Asian shares rise early following big gains in US on economic news; European markets down

Asia stocks gain on economy news; Europe down

BANGKOK – Asian stock markets mostly climbed Tuesday after Wall Street opened August with a strong rally on positive economic indicators from around the globe. European shares were lower.
Oil prices hovered above $81 a barrel to near a three-month high as improved sentiment in stock markets boosted crude.
As … Read this article on Gaea Times at : Asian shares rise early following big gains in US on economic news; European markets down.

Chinese billionaires own 200 jets

BEIJING – Nearly 200 planes in China are owned by billionaires even though the country’s low-altitude airspace is banned for private flying, a media report said Tuesday.

Low-altitude flying is under strict control of the Civil Aviation Administration and the Air Force, and any operation of such aircraft needs approval from government.
But the complexity of … Read more >>>.

Bangladeshi firm to set up food processing units in India

AGARTALA – PRAN Group, a Bangladeshi food processing and manufacturing firm, will set up agro and food processing plants in Tripura, Orissa and Tamil Nadu, a company official said here Tuesday.

“Setting up of an agro and food processing joint venture plant with Indian entrepreneurs in Agartala is now in an advanced stage,” said Ahsan Khan … Read more >>.

Automaker BMW’s net earnings surge to $1.1 billion in 2nd quarter as sales rise strongly

BMW’s 2nd-quarter earnings up sharply
BERLIN – Second-quarter earnings at luxury car maker BMW AG surged to ???834 million ($1.1 billion) as robust demand in China helped drive a strong increase in revenues, the company said Tuesday.

The company’s April-June profit was up from ???121 million a year earlier, while revenues climbed 18.3 percent to ???15.35 billion …. Source article  : Automaker BMW’s net earnings surge to $1.1 billion in 2nd quarter as sales rise strongly.

Sam Bradford’s deal with Rams highlights inbalance in NFL salaries without rookie cap

Rookie cap could bring balance to NFL salaries

Sam Bradford is coming off of shoulder surgery, and has never taken a snap in the NFL. Yet the No. 1 draft pick managed to get the St. Louis Rams to guarantee him $50 million and a possible $78 million over six years.
Tom Brady hasn’t had as much … Read more >>>.

Medical equipment fair in Chennai starts Aug 6

CHENNAI – About 400 medical equipment manufacturers, including 20 from China, Taiwan, Germany and Britain, are expected to showcase their products at the Medicall expo beginning here Aug 6.

“The focus of the current year’s exhibition is on rehabilitation equipment for differently abled persons. Equipments like power wheel chairs, artificial limbs, electric scooters, patient lifting …. Original article  : Medical equipment fair in Chennai starts Aug 6.

New York mayor names Indian American for pension oversight

WASHINGTON – Concerned over New York’s spiralling pension costs, Mayor Michael Bloomberg has tapped Ranji Nagaswami, an Indian American finance expert, as the city’s first ever chief investment adviser.

Nagaswami will be the “full-time, central advisor to the Mayor’s trustees on the five New York City retirement system boards and the New York City Deferred Compensation …. Source  : Gaea News Network.

Oil hovers above $81 in Asia after stocks, dollar fuel jump to 3-month high

Oil hovers above $81 after surging to 3-month high

SINGAPORE – Oil prices hovered above $81 a barrel Tuesday in Asia after surging stock markets and a weaker dollar helped boost crude to nearly a three-month high.
Benchmark crude for September delivery was up 5 cents to $81.39 a barrel at late afternoon Singapore time in electronic …. Source  : Oil hovers above $81 in Asia after stocks, dollar fuel jump to 3-month high.

Sushma attacks government in Lok Sabha on price rise

NEW DELHI – Bharatiya Janata Party (BJP) MP and Leader of Opposition Sushma Swaraj Tuesday launched a scathing attack on the government on the price rise issue, stating that its policies had hit the people the hardest.

“Everybody in society is lamenting that they are being hit hard by the price rise,” Swaraj said while starting … Read : Sushma attacks government in Lok Sabha on price rise.

State media says China’s military in major air exercises underscoring growing sophistication

China military launches major air exercises

BEIJING – China’s military launched major air defense exercises Tuesday, highlighting rising capabilities that are seen as tipping the balance of power in east Asia.
The drills involve more than 10,000 service members, including those from naval and army aviation units and land-based air defense forces, according to the official China …. Source article  : State media says China’s military in major air exercises underscoring growing sophistication.

Sensex flat, Asian bourses holding up

MUMBAI – A benchmark index for Indian equities Tuesday was ruling on a quiet note, though cues remained firm from most other Asian bourses.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,149.9 points, was trading at 18,114.64 points, 33.43 points or 0.18 percent up from its previous close at …. Source article  : Sensex flat, Asian bourses holding up.

Get your private island for $500,000

SYDNEY – It’s true! Now you can own an island complete with penguins and other sea birds as your neighbours.

The picturesque Picnic Island off the coast of Tasmania, southeastern state of Australia, is on sale and is expected to fetch between $500,000 and $1 million.
Bidding is open through expression of interest sought by …. Original article on Gaea Times at  : Get your private island for $500,000.

We won’t compromise on security, privacy: Blackberry

TORONTO – BlackBerry maker Research in Motion (RIM) said here Monday that it would not compromise on security and privacy of its smart phones while responding to the ban on BlackBerry by the United Arab Emirates and Saudi Arabia.

The Telecommunications Regulatory Authority of the UAE said Sunday that it would ban BlackBerry email, messaging …. Read the original article  : here.

Countrywide Financial agrees to pay $600 million to settle shareholders’ class-action lawsuits

Countrywide agrees to pay $600M to settle lawsuits

LOS ANGELES – Countrywide Financial Corp. agreed to pay $600 million to settle shareholder lawsuits in the largest payout so far from the mortgage meltdown.
U.S. District Judge Mariana Pfaelzer in Los Angeles on Monday gave preliminary approval to the agreement, in which the defendants admitted no wrongdoing.
The settlement … Original article on : Countrywide Financial agrees to pay $600 million to settle shareholders’ class-action lawsuits.

Keeping jobs away from India, China helped US recovery: Obama

WASHINGTON – US President Barack Obama has said America is on the road to recovery thanks to his economic plan that included ensuring new jobs and industries don’t go to China and India.

Blaming opposition Republicans, Obama said he took office in January 2009 “after nearly a decade of economic policies that gave us sluggish growth, …. Source article on Gaea Times at  : Keeping jobs away from India, China helped US recovery: Obama.

Money Market Operations as on August 02, 2010

… Original source on Gaea Times at : Money Market Operations as on August 02, 2010.

Asian shares rise early following big gains in US after string of reassuring economic news

Asian markets higher on better economic news

BANGKOK – Asian stocks markets mostly climbed Tuesday after Wall Street opened August with a strong rally on positive economic indicators from around the globe.
Oil prices extended gains above $81 a barrel to near a three-month high as improved sentiment in stock markets boosted crude.
The advance in Asian markets … Original source on Gaea Times at : Asian shares rise early following big gains in US after string of reassuring economic news.

BlackBerry says it won’t compromise on security and priavacy

TORONTO – Responding to the ban on BlackBerry by the United Arab Emirates and Saud Arabia, device maker Research in Motion (RIM) said here Monday that it would not compromise on security and privacy of its smart phones.

The Telecommunications Regulatory Authority of the UAE said Sunday that it would ban BlackBerry e-mail, messaging and Web … Original article on : BlackBerry says it won’t compromise on security and priavacy.

General Cable 2nd-quarter profit falls, misses analyst expectations

General Cable 2Q profit falls
HIGHLAND HEIGHTS, Ky. – General Cable Corp., which provides fiber optic and metal cable products, said Monday that its second-quarter profit sank 24 percent as higher expenses overshadowed a slight increase in revenue.

General Cable shares fell $1.34, or 4.8 percent, to $26.77 in after-hours trading. The stock had risen $1.57, or …. Source article on Gaea Times at  : General Cable 2nd-quarter profit falls, misses analyst expectations.

Geithner pledges quick action on new financial law with goal of simplification for consumers

Geithner pledges quick action on new financial law
NEW YORK – Treasury Secretary Timothy Geithner pledged on Monday to move with speed to implement the biggest overhaul of the financial system since the Great Depression. He said that a top priority will be simplifying the complicated forms that consumers have to fill out … Read the original article on Gaea Times at : Geithner pledges quick action on new financial law with goal of simplification for consumers.