Business News – Newsletter for September 29, 2010
Wednesday, September 29, 2010
Japanese foreign minister: China must resolve detention of 4 Japanese to mend frayed ties
Japan: China must resolve detention of 4 Japanese
TOKYO – China needs to resolve the case of four Japanese nationals it is holding as the first step toward repairing ties that have been strained over a territorial dispute, Japan’s foreign minister Wednesday.
Japanese trading company officials, meanwhile, said China appeared to have lifted a de facto ban …. Original source : Japanese foreign minister: China must resolve detention of 4 Japanese to mend frayed ties.
Tight security in Bengal ahead of Ayodhya verdict
KOLKATA – Security was tightened in sensitive areas of West Bengal Wednesday to prevent any untoward incident in the state ahead of the court verdict on the Ramjanmabhoomi-Babri Masjid land dispute at Ayodhya, officials said.
“Armed police and Rapid Action Force (RAF) personnel have been mobilised in Kolkata,” a senior police officer said.
There is … Read more »».
Rajiv Jain new chairman of Gem & Jewellery Export Promotion Council
MUMBAI – Rajiv Jain and Sanjay Kothari have been appointed chairman and vice chairman of the Gem and Jewellery Export Promotion Council(GJEPC) for 2010-12, a GJPEC official said here Wednesday.
Jain is promoter-director of Vaibhav Gems, first company from the industry to be listed in stock markets in India.
Kothari is a director of …. Read the original article : Rajiv Jain new chairman of Gem & Jewellery Export Promotion Council.
Sterlite to appeal against Madras High Court order
CHENNAI – Sterlite Industries will appeal against the Madras High Court order closing down its copper smelter plant in Tuticorin.
“We have been informed by the counsels for the company about their decision to go on appeal,” said G. Ramapriya, advocate representing the city-based National Trust for Clean Environment (NTCE).
NTCE has filed a writ …. Original source : Sterlite to appeal against Madras High Court order.
US Senate rejects bill to curb outsourcing
WASHINGTON – The US Senate has rejected a bill that sought to end outsourcing of work to countries like India and create jobs by denying tax cuts to companies that hire a non-citizen to replace a domestic worker.
With Republicans clearly opposed to the move, the bill – which was seen by India as another … Read : US Senate rejects bill to curb outsourcing.
Sterlite plant closure may lead to inflow of sulphuric acid from overseas
CHENNAI – The closure of Sterlite Industries’
Tuticorin smelter plant is likely to result in increased inflow of sulphuric acid from South Korea and neighbouring Andhra Pradesh into Tamil Nadu and Kerala, say industry officials.
The Madras High Court Tuesday ordered immediate closure of the plant for violating various environmental laws and causing pollution.
Sterlite …. Source article : Sterlite plant closure may lead to inflow of sulphuric acid from overseas.
McCourt divorce case to wrap up Wednesday; judge has 90 days to make decision
McCourt divorce case set to conclude Wednesday
LOS ANGELES – A judge will hear closing arguments Wednesday in the divorce trial of Jamie and Frank McCourt that could decide the ownership of the Los Angeles Dodgers.
At issue is whether a postnuptial marital agreement signed by the couple in 2004 is valid under California law. The 10-page …. Source : Gaea News Network.
Asian stocks rise on speculation Fed will introduce more measures to boost US economy
Asian stocks rise amid hopes Fed to act on economy
BANGKOK – Asian stock markets mostly climbed Wednesday, supported by growing speculation that the Federal Reserve is likely to introduce more measures to support the U.S. economy, a key market for Asian exporters.
Japan’s benchmark Nikkei 225 stock average rose 63.62 points, or 0.7 percent, to 9,559.38. …. Original article : Asian stocks rise on speculation Fed will introduce more measures to boost US economy.
‘Relief for PIOs, to be allotted extendable visas only’
PANAJI – Persons of Indian origin (PIO) visiting India will now be issued only long-term extendable visas and not tourist visas, Goa’s Non-Resident Indian (NRI) commissioner Eduardo Faleiro said Wednesday.
Faleiro, a former union minister of state for external affairs, told reporters here that the union government’s visa manual has been revised to ensure …. Source article on Gaea Times at : ‘Relief for PIOs, to be allotted extendable visas only’.
CPSC guidance on children’s product definition could doom science kits for younger children
Kids’ science kits may take hit from safety ruling
WASHINGTON – One of the tools that teachers use to get kids jazzed about science – hands-on science kits – could face an uncertain future amid a debate on safety.
The Consumer Product Safety Commission has been mired for weeks in deliberation as it writes guidelines on what …. Source article : CPSC guidance on children’s product definition could doom science kits for younger children.
US ban on Iranian pistachios leaves California farmers with domestic market
US ban on Iranian pistachios helps Calif. farmers
MADERA, Calif. – California farmers may be the big beneficiaries of a U.S. ban on Iranian pistachios that began Wednesday.
President Barack Obama signed the ban on July 1 in response to Iran’s nuclear policies. It went into effect as California’s farmers were in the midst of their harvest.
The …. Source article on Gaea Times at : US ban on Iranian pistachios leaves California farmers with domestic market.
SUPREME COURT NOTEBOOK: Chief justice sells Pfizer stock to take part in two high court cases
Pfizer stock sold, Roberts to hear company’s cases
WASHINGTON – Chief Justice John Roberts has sold his shares of Pfizer Inc., a move that allows him to participate in two pending Supreme Court cases involving the pharmaceutical maker.
Federal law requires judges to sit out cases if they own even a single share of stock in any [..] Read the original article: here.
More drug plans to cover some brand-name prescriptions in Medicare’s ‘doughnut hole’
More options for seniors with high drug costs
WASHINGTON – Seniors with high drug costs will soon have more options to help them cope with Medicare’s prescription coverage gap.
Reversing a steady decline, the number of prescription plans covering at least some brand-name drugs in the “doughnut hole” coverage gap will triple next year, from 35 to …. Source article on Gaea Times at : More drug plans to cover some brand-name prescriptions in Medicare’s ‘doughnut hole’.
RBI releases ‘Quarterly Statistics on Deposits and Credit of Scheduled Commercial Banks: March 2010???
The Reserve Bank of India today released its ‘Quarterly Statistics on Deposits and Credit of Scheduled Commercial Banks March 2010 (rbi.org.in/scripts/QuarterlyPublications.aspx?head=Quarterly%20Statistics%20on%20Deposits%20and%20Credit%20of%20Scheduled%20Commercial%20Banks) ’. The publication contains data relating to deposits and credit of scheduled commercial banks including regional rural banks (RRBs) as on March 31, 2010. The data are based on …. Read the original article : here.
Too much rain takes crunch out of Himachal apple
SHIMLA – Looks can be deceptive. And this also holds true for apples from Himachal Pradesh, at least this year.
By Vishal Gulati
The deep crimson apples hitting the market from the state are said to be devoid of natural sweetness due to the prolonged monsoon and overcast conditions.
According to horticulture experts, the red apples, …. Read the original article : Too much rain takes crunch out of Himachal apple.
Oil rises to near $77 in Asia after report shows surprise fall in US crude supplies
Oil rises to near $77 on unexpected US supply fall
SINGAPORE – Oil prices rose to near $77 a barrel Wednesday in Asia after a report showed U.S. crude supplies dropped last week, suggesting demand may be improving.
Benchmark crude for November delivery was up 41 cents to $76.59 a barrel at late afternoon Singapore time in …. Source article : Oil rises to near $77 in Asia after report shows surprise fall in US crude supplies.
Asian stocks rise on speculation Federal Reserve will introduce more stimulus measures in US
Asian stocks rise on US stimulus speculation
TOKYO – Asian stock markets climbed Wednesday, supported by growing speculation that the Federal Reserve is likely to introduce more stimulus measures to support the U.S. economy, a key market for Asian exporters.
Japan’s benchmark Nikkei 225 stock average rose 82.69 points, or 0.9 percent, to 9,578.72. Sentiment was upbeat … Read more »»».
AP Source: Barry Diller resigns from Live Nation as chairman in boardroom spat
AP Source: Diller resigns from Live Nation in spat
LOS ANGELES – Barry Diller, the media mogul who claimed credit for the merger of Live Nation and Ticketmaster, said Tuesday he would resign as chairman of the merged company after a boardroom power struggle with another media giant and director, John Malone, according to a person …. Read the original article : here.
Mexican airline to eliminate half of workforce
Mexico City, Sep 29 (IANS/EFE) Mexicana de Aviacion plans to eliminate half of its workforce and reduce its routes and fleet of aircraft by 70 percent with a view to resuming operations in December, authorities and union leaders said.
Union sources with knowledge of the process told EFE that the Mexican airline’s cutbacks will mean …. Source article : Mexican airline to eliminate half of workforce.
Southwest-AirTran combination will influence fares, change booking and boarding for many
Southwest-AirTran deal will change travel for many
Southwest Airlines agreed to buy AirTran this week for $1.4 billion. When the combination is complete, fliers – especially those used to AirTran – will notice plenty of changes, from the way they book to the way they board.
Here’s a look at four ways air travel may change when …. Source article on Gaea Times at : Southwest-AirTran combination will influence fares, change booking and boarding for many.