Sunday, September 26, 2010

Business News – Newsletter for September 26, 2010

Sunday, September 26, 2010


Tomato prices to shoot up as rains hit yield in Himachal

SHIMLA – Tomatoes are going to drill a hole in consumers’ pockets in north India in the coming months as incessant rains have destroyed at least 60 percent of the crop in Himachal Pradesh.

Trade representatives said 60-70 percent of the crop in the state had perished, pushing up prices in north Indian cities.
“More than …. Original article  : Tomato prices to shoot up as rains hit yield in Himachal.

Bangladesh discovers gas field with huge reserves

DHAKA – A new gas field with a possibility of a two to three trillion cubic feet (tcf) reserve has been found in Bangladesh, an official said.

The gas structure in the Sunamganj-Netrakona districts of the northeastern region has been discovered by the state-run Bangladesh Petroleum Exploration Company (Bapex).
The company is preparing to drill …. Source  : Gaea News Network.

Umps monitoring balls at Coors Field after Giants raise concern about ‘juiced’ balls with MLB

Giants concerned about Rockies using juiced balls

DENVER – Umpires are keeping a close eye on game balls at Coors Field after the San Francisco Giants expressed concern to the commissioner’s office that the Colorado Rockies might be using “juiced” balls when they’re batting.
Major League Baseball spokesman Pat Courtney confirmed that umpires were instructed to monitor … Read : Umps monitoring balls at Coors Field after Giants raise concern about ‘juiced’ balls with MLB.

Delhi Metro to reserve coach for women from Oct 2

NEW DELHI – One coach in all Delhi Metro trains will be reserved for women from Oct 2 in order to decongest the bogies.

The reserved ladies’ coach will be the first after the driver’s cab in every train. Children up to 12 years, accompanied by women passengers, will also be allowed to travel in …. Original article on Gaea Times at  : Delhi Metro to reserve coach for women from Oct 2.

Systems crash strands thousands at Australia airports

SYDNEY – Thousands of Virgin Blue passengers in Australia were stranded at airports across the country after the airline’s check-in system crashed Sunday morning.

The check-in system crashed just after 8 a.m., sending travel plans into chaos with some flights cancelled, Sydney Morning Herald reported.
“We’ve been advised the cause is an external supplier’s hardware …. Source article  : Systems crash strands thousands at Australia airports.

Balmer Lawrie plans four multi-modal logistics hub

KOLKATA – State-owned diversified conglomerate Balmer Lawrie is planning to set up four multi-modal logistics hub in the country in four zones — east, west, north and south, a top official said here.

“We are planning to set up a multi-modal logistics hub in Vizag (Vishakhapatnam) and eventually in other parts of the country. We have …. Source  : Balmer Lawrie plans four multi-modal logistics hub.

Art treasures of the failed bank Lehman Brothers auctioned off in NYC

Lehman Brothers art auctioned off in NYC
NEW YORK – Lehman Brothers may have blundered its way to disaster on Wall Street, but at least the bank’s art curators knew what they were doing.

Sotheby’s says an auction of contemporary artworks held by the failed investment firm and its former subsidiary, Neuberger Berman, brought in nearly $12.3 …. Original article on Gaea Times at  : Art treasures of the failed bank Lehman Brothers auctioned off in NYC.

AIG expects Asian unit to make more than $2 billion this year

AIG says AIA will make more than $2B this year

NEW YORK – American International Group Inc. says the Asian life insurance unit it plans to spin off will make an operating profit of at least $2 billion this fiscal year.
AIG disclosed the forecast for AIA Group on Saturday. AIA reported pretax profit of $1.3 billion … Original article on : AIG expects Asian unit to make more than $2 billion this year.

Egypt minister appointed World Bank Managing Director

Cairo, Sep 26 (IANS/RIA Novosti) Egyptian Investment Minister Mahmoud Mohieldin resigned from the government to become Managing Director of the World Bank, Egypt’s official news agency MENA reported.

Egyptian President Hosni Mubarak accepted the resignation Saturday.
Industry and Trade Minister Rashid Mohammed Rashid has been appointed as the acting investment minister. He will also retain his …. Source article  : Egypt minister appointed World Bank Managing Director.

Palestinian leader says Israel must choose between peace or continuation of settlements

Abbas says settlements block Mideast peace deal

UNITED NATIONS – Palestinian President Mahmoud Abbas said Saturday there will be no peace deal with Israel unless the Jewish state stops settlement construction in areas the Palestinians claim for their future state.
“Israel must choose between peace and the continuation of settlements,” Abbas said in his address to the …. Original source  : Palestinian leader says Israel must choose between peace or continuation of settlements.

In Minn. governor’s race, polarized parties create opening for candidate from party of Ventura

Polarized Minn. gov. race leaves opening for indie

MINNEAPOLIS – An independent candidate for Minnesota governor hoping to follow in Jesse Ventura’s footsteps is showing surprising strength in a race against a Democrat and a Republican at polar ends of the political spectrum.
Tom Horner, a moderate former Republican and savvy public relations operative, hopes to harness …. Original source  : In Minn. governor’s race, polarized parties create opening for candidate from party of Ventura.

AP Poll: Americans who want health law to go further outnumber those who want govt to stay out

AP Poll: Many think health overhaul should do more

WASHINGTON – President Barack Obama’s health care overhaul has divided the nation, and Republicans believe their call for repeal will help them win elections in November. But the picture’s not that clear cut.
A new AP poll finds that Americans who think the law should have done more …. Read the original article  : here.

Indiana Democrat in Senate race faces a tough go amid a bad economy and little money for TV

Money, economy hobble Democrat in Ind. Senate race

WABASH, Ind. – Democrat Brad Ellsworth had just leveled an attack – one he acknowledged was incomplete at best – against his Republican rival for the open Senate seat in Indiana when he asked reporters what they wanted to know.
“When are you going back on TV?” came the … Read this article on Gaea Times at : Indiana Democrat in Senate race faces a tough go amid a bad economy and little money for TV.

Some see Clinton’s campaign appearance for Barney Frank as sign Mass. Democrat is vulnerable

Rep. Frank denies Clinton stop indicates weakness

BOSTON – When it was announced that former President Bill Clinton would make a campaign appearance for U.S. Rep. Barney Frank, more than a few eyebrows went up.
Sure, it’s a year when incumbents of every political stripe are squirming. And the fast-talking, sharp-witted Massachusetts Democrat certainly has his share …. Read the original article  : here.

North Dakota law helps protect local pharmacies by preventing big chains from opening stores

ND protects small pharmacies from big box stores

NEW ROCKFORD, N.D. – Some of the nation’s largest retailers can’t open pharmacies in North Dakota because of a state law that says most drugstores must be owned by a pharmacist.
The law’s supporters say it has helped keep pharmacies in business in rural North Dakota and improved access …. Original article on Gaea Times at  : North Dakota law helps protect local pharmacies by preventing big chains from opening stores.

Jewish settlers in West Bank eagerly prepare for end of construction restrictions

Israel: Settlers brace for end of building freeze

JERUSALEM – Israeli settlers have hauled bulldozers, cement mixers and other construction equipment into a Jewish settlement deep inside the West Bank, Israeli and Palestinian officials said Saturday, a day before the end of a government-mandated halt to settlement building.
The lifting of the construction restrictions late Sunday presents … Read more »»».

China rises and rises, yet still gets hefty foreign aid, and some donors are wondering why

China rises and rises, yet still gets foreign aid

BEIJING – China spent tens of billions of dollars on a dazzling 2008 Olympics. It has sent astronauts into space. It recently became the world’s second largest economy. Yet it gets more than $2.5 billion a year in foreign government aid – and taxpayers and lawmakers in …. Source article on Gaea Times at  : China rises and rises, yet still gets hefty foreign aid, and some donors are wondering why.

Ford to open new engine plant in China, doubling capacity

Ford to open new engine plant in China
CHONGQING, China – Ford and Chinese partner, Changan Ford Mazda Automobile Ltd., plan to build a $500 million engine plant in China.

They signed a memorandum of understanding with the city of Chongqing on Saturday.
Construction is to begin next year with engine production starting in 2013. The plant can …. Original article  : Ford to open new engine plant in China, doubling capacity.

Japan rejects China’s demand for apology, compensation over arrest of boat captain

Japan rejects China’s demand for apology
BEIJING – Japan strongly rejected a Chinese demand on Saturday that it apologize for detaining a Chinese fishing boat captain whose arrest after a collision near disputed islands plunged relations between the two Asian powers to their lowest level in years.

Japanese authorities released the captain, Zhan Qixiong, early Saturday and … Original article on : Japan rejects China’s demand for apology, compensation over arrest of boat captain.

Indian firm helps build water park in UAE

Ras al-Khaimah (UAE), Sep 25 (IANS/WAM) An ice-themed water park in the Arabian Gulf, where penguins can be seen frolicking in the waters, was built at a cost of $100 million by a joint venture of Indian and UAE firms and will open for the public Sep 29.

The Ice Land Water Park, built in the … Read more : Indian firm helps build water park in UAE.

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