Britain to cut child benefit payments as part of austerity package

Britain to cut child benefit payments
LONDON – Britain’s government is to scrap child benefit payments for middle income and high-earning families as part of its plan to slash government spending, Treasury chief George Osborne said Monday.

Osborne, who is scheduled to deliver a speech to the Conservative Party’s annual rally in Birmingham, central England, later said … Read more »»».

World stocks mixed amid higher commodity prices, strong data out of China

World stocks mixed amid higher commodity prices

BANGKOK – World stock markets were mixed Monday, with European shares failing to enjoy the boost that Asia received from higher commodity prices and stronger Chinese manufacturing growth.
Oil hovered above $81 a barrel in Asia after a big gain Friday on renewed hopes that demand for crude will improve. …. Source article  : World stocks mixed amid higher commodity prices, strong data out of China.

GMR Energy wins transmission project in Rajasthan

NEW DELHI – GMR Energy Limited (GEL) Monday said it has won two contracts from Rajasthan Rajya Vidyut Prasaran Nigam for a transmission project.

It would set up 400 km of 400 KV transmission lines with two power sub-stations based at Alwar and Deedwana.
The project would be on a build-own-operate-maintain (BOOM) basis, the …. Original article  : GMR Energy wins transmission project in Rajasthan.

Pen Co-operative Urban Bank Ltd., Pen, Raigad, Maharashtra ??? Penalised

The Reserve Bank of India has imposed a penalty of ` 1.00 lakh (Rupees One Lakh only) on Pen Co-operative Urban Bank Ltd., Pen, Raigad, Maharashtra in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949  for … Read : Pen Co-operative Urban Bank Ltd., Pen, Raigad, Maharashtra ??? Penalised.

IVRCL bags projects worth Rs.1119.76 crore

MUMBAI – IVRCL Infrastructure Monday said it has bagged orders worth Rs.1,119.76 crore for various construction projects.

The water division of the company has bagged orders worth Rs.451.22 crore and the building division has won projects worth Rs.440.01 crore, the company said in a regulatory filing.
The company’s transportation division has also got …. Source article on Gaea Times at  : IVRCL bags projects worth Rs.1119.76 crore.

Officials now outcasts in small, scandal-plagued Calif city they have lived in for decades

City scandal makes officials outcasts in hometown

BELL, Calif. – There was a time in this modest blue-collar community when Mayor Oscar Hernandez was all but hailed as a superhero, the big friendly guy who said hello to everybody when he wasn’t busy greeting them at his venerable corner grocery store.
Those days ended abruptly last July … Read more : Officials now outcasts in small, scandal-plagued Calif city they have lived in for decades.

SPIN METER: Government austerity or bailouts? US Chamber of Commerce takes both sides

SPIN METER: Business group turns on past allies

WASHINGTON – During the worst of the economic crisis, the nation’s most powerful business lobby pleaded with Congress to prop up financial institutions and stimulate the economy with hundreds of billions of dollars in borrowed money.
“Make no mistake: When the aftermath of congressional inaction becomes clear, Americans will … Read more »»».

US: China, ASEAN should strengthen Spratlys pact to keep peace, sea lanes open

US: China, ASEAN should strengthen Spratlys pact

MANILA, Philippines – China and the Southeast Asian nations disputing ownership of the Spratlys islands need to turn their 2002 accord into a legally binding code to prevent clashes and keep the vast region open to commerce, the U.S. ambassador said Monday.
China and the 10-member Association of Southeast Asian …. Source  : US: China, ASEAN should strengthen Spratlys pact to keep peace, sea lanes open.

Sanofi-Aventis goes hostile with $69/share offer for US biotech company Genzyme

Sanofi-Aventis launches Genzyme takeover battle

PARIS – France’s Sanofi-Aventis on Monday launched a hostile $18.5 billion takeover offer for Genzyme Corp., stepping up its effort to capture the U.S. biotech company’s promising drugs for high cholesterol and lucrative treatments for rare genetic disorders.
The offer for Cambridge, Massachusetts-based Genzyme – at $69 per share – is unchanged …. Original article  : Sanofi-Aventis goes hostile with $69/share offer for US biotech company Genzyme.

Verizon wireless to pay back $50 mn for false charges

WASHINGTON – Verizon, the largest US wireless company, says it will refund $50 million or more to customers who were mistakenly charged for data usage on their cell phones, Bloomberg financial news service reported Monday.

The company said it would pay back money to 15 million customers in the next two months. The Federal Communications … Original article on : Verizon wireless to pay back $50 mn for false charges.

Sensex starts week on a strong foot

MUMBAI – A benchmark index of Indian equities Monday was ruling 167 points higher, marking a positive start to the week’s trade.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 20,501.21 points, was ruling at 20,612.6 points, up 167.56 points or 0.82 percent from its previous close at …. Source  : Gaea News Network.

Oil holds steady above $81 in Asia on hopes of growth in demand for crude

Oil above $81 in Asia on signs demand to improve

KUALA LUMPUR, Malaysia – Oil prices held gains above $81 a barrel Monday in Asia on renewed hopes that demand for crude will improve.
Benchmark oil for November delivery eased 2 cents to $81.56 a barrel at midday Kuala Lumpur time in electronic trading on the New …. Original article  : Oil holds steady above $81 in Asia on hopes of growth in demand for crude.

Researchers unveil biggest survey on sex in US since 1994; details orgasm gap, condom usage

New survey on sex in US, biggest since 1994

NEW YORK – The male-female orgasm gap. The sex lives of 14-year-olds. An intriguing breakdown of condom usage rates, by age and ethnicity, with teens emerging as more safe-sex-conscious than boomers.
That’s just a tiny sampling of the data being unveiled Monday in what the researchers say is … Read : Researchers unveil biggest survey on sex in US since 1994; details orgasm gap, condom usage.

Asian stock markets climb amid higher commodity prices, investors await central bank decisions

Asian shares climb amid higher commodity prices

BANGKOK – Asian markets climbed Monday as higher commodity prices boosted resource stocks and stronger growth in Chinese manufacturing raised confidence in the economic recovery.
Oil held gains above $81 a barrel in Asia on renewed hopes that demand for crude will improve. The dollar was up against the yen …. Source  : Asian stock markets climb amid higher commodity prices, investors await central bank decisions.

Tokyo shares rise on US gains

TOKYO – Japanese stocks climbed in Monday morning trading following gains on Wall Street and as exporters were boosted by a fall in the value of the yen.

The benchmark Nikkei 225 Stock Average gained 81.84 points, or 0.87 percent, to trade at 9,486.07 while the broader Topix index was up 2.8 points, or 0.34 …. Source  : Tokyo shares rise on US gains.

Money Market Operations as on October 01, 2010

…. Source article on Gaea Times at  : Money Market Operations as on October 01, 2010.

With China taking the lead, Europe and Asia will address global economic crisis during summit

EU-Asia summit to address economy
BRUSSELS – European and Asian leaders will seek common ground on ways to fix and regulate the global financial market but will likely be bogged down by such issues as market restrictions and trade surpluses during three days of summits.

Monday kicks off with the opening of the two-day Asia-Europe ASEM summit …. Source article on Gaea Times at  : With China taking the lead, Europe and Asia will address global economic crisis during summit.

Wells Fargo exec admits verifying only the date on hundreds of foreclosure documents he signed

Bank exec checked only date on foreclosure docs

WASHINGTON – A Wells Fargo executive has acknowledged that he verified only the dates on up to 150 foreclosure documents he signed daily.
The executive made his admission in a May deposition involving a Washington state homeowner. He said he relied on co-workers to ensure that other information in …. Original article on Gaea Times at  : Wells Fargo exec admits verifying only the date on hundreds of foreclosure documents he signed.

Celine aims to change the fashion industry, fabric bolt by bolt

Celine aims to redefine luxury values
PARIS – After redefining the way women dress, Phoebe Philo – Celine designer and purveyor of the new minimalism that has taken catwalks and Main Street by storm – is aiming to redefine the values of the luxury industry.

Many of the supple silks and cotton fabrics that made up her …. Source article  : Celine aims to change the fashion industry, fabric bolt by bolt.

NBA commissioner Stern not pondering possible lockout, says league focused on labor deal

Stern focused on labor deal, not pondering lockout

MILAN – NBA commissioner David Stern insisted Sunday he hasn’t thought about the effects of a possible lockout next year, and gave new assurances that the league and players’ union remain focused on reaching a new labor agreement.
The sides are divided over the renewal of the collective bargaining … Read more »»».

Oil hovers above $81 in Asia as traders look for new catalyst to extend rally

Oil hovers above $81 amid mixed stock markets

SINGAPORE – Oil prices hovered above $81 a barrel Tuesday in Asia as traders looked for a new catalyst to extend last week’s rally amid mixed regional stock markets.
Benchmark oil for November delivery was up 14 cents to $81.59 a barrel at late afternoon Singapore time in electronic … Read more : Oil hovers above $81 in Asia as traders look for new catalyst to extend rally.

Eurozone leaders urge China to let currency strengthen to help boost global growth

Europe calls on China to let currency appreciate

BRUSSELS – The 16 nations that use the euro are urging China to let the value of its currency rise to help stimulate global economic growth.
Jean-Claude Juncker of Luxembourg, the head of the 16 EU nations that use the euro, wants to see a “broad-based appreciation” of the … Original article on : Eurozone leaders urge China to let currency strengthen to help boost global growth.

Juicy Kinnaur apples hit market

SHIMLA – Famous for its natural sweetness, colour and succulence, apples from Himachal Pradesh’s Kinnaur district are selling well in markets in north India.

Gian Singh Chandel, chairman of the apple market committee at Dhalli near here, said the apples from Kinnaur are in good demand in Delhi, Chandigarh, Punjab and Haryana, and are fetching …. Source article  : Juicy Kinnaur apples hit market.

Supreme Court set to hear privacy case on NASA’s background checks

Supreme Court set to hear NASA privacy case

WASHINGTON – How much information is too much when it comes to security at a government installation in a post-9/11 world?
The Supreme Court will tackle that question Tuesday when it hears arguments over whether the government went too far in investigating workers at the NASA Jet Propulsion Laboratory …. Source  : Supreme Court set to hear privacy case on NASA’s background checks.

Moody’s warns it may cut Ireland’s debt rating amid worries over financial health, growth

Moody’s warns it may downgrade Ireland’s debt

LONDON – A leading credit rating agency warned Tuesday that it may cut Ireland’s government debt rating amid mounting worries over the country’s economic outlook following another bailout of the banking sector last week.
Moody’s Investor Services said it has put the country’s Aa2 rating on review for possible downgrade … Read : Moody’s warns it may cut Ireland’s debt rating amid worries over financial health, growth.

Egyptian newspaper says its mogul publisher has sacked daily’s editor critical of government

Paper: Egyptian publisher sacks dissident editor

CAIRO – Egypt’s leading independent newspaper says its mogul publisher has fired the daily’s chief editor, known as an outspoken government critic.
The development comes amid growing uncertainty over Egypt’s political future, reports of an intensifying media crackdown and constant speculation about 82-year-old President Hosni Mubarak’s health.
Al-Dostor reported on its website …. Source article on Gaea Times at  : Egyptian newspaper says its mogul publisher has sacked daily’s editor critical of government.

Jamaica media seek libel law reform, saying big damages, cost of litigation hurt press freedom

Jamaica media push for libel law reform
KINGSTON, Jamaica – Media organizations are pushing parliament to overhaul Jamaica’s libel law, complaining that the difficulty and cost of fighting off lawsuits, coupled with the risk of huge judgments, are stifling the press and harming freedom of expression.

In editorials, phone calls to lawmakers and even speeches before Parliament, …. Source  : Jamaica media seek libel law reform, saying big damages, cost of litigation hurt press freedom.

Sensex choppy, broader markets gain

MUMBAI – A benchmark index of Indian equities Tuesday was trading volatile, although broader markets showed buying interest. Asian markets too were choppy.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 20,461.98 points, was ruling flat at 20,468.91 points, down 6.82 points or 0.03 percent from its previous close …. Source  : Sensex choppy, broader markets gain.

Supreme Court to hear privacy case on NASA’s background checks

Supreme Court to hear NASA privacy case on Tuesday

WASHINGTON – How much information is too much when it comes to security at a government installation in a post-9/11 world?
The Supreme Court will tackle that question Tuesday when it hears arguments over whether the government went too far in investigating workers at the NASA Jet Propulsion …. Source  : Supreme Court to hear privacy case on NASA’s background checks.

Google TV announces content partners for rollout

WASHINGTON – Google is teaming up big-name brands like HBO, Netflix, Pandora and the NBA for the expected rollout of Google TV, the web giant’s “multimillion-channel TV” system some time soon.

Run by Google’s Android operating system, it will let users view all kinds of Web content on their televisions, Google said Monday announcing the …. Read the original article  : Google TV announces content partners for rollout.

Bank of Japan to adopt zero-interest policy

TOKYO – The Bank of Japan decided Tuesday to lower its key interest rate to between zero and 0.1 percent to address the yen’s rise and the country’s slowing economy, the bank announced after a two-day policy meeting.

The central bank, which described the decision as “comprehensive monetary easing”, also said it would establish a … Read more : Bank of Japan to adopt zero-interest policy.

Indian miracle will help outpace Chinese economy: Economist

WASHINGTON – India may have a long way to go before becoming as rich as China but its economy will soon start growing faster, thanks to a young workforce and a brand of capitalism that outweighs its much derided democracy, says The Economist.

“Despite the headlines, India is doing rather well. Its economy is expected …. Source  : Indian miracle will help outpace Chinese economy: Economist.

Asian shares were mostly lower, but Nikkei up after Japan cuts interest rate

Asian shares mostly lower; Japan up after rate cut

BANGKOK – Weak U.S. economic indicators sent most Asian stock markets lower Tuesday but Japanese shares climbed after the central bank cut its key interest rate to effectively zero.
Oil prices held above $81 a barrel as traders looked for a new catalyst to extend last week’s rally … Read this article on Gaea Times at : Asian shares were mostly lower, but Nikkei up after Japan cuts interest rate.

Microsoft to launch Windows Phone 7 next week

WASHINGTON – Microsoft is set to launch its first line of Windows Phone 7 products next week and announce which carriers and manufacturers will be making and selling handsets based on its next mobile operating system.

It’s evident that AT&T is on board as one of the carriers as Microsoft CEO Steve Ballmer and AT&T … Read more : Microsoft to launch Windows Phone 7 next week.

Now, non-stick chewing gum to keep streets clean

LONDON – A non-stick chewing gum that dissolves within 24 hours has been formulated by British scientists, a media report said Tuesday.

Rev7, which went on sale Monday, has the same taste and texture as normal gum, but is water soluble, Daily Mail reported on its website.
It can be removed easily from clothes using … Original article on : Now, non-stick chewing gum to keep streets clean.

Oil drops slightly to near $81 in Asia as traders look for new catalyst to extend rally

Oil drops slightly to near $81 as rally cools

SINGAPORE – Oil prices dropped slightly to near $81 a barrel Tuesday in Asia as traders looked for a new catalyst to extend last week’s rally amid mixed lower regional stock markets.
Benchmark oil for November delivery was down 18 cents to $81.29 a barrel at midday Singapore …. Read the original article  : here.

India will soon start to outpace China: Economist

WASHINGTON – India will soon start to outpace China, thanks to a young and growing workforce and its “much-derided democracy” says The Economist.

The cover story on “How India’s growth will outpace China’s” in its latest issue attributes “India’s surprising economic miracle” largely to its private sector saying, “the country’s state may be weak, but …. Original article  : India will soon start to outpace China: Economist.

Japan’s central bank cuts key interest rate to range of zero to 0.1 percent

Japan’s central bank cuts key rate to around zero

TOKYO – Japan’s central bank cut its key interest rate to virtually zero Tuesday and said it may set up a $60 billion fund to buy government bonds and other assets in a surprise move to inject life into a faltering economy.
In a unanimous vote, the Bank …. Source  : Gaea News Network.

Tweet this: Twitter gets new chief executive

SAN FRANCISCO – An unexpected executive appointment got the internet all atwitter Monday.

Evan Williams, co-founder of hit microblogging site Twitter, said he was stepping aside to concentrate on product strategy, while chief operating officer Dick Costollo, 47, would take the reigns of the company as it tries to monetize its huge internet following.
Williams … Read more >>>.

CAPITAL CULTURE: Conspiracy theories abound as to what’s behind noisy drilling at White House

CAPITAL CULTURE: Why all the White House drilling?

WASHINGTON – Forget about the midterm elections and speculation about West Wing personnel shake-ups. The big question being asked around the White House is, what’s that noisy construction really all about?
The drilling, clanging and banging are tearing up parts of the front lawn of the White House, obstructing …. Read the original article  : CAPITAL CULTURE: Conspiracy theories abound as to what’s behind noisy drilling at White House.

Oil rises above $83 as global stock markets extend rally, US dollar falls

Oil rises above $83 as equities gain, dollar drops

SINGAPORE – Oil prices rose above $83 a barrel Wednesday in Asia amid rising global stock markets and a weakening U.S. dollar.
Benchmark oil for November delivery was up 30 cents to $83.12 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile …. Original article  : Oil rises above $83 as global stock markets extend rally, US dollar falls.

World stocks rise with hopes that US Federal Reserve will loosen monetary policy

World stocks rise on hopes for Fed policy easing

BANGKOK – World stock markets rallied Wednesday, buoyed by growing expectations that the Federal Reserve will take steps to bolster the U.S. economy following the Bank of Japan’s surprise interest rate cut.
Oil prices went above $83 a barrel, and the dollar fell against the yen and the …. Original source  : World stocks rise with hopes that US Federal Reserve will loosen monetary policy.

Goa’s tourist security force stuck in a rut

PANAJI – It may be a while before Goa’s much-touted tourist security force (TSF) literally hits top gear as the patrol jeeps assigned to it do not have four-wheel drive, essential for cruising on the uneven and soft beach sand.

Tourism department officials said 15 patrol jeeps donated by a global tourism organisation for the …. Original source  : Goa’s tourist security force stuck in a rut.

Sand mining ban in Maharashtra threatens mega projects

MUMBAI – The building industry has expressed doubts over timely completion of several mega private and government infrastructure projects with billions of rupees investment, in the wake of a recent Bombay High Court order that has banned sand mining across the state.

The high court order of Sep 24 was given by a division bench … Read : Sand mining ban in Maharashtra threatens mega projects.

Qatar Airways declared official airline partner for Indian Business Leaders Summit and Golf Tournament

Mumbai, Oct. 6 (ANI-Business Wire India): Qatar Airways, one of the world’s finest five star airlines, today announced that it has been named the official airline for the premiere Indian Business Leaders Summit and Golf Tournament.

The summit and the tournament are scheduled to be held on November 11 and 12,2010, at the Oxford Golf … Read more »».

English soccer club Liverpool agrees to Red Sox takeover, pending settlement of board dispute

Liverpool board agrees on sale to Red Sox owners

LONDON – Liverpool’s board agreed to sell the English Premier League club to the owners of the Boston Red Sox on Wednesday, and also announced they will have to take legal action against the existing American owners to force the takeover.
Tom Hicks and George Gillett Jr. said … Read more : English soccer club Liverpool agrees to Red Sox takeover, pending settlement of board dispute.

Bhutanese currency in circulation along India-Bhutan border

GUWAHATI – The influx of Bhutanese currency along the Indo-Bhutan border in Assam is posing a serious threat to the local economy, as residents prefer it for their centuries-old cross-border trade.

Due to a lack of exchange offices in the border region, the Bhutanese pay in Ngultrum.

“I accept it because of compulsion. Here it is available … Original article on : Bhutanese currency in circulation along India-Bhutan border.

Shipping Corp, ITI scrips rise on stake sale, quota extension

MUMBAI – The scrips of state-owned companies Shipping Corporation of India (SCI) and ITI rose Wednesday after the government approved a stake sale in the shipping major and assured bulk orders for the telecom equipment manufacturer.

In an announcement late Tuesday, the Cabinet Committee on Economic Affairs (CCEA) approved a proposal for an issue of …. Source article  : Shipping Corp, ITI scrips rise on stake sale, quota extension.

Obama visit to highlight trade ties: US group

WASHINGTON – US President Barack Obama’s decision to start his first State Visit to India with an address to a major business summit in Mumbai highlights his priority to cultivating deeper commercial ties with India, says a leading trade advocacy group.

Arriving in India on Diwali night Nov 5, Obama will attend the Business and … Read more »»».

Etios Arriving In India Soon

DELHI, INDIA (GaeaTimes.com)- Toyota which is one of the leading car makers of the world is all set to unveil its much touted small car named Etios in Thailand and India in near future. The company also has similar plans for the markets in Brazil and China. It is going to be priced competitively …. Read the original article  : here.

Indian sugar isn’t substandard: Pakistani minister

ISLAMABAD – Sugar imported from India will be tested before its sale in Pakistan, said a minister who rejected the impression that Indian sugar was substandard.

Minister for Labour and Manpower Syed Khurshid Shah told the National Assembly Tuesday that pre-shipment inspection of sugar being imported from India had been conducted and it will be [..] Read the original article: here.

Military official says Taiwan to budget for upgrade of F-16 fighter jet fleet in 2012

Official: Taiwan to budget for 2012 F-16 upgrade

TAIPEI, Taiwan – Taiwan is allocating money for possible U.S. help to ugrade its fleet of F-16 fighter jets, a military spokesman said Wednesday, two days after a senior Taiwanese official warned that China’s threat against the island is growing.
Any American decision to improve Taiwan’s defensive capabilities would …. Original article  : Military official says Taiwan to budget for upgrade of F-16 fighter jet fleet in 2012.

Oil hovers below $83 in Asia after report shows US crude supply jump

Oil hovers below $83 after US crude supply jump

SINGAPORE – Oil prices hovered below $83 a barrel Wednesday in Asia after a report showed U.S. crude supplies unexpectedly jumped last week, suggesting demand may be weaker than anticipated.
Benchmark oil for November delivery was down 14 cents to $82.68 a barrel at midday Singapore time in …. Read the original article  : here.

Toy Story 2010: Lower prices, higher tech

LOS ANGELES – That age old question of what to get a kid who has everything has finally been answered – and the good news is that it only costs $30.

That’s the price of the new toy from Mattel called Puppy Tweets, a device that sends Twitter messages from stay-at-home dogs to their owners …. Source  : Toy Story 2010: Lower prices, higher tech.

Biden tells Minn. crowd that he will ’strangle’ Republicans who complain about budget

Biden says he’ll ’strangle’ Republicans
DAYTON, Minn. – Vice President Joe Biden has told Democrats at a Minnesota fundraiser that he’ll “strangle” members of the GOP who complain about the federal budget.

According to a pool report from Tuesday’s event in Dayton, Biden was telling the crowd that Democrats know how to balance the budget. He said, …. Source  : Gaea News Network.

Americans spend slightly more in September, holiday forecasts mildly positive

Retail data: September sales edge up
NEW YORK – Americans kept spending carefully last month, buying electronics and back-to-school clothes but holding back on luxuries.

Erratic weather and tepid economic news dampened sales, according to data released Wednesday by MasterCard Advisors’ SpendingPulse, which includes transactions in all forms including cash.
But pockets of growth during the five weeks …. Source article  : Americans spend slightly more in September, holiday forecasts mildly positive.

Jaguar with sensational electric super car at Paris Show

PARIS – Jaguar caused a sensation at the Paris Motor Show by presenting the concept study of a “breathtaking” electrically powered super car with a quartet of electric engines providing an output of 780 horsepower and a top speed of 330 km/h.

Combined with a sleek aluminum body in jetstream silver, aerodynamic efficiency has been … Original article on : Jaguar with sensational electric super car at Paris Show.

Austria gives Bhutan $8 mn for electrification

VIENNA – Austria has provided a $7.92 million (5.8 million euro) credit to Bhutan for electrification of its villages, the Austrian foreign ministry has said.

The loan can help over 1,000 households in 11 Bhutan villages at an elevation of over 3,000 metres to set up an electric circuit.
With support from Austria, by the …. Source article on Gaea Times at  : Austria gives Bhutan $8 mn for electrification.

Money Market Operations as on October 05, 2010

…. Source article  : Money Market Operations as on October 05, 2010.

Asian stocks rise with hopes that US Federal Reserve will loosen monetary policy

Asian stocks rise on hopes for Fed policy easing

BANGKOK – Asian stock markets rallied Wednesday, buoyed by growing expectations that the Federal Reserve will take steps to bolster the U.S. economy following the Bank of Japan’s surprise interest rate cut.
Oil prices hovered below $83 a barrel after a report showed U.S. crude supplies unexpectedly jumped … Read more : Asian stocks rise with hopes that US Federal Reserve will loosen monetary policy.

Reality check on Sensex and India’s realty industry (Comment)

After the trough of 8,160 points, the recent turnaround in Indian stock markets that has lifted the 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE) past the magical 20,000-point mark may cheer up India Inc – but it has certainly not lifted the spirits of the real estate market.

What’s significant to note … Read more »».

India, Russia to soon ink advanced fighter deal

NEW DELHI – India and Russia will soon sign a multi-billion dollar agreement to co-develop an advanced stealth fighter, Defence Minister A.K. Antony said Thursday after talks with his Russian counterpart Anatoly Serdyukov.

Antony, at a joint press conference with Serdyukov termed the fifth generation fighter aircraft (FGFA) deal and another joint venture on developing … Original source on Gaea Times at : India, Russia to soon ink advanced fighter deal.

Fans of English soccer club Liverpool skeptical over prospect of another American owner

Liverpool fans skeptical of another American owner

LIVERPOOL, England – The message regularly written on scarves, flags, blogs and fan forums of die-hard Liverpool supporters the past two seasons was simple: “Thanks but no Yanks.”
So it came as no surprise – given the recent abuse directed toward co-owners Tom Hicks and George Gillett Jr. – that …. Source article  : Fans of English soccer club Liverpool skeptical over prospect of another American owner.

Oil heads for $84 a barrel in Asia as weaker US dollar fuels gains in commodity prices

Oil heads for $84 in Asia amid US dollar slide

SINGAPORE – Oil closed in on $84 a barrel Thursday in Asia as a weak U.S. dollar fueled gains in commodity prices.
Benchmark oil for November delivery was up 36 cents to $83.59 a barrel at late afternoon Singapore time in electronic trading on the New York … Read more >>>.

Trade fair in Mumbai to bring Hong Kong brands to India

MUMBAI – The Hong Kong Trade Development Council (HKTDC) will hold a Lifestyle Expo of high-quality products and brands in Mumbai later this month to build partnerships between Indian retailers and manufactures from Hong Kong and Guangdong province of China.

“Hong Kong is renowned as the design hub of Asia. Guangdong is wellknown for …. Source  : Gaea News Network.

Indra Nooyi, Shikha Sharma and Chanda Kochar in Forbes List of Powerful Women

NEW DELHI, INDIA (GaeaTimes.com) — Forbes list of world’s 100 most powerful women has been announced today. The list topped by US First Lady Michelle Obama includes two Indian women. India-born Pepsico chief Indra Nooyi is placed at the sixth position of the Forbes list.
Shikha Sharma, the Axis Bank chief executive hold the 89 …. Original article  : Indra Nooyi, Shikha Sharma and Chanda Kochar in Forbes List of Powerful Women.

India’s annual food inflation drops slightly to 16.24 percent

NEW DELHI – India’s annual food inflation dropped a tad to 16.24 percent for the week ended Sep 25 compared to 16.44 percent the previous week, as supply of essential items, disrupted by heavy rains and floods in parts of the country, began turning normal.

The annual inflation rate for the primary articles group, however, … Read the original article on Gaea Times at : India’s annual food inflation drops slightly to 16.24 percent.

Marks and Spencer says comparable sales up 5.3 pct in recent quarter, better than expected

Marks and Spencer sales up 5.3 pct in last quarter

LONDON – British retailer Marks and Spencer says sales were up 5.3 percent in the 13 weeks ending Oct. 2 when not counting newly opened store space.
Thursday’s report was stronger than analysts had forecast. General merchandise sales were up 7 percent and food sales rose 3.7 …. Original article on Gaea Times at  : Marks and Spencer says comparable sales up 5.3 pct in recent quarter, better than expected.

Eurostar buying new trains from Siemens in 700 mln pounds ($1.1 bln) program

Eurostar chooses Siemens to build new trains

LONDON – Eurostar is buying 10 new trains from German manufacturer Siemens as part of a 700 million pounds ($1.1 bln) upgrade and expansion of its fleet.
The cross-channel train company said Thursday that the new 900-passenger trains would be capable of operating throughout Europe’s high-speed rail network.
Starting next year, …. Original source  : Eurostar buying new trains from Siemens in 700 mln pounds ($1.1 bln) program.

Long-serving Rep. Oberstar of Minn. faces serious challenge from Republican with union past

Long-serving Minn. Rep. Oberstar faces real race

CHISHOLM, Minn. – U.S. Rep. Jim Oberstar of Minnesota has been in politics so long that when he talks about his district helping deliver the presidency to a promising young Democrat, he means John F. Kennedy.
Now in his 36th year as a congressman, Oberstar has never gotten less than … Read more »»».

BP, Azerbaijan reach joint production agreement to develop Caspian Sea oil

BP, Azerbaijan reach Caspian Sea oil deal
LONDON – BP PLC says it has reached an agreement with Azerbaijan’s state oil company to develop a new oil field in the Caspian Sea.

BP said Thursday that the 50-50 joint venture will seek to develop oil production in the Shafag-Asiman sector, 125 kilometers (78 miles) southeast of Baku.
Moving … Read more »».

To win back trust, Toyota offers 2 years free maintenance, roadside service on new US models

Toyota steps up efforts to woo back US customers

TOKYO – Aiming to win back customer trust after its string of recalls, Toyota Motor Corp. is offering American buyers of new Toyota- and Scion-brand vehicles two years of regular scheduled maintenance and 24-hour roadside assistance for free.
The plans, announced in a press release Wednesday from the … Read the original article on Gaea Times at : To win back trust, Toyota offers 2 years free maintenance, roadside service on new US models.

European Central Bank’s Trichet set for quizzing as euro surges to eight-month dollar highs

Markets await Trichet’s comments on strong euro

LONDON – European Central Bank head Jean-Claude Trichet faces a quizzing about the euro’s ascent to eight-month highs against the dollar when he holds his monthly press conference Thursday.
The markets will be interested to see if Trichet uses the opportunity to subtly decry the stronger currency’s effect on the … Read more >>>.

Pakistan puts dams on hold after cost increases

ISLAMABAD – The cost of building five small dams in Pakistan has increased by a whopping 180 percent in a year, causing Islamabad to put on hold the projects till the cost estimates were rationalised.

The five small dams with a power generation capacity of just 9.5 megawatt has gone up from Rs.35.6 billion … Read : Pakistan puts dams on hold after cost increases.

Oil hovers above $83 in Asia as weaker US dollar fuels gains in commodity prices

Oil hovers above $83 in Asia amid US dollar slide

SINGAPORE – Oil hovered above $83 a barrel Thursday in Asia as a weak U.S. dollar fuels gains in commodity prices.
Benchmark oil for November delivery was up 22 cents to $83.45 a barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange. …. Original article  : Oil hovers above $83 in Asia as weaker US dollar fuels gains in commodity prices.

After currency intervention, Japan’s foreign reserves at all-time high in September

Japan forex reserves at record after intervention

TOKYO – Japan’s foreign exchange reserves hit an all-time high in September after the central bank intervened in currency markets for the first time in more than six years.
Japan’s international reserves rose for the fourth straight month to $1.11 trillion as of Sept. 30, up $39.45 billion from a …. Source  : Gaea News Network.

Food entitlement act in India soon, says Swaminathan

TORONTO – India will soon be the first country in the world “to enact a food security entitlement act under which every family below the poverty line will get 35 kg of grain”, says M.S. Swaminathan who is in Canada to receive an honorary doctorate from the University of Alberta.

One of the pioneers of …. Source  : Gaea News Network.

Asian stock markets down after yen hits new 15-year-high, US jobs report disappoints

Asian markets down after yen hits new 15-year-high

BANGKOK – Asian stock markets slipped Thursday as investors digested the yen’s overnight climb to a new 15-year high against the dollar and a disappointing U.S. jobs report.
Oil, meanwhile, hovered above $83 a barrel as the weak U.S. dollar fuels gains in commodity prices. Gold hit a new …. Read the original article  : Asian stock markets down after yen hits new 15-year-high, US jobs report disappoints.

US very bullish on India: Hillary Clinton

WASHINGTON – As India assumes a more global leadership role, the United States is “very bullish” on India, says Secretary of State Hillary Clinton describing President Barack Obama’s upcoming visit as “yet another very clear statement” of US support.

The US relationship “is going from strength to strength” she said at the 12th annual … Read the original article on Gaea Times at : US very bullish on India: Hillary Clinton.

The new poor: Analysis finds US suburbs bearing brunt of near-historic increases in poverty

Suburbs take hit as US poverty climbs in downturn

WASHINGTON – Battered by the downturn, America’s suburbs are bearing the brunt of poverty among those of working age that has climbed to its highest level in almost a half century, creating strains on dwindling safety-net programs focusing mostly on the inner-city poor.
A pair of analyses by … Original article on : The new poor: Analysis finds US suburbs bearing brunt of near-historic increases in poverty.

Hero Honda launches special CWG limited edition bike

NEW DELHI – Two-wheeler major Hero Honda Friday launched Passion Pro Commonwealth Games limited edition motorcycle costing Rs.46,300 (ex-showroom Delhi).

We are confident that the bike will be a craze amongst the sports-loving youth owing to its design, looks and irresistible features, Hero Honda Motors senior vice president (marketing and sales) Anil Dua said.
… Read more : Hero Honda launches special CWG limited edition bike.

JSW crude steel production rises 8 percent in H1 FY11

NEW DELHI – India’s third largest steel maker JSW Steel Friday reported a 8 percent growth in crude steel production in the first half of fiscal 2010-11 compared to the corresponding period last fiscal.

The company produced 3.14 million tonnes of crude steel in the first six months of the current fiscal.
Production of flat …. Source  : JSW crude steel production rises 8 percent in H1 FY11.

Chinese premier Wen says Beijing won’t block rare earth exports but wants ’sustainable’ use

Premier: China won’t block rare earth exports

SHANGHAI – China is not using its control over supplies of rare earth – exotic metals crucial in advanced manufacturing – as a diplomatic “bargaining chip,” state media quoted Premier Wen Jiabao as saying during a visit to Europe.
Recent reports that Beijing had temporarily suspended shipments to Japan of … Original source on Gaea Times at : Chinese premier Wen says Beijing won’t block rare earth exports but wants ’sustainable’ use.

World stock markets mostly lower ahead of US jobs report, strong yen drags Japan down

World stocks mostly down ahead of US jobs report

SINGAPORE – World stock markets were mostly lower Friday as investors pared bets ahead of a key U.S. jobs report later in the day and the yen traded at a 15-year high against the dollar.
The U.S., a major market for Asia’s exporters, likely added a net 75,000 … Read : World stock markets mostly lower ahead of US jobs report, strong yen drags Japan down.

SNAP 2010 launches student friendly platforms in new media

Pune, Oct.8 (ANI-Business Wire India): Education giant Symbiosis has taken the most accessible route to reach out to its students preparing for the exam. Known for taking up innovative methods to help students, Symbiosis has a page catering to SNAP aspirants on Facebook and Twitter. Apart from this they are also present with … Read : SNAP 2010 launches student friendly platforms in new media.

Food prices may soar due to global warming

LONDON – Large-scale crop failures are likely to become more common in the wake of climate change and lead to spiralling prices.

Rising temperatures could trigger events such as the wheat crisis in Russia this summer which pushed up food prices, researchers from the Universities of Leeds, Exter and the Met Office said.
Scientists warned … Read the original article on Gaea Times at : Food prices may soar due to global warming.

Encore, Inc. chooses Robosoft for secure distribution of Mac Games,Apps

New Udupi (Karnataka), Oct.8 (ANI-Business Wire India): Robosoft Technologies, a renowned developer of Mac, iPhone and iPad games and a leader in secure digital distribution of Mac video games, is proud to announce its strategic relationship with Encore, Inc. – the leading retail publisher for a complete range of personal productivity, utility, education and game …. Read the original article  : here.

Pacemakers for pooches: Implanted heart devices helping man’s best friend live a longer life

Pacemaker implants help pooches live longer lives

WEST LAFAYETTE, Ind. – The 8-year-old yellow Labrador lies obediently on the stainless steel exam table, tail wagging, as Dr. Henry Green monitors the dog’s heart rhythm – every beat of which is guided by a pacemaker implanted beneath the scruff of his neck.
Grommit, the beloved pet of a …. Read the original article  : Pacemakers for pooches: Implanted heart devices helping man’s best friend live a longer life.

NJ governor scraps decades-in-the-making NJ-NY railroad tunnel, citing escalating costs

NJ gov. scraps long-planned NJ-NY railroad tunnel

TRENTON, N.J. – Gov. Chris Christie justified his decision to scrap the state’s most ambitious public works project as a move to protect the long-range financial interests of New Jersey taxpayers.
Supporters of the New Jersey-to-Manhattan rail tunnel said the decision will have the exact opposite result.
U.S. Sen. Frank Lautenberg, … Read more >>.

German exports dip .4 percent on the month; up 26.8 pct on the year

German exports dip on the month
BERLIN – Official data show that German exports dipped .4 percent on the month in August, compared with the previous month, but were up 26.8 percent over the same month last year.

August was the second straight month the Federal Statistical Office reported a drop in exports, after months of growth. …. Source article  : German exports dip .4 percent on the month; up 26.8 pct on the year.

Nigeria calls for Indian assistance in ailing textile industry

ABUJA – Nigeria has sought Indian assistance to boost the country’s ailing textile industry.

“The areas of assistance are pretty obvious. We are proud of your textile industry and are committed to supporting cotton growing, cotton cultivation, and the application of cotton to textile industry and anything that is germane to textile industry,” Nigeria’s … Read the original article on Gaea Times at : Nigeria calls for Indian assistance in ailing textile industry.

Asian stock markets mostly lower ahead of US jobs report, strong yen drags Japan down

Asian stocks mostly down ahead of US jobs report

SINGAPORE – Asian stock markets were mostly lower Friday as investors pared bets ahead of a key U.S. jobs report later in the day and the yen traded at a 15-year high against the dollar.
The U.S., a major market for Asia’s exporters, likely added a net 75,000 …. Original article on Gaea Times at  : Asian stock markets mostly lower ahead of US jobs report, strong yen drags Japan down.

Israel buys 20 stealth bombers from US

NEW YORK/TEL AVIV – Israel has inked a deal with the US to buy 20 fighter jets for $2.75 billion, a media report said Friday.

The F-35 stealth fighters, made by Lockheed Martin Corp, are scheduled for delivery between 2015 and 2017, Ehud Shani, director general of the Israeli Ministry of Defence, was quoted …. Read the original article  : Israel buys 20 stealth bombers from US.

India’s Exim Bank gets $150 mn to push India-Africa trade

WASHINGTON – India’s Export-Import Bank has secured a $150 million international loan to help expand Indian exporters’ access to finance, including for small and medium enterprises, and support their exports to Africa.

IFC, a member of the World Bank Group, and the Bank of Tokyo-Mitsubishi UFJ, Ltd have each provided a medium-term trade-finance loan of …. Original source  : India’s Exim Bank gets $150 mn to push India-Africa trade.

Oil hovers below $82 in Asia as markets await key US employment report

Oil sits below $82 as markets await US jobs report

SINGAPORE – Oil prices hovered below $82 a barrel Friday in Asia as investors looked to a key monthly jobs report for clues about the strength of the U.S. economy.
Benchmark oil for November delivery was down 4 cents to $83.67 a barrel at midday Singapore time …. Source article  : Oil hovers below $82 in Asia as markets await key US employment report.

India has 20-70 million housing shortage

WASHINGTON – India has an estimated housing shortage ranging from 20 million to 70 million, yet as much as half of this excess demand can be profitably serviced by the housing and housing finance markets, says a new World Bank report.

High economic growth coupled with rapid urbanisation and a rising middle class have created …. Read the original article  : India has 20-70 million housing shortage.

Google Voice: The next killer app?

WASHINGTON – Google releases so many products – most of them free – that it’s easy to overlook one that’s really special. Google Voice qualifies.

Thanks to its features and competitive potential, Google’s relatively new service has been quietly sending tremors throughout the telephony industry.
And Google Voice – a service that’s like a supercharged …. Original article  : Google Voice: The next killer app?.

Embraer says it’s still in talks on fate of China aircraft factory

Embraer says still mulling China factory status

SHANGHAI – Brazilian aircraft maker Embraer said Friday it is still discussing plans for its aircraft factory in northern China, denying reports it will close the plant.
Brazil’s Estado news agency, citing Embraer’s vice president of commercial aviation, Paulo Cesar de Souza e Silva, said the company planned to shut …. Read the original article  : Embraer says it’s still in talks on fate of China aircraft factory.

Japanese Cabinet approves $61 billion in new economic stimulus, calls for steps on rare earths

Japanese Cabinet OKs $61 billion economic stimulus

TOKYO – Japan’s Cabinet on Friday approved 5.05 trillion yen ($61 billion) in new economic stimulus, the latest in a string of measures to shore up the country’s lethargic economy that has been battered by a surging yen.
The plan also called for funding to secure rare earths needed for … Read this article on Gaea Times at : Japanese Cabinet approves $61 billion in new economic stimulus, calls for steps on rare earths.

Shanghai imposes one-home limit on families, moving to further cool property sector

To cool property deals, Shanghai sets 1 home limit

SHANGHAI – Authorities in China’s largest city have ordered that families be allowed to only purchase one home each, part of a series of moves aimed at cooling surging property prices.
“One family in Shanghai, whether local or migrant, can only buy one new home, including a secondhand …. Source  : Gaea News Network.

British royal family told to cut expenses

LONDON – The British royal family have been told to slash spending on palaces and travel by about 25 percent, a media report said Saturday.

The Whitehall officials said they expect the royal family to share the burden of budget cuts in the toughest review for a generation, due Oct 20, Daily Express reported.
The … Read the original article on Gaea Times at : British royal family told to cut expenses.

Chhattisgarh’s new 660 MW plant to start by December

RAIPUR – The National Thermal Power Corporation (NTPC) will commission the first of three 660 MW of units of a new power plant in Chhattisgarh’s Sipat village by December, the corporation said here Saturday.

“The first 660 MW of the total 1,980 MW Sipat expansion project of the NTPC will be commissioned by December while … Read more >>>.

Seeing light at the end of world’s longest rail tunnel

GENEVA – Seeing light at the end of the tunnel will be more than just a catch phrase when Swiss engineers blast through the last Alpine granite barrier Oct 15 at the Gotthard Base Tunnel – the world’s longest rail tunnel.

After 25 years of planning and construction, that blast will clear the way for … Read more >>>.

India’s Jain Irrigation gets IFC award

WASHINGTON – India’s Jain Irrigation Systems Limited has been honoured with the annual IFC Client Leadership Award for its pioneering work to promote sustainable agriculture and raise farmers’ incomes through the efficient use of water, energy, and fertiliser.

The award was presented the award to Jain Managing Director Anil Jain by IFC Executive Vice President …. Read the original article  : India’s Jain Irrigation gets IFC award.

Dow industrials close above 11,000

NEW YORK – The benchmark Dow Jones Industrial Average rose above 11,000 points for the first time in months amid hopes that the Federal Reserve will buy debt as economic stimulus amid stubbornly high unemployment.

The blue-chip Dow industrials gained 57.9 points, or 0.53 percent, to 11,006.48. The broader Standard and Poor’s 500 Index climbed …. Original article on Gaea Times at  : Dow industrials close above 11,000.

Wal-Mart ends profit sharing with employees, replacing it with retirement contributions

Wal-Mart ends profit sharing with employees

NEW YORK – Wal-Mart Stores Inc., the nation’s largest private employer, plans to end automatic profit-sharing contributions for its employees in a revamp of its benefits package that it says will give workers more chance to share in its financial success.
The discounter will replace profit-sharing starting in February with retirement …. Source article on Gaea Times at  : Wal-Mart ends profit sharing with employees, replacing it with retirement contributions.

NJ Gov. Chris Christie agrees to rethink decision to cancel big rail tunnel connecting NJ, NYC

NJ gov. agrees to rethink rail tunnel cancellation

TRENTON, N.J. – Under pressure from the Obama administration, Republican Gov. Chris Christie agreed Friday to rethink his decision to cancel construction of a $9 billion rail tunnel connecting New Jersey and New York City.
Christie, a rising star in the GOP with a reputation as a fearless protector … Read : NJ Gov. Chris Christie agrees to rethink decision to cancel big rail tunnel connecting NJ, NYC.

Schwarzenegger says California got ‘best’ offer to sell state office buildings amid downturn

Schwarzenegger: State got best offer for buildings

SACRAMENTO, Calif. – While there are good reasons to own, Gov. Arnold Schwarzenegger said Friday that California has received solid offers to sell 24 state office buildings to private investors and then rent that space back.
“It went through the bidding process … so let me tell you, we got …. Original article on Gaea Times at  : Schwarzenegger says California got ‘best’ offer to sell state office buildings amid downturn.

Emerging Europe stuck in ‘debt shadow’ of West: World Bank

WASHINGTON – Eastern and Central European countries could face another economic slowdown if their Western neighbours cannot gain control of their finances, the World Bank warned Friday.

Indermit Gill, the World Bank’s chief economist for the region, said that emerging economies in Europe had come out of last year’s economic crisis more dependent than ever …. Source article  : Emerging Europe stuck in ‘debt shadow’ of West: World Bank.

In ugly Nevada Senate race, Angle says Reid helped to put Viagra in hands of child molesters

Angle: Reid helped child molesters get Viagra

LAS VEGAS – In the ugliest ad so far in Nevada’s contentious Senate race, Republican Sharron Angle accuses Democrat Harry Reid of helping to put Viagra in the hands of child molesters. The TV spot is the latest in a string of scare-tactic ads flooding the Nevada airwaves in …. Read the original article  : here.

World champion Spain wins 3-1 against Lithuania in Euro 2012 qualifier

Spain beats Lithuania 3-1 in Euro qualifier

SALAMANCA, Spain – Fernando Llorente scored twice to help world champion Spain beat Lithuania 3-1 Friday in a 2012 European Championship qualifier.
Spain struggled to break down the visitors’ defense until Llorente scored his fifth international goal in the 47th minute with a header from a perfectly placed cross from …. Read the original article  : here.

Calif. budget vote ends 100-day impasse but not state’s deficit, which will face new governor

California budget perpetuates deficit spending

SACRAMENTO, Calif. – Even as California lawmakers passed a budget Friday to end an unprecedented 100-day impasse, their spending plan looked to be so tenuous that the next governor was expected to face a multibillion dollar deficit from the moment he or she steps into office next year.
Two-thirds of the budget … Read the original article on Gaea Times at : Calif. budget vote ends 100-day impasse but not state’s deficit, which will face new governor.

Sen. Reid’s son Rory struggles to gain traction in Nevada governor’s race

Rory Reid fights to gain traction in NV gov race

CARSON CITY, Nev. – Democratic gubernatorial candidate Rory Reid has dumped his famous last name, enlisted charismatic former President Bill Clinton as a political wingman and relentlessly attacked his opponent. None of it seems to be working. The son of Senate Democratic Majority Leader Harry Reid … Read more >>>.

Summary Box: Wholesale inventories and sales rise in August, as businesses remain confident

Summary Box: Wholesale inventories
WHAT’S UP? Inventories at the wholesale level rose by 0.8 percent in August, while sales rose by 0.5 percent, the Commerce Department said Friday.

WHAT’S CHANGED? The economic crisis led wholesalers to cut their inventories for 13 consecutive months starting in September 2008. When they started restocking last year, that boosted orders to …. Original source  : Summary Box: Wholesale inventories and sales rise in August, as businesses remain confident.

Summary Box: A weak jobs report gave traders confidence the Fed will soon start buying bonds

Summary Box: Treasury rates slip on jobs report

JOBS REPORT: The Labor Department said the economy lost 95,000 jobs in September. The unemployment rate stayed at 9.6 percent.
WAITING FOR THE FED: The labor report looked better than Wall Street expected, but it still painted a bleak picture of the country’s economy. Bond traders expect the Federal … Read more »»».

Summary Box: Economy loses 95,000 jobs as government layoffs surpass private hires

Summary Box: Economy loses 95K jobs last month

JOB LOSSES: A wave of government layoffs in September outpaced weak hiring in the private sector, pushing down the nation’s payrolls by a net total of 95,000 jobs. It was the fourth straight month that the economy lost jobs. The unemployment rate remained stuck 9.6 percent.
PRESSURE’S ON: The …. Source article  : Summary Box: Economy loses 95,000 jobs as government layoffs surpass private hires.

Steward Title writes new rules on foreclosure sales associated with flawed paperwork

Stewart Title clamps down on foreclosure sales

NEW YORK – Stewart Title Guaranty Co. is clamping down on sales of foreclosed homes that may be linked to flawed documentation.
In an internal memo obtained by The Associated Press, Houston-based Stewart is issuing guidelines to its agents that make it difficult to write policies on property foreclosed upon …. Source article on Gaea Times at  : Steward Title writes new rules on foreclosure sales associated with flawed paperwork.

Bank of America stops foreclosures across the country, expanding review of mortgage documents

Bank of America stops US foreclosures for review

WASHINGTON – Bank of America on Friday halted foreclosures on homes across the country so it could review paperwork in tens of thousands of cases for flaws, expanding a crisis at a perilous time for the housing market.
The move came as PNC Financial Services became the fourth major …. Source  : Bank of America stops foreclosures across the country, expanding review of mortgage documents.

Al Pacino to star in HBO film as Phil Spector, famed record producer imprisoned for murder

Al Pacino to star in film as producer Phil Spector

NEW YORK – HBO says Al Pacino is set to star as legendary record producer Phil Spector in a TV film to be written and directed by David Mamet (MAM’-eht).
The film will tell the story of Spector, who long ago recorded such acts as the Beatles, … Read more >>.

Fire officials rescue 2 maintenance workers injured injured in fall at Florida water tower

2 workers rescued at Florida water tower
HOLLYWOOD, Fla. – Two maintenance workers who were injured while working on a water tower in South Florida have been rescued.

Hollywood city officials say the workers were sandblasting the inside of the Hollywood Water Tower Friday morning when the scaffolding somehow came loose. The men fell about 45 feet …. Original source  : Fire officials rescue 2 maintenance workers injured injured in fall at Florida water tower.

Jaipur IT firm to help BlackBerry users stay connected

JAIPUR – A Jaipur-based software firm claims to have found an answer to the problem that BlackBerry users will face if the government decides to ban its messenger and corporate e-mail services.

Data Infosys, an IT Services company and the largest Internet Service Provider in Rajasthan, is going to launch Bharat Berry, an India-compliant service …. Source article  : Jaipur IT firm to help BlackBerry users stay connected.

High on eyeballs, DD rates for CWG ceremony zoom

NEW DELHI – Having tasted spectacular success with the Commonwealth Games (CWG) opening ceremony, national broadcaster Doordarshan (DD) has hiked advertising rates for the Oct 14 closing ceremony by over 160 percent and expects total revenue from the mega event to “definitely cross” $22 million.

The spot buy rates have been hiked from Rs.90,000 ($2,040) …. Source  : High on eyeballs, DD rates for CWG ceremony zoom.

Mercedes Joins Recall Bandwagon

SAN FRANCISCO (GaeaTimes.com)- 2010 is a year the automobile industry is going to remember very well for the worldwide recall of almost all top car brands! The recall fiasco started with Japanese car giant Toyota and soon others like Honda, GM and BMW joined the bandwagon. The latest car maker to join the list … Read the original article on Gaea Times at : Mercedes Joins Recall Bandwagon.

Poverty In India: Vinod Khosla To Fight It

MUMBAI, INDIA (Gaea Times.com)- The rich businesses men are often blamed for not caring about the economically weaker sections of the society. The view, however, is all set to change with the initiatives of Vinod Khosla. Vinod Khosla, a legendary investor, has announced his intentions of reinvesting his profits from SKS Microfinance …. Source article on Gaea Times at  : Poverty In India: Vinod Khosla To Fight It.

India keeps pushing for greater say for emerging markets

WASHINGTON – India has demanded a greater say for emerging markets in the global economic governance structure reflecting their changing importance and their role in recovery from one of the worst global financial crisis in decades.

Expansion of the International Monetary Fund’s role “is inextricably linked to reform of Quota’s,” Finance Minister Pranab Mukherjee said … Read more >>.

Emerging economies fail to get greater voice in governance

WASHINGTON – Despite a hard push by India, world financial leaders have failed to make progress on reforms in International Monetary Fund (IMF) to give emerging economies a greater say over the global economic governance.

At the end of IMF-World Bank annual meetings here Saturday, Dominique Strauss Kahn, IMF managing director, claimed there had been …. Original source  : Emerging economies fail to get greater voice in governance.

IAF strengthening its ground assets: Air chief

NEW DELHI – The Indian Air Force (IAF) is upgrading and modernizing its existing airfields and bases – rather than creating new ones – with the latest and ultra-modern communications, radar, aircraft landing systems and defensive shields, its top commander says.

A project, designated Modernisation of Airfield Infrastructure (MAFI), was already under way and airfields …. Source  : Gaea News Network.

India pushes for IMF reforms amid fragile recovery

WASHINGTON – India has again pressed for organisational and governance reforms in the International Monetary Fund (IMF) in a “fragile phase of repair and rebuilding” after the global financial crisis.

“While the worst may be behind us, the period of tribulation is not over yet,” Finance Minister Pranab Mukherjee said in his address to IMF …. Original article on Gaea Times at  : India pushes for IMF reforms amid fragile recovery.

Green norms for SEZs to be announced soon

CHENNAI – Guidelines or standards to make all special economic zones (SEZ) environment friendly will be announced soon, an official said Saturday.

Speaking at the conference on Green Homes and Green SEZs organised by Indian Green Building Council (IGBC) here, Export Promotion Council director general L.B. Singhal said: “The union government will shortly notify the … Read more : Green norms for SEZs to be announced soon.

Porsche employees banned from social networking

STUTTGART – Luxury car manufacturer Porsche has banned employees from using internet sites such as Facebook, Google Mail or Ebay during office hours, for fear of industrial spying, German media reported Saturday.

Corporate security chief Rainer Benne told business weekly Wirtschaftswoche that the company feared information could be leaked via social networking site Facebook in … Original source on Gaea Times at : Porsche employees banned from social networking.

G-20 should protect interests of financial consumers: NGO

NEW DELHI – The G-20 should take concrete action to protect the interests of financial services consumers who have been badly hit by the recent downturn in the industry, an NGO working for social justice and economic equity said Saturday.

In light of the global financial crisis and its results on developing countries like …. Source  : G-20 should protect interests of financial consumers: NGO.

New SKS chief barred from taking major decisions

HYDERABAD – The Andhra Pradesh High Court has barred the new chief executive of SKS Microfinance from taking any major decisions before the conclusion of a case related to the controversial sacking of his predecessor Suresh Gurumani.

Gurumani, who was sacked little less than two months after SKS — one of the country’s largest … Read more >>.

CII inks pact to establish green manufacturing centre

NEW DELHI – A green manufacturing center of excellence will be set up in Germany in the Public-Private-Partnership (PPP) mode under a pact inked between the Confederation of Indian Industry (CII), the Central Manufacturing Technology Institute (CMTI) and Germany’s Fraunhoffer Institute, it was announced here Saturday.

According to CII chief Chandrajit Banerjee, the center will …. Original article on Gaea Times at  : CII inks pact to establish green manufacturing centre.

Subsidise ecological fertilisation, demand Madhya Pradesh farmers

DEWAS – Farmers in Madhya Pradesh have demanded a subsidy for practising eco-friendly measures to tackle India’s soil degradation crisis, environmental group Greenpeace India said Saturday.

The farmers held a public hearing in this Madhya Pradesh town to review the major soil health management support systems of the central government and its capability … Read more : Subsidise ecological fertilisation, demand Madhya Pradesh farmers.

Thiruvananthapuram’s new terminal opening still uncertain

THIRUVANATHAPURAM – The Airports Authority of India (AAI) and Air India (AI) are in a blame game over the delay in opening of the new terminal of Thiruvananthapuram airport.

The AAI and AI are entrusted with the ground handling of all the airlines.
An AAI official told IANS on condition of anonymity that they were … Original source on Gaea Times at : Thiruvananthapuram’s new terminal opening still uncertain.

India’s forex reserves rise to $294.16 bn

MUMBAI – India’s foreign exchange reserves increased by $2.563 billion to $294.158 billion for the week ended Oct 1, registering a gain for the third straight week on account of revaluation.

Foreign currency reserve rose $1.978 billion to $266.507 billion during the week, according to the Reserve Bank of India’s weekly statistical supplement.
… Original article on : India’s forex reserves rise to $294.16 bn.

Foreign fund inflows top $3 bn in six days

MUMBAI – Though benchmark indices of Indian equities dipped after a five week rally, the flow of foreign money into the stock markets continued unhindered with total inflows crossing the $3 billion mark within six trading days of October.

According to data available with the Securities and Exchange Board of India (SEBI), foreign institutional investors …. Source article  : Foreign fund inflows top $3 bn in six days.

Buy a book, win a Nano

NEW DELHI – What is the easiest way to own a Nano, the Rs.1 lakh family car that is meant to change the dynamics of Indian roads?

Grab a copy of the book Small Wonder: The Making of Nano from any bookstore, fill up a form and take part in the Grab a Copy, …. Original article  : Buy a book, win a Nano.

Sensex dips after five-week rally (Weekly Market Review)

MUMBAI – The benchmark index for Indian stock markets fell for the first time in five weeks with domestic investors booking profits, although foreign funds continued to invest in equities in substantial amounts.

The Bombay Stock Exchange’s 30-share sensitive index (Sensex) dipped 0.95 percent or 194.78 points to end the week at 20,250.26 points.
… Read more »».

Scottish delegation on promotional visit to India

NEW DELHI – A tourism and trade delegation from Scotland will visit India from Sunday to promote business, tourism, golf, culture and education, an official said Saturday.

“The trade mission provides an excellent opportunity to strengthen Indo-Scottish links across a range of sectors where Scotland has real strengths and expertise,” said Alex Salmond, first …. Read the original article  : Scottish delegation on promotional visit to India.