India’s corrupt siphoned out $125 bn in eight years: Report

WASHINGTON – More than $125 billion worth of funds meant for the uplift of Indians were illegally siphoned out of the country by corrupt politicians and corporates between 2000 and 2008, hindering inclusive growth, says to a leading think tank here.

“Much of the funds flowing out are generated at home within India and then sent …. Source article on Gaea Times at  : India’s corrupt siphoned out $125 bn in eight years: Report.

Work on two more fast breeder reactors begins

CHENNAI – India’s fast breeder reactor operator Bharatiya Nabhikiya Vidyut Nigam Ltd (Bhavini) has started preliminary work for the construction of two more units at Kalpakkam in Tamil Nadu.

“The government has released Rs.250 crore to carry out preliminary activities towards setting up of two more 500 MW fast reactors at Kalpakkam (around 80 km from …. Source article  : Work on two more fast breeder reactors begins.

Report: Iran says IAEA makes dangerous mistake on Tehran nuclear program

Iran: IAEA in error over Tehran nuclear program

TEHRAN, Iran – Iran’s nuclear chief has called remarks by the head of the U.N.’s atomic energy agency a dangerous mistake.
According to the state news agency Tuesday, Ali Akbar Salehi said “if Mr. Amano has expressed the remarks knowingly, he has committed a big mistake.”
Salehi said the situation …. Source article  : Report: Iran says IAEA makes dangerous mistake on Tehran nuclear program.

With GOP defection, small business measure likely to clear Senate procedural hurdle

Small business measure set to clear Senate hurdle
WASHINGTON – President Barack Obama is poised to win a long-sought victory as Senate Democrats appear likely to win a key vote that would clear the way for a bill creating a $30 billion government fund to help open up lending for credit-starved small businesses.
Sen. George … Read more >>.

Decline in Indian coffee productivity levels alarming: Upasi

COONOOR – The United Planters’ Association of Southern India (Upasi) has expressed concern over the alarming decline in productivity levels of coffee during the last decade.

“The magnitude of decline in our coffee productivity levels is quite alarming, as yields have declined 9.9 percent since 2000,” outgoing Upasi president T.V. Alexander told IANS here.
The yield …. Read the original article  : here.

Ice-cream, microwave ovens now in India’s inflation basket

NEW DELHI – Ice-cream, microwave ovens, mineral water and dish antenna are among 241 new items in the basket of commodities making up the official wholesale price index in a bid to reflect changes in India’s price line and consumption pattern better.

Commerce and Industry Minister Anand Sharma Tuesday unveiled the new index that is used … Original source on Gaea Times at : Ice-cream, microwave ovens now in India’s inflation basket.

Star Union Dai-ichi to target SMEs for group insurance

CHENNAI – Star Union Dai-ichi Life Insurance Company is targeting small and medium enterprises (SME) which are clients of its two promoter banks- Bank of India Union and Bank of India- for its group insurance products.

“We are focused on the SMEs which are clients of our promoter banks for our group products. We will be …. Source article  : Star Union Dai-ichi to target SMEs for group insurance.

Asian stock markets mixed amid higher Japanese yen, Japanese leadership fight

Asian shares mixed amid higher yen
SEOUL, South Korea – Asian stock markets were mixed Tuesday despite a healthy gain on Wall Street as the dollar retreated to a new 15-year low against the yen and Japan’s prime minister survived a leadership challenge.

Japan’s Nikkei 225 stock average fell 0.2 percent to 9,299.31 points, a turnaround from …. Source  : Gaea News Network.

Free gifts thrill shoppers as much as pornography

LONDON – A coupon or a free gift with a jar of jelly or a loaf of bread thrills shoppers just as much as pornography does, says a new study.

Researchers wired up 50 male and female volunteers and monitored their eye movements and emotional responses to a series of common consumer products.
Some featured a … Read this article on Gaea Times at : Free gifts thrill shoppers as much as pornography.

Harley-Davidson board expected to confirm Wis. plants to stay open after unions agree to deal

Harley board to review union’s OK of labor deal

WAUKESHA, Wis. – Harley-Davidson Inc.’s three Wisconsin unions have agreed to a contract with steep concessions. Now it’s up to the company to confirm it won’t move its production out of the state.
Harley’s board of directors was scheduled to review the voting results Tuesday from the unions, …. Source  : Harley-Davidson board expected to confirm Wis. plants to stay open after unions agree to deal.

China’s currency hits fresh high against US dollar, as pressure on trade imbalance mounts

China’s currency hits fresh high against US dollar

SHANGHAI – China’s currency advanced to a fresh high against the U.S. dollar for the third straight trading day Tuesday, as U.S. lawmakers prepared for hearings on Beijing’s foreign exchange policies.
China’s central bank set the yuan-dollar parity rate at 6.7378 on Tuesday, after putting it at 6.7509 on …. Original article  : China’s currency hits fresh high against US dollar, as pressure on trade imbalance mounts.

Japanese prime minister survives leadership challenge after ruling party re-elects him chief

Japanese PM wins party vote, will stay in power

TOKYO – Japanese Prime Minister Naoto Kan was re-elected president of the ruling Democratic Party on Tuesday, surviving a challenge from a veteran powerbroker and sparing Japan another leadership change as it deals with a sluggish economy.
Kan, in office just three months, defeated party heavyweight Ichiro Ozawa … Read more >>>.

Plantation sector asks government to share social cost burden

COONOOR – Planters of coffee, tea, spices and rubber of south India here Tuesday urged the government to share 50 percent of the cost of social and welfare benefits they are compelled to bear under law.

“Commodity plantations is the only sector in the country mandated to provide social and welfare benefits to their employees …. Source  : Plantation sector asks government to share social cost burden.

AP-CNBC Poll: Investors less confident about trading stocks in wake of market turmoil

AP-CNBC Poll: Investors wary of stock trading

WASHINGTON – Wild gyrations on Wall Street have made U.S investors leery of buying individual stocks and skeptical that the market is a fair place to park their money.
In an Associated Press-CNBC poll of investors, 61 percent said the market’s recent volatility has made them less confident about buying … Original article on : AP-CNBC Poll: Investors less confident about trading stocks in wake of market turmoil.

Japan PM faces powerful challenger in leadership vote that could give country a new leader

Japan leadership battle Tuesday could bring new PM

TOKYO – Japan’s prime minister and his powerful challenger made impassioned appeals to fellow party members ahead of a ruling party vote Tuesday that could give the country its third premier in a year.
Ichiro Ozawa, an old-school power-broker who has been in parliament for 40 years, is seeking … Read more : Japan PM faces powerful challenger in leadership vote that could give country a new leader.

US invests in R&D to compete with China, India: Obama

WASHINGTON – President Barack Obama says his administration had made the largest investment in research and development in history so that the US can compete with China and India and Germany over the long term.

Defending his economic policies as the US battles its worst recession in decades, he lashed out at lashed out at … Read more : US invests in R&D to compete with China, India: Obama.

Cuba to cut 500,000 state jobs

Havana, Sep 14 (IANS/EFE) The Cuban government has announced that it will immediately initiate changes in its employment policy that will include, among other things, cutting more than 500,000 workers from the state payroll through the first half of 2011.

The CTC – Cuba’s only legal union – Monday published a “pronouncement” that for the first … Read the original article on Gaea Times at : Cuba to cut 500,000 state jobs.

Maine GOP gubernatorial candidate angrily deflects questions about tax exemption

Maine gov candidate deflects questions about taxes

AUGUSTA, Maine – Maine Republican gubernatorial candidate Paul LePage angrily deflected questions about taxes paid on a Florida home at a news conference to present his plan to create jobs in a state he said “desperately needs” more jobs.
After concluding his presentation Monday, LePage was asked several questions about …. Source article on Gaea Times at  : Maine GOP gubernatorial candidate angrily deflects questions about tax exemption.

Net bargainers in high demand in China

BEIJING – Online shopping in China has become easier as people can now avail of services of middlemen who dicker for lower prices with e-retailers on behalf of the buyers.

The middlemen, who charge a small amount of the discount they get the buyers, are called “net bargainers”, and the service is booming amid China’s fast-growing … Read this article on Gaea Times at : Net bargainers in high demand in China.

Sensex rises 143 points in morning trade

MUMBAI – A benchmark index for Indian equities continued to rise Tuesday, moving up 143 points in opening trade after a robust showing in the previous session.

The 30-scrip sensitive index of the Bombay Stock Exchange (BSE), which opened at 19,218.13 points, was at 19,352.28 points – 0.75 percent up from its previous close at 19,208.33 …. Source  : Gaea News Network.