Business News – Newsletter for October 30, 2010

Business News – Newsletter for October 30, 2010

Saturday, October 30, 2010

New Zealand to host Indian spice festival

AUCKLAND – The aroma of Indian spices will swirl around this New Zealand city as the first ever Indian spice festival kicks off here Sunday.

The five-day festival is being organised by the Spices Board India in collaboration with the Indian High Commission and the Stamford Plaza hotel.
Hundreds of spice traders, importers and exporters …. Read the original article : New Zealand to host Indian spice festival.

Milkfed Punjab yet to recover its Gulf exports

CHANDIGARH – Milkfed Punjab is still coping with the financial jolt it suffered following recession as exports of its desi ghee, which had declined sharply, are yet to recover fully.

“Financial meltdown had badly affected our desi ghee exports to foreign countries. Before the meltdown (in 2008), we were exporting 100 tonnes of ghee (every …. Source article on Gaea Times at : Milkfed Punjab yet to recover its Gulf exports.

British Airways makes 158 mn pound profit

LONDON – British Airways, which had been badly hit by employee strikes and the economic recession, has “flown back” into profit. The airline made 158 million pounds in profit in 2010.

Though an increasing number of business customers led to the profit, British Airways chief Willie Walsh said the whole economic recovery could be threatened … Read more : British Airways makes 158 mn pound profit.

Special Liquidity Adjustment Facility 2 Day Repo Auction: Results

The results of the RBI Repo/Reverse Repo auctions held on October 30, 2010 are:

Amount (face value in Rs. crore)

Item

2 days Repo Auction
(Purchase of securities by RBI)

6.00% Fixed Rate

1. Bids received …. Source article : Special Liquidity Adjustment Facility 2 Day Repo Auction: Results.

Native-born Americans lost jobs, but Asians, Indians did not

WASHINGTON – With the exception of Asian Americans, native-born Americans lost more than a million jobs while foreign-born workers gained hundreds of thousands of jobs as the country emerged from a painful recession, according to a new report.

In April, May and June this year, compared with the same period last year, foreign-born workers gained …. Read the original article : Native-born Americans lost jobs, but Asians, Indians did not.

Over 4.5 mn jobless in Spain

Madrid, Oct 30 (IANS/EFE) Spain has over 4.5 million unemployed people, said a survey that attributed joblessness to the collapse of the country’s real-estate sector during the recession.

According to a survey released by the National Statistics Institute, a total of 4.57 million people were unemployed between July and September and the jobless rate was [..] Read the original article: here.

iPhone outsells BlackBerry globally

TORONTO – Within a week after Apple boss Steve Jobs declared victory over BlackBerry maker Research In Motion (RIM), new numbers released Friday have confirmed that the iPhone has indeed surpassed BlackBerry smart phone in worldwide sales.

According to the data for the third quarter of 2010, the iPhone has dethroned BlackBerry from the fourth … Read : iPhone outsells BlackBerry globally.

Clark and Kent launches Asia coverage for global clients

Mumbai, Oct.30 (ANI-Business Wire India): Clark and Kent, a highly specialized executive search and selection company, is helping its international clients acquire C-level talent in emerging markets, especially in Asia.

It is looking to expand the horizons of North American companies in the Asian and African markets.

The firm bridges the gap between the … Original source on Gaea Times at : Clark and Kent launches Asia coverage for global clients.

Wipro secures major IT services contract with Electricity North West Limited

Bangalore, Oct.30 (ANI-Business Wire India): Wipro Technologies, the global consulting,system integration and outsourcing business of Wipro Limited, has announced that it has entered into a five-year strategic partnership with Electricity North West Limited to deliver end to end service transition and transformational services to maintain their IT systems through a managed service framework.

This collaboration …. Source article on Gaea Times at : Wipro secures major IT services contract with Electricity North West Limited.

YouTube CEO steps down

SAN FRANCISCO – The co-founder of video website YouTube is stepping down as CEO. The move leaves the Google-owned property in the hands of a veteran manager as it attempts to increase its mainstream offerings and boost its profitability.

Chad Hurley, 33, founded the video-sharing site with Steve Chen in 2005 and sold it to …. Source article : YouTube CEO steps down.

US stocks flat after GDP growth report

NEW YORK – US stocks were flat with minor fluctuations Friday despite a slight improvement of US economic growth to 2 percent for the third quarter.

The new figures, which come just days before US congressional elections, matched expectations by economists but are unlikely to be enough to curb the US unemployment rate, which has … Read more »».

US economic experts bat for UNSC seat for India

WASHINGTON – As President Barack Obama travels to India next week, two leading economists have strongly backed India’s case for a permanent seat of the UN Security Council and stronger trade relations.

Obama’s “goal is to strengthen India-US cooperation, but standing between the recent heady past and a future full of promise is a highly …. Original source : US economic experts bat for UNSC seat for India.

Court allows Bluelines in south Delhi, government firm on phase-out

NEW DELHI – The Delhi government Friday said it was not keen on bringing back the ‘killer’ Blueline buses on roads, after the high court ruled that the notification for complete phase-out of these buses by Dec 14 from the capital’s roads will not apply to the buses plying in south Delhi.

“We will … Read more >>.

Delhi now to phase out over 300 RTVs

NEW DELHI – After the ‘killer’ Blueline buses, the Delhi government now wants to phase out more than 300 “dangerous” RTVs – rural transport vehicles – from the city roads.

“The RTVs are dangerous vehicles. There are over 300 RTVs in the capital and we are planning to replace these with mini-buses,” Transport Minister … Read : Delhi now to phase out over 300 RTVs.

US economy grew two percent in third quarter

WASHINGTON – The US economy improved slightly in the third quarter of this year, growing at an annual growth rate of two percent, according to an initial estimate by the Commerce Deparment Friday.

The world’s largest economy grew 1.7 percent in the second quarter of 2010 as it continues to struggle to pull out of …. Original article : US economy grew two percent in third quarter.

Wipro wins IT deal from British energy firm

BANGALORE – Wipros global IT services division won a five-year contract to provide end-to-end services to British power firm Electricity North West, the company said Friday.

“The strategic partnership envisages delivery of transformational services to maintain North Wests IT systems through a managed service framework,” Wipro energy and utilities vice-president Anand Padmanabhan said in a … Read the original article on Gaea Times at : Wipro wins IT deal from British energy firm.

Tata Indicom launches Blackberry Bold 9650 for CDMA users

NEW DELHI – Tata Indicom, the CDMA arm of telecom service provider Tata Teleservices, Friday launched Blackberry Bold 9650, the first combined CDMA-GSM smartphone.

The smartphone offers global roaming, an optical trackpad and enhanced wi-fi and GPS capabilities.
Customers purchasing the handset in October will be given a special data usage offer. … Original source on Gaea Times at : Tata Indicom launches Blackberry Bold 9650 for CDMA users.