China urged to amend archaic heat law

BEIJING – Experts have called for an amendment to China’s archaic heat law to protect the rights of workers who toil in high temperatures, a media report said Friday.

The scorching heat has already claimed the lives of over 40 people in the country this year, China Daily reported.
The extreme weather has baked … Read this article on Gaea Times at : China urged to amend archaic heat law.

World stocks mostly higher as investors eye key US employment report

World stocks mostly higher ahead of US jobs report

SINGAPORE – World stock markets were mostly higher Friday as investors looked to monthly employment figures for clues about the strength of the U.S. economic recovery.
In early trading in Europe, Britain’s FTSE 100 rose 0.5 percent, Germany’s DAX index gained 0.5 percent, and France’s CAC-40 advanced 0.5 …. Read the original article  : World stocks mostly higher as investors eye key US employment report.

China tests first homemade amphibious plane

BEIJING – China has started test flights of its first homemade amphibious plane dubbed Seagull 300, a media report said Friday.

The plane is built by the Shijiazhuang Aircraft Industry Co Ltd in China’s northern Hebei province, China Daily reported on its website. It left the assembly line Aug 4.
The aircraft can also take …. Source article on Gaea Times at  : China tests first homemade amphibious plane.

Hyundai to produce more cars for Indian market, cut exports

NEW DELHI – Hyundai Motors India Limited (HMIL) Friday said it will produce 0.7 lakh more cars this year to meet the growing domestic demand.

“We will increase our production capacity by 0.7 lakh units at our factories to meet the rising demand,” said H.W. Park, chief executive, HMIL.
Currently, HMIL produces six lakh units per …. Source  : Hyundai to produce more cars for Indian market, cut exports.

China a promising market for payment through mobile phones

BEIJING – China is one the most attractive markets for payments through mobile phones, a global consulting firm said after studying market conditions in five countries, including India.

The report by Arthur D Little (ADL), a management consulting firm, examined current market conditions for mobile financial services in M-BRIC countries (Mexico, Brazil, Russia, India and China), … Read the original article on Gaea Times at : China a promising market for payment through mobile phones.

Part-nationalized Royal Bank of Scotland reports Q2 profit of 257 mln pounds ($409 mln)

Royal Bank of Scotland makes Q2 profit of $409 mln

LONDON – Part-nationalized Royal Bank of Scotland said Friday it made a profit of 257 million pounds ($409 million) in the second quarter, due to large one-time gains, although losses from bad loans increased.
Results for RBS, a once-swaggering giant which became the biggest British casualty of … Original article on : Part-nationalized Royal Bank of Scotland reports Q2 profit of 257 mln pounds ($409 mln).

Part-nationalized Royal Bank of Scotland reports Q2 profit of $409 million

Royal Bank of Scotland makes Q2 profit of $409M

LONDON – Part-nationalized Royal Bank of Scotland says it made a profit of 257 million pounds ($409 million) in the second quarter of the year although losses from bad loans increased.
The bank’s second-quarter profit more than reversed the first-quarter loss, and it reported a net profit of …. Original source  : Part-nationalized Royal Bank of Scotland reports Q2 profit of $409 million.

Oil rises above $82 ahead of key US July employment report

Oil rises above $82 as traders eye US jobs report

SINGAPORE – Oil prices rose above $82 a barrel Friday in Asia ahead of a key employment report that will help investors gauge the strength of the U.S. economy.
Benchmark crude for September delivery was up 38 cents to $82.39 a barrel at late afternoon Singapore time …. Source  : Gaea News Network.

APNewsBreak: Asian investment group says it won’t enrich Hicks, Gillett in bid for Liverpool

APNewsBreak: Group won’t enrich Hicks, Gillett

NEW YORK – A group of Chinese investors said Friday that any offer it makes to buy Liverpool from Tom Hicks and George Gillett Jr. won’t enrich the embattled American co-owners.
Marc Ganis, whose Chicago-based company Sportscorp Ltd. has helped form the investment group, said it first contacted Liverpool chairman Martin …. Read the original article  : here.

German insurer Allianz’s net profit down 46 percent in 2nd quarter at $1.34 billion

Allianz profit down 46 percent in 2nd quarter

BERLIN – German insurer Allianz SE said Friday that its net profit dropped 46 percent in the second quarter as losses on assets and investments outweighed an improvement in business and revenues.
Allianz, based in Munich, earned ???1.02 billion ($1.34 billion) in the April-June period, down from ???1.87 billion …. Source  : German insurer Allianz’s net profit down 46 percent in 2nd quarter at $1.34 billion.

China looks to US, others for more corn to feed livestock; food prices could rise worldwide

US farmers hope to soon sell more corn to China

DES MOINES, Iowa – Some analysts are predicting a big increase in China’s corn imports, which could mean added income for U.S. farmers.
But it also could mean higher food prices worldwide, particularly for meat as livestock feed prices rise.
U.S. farmers said they’re cautious but hopeful about …. Read the original article  : here.

Sensex choppy, Asian cues mixed

MUMBAI – A benchmark index for Indian equities Friday was choppy in noon trade with other Asian markets trading on mixed cues.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,165.49 points, was at 18,226.52 points, 52.15 points or 0.29 percent up from its previous close at 18,172.83 points. … Original article on : Sensex choppy, Asian cues mixed.

Bharti Walmart planning more wholesale stores, Punjab is focus

JALANDHAR – Bharti Walmart is planning to open 10 to 15 cash-and-carry wholesale stores over the next three years and hoping that the government will open up multi-brand retail to foreign investment.

“We are committed to building a strong and efficient supply chain that would benefit consumers. This process can be strengthened if we are also … Read more »»».

Android set to overtake iPhone

SAN FRANCISCO – Phones running Google’s Android operating system are selling at the rate of 200,000 a day, according to Google chief executive Eric Schmidt.

Schmidt made the comments at the Techonomy Conference Thursday, in a video of his talk posted on YouTube.
Schmidt said that the success of Android has more than made up for …. Source  : Android set to overtake iPhone.

RIM talks tough as Canadian government, media back BlackBerry

TORONTO – The Canadian government and media have fully backed the security features of BlackBerry that have concerned countries like India, UAE and Saudi Arabia, even as the chief of its developer-company stood firm on his stand and said the device was being unfairly targeted.

“Our government will be standing up for Research in Motion (RIM) …. Original article  : RIM talks tough as Canadian government, media back BlackBerry.

German insurer Allianz’s net earnings down 46 percent in 2nd quarter

Allianz’s earnings down 46 percent in 2nd quarter

BERLIN – German insurer Allianz SE says its net earnings dropped 46 percent in the second quarter as lower realized gains outweighed higher revenues and operating profit.
Allianz said Friday that it earned euro1.02 billion ($1.34 billion) in the April-June period, down from euro1.87 billion a year earlier.
Revenues rose … Read more >>.

Social networking costs Britain 14 bn pounds in lost work time

LONDON – Social networking websites like Facebook and Twitter have cost the British economy a whopping 14 billion pounds a year in lost work time, a study said.

The study pointed out that two million employees spend an hour a day on social networking sites and over half the workforce make use of Facebook, Twitter, MySpace … Original source on Gaea Times at : Social networking costs Britain 14 bn pounds in lost work time.

Asian stocks mixed as investors eye key US employment report

Asian stocks mixed ahead of key US jobs report

SINGAPORE – Asian stock markets were mixed Friday as investors looked to monthly employment figures for clues about the strength of the U.S. economic recovery.
The mood in the region was cautious after new unemployment benefit claims in the U.S. rose to their highest level in four months. … Original source on Gaea Times at : Asian stocks mixed as investors eye key US employment report.

China tries to reassure markets after bank stress tests, says no indication of policy change

China tries to reassure markets about stress tests

BEIJING – Regulators tried to reassure financial markets about “stress tests” ordered on Chinese banks’ real estate lending, saying Friday they do not represent official views of where the market is headed or any impending policy change.
Stock prices of Chinese banks and real estate companies fell this week …. Source  : Gaea News Network.

Oil hovers near $82 ahead of key US July employment report

Oil hovers near $82 ahead of key US jobs report

SINGAPORE – Oil prices hovered near $82 a barrel Friday in Asia ahead of a key U.S. employment report.
Benchmark crude for September delivery was up 8 cents to $82.09 a barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange. The contract …. Original source  : Oil hovers near $82 ahead of key US July employment report.