IEA raises global oil demand forecast on higher outlook in Europe, non-OECD region

Global oil demand seen rising slightly
PARIS – Global oil demand will rise 2.2 percent this year and will continue to grow in 2011, thanks to improving economic conditions in Europe and developing countries, the International Energy Agency said Wednesday.

In its monthly report on the oil markets, the Paris-based agency said global oil demand this year … Original source on Gaea Times at : IEA raises global oil demand forecast on higher outlook in Europe, non-OECD region.

Oil falls below $80 as investors eye slowing growth in China, falling stock markets

Oil falls below $80 as China growth slows
SINGAPORE – Oil prices fell below $80 a barrel Wednesday in Asia as signs of slowing growth in China and falling stock markets undermined expectations that demand for crude will strengthen.

Benchmark crude for September delivery was down 64 cents at $79.61 a barrel at late afternoon Singapore time … Read : Oil falls below $80 as investors eye slowing growth in China, falling stock markets.

Nestle beats expectations with $5 billion half-year profit, raises outlook

Nestle makes $5B half-year profit, raises outlook

GENEVA – Swiss food and drinks company Nestle SA reported Wednesday a 7.5 percent rise in half-year net profit to 5.45 billion Swiss francs ($5 billion) and raised its full-year outlook as global sales increased despite adverse currency exchange rates.
The results from the maker of Nescafe, Jenny Craig and …. Read the original article  : Nestle beats expectations with $5 billion half-year profit, raises outlook.

Tata Motors Jubiliant On Nano

KERALA, INDIA (GaeaTimes.com)- Tata motors is very happy with the response it is getting from the customers in Kerala. The company is offering a special deal for its entry level car Nano for the Onam festival in Kerala. The car buyers have shown immense interest on the Nano which is the cheapest car …. Original source  : Tata Motors Jubiliant On Nano.

ING earns ???1.09B ($1.44B) in second quarter on good margins, fewer bad investments

ING Q2 profit rises sharply
AMSTERDAM – ING Groep NV, the Dutch bank and insurance company, Wednesday reported a sharp rise in second quarter earnings, mostly because it avoided some of the losses it made a year ago on stocks, bonds, and real estate-related investments.

Net profit was euro1.09 billion ($1.44 billion), up from euro79 million in … Read : ING earns ???1.09B ($1.44B) in second quarter on good margins, fewer bad investments.

Desiree Rogers Becomes Johnson Publishing Company Inc. CEO

CHICAGO (GaeaTimes.com)- Former White House social secretary Desiree Rogers has a whole new job to prove her expertise. The Johnson CEO Linda Johnson Rice on Tuesday named Desiree Rogers as the chief executive officer of Johnson Publishing Company Inc. 51-year-old Desiree Rogers had in past remained the director of the Illinois Lottery and …. Source  : Desiree Rogers Becomes Johnson Publishing Company Inc. CEO.

World markets drop as strong yen knocks Japan shares, China shows more signs of slowdown

World stocks drop as China slows, yen knocks Japan

BANGKOK – World markets slid Wednesday as strength in the yen knocked Japanese shares and China’s economy showed more signs of slowdown, offsetting halfhearted enthusiasm for the U.S. Federal Reserve’s new stimulus measures.
The Nikkei 225 stock average led losses, diving more than 2.5 percent as the yen …. Original article  : World markets drop as strong yen knocks Japan shares, China shows more signs of slowdown.

Bharti Airtel reports 32 percent drop in net profit

NEW DELHI – Indian telecom major Bharti Airtel, which recently acquired the African assets of Kuwait’s Zain, Wednesday reported a 32 percent fall in its net profit for the quarter ended June 30, over the like period of last year.

Announcing its consolidated results, the company said it posted a net profit of Rs.1,682 crore … Read this article on Gaea Times at : Bharti Airtel reports 32 percent drop in net profit.

Companies rule out ports closure hitting fuel supply

MUMBAI – State-run oil marketing companies have ruled out a fuel shortage following the closure of the Jawaharlal Nehru and Mumbai ports, which has disrupted shipment of crude oil to local refineries.

The companies said they have stocked up inventories and will get supplies through pipelines.
“There is no problem for the immediate … Read : Companies rule out ports closure hitting fuel supply.

Toyota halts auto exports to Iran

TOKYO – Toyota Motor Corp has halted auto exports to Iran amid growing international pressure over Tehran’s nuclear programme, a news report said Wednesday.

Toyota’s auto exports to Iran do not violate US sanctions, but the automaker suspended shipments as foreign companies that deal with Iran have come under scrutiny by the US government, Nikkei …. Source  : Gaea News Network.

RBI releases Discussion Paper on Entry of New Banks in the Private Sector

The Reserve Bank of India released on its website today, the Discussion Paper on “Entry of New Banks in the Private Sector (rbidocs.rbi.org.in/rdocs/content/PDFs/FIDIS110810.pdf) ”. The paper seeks views/comments of banks, non-banking financial institutions, industrial houses, other institutions and the public at large.
Suggestions and comments are invited on the … Read this article on Gaea Times at : RBI releases Discussion Paper on Entry of New Banks in the Private Sector.

Bharti Airtel to acquire Telecom Seychelles for $62 million

NEW DELHI – India’s Bharti Airtel Wednesday said it will acquire 100 percent stake in the Telecom Seychelles for $62 million to expand its business in Africa.

“Telecom Seychelles has world-class operations that include state-of-the art 3G services. These operations will benefit further by leveraging the efficiencies of scale of our African operations,” said Bharti …. Source  : Gaea News Network.

Winners in both parties highlight their inexperience in politics

Primary winners highlight political inexperience
WASHINGTON – All hail inexperience – the less familiarity with politics the better, no matter the party or state.
“This election is the first time my name has ever been on a ballot,” appointed Sen. Michael Bennet of Colorado said Tuesday night, hours after dispatching his rival in … Read more : Winners in both parties highlight their inexperience in politics.

Montana ‘cow whisperer’ tries to improve cattle industry’s image after video of animal abuse

Cow whisperer aims to improve livestock handling

WOLF CREEK, Mont. – The herd of lowing cows parted like a wave before Curt Pate, who rode straight up to the bull and let him know who was in charge without making a sound.
Pate, a 49-year-old Montana cowboy who consulted on the 1998 Robert Redford film “The Horse … Read the original article on Gaea Times at : Montana ‘cow whisperer’ tries to improve cattle industry’s image after video of animal abuse.

Colombia, Venezuela leaders agree to restore ties ruptured in dispute over leftist rebels

Colombia, Venezuela restore diplomatic relations

SANTA MARTA, Colombia – The leaders of Colombia and Venezuela have re-established diplomatic relations, saying they are starting to repair confidence undermined by years of recriminations between the two countries.
The announcement came after a four-hour meeting Tuesday between Venezuelan President Hugo Chavez and Colombia’s new leader, Juan Manuel Santos, restoring ties …. Source article on Gaea Times at  : Colombia, Venezuela leaders agree to restore ties ruptured in dispute over leftist rebels.

Regulatory body for auto industry soon

NEW DELHI – A specialised body for regulating the auto industry will soon be set up for sustainable growth of the sector, union Minister for Heavy Industries and Public Enterprises Vilasrao Deshmukh has said.

“It will act as a catalyst for sustainable growth of the Indian automobile industry,” Deshmukh said at the golden jubilee celebrations of … Read the original article on Gaea Times at : Regulatory body for auto industry soon.

Indian-origin management guru to address Malaysian forum

KUALA LUMPUR – Virgin Group founder and chairman Richard Branson and US-based Indian management guru Anil Gupta will address a forum here next month.

Branson is expected to outline his thoughts on the current investment landscape and on the growing importance of Asia in the forum entitled “Dawn of the New Decade – Alternative Investment …. Source  : Gaea News Network.

Russia’s Sistema to float public issue for Indian telecom arm

NEW DELHI – Sistema, one of Russia’s largest listed companies with annual revenues of $19 billion, will soon float a public issue for its Indian telecom services venture after Moscow concludes its funds infusion programme of around $675 million.

“We are ready for a public issue. In principle, this has been approved. But there are some … Read the original article on Gaea Times at : Russia’s Sistema to float public issue for Indian telecom arm.

Bharti Airtel quarterly profits down 32 percent on forex loss and price competition in India

Bharti Airtel profit down on price war, forex loss

MUMBAI, India – Bharti Airtel said quarterly profits fell 32 percent to $361 million on foreign exchange losses and tight competition in its main India market.
A stronger dollar fueled currency losses of $46 million during the quarter, the company said Wednesday.
Revenues for the April-to-June quarter were $2.6 …. Original source  : Bharti Airtel quarterly profits down 32 percent on forex loss and price competition in India.

China’s July industrial growth slows further amid credit curbs as inflation spikes up

China’s industrial growth slows, inflation jumps

BEIJING – China’s industrial growth slowed further in July as Beijing clamped down on a credit boom, fueling expectations it will ease monetary policy to shore up its economic expansion.
Inflation spiked to its highest level this year as summer flooding wrecked crops but analysts said the increase will likely prove … Read this article on Gaea Times at : China’s July industrial growth slows further amid credit curbs as inflation spikes up.