China rejects currency pressure amid visit by US envoys, says Beijing will set pace of change

China rejects currency pressure amid US visit

BEIJING – China rejected pressure over currency Tuesday amid a visit by two high-level U.S. envoys, saying Beijing will set the pace of exchange rate reforms.
Currency has re-emerged as an irritant in U.S.-Chinese relations as American leaders face pressure to create jobs ahead of November elections. Lawmakers who want … Read this article on Gaea Times at : China rejects currency pressure amid visit by US envoys, says Beijing will set pace of change.

Strike paralyses parts of India (Afternoon Lead)

KOLKATA/NEW DELHI – Millions of people struck work and scores of flights were cancelled as a 24-hour nationwide strike called by eight trade unions against rising prices and privatisation disrupted life in parts of India, particularly those ruled by Left parties.

The strike was virtually complete in the Communist Party of India-Marxist (CPI-M) ruled states … Read the original article on Gaea Times at : Strike paralyses parts of India (Afternoon Lead).

Travel misery for millions as Tube strike hits London

LONDON – A strike by workers on the London Underground (Tube) caused severe disruption and delays for millions of travellers Tuesday, early reports showed.

Maintenance staff, drivers and station employees joined a 24-hour strike called by unions in protest against staff cuts which they claim pose a threat to security on the line and at unmanned …. Read the original article  : Travel misery for millions as Tube strike hits London.

High gold prices leave Ahmedabad’s small time jewelers worried

AHMEDABAD – At least 60 percent of small-scale jewellery businesses have been affected in Ahmedabad as the price of gold increasing.

With the festival season round the corner, the number of customers at jewellery shops is dwindling, leaving shopkeepers worried.

“Ahmedabad …. Source article  : High gold prices leave Ahmedabad’s small time jewelers worried.

Sensex holding up, but choppy

MUMBAI – A benchmark index for Indian equities opened on a positive note Tuesday and is ruling 61 points higher than its previous close in afternoon trade.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,571.73 points, is at 18,623.53 points, 63.48 points or 0.34 percent up from its previous …. Source  : Gaea News Network.

Report: China passenger car sales up 18 percent in August, on subsidies, lower prices

Report: China passenger car sales up 18 pct in Aug

SHANGHAI – Sales of passenger cars in China – the world’s biggest market – rose 18 percent in August from a year earlier, a report said Tuesday, as government subsidies and price cuts by dealers helped spur demand.
Passenger car sales totaled 1.02 million vehicles in August, … Original source on Gaea Times at : Report: China passenger car sales up 18 percent in August, on subsidies, lower prices.

Kolkata-Dhaka Maitree Express cancelled Sept 11-12

NEW DELHI – Maitree Express, running between Kolkata and Dhaka, will not make its weekend trips this week on account of Eid.

A decision to cancel the weekend trips of the bi-weekly train, leaving Kolkata Sept 11 and returning from Dhaka the following day, has been taken on the request of Bangladesh Railway, said an official [..] Read the original article: here.

Indian firms to up hiring in October-December quarter: Survey

NEW DELHI – Indian companies are planning to add headcount to their payrolls in the quarter ending December, with education sector leading the way, according to a survey released Tuesday.

“Job seekers can remain excited about new job opportunities in India as India’s employers expect the hiring momentum to continue at a robust pace going into …. Source  : Gaea News Network.

Finnair to start daily Helsinki-Delhi service from January

HELSINKI – Nordic carrier Finnair will start a daily service between Helsinki and New Delhi from the first week of January while making takeoff and landing times from and to the Indian capital more convenient for passengers soon.

“Our passenger load factor has been the highest from Asia, notably India. We are waiting for deliveries of …. Original article  : Finnair to start daily Helsinki-Delhi service from January.

Trade unions’ strike hits life, businesses in Orissa

BHUBANESWAR – The one-day nationwide shutdown called by eight trade unions Tuesday partially hit normal life and businesses in several industrial towns of Orissa.

The roads were deserted in Rourkela, Sundergarh, Jharsuguda and Berhampur as the operators kept buses and commercial vehicles off the roads, a senior state police official told IANS.
Mining operations in …. Original source  : Trade unions’ strike hits life, businesses in Orissa.

Barclays CEO John Varley to retire, investment bank head Robert Diamond to move up

Barclays CEO John Varley to step down
LONDON – John Varley, who guided Barclays bank through the credit crisis without resorting to a government bailout, will retire next year as chief executive, to be succeeded by the head of the group’s highly profitable investment banking operation, the company said Tuesday.

Robert E. Diamond Jr., 59, will take …. Source  : Barclays CEO John Varley to retire, investment bank head Robert Diamond to move up.

Industrialists, economists slam frequent strikes

KOLKATA – As West Bengal slipped into yet another unproductive day Tuesday, thanks to a national strike called by trade unions, industrialists and economists felt that such shutdowns only inconvenienced people and led to loss of business.

Sanjay Budhia, chairman, Confederation of Indian Industry (CII) National Committee on Exports, told IANS: “Bandhs (shutdowns) mean loss of …. Original article  : Industrialists, economists slam frequent strikes.

Strike is 99 percent successful: INTUC chief Sanjeeva Reddy

NEW DELHI – More than 100 million workers across India took part in the one-day strike called by eight trade unions Tuesday, said G. Sanjeeva Reddy, president of the Congress-backed INTUC, who claimed that the protest had the backing of party chief Sonia Gandhi.

“The strike is 99 percent successful,” Reddy, a Rajya Sabha MP and …. Read the original article  : Strike is 99 percent successful: INTUC chief Sanjeeva Reddy.

Sharp decline in labour exodus, says Chhattisgarh

RAIPUR – The Chhattisgarh government Tuesday said the number of people migrating out of the state in search of jobs has seen a sharp decline, but the opposition dismissed this as a tall claim.

“Just 40,884 workers migrated from the state in fiscal year 2009-10, which is 10 times lower than the figure of 565,000 in … Original article on : Sharp decline in labour exodus, says Chhattisgarh.

Oil falls to below $74 in Asia as investors eye strength of US economy, crude demand

Oil falls below $74 as traders look to US economy

SINGAPORE – Oil prices fell to near $74 a barrel Tuesday in Asia as investors mull the strength of the U.S. economy and demand for crude.
Benchmark oil for October delivery was down 83 cents at $73.77 a barrel at late afternoon Singapore time in electronic trading … Original source on Gaea Times at : Oil falls to below $74 in Asia as investors eye strength of US economy, crude demand.

More contests, more at stake, looser rules send election spending into the stratosphere

No recession here: Election spending sets records

WASHINGTON – Turns out politics, for all its focus on the gloomy economy, is a recession-proof industry.
This year’s volatile election is bursting with money, setting fundraising and spending records in a high-stakes struggle for control of Congress amid looser but still fuzzy campaign finance rules.
Based on the latest financial …. Source article on Gaea Times at  : More contests, more at stake, looser rules send election spending into the stratosphere.

Jets’ Revis calls visit from Ryan, Johnson ‘breakthrough’ in contract negotiations

Rex, Woody visit helped seal Revis deal for Jets

FLORHAM PARK, N.J. – Darrelle Revis and Rex Ryan looked at each other, huddled in a conference room in Florida, and immediately knew they had the same game plan.
The New York Jets’ star cornerback wanted to get back on the football field.
The brash and boisterous coach badly … Read : Jets’ Revis calls visit from Ryan, Johnson ‘breakthrough’ in contract negotiations.

London commuters struggle to work as strike over job cuts shuts much of subway system

London commuters struggle as strike closes subway

LONDON – Millions of Londoners are struggling to get to work by road, rail boat and bicycle as a strike by London Underground workers shuts down much of the city’s subway system.
Thousands of maintenance workers, drivers and station staff walked off the job for 24 hours in a dispute …. Source  : London commuters struggle to work as strike over job cuts shuts much of subway system.

Poor response in Bangalore to strike call

BANGALORE – Public sector banks were shut but life was near normal as Bangalore saw little response to the nationwide strike called by trade unions Tuesday against price rise and privatisation.

There was poor response to the strike in other parts of Karnataka like Mangalore, Hubli, Shimoga, Davangere and Mysore as well.
In Bangalore, schools, … Read the original article on Gaea Times at : Poor response in Bangalore to strike call.

Nationwide strike cripples life in Tripura

AGARTALA – The nationwide industrial strike called by major trade unions to protest increasing prices and privatisation crippled life in Left-ruled Tripura.

“The strike was total with people expressing their anger against price rise, retrenchment, underpayment, poverty and many of the economic policies of the UPA (United Progressive Alliance) government,” Centre of Indian Trade Unions (CITU) …. Source  : Nationwide strike cripples life in Tripura.