Asian stock markets encouraged by Portugal debt auction, softer yen; Europe mixed

Asian shares mostly rise as Europe worries ease

SHANGHAI – World stocks were mostly higher Thursday as news of a successful bond sale by Portugal eased worries over Europe’s debt woes. But Chinese shares fell on fears that authorities might do more to cool the property sector.
European markets were mixed in early trading, with Britain’s FTSE … Read : Asian stock markets encouraged by Portugal debt auction, softer yen; Europe mixed.

China shares fall on renewed fears of property curbs ahead of monthly economic data

China shares fall on renewed property curb fears

SHANGHAI – Chinese shares fell Thursday on fears of possible new government curbs on real estate as investors waited for monthly economic data.
The benchmark Shanghai Composite Index lost 38.94 points, or 1.4 percent, to close at 2,656.35. The Shenzhen Composite Index for China’s smaller second exchange also shed …. Original article  : China shares fall on renewed fears of property curbs ahead of monthly economic data.

Massive diamond unearthed from Lesotho mine

LONDON – A magnificient 196-carat rough white diamond has been unearthed at a mine in Lesotho, the firm owning the mine said here. The find is, however, dwarfed by the Cullinan diamond.

The diamond that measures 1.18 inches across is expected to get a “substantial” price when it is sold by Gem Diamonds. The dazzling rock …. Source  : Massive diamond unearthed from Lesotho mine.

India car sales hit all-time high in August on holiday buying despite rising prices

India car sales hit all-time high in August

MUMBAI, India – Car sales in India surged to a record for a second straight month in August on strong demand before the holiday season, despite rising prices and supply constraints.
Figures released Thursday by the Society of Indian Automobile Manufacturers showed that car sales hit 160,794 vehicles in … Read : India car sales hit all-time high in August on holiday buying despite rising prices.

Prices of pulses, fruits keep India’s food inflation high

NEW DELHI – High prices of pulses, fruits and milk pushed up India’s annual food inflation higher to 11.47 percent for the week ended Aug 28 from 10.86 percent for the week before, official data released Friday showed.

The annual inflation rate for the primary articles groups also inched up higher to 15.4 percent from 15.19 … Read : Prices of pulses, fruits keep India’s food inflation high.

Korea National Oil Corp. rules out higher bid for UK’s Dana Petroleum

KNOC rules out higher bid for UK’s Dana Petroleum

LONDON – Korea National Oil Corp. says it won’t raise its hostile takeover bid for Britain’s Dana Petroleum.
The statement released Thursday follows Dana’s publication of a defense document which argued that the company was worth significantly more than KNOC’s offer of 1.87 billion pounds ($2.9 billion), or …. Original article  : Korea National Oil Corp. rules out higher bid for UK’s Dana Petroleum.

Karzai’s brother used Kabul Bank funds to make a killing

LONDON – Afghan President Hamid Karzai’s brother made a half-million pound profit in eight months on a high-end villa in Dubai bought with a loan from the troubled Kabul Bank.

Mahmoud Karzai, a high-profile businessman in Afghanistan, borrowed seven million UAE dirhams (1.23 million pounds) from Kabul Bank, in which he is also the third …. Read the original article  : Karzai’s brother used Kabul Bank funds to make a killing.

Alliance to build residential, commercial projects in Chennai

CHENNAI – Expecting a steady demand, Bangalore-based real estate developer Alliance has shifted focus to Chennai and is looking at developing projects of five acres or less to grow big in the city.

“The city has a healthy mix of industries unlike Bangalore, Hyderabad which are software focused. The market will be good for us as …. Original article on Gaea Times at  : Alliance to build residential, commercial projects in Chennai.

Gov’t forecast: Moderate spending increase as 32 million gain coverage under health overhaul

Gov’t: Spending to rise under health care overhaul
WASHINGTON – The nation’s health care tab will go up – not down – as a result of President Barack Obama’s sweeping overhaul. That’s the conclusion of a government forecast released Thursday, which also finds the increase will be modest.
The average annual growth in … Original source on Gaea Times at : Gov’t forecast: Moderate spending increase as 32 million gain coverage under health overhaul.

Protect environment for sustainable development: Sonia

NEW DELHI – Farmers should get adequate compensation for their land, Congress president Sonia Gandhi said Thursday and stressed that the environment should be protected to ensure sustainable development.

“We must protect the environment to ensure sustainable development. In whatever we do, we should not forget forest and environment. Farmers should be provided adequate compensation,” Gandhi …. Original article on Gaea Times at  : Protect environment for sustainable development: Sonia.

Lanco achieves financial closure of Orissa power project

MUMBAI – Lanco Infratech Thursday said a 1,320 MW thermal power plant in Orissa, developed by group firm Lanco Babandh Power, has achieved financial closure.

“The project, estimated to cost Rs.6,930 crore, would be financed with a debt of Rs.5,544 crore and an equity of Rs.1,386 crore,” said the company in a regulatory filing. … Original article on : Lanco achieves financial closure of Orissa power project.

Euro slides to $1.2693, reversing slight gains on Portuguese bond auction

Euro slides to $1.2693
BERLIN – The euro has slipped back below $1.27, giving up slight gains it made thanks to a relatively successful bond auction in Portugal.

The euro bought $1.2693 in Thursday morning European trading, down from $1.2724 in New York late Wednesday.
Strong investor interest in Wednesday’s Portugese auction helped assuage concerns over the indebted … Read this article on Gaea Times at : Euro slides to $1.2693, reversing slight gains on Portuguese bond auction.

Indian tea prices firming up, exports up, production down

GUWAHATI – The beleaguered Indian tea industry is on a comeback trail with exports increasing and prices firming up in the weekly auctions despite adverse climatic conditions hitting production and rampant pests eating away the crop in some areas.

“Exports rose by about 14 million kg to 107 million kg from January to August, compared to …. Source article  : Indian tea prices firming up, exports up, production down.

Cuba’s communist system gets panned by unlikely source _ revolutionary leader Fidel Castro

Fidel latest to say Cuba’s communism doesn’t work

HAVANA – Cuba’s communist economic model has come in for criticism from an unlikely source: Fidel Castro.
The revolutionary leader told a visiting American journalist and a U.S.-Cuba policy expert that the island’s state-dominated system is in need of change, a rare comment on domestic affairs from a man …. Read the original article  : Cuba’s communist system gets panned by unlikely source _ revolutionary leader Fidel Castro.

Google launches ‘Instant’ service

LONDON – Google search is now faster than before as the company has launched a live-updating service that will save surfers 2-5 seconds of online search time.

The product, named “Instant”, will begin to roll out search results around the world from Thursday night, the Daily Telegraph reported.
Google searches will now predict … Read more >>.

Expat embraces Indian Dynamism; launches website to support charity

New Delhi, Sept.9 (ANI-Business Wire India): A simple vision of one person has helped build an empowered organization that supports many charities in India.

With an intention of creating an avenue for people to learn more about her work, the charities supported by and how people …. Original article  : Expat embraces Indian Dynamism; launches website to support charity.

Wipro, Oracle strengthen ties, to foster growth for customers

Bangalore (Karnataka), Sept.9 (ANI-Business Wire India): Wipro Technologies, the global IT services division of Wipro Limited and Oracle have announced an expansion of their existing partnership aimed at enhancing development and implementation of best-in-class solutions for customers.

Wipro joins Oracle … Read more >>.

Instamedia secures 4 mln dollar investment from Times of India Group

Shimla (Himachal Pradesh), Sept.9 (ANI-Business Wire India): Instamedia Network, the web’s leading content network and creator of Software as a Service (SaaS) based content platform, Instapress, has secured a four million dollar in Series A funding from Times Internet Limited, … Read more : Instamedia secures 4 mln dollar investment from Times of India Group.

Spanish miners stay underground to demand pay arrears

Madrid, Sep 9 (IANS/EFE) Two groups of Spanish coal miners are staging protests by refusing to surface from mines to demand payment of back salaries and a lasting solution to the problems of the sector.

Fifty-two miners working for the Union Minera del Norte, or Unisma company, have enclosed themselves up at that firm’s … Original article on : Spanish miners stay underground to demand pay arrears.

Oil hovers near $75 in Asia after report shows US crude supplies drop more than expected

Oil hovers near $75 amid US crude supply drop

SINGAPORE – Oil prices hovered near $75 a barrel Thursday in Asia after a report showed U.S. crude inventories fell more than expected, suggesting demand may be improving.
Benchmark oil for October delivery was up 1 cent at $74.68 a barrel at midday Singapore time in electronic trading …. Original article on Gaea Times at  : Oil hovers near $75 in Asia after report shows US crude supplies drop more than expected.