Latest International Business News
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Appeals court directs Ex-Im Bank to explain rationale for loan guarantee to Air India
WASHINGTON - A U.S. appeals court has upheld a decision by the U.S. Export-Import Bank to finance the sale of 30 Boeing wide-body jets to Indian state-owned carrier Air India in a legal challenge brought by Delta Air Lines to the loan guarantee. The court has however directed the government-run bank to better explain its rationale for providing loan guarantee, which Delta claimed as a ...
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Google renews efforts wipe out child porn images from internet
LONDON - Internet giant Google said it is spending $5 million to wipe images of child abuse off the Internet and another $2 million to create tools to find the images and eradicate them. "We're in the business of making information widely available, but there's certain 'information' that should never be created or found," wrote Jacqueline Fuller, director of Google Giving, in a blog post. ...
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GSK negotiating sale of thrombosis drug and plant to Aspen
DURBAN / LONDON - South Africa's biggest generic drug maker Aspen Pharmacare and its subsidiary Aspen Global Incorporated have made an offer to acquire thrombosis drugs and their associated manufacturing site at Notre Dame de Bondeville, France, from GlaxoSmithKline (GSK). "AGI will acquire from GSK the Arixtra and Fraxiparine/Fraxodi brands and business worldwide, except in China, Pakistan ...
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Carbon trading to begin in Shenzhen in bid to cut emission
BEIJING - China, the world's biggest carbon emitter, is set to launch Tuesday its first carbon trading scheme as a pilot project in the southern city of Shenzhen as part of efforts to cut emissions in its key cities. Carbon emissions trading schemes are meant to encourage companies to reduce their carbon dioxide emissions by setting a limit or a cap, on the level of emission that can be ...
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Rise in transportation costs push up UK inflation to 2.7pc
LONDON - The consumer price index (CPI) inflation increased to 2.7% in May, up from 2.4% in April, mainly due to higher fuel costs pushing up transportation costs particularly airfares, the Office for National Statistics (ONS) said Tuesday. The ONS said the rise was due to a record increase in airfares and higher fuel prices. "The inflation rate has returned to the levels seen between ...
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Senior UN officials urge restraint dialogue to defuse tensions fuelling protests in Turkey
18 June 2013 150 Urging "maximum restraint" amid widespread anti-Government protests in Turkey, United Nations Secretary-General Ban Ki-moon and Navi Pillay, the world body's human rights chief, called today for constructive dialogue to defuse tensions in the country. "The atmosphere is still clearly highly combustible," said Ms. Pillay, who is the UN High Commissioner for Human Rights. ...
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Ban appoints Irish major general to head up UNs oldest peacekeeping mission
18 June 2013 150 United Nations Secretary-General Ban Ki-moon announced the appointment today of Major General Michel Finn, of Ireland, as head of Mission and Chief of Staff of the Jerusalem-based UN Truce Supervision Organization (UNTSO), the first such operation the world body set up almost 60 years ago. "Major General Finn succeeds Major General Juha Kilpia of Finland, who will complete ...
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India signs loan agreement with World Bank for US$ 255 million for National AIDS Control Project-IV
An agreement for loan of US$ 255 million (equivalent) from World Bank for the "National AIDS Control Project (NACP-IV)" was signed here today between India and the World Bank. Nilaya Mitash, Joint Secretary, Department of Economic Affairs, Ministry of Finance signed on behalf of the Government of India and Mr.Onno Ruhl, Country Director, World Bank (India) on behalf of the World Bank. ...
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Chidambaram for mobilsation of resources from insurance and pension sector for IDFs
Finance Minister P. Chidambaram on Tuesday said that for Infrastructure Debt Funds (IDFs), we should try to mobilise resources from insurance and pension sectors as these funds are available for long term horizon. Chidambaram, who was speaking after launching the maiden IDF scheme of IIFCL Mutual Fund (IDF) here today, later handed over In-Principle sanction approval letters issued by IIFCL ...
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UNESCO inscribes East Rennell of Solomon Islands on list of world heritage in danger
Beijing, June 18 (Xinhua-ANI): The world heritage site of East Rennell has been inscribed on the list of world heritage in danger due to logging that is affecting the ecosystem of the Solomon Islands' world heritage site, according to a UNESCO press statement on Tuesday. "The World Heritage Committee determined that logging is threatening the outstanding universal value of East Rennell, and ...
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IIT-ian becomes dean of top Singapore business school
Ravi Kumar, an alumnus of the Indian Institute of Technology -Madras (IIT-M), has been appointed dean of the Nanyang Business School (NBS) in Singapore's Nanyang Technological University (NTU), it was announced Tuesday. In a press release issued by the university, Kumar, 61, has been described as "an academic heavyweight with a good blend of east-west experience". Ravi Kumar comes to Singapore ...
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Long jumper Smith qualifies for World Championships
Bermudian long jumper Tyrone Smith has qualified for the World Athletics Championships in Moscow, leaping to a season's best 8.13 metres at a meet in Poland. Smith's jump saw him finish second at the 59th Janusz Kusocinski Memorial Meet in Szczecin, reports CMC. Smith, 28, a two-time Olympian, recently won at a meet in France, and placed fourth in the Czech Republic. He tweeted: "Just ...
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Shaolin temple goes global
The Shaolin Temple, known as the cradle of Chinese kung fu, is preparing to stage its first cultural festival in the US as part of efforts to expand its global clout. The first North American Shaolin Cultural Festival is scheduled to be held from Oct 8 to 14 in Los Angeles, according to Shi Yongxin, abbot of the Buddhist temple in the city of Dengfeng in central China's Henan province, reported ...
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Tabloid world awaits K-childs first pic
The race for getting the first photos of Kim Kardashian's child has began in the tabloid world. According to publishing industry insiders, the first photos of the child could come at a reasonable price to the publisher, who plays it smart, the New York Daily News reported. But an insider from the in the industry has revealed that West would never agree to sell the photos, but if he did, they'd ...
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Mexico to discuss deals worth $150 mn at Paris Air Show
The governor of the Mexican state of Queretaro said Monday that he planned to discuss seven aviation investment projects worth $150 million with different companies during the 2013 Paris Air Show. Jose Calzada said in a press conference at the Le Bourget exhibition centre that he had about 15 meetings planned with aviation and aerospace companies. The governor will be meeting with Canada's ...
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Big security data claims businesses unable to use power to ward off threats McAfee Study
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UN chief urges global efforts for drought desertification
UN Secretary-General Ban Ki- moon has called for a collective global action to build resilience and prepare for droughts, as well as to combat desertification (a type of land degradation). "Droughts are hard to avert, but their effects can be mitigated. Because they rarely observe national borders, they demand a collective response," reported Xinhua citing the UN chief in a message marking this ...
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Possible changes coming to Worlds Fair Park
(WBIR - Knoxville) The Sunsphere is Knoxville's most iconic landmark, and it sits in the middle of another popular attraction, World's Fair Park. "The park has evolved into a really beautiful area," said Marianne Greene, who owns Foundry on the Fair Site, which sits on an acre of land inside the World's Fair Park. Greene said she's seen some major improvements ...
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Call for overhaul of drug industry business model
By Ben HirschlerLONDON (Reuters) - Pharmaceutical companies need to boost the benefits of drug research by working with regulators and healthcare providers to overhaul the way medicines are approved and paid for, a think-tank backed by investors says.After years of disappointing research and development (R&D) productivity, a new report backed by leading institutional investors sees ...
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Streamlined News World Record Swim Lesson Coach Gets Suspension
PHOENIX, Arizona, June 18. IMAGINE 34,000 people around the world jumping into swimming pools for a common cause -- well, two common causes, I suppose. Today was the annual World's Largest Swimming Lesson, and it's reported that about 34,000 kids in 15 countries participated in swimming lessons at 11 am Eastern time today. That would break the Guinness world record for the most ...
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Jaguar stuns auto world with 2014 F-Type convertible
Fifty-two years after the introduction of arguably the first most beautiful car in the world by Jaguar, the British luxury auto maker is re-writing history with 2014 F-Type ...
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Shell uses sabotage claims to avoid blame for Nigeria oil spills
Shell's persistent claims that theft and sabotage are responsible for almost all the oil spills at its operation in Nigeria could have been exaggerated, an international watchdog has ...
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Lord Bilimoria The world loves British goods. Its time to put some fizz in our exports
Going back to my childhood in India, the mark of "Made in Great Britain" as a guarantee of quality resonates strongly, and as a nation the UK is still capable of producing world-class products to export - such as Jaguar and Land Rover cars, sought after across the world, from the USA to China and India. Without taking away from London's status as the international finance ...
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We were not leaned on over branch sale says Lloyds
The bosses of Lloyds Banking Group have denied that they were told by politicians to favour the sale of more than 600 branches to the Co-op over rival ...
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Australia v Iraq what we learned from the World Cup qualifier
For 48 hours before the game, a major Sydney road was rechristened as the Tim Cahill Expressway. This was a man who had scored his country's first ever World Cup goal and at times had dragged the team through qualification. For years, he has been the source of goals when all others had run dry. Yet with 13 minutes remaining ...
Latin America Focus
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Latin American unity plagued by tensions
Division and suspicion seem the order of the day in Latin America at present, negating any optimism that the countries of the region may one day move toward a regional integration model based on that of the EU.
Latin America has seen itself become heavily divided over the issue of whether to readmit Honduras to the Organization of American States (OAS) after the 2009 coup, with all the Central American states accepting the new government while big regional players like Brazil and Mexico insist that more must be done before they’ll recognize it. Meanwhile, President Alan Garcia of Peru has told Latin America news providers that there is a quiet arms race occurring in the region. In all, it seems that regional integration along the same lines as the EU remains a long way off at present. Read more
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