Oil rises above $73 in Asia on bargain hunting as stock markets rise after sell-off

Oil rises above $73 amid stronger stock markets

KUALA LUMPUR, Malaysia – Oil prices extended gains to rise above $73 a barrel Thursday in Asia as regional stock markets advanced and recent sharp losses in crude drew more buyers.
Benchmark crude for October delivery was up 72 cents at $73.24 a barrel at late afternoon Kuala Lumpur … Read more »».

TVS to invest Rs.200 crore for capacity expansion

NEW DELHI – Two and three-wheeler maker TVS Motors Thursday said it will invest Rs.200 crore by April next year to increase production to meet rising demand.

“we are increasing our capacity to 28 lakh units from 21 lakh units per annum to meet the growing demand. We will investment Rs.200 crore by April 2011,” … Read this article on Gaea Times at : TVS to invest Rs.200 crore for capacity expansion.

Renault to launch five cars in India

NEW DELHI – French auto major Renault Thursday said it will launch five cars in India between 2011 and 2013.

“We will be launching five cars in India, starting from mid-2011 to mid-2013. We will also launch a small car in the Indian market in 2012,” said Marc Nassif, country general manager, Renault India, on the … Original source on Gaea Times at : Renault to launch five cars in India.

Spain says 2nd quarter GDP decline in annual terms smaller than originally believed

Spain revises Q2 growth figure upward
MADRID – Spain says its economy contracted at an annual rate of 0.1 percent in the second quarter, less than the initial estimate of a 0.2 percent decline.

The National Statistics Institute confirmed its original figure of 0.2 percent growth in the second quarter compared to the first. That marked the … Read this article on Gaea Times at : Spain says 2nd quarter GDP decline in annual terms smaller than originally believed.

Textile park to come up in Himachal

SHIMLA – Himachal Pradesh will set up a textile park with an outlay of Rs.107 crore (around $22 million), a minister said here Thursday.

“Chief Minister Prem Kumar Dhumal will lay the foundation stone of the textile park Aug 28 which will come up in Amb tehsil,” Industry Minister Kishan Kapoor told IANS.
He said a … Original article on : Textile park to come up in Himachal.

Philippine president vows punishment in bus hijack, Senate opens investigation

Philippine leader vows punishment in bus hijack

MANILA, Philippines – The Philippine president vowed Thursday that “someone will pay” for the bus hostage crisis that killed Hong Kong tourists as senators began grilling senior police officers over the deadly fiasco.
Addressing students and teachers at a suburban university, President Benigno Aquino III said the nearly 12-hour hostage-taking …. Read the original article  : Philippine president vows punishment in bus hijack, Senate opens investigation.

Euro up at $1.2736 after report shows rise in German consumer sentiment

Euro up against the dollar after German report

BERLIN – The euro has gained on the dollar as key indicators showed the German economy, Europe’s largest, is sustaining robust growth.
The 16-nation currency bought $1.2736 in early Thursday trading, up from the $1.2657 it fetched in New York overnight, after an indicator of German business confidence rose …. Source article  : Euro up at $1.2736 after report shows rise in German consumer sentiment.

Supermarket operator Ahold reports 3 percent rise in Q2 profits; US, Dutch margins steady

Ahold reports 3 percent rise in Q2 profits

AMSTERDAM – Royal Ahold NV, the Dutch operator of the Stop & Shop and Giant grocery chains in the United States, said Thursday its second quarter profits rose just three percent due to a loss at its Scandinavian joint venture ICA.
Ahold’s net profit was ???202 million ($256 million) …. Source article  : Supermarket operator Ahold reports 3 percent rise in Q2 profits; US, Dutch margins steady.

Panel scoffs at Mamata’s claim to build 1,000 km of tracks a year

NEW DELHI – A parliamentary panel, mandated to examine Indian Railways’ functioning, has scoffed at Railway Minister Mamata Banerjee’s promise to build 1,000 km of tracks this fiscal and 25,000 km by 2020.

The panel, headed by T.R. Baalu of the Dravida Munnetra Kazhagam (DMK), doubts the ministry’s claim, saying the railways have been able to …. Source  : Gaea News Network.

Sensex crawls up in afternoon trade

MUMBAI – A benchmark index for Indian equities crept up in afternoon trade Thursday to rule at 76 points higher, having been range-bound in the morning session.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,194.78 points, was at 18,255.97 points, 76.33 points or 0.42 percent up from its previous …. Read the original article  : Sensex crawls up in afternoon trade.

Sensex crawls up in afternoon trade

MUMBAI – A benchmark index for Indian equities crept up in afternoon trade Thursday to rule at 76 points higher, having been range-bound in the morning session.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,194.78 points, was at 18,255.97 points, 76.33 points or 0.42 percent up from its previous … Read more >>.

Food inflation down for second straight week to 10.05 percent

NEW DELHI – India’s food inflation eased to 10.05 percent for the week ended Aug 14 from 10.35 percent a week earlier, official data released Thursday showed.

The government’s decision to freeze exports of food grains and good monsoon rains have had a sobering effect on prices for the second successive week.
The fuel prices … Read more »»».

Thousands of protesting farmers throng parliament

NEW DELHI – Delhi geared up for more traffic trouble Thursday as thousands of farmers congregated outside parliament Thursday to demand enhanced compensation for their lands being acquired for the Yamuna Expressway in Uttar Pradesh, and thousands more were expected to join them.

Rashtriya Lok Dal (RLD) leader Ajit Singh, Jayant Chaudhary and several farmer leaders …. Original source  : Thousands of protesting farmers throng parliament.

Big in China: Brands import foreign athletes, celebrities to woo Chinese customers

Big in China: Brands import foreign celebrities

BEIJING – Kevin Garnett wore his affection for China’s booming sportswear market on his back as the NBA star arrived in Beijing in August.
“Love China” declared the Boston Celtics power forward’s T shirt. On the front: The angular red slash logo of Anta, the athletic shoe producer that brought …. Original article  : Big in China: Brands import foreign athletes, celebrities to woo Chinese customers.

Garmin Ltd. Recalls 1.3 Million GPS Units

NEW YORK (GaeaTimes.com)- On Wednesday, Garmin Ltd. announced that it is recalling around 1.3 million Nuvi GPS devices sold all over the world. The company announced that the recall is being done after it found that the batteries of the units sold have the potential to get overheated and lead to fire hazards. …. Read the original article  : Garmin Ltd. Recalls 1.3 Million GPS Units.

Drinks company Diageo’s full-year profit up 1.5 percent on second-half rebound

Diageo full-year profit up 1.5 percent
LONDON – Diageo PLC, the world’s biggest spirits maker, said Thursday that its full-year profit rose 1.5 percent as sales in emerging markets fueled a rebound from a weak first half.

For the year ending June 30, the maker of Johnnie Walker whisky, Smirnoff vodka and Guinness stout reported a net …. Original article  : Drinks company Diageo’s full-year profit up 1.5 percent on second-half rebound.

Air China says first-half profit up 60 percent as travel, cargo recover from global crisis

Air China says first-half profit up 60 percent

BEIJING – Air China Ltd., one of China’s three major state-owned airlines, said Thursday its first-half profit rose 60 percent over a year earlier as passenger travel and cargo recovered from the global crisis.
Profit for the six months ending June 30 was 4.6 billion yuan ($675 million), or … Read the original article on Gaea Times at : Air China says first-half profit up 60 percent as travel, cargo recover from global crisis.

Mazda, Ford to invest $350 million to revamp Thai plant for pickup truck production

Mazda, Ford to invest $350 million in Thai plant

TOKYO – Ford Motor Co. and Mazda Motor Corp. are investing $350 million in their joint venture plant in Thailand to revamp production of pickup trucks, both sides said Thursday.
The investment at AutoAlliance Thailand, a 50-50 joint venture, underlines that four years of political upheaval has not … Read the original article on Gaea Times at : Mazda, Ford to invest $350 million to revamp Thai plant for pickup truck production.

Oil extends gains to near $73 in Asia on bargain hunting as stock markets rise after sell-off

Oil rises to near $73 amid stronger stock markets

KUALA LUMPUR, Malaysia – Oil prices extended gains to near $73 a barrel Thursday in Asia as regional stock markets rose and recent sharp losses in crude drew more buyers.
Benchmark crude for October delivery was up 32 cents at $72.93 a barrel at midday Kuala Lumpur time …. Read the original article  : Oil extends gains to near $73 in Asia on bargain hunting as stock markets rise after sell-off.

Asian stocks rise modestly amid more weak indicators on US economy

Asian shares snap losing streak but gains modest

SEOUL, South Korea – Most Asian markets rose Thursday, snapping a lengthy losing streak, though apprehension over a slowing U.S. economy capped gains.
Japan’s Nikkei 225 stock average advanced 47.09 points, or 0.5 percent, to 8,892.48 as the yen steadied against the dollar following big gains that have hit … Read more : Asian stocks rise modestly amid more weak indicators on US economy.