jury

Hamilton subpoenaed to appear before grand jury

NEW YORK – Former professional cyclist Tyler Hamilton has been subpoenaed to appear before a grand jury, though his attorney refused to say whether it has anything to do with a federal investigation involving Lance Armstrong.
Chris Manderson said that Hamilton, a former teammate of Armstrong on the U.S. Postal … Original source on Gaea Times at : Attorney confirms that former pro cyclist Tyler Hamilton will appear before federal grand jury.

Aloha, Mickey: Disney gives sneak peek of new Hawaiian resort ‘Aulani’

Disney gives sneak peek of new Hawaii resort

KAPOLEI, Hawaii – More than 80 years after Mickey Mouse piloted “Steamboat Willie” and whistled his way into the hearts of children across the world, he has finally reached the shores of Hawaii.
The Walt Disney Co. on Friday gave a peek of its sprawling, beachside Hawaiian resort that … Read more »»».

NKorea threatens powerful nuclear response to US-South Korea military exercises

NKorea vows powerful nuclear response to US-SKorea
HANOI, Vietnam – North Korea threatened Saturday to mount a powerful nuclear response to upcoming joint U.S.-South Korean military drills, calling the exercises an “unpardonable” provocation on top of wrongly blaming Pyongyang for the sinking of a South Korean warship.
North Korea’s powerful National Defense Commission, led by [..] Read the original article: here.

AP-US-Anti-Tax-Iconoclast

AP-US-Anti-Tax-Iconoclast
EDITORS:
Disregard BC-US–Anti-Tax Iconoclast. NewsNow. Will move on a later cycle.

The AP
…. Original source  : AP-US-Anti-Tax-Iconoclast.

Geithner says economy gradually getting better and that’s encouraging

Geithner says economy gradually getting better

WASHINGTON – Treasury Secretary Tim Geithner says the economy is “gradually getting better” and “that’s very encouraging.”
This comes after Federal Reserve Chairman Ben Bernanke told Congress earlier this week that the outlook for the country is “unusually uncertain.”
Geithner says he’s seeing “private investment expand again, job growth starting to come … Read the original article on Gaea Times at : Geithner says economy gradually getting better and that’s encouraging.

BP chief executive Tony Hayward to step down

LONDON – BP Plc chief executive Tony Hayward is to step down following intense criticism of his handling of the worst oil spill in US history, British Broadcasting Corporation reported Sunday.

His departure from the British oil giant could come into effect within 24 hours, the broadcaster said.
The spill in the Gulf of Mexico followed …. Source article on Gaea Times at  : BP chief executive Tony Hayward to step down.

BP chief executive to step down

LONDON – BP chief executive Tony Hayward is to step down, the BBC reported Sunday.

His departure from the company at the centre of the worst oil spill in US history could come into effect within 24 hours, the broadcaster said.
… Read the original article on Gaea Times at : BP chief executive to step down.

Small and medium firms’ business confidence rising: CII

NEW DELHI – The confidence of small and medium enterprises(SMEs)in India is on the rise with many firms recording higher sales and increased capacity utilisation, says a survey by the Confederation of Indian Industry (CII).

The overall business confidence index (BCI) compiled by CII for SMEs for the July-Sep 2010 stood at 65.6 on a scale …. Original source  : Small and medium firms’ business confidence rising: CII.

States wary of ‘one-size-fits-all’ central schemes

NEW DELHI – An increasing number of states today are growing restive about the central government’s increasing tendency to impose its schemes on them irrespective of their efficacy and feel the “one-size-fits-all” approach no longer works for them.

The resentment was highlighted during the 55th National Developmental Council (NDC) meet here Saturday, which was chaired by … Read this article on Gaea Times at : States wary of ‘one-size-fits-all’ central schemes.

Himachal wants to re-allot hydro-power project to Brakel

SHIMLA – The Himachal Pradesh government wants to re-allot a multi-million dollar hydropower project that is under litigation to the Netherlands-based Brakel Corp.

The government filed an affidavit in the Supreme Court last week, saying the it did not want to cancel the project allotted to Brakel “as it’s in the state’s interest”, authorities here said … Read this article on Gaea Times at : Himachal wants to re-allot hydro-power project to Brakel.

Foxconn India plant shut down following toxic gas leak

CHENNAI – Mobile phone accessory maker Foxconn India’s plant at Sunguvarchatram, around 45 km from here, has been shut down following a gas leak late Friday.

The Tamil Nadu government has ordered the closure of the plant till all safety aspects are checked and cleared by authorities concerned.
The decision came after 37 workers were admitted …. Source article on Gaea Times at  : Foxconn India plant shut down following toxic gas leak.

Reid rebounds against Angle, but Dems worry Nevada’s poor economy could drag him down

Reid rebounds but still faces uncertain future

HENDERSON, Nev. – Senate Democratic leader Harry Reid’s chances for six more years in Washington may be like tossing dice in a casino, even if he has made headway against Republican challenger Sharron Angle in a state with the nation’s highest rate of joblessness.
The four-term Reid holds a slight … Read more : Reid rebounds against Angle, but Dems worry Nevada’s poor economy could drag him down.

Dems worry Nevada’s economic woes will undercut Reid despite his rebound against Angle

Dems fear economic impact on Reid despite rebound

HENDERSON, Nev. – Senate Democratic leader Harry Reid of Nevada holds a slim lead over his Republican opponent in the latest polling.
That’s due in part to Sharron Angle’s unsteady performance since winning the June GOP primary and to Democratic ads portraying her as an extremist.
But an internal memo …. Read the original article  : Dems worry Nevada’s economic woes will undercut Reid despite his rebound against Angle.

Briton lands job standing with placard in rain

LONDON – A jobless Briton who stood for hours in pouring rain with a placard saying “please give me a job” was surprised when a passing businessman offered him one on the spot.

Mark Wheeldon, 23, a resident of Newcastle-under-Lyme, 217 km from London, had failed to find employment after spending the past two years caring … Read this article on Gaea Times at : Briton lands job standing with placard in rain.

Indian Bank seeks partners for merchant banking and MF business

CHENNAI – Indian Bank is in the process of inducting partners for its merchant banking and mutual fund arms and merging the housing finance outfit with itself, a top official of the public sector lender said.

“We are talking to both- foreign and domestic- parties to join hands with us for the merchant banking and mutual … Original article on : Indian Bank seeks partners for merchant banking and MF business.

Why India’s $35 computer joke isn’t funny (Comment)

Here we go again! India’s Human Resource Development Minister Kapil Sibal has “launched” a $35 computer, evidently a “dream project” of his. The touch-screen, Linux-based device looks iPad-inspired, but we know little about how it works.

It emerged from a student project with a bill of material adding up to $47, a price that the minister … Read : Why India’s $35 computer joke isn’t funny (Comment).

Smelly carton triggers scare at Kochi airport

KOCHI – There was some chaos and scare at Kerala’s Kochi Airport Sunday when cargo loaders detected a loosely packed carton containing chemicals with a foul smell emanating from it.

The men loading cargo on to the Kingfisher IT 2482 flight from here to Chennai detected the carton.
“They found a packet with foul smell. It …. Original article on Gaea Times at  : Smelly carton triggers scare at Kochi airport.

Media migration costs California 36,000 jobs

LOS ANGELES – Migration of film and television production units from California to other places has cost jobs of over 36,000 people and a loss of around $2.4 billion in wages over the last decade.

The Milken Institute, an American non-profit economic think tank, attributes the job losses to the flight of movies and television …. Read the original article  : Media migration costs California 36,000 jobs.

Employees’ rude behaviour affects consumers

LOS ANGELES – Rude behaviour among employees can negatively affect consumer perceptions – even when the incivility isn’t directed at the customer.

Across a range of places, including restaurants, banks, government offices, retail stores and universities, consumers frequently report seeing employees behaving badly with other employees.
The bad behaviour also include derogatory comments or inappropriate gestures, [..] Read the original article: here.

Clinton opens new chapter in curious history of mango diplomacy in South Asia

Clinton adds to curious history of mango diplomacy

ISLAMABAD – When U.S. Secretary of State Hillary Rodham Clinton offered Pakistan help last week in exporting mangoes to the U.S. in a bid to dampen anti-American sentiment, it marked the latest chapter in the fruit’s curious history of diplomacy and intrigue.
Clinton’s offer came three years after the …. Read the original article  : Clinton opens new chapter in curious history of mango diplomacy in South Asia.

Pfizer and Eisai say FDA approves bigger dose of Aricept drug for Alzheimer’s disease

FDA approves larger dose of Pfizer’s Aricept

NEW YORK – Drugmakers Eisai Inc. and Pfizer Inc. said on Saturday that government regulators have given them permission to make a larger dose of its Alzheimer’s disease drug Aricept for patients who have already been taking the smaller dose.
Aricept is the version of the drug donepezil, and is … Original source on Gaea Times at : Pfizer and Eisai say FDA approves bigger dose of Aricept drug for Alzheimer’s disease.

Summary Box: Gadget makers forced to check whether metals come from war-torn Congo

Summary Box: Companies forced to check Congo links

THE REQUIREMENTS: A new law requires companies to check whether their products contain minerals from rebel-controlled mines in Congo and surrounding countries.
LABELING: Products can be labeled as “conflict free” if their makers can prove they don’t contain minerals that directly or indirectly finance or benefit armed groups in …. Original article on Gaea Times at  : Summary Box: Gadget makers forced to check whether metals come from war-torn Congo.

Dez Bryant ‘before time’ for start of Cowboys training camp, first player on field

Dez Bryant 1st player on field for Cowboys camp

SAN ANTONIO – Dez Bryant was more than on time for the start of the Dallas Cowboys training camp. The first-round pick was the first player on the field Saturday.
“I’m just ready to play, that’s the message,” Bryant said. “I’m ready to do whatever they ask me …. Original article  : Dez Bryant ‘before time’ for start of Cowboys training camp, first player on field.

2 US Navy service members missing in eastern Afghanistan

2 US Navy service members missing in Afghanistan
KABUL, Afghanistan – Two U.S. Navy service members disappeared in a dangerous area of eastern Afghanistan, prompting a massive air and ground search and appeals on local radio stations for their safe return, NATO and Afghan officials said.
The two left their compound … Read this article on Gaea Times at : 2 US Navy service members missing in eastern Afghanistan.

Documents detail $4.3B in Goldman Sachs payouts after government’s bailout of AIG

Documents detail $4.3B in Goldman Sachs payouts

International banks and financial companies were indirect beneficiaries of the government’s 2008 bailout of American International Group Inc., according to newly released documents.
The documents released by Sen. Chuck Grassley, R-Iowa, contain a list of the 27 banks, hedge funds and financial companies that received $4.3 billion from Goldman Sachs …. Source article  : Documents detail $4.3B in Goldman Sachs payouts after government’s bailout of AIG.

Britain’s ousted ex-chief Gordon Brown to publish insider account of global financial crisis

UK’s ousted Brown writing book on financial crisis

LONDON – Former British Prime Minister Gordon Brown is publishing an insider account of the global financial crisis, his first book since being ousted from office.
Brown, who lost a national election in May after almost three years as U.K. chief, will set out the measures the legislator believes … Read this article on Gaea Times at : Britain’s ousted ex-chief Gordon Brown to publish insider account of global financial crisis.

Roto-Rooter Launches Coupons for Plumbing Services

LOS ANGELES (Gaeatimes.com) — Are you worried about your irregular plumbing services at your home? Then Roto-Rooter is the solution. Roto-Rooter is a company wholly dedicated for plumbing services and cleaning sewers in drainage lines.
Roto-Rooter provides the following services:

Complete plumbing services
24 hours emergency services
Available 7days a week

Recently, Roto-Rooter has launched a coupon service at your … Original source on Gaea Times at : Roto-Rooter Launches Coupons for Plumbing Services.

Sensex trades lower, Asian markets positive

MUMBAI – A benchmark index for Indian equities was trading lower Monday afternoon despite positive Asian markets.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,056.24 points, was ruling at 18,071.5 points, 59.48 points or 0.33 percent down from its previous close at 18,130.98 points.
At …. Source  : Gaea News Network.

Pearson 1st half profit more than trebles to 92 million pounds ($142 million)

Pearson H1 profit more than trebles
LONDON – Pearson PLC said Monday that first half profit more than trebled to 92 million pounds ($142 million), beating market forecasts and boosting the full year outlook, as revenue rose at the Financial Times, Penguin Books and educational publications.

The net profit rose from 28 million pounds in the first … Original source on Gaea Times at : Pearson 1st half profit more than trebles to 92 million pounds ($142 million).

Goa mulling setting up a maritime board

PANAJI – The Goa government is mulling to set up a state maritime board to attract investment, easing the process of privatization of ports or designated areas within ports.

“Maritime boards can attract private capital and private participation easily. The board will also have the power to raise funds as well as loans on its own … Read more : Goa mulling setting up a maritime board.

Obama’s message to voters: Stick with Democrats, otherwise things could get worse under GOP

Obama’s message to voters: Things could be worse
WASHINGTON – President Barack Obama, who rocketed to the White House promising “change you can believe in,” is now telling voters they shouldn’t change a thing.
His message for the fall elections, which are looking ominous for his Democrats, is that Republicans caused the nation’s [..] Read the original article: here.

BP says ‘no final decision’ has been made on replacing Tony Hayward as chief executive

BP says ‘no final decision’ on replacing Hayward
LONDON – BP PLC said Monday that “no final decision” has been made about management changes, which reportedly include the departure of Tony Hayward as chief executive in an effort to mend the company’s image after the Gulf of Mexico oil spill.
The oil company said its … Original source on Gaea Times at : BP says ‘no final decision’ has been made on replacing Tony Hayward as chief executive.

In election-year twist, Murray defends steering dollars to state amid GOP criticism

GOP puts Murray on defensive for federal projects
OLYMPIA, Wash. – Delivering dollars for Washington state is a point of pride for Democratic Sen. Patty Murray, whose efforts have helped her comfortably win re-election twice. Republicans insist that this November, it will be her downfall.
The GOP is looking to tap into voter angst over …. Source  : In election-year twist, Murray defends steering dollars to state amid GOP criticism.

Heavy rains hit life in Chhattisgarh, six killed

RAIPUR – At least six people have been killed in incessant rains in Chhattisgarh where road and rail services continue to be hit, officials said Monday.

The state has been witnessing heavy rains since Saturday because of low pressure area over Orissa.
Several key roads, including National Highway 221, have been blocked in Dantewada district …. Read the original article  : Heavy rains hit life in Chhattisgarh, six killed.

Rs.6.6 lakh corruption in scheme for Bihar moms

PATNA – A woman, as everyone knows, usually gives birth to a baby after nine months of pregnancy, but in Bihar 298 women claim to have delivered two to five children in a span of 60 days – at least that’s what records of incentives amount given to new mothers under a government scheme show.

A … Original article on : Rs.6.6 lakh corruption in scheme for Bihar moms.

Oil rises above $79 in Asia as strong US corporate earnings boost investor optimism

Oil rises above $79 as stocks extend rally

SINGAPORE – Oil prices rose above $79 a barrel Monday in Asia as regional stock markets extended a rally from last week amid improving investor optimism.
Benchmark crude for September delivery was up 30 cents at $79.28 a barrel at midday Singapore time in electronic trading on the New …. Source article on Gaea Times at  : Oil rises above $79 in Asia as strong US corporate earnings boost investor optimism.

Money Market Operations as on July 23, 2010

…. Read the original article  : Money Market Operations as on July 23, 2010.

Asian stocks rise on better-than-expected results of Europe’s bank ’stress tests’

Asian stocks up on results of Europe’s bank tests

BANGKOK – Asian stock markets posted moderate gains Monday following reassuring news that most European banks passed much-anticipated “stress tests,” suggesting the continent’s banking system is strong enough to weather a massive debt crisis.
Oil prices hovered above $79 a barrel as regional stock markets extended a rally …. Source article  : Asian stocks rise on better-than-expected results of Europe’s bank ’stress tests’.

Protesting Indians block workers at construction site of hydroelectric plant in Amazon

Brazil Indians block workers at hydroelectric site

SAO PAULO – About 300 Amazon Indians prevented workers from entering or leaving the construction site of a hydroelectric plant that protesters say is on an ancient burial ground, Brazil’s official news agency said Sunday.
Indians from eight tribes taking part in the protest are demanding compensation for losses caused …. Original source  : Protesting Indians block workers at construction site of hydroelectric plant in Amazon.

Disgraced cyclist Landis leaves Oregon event before finishing the final stage

Landis quietly leaves Oregon cycling event

BEND, Ore. – While Lance Armstrong’s legacy was celebrated in his final Tour de France, disgraced former winner Floyd Landis quietly ducked out of a race in central Oregon.
Landis was stripped of his 2006 Tour de France title for doping and admitted this spring to using drugs to gain a … Read this article on Gaea Times at : Disgraced cyclist Landis leaves Oregon event before finishing the final stage.

Japan’s June exports climb 27.7 percent from year earlier, seventh month of increases

Japan’s exports rise for seventh straight month

TOKYO – Japan’s exports rose for the seventh straight month in June, driven by machinery and steel products, indicating that overseas demand continues to underpin recovery in the world’s No. 2 economy even amid a stronger yen.
Exports climbed 27.7 percent from a year earlier to 5.87 trillion yen ($67.2 … Read more >>.

SKorea’s 2nd-quarter economic growth slows to 1.5 percent on construction, government spending

SKorea’s economy grows 1.5 percent in 2nd quarter

SEOUL, South Korea – South Korea’s economic growth slowed in the second quarter of 2010 despite gains in exports, manufacturing and capital outlays as construction contracted and government spending and services weakened.
Gross domestic product expanded 1.5 percent in the three months ended June 30, compared with the first …. Original source  : SKorea’s 2nd-quarter economic growth slows to 1.5 percent on construction, government spending.

An timeline of events spanning Tony Hayward’s career with BP

A look at Tony Hayward’s tenure with BP
Here’s a look at Tony Hayward’s tenure with BP:
1982: Hayward joins the company as a rig geologist in the North Sea.
March 23, 2005: An explosion at a BP refinery in Texas City kills 15 people and injures 170.
March 2006: More than 200,000 gallons of …. Source article on Gaea Times at  : An timeline of events spanning Tony Hayward’s career with BP.

Conference USA returns to traditional media day for league still intact after realignment

C-USA back to personal touch after going to video

MEMPHIS, Tenn. – Conference USA is back to using the personal touch.
A year after switching to video as a cost-saving move for the league’s annual football media day, 11 of Conference USA’s 12 coaches gathered Sunday in Memphis to preview the upcoming season. All 12 remain in … Read this article on Gaea Times at : Conference USA returns to traditional media day for league still intact after realignment.

South Korea’s economic growth slows to 1.5 percent in second quarter as services weakened

SKorea’s economic growth slows in 2nd quarter

SEOUL, South Korea – South Korea’s central bank says economic growth slowed in the second quarter of 2010 despite gains in exports, manufacturing and capital outlays as construction and services weakened.
The Bank of Korea said Monday that gross domestic product expanded 1.5 percent in the three months ended June …. Original article on Gaea Times at  : South Korea’s economic growth slows to 1.5 percent in second quarter as services weakened.

Taiwan to help Russia build world’s largest aquarium

TAIPEI – A Taiwan company has won a contract to design the world’s largest aquarium in Russia’s Vladivostok city, the company said Tuesday.

The Huangs Green Country Industrial Co Ltd won the bid on the project that is part of Vladivostok’s preparation for hosting the 2012 Asia-Pacific Economic Cooperation (APEC) summit, it said.
“The indoor area …. Original source  : Taiwan to help Russia build world’s largest aquarium.

DuPont says 2nd quarter profit almost tripled as sales recover; raises 2010 outlook

DuPont 2Q profit climbs as sales jump, costs fall

NEW YORK – Chemical maker DuPont Co. says its profit nearly tripled in the second quarter as sales surged in most of its businesses, and costs decreased.
DuPont says its profit rose to $1.16 billion, or $1.26 per share. That’s up from $417 million, or 46 cents per …. Original source  : DuPont says 2nd quarter profit almost tripled as sales recover; raises 2010 outlook.

Nathpa Jhakri plant shut, disrupts power supply in North

SHIMLA – The country’s largest hydropower plant in Himachal Pradesh remained shut for the second day Tuesday, disrupting power supply to northern states, including Delhi.

“The 1,500-MW hydropower plant was temporarily closed yesterday (Monday) as the silt content in the river (on which the project is located) suddenly rose more than the permissible limit. The generation … Read : Nathpa Jhakri plant shut, disrupts power supply in North.

First Quarter Review of Monetary Policy 2010-11: Press Statement by Dr. D. Subbarao, Governor

"This morning, the Reserve Bank released the First Quarter Review of Monetary Policy for 2010-11 at a meeting of the chief executives of major banks. The important decisions contained in the review were to raise the repo rate from 5.5 per cent to 5.75 per cent and the reverse … Read : First Quarter Review of Monetary Policy 2010-11: Press Statement by Dr. D. Subbarao, Governor.

RBI raises repo rate by 25 bps, reverse repo by 50 bps

MUMBAI – The Reserve Bank of India (RBI) on Tuesday raised short term lending or repo rate by 0.25 percentage points. It will be now 5.75 per cent.

The short-term borrowing or reverse repo rate has been hiked by 0.50 percentage point to 4.50 per cent.

The cash reserve ratio or CRR and bank rate …. Source article on Gaea Times at  : RBI raises repo rate by 25 bps, reverse repo by 50 bps.

India, UAE discuss bilateral trade

ABU DHABI – India’s Ambassador to the United Arab Emirates (UAE) M.K. Lokesh and the director general of UAE’s ministry of foreign trade, Abdullah Ahmed Al Saleh, met here to discuss issues related to bilateral trade.

The Indian envoy was told Monday that the UAE is keen to bolster its trade cooperation with India, as it …. Source  : Gaea News Network.

Germany’s Daimler reports 2nd-quarter profit of nearly $1.7 billion, raises full-year outlook

Daimler raises earnings outlook after Q2 profit

BERLIN – Car maker Daimler AG say it made a second-quarter profit of euro1.3 billion (nearly $1.7 billion) and has raised its full-year outlook substantially.
The April-June earnings figure contrasted with a loss of nearly euro1.1 billion a year earlier.
Daimler said Tuesday it is now targeting full-year earnings before interest …. Original source  : Germany’s Daimler reports 2nd-quarter profit of nearly $1.7 billion, raises full-year outlook.

Government rules out rolling back fuel price hike

NEW DELHI – The government Tuesday ruled out rolling back the hike in fuel prices, junking the demand for such a measure by the opposition which disrupted proceedings in both houses of parliament.

“Why should the government pay Rs.5,000 crore per quarter for the petrol being used in anyone’s car?” Petroleum Minister Murli Deora asked … Read : Government rules out rolling back fuel price hike.

European markets higher on Deutsche Bank earns, German data, while euro tests $1.30 once again

Upbeat German news lifts European markets
LONDON – European stock markets mostly rose Tuesday as investors warmed to another batch of better than expected earnings and economic data from Germany, while the euro pushed briefly above the $1.30 mark once again.

In Europe, the FTSE 100 index of leading British shares was up 40.25 points, or 0.8 … Read more : European markets higher on Deutsche Bank earns, German data, while euro tests $1.30 once again.

Ride The Stock Market with Anirudh Sethi

BARODA,INDIA (GaeaTimes.com) — Anirudh Sethi, an experienced stock broker has adopted a novel approach to educate people about trading psychology. His series of lectures on the stock market are quite popular on You Tube. The videos start from the basic level of stock broking to thorough analysis of the market as it happens.
An avid follower … Original article on : Ride The Stock Market with Anirudh Sethi.

Greenpeace shuts down 50 BP petrol stations

LONDON – Greenpeace activists protesting British Petroleum’s (BP) “reckless” oil pursuit, shut down 50 petrol filling stations in central London Tuesday morning.

The environmentalists claimed to have stopped the fuel supply by flipping safety switches on the forecourts and then removing them to prevent the petrol stations from reopening. They also hoisted signs saying: “Closed. …. Read the original article  : Greenpeace shuts down 50 BP petrol stations.

Bountiful Baskets Offers Fresh Fruits & Vegetables at Cheap Price

MESA (GaeaTimes.com) – Bountiful Baskets is a non-profit oraganisation which aims to deliver baskets of fruits and vegetables to people across seven countries at a very low price.
Bountiful Baskets was founded by two friends, Sally Stevens and Tanya Jolly in Mesa. It sells one basket of fresh fruits and another basket of fresh vegetables … Read more »».

Google cuts ties with Chinese advertisers

BEIJING – Google Inc has cut commercial ties with two of its Chinese advertising agents, raising concerns that the internet giant’s recent standoff with the government may scare away more domestic advertisers.

The search engine ended partnerships Monday with the Universal Internet Media and the Xi’an Weihua Network, major advertising agents for Google in east and …. Read the original article  : Google cuts ties with Chinese advertisers.

RBI will now review monetary policy mid-quarter

MUMBAI – The Reserve Bank of India (RBI) Tuesday said it would update the monetary policy about 45 days after the quarterly review to respond faster to changing domestic and international economic scenarios.

The apex bank said such formal mid-cycle announcements would take out the surprise element emanating from an off-cycle rate decision as was the …. Original source  : RBI will now review monetary policy mid-quarter.

BP announces Hayward’s departure, reports $17 mn quarterly loss

LONDON – Oil giant BP Tuesday announced a record quarterly loss of $17.1 billion as a direct result of the Gulf of Mexico oil spill and said its embattled chief executive, Tony Hayward, would be leaving the company on Oct 1.

The 53-year-old’s departure follows intense criticism of his handling of the catastrophic spill caused by … Read more : BP announces Hayward’s departure, reports $17 mn quarterly loss.

UBS posts Q2 profit of $1.9 billion, expects all tax matters with US to be resolved by October

UBS posts second-quarter profit of $1.9 billion

GENEVA – Swiss bank UBS AG offered evidence of its recovery Tuesday with stronger-than-expected second-quarter profits of 2 billion Swiss francs ($1.9 billion), and said it should resolve all tax matters with the U.S. government by October.
The Zurich bank’s results compared with a 1.4 billion-franc loss in the second …. Source  : Gaea News Network.

Delhi’s Terminal 3 set for commercial operations from Wednesday

NEW DELHI – The stage is set for commercial fight operations at India’s Swankiest and largest terminal at the Indira Gandhi International airport here, with state-run Air India’s AI-102 from New York scheduled to land at 4.45 p.m. Wednesday.

Jet Airways will have the distinction of being the first private carrier to bring its passengers through … Read more >>.

DMRC Planning For New Rakes

NEW DELHI, INDIA (GaeaTimes.com)- Those who are tired of the crowd in the metro of Delhi have reasons to rejoice. The DMRC or Delhi Metro Rail Corporation has placed an order for as many as 40 coaches. The new coaches will be used to increase the capacity of the existing trains. The 4 …. Original article  : DMRC Planning For New Rakes.

Danone raises 2010 sales target after posting 10 percent rise in 1st half earnings

Danone posts 10 pct gain in 1st half net profit

PARIS – Danone SA said Tuesday sales of its yogurts, bottled water and baby foods would grow faster than expected this year as strong demand in Asia and developing countries helped its first half earnings rise 10 percent.
The French food company behind Evian water and Activia … Read more >>>.

Economic recovery, World Cup and good weather boost German consumer confidence

German consumer confidence up strongly
BERLIN – German consumer confidence is up strongly, boosted by expectations that a quicker economic recovery will keep unemployment in check and by cheer over the football World Cup and sunny weather, a survey showed Tuesday.

Germany’s GfK institute said its forward-looking overall indicator for August rose to 3.9 points from 3.6 … Read the original article on Gaea Times at : Economic recovery, World Cup and good weather boost German consumer confidence.

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.

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.

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.

Pilots quit Philippine Airlines for higher-paying jobs

MANILA – The Philippines’ flag carrier Saturday cancelled about a dozen domestic and international flights after several pilots resigned for higher-paying jobs with foreign airlines.

Dozens of flights were also delayed for hours due to the lack of pilots, according to Philippine Airlines (PAL).
PAL spokesman Jonathan Gesmundo said the problem affected flights using Airbus A320 … Read the original article on Gaea Times at : Pilots quit Philippine Airlines for higher-paying jobs.

Madhya Pradesh to add 5,486 MW power by 2014

BHOPAL – Power-starved Madhya Pradesh will add 5,486 MW power by 2013-14 with several under-construction thermal power projects to be commissioned by then, an official said Saturday.

“Madhya Pradesh is striving hard to get over the power crisis with several coal-fired under-construction projects, including the 1,200 MW Malwa thermal power project, set to be commissioned by … Read more : Madhya Pradesh to add 5,486 MW power by 2014.

NALCO floats tender to buy two lakh tonne coal

BHUBANESWAR – The state-owned National Aluminium Co. Ltd. (NALCO) has floated a tender to buy 200,000 tonnes washed coal for its captive power plant in Orissa’s Angul town, a company official said Saturday.

The company will buy the coal from the domestic market, he said, adding that the last date for submission of bids is Aug … Original source on Gaea Times at : NALCO floats tender to buy two lakh tonne coal.

Fears of second recession in US loom

WASHINGTON – Fears of another recession in the United States loomed as the government reported slower growth in the second quarter and the International Monetary Fund said the country’s financial system remains fragile.

The US economy continued to grow during the second quarter with the gross domestic product (GDP) rising at a slower than expected 2.4 …. Source  : Gaea News Network.

Bill and Hillary Clinton emerge on eve of daughter Chelsea’s nuptials in upstate NY village

Clintons emerge in NY on eve of Chelsea’s wedding
RHINEBECK, N.Y. – Bill Clinton made a long-anticipated appearance in the upstate New York village where his daughter is getting married, drawing crowds of onlookers Friday afternoon as preparations continued largely out of sight for the grand and secretive occasion.
In the evening, hundreds of people …. Source article on Gaea Times at  : Bill and Hillary Clinton emerge on eve of daughter Chelsea’s nuptials in upstate NY village.

Poor facilities washing away Cherrapunjee’s tourism prospects

CHERRAPUNJEE – Dotted with waterfalls cascading over deep gorges, this town – renamed Sohra – is famous the world over as the wettest place on earth due to its magical rains. But lack of facilities have prompted some to dub it as a “third class tourist destination”.

“Cherrapunjee is a third class tourist destination. I feel …. Original article on Gaea Times at  : Poor facilities washing away Cherrapunjee’s tourism prospects.

Apple invades BlackBerry territory with iPhone 4

TORONTO – Apple invaded BlackBerry territory Friday with the launch of its iPhone 4 across Canada. Frenzied Canadians lined up in front of Apple stores and other authorized retailers from Toronto to Halifax to Vancouver almost 24 hours before the delivery of the smartphone started in Canada.

“It feels great in my hands. I am so …. Original source  : Apple invades BlackBerry territory with iPhone 4.

Bank Of Baroda On A High

MUMBAI, INDIA (GaeaTimes.com)- One of the largest public sector banks of India, Bank Of Baroda finished its June quarter this year with steep loan growth and improved asset quality, ahead of its closest competitors like Union Bank of India and Punjab National Bank. It is in fact coming close to the Punjab National … Read the original article on Gaea Times at : Bank Of Baroda On A High.

TransCanada gets ‘multiple bids’ from entities interested in Alaska line to ship natural gas

TransCanada: ‘Multiple bids’ for Alaska gas line
JUNEAU, Alaska – TransCanada Corp. has received multiple bids from “major industry players and others” that want to use its proposed pipeline to transport natural gas from Alaska’s North Slope to market, a company official said Friday.
As expected, few details were released Friday, when TransCanada … Read the original article on Gaea Times at : TransCanada gets ‘multiple bids’ from entities interested in Alaska line to ship natural gas.

Regulators shut down banks in Fla., Ga., Ore., Wash.; makes 108 US bank failures this year

Regulators close banks in Fla., Ga., Ore., Wash.

WASHINGTON – Regulators on Friday shut banks in Florida, Georgia, Oregon and Washington, lifting to 108 the number of U.S. banks to fail this year as the industry has struggled to cope with mounting loan defaults and recession.
The Federal Deposit Insurance Corp. took over the banks: Bayside Savings … Read more : Regulators shut down banks in Fla., Ga., Ore., Wash.; makes 108 US bank failures this year.

Regulators shut down banks in Florida, Georgia, Wash.; makes 107 US bank failures this year

Regulators close banks in Fla., Ga., Wash.

WASHINGTON – Regulators have shut banks in Florida, Georgia and Washington, lifting to 107 the number of U.S. banks to fail this year as the industry has struggled to cope with mounting loan defaults and recession.
The Federal Deposit Insurance Corp. took over the banks: Bayside Savings Bank in Port … Read the original article on Gaea Times at : Regulators shut down banks in Florida, Georgia, Wash.; makes 107 US bank failures this year.

India, US sign nuclear reprocessing deal

WASHINGTON – India and the United States have signed an agreement on the nuclear fuel reprocessing arrangements under the India-US civil nuclear deal completing another key step in implementing the landmark accord.

The agreement signed by Indian ambassador to the US Meera Shankar and the US Secretary of State at the State Department Friday will enable … Read more >>.

Mass. House, Senate leaders agree to compromise on casino bill; Gov. Patrick threatens veto

Mass. legislative leaders OK deal on casino bill

BOSTON – Massachusetts House and Senate leaders agreed Friday to the state’s most sweeping expansion of gambling in four decades – drawing immediate criticism from Gov. Deval Patrick, who said he can’t sign the bill.
The bill would authorize three casinos and two slot machine parlors, the latter of … Read more >>>.

Tax study default leaves Nevada lawmakers upset, angry, as state faces huge deficit

Tax study default leaves Nevada lawmakers upset

CARSON CITY, Nev. – State lawmakers expressed frustration and anger Friday after an international research firm defaulted on a tax study, leaving legislators without an updated playbook as they face a budget deficit that could top $3 billion going into the 2011 session.
“It’s hard for me to understand how …. Original source  : Tax study default leaves Nevada lawmakers upset, angry, as state faces huge deficit.

Girl injured falling 40 feet to ground when safety net fails at Wis. amusement park attraction

12-year-old girl injured on Wis. ‘free fall’ ride

MADISON, Wis. – Police say a safety net under a “free fall” attraction at a popular Wisconsin amusement park failed to catch a 12-year-old girl who plunged more than 40 feet before hitting the ground.
The girl was seriously injured in the Friday fall at the Wisconsin Dells and …. Source article  : Girl injured falling 40 feet to ground when safety net fails at Wis. amusement park attraction.

PricewaterhouseCoopers laying off 500 technology workers, primarily in Fla.

PricewaterhouseCoopers laying off 500 employees

TAMPA, Fla. – PricewaterhouseCoopers is laying off about 500 in-house information technology employees – most from its offices in Tampa.
The company says the cuts are part of a larger effort to better coordinate IT services in the United States and United Kingdom. The layoffs will slash the ranks of PWC’s IT …. Source  : PricewaterhouseCoopers laying off 500 technology workers, primarily in Fla..

Autopsy: Pittsburgh-area sewage plant worker died of injuries suffered in fall, not fumes

Autopsy: Pittsburgh-area plant worker died of fall

SEWICKLEY, Pa. – Authorities say a worker apparently overcome by fumes at a western Pennsylvania sewage plant died from injuries suffered in a subsequent fall, not toxic gas.
The Allegheny County medical examiner’s office ruled Friday that 31-year-old Jack Hogan III of Baden died of blunt force trauma. The death … Read more »»».

Lawsuit blames NY Mets owners for letting workers put retirement money in Madoff investments

Suit blames Mets owners for Madoff-related losses

NEW YORK – A new lawsuit blames the owners of the New York Mets for letting workers put more than $16 million in 401(k) assets into accounts controlled by jailed financier Bernard Madoff.
The lawsuit was filed in federal court in Manhattan on Friday. It was brought by the wife … Read more : Lawsuit blames NY Mets owners for letting workers put retirement money in Madoff investments.

Titans open camp with CJ happy, VY unpunished, coaching staff reshuffled after busy offseason

Titans eager for camp after hectic offseason

NASHVILLE, Tenn. – It’s time for Jeff Fisher to open his 16th straight training camp with the Tennessee Titans, and that first practice Saturday will be a welcome return to football after a busy offseason.
Fisher expects Chris Johnson to show up, happy the Titans reshuffled some money to pay … Read more : Titans open camp with CJ happy, VY unpunished, coaching staff reshuffled after busy offseason.

Regulators shut down 2 Florida banks, 1 in Georgia; makes 106 US bank failures this year

Regulators close 3 banks in Florida, Georgia

WASHINGTON – Regulators on Friday shut two banks in Florida and one in Georgia, lifting to 106 the number of U.S. banks to fail this year as the industry has struggled to cope with mounting loan defaults and recession.
The Federal Deposit Insurance Corp. took over the banks: Bayside Savings … Read more >>>.