China begins yuan trade against Malaysian ringgit in local market, widening scope for currency

China begins yuan trade against Malaysian ringgit

SHANGHAI – China began allowing the Malaysian ringgit to trade against its currency in its domestic foreign exchange market on Thursday – another step toward raising the yuan’s scope in international trading.
As of Thursday morning, the central bank began setting a “central parity rate” for the yuan and ringgit, … Original source on Gaea Times at : China begins yuan trade against Malaysian ringgit in local market, widening scope for currency.

China to expand movie domestic industry, aims to build more theaters and make more films

China plans to make more films, build theaters

BEIJING – China said it will expand its movie industry by making more films and building more theaters to meet growing demand.
“So far this year, we have already matched the number of total theaters built last year, but we still have yet to meet the increasing demand,” Zhao …. Source article  : China to expand movie domestic industry, aims to build more theaters and make more films.

World Bank approves $430 mn loan for Mumbai rail project

NEW DELHI – The World Bank has approved a $430 million loan to Indian Railways for part funding of its Mumbai Urban Transport Project II (MUTP II), aimed at improving transport in and around the metropolis, the Lok Sabha was told Thursday.

In response to a question, Minister of State for Railways K.H. Muniyappa also said …. Source article  : World Bank approves $430 mn loan for Mumbai rail project.

First set of 2,000 rural youth placed under special skills project

NEW DELHI – NIS Sparta, an educational training institution and part of the Reliance Anil Dhirubhai Ambani Group (R-ADAG), Thursday announced the placement of 2,000 underprivileged youth from rural areas under a special, government-led project.

“The special project for the unemployed rural youth from below-the-poverty-line families aimed to equip them with employable skill-set to help them …. Source  : Gaea News Network.

German minister considering income tax changes to iron out inequalities for gay couples

Germany considering income tax equality for gays

BERLIN – Germany’s justice minister says she is considering changes to income tax laws to iron out disadvantages for gay couples.
Sabine Leutheusser-Schnarrenberger told Thursday’s edition of the Muenchner Merkur newspaper she thinks homosexual legal partners should be granted income tax breaks similar to those enjoyed by heterosexual married couples.
Germany’s …. Source  : German minister considering income tax changes to iron out inequalities for gay couples.

Russia marks 50th anniversary of 1st flight of space dogs Belka and Strelka

Russia marks 50th anniversary of space dogs flight

MOSCOW – Russia is marking the 50th anniversary of the space flight of two mongrel dogs – Belka and Strelka – who became the first living creatures to circle the Earth and come back alive.
The August 1960 mission helped test the equipment which was used to carry the …. Source article on Gaea Times at  : Russia marks 50th anniversary of 1st flight of space dogs Belka and Strelka.

Canon India announces strategic e-governance initiative for Rajasthan

New Delhi, Aug.19 (ANI-Business Wire India): Canon India Private Limited, India’s No 1. Complete Digital Imaging Company today announces strategic initiatives in the field of education.

Canon India along with its channel partner M/s NETSPIDER INDIA (NIIL), will be working in partnership with the Government of Rajasthan, Education council to roll out the “Sarva Shiksha … Read more »».

ICSS, Israel college sign first Indo-Israeli security training pact

New Delhi, Aug. 19 (ANI-Business Wire India): In a landmark development to enable the youth of India gain leadership positions in the fast growing private security industry and to bring best practices of security intelligence and management to the industry and the nation, the International College for Security Studies (ICSS) and Israeli College for Security …. Source  : Gaea News Network.

Euro lower against dollar as markets remain wary of risk, buys $1.2813

Euro lower against dollar at $1.2813
BERLIN – The euro is a little lower against the dollar as the market mood remained relatively risk averse amid ongoing uncertainty over the global economic outlook.

The 16-nation currency bought $1.2813 Thursday morning in European trading, down from $1.2865 in New York late Wednesday.
Mixed signs about the outlook for major … Original article on : Euro lower against dollar as markets remain wary of risk, buys $1.2813.

Report: Video shows bustling North Korean market filled with Chinese products

Report: Video shows bustling market in NKorea

SEOUL, South Korea – Video taken at a bustling North Korean market in a border town showed an array of Chinese-made products for sale, a peek at how the country is recovering from drastic economic measures taken late last year, a report said Thursday.
Footage showed tables piled with goods, …. Original article on Gaea Times at  : Report: Video shows bustling North Korean market filled with Chinese products.

Pay cut for going to toilet upsets staff

LONDON – Employees at a factory in Britain may decide to take legal action after their wages were cut every time they went to the toilet.

Staff at the meat processing plant Dunbia, in Sawley, were told to clock off each time they went to the toilet. Money was deducted from their pay packets.
Unite, a … Read more >>.

Food inflation eases a tad to 10.35 percent

NEW DELHI – India’s food inflation eased to 10.35 percent for the week ended Aug 7 from 11.4 percent a week earlier, official data released Thursday showed.

The easing in prices of some pulses, and a sharp drop in prices of vegetables, potatoes, and onions helped temper the overall food index.
The fuel prices index, continued …. Source article  : Food inflation eases a tad to 10.35 percent.

Swiss cement maker Holcim reports 12 percent drop in second-quarter net profit to $383 million

Cement maker Holcim sees Q2 profit drop 12 percent

GENEVA – Cement maker Holcim is blaming a slow construction recovery in Europe for a 12 percent drop in second-quarter net profit to 399 million Swiss francs ($383 million).
Last year, the Jona, Switzerland-based company made a profit attributable to shareholders of 453 million francs.
Holcim says it has … Read more >>.

Railways want security before reconstruction work in Kashmir

JAMMU – The railways has apologised to the Jammu and Kashmir government for the delay in reconstructing stations and tracks damaged during the trouble in the Valley, an official said, adding that the “sense of security” needed for its staff and property was missing.

The railways wants an irrevocable guarantee of security and safety from …. Original source  : Railways want security before reconstruction work in Kashmir.

Sensex moves up further in noon trade, Asian markets firm

MUMBAI – A benchmark index for Indian equities Thursday moved up further from its opening highs with FMCG, consumer durables and banking scrips leading the gainers pack. The index was up 183 points around noon joining the rally at other major Asian markets.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), … Read the original article on Gaea Times at : Sensex moves up further in noon trade, Asian markets firm.

Russia continues to dominate Indian military aviation

NEW DELHI – Russia is set to win another Indian order for 59 multi-role helicopters in addition to the 80 ordered earlier, retaining Moscow’s traditionally dominant lead in selling military aircraft to India.

The Indian Air Force (IAF) chief, Air Chief Marshal P.V. Naik, told India Strategic defence magazine (www.indiastrategic.in) in an interview that the …. Original source  : Russia continues to dominate Indian military aviation.

Business booms for labour laws outsourcing units

CHENNAI – The pan-India expansion of telecom, insurance, banking and financial services companies and the near extinction of the tribe of personnel managers have resulted in booming business for labour laws compliance outsourcing units.

“It is an opportunity that has arisen out of an Indian tragedy – the tragedy of having to deal with multitude of … Read more >>>.

Egypt voted best destination by travel writers

GURGAON – Egypt has been voted the “perfect holiday destination” by the Pacific Area Travel Writer’s Association (PATWA) and tourism publication Safari India at a tourism conclave here.

Director of Egyptian Tourism Office in India, Adel El Masary, was Wednesday evening honoured with a prize for the best tourism director from overseas while Egypt was described … Read the original article on Gaea Times at : Egypt voted best destination by travel writers.

Australian prime minister rules out deals with opposition lawmakers to pass mining tax law

Australian PM rules out deals on mining tax law

CANBERRA, Australia – Prime Minister Julia Gillard on Thursday ruled out compromising her mining tax plans in deals with opposition lawmakers if she wins Australia’s election, which she described as “a cliffhanger.”
A re-elected Labor Party government would likely need the votes of opposition senators to pass legislation … Read more »».

Most Asian shares rise; BHP Billiton’s hostile takeover bid weighs on Australian index

Asian shares advance after slim Wall Street gains

SHANGHAI – Asian shares posted moderate gains Thursday after a lackluster day on Wall Street, as an industry report showing rising demand for chips buoyed technology companies.
Uncertainty over prospects for economic growth in coming months kept benchmarks within a narrow range. But upbeat earnings results from U.S. retailers …. Source article  : Most Asian shares rise; BHP Billiton’s hostile takeover bid weighs on Australian index.