IDBI best public sector bank for SME financing: D&B

MUMBAI – IDBI Bank has received the best public sector bank award for financing small and medium enterprises (SMEs) from global business information provider Dun and Bradstreet (D&B).

“IDBI Bank has developed a special business model to serve the SMEs in the country that has enabled the bank to develop a quality SME portfolio through a [..] Read the original article: here.

Euro climbs on the dollar to $1.2724 as markets await Bernanke speech on US economic growth

Euro climbs on dollar ahead of Bernanke speech

BERLIN – The euro is up against the dollar as markets await a speech by the head of the U.S. Federal Reserve for any signs the central bank will take measures to bolster the U.S. economy.
The euro, used by 16 nations, bought $1.2724 early Friday, up from $1.2703 … Read more >>.

UK second quarter growth revised upward to 1.2 pct from preliminary estimate of 1.1 pct

British Q2 economic growth revised up to 1.2 pct

LONDON – A government agency says Britain’s economy grew by 1.2 percent in the second quarter, higher than the preliminary estimate of 1.1 percent released a month ago.
Friday’s release from the Office for National Statistics confirmed that the British economy grew for a third straight quarter, following … Read more : UK second quarter growth revised upward to 1.2 pct from preliminary estimate of 1.1 pct.

China shares rise but gains tempered by mixed earnings from major state-owned companies

China shares rise but earnings temper gains

SHANGHAI – Chinese shares rose Friday but gains were tempered by mixed earnings reports from major companies.
The benchmark Shanghai Composite Index edged up 7.26 points, or 0.3 percent, to close at 2,610.74. For the week, it lost 1.2 percent. The Shenzhen Composite Index for China’s smaller second exchange added … Read more »».

Saab owner Spyker reports $176 million loss in 1H; Saab’s sales down more than 50 percent

Saab owner Spyker posts $176 million loss in 1H

AMSTERDAM – Spyker Cars NV, the owner of Saab Automobile AB, reported a hefty loss Friday for the first half of 2010, as the tiny company absorbed the impact of purchasing the much larger Saab as it was on the verge of liquidation.
Spyker’s net loss was euro139 … Read more : Saab owner Spyker reports $176 million loss in 1H; Saab’s sales down more than 50 percent.

Oil prices ease in Asia to near $73 after 2 days of gains as regional stock markets waver

Oil falls to near $73 as stock markets waver

KUALA LUMPUR, Malaysia – Oil prices eased in Asia on Friday after two straight days of gains, taking a cue from regional stock markets which were mixed amid expectations of slower U.S. economic growth.
Benchmark crude for October delivery was down 22 cents at $73.14 a barrel at …. Source article on Gaea Times at  : Oil prices ease in Asia to near $73 after 2 days of gains as regional stock markets waver.

Bihar government staff strike hits flood, drought relief

PATNA – The functioning of government offices in Bihar has come to a standstill with the indefinite strike of more than 2.5 lakh state non-gazetted employees continuing fifth day Friday.

The employees of the Bihar government Monday went on an indefinite strike to press their demand for grant of higher remunerations and salaries as recommended by [..] Read the original article: here.

Free of sanctions, Libya reaches out – and up – in boom dubbed by some as the ‘new Dubai’

The ‘new Dubai’? Libya open for business
BENGHAZI, Libya – In the outskirts of this city, Libya’s second largest, row after row of sand-colored concrete apartment blocks and villas are sprouting from the desert. Hundreds of kilometers away, construction cranes dot the Mediterranean skyline of the capital, Tripoli.

The multibillion dollar construction frenzy taking place is the … Read more : Free of sanctions, Libya reaches out – and up – in boom dubbed by some as the ‘new Dubai’.

Putting meals where their mouths are, Obamas choose local produce on Martha’s Vineyard holiday

On Martha’s Vineyard, Obamas savor local produce
VINEYARD HAVEN, Mass. – For a vacationing President Barack Obama, it seems all produce – like politics – is local.
So far, in their only dinner outings since arriving on Martha’s Vineyard last week, the president and his wife have twice eaten at restaurants that feature … Read this article on Gaea Times at : Putting meals where their mouths are, Obamas choose local produce on Martha’s Vineyard holiday.

SPIN METER: Obama administration avoids mention of problems, delays in weatherization program

SPIN METER: What Biden didn’t mention on stimulus
FRESNO, Calif. – Vice President Joe Biden said this week that the Obama administration “hit the accelerator” toward spending $5 billion under the economic stimulus law to weatherize people’s homes, create thousands of jobs, help consumers save money and put the nation …. Original article on Gaea Times at  : SPIN METER: Obama administration avoids mention of problems, delays in weatherization program.

India hopes for Blackberry solution by Aug 31

NEW DELHI – India Friday said the ongoing discussions with Blackberry maker Research in Motion (RIM) would result in a solution, satisfying the country’s security concerns.

“The discussions are still going on. We are not in the business of shutting down services,” Minister of State for Communications Sachin Pilot said on the sidelines of an e-governance [..] Read the original article: here.

Canadian rancher serves cattle red wine, making animals happy and giving meat unique taste

Canadian cattle enjoy red wine with their feed

VANCOUVER, British Columbia – Western Canadian beef producers have found a novel way of putting the “bar” in barbecue.
Angus cattle in British Columbia’s Okanagan wine and cattle region are being fed red wine with their grain. Chefs in this Canadian Pacific Coast province said it makes for a …. Source article  : Canadian rancher serves cattle red wine, making animals happy and giving meat unique taste.

Okla. agency approves $20M bond deal for expansion of Goodyear plant in Lawton

Okla. agency OKs $20M bond deal for Goodyear plant

OKLAHOMA CITY – An Oklahoma agency has approved a $20 million bond deal that will help pay for the expansion of the Goodyear tire-making plant in Lawton.
The Council of Bond Oversight on Thursday authorized the Oklahoma Development Finance Authority to issue $20 million in bonds for the …. Read the original article  : here.

Google opens new line to internet phone calls

SAN FRANCISCO – All the fuss about tweeting, texting, Facebook pokes and various other cutting-edge forms of communication can obscure the fact that old-fashioned telephone calls are still a pretty effective way of conveying information.

But the 560 million people who are registered users of internet phone pioneer Skype have never forgotten the value of talk, … Original article on : Google opens new line to internet phone calls.

Japan’s automakers report solid growth in global vehicle production for July

Japan automakers report solid production for July

TOKYO – Japanese automakers say they have posted solid growth in global vehicle production for July.
Toyota Motor Corp., the world’s biggest automaker, said Friday its worldwide production in July rose 10 percent year-on-year to 633,197 on brisk demand in Asia and South Africa.
Honda Motor Co. said global production in … Read more >>>.

More Chinese than Indians in Malaysia’s civil services

KUALA LUMPUR – Ethnic Indians in Malaysia hold just four percent of jobs in the civil services compared to six percent by Chinese who have doubled their presence since 2007.

The number of applications from Chinese Malaysians and their appointments in civil services rose by 100 percent last year compared to the figure in 2007, …. Original source  : More Chinese than Indians in Malaysia’s civil services.

Investors buy ING’s Canadian industrial properties for C$2 billion; ING sells majority stake

Investors pay C$2B for ING’s Canadian properties

AMSTERDAM – A pair of private equity investors will buy ING Summit Industrial Fund LP, a portfolio of light industrial properties in Canada, for 2 billion Canadian dollars, the Dutch bank ING Groep NV said Friday.
ING owns 50 percent of Summit outright, and 7.8 percent via an Australian fund …. Source article on Gaea Times at  : Investors buy ING’s Canadian industrial properties for C$2 billion; ING sells majority stake.

New video gives fullest picture yet of conditions for 33 men trapped in Chilean mine

New video gives tour of trapped miners’ refuge

COPIAPO, Chile – The first video released of the 33 men trapped deep in a Chilean cooper mine shows the men stripped to the waist and appearing slim but healthy, arm-in-arm, singing the national anthem and yelling “long live Chile, and long live the miners!”
Only about five minutes …. Read the original article  : New video gives fullest picture yet of conditions for 33 men trapped in Chilean mine.

4,000 trees in Patna zoo face the axe for airport safety

PATNA – Nature lovers are concerned over the Bihar government’s plans to cut or prune nearly 4,000 trees in the Patna zoo for airport safety, as they say it is the only green cover for the city’s two million people.

The zoo is formally known as the Sanjay Gandhi Biological Park and houses a variety …. Source article on Gaea Times at  : 4,000 trees in Patna zoo face the axe for airport safety.

Asian stock waver as investors await Bernanke’s speech amid recovery worries

Asian stocks mixed ahead of Bernanke’s speech

SHANGHAI – Asian markets wavered Friday as investors fretful over the pace of economic recovery awaited a speech later in the day by Federal Reserve Chairman Ben Bernanke, and the latest data on the state of the U.S. economy.
Global markets have been rattled in recent weeks by signs that … Read more »».