Major grains trade lower Tuesday
Chicago | July 09, 2008 12:01:13 AM IST
Grains traded lower Tuesday morning and gained through the day on the Chicago Board of Trade.

 U.S. indexes up slightly Tuesday afternoon
Washington | July 09, 2008 12:01:13 AM IST
U.S. stock indexes posted strong gains Tuesday as oil prices continued to recede from the record high set Friday.

 British budget gap may reach $14.7 billion
London | July 09, 2008 12:01:13 AM IST
The British Treasury is looking at a budget deficit of nearly $15 billion next year, due to the nation's sliding economy, a research group said.

 U.S. indexes post gains Tuesday
Washington | July 09, 2008 12:01:13 AM IST
U.S. stock indexes posted strong gains Tuesday as oil prices continued to recede from the record high set Friday.

 Retail sales gain slightly on week
Washington | July 09, 2008 12:01:13 AM IST
Retail sales in the United States gained marginally on the week ending July 5, the International Council of Shopping Centers-USB reported Tuesday.

 GM may cull overlapping brands
Detroit | July 09, 2008 12:01:13 AM IST
General Motors Corp. may cull certain overlapping vehicle brands from its product line as it swings over to more fuel-efficient vehicles, a U.S. source said.

 Crude oil prices retreat from record
New York, D.c. | July 09, 2008 12:01:13 AM IST
Crude oil prices fell more than $3.75 per barrel on the New York Mercantile Exchange Tuesday as speculators retreated from oil positions.

 BBC raises come despite of scandals
London | July 09, 2008 12:01:13 AM IST
A year of scandals did not stop the British Broadcasting Corp. from awarding senior executives hefty pay raises, observers said.

 Oil man Pickens to promote domestic energy
Dallas | July 09, 2008 12:01:13 AM IST
Texas oil billionaire T. Boone Pickens said he will spend millions on advertising to promote a national move to domestic energy sources.

 British budget gap may reach $14.7 billion
London | July 08, 2008 12:01:13 AM IST
The British Treasury is looking at a budget deficit of nearly $15 billion next year, due to the nation's sliding economy, a research group said.

 West Bengal seeks lowest power plant bid
Kolkata | July 08, 2008 11:05:06 PM IST
West Bengal would offer engineering procurement and construction contracts (EPC) to any company which emerges as the lowest bidder irrespective of the country of origin of the winner as long as it adheres to specifications, said state power minister here Tuesday.

 Uproar over new Canadian texting fees
Toronto | July 08, 2008 12:01:13 AM IST
Plans by two of Canada's three biggest telecommunications companies to impose fees for incoming text messages have been met with howls of anger.

 U.S. carriers improved performances in May
Washington | July 08, 2008 12:01:13 AM IST
U.S. airlines improved their on-time performance in May, the Bureau of Transportation Statistics reported.

 U.S. indexes up slightly Tuesday afternoon
Washington | July 08, 2008 12:01:13 AM IST
U.S. stock indexes rose Tuesday after Federal Reserve Bank Chairman Ben Bernanke said short term lending remains strained.

 Fed considers extending lending programs
Arlington, Va. | July 08, 2008 12:01:13 AM IST
U.S. Federal Reserve Bank Chairman Ben Bernanke said Tuesday the Fed may extend two temporary lending programs for investment banks.

 Canadian Auto Workers union chief retiring
Toronto | July 08, 2008 12:01:13 AM IST
The president of the Canadian Auto Workers union, Buzz Hargrove, announced in Toronto Tuesday he will retire in September.

 Bank shares in Britain tumble
London | July 08, 2008 12:01:13 AM IST
Shares at British bank Bradford & Bingley tumbled more than 17 percent in value Tuesday, raising frustration among shareholders, observers said.

 Chhattisgarh will generate a record 40,000 MW a year: Raman
Raipur | July 08, 2008 9:35:06 PM IST
Chhattisgarh will earn Rs.100 billion ($2.3 billion) per annum from power sales from 2011 when the state's power generation will reach a record 40,000 MW, Chief Minister Raman Singh said Tuesday.

 Chhattisgarh lit up 96 percent villages: Raman Singh
Raipur | July 08, 2008 9:35:06 PM IST
Chhattisgarh has lit up 96 percent of its total 20,000 villages, Chief Minister Raman Singh told the state assembly Tuesday.

 West Bengal bus operators withdarw strike call
Kolkata | July 08, 2008 9:35:06 PM IST
The bus owners associations of West Bengal Tuesday decided to withdraw their call for a strike Thursday after Transport Minister Subhas Chakraborty assured them the fare rates would be revised.

 Apex court for synchronized growth of Delhi
New Delhi | July 08, 2008 9:35:06 PM IST
The Supreme Court Tuesday envisaged synchronized growth of the national capital and the region around it to meet the problem of growing population in Delhi, straining its infrastructure for amenities like power and water.

 Japanese bank to survey railway freight corridor
New Delhi | July 08, 2008 9:35:06 PM IST
The Japanese Bank for International Cooperation (JBIC), which is partly funding the Rs.350 billion ($8 billion) western freight corridor of the Indian Railways, would survey the project, said railway officials Tuesday.

 Best Group to set up JV with European firm
New Delhi | July 08, 2008 9:05:07 PM IST
India's Best Group Tuesday announced it would set up a joint venture with Koki Technik Transmission Systems, one of the leading manufacturers of gear shift components in Europe.

 Laptops sales rising in India
New Delhi | July 08, 2008 9:05:07 PM IST
Laptop sales are rising in India, which now accounts for over 25 percent of the total personal computer (PC) market, an industry body said Tuesday.

 Magazines turn to Internet for flexibility
New York, D.c. | July 08, 2008 12:01:13 AM IST
Time Inc. plans to put the Internet to use to cater subscriptions to magazine readers' changing needs and tastes, the company said.

 CBI reopens case of Australian wheat import fraud
New Delhi | July 08, 2008 8:35:06 PM IST
Reopening a case of alleged irregularities in wheat imports from Australia by the State Trading Corporation (STC) in 1998, the Central Bureau of Investigation (CBI) Tuesday conducted searches at six places in Delhi, Noida and Gurgaon.

 Gas stations protest credit card fees
Irving, Calif. | July 08, 2008 12:01:13 AM IST
As gas prices rise, some U.S. gas stations are taking a proactive stance against fees they pay credit card companies, observers said.

 Bengal Merlin to invest in affordable housing
Kolkata | July 08, 2008 8:05:07 PM IST
Bengal Merlin Housing Ltd (BMHL) is now focusing on affordable housing as part of its corporate social responsibility, said a senior company official here Tuesday.

 Kingfisher Airlines bonds with Fame multiplex chain
Mumbai | July 08, 2008 8:05:07 PM IST
What is common between an airline and a multiplex? Nothing on the surface.

 Challenges remain in world trade talks: Kamal Nath
London | July 08, 2008 8:05:07 PM IST
Commerce and Industry Minister Kamal Nath said Tuesday challenges remain to be overcome in the ongoing Doha Round of world trade talks.

 Illegal workers have their day in court
Washington | July 08, 2008 12:01:13 AM IST
Illegal immigrant workers seeking wages owed by employers have notched a few surprise successes in U.S. courts, observers say.

 U.S. markets up slightly Tuesday morning
Washington | July 08, 2008 12:01:13 AM IST
U.S. stock indexes rose Tuesday in New York as oil prices continued to fall from the record set Friday.

 KZen Equities launches operations in India
Mumbai | July 08, 2008 7:35:06 PM IST
KZen Equities, an Indian incorporated private investment advisory, launched its operations here Tuesday. The firm will help Indians invest outside the country in select global equity investment opportunities.

 EU parliament approves deal on airline emissions
Strasbourg (France) | July 08, 2008 7:35:06 PM IST
All flights starting and landing in Europe will be included in an European Union (EU) Emissions Trade System from 2012, following a vote in the European Parliament Tuesday.

 'Energy efficiency only way to fight soaring demand'
Mumbai | July 08, 2008 7:35:06 PM IST
The global energy demand will be double by 2050 and becoming energy efficient is the only way to fight problems like soaring demand and green house emissions that cause climate change, according to global energy management specialist Jean-Pascal Tricoire.

 Government expects higher summer crop
New Delhi | July 08, 2008 7:35:06 PM IST
India would have a higher summer (kharif) crop this season in view of the good rains and an increased area coming under cultivation, Agriculture Secretary P.K. Mishra said Tuesday.

 Canadian conventional TV revenues flat
Ottawa | July 08, 2008 12:01:13 AM IST
Advertising revenue for the Canadian television sector increased only 1.8 percent in 2007, the Statistics Canada agency reported Tuesday.

 Just three percent of world's mobile phones are recycled: Nokia
Helsinki | July 08, 2008 7:05:07 PM IST
Only three percent of mobile phone users around the world recycle their old cellphones, Finnish handset maker Nokia said Tuesday.

 'Left's exit will not affect West Bengal industry'
Kolkata | July 08, 2008 7:05:07 PM IST
The Left parties' decision to withdraw support to the United Progressive Alliance (UPA) government would have no bearing on the state's industrial prospects, say business barons and chambers in the Left citadel of West Bengal.

 'Building costs in Gulf up by 50 percent this year'
Dubai | July 08, 2008 7:05:07 PM IST
Lack of skilled labour and soaring prices of building materials have pushed building costs in the Gulf by 50 percent in the first half of 2008, according to a leading real estate firm of the region.

 HSBC India launches new product for small businesses
Mumbai | July 08, 2008 7:05:07 PM IST
Hong Kong and Shanghai Banking Corp's (HSBC) India unit Tuesday launched a new product, HSBC Direct, here for small businesses.

 Muslim nations call for global efforts to tackle food crisis (Lead)
Kuala Lumpur | July 08, 2008 7:05:07 PM IST
Muslim leaders from the Group of Eight developing Islamic countries, or D8, Tuesday urged governments to find a solution to the worsening global food crisis, warning that a delay in actions would be especially disastrous for its member countries.

 'Political uncertainty a bad omen for economy' (Lead)
New Delhi | July 08, 2008 6:35:07 PM IST
The current bout of political uncertainty in India could not have come at a worse time, with experts fearing that the fluid political situation will not help in checking inflation.

 As Left pulls out, India Inc. hopes for push to reforms (Roundup)
New Delhi | July 08, 2008 6:35:07 PM IST
With the Left Front withdrawing support to the United Progressive Alliance (UPA) government Tuesday, India Inc. hopes the slow-moving economic reforms will now be put on the fast track.

 Brazil vows to fulfill millennium development goals before 2015
Rio De Janeiro | July 08, 2008 6:05:07 PM IST
Brazil has pledged to fulfil the UN Millennium Development Goals (MDGs) of reducing malnutrition and infant mortality before the deadline of 2015.

 G8 reaffirms aid pledge to Africa, NGOs unimpressed
Toyako (Japan) | July 08, 2008 5:35:06 PM IST
The leaders of the Group of Eight (G8) highly industrialized countries vowed Tuesday to honour a pledge to raise by $25 billion the level of annual aid to Africa by 2010.

 Crude oil prices retreat from record
New York, D.c. | July 08, 2008 12:01:13 AM IST
Crude oil prices fell to less than $140 a barrel Tuesday in New York as speculators retreated from positions taken before the Fourth of July weekend.

 Mulsim leaders call for global efforts to tackle food crisis
Kuala Lumpur | July 08, 2008 5:05:07 PM IST
Muslim leaders from the Group of Eight developing Islamic countries, or D8, Tuesday urged governments to find a solution to the worsening global food crisis, warning that a delay in actions would be especially disastrous for its member countries.

 Toonz to animate tales of Lord Shiva
Thiruvananthapuram | July 08, 2008 5:05:07 PM IST
Toonz Animation India Pvt Ltd, the makers of animation classics like "The Adventures of Tenali Rama" and "Return of Hanuman", is now all set present tales of Lord Shiva.

 Muthoot group plans radio business growth through acquisitions
Chennai | July 08, 2008 5:05:07 PM IST
The Kerala-based Muthoot group, with business interests in finance, real estate, healthcare and education, wants to acquire FM radio stations, a top company official said here Tuesday.

 Farm loans of Rs.1 bn written off in Tripura
Agartala | July 08, 2008 5:05:07 PM IST
State-owned commercial and regional rural banks have waived off Rs.1 billion worth of agricultural loans to small and marginal farmers in Tripura, officials said here Tuesday.

 Market closes 177 points down
Mumbai | July 08, 2008 5:05:07 PM IST
The Indian equities market closed in the red, once again.

 L&T bags Rs.10.47 bn from Indian Railways
Mumbai | July 08, 2008 4:05:07 PM IST
Construction and engineering major Larsen and Toubro (L&T) has bagged a Rs.10.47-billion order from the Indian Railways to set up a wheel manufacturing plant in Bihar, the company said Tuesday.

 Unrest in diamond industry spreads in Gujarat
Ahmedabad | July 08, 2008 3:05:15 PM IST
Unrest in the diamond industry over wage hike spread to Palanpur and Mehsana in north Gujarat Tuesday, even as factory owners claimed operations were normal and workers reported for work.

 As world faces hunger, G8 leaders feast in Japan
London | July 08, 2008 3:05:15 PM IST
A day after Prime Minister Gordon Brown urged Britain not to waste food, a disgusted British press dished out in great detail - with liberal servings of irony - the menu at the world's top table in Japan.

 Economic reforms: The unfinished agenda
New Delhi | July 08, 2008 3:05:08 PM IST
Following are some of the key components of economic reforms, which the United Progressive Alliance (UPA) government was unable to push ahead, primarily because of opposition from Left parties:

 India Inc hopes reforms will now get a push forward
New Delhi | July 08, 2008 2:05:07 PM IST
With Left parties withdrawing support to the United Progressive Alliance (UPA) government Tuesday, India Inc hopes the slow-moving economic reforms programme will now be put on the fast track.

 Pakistan to scrap over 10,000 poverty alleviation schemes
Islamabad | July 08, 2008 1:35:06 PM IST
The Pakistani government is to scrap over 10,000 community-based poverty reduction and employment generation schemes launched by the previous regime.

 Indian equities rise after Left pullout of support (Second Lead)
Mumbai | July 08, 2008 1:35:06 PM IST
Within minutes of Left parties withdrawing support to the United Progressive Alliance (UPA) government, Indian equities rose impressively on major bourses Tuesday, anticipating friendlier policies towards the corporate sector.

 Market trading with loss in afternoon trade (Lead)
Mumbai | July 08, 2008 1:35:06 PM IST
The Indian equities market extended its loss in afternoon trade Tuesday.

 Media asked to ensure responsible aviation news coverage
New Delhi | July 08, 2008 12:35:06 PM IST
Media should be responsible in reporting issues pertaining to flight safety as it not only affects the credit rating of airlines, especially in difficult times as these, but also the nation's image as a whole, experts said at a seminar on Flight Safety.

 Pakistan's economy nosedives, inflation at 19.2 percent
Islamabad | July 08, 2008 12:35:06 PM IST
Pakistan's economy has been in free-fall mode in the first 100 days of the new coalition government, with inflation at 19.2 percent, forex reserves plunging by $2.1 billion and the rupee depreciating by Rs.8.3 against the US dollar.

 'Political uncertainty a bad omen for economy'
New Delhi | July 08, 2008 11:35:06 AM IST
The current bout of political uncertainty in India would not have come at a worse time, with experts hoping the stalemate would be over soon and help check inflation.

 Market trading with loss in early trade
Mumbai | July 08, 2008 11:05:06 AM IST
The Indian equities market was trading with loss in opening trade Tuesday. Selling pressures were witnessed by realty, banking and metal stocks.

 ADB sets up new carbon fund
Manila | July 08, 2008 10:35:06 AM IST
The Asian Development Bank (ADB) said Tuesday it has established a new fund that will use carbon credits generated beyond 2012 to provide urgently needed financing for clean energy projects in the Asia-Pacific region.

 Reliance to sign pact with Peru's state oil firm
Lima | July 08, 2008 10:35:06 AM IST
Peru's state-owned petroleum company Petroperu has announced a pact with Indian conglomerate Reliance Industries Limited (RIL) to explore oil and gas in the Andean nation, Spain's EFE news agency reported Tuesday.

 Urban Indian tourists opting for special interest relaxed holidays
By Madhusree ChatterjeeNew Delhi | July 08, 2008 10:35:06 AM IST
Luxury tourism is redefining itself in urban India with special interest holiday packages to meet the mature market needs in which customers look for "deeper satisfaction" rather than the usual gamut of vacation activities.

 G8 leaders discuss the economy, climate change
Toyako (Japan) | July 08, 2008 10:05:08 AM IST
Group of Eight (G8) leaders turned to the environment and surging oil and food prices Tuesday amid concerns that high commodity prices may further slowdown the global economy.

 JB Group paves way for Indian BPOs in China
New Delhi | July 08, 2008 9:35:06 AM IST
In a path-breaking move, Hong Kong-based globally diversified $3 billion JB Group is paving the way for Indian BPOs to set up shop in China to leverage the IT strengths of the two Asian giants and enable them to grab a larger share of the global pie.

 Free personality project to offer BPO jobs to Muslim youth
New Delhi | July 08, 2008 9:35:06 AM IST
Clad in a black burqa, 20-year-old Zubeena Maryam stretched her 'o's and rolled her 'r's with a perfect American twang along with the rest of her batchmates. A regular at a free personality development programme organized especially for Muslim youth in Delhi, Maryam, like the rest, hopes the programme will help her get a job in a BPO.

 IndyMac cuts back lending, staff
Pasadena, Calif. | July 08, 2008 12:01:13 AM IST
IndyMac Bancorp of Pasadena, Calif., announced Monday it will substantially cut back its home mortgage lending and slash its workforce of 7,200 by about half.

 Study: U.S. hires fairly overseas
Champaign, Ill. | July 08, 2008 12:01:13 AM IST
U.S. companies are spreading good hiring practices around the globe as they set up business in developing countries, a University of Illinois study indicates.

 Prices close lower on CBOT
Chicago | July 08, 2008 12:01:13 AM IST
Pressure from weather, crude oil prices and the dollar sent prices lower Monday on the Chicago Board of Trade.

 G8 nations lower expectations on oil
Toyako, Japan | July 08, 2008 12:01:13 AM IST
Group of Eight members meeting in Japan Monday tried to tone down expectations the nations will be able to blunt high oil prices.

 U.S. stock indexes end roller coaster down
New York | July 08, 2008 12:01:13 AM IST
Losses sustained by Fannie Mae and Freddie Mac, combined with inflation concerns, sent U.S. stock indexes into Monday's close with slight losses.

 Fannie Mae, Freddie Mac shares tumble
New York | July 08, 2008 12:01:13 AM IST
Fannie Mae and Freddie Mac shares tumbled Monday as word circulated about proposed accounting-rule changes that could force them to raise billions of dollars.

 Oil's climbing prices spring $4 leak
New York | July 08, 2008 12:01:13 AM IST
The price for a barrel of crude oil fell for the first time in four sessions, dropping by nearly $4 Monday on the New York Mercantile Exchange.

 Icahn hints at replacing Yahoo! board
Seattle | July 08, 2008 12:01:13 AM IST
The Microsoft-Yahoo! deal could be back on if Carl Icahn replaces Yahoo!'s board with his own slate, the corporate raider said in a letter Monday.

 Hybrid SUV hard to find, dealers say
Detroit | July 08, 2008 12:01:13 AM IST
Limited supply of hybrid sport utility vehicles is thwarting consumers' overwhelming demands for the fuel-efficient vehicles, industry observers said.

 NBC, equity firms buy Weather Channel
New York | July 08, 2008 12:01:13 AM IST
Skies are sunny for NBC Universal and two private equity firms after they sealed a multibillion-dollar deal for The Weather Channel, Wall Street sources said.