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China gets blame for intellectual theft

Sat, 25 May 2013 20:04:55 -0400

Intellectual property theft is supposedly costing the United States more than US$300 billion each year. A study in the US has shown this is equivalent to all US exports to Asia. The 11-month study by a Congressional Commission found that software and other product theft was on an unprecedented scale. Commission co-chair Jon Huntsman, the former US ambassador to China, told reporters the ...

Venezuela to meet toilet paper demand

Sat, 25 May 2013 20:06:52 -0400

The Venezuelan government has vowed to end a toilet paper shortage in the country. With the commodity in high demand, Venezuela's National Assembly has said it will agree to the importation of 39 million rolls of toilet paper. Toothpaste and soap are also on the Venezuelan shopping list following a chronic shortage brought on by currency controls, which have restricted the landing of ...

Powerful women join Forbes list

Sat, 25 May 2013 20:08:18 -0400

Forbes has listed the world's most powerful woman for 2013 as Angela Merkel. She has become Forbes' number one for the 8th time. This year the list featured 8 heads of state, including the German Chancellor. Other women listed were two new billionaires to the list, women's clothing designer Tory Burch and Spanx's Sara Blakely, who both own their own companies. They were two of 24 ...

Board approves News Corp split into two entities

Fri, 24 May 2013 16:56:04 -0400

WASHINGTON - Rupert Murdoch's News Corporation Friday announced the planned separation of the $76-billion conglomerate into two distinct publicly traded companies, with one to be renamed 21st Century Fox and the publishing firm to retain the News Corp brand. The split has been formally approved by the Board of Directors. The Company announced appointments to the Boards of Directors of both ...

Italian watchdog says Vatican Bank has improved

Sat, 25 May 2013 20:03:01 -0400

The Vatican Bank has been the subject of a 10 page report from its newly formed financial watchdog agency. The report has revealed that there were some attempts last year to use the bank to launder money. In 2012 there were six suspicious transaction reports, two of which were passed on to Vatican prosecutors for investigation. Autorita Informazione Finanziaria, the watchdog, was created ...

Damac to deliver Oceanscape apartments four years late

Sat, 25 May 2013 11:21:02 -0400

Damac Properties has begun handing over apartments in its long-awaited Oceanscape project in Abu Dhabi. Most investors bought apartments off-the-plan in 2006, paying 30% of their purchase price in the first 120 days of reserving their property. After seven years Damac has finally finished the project, one of its first and probably last Abu Dhabi ventures. Despite being four years late, ...

China to allow US auditors access to records of Chinese firms

Fri, 24 May 2013 16:37:07 -0400

BEIJING - Chinese regulators Friday announced that they have signed a memorandum of understanding with their US counterparts giving American authorities increased access to documents from Chinese audit firms. The signing of the MOU between China Securities Regulatory Commission (CSRC), the Ministry of Finance (MOF) and the US Public Company Accounting Oversight Board (PCAOB) is a significant ...

Croatia looking to oil exploration in Adriatic Sea to revive economy

Fri, 24 May 2013 16:42:23 -0400

ZAGREB/LONDON - Croatia, soon to become the 28th member of the European Union,- is looking to undiscovered oil and gas fields in the Adriatic Sea to revive its ailing economy, according to the country's president. Ivo Josipovic told CNN that Croatia is searching for partners in the energy sector to help reveal oil and gas "green fields" in the waters that separate the Balkan nations and ...

Amazon ventures into fan fiction promotion

Fri, 24 May 2013 16:39:36 -0400

WASHINGTON - Amazon, the largest online retailer of books, movies, music and games, Friday offered its Kindle e-book platform to fan fiction authors to sell some of their work. Fan fiction is literature inspired by popular books, shows, movies, comics, music, and games. Publication outside of blogs and online fanzines is often difficult because of copyright issues. Amazon Publishing has ...

China central bank report promises financial sector reforms

Fri, 24 May 2013 16:37:38 -0400

BEIJING - China is planning to steadily push forward market-oriented reform in its interest rates and exchange rates mechanisms this year as part of the financial sector reforms to better serve the real economy, a central bank report said on Friday. The "China Financial Stability Report (2013) released by the People's Bank of China stressed that it would be steadily promoting the interest ...

UK urged by IMF to bring forward high value spending

Wed, 22 May 2013 15:53:31 -0400

LONDON - In a critique of the United Kingdom's austerity programme, the International Monetary Fund Wednesday urged the Europe's third largest economy to rebalance the policy to make the transition to a high-investment and more export-oriented economy. "The UK could boost growth by bringing forward measures already included in its fiscal plan, such as spending on infrastructure and job ...

Tajikistan blocks YouTube without official explanation

Sat, 25 May 2013 21:50:01 -0400

Tajikistan has blocked YouTube for the third time in less than a year without an official explanation, a representative of the country's internet industry said. The ban was ordered by the governmental Communications Service, said Asomiddin Atoyev, who heads the association of the country's internet service providers. The orders came by email or text message, depending on the provider, Atoyev ...

US Air Force launches telecom satellite

Sat, 25 May 2013 18:50:01 -0400

A Delta IV rocket has successfully launched a Wideband Global SATCOM 5 satellite of the US Air Force from Cape Canaveral. The US Air Force's satellite is headed for a geostationary orbit off the east coast of the US and will take several months to reach it, Spaceflightnow.com reported. The launch, conducted by Lockheed Martin-Boeing's joint venture United Launch Alliance, was postponed by a day ...

African Leaders Condemn Ongoing Use of Cluster Bombs

Sat, 25 May 2013 18:15:03 -0400

Thirty-six African countries have formally condemned the use of cluster bombs and urged all of Africa to join a global ban on the deadly weapons. Delegates at a conference in Lome, Togo say they are gravely concerned about the ongoing use of cluster munitions and the mounting number of victims, including women and children. They say 14 African countries have a cluster bomb problem, ...

RIL-BP make gas discovery in KG-D6 block

Sat, 25 May 2013 08:40:21 -0400

Reliance Industries Limited (RIL) has announced a huge natural gas discovery in the flagging eastern offshore KG-D6 block which would help in arresting falling output. In a statement issued here it has claimed that the KGD6-MJ1 well was drilled in a water depth of 1,024 metres - and to a total depth of 4,509 metres (4.5 kilometres below seabed). "Formation evaluation indicates a gross gas and ...

News Corp. Board approved companys split into two public traded entities

Sat, 25 May 2013 07:50:02 -0400

News Corporation Board has approved the split of its company into two publicly traded entities putting a step forward in separating its entertainment businesses from the publishing division. The board announced the terms of share distribution, named the board of directors for both the firms, and a 500 million dollars stock-buypack program for the new corporation. In a report by Fox News, the ...

Bang With Friends mysterious CEO revealed

Sat, 25 May 2013 07:30:02 -0400

Bang with Friends- the controversial Facebook app run by its CEO and co-founder who just goes by his initial 'C' has been revealed accidentally by Internet New York which included the founders' name on the online ballot. BWF app creator Colin Hodge, 28, and Omri Mor had remained anonymous till last week, but the leak of their identity through Internet Week New York disappointed Hodge, the Daily ...

Japans ORIX announces capital participation in major Mongolian financial firm

Sat, 25 May 2013 04:20:02 -0400

Orix Corporation, a leading integrated financial services group of Japan, has announced its decision to foray into the Mongolian financial services business through an alliance with TenGer Financial Group (TFG), a major Mongolian financial group. The Japanese investment giant has reached an agreement to purchase about 16 percent of shares in TFG and will obtain the necessary permits in view of ...

9-year-old girl tells McDonalds CEO to not trick kids into eating unhealthy food

Sat, 25 May 2013 03:40:01 -0400

A 9-year-old girl took on the head of McDonald's Corp. on healthy eating during the fast-food chain's annual shareholders meeting on Thursday. Fourth-grader Hannah Robertson, who spoke up during the gathering's question-and-answer session, told the fast food mogul that it would be nice if he stopped trying to trick kids into wanting to eat junk food all the time, the New York Daily News ...

China planning to give private businesses larger role in economy

Sat, 25 May 2013 03:20:05 -0400

China is planning to give a larger role to private businesses and market forces in its economy. The move comes in a major policy shift intended to improve living conditions for the middle class and to make China a stronger competitor on the global stage. According to the New York Times, in a speech to party cadres, Chinese Prime Minister, Li Keqiang, said the central government would reduce the ...

Car sharing with strangers a growing business in US

Sat, 25 May 2013 02:20:01 -0400

The sight of a hitchhiker on the curb trying to hail some charitable driver could be a thing of the past as the practice of car sharing grows. As a result of the recent economic crisis, the US has seen a wide range of companies ready to convert any and every car into a rental vehicle and provide its proprietor with extra income, while offering clients much lower prices than what a taxi or a ...

Russia plans four spacecraft launches in 2014

Sat, 25 May 2013 00:00:01 -0400

Russia's Energia Rocket and Space Corporation will make four launches next year from the Pacific Ocean-based Odyssey platform under the Sea Launch programme, an official said. Corporation president Vitaly Lopota said that after 2014, Energia will be able to make five or more launches a year. Next year's launches will be the first since one of Sea Launch's Zenit vehicles carrying an Intelsat-27 ...

Moily says proposed natural gas price revision to apply to all companies

Fri, 24 May 2013 23:50:04 -0400

Strongly refuting allegations of favouring Reliance Industries, Petroleum and Natural Gas Minister M Veerappa Moily has said that the proposed revision in natural gas price will apply to all companies, including state-owned ONGC. He said the proposed increase in natural gas price is being done strictly in line with the formula proposed by the Prime Minister appointed panel headed by Economic ...

Historic web page recovered by online appeal

Sat, 25 May 2013 07:30:02 -0400

An attempt to recover the first web page from the earliest days of web world has been successful. The page recovered belonged to 1991 and was demonstrated by Sir Tim. Cern launched its project to recover artefacts and documents from those earliest days. Web creators Tim Berners-Lee and Robert Cailliau initiated a public appeal for files, hardware and software tracing the earliest days of web ...

Ex-world champ warns Hamilton to look out for biggest threat Rosberg in Monaco

Sat, 25 May 2013 06:10:01 -0400

Former world champion Damon Hill has warned Mercedes ace Lewis Hamilton that his biggest threat to second triumph in Monaco is his teammate Nico Rosberg, instead of big guns Sebastian Vettel or Fernando Alonso. The German son of Finland's 1982 champion Keke Rosberg has been a revelation this year, out-qualifying Hamilton for the last two races and establishing his credentials by keeping the 2008 ...

Neurotech industry is putting its mind to video games

Sat, 25 May 2013 22:29:13 -0400

In the past decade, video games have helped push cutting-edge technologies such as sensor-based computing - Nintendo’s Wii - and gesture-based computing - Microsoft’s Kinect - into the mainstream. Neurotech boosters hope video games can do the same for their budding ...

UFC 160 live blog Fighters from around the world competing at MGM Grand

Sat, 25 May 2013 22:25:30 -0400

Dennis Bermudez pounds on Max Holloway on his way to a split decision win in their bout at UFC 160 Friday, May 24, 2013 at the MGM Grand Garden ...

China is now worlds second largest moviegoing country

Sat, 25 May 2013 22:23:39 -0400

May 25--Related: Mayor Villaraigosa off to China to promote business Movies are bigger than ever. At least, they are in China. The nation of 1.35 billion became the second largest filmgoing market on the planet last year, its box office receipts of $2.7 billion muscling out Japan from that spot. That was a whopping 36 percent higher than the 2011 ticket sales in the People's Republic, and ...

Demonstrators rally against Monsanto in global anti-GMO protest

Sat, 25 May 2013 22:15:13 -0400

FILE - This Aug. 31, 2011 file photo shows the Monsanto corporate logo at their exhibit booth during the Farm Progress Show, in Decatur, Ill. Marches and rallies against seed giant Monsanto are getting under way across the U.S. and in dozens of foreign countries Saturday, May 25, 2013. ';March Against Monsanto'; protesters say they want to call attention to the dangers posed by ...

Some doctors seeking business experience to deal with changing health care

Sat, 25 May 2013 22:08:18 -0400

But an increasing number of physicians have accepted the situation and are seeking business training as they adjust to pressures that they cut costs and improve the quality of health ...

Real World Economics U.S. tax policy has winners and losers

Sat, 25 May 2013 22:02:09 -0400

Problems in the U.S. system of taxing corporate income were front and center this past week as senators grilled Apple CEO Tim Cook about his company's tax minimization measures. Yet no one argued that Apple has violated U.S. tax laws or even that it is particularly aggressive or egregious in its tax avoidance. It is simply large, well-known and highly global in its operations. And this last ...

Book Review The Girls of Atomic City The Untold Story of the Women Who Helped Win World War II by Denise Kiernan

Sat, 25 May 2013 21:31:38 -0400

Now in their 80s and 90s, the girls of Atomic City are no longer in the dark about the jobs they took during the summer of 1943. But back then, as employees of the Clinton Engineering Works, they knew only a few things for sure about the place they would call home.The work site had belonged to 1,000 East Tennessee farming families up until 1942, when the government seized 60,000 acres of their ...

Companies dying of embarrassment Business Mentors Warns

Sat, 25 May 2013 21:19:17 -0400

Source: Photos.com Small and medium sized enterprises (SMEs) are too ashamed to seek help when they need it most, Business Mentors New Zealand warns. Many SMEs run into trouble early in their development but won't ask for the help that could see them through a rough patch, chief executive Ray Schofield says. "There are lots of challenges in those first few months and early years of ...

Doug Ford denies drug-dealing allegations demands apology

Sat, 25 May 2013 21:16:02 -0400

Public opinion of Mayor Rob Ford all that counts TORONTO - Councillor Doug Ford wants an apology. The embattled Etobicoke councillor says media reports that he sold drugs as young man are an "absolute lie" motivated by a desire to politically attack both him and his brother Mayor Rob Ford. ...

This week the World Affairs Council

Sat, 25 May 2013 21:10:57 -0400

Cranberry Water Park is ready for business

Sat, 25 May 2013 21:08:48 -0400

The next round of upgrades being considered for the Cranberry Water Park includes the possible addition of a baby pool, officials said, but the project depends on ...

A World War II Memorial day

Sat, 25 May 2013 21:08:30 -0400

At an entrance to the World War II Memorial, a lone man cut a solemn figure as he balanced an iPad in one hand, a cane in the other, to film 12 bronze panels depicting the lives of soldiers during the ...

The worlds top universities in 2012

Sat, 25 May 2013 20:57:36 -0400

a popular global ranking of universities put out this week by Quacquarelli Symonds (QS), a British-based higher education consulting firm, whose annual World University Rankings list is topped by three institutions that call a city of Cambridge home.Overall, the United States and United Kingdom dominate the leader board, but they're increasingly being challenged in crucial science and ...

Haitang Bay promotes rapid growth in Sanyas hospitality industry

Sat, 25 May 2013 20:24:09 -0400

Sanya is likely to see the highest rate of growth to date in its hospitality industry as its hotel expansion has been at a rate unprecedented in China. The city has attracted over 40 international hotel operators to open new hotels in the city. Compared with Yalong Bay, there is far more potential within the luxury hotel market in Haitang Bay. The first phase of the newly built Haitang Bay ...

Make-A-Wish whisks local teen to Disney World

Sat, 25 May 2013 20:23:51 -0400

(WBIR-Knoxville) Make-A-Wish Foundation whisked a local teen battling heart issues to the most magical place on earth. Garrett, 14, has had several surgeries in the past on his heart. His one wish was to travel to Orlando and visit Disney World, Universal and all the other theme parks. On Saturday, he took off from McGhee Tyson Airport to Florida. His mother, Connie Metcalf, said she's ...

Doug Ford disputes Globe report on family history with drug dealing

Sat, 25 May 2013 20:22:40 -0400

Toronto City Councillor Doug Ford, photographed in his office at the family business in Etobicoke, Ont., in February, 2011. (Peter Power/The Globe and ...

Business Butterfly farming brings fluttering fortunes for Taita

Sat, 25 May 2013 20:21:06 -0400

Whenever I meet with people and tell them that I am a butterfly farmer, they look at me with a sense of incredulity and ...

Business MPs dont cry over pay curb wasteful spending

Sat, 25 May 2013 20:21:05 -0400

Government looks for money to finance old debts and recurrent expenditure. The current account deficit (which is a measure of payments for imports against earnings from exports) has continued to widen over the past ten years or so, with the value of imports rising faster than that of exports. This has further raised questions on the country's ability to expand its exports ...

Fracking energy revolution begins to rock the world

Sat, 25 May 2013 20:19:48 -0400

FILE - In this March 29, 2013 file photo, workers tend to a well head during a hydraulic fracturing operation at an Encana Oil & Gas (USA) Inc. gas well outside Rifle, in western Colorado. The Obama administration is proposing a rule that would require companies that drill for oil and natural gas on federal lands to publicly disclose chemicals used in hydraulic fracturing operations. The new ...

Memorials to a Forgotten World War

Sat, 25 May 2013 20:17:01 -0400

Memory can fail you, abandon you, deceive you. It will. To thwart this, we make monuments and plaques and street signs and scatter them about like breadcrumbs in a forest. It doesn’t work. A monument can’t come to you and tell you about a great person or important event; you have to find it, or stumble upon it, and pause in your daily perambulations to read the thing. And with few ...

John Rice vice chairman of General Electric talks global business

Sat, 25 May 2013 20:14:28 -0400

John Rice, vice chairman of General Electric Co., discusses the demands his business faces with $150 billion in revenue last year and more than 300,000 ...

ORTEC Names Aantjes Global CTO

Sat, 25 May 2013 20:14:19 -0400

has promoted Corne Aantjes, CEO of its North American operations, to serve as global CTO, and to the global executive board.Aantjes joined the company in 1994 as a solution architect and opened ORTEC's North American headquarters in Atlanta in 2001. He will now relocate to ORTEC's new global headquarters, which just opened in the Netherlands.The logistics optimization software company ...

Business week in review

Sat, 25 May 2013 20:13:35 -0400

Ruby McGregor-Smith cheered investors at the opening bell on Monday when FTSE 250 outsourcing group Mitie reported a 5.4 per cent rise in pre-tax profit to 111.1m. Suitably for a company that does the catering at the Chelsea Flower show, boss McGregor-Smith said Mitie "continues to grow". Ivan Glasenberg, the billionaire mastermind behind the Glencore Xstrata mining and commodities ...

Protesters around the world march against Monsanto

Sat, 25 May 2013 20:06:06 -0400

LOS ANGELES (AP) -- Organizers say two million people marched in protest against seed giant Monsanto in hundreds of rallies across the U.S. and in over 50 other countries on ...

Chiles indigenous fight worlds largest gold miners to protect environment

Sat, 25 May 2013 19:56:45 -0400

EL CORRAL, Chile – The Diaguita Indians live in the foothills of the Andes, just downstream from the world's highest gold mine, where for as long as anyone can remember they've drunk straight from the glacier-fed river that irrigates their orchards and vineyards with its clear water. Then thousands of mine workers and their huge machines moved in, building a road alongside the ...

Re turns shaky on global turmoil renewed dollar strength

Sat, 25 May 2013 19:52:35 -0400

Nifty recently touched 28-month highs before cooling off, while the benchmark 10-year G-sec yield slipped to a 3-year low on rate cut speculation. The rupee, which had been hovering in a 53-55 range for most part of this year, weakened to 56 - an 8 month low on global risk aversion and renewed dollar strength. Firstly, the global markets turned shaky after ...

Corporate tax our mainstream parties all fawned over multinationals | the big issue

Sat, 25 May 2013 19:29:02 -0400

How our tax inspectors fell in love with tycoons ", Nick Cohen).Britain's mainstream parties pretend to differ on the taxation of multi-nationals yet were happy with Revenue & Customs cutting sweetheart deals. They also pretend to differ on the EU, yet are committed, as are many Eurosceptic Tory MPs, to the free movement of labour within an ever expanding, albeit looser, EU.This is ...

5-time Sprint Cup champ Jimmie Johnson seeking to make history at the Coca-Cola 600

Sat, 25 May 2013 19:20:53 -0400

Matt Kenseth looks on as crew members work on his car during practice for Sunday's NASCAR Sprint Cup series Coca-Cola 600 auto race at Charlotte Motor Speedway in Concord, N.C., Thursday, May 23, 2013. (AP Photo/Nell ...

Conquering Everest 60 facts about the worlds tallest mountain

Sat, 25 May 2013 19:19:25 -0400

Sixty years after Sir Edmund Hillary and Tenzing Norgay first reached the peak of the highest mountain on Earth, Kathryn Bromwich offers 60 facts about the top of the ...

A flood of cash to buy up the water companies

Sat, 25 May 2013 19:19:21 -0400

If City analysts are right, Severn Trent chief executive Tony Wray should be celebrating his final annual figures at the helm with a glass of champagne rather than the tap water the listed utility supplies to 3.7m homes and businesses. Scribblers at Socit Gnrale have forecast another bumper year, with revenue up to 1.84bn and a pre-tax and interest profit of 501m - a margin that is, once again, ...

Business week in review

Sat, 25 May 2013 19:19:18 -0400

Co-op in disarray as finance chief Steve Humes quits

Sat, 25 May 2013 19:19:17 -0400

The finance boss of the Co-operative Group has been forced to resign from the funerals-to-supermarkets group as its banking division lurches from crisis to crisis, leaving 6.5 million customers fretting over their ...

How wealth of Silicon Valleys tech elite created a world apart

Sat, 25 May 2013 19:14:41 -0400

San Francisco 's rush hour. From the pavement you can see your reflection in the windows, but you can't see in. The buses have no markings or logos, no advertised destinations or stops.It doesn't matter. Everyone knows what they are. "Transport for a breed apart. For a community that is separate but not equal," said Diamond Dave Whitaker, a self-professed beat poet and ...

Was jittery Thursday a foretaste of another global economic crash

Sat, 25 May 2013 19:14:34 -0400

quantitative easing , but by artificially inflating the prices of stocks and bonds they're just storing up an almighty crash for the future.That's the argument of City bears, who warn that while last week's slide may be reversed in the days ahead, the sharp fall in share prices that spread from Tokyo to Wall Street and London was a foretaste of the reckoning that will inevitably ...

Tony Blair is asked to help secure release of mining employees in Guinea

Sat, 25 May 2013 19:14:26 -0400

French human rights lawyer Rachel Lindon has asked Tony Blair, pictured, to assist in securing the release of two mining company employees in Guinea. Photograph: Maxa/Landov/Barcroft ...

Big companies low taxes ‘a broken system’

Sat, 25 May 2013 18:45:58 -0400

The soda industry’s success at legally avoiding taxes shows why so many economists and tax experts believe the U.S. corporate-tax code is terribly ...

Indonesia is seeing a new corporate colonialism

Sat, 25 May 2013 18:32:03 -0400

Indonesia as local and multinational companies have been encouraged to seize and then deforest customary land - land owned by indigenous people and administered in accordance with their customs. More than 600 were recorded in 2011, with 22 deaths and hundreds of injuries. The true number is probably far greater, say watchdog groups.The Indonesian national human rights commission reported more ...

Doug Ford says drug allegations against him are not true

Sat, 25 May 2013 17:20:27 -0400

Toronto Coun. Doug Ford says allegations that he once dealt hashish are "not true" and an "outright lie." In an interview with CP24, Ford denied ...

Rob Fords brother Doug sold hashish in 80s alleges newspaper Doug denies all

Sat, 25 May 2013 17:13:56 -0400

The Toronto mayor's brother and city councillor has denied allegations in a Globe and Mail story he was once a hashish dealer. The mayor's brother says he doesn't do ...

Doing Online Business In The Cloud

Sat, 25 May 2013 17:06:38 -0400

If your company isn't utilizing cloud computing technology, you risk falling behind in the marketplace. The cloud makes it easier to manage, share and store content and data, and the figures show that your competition has most likely already moved to the cloud or is about to make the switch. Gartner predicts global IT spending will exceed $3.7 trillion this year, and the chief analyst at ...

Montrealers join global anti-GMO protest

Sat, 25 May 2013 17:05:41 -0400

A woman holds a sign as people gather for the global march against Monsanto and genetically modified foods in downtown Montreal on Saturday. A few thousand people marched in Montreal in cold and rainy weather against the agricultural biotechnology ...

Cruise industry group adopts Passengers Bill of Rights

Sat, 25 May 2013 16:58:53 -0400

The head of the Cruise Lines International Association says its new "Cruise Passenger Bill of Rights" adopts many practices U.S.-based lines already use. The CLIA, the largest trade group in the industry, plans to ask the International Maritime Organization to recognize the bill of rights, ABC News reported Saturday. The document says passengers must be allowed to disembark if the ...

Global Voices Reject Genetically Modified Seed Giant in March Against Monsanto

Sat, 25 May 2013 15:54:08 -0400

March Against Monsanto to reject the genetically modified seed giant.The march, ecofeminist Dr. Vandana Shiva has said, "is inspired by the love for freedom and democracy, the love for the Earth, the soil, the seed." It "is a call to end the dictatorship over seeds, over life, over food and over our ...

Drive or fly What summer travel shows about economy

Sat, 25 May 2013 15:39:57 -0400

(CBS News) Now that the seasons are officially switching over to the warm weather months, many families start planning their getaways. Economists use these trips to monitor how our nation's financial system is doing. AAA is not expecting a huge amount of travel on Memorial Day weekend, yet travel experts believe that this summer will have a steady, but slow, increase in people leaving on ...

Suspicious package leads to evacuation of Towson library

Sat, 25 May 2013 14:53:10 -0400

A suspicious package left under a bench outside the Towson public library that led to the building's evacuation Saturday morning turned out to be harmless, county police reported. The bag contained clothes that had been left as a donation to the homeless, police spokesman Cpl. John Wachter said. Police received a report at 11:11 a.m. of a package that had been left behind by two men, ...

TRA Participates in Business Continuity Management Forum

Sat, 25 May 2013 14:44:20 -0400

WAM ABU DHABI: The UAE Telecommunications Regulatory Authority (TRA) participated in the Disaster Recovery Institute International's (DRI) Regional Business Continuity Management (BCM) Forum in Abu Dhabi in early May. Held for the first time, this forum provided a platform for industry specialists to share their knowledge and experience on specific matters related to ?Building Emergency ...

Microsoft Reveals The Xbox One

Sat, 25 May 2013 14:27:19 -0400

Microsoft promises the Xbox One will be more than just a game console, but a "living room" with a TV tuner and cable box. Users will be able to switch between watching TV and gaming instantly through the Kinect ...

Ex-Yugoslavia war crimes tribunal marks 20 years of business

Sat, 25 May 2013 14:11:39 -0400

This weekend marks the 20th anniversary of the creation of the UN special war crimes tribunal for the former Yugoslavia. The court in the Hague has indicted 161 people and sentenced 136. Two dozen cases are ongoing. The tribunal’s business is due to wind up by 2016. The arrest of Serbia’s former President Milosevic was a breakthrough. But the tribunal has been criticised for the ...

World Thirst for Energy

Sat, 25 May 2013 14:06:33 -0400

As the global economy slowly recovers from the 2008 financial crisis, indicators point to a significant mid- and long-term rise in energy consumption, specifically in oil and natural gas. Despite recent developments in renewable energy resources and the increasing production of hydrocarbon from shale reserves, it looks likely that both consumption and prices will climb higher over the coming ...

Social Media Evangelization for World Communications Day

Sat, 25 May 2013 14:02:02 -0400

Initiative Invites Catholic Media Offices Around the World To Share Online Pastoral ResourcesROME, May 10, 2013 (Zenit.org) - On the occasion of the this year's World Communications Day, the Pontifical Council for Social Communications is inviting people from around the world to partake in the "Mesa Comun" (Shared Table). The initiative allows the faithful of the Catholic Church to ...

Ford asked for $9m to ease worker pain

Sat, 25 May 2013 13:42:17 -0400

THE State Government has asked Ford to contribute $9 million to an assistance package for local workers and communities after the company ceases vehicle manufacturing in ...

Microsoft cleared of Xbox patent violation Saudi Press Agency

Sat, 25 May 2013 13:40:21 -0400

(Saudi Press Agency (Saudi Arabia) Via Acquire Media NewsEdge) San Francisco, Rajab 14, 1434, May 24, 2013, SPA -- Days after it unveiled the newest version of its Xbox gaming system, Microsoft has been cleared of violating a wireless patent in current versions of the popular console. Motorola ...

PH makes it to Fiba World U18 finals

Sat, 25 May 2013 13:36:56 -0400

THE PHILIPPINE Under-18 team pulled off a historic feat as the young Nationals slipped past India, 21-19, in the finals to capture the Fiba Asia U18 3×3 championship Friday night in Bangkok. By winning the title, the Philippine team of Arvin Tolentino, Prince Rivero, Thirdy Ravena, Kobe Paras and coach John Flores earned the right to represent the region in the Fiba World U18 3×3 ...

Feds look to snag corporate sponsors for Ottawa events

Sat, 25 May 2013 13:34:08 -0400

A cash-strapped federal agency is actively looking for corporate sponsors to fill gaping holes in its budget. The National Capital Commission is reviewing a proposal to bring in almost $4.5 million in new sponsorship money over the next five years to promote its cultural jewels in the Ottawa area. (Adrian Wyld/The Canadian ...

Walt Disney One man and his mouse... and how they blighted our world

Sat, 25 May 2013 13:32:20 -0400

If you wanted to nominate the most influential Americans of the 20th century, you could begin with politicians and artists. But those choices misunderstand the country and the way it regards desire, and irrational desire, as human rights. Americans call that the pursuit of happiness. And feeling good about yourself depends on services, facilities, panaceas, and shopping. So you'd have to ...

Rugby World class expertise is snapped up by test rivals

Sat, 25 May 2013 13:30:00 -0400

It's no surprise New Zealand is pick-pocketed by so many rivals - by the World Cup, five of the top 10 nations will likely be coached by Kiwis. There will be, if he survives, Robbie Deans at the Wallabies; Warren Gatland at Wales; Joe Schmidt at Ireland and, according to speculation in Edinburgh, Vern Cotter at Scotland. It wasn't that long ago that they worked here. In 2006, all of them, ...

Tennis GD gets down to the business of coaching

Sat, 25 May 2013 13:30:00 -0400

Former New Zealand Davis Cup representative GD Jones was packing his bags for New York, dreams of a long professional tennis career over. With an MBA the culmination of years of academic study at home and abroad, Jones was eyeing up America's financial capital; as the door to tennis was closing, another opened. A call from a South African friend forced that tennis door open again ...

The nature of fame the Lady Gaga professor who became a global star

Sat, 25 May 2013 13:27:19 -0400

Professor Mathieu Deflem finally realised that something truly strange had happened to him when people started asking him for his autograph.For the professor of sociology at the University of South Carolina is not ...

Are Todays App Companies Amusing Us to Death or Building the Future

Sat, 25 May 2013 13:27:02 -0400

Reuters The national conversation of late has revolved around a trio of Washington scandals, a weather disaster, and the seesaw views in financial markets about whether crisis looms. Yet for all their prominence, none are as tied to trends that will shape our collective future as the myriad of events that took place this week in New York City under the banner ...

Did British intel try to recruit London attack suspect

Sat, 25 May 2013 13:25:24 -0400

A police officer stands guard outside the Woolwich Barracks in London May 24, 2013, in response to the bloody attack when a British soldier was killed in the nearby street. (AP ...

The coolest job in the world

Sat, 25 May 2013 12:47:38 -0400

MOST dream job campaigns feature tropical islands, but the Australian Antarctic Division has a much icier location in mind for its latest recruiting ...

Stars Coach Names 25…For World Cup Double Header

Sat, 25 May 2013 12:37:28 -0400

black stars players GHANA COACH Kwesi Appiah has named a 25- man squad for next month’s World Cup qualifiers against Sudan and Lesotho. Dominic Adiyiah returns to the Black Stars as Appiah includes four home-based players for the two away matches. Fatau Dauda (Ashgold, Ghana), Daniel Agyei (Liberty Professionals, Ghana) and Stephen Adams (Aduana Stars, Ghana) are the goalkeepers. For the ...

Microsoft knuckles under yanks YouTube app for Windows Phone

Sat, 25 May 2013 12:37:05 -0400

Computerworld - Microsoft has bowed to pressure from Google and pulled the YouTube app from its Windows Phone Store that earlier this month triggered a cease-and-desist letter from the search giant. The two companies will instead collaborate on a YouTube app that abides by the Google-owned video site's terms of service. "Microsoft and YouTube are working together to update the new ...

Pennsylvania native strives to fly from worlds wonders

Sat, 25 May 2013 12:33:54 -0400

Jon Potter didn't need to be asked twice. When a guard pointed to the top of the Bent Pyramid, Potter quickly climbed up through cracks in its limestone face. The 22-year-old Lawrenceville native carried the equipment of a small ...

New hope for descendants of World War II veterans

Sat, 25 May 2013 12:27:20 -0400

After hundreds of amendments, the United States Senate Judiciary Committee approved the bill and finally submitted it to the Senate floor. On its last day of committee deliberation on May 22, 2013, a provision allowing children of Filipino World War II veterans to immigrate immediately, irrespective of priority dates, was adopted as one of the many amendments. It is now part of the senate ...

Linda Harvey Backs Companies That Fire Openly Gay Employees To Uphold Moral Standards

Sat, 25 May 2013 12:23:56 -0400

"Mission: America" radio program on Monday that employers should have the right to keep "open homosexuals or cross-dressers" from "modeling that lifestyle to kids." Harvey, who for years has warned ...

Video The economy and summer travel

Sat, 25 May 2013 12:21:48 -0400

With many Americans planning a summer vacation, how they travel says a lot about the U.S. economy. USA Today national business travel correspondent Charisse Jones discusses the recovery and the kick-off of the summer travel ...

Apple Loop Macs Made In Texas iOS 7 Goes Black And White Microsoft Mocks Siri

Sat, 25 May 2013 11:38:41 -0400

Washington , D.C. this week to address a bi-partisan Senate subcommittee that criticized the company for using tax loopholes and keeping the majority of its cash overseas to avoid paying billions of dollars in U.S. taxes. Sen. Carl Levin and Sen. John McCain had harsh words for Apple in their opening statements and in the report assembled by the committee's staff detailing why Cook and co. ...

Second Group of Bahrainis Graduate from Tamkeen’s Accountancy and Finance Programmes

Sat, 25 May 2013 11:35:44 -0400

Manama, May 25. (BNA) -- A graduation ceremony was held on Saturday (May 25, 2013) for the second group of Bahraini professionals who benefited from Tamkeen's Accountancy, Finance and Islamic Finance programmes. The 100 graduates, received certificates in a number of professional qualifications after completing the course requirements, conducted at the Ernst & Young Training Centre. The ...

Tougher standards to fight corruption in the resources industry

Sat, 25 May 2013 11:34:15 -0400

Australia More of the world's governments have signed up to measures designed to reduce corruption in the global resources industry.Around 3.5 billion people live in poor countries that are rich in resources but they do not see the trillions of dollars that flow from their mineral and energy reserves. Last week, the United Kingdom and France joined the Extractive Industries Transparency ...

Trenberth Global Warming Is Here To Stay Whichever Way You Look At It

Sat, 25 May 2013 11:33:33 -0400

While the overall warming is about 0.16C per decade, there are three ten-year periods where there was a hiatus in warming, as the graph above shows, from 1977 to 1986, from 1987 to 1996, and from 2001 to 2012. But at each end of these periods there were big jumps. We find exactly the same sort of flat periods in climate model projections, lasting easily up to 15 years in ...

Saudis Nitaqat law Procedures implemented in Indian workers interest says Finance Minister Al-Faisal

Sat, 25 May 2013 11:27:06 -0400

Jeddah: In a bid to allay India's concerns over the controversial 'Nitaqat' labour law, Saudi Arabia's Foreign Minister Prince Saud Al-Faisal today said "procedures" are being taken in the "best interest of Indian workers".The Nitaqat law and the ongoing drive to identify workers who are overstaying in the Arab Kingdom was one of the main areas of focus ...

Artists vie for global exposure

Sat, 25 May 2013 11:22:51 -0400

Up to 30 researchers are feared to have suffered internal radiation exposure after an experiment went awry at a Japan Atomic Energy Agency ...

This week in the world of progressive state blogs Gov. Tancredo Pipeline votes. Cutting 1er taxes

Sat, 25 May 2013 11:21:46 -0400

Each Saturday, this feature links and excerpts commentary and reporting from a dozen progressive state blogs in the past seven days around the nation. The idea is not only to spotlight specific issues but to give readers who may not know their state has a progressive blog or two a place to become regularly informed about doings in their back yard. Just as states with progressive lawmakers and ...

Putin Business amnesty bill needs changes

Sat, 25 May 2013 11:14:48 -0400

Russian President Vladimir Putin said a bill that would free thousands of jailed businessmen required revisions. RIA Novosti reported Saturday the office of Russia's business ombudsman Boris Titov estimates 110,000 businessmen could be directly affected by the bill. Andrei Nazarov, who co-authored the bill with Titov, said it would be ready for consideration by lawmakers "within three ...

Jordan economy set to grow 3.5 pct in 2013 - central banker

Sat, 25 May 2013 10:58:34 -0400

DEAD SEA, Jordan | Sat May 25, 2013 10:58am EDT DEAD SEA, Jordan May 25 (Reuters) - Jordan's economy is expected to grow around 3.5 percent this year driven by remittances, higher domestic consumption and some pickup in construction activity, the kingdom's Central Bank governor said on Saturday. Ziad Fariz told Reuters on the sidelines of a World Economic Forum (WEF) conference ...

World Tragic end for 64 stone man who ate himself to death

Sat, 25 May 2013 10:46:30 -0400

Desperate Nairobians out to do everything to join this exclusive fraternity, are now falling into the hands of conmen, who at a fee are promising ...

Lack of top skills hits business hard

Sat, 25 May 2013 10:40:57 -0400

A LACK of logistics skills is hampering South Africa’s ability to compete in the global market, with about 65 percent of employers struggling to fill tactical and strategic level positions in supply chain ...

Obamacare Will Bring Drug Industry $35 Billion In Profits

Sat, 25 May 2013 10:39:31 -0400

The pharmaceutical industry will reap between $10 billion and $35 billion in additional profits over the next decade thanks to the Affordable Care Act, also known as Obamacare, a new analysis from London-based GlobalData shows. (Image credit: AFP/Getty Images via @daylife) Despite expiring patents on blockbuster drugs and a wave of new regulation from the Affordable Care Act that will cost drug ...

Sony Microsoft or Nintendo Were In A Console Rut

Sat, 25 May 2013 10:39:31 -0400

week's Xbox One announcement . The "best" part of the hour long presentation was near the beginning, when it was demonstrated that the Xbox could flip seamlessly between television and the console with a simple voice or gesture command. The audience cheered as the screen flipped forward between a game and TV, and it did feel vaguely futuristic. But when you stop and think about ...

Palestinian president urges investment to boost economy

Sat, 25 May 2013 10:35:35 -0400

Palestinian president Mahmoud Abbas has called for investment and joint ventures in tourism, energy and industry to help improve the economic prospects and security of his ...

‘Abenomics’ boosting Japan’s economy

Sat, 25 May 2013 10:34:46 -0400

TOKYO - After years of grinding malaise, Japan suddenly has some of its bling back. A humbled Sony - once a titan of Japan Inc. - recently sprang back into the black for the first time in five years, courtesy of a plunging yen. Honda, another corporate icon, triumphantly announced a return to Formula One racing, rejoining an exclusive club of high-performance carmakers after having slunk away ...

Mike Bloomberg Wants to Fucking Destroy the Taxi Industry Heres How He Could Do It

Sat, 25 May 2013 10:24:11 -0400

fucking destroy " the city's taxi industry when he leaves office on January 1. Bloomberg's frustration with New York's yellow cabs and their drivers stems from their unwillingness to adopt new technology such asaccepting electronic passenger hails from smartphones, and their resistance to one of the mayor's pet projects, a ...

Suspicious Package On Board Flight From Tallahassee

Sat, 25 May 2013 10:19:38 -0400

MIAMI (CBSMiami) – A suspicious package on board a flight from Tallahassee Saturday. According to police, there are 43 people on board American Eagle Flight 3491 to Miami International ...

Russian pays $1.5M to go to space with DiCaprio at Cannes auction

Sat, 25 May 2013 10:15:46 -0400

Leonardo DiCaprio arrives at a photocall for the film "The Great Gatsby" during the 66th annual Cannes International Film Festival in Cannes, France on May 15, 2013. UPI/David ...

Five climbers feared dead on Nepal mountainside

Sat, 25 May 2013 10:15:44 -0400

Officials in Nepal said five missing mountain climbers were likely killed by an avalanche on Mount Kanchenjunga earlier this week. The Nepal tourism ministry said the group went missing while descending the mountain and included climbers from Nepal, Hungary and South Korea. "All our efforts to trace them have failed," Mingma Sherpa, the organizer of the expedition, told the BBC. ...

Do you know that there is a country up for sale Do you know that its finance agriculture and retail sectors are being put on the market Perhaps you are already aware of this due to various media reports. But then again maybe you are not be

Sat, 25 May 2013 10:09:34 -0400

Do you know that there is a country up for sale? Do you know that its finance, agriculture and retail sectors are being put 'on the market'? Perhaps you are already aware of this due to various media reports. But then again, maybe you are not because it's all being carried out behind closed doors in Brussels. The EU-India Free Trade Agreement (FTA), something that could ...

Improving economy changes political landscape

Sat, 25 May 2013 09:41:41 -0400

FILE - In this May 15, 2013, file photo, President Barack Obama speaks on the Internal Revenue Service's targeting of conservative groups for extra tax scrutiny in the East Room of the White House in Washington. The economy is clearly, if slowly, recovering on Obamas watch and robbing Republicans of a central argument against Democrats. But the alleged misbehavior by the Internal Revenue ...

More corporate sponsors on Parliament Hill Why a proposals under review

Sat, 25 May 2013 09:37:57 -0400

OTTAWA -- McDonald's golden arches on Parliament Hill? Tim Hortons billboards at the Governor General's residence? Nothing quite so crass is in the works, but a cash-strapped federal agency is actively looking for corporate sponsors to fill gaping holes in its budget. The National Capital Commission is reviewing a proposal to bring in almost $4.5 million in new sponsorship money ...

Is Documentary Film Viable in a Sensationalized Media World

Sat, 25 May 2013 09:21:38 -0400

There has been a major shift in media culture as most TV networks have abandoned long-form information programming. In these times, with Twitter playing a big part in disseminating news, TV has to be punchy, quick and visual. The age of media mergers has seen showbiz merging with news biz, and soundbites have become shorter as the newscast story count rises. Significantly, the best TV criticism ...

Shell pulls out of African downstream market

Sat, 25 May 2013 09:10:18 -0400

The major oil company Shell has sold its downstream businesses in 14 African countries for around US$ 1 billion. Shell products however still would be sold to ...

Doing business in Africa becoming easier

Sat, 25 May 2013 09:10:11 -0400

Foreign investments in Africa are strongly increasing as the continent displays on of the world's highest growth numbers. African analysts hold that this is a consequence of improved business environments in ...

World Pakistan school bus fire kills 16 children

Sat, 25 May 2013 08:43:19 -0400

children , aged between four and 10, were just a few kilometres from their school in Gujrat, about 200km (120 miles) south-east of the capital Islamabad, when the incident ...

Were No. 2 How the world views Canadas influence

Sat, 25 May 2013 08:34:49 -0400

If the world was a high school cafeteria, Canada would probably be sitting at a table with the athletes and cheerleaders, suggests a new global popularity poll. Canada ranked second in a ...

TRA Participates in the 5th World TelecommunicationsICT Policy Forum

Sat, 25 May 2013 08:33:30 -0400

Manama, May 25. (BNA) --Telecommunication Regulatory Authority represented the Kingdome of Bahrain at the 5th World Telecommunications/ICT Policy Forum (WTPF) held by the International Telecommunication Union (ITU) in Geneva, on 14-16 May, 2013 with a theme of 'International Internet-related Public Policy Issues'. TRA Bahrain was invited to chair the second Working Group which ...

Ferris wheel ride world record broken in Chicago

Sat, 25 May 2013 08:10:51 -0400

A manager of Chicago's Navy Pier rode the tourist spot's Ferris wheel for more than two days - 384 times, up and around - bringing the world record for the longest ride to the birthplace of the amusement park ...

BUAV answers to Mauritius campaign reporting

Sat, 25 May 2013 08:08:38 -0400

The UK activist group BUAV, which is running a campaign against alleged mistreatment of monkeys by Mauritian breeders, threatens afrol News with "legal consequences" over its reporting of the ...

Japan PM vows all possible help for Myanmar economy

Sat, 25 May 2013 07:41:55 -0400

YANGON (AFP) - Japan's premier on Saturday pledged "all possible assistance" to kick-start Myanmar's ailing economy, hailing a major industrial zone near Yangon as a symbol of development for the impoverished nation.Prime Minister Shinzo Abe, who is touting the potential of Japanese businesses to boost the once junta-ruled nation's economy, visited the Thilawa project -- ...

The business model that propelled Germany to top of the Champions League

Sat, 25 May 2013 07:41:46 -0400

Borussia Dortmund's players celebrate at the end of the UEFA Champions League semi-final second leg against Real Madrid at the Santiago Bernabeu stadium in Madrid. Dortmund reached the final after winning 4-3 on aggregate. Pierre-Philippe Marcou / ...

World French army begins Mali withdrawal

Sat, 25 May 2013 07:39:54 -0400

Saturday's withdrawal comes just two days after Islamist rebels targeted an army barracks and French-run uranium mine in neighbouring Niger, killing 21 people. French special forces helped Nigerien soldiers end a hostage siege at the barracks on ...

Superior Farms names industry veteran as CEO

Sat, 25 May 2013 07:38:31 -0400

Davis lamb packer Superior Farms has chosen an Idaho-based beef industry veteran as its new CEO.Rick Stott has been serving as executive vice president of business development for Agri Beef Co., headquartered in Boise, Idaho.Over nearly 20 years, he also has served as president of Snake River Farms (a subsidiary of Agri Beef) and as Agri Beef's vice president, treasurer and corporate ...

Hollywoods visual effects industry in trouble

Sat, 25 May 2013 07:35:46 -0400

Iron Man is the latest superhero to take Hollywood by storm. The third film of the billion dollar franchise is packed with action and computer-generated visual effects that capture the imagination of the audience. To see Iron man donning his suit is pure joy for people who enjoy this genre. But the companies in Hollywood that make such visuals possible are in grave ...

City honors World War I monument

Sat, 25 May 2013 07:33:59 -0400

Mayor Tom Henry joined local veterans, City Councilman Tom Didier and park officials Friday in rededicating a World War I memorial moved to McCulloch Park.The memorial, installed on Nov. 11, 1924, had been located behind a fence on the grounds of General Electric for the last 89 years. It has hundreds of names on it, all GE employees who served in World War I. Included are the names of six GE ...

IOC official to observe FIBA 3x3 World Tour qualifier for Rio 2016 inclusion review

Sat, 25 May 2013 07:33:22 -0400

The World Class Swimming Programme, one of the five aquatic disciplines, within British Swimming is seeking a successful leader to strategically manage the Sports Science and Sports Medicine (SSSM) ...

Qatars Nakilat set to enter luxury yacht business

Sat, 25 May 2013 07:27:18 -0400

Qatar Gas Transport Company (Nakilat) is to diversify from its primary operation of overseeing the world's largest fleet of LNG vessels and start building luxury yachts, the company's managing director told Arabian ...

Are we ready for a mobile-first world

Sat, 25 May 2013 07:23:52 -0400

announced new capabilities in its network software to make video streams run more smoothly over mobile networks. Among other things, the enhancements can reduce video stalling by 90 percent, according to the company. But even Sandro Tavares, head of marketing for NSN's Mobile Core business, sees "mobile-first" viewing habits as part of the future. "Now that the networks are ...

Will Rob Fords supporters leave Ford Nation

Sat, 25 May 2013 07:22:58 -0400

Will supporters continue to back Toronto Mayor Rob Ford following allegations that he was recorded on video appearing to smoke crack cocaine? (Nathan Denette/Canadian ...

IMFs Lagarde avoids charges in French payout scandal

Sat, 25 May 2013 07:19:43 -0400

Lagarde was questioned for a total of 24 hours by prosecutors working for a court that probes cases of ministerial misconduct over her 2007 handling of a row that resulted in €400-million being paid to controversial business figure Bernard Tapie. "My status as assisted witness is not a surprise," she told reporters as she left the Paris courthouse late on Friday. "I have ...

Tsunami forces Maldives election delay set to hit economy hard

Sat, 25 May 2013 06:39:36 -0400

The killer tsunami that battered the Maldives has forced the postponement of parliamentary elections, the government said Tuesday, warning the atoll island nation's tourist-based economy would be hit hard by the disaster.Chief government spokesperson Ahmed Shaheed said the economic damage to the atoll island nation was estimated at more than 1.3 billion dollars, or twice the tiny Indian ...

Goway Launches Worlds Best Adventures Brochure

Sat, 25 May 2013 06:38:27 -0400

Goway Travel's exclusive adventure specialist division of ADVENTURESIncorporated, has announced the online launch of its 2012 World's Best Adventures brochure. The brochure contains over 50 of the world's best adventures and covers every style of adventure travel. Goway's most popular choices from Africa, Asia and Latin America are included. The adventures are as diverse as ...

SITA World Tours Introduces Affordable India

Sat, 25 May 2013 06:38:26 -0400

SITA World Tours, a recognized leader in international travel for more than seven decades, has announced the introduction of Affordable India, an exciting, new tour product line designed to attract a growing budget oriented segment of the travel market. According to Hardeep Sidhu, SITA's Product Manager for India, the new collection of India itineraries is the result of an increased ...

IOPS AGM sees strengthening measures for global oversight

Sat, 25 May 2013 06:35:47 -0400

The International Organisation of Pension Supervisors (IOPS) has approved a series of guidelines and reports which are designed to strengthen the supervisory oversight of global pension systems, and to protect vulnerable fund members and retirees. At its 2009 Annual General Meeting, IOPS agreed to these measures in relation to the recent challenging and volatile economic conditions. ...

Aviva sets out plans for European business

Sat, 25 May 2013 06:35:47 -0400

Aviva is set to transform its European business by taking full advantage of the growth opportunities presented in the area, and will be integrating its businesses across Europe. In a review of its current presence in Europe, Aviva recognised that the European market offers strong growth potential, with the region’s personal financial assets standing at €40trn, and an anticipated ...

EC’s OTC Derivatives consultation met largely with praise from industry

Sat, 25 May 2013 06:35:42 -0400

The Investment Management Association (IMA) has welcomed the European Commission’s consultation of OTC Derivatives, which aims to improve market infrastructure and to ensure an efficient, safe and robust derivatives market. The IMA particularly welcomes the consultation, which also seeks to improve this market following the credit crisis and Lehman administration, in its claim the ...

PRI removes five companies from signatory list and pledges to step up transparency

Sat, 25 May 2013 06:35:39 -0400

The UN-backed Principles for Responsible Investment Initiative (PRI) has delisted five financial institutions from its signatories for failing to participate in its annual Reporting and Assessment process. Participation is mandatory for asset owner and investment manager signatories, although organisations new to the initiative are granted a grace year to allow them to observe and decide ...

Greek economy in dire need of reforms

Sat, 25 May 2013 06:35:36 -0400

Greece is in need of radical reforms to its pension system if it is to cease being a burden on longer-term fiscal sustainability, and to prevent a rise in pension costs that would otherwise see these accounting for more than 20 per cent of GDP by 2050, warns the Organisation for Economic Co-operation and Development (OECD). In ...

China snatches 18 swimming golds to spearhead Military World Games

Sat, 25 May 2013 06:31:37 -0400

Chinese swimmers maintained their momentum in swimming at the Military World Games on Wednesday, grabbing four more gold medals and obtaining 18 in total out of 36 available in the pool. After four days' competition at the Military World Games, which is set to close on July 24, Chinese military athletes altogether collected 18 golds from swimming and piled up 22 gold, leading the medals ...

Six Chinese sailors to attend Clipper Round World sailing race

Sat, 25 May 2013 06:31:21 -0400

Six Chinese amateur sailors will embark on the yacht named Qingdao to attend the 2011-2012 Clipper Round the World Yacht Race, local sports administration said Wednesday. The six sailors, who are manager, journalist, college student and private entrepreneurs, took training for several months in Qingdao city and two-week training in England, said Lin Zhiwei, head of local sports general ...

Ghana slips in FIFA world rankings

Sat, 25 May 2013 06:31:18 -0400

Ghana dropped further three places in the latest FIFA world ranking, the Ghana Football Association (GFA) announced here on Wednesday. A statement on the website of the country's footbal association said Ghana had slipped three places to 36th position in the world ranking from the previous 33rd position it was ranked in last month, on the world stage, while ranking 3rd on the continent after ...

Australian Karl Muggeridge to replace injured Xaus at World Superbike in UK

Sat, 25 May 2013 06:31:16 -0400

Australian motorcycle racer Karl Muggeridge will replace Ruben Xaus at the World Superbike races in Britain, as Xaus suffered from injuries due to a crash, Fox Sports Australia reported on Wednesday. Earlier, Castrol Honda team had fielded Alex Lowes after Jonny Rea was sidelined by injury, but the team has to pull in a second substitute after their second rider, Xaus suffered a horrible crash. ...

We can let fission fizzle out in a renewable world

Sat, 25 May 2013 05:28:14 -0400

Why would anyone choose to reinvest in a form of power that seems not to have been harnessed properly? At Chernobyl and Fukushima the world had two very close shaves. Not a very impressive safety record for a technology that has been pampered with billions of dollars of investment over 60 ...

China plans to reduce states role in the economy

Sat, 25 May 2013 05:08:22 -0400

The country’s new prime minister, Li Keqiang, said this month that the central government would reduce the state’s role in economic ...

Ferrari World Abu Dhabi to move to 7-day ops

Sat, 25 May 2013 05:08:13 -0400

"There's been a growing demand for a continuous entertainment offering and the appeal of Yas Island as a leisure destination is now even higher," said Andy Keeling, park manager, Ferrari World Abu ...

International Retirement Scheme opens to UK Limited Companies

Sat, 25 May 2013 05:01:37 -0400

A new tax-efficient Pension Trust that allows UK Limited Companies to provide retirement packages for their employees who have responsibilities outside the UK has been launched by s615(6) Limited. The International Retirement Benefit Scheme had previously only been open to direct clients, but for the first time will be offered as a new international pensions solution, and can stand ...

Landmark securities fraud settlement reached against Shell

Sat, 25 May 2013 05:01:35 -0400

The largest securities fraud settlement ever has been reached in Europe, with a Dutch appeals court ordering Royal Dutch Shell plc to begin the payment of $381million, plus interest, to a foundation representing a group of institutional investors from 17 European countries. Investors from Canada and Australia were also represented, and in total more than 150 institutional investors were ...

Significant variations in European countries’ reactions to global downturn

Sat, 25 May 2013 05:01:34 -0400

European countries’ pension markets have experienced mixed reactions to the global crisis, although UK businesses are at a ‘severe competitive disadvantage’ in Europe due to weaknesses in private and state pension systems, says Aon Consulting. The employee risk and benefits management firm has produced a report detailing the state of the pensions markets in individual ...

Swiss economy still suffering

Sat, 25 May 2013 05:01:27 -0400

The prospects for the Swiss economy have changed marginally in the latest Financial Market Test Switzerland, conducted by Credit Suisse in cooperation with the Centre for European Economic Research (ZEW). The Credit Suisse ZEW indicator of economic expectations crawled up by a mere 0.6 points to the -57.1 mark, and 65.3 per cent of financial market experts forecast further deterioration of ...

Growing number of multinationals considering global policies

Sat, 25 May 2013 05:01:20 -0400

The number of multinationals that plan to implement global funding policies across all aspects of retirement plan management by 2010 has increased to 87 per cent, according to Mercer. The financial consultant’s Multinational Survey also shows that 85 per cent of multinationals will use some form of ‘global’ approach to set their investment objectives by 2010, and 61 per ...

Global pension systems ‘tested on every level’

Sat, 25 May 2013 05:01:19 -0400

show that assets fell from around US$25trn to US$20trn, with the global pensions balance sheet also shrinking by around 29 per cent in 2008. The financial consultant says this reflects the combined effects of poor performing assets and lower government bond yields. ';While the ramifications of this global economic crisis will be played out for many years to come, the striking ...

Recession looms for Swiss economy

Sat, 25 May 2013 05:01:17 -0400

The Swiss economy is set to slide into recession in 2009, predict experts at Credit Suisse. Switzerland’s real economy finally felt the full force of the financial crisis in late 2008. Previous to this, the country had held up considerably better than that of other industrialised nations, but economists fear that Switzerland’s gross domestic product (GDP) could decline by 0.6 ...

SGAM sells London business

Sat, 25 May 2013 05:01:15 -0400

Societe Generale Asset Management (SGAM) has sold its London subsidiary (SGAM UK) to GLG Partners, Inc. SGAM UK currently manages $8.2bn worth of assets, equating to around 2.5 per cent of overall assets managed by SGAM. The transaction will see SGAM UK shares sold to GLG, and is expected to be finalised in the first half of 2009, subject to regulatory approval. GLG intends to ...

Norway Global fund suffers 7.7 drop

Sat, 25 May 2013 05:01:11 -0400

Norway’s Government Pension Fund – Global recorded all-time low returns of -7.7 per cent in quarter three of 2008 (Q3 2008), 1.8 per cent lower than that on the benchmark portfolio defined by the Ministry of Finance, according to the latest quarterly report by Norges Bank Investment Management (NBIM). NOK 128bn of transfers were made to the fund in the quarter, and at the end ...

Liquidation shock provokes industry warning

Sat, 25 May 2013 04:35:02 -0400

The importance of pension fund trustees continuing to review the strength of their sponsoring employers is highlighted by a sharp rise in the number of insolvency events, according to Watson Wyatt. The financial consultant has looked at figures released by the Insolvency Service, which it said show there were 4,059 insolvent liquidations in quarter three of 2008 – a figure which is ...

db x-trackers achieves massive global growth

Sat, 25 May 2013 04:35:00 -0400

The year 2008 represented a record growth in assets under management (AUM) for db x-trackers, Deutsche Bank’s exchange traded fund (ETF) platform, amongst all ETF providers globally. The past 21 months have brought db x-trackers up to the third largest ETF provider in Europe, and the sixth largest globally. Between the beginning of 2008 and 30 September 2008, db x-trackers’ ...

Lowest asset growth among world top managers

Sat, 25 May 2013 04:34:55 -0400

The total assets under management among the world’s 500 largest fund managers grew by around nine per cent in 2007 to US$69.4trn, according to ...

Launch of world’s fifth largest insurance company

Sat, 25 May 2013 04:34:53 -0400

Aviva Investors has officially launched, marking the creation of the world’s fifth largest insurance company. The company is investing to transform its asset management business over the coming years, which will significantly increase its contribution to the Aviva Group’s profit, and will become an ';investment powerhouse on a global scale';. The single business ...

Sarkozy accusation leads to industry call for clarification

Sat, 25 May 2013 04:34:52 -0400

French President Nicolas Sarkozy has blamed the current financial turmoil on hedge funds. At the United Nations General Assembly on Tuesday 23 September 2008, Sarkozy stated that an overhaul and more regulation are necessary for the global financial system. He also said it should become less opaque. Sarkozy called for a punishment to those responsible for the current crisis and alleged ...

Swiss economy will neither boom nor bust

Sat, 25 May 2013 04:34:52 -0400

The Swiss economy is expected to neither boom nor go bust in 2009, according to economists at Credit Suisse. Thus far, the Swiss economy has proven to be robust, and although the current economic climate has had a negative impact on perception, it has had little reflection in the economic data. Economists say that the Swiss economy, despite seeing economic growth below its potential, will ...

World pension assets grow to US$12 trn

Sat, 25 May 2013 04:34:46 -0400

, also showed that most major countries recorded increases in assets, and that the size of these assets has more than doubled over five years. ';The world’s largest pension funds continue to benefit from a high profile as global demographic challenges remain front of mind,'; commented Carl Hess, global head of investment consulting at Watson Wyatt. ';As a result ...

Zurich Ireland outperforms market despite slump in new Life Insurance business

Sat, 25 May 2013 04:34:44 -0400

The Irish branch of Zurich (Eagle Star Life) has revealed that for the six months ending June 2008 it has outperformed the market, with Pensions Annual Premium new business of €47.4 million. The same period in 2007 saw figures of €42.8 million, 11 per cent less than the current situation. This outperformed the market average of zero per cent for regular premium business. ...

First global sound practices guide for FOHFs

Sat, 25 May 2013 04:34:33 -0400

The world’s first global guide to sound practices for fund of hedge funds (FOHFs) managers is to be published by the Alternative Investment Management Association (AIMA) in early 2009. The guide is being developed by fund of funds practitioners, and will focus on areas including risk management, disclosure to investors, valuation, management of conflicts of interest and other ...

SEI wins first industry-wide mandate

Sat, 25 May 2013 04:34:24 -0400

SEI has been selected as Fiduciary Manager by Dutch furniture industry pension fund Bpf Meubel in the company’s first industry-wide scheme appointment. The mandate win will see SEI managing €1.3bn of the total pension fund – which stands at €1.5bn – across a range of asset classes. SEI will manage the entire equity portfolio, the fixed income portfolio ...

FI says pensions companies have a buffer for further turbulence

Sat, 25 May 2013 04:34:18 -0400

Pension and non-life insurance companies can withstand further fluctuations on the financial market, and thereby have a good capacity to fulfil their commitments to customers, according to Swedish Financial Supervisory Authority, Finansinspektionen (FI). Their traffic-light model for Q1 2008 shows that no company has received a red light, with the exception of the pension fund Prometheus. ...

Fidelity International Real Estate Business expands into Germany

Sat, 25 May 2013 04:34:13 -0400

Fidelity International’s Real Estate Business is planning to expand into the Continental European market with the opening of a dedicated Fidelity Real Estate Business office in Munich. The new office, which is currently going through its regulatory notifications, will provide a strategic base for Fidelity’s director of European Real Estate, Keith Sutton. From here he will ...

Swedish companies avoid the red

Sat, 25 May 2013 04:34:06 -0400

Swedish pension companies were given favourable evaluations by The Swedish Financial Supervisory Authority, Finansinspektionen (FI), in the Q2 2007 traffic light report. No insurance companies received a red light during that period, while pension companies as a whole – including life insurance companies and occupational pension funds – showed a larger margin to the red light ...