Latest International Business News
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iGate CEO Phaneesh Murthy denies charges of sexual harassment
Sacked iGate CEO and president Phaneesh Murthy has denied the charges of sexual harassment against him and claimed that it was a case of extortion. In an audio conference, and said that the all the charges against him were "completely false". "This is without doubt a case of extortion. The same lawyer who had represented the woman in 2002 is representing the woman this time as well. You can ...
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Chinese Premier Li Keqiang calls for a handshake across Himalayas
Chinese Premier Li Keqiang offered New Delhi a "handshake across the Himalayas" and said the world's two most populous nations could become a new engine for the global economy if they could avoid friction on the militarised border. "What we need is a handshake across the Himalayas, what we need is to stand at a higher level to have a birds-eye view of our relations. I am convinced that as long ...
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Sarah Palin disproves climate change as it snowed in Alaska in May
Former Alaska Governor Sarah Palin took to Facebook over the weekend to express her skepticism of global warming. Palin argued that global warming was not happening, pointing that it was snowing in Alaska in May. According to the Huffington Post, she wrote in a post on her Facebook page 'global warming my gluteus maximus'. In her Facebook argument, Palin confuses weather with climate, a ...
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Costing Institute celebrates Annual Day
The Institute of Cost Accountants of India celebrated its Annual Day in which Mr. K. Rahman Khan, Minister of Minority Affairs was the Chief Guest and Mr. M.J.Joseph, Additional Secretary,Ministry of Corporate Affairs was the Guest of Honor. Cost Accountants from across the country, other distinguished guest and luminaries attended the event which was held at Hotel Oberoi. In the inaugural ...
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2018 FIFA World Cup stadium may be delayed until 2017
The completion date for Zenit St. Petersburg's $1.1 billion stadium has been put back again and it may not open until 2017, a decade after construction work began, the head of the government agency auditing the project said. The stadium is to host a 2018 World Cup semifinal, but the new date means there could be a rush to prepare it for scheduled Confederations Cup games in 2017. "The ...
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Andhra markets GAME city at Cannes
Riding on its extensive cinema industry, which produces one of the largest number of films in India, the government of the southern Indian state of Andhra Pradesh is keen to use the latest technological innovations in the industry to create skill development and employment opportunities for its youth. "We are planning to set up a GAME city which will serve as the hub for Gaming, Animation, ...
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Morgan Stanley India to sell wealth management arm to StanChart
MUMBAI - The UK based Standard Chartered (StanChart) Monday announced plans to acquire the Indian private wealth management business of US multinational financial services firm Morgan Stanley for an undisclosed amount as part of plans to expand operations. The acquisition is subject to regulatory approvals. "Standard Chartered India has agreed to acquire Morgan Stanley's onshore private ...
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Morning business news - May 22
AER ARANN TARGETS PASSENGER NUMBERS OF 2 MILLION WITHIN FIVE YEARS - Aer Arann - which operates the Aer Lingus Regional service - has said it will create 50 jobs over the next 12 months and wants to double its passenger numbers to two million a year over the next five years. The new jobs will be for cabin crew, engineering and support roles and will bring staff numbers to 370. A new strategy at ...
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World Biodiversity Day May 22 to highlight extinction challenge
Science News: Chennai: As May 22 is being observed as International Bio Diversity Day, funding agency - Japan International Cooperation Agency's (JICA) role in safeguarding the resources is ...
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After a year of decline global flat panel TV market sees marginal growth in 1Q13 says IHS
Bringing an end to a full year of declines in 2012, global flat panel TV shipments rose slightly in the first quarter of 2013, paving the way for marginal growth in 2013, according to research firm ...
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Shells London redevelopment approved
Plans to redevelop the Shell Centre on London's South Bank have been approved, developers said.The 1.45 million sq ft scheme will transform the 1960s office site, providing new offices for Shell and other businesses as well as hundreds of new homes and shops.Under the plan by Braeburn Estates, a joint venture of Canary Wharf Group and Qatari Diar, there will be open and attractive public ...
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PNG PM threatens to shut down finance department
Papua New Guinea Papua New Guinea's prime minister says he will shut down the country's finance department if he has to while allegations of improper payments are investigated.The opposition has alleged the department paid law firm Paul Paraka Lawyers more than $30 million without the proper approvals. Prime minister Peter O'Neill has suspended the finance secretary and the ...
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Market Buzz World waiting to see if US Fed will end stimulus
Asian stocks traded mostly higher on Wednesday due to the positive sentiment on Wall Street. Tokyo's Nikkei added 1.6 percent to reach 15,500 for the first time in over five years, after the Bank of Japan kept its monetary policy unchanged as expected.Investors will also be eying testimony from Federal Reserve Chair Ben Bernanke due later in the day. European stocks may see a boost ...
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Amplats to start 6 000 job-cuts process
Under a plan announced in January, Amplats said it would cut 14 000 jobs but later scaled down the lay-offs after a backlash from the government and unions. (Madelene Cronje, ...
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Map Room Borders on Top of The World
Yes, the melting polar ice caps are opening up new transportation routes and revealing untapped mineral wealth that will benefit us all. Uh, hold on, say Mark Terry and Adam Scholl. They remind us that increased accessibility could well lead to overlapping and dangerous territorial claims. By Mark Terry and Adam Scholl for World Policy ...
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Austerity Kills Crippling Economic Policies Causing Global Health Crisis
In their new book, "The Body Economic: Why Austerity Kills," economist David Stuckler and physician Sanjay Basu examine the health impacts of austerity across the globe. The authors estimate there have been more than 10,000 additional suicides and up to a million extra cases of depression across Europe and the United States since governments started introducing austerity programs in ...
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Obama’s ratings might be buoyed by pick up in US economy
Tim Cook’s congressional debut, following an appearance at Obama’s State of the Union address in Feb, shows the iPhone maker can no longer afford to keep the low profile in ...
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Microsofts new Xbox faces wider range of competition
On the strength of stylish new showroom offerings, GM, Ford and Chrysler all gained market share in the first quarter for the first time in 20 ...
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Indonesia to sell global bonds in second half
JAKARTA | Wed May 22, 2013 3:44am EDT JAKARTA May 22 (Reuters) - Indonesia plans to issue global bonds in the second half of this year, and dollar bonds in the domestic market in October, the head of the debt office said on Wednesday. Indonesia also plans to issue 20 trillion rupiah ($2 billion) of retail bonds in October, and a global sukuk in September or October, said Robert ...
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GLOBAL MARKETS-Dollar dips shares mixed ahead of Bernanke testimony
* Dollar index dips 0.1 pct, Bund futures rise * Markets bets on 'no-change' signal from Fed chief * European shares steady near multi-year highs By Richard Hubbard LONDON, May 22 (Reuters) - The dollar dipped and benchmark Bund futures rose on Wednesday as expectations hardened that the head of the U.S. central bank will later in the day signal no tapering off of the bank's ...
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Lloyds says wont need to issue new equity CoCos
LONDON (Reuters) - Lloyds Banking Group said on Wednesday that it would be able to meet new capital requirements without having to issue new equity or contingent capital, after Britain's financial regulator updated the bank on its position.Lloyds said it was confident in its capital position and re-affirmed previous targets for its core tier 1 ratio."Our strong capital position enables ...
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China mining services firm plans Australia IPO
Wed May 22, 2013 3:34am EDT * Australia courting Chinese firms for listings * Sino Australia planning to raise A$20 mln in July IPO By Maggie Lu Yueyang SYDNEY, May 22 (Reuters) - Chinese mining services company Sino Australia Oil and Gas Ltd is planning an initial public offering in Australia in July, tapping international investors while domestic markets remain frozen, and braving an uncertain ...
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World W. Bank pledges sh 83 billion to aid peace in Africas Great Lakes
World Bank President Jim Yong Kim unveiled the proposed aid financing for one of Africa's most intractable conflict regions on the first day of a trip with U.N. chief Ban Ki-moon to Democratic Republic ...
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World’s two most powerful men to meet next month
Signalling a major thaw in their relations, US president Barrack Obama and Chinese president Xi Jinping will meet in US next month to give shape to future course of China-US ...
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UK lawmakers to probe transparency of mining oil firms
- Britain's parliament is to probe UK-based mining and oil firms, delving into areas such as transparency and disclosure after troubles at two mining companies burnt some investors' ...
South America Featured
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Shipping Wars: Uruguay and Argentina face off over rival port expansion plans
Argentina and Uruguay both want to be the shipping hubs of South America, or southern South America at least, and both are planning to considerably expand their port infrastructure in Buenos Aires and Montevideo respectively, which is leading to considerable diplomatic strain.
Argentina is a regional power in South America, the country is considered one of the more developed nations on the continent on-par with Uruguay (on paper at least, with a similar per capita income and Human Development Index rating) although the country occupies a majority of the continent with Brazil and presides over a massive coastline. Read more
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