British girl, who was teaching poor children in the region as par

Shimla, June 20: Many foreign tourists in Himchal Pradesh, which lures hordes of backpackers every summer, say they are scared and worried about their safety following the alleged gang rape of a British teenager in the popular tourist destination of Palampur in Kangra district.
The 18-year-old British girl, who was teaching poor children in the region as part of an exchange programme, alleged that she was repeatedly raped by two men Thursday night. They were arrested on Friday.
"We are now too scared (after the rape incident) to venture out alone or to frequent the once lively restaurants and bars after dark," David Jones, a tourist from Switzerland, told a news service. He and his wife are on a holiday in this tourist town.
"Crime is everywhere in the world, but its rate is quite high in India, especially at those places which are frequented by the foreigners," Jones added.
Bob Hopson, a 23-year-old sociology student from Ireland, who arrived here a week ago with his mother, said the rape incident is really shocking.
"Everyone's really shocked... it's been pretty bad. You just stay indoors after dark and try to avoid mixing up with the strangers and street vendors," he said.
Similarly, there is an unfamiliar chill in the air in Dharamsala, which has become a new-age Shangri-la for backpackers.
It has been attracting a steady stream of Tibet enthusiasts, scholars, volunteers and Hollywood stars such as devout Buddhist Richard Gere, Goldie Hawn and Pierce Brosnan since Tibetan spiritual leader the Dalai Lama settled here in 1959.
This town is close to Palampur where the British volunteer was raped.
"This place is so peaceful. Look, all the monks in maroon robes are wandering around, chanting spiritual notes. But now that's all been shattered," said Nancy Hilton, a US tourist who is here to meet the monks.

For further details visit as : www.zeenews.com/news540797.html

USK, Ms Coley was nominated for the prestigious industry award

A “TRAILBLAZING” Gwent-born businesswoman earned national recognition for her achievements at glitzy London ceremony.

Gaynor Coley, 50, managing director and deputy CEO of the Eden Project, scooped first prize in the tourism and leisure section of the First Women’s Awards last week at a gala dinner.
Born in Usk, Ms Coley was nominated for the prestigious industry award for her efforts in championing innovative policies at the popular attraction.
Ms Coley was head girl at Croesyceiliog School, before heading to University College London to study economics and then working as an accountant in the city.
She moved to Devon in 1997 to work as corporate finance director at the University of Plymouth and during that time she was approached to help with the Eden Project.
As finance director, her job was to make it financially and commercially secure.
In 2001, Ms Coley’s finance team was recognised as the Accountancy Age team of the year and later that year she became managing director.
Ms Coley, who now lives in Wadebridge, Cornwall, was nominated for the First Women’s Award by a former trustee, who told her she was “the best kept secret in the project.”
Convinced she had “flunked” her awards interview, Ms Coley said she was shocked when she realised she had won.


For further details visit as : www.southwalesargus.co.uk/news/4448857.Usk_businesswoman_scoops_top_award/

The FSA's site,information and tools consumers learn about financial products

An information site run by the personal finance industry regulator, the Financial Services Authority (FSA), is promoting a sub-prime loan comparison site that quotes interest rates of more than 1,300% APR.

The FSA's site, Moneymadeclear, was set up to provide easy-to-understand and independent information and tools to help consumers learn about financial products.
While the site offers purpose-built tools to help people compare mortgages and savings accounts, the only link for comparison sites on its cards and loans page is to LendersCompared.org.uk, which is paid for by the largest home credit companies in the UK.
Home credit firms usually lend small amounts of up to £1,000 which are repaid within a few months, with payments collected from the borrower's doorstep. Loans are typically targeted at borrowers with low incomes and poor credit records who would represent too high a risk for mainstream lenders. As a result interest rates are high.
The cheapest rate Guardian Money could find quoted on the LendersCompared site was in excess of 120% APR, while the most expensive – a £100 home collected loan from CLC Finance repaid in 15 instalments of £10 a week – has an APR of 1,303.2% APR.
Home lenders argue they are justified in charging high rates of interest to compensate for the extra risk of borrowers defaulting on payments, and some borrowers may have no choice but to borrow from them. But those who can shop around can find much better rates elsewhere.
We compared the cost of a £1,000 loan on LendersCompared and on moneysupermarket.com (stating we were tenants in a furnished property living in Balham). The cheapest loan that LendersCompared could produce was from Chase Finance, which cost £1,500 to repay over one year, or 122% APR. In contrast moneysupermarket.com's cheapest quote was from Sainsbury's Bank, which cost £1,077 to repay, or 14.9% APR.
Richard Murphy, adviser to the Tax Justice Network and the TUC on taxation and economic issues, said he was appalled the FSA had included a link for a home credit loan comparison site on its own website: "They should be directing people towards other sources of loans, such as credit unions, which are much cheaper."



For further details visit as : www.guardian.co.uk/money/2009/jun/19/fsa-website-sub-prime-loan

Finance minister Pranab mukherjee confers with cabinet collagues on budget

New Delhi, June 19 - ANI: Union Food Processing Minister Subodh Kant Sahay and Minister for Information and Broadcasting Ambika Soni met Finance Minister Pranab Mukherjee ahead of the general budget, which is to be presented on July 6.

As part of the pre-budget exercise, Mukherjee held parleys with various stakeholders, state finance ministers, industrialist groups, leading economists, trade unionists and top officials of various financial institutions.
"We have requested that this sector is a perishable sector, rural activities based sector, so tax holiday is required for the sector for 8 to 10 years, so that private investments come in," said Sahay.
"I requested the Finance Minister to provide parity and rationalisation in the service tax paid by broadcasters on revenues accrued by them from advertisements. There should be a parity in print and broadcasting media," Ambika Soni said.
The Union Cabinet on Monday decided to hold the Budget session from July 2 to 7 while the General Budget will be presented on July 6.
It was also decided that the Economy Survey would be presented on July 2.
Prime Minister Dr. Manmohan Singh presented an interim budget for the 2009/10 (April/March) in February ahead of the general elections in April and May.
In its five budgets since 2004, the Congress party-led coalition has raised spending on health, education and rural employment. - ANI


Source : www.littleabout.com/news/19083,pranab-mukherjee-confers-cabinet-colleagues-budget.html

IRB shares Developers climbed nearly 5 percent

MUMBAI: Shares of IRB Infrastructure Developers climbed nearly 5 per cent after the company announced that it emerged the lowest bidder for a
highway project in Punjab.
The project is on grant basis with concession period of 20 years and estimated cost of the Project is Rs 1200 crore, the company said in a statement to the exchanges.
The company has sought a grant of Rs 126.90 crore for the project, which is on build-operate-transfer basis, from the National Highways Authority of India.
At 1:20 pm, the company’s shares were trading at Rs 134.50, up 2.63 per cent after surging to a high of Rs 142.85.


For further details visit as : economictimes.indiatimes.com/stocks-in-news-home/IRB-Infrastructure-shares-up-by-5/articleshow/4675790.cms

New plans to rewire for the digital age plans

They are plans that could have a big impact on those living amongst the green hills of Mill End Farm, set in an idyllic corner of English countryside.

Farmer Anita Tackley and her family manage a thriving small business with 500 milking cows and a bed and breakfast in their 17th-century home.
But in this seemingly timeless landscape, they have got a very modern headache - no broadband internet.
The farm is in a 'not spot' - one of thousands across Britain that are too far from the nearest telephone exchange to get broadband access.
"Everybody else seems to be able to get a broadband connection so I don't see why we shouldn't be able to have one too," complained Anita.
She cannot get access to the up-to-the-minute weather forecasts she needs on the farm, and her daughters struggle to complete their school homework without a good internet connection.
In the nearby village of Hambleden, locals say they are being left behind by the information age - despite being just 40 miles from London.
"I just find it incredible that you can get an 8MB broadband connection in the middle of the Sahara Desert and yet here we are in a very affluent part of the country with no internet access at all other than dial-up," said resident Matt Murton, who works in the IT industry.
The village is not alone in sitting on the wrong side of the digital divide.
Some 40% of British households still do not have broadband, and average connection speeds lag well behind France, Germany, the US and Japan.
The Government's Digital Report - put together by Communications Minister Lord Carter - promises to solve Hambleden's problems.


For further details visit as : news.sky.com/skynews/Home/UK-News/Digital-Britain-Plans-To-Rewire-Britain-Revealed-Broadband-Access-For-Rural-Areas/Article/200906315307504?lpos=UK_News_Second_Technology_Article_Teaser_Region__1&lid=ARTICLE_15307504_Digital_Britain%3A_Plans_To_Rewire_Britain_Revealed%3B_Broadband_Access_For_Rural_Areas

Angelina Jolie is determined to raise“an education of the world”

Angelina Jolie is determined to raise her children with “an education of the world”.

The Oscar-winning beauty – who has three adopted kids, Maddox, seven, Pax, five, and four-year-old Zahara, as well as three biological children, Shiloh, three, and 11-month-old twins Knox and Vivienne, with partner Brad Pitt – wants to ensure they are all aware of the problems across the globe and will make sure they visit Third World countries.
Angelina, who is a UN ambassador, said: “Some of my kids are from countries that have seen conflict. I usually just explain to them that there are other families in the world that aren’t as fortunate as ours and other kids and their mommies… are somewhere in a country that’s not as safe. So I tell them that it’s important for all of us to do what we can and then go to these places and understand what’s happening.
“They’re just being raised that this is the normal thing to do. I want them to have an education of the world. Hopefully it will make them better people as they get older.”
Angelina – who adopted Maddox from Cambodia, Pax from Vietnam and Zahara from Ethiopia - also revealed she is enjoying every moment of motherhood and loves celebrating so many birthdays.
She said in an interview on US TV’: “We have so many kids that we just have year-round birthdays. It’s just fun, you know? It’s a lot of fun now because the older kids are old enough to help plan the birthdays for the younger kids. So it’s one of the great pleasures of life, the birthday.



Source : breakingnews.iol.ie/entertainment/angie-determined-to-raise-worldwise-kids-415485.html

MSCI Emerging Markets Index may climb to 985 by June 2010

June 19 (Bloomberg) -- Emerging-market stocks may rise a further 32 percent in the next year as earnings decline less and recover faster than predicted, Morgan Stanley said.

The MSCI Emerging Markets Index may climb to 985 by June 2010, 21 percent higher than the brokerage’s earlier prediction, strategists led by Jonathan Garner wrote in a report dated June 18. Still, the brokerage reduced its equity allocation in its recommended investment portfolio, saying the global economic recovery may face a “setback” in the short term.
“Our revised base case earnings forecast trajectory is for a slightly shallower and shorter earnings recession than our previous forecast,” Garner wrote. “We are tactically cautious here because we expect a lop-sided ‘W’ shape to the global economic recovery.”
The MSCI index for developing-market shares climbed 0.3 percent to 745.74 at 3:33 p.m. in Singapore, halting a five-day, 6 percent slump. The measure has rallied 32 percent this year, outpacing a 4.2 percent gain in the MSCI World Index.
Morgan Stanley reduced its equity allocation in its recommended investment portfolio to 54 percent of assets from 56 percent and advised investors to place 5 percent of funds in cash, higher than an earlier recommendation of 3 percent.
The emerging-market index could face a “correction” of between 17 percent and 33 percent from its recent peak over the next three months, Morgan Stanley said, citing its “technical, funds flow, factor model, and seasonal indicators.”


For further details visit as : www.bloomberg.com/apps/news?pid=20601091&sid=azC1JOQuPkjU

FIA financial arms race

Ferrari, McLaren, Brawn GP, Renault, Toyota, BMW Sauber, Red Bull Racing and Toro Rosso have all declined to enter F1 for 2010.

The rebels, which form the Formula One Teams' Association (FOTA), failed to reach a compromise with FIA president Max Mosley over plans for a £40m budget cap and pointed accusing fingers at him and F1 supremo Bernie Ecclestone
The sport's governing body has now hit back, saying: "We are disappointed but not surprised by FOTA's inability to reach a compromise in the best interests of the sport.
"It is clear that elements within FOTA have sought this outcome throughout the prolonged period of negotiation and have not engaged in the discussions in good faith.
"The FIA cannot permit a financial arms race in the championship nor can the FIA allow FOTA to dictate the rules of Formula One."
Motor sport's governing body had issued a deadline of Friday for teams to enter next year's championship unconditionally.
The 2010 competition now consists of Williams and Force India, along with the three new outfits - USF1, Campos and Manor.


Source : www.reuters.com/article/rbssHomebuilding/idUSLJ16370720090619

British housebuilder Taylor Wimpey

LONDON, June 19 (Reuters) - British housebuilder Taylor Wimpey (TW.L) said it had seen enduring stability in the housing market in the past six weeks, and it might increase the number of new sites in the second half, lifting shares in the sector.

"We have been encouraged by the ongoing stability in the UK housing market, but remain cautious with regard to the prospects of the wider economy and, in particular, the potential impact of rising unemployment," Taylor Wimpey said on Friday.
Its shares, which had fallen over 20 percent in the past fortnight and have underperformed the stock market .FTAS by 11 percent over the past year, were up 7.3 percent at 33.25 pence at 0740 GMT. Other housebuilders' shares .FTASX3720 also rose.
KBC Peel Hunt analyst Robin Hardy said Taylor Wimpey stock could bounce after a sharp recent correction, but it "cannot shake off the wider issues of unemployment and a poor lending environment. The pricing environment is not going to improve any time soon, and this is the worst scenario for new build".
The number of Britons claiming jobless benefit rose less than expected in May but still enough to push the unemployment rate to its highest in more than a decade. [ID:nLH826126]
Recession and rising unemployment have led to house prices falling about a fifth from their peaks in the autumn of 2007.
But prices in May rose 2.6 percent, the biggest monthly gain in 6-1/2 years, according to the Halifax, Britain's biggest home loan lender, while the Nationwide Building Society reported a 1.2 percent rise for the month. [ID:nL4210746] [ID:nLAG003459]
Taylor Wimpey said its current order book was 971 million pounds ($1.59 billion), up 73 percent from its end-2008 level.
"Our net private reservation rate remains at around 0.6 per site per week, with prices broadly flat and cancellation rates below the long-run average," Taylor Wimpey said, adding: "The severe downside scenarios for which we have been planning now appear less likely to materialise".


For further details visit as : www.reuters.com/article/rbssHomebuilding/idUSLJ16370720090619

South Africa were eliminated from the World Twenty20

Eleven supremely fit and ruthlessly efficient cricketers, on top of their game, had their dreams of a first-ever world title ended by one audacious man. That cricket is a team game is an oft repeated cliché but South Africa were eliminated from the World Twenty20 at Trent Bridge solely because of Shahid Afridi's intensity and all-round skill.

Pakistan were yet to win a game against significant opposition in the tournament because of a team performance. They lost to England and Sri Lanka, beat minnows Netherlands and Ireland, and relied on Umar Gul to rout New Zealand. Their players hadn't contributed collectively and so it was unlikely all 11 players would maximise potential against opponents as able as South Africa. To have a hope of playing at Lord's on Sunday, Pakistan needed individual brilliance from one of their matchwinners: probably Gul, possibly Younis Khan, or perhaps Misbah-ul-Haq.
Instead, it came from Afridi. Pakistan and Afridi supporters always hope that it will come from him. They roar him to the crease, brimming with optimism, hoping he will destroy the opposition with his recklessly cavalier approach. Thousands of fans celebrated his arrival at the crease at Trent Bridge after Pakistan had lost Shahzaib Hasan in the second over.
Did they know that Afridi's last half-century, in any format of the game, came 28 innings ago, against Zimbabwe at Multan in 2008? And the one before that was 19 innings earlier, against Sri Lanka in Abu Dhabi in 2007? It didn't matter, for when it comes to Afridi, there's always reason to hope. He'll disappoint more often than not, but his successes are so spectacular that it's worth the heartbreaks.


For further details visit as : www.cricinfo.com/wt202009/content/current/story/409732.html

Chinese developers of a controversial software to filter pornography

Chinese developers of a controversial software to filter pornography may face legal action from the U.S. makers of a similar Internet filter.

Solid Oak said it had “very solid evidence” to support copyright infringement against developers Jinhui Computer System Engineering Co and Dazheng Human Language Technology Co.
The California-based software maker has sent “cease and desist” letters to Hewlett-Packard and Dell to stop distributing computers containing the alleged copied software and said it was considering seeking an injunction in a U.S. court.
“We are weighing our legal options against the two program developers in China. We should know more in the coming 24-48 hours,” said Jenna DiPasquale, the head of Solid Oak PR and marketing.
The development puts a question mark over the future of the Green Dam-Youth Escort software, for which the government paid 41.7million yuan (US$6 million) and must be included in all computers sold on the mainland from July 1.
DiPasquale said programming codes within Solid Oak's CyberSitter had been found in the Green Dam software, which the government said is designed to protect youngsters from pornography and violence.
“We have sent HP and Dell, with which we have had business relationships, cease and desist letters,” said DiPasquale.
“We objected to the distribution of any software based on proprietary CyberSitter data, techniques, or methods that were illegally obtained or reverse engineered without proper licensing, or any Green Dam product that contains illegally obtained intellectual property.
“We have also asked them to provide an accounting for any units that may have already been shipped.”
Zhang Chenmin, general manager of the Zhengzhou-based Jinhui, could not be reached for comment Wednesday but he told China Daily earlier that the two filters' databases of blacklisted URL addresses might share similarities.


For further details visit as : www.chinapost.com.tw/business/asia/b-china/2009/06/19/212894/Green-Dam.htm

Save School Public Education

The recent push for school vouchers in Georgia reminds me of the attempt by wealthy special interest groups to influence the Georgia Supreme Court race two years ago.

In this race, a highly respected judge, Carol Hunstein, was challenged with well-funded attack ads, $1.3 million of which were paid for by a group from Washington called the American Justice Partnership. However, voters proved not to be as gullible as the partnership thought they were and re-elected Hunstein.
Those who believe in public education are also likely to prove this new group of influence peddlers, the Michigan-based All Children Matter, wrong about school vouchers.
The question is why, after two centuries of unprecedented American economic success and world influence —- both indicators of a well-educated citizenry —- have we even considered abandoning public education in favor of state-supported private education?
How have we created a culture where school vouchers appear to be a viable alternative? First, conservative think tanks create a national program (No Child Left Behind) using the readily acceptable "higher standards" as justification. Then the government underfunds the program to achieve the desired mediocrity.
Next, a proving-ground state such as Georgia further underfunds its school systems. This creates a total disconnect between the State Department of Education, the Legislature and the classroom. Parents become outraged. Finally, the think tanks parade out phrases such as "school choice" and "competition between schools" and promise voucher programs will come to the rescue of the failing schools the government helped create. The result: throwing vast amounts of tax dollars at the new corporate schools that will pop up all over to teach a select few of our children. The students without vouchers? Well, let them eat cake.
The very best way for Georgia to achieve the educational promise and success that its children deserve is to fully support, with smart direction from the state, our public school system and not abandon it with "they can do better" ideology of vouchers. Traditionally, our schools have been at the center of strong community life. To throw that relationship away would be tragic.
So, how do we strengthen our schools? To paraphrase the venerable Ronald Reagan: "Republicans are not the ones we can seek to find solutions to the problem. They are the problem." I would add that some Democrats don't understand it either.


For further details visit as : www.ajc.com/services/content/printedition/2008/08/04/vouched.html

AT&T started selling U-verse to about 200 families in metro Atlanta

AT&T started selling U-verse to about 200 families in metro Atlanta in December as part of a test. Atlanta also is the starting point of AT&T's expanded rollout of U-verse throughout the Southeast.

Nationwide, more than 9 million homes in 43 markets have access to U-verse, but only about 379,000 have signed up, executives said during AT&T's first-quarter earnings conference call last week.
The company wants to have 1 million customers by the end of 2008.
Getting customers to buy U-verse hasn't been an issue, said Rhett Hutchison, AT&T's U-verse sales director. "It's making them aware of it."
Speece said the timid campaign could be ramped up later.
"From a brand standpoint —-if they launch this thing, and it fails, the brand is effectively dead," Speece said. "So my guess is, AT&T is wisely keeping the brand behind the curtain until they get it ready for prime time, then we're going to see the billboards, the [Web site] pop-ups."
What's more, one TV ad has caused AT&T some trouble. The company ran a spot in Chicago that featured a comic impersonation of Harry Caray, the legendary baseball announcer. Caray's widow, Dutchie, blasted the company in a TV interview.
"Some people loved it, and some people didn't love it," said Roger Entner, senior vice president for the communications sector of IAG Research. "But it shows that they spent a lot of effort into the advertising into the local community where they launched U-verse."
U-verse is delivered to homes through digital lines that are similar to high-speed Internet lines. Customers can receive 42 channels in high-definition and the ability to record and store 120 hours of TV programs.
Other features include games and an on-screen phone directory.
The service costs between $44 to $154 a month, depending on the package.
Installation takes about five hours. This is after AT&T technicians install equipment boxes around the neighborhood and make sure the homes are wired to receive streaming video.


For further details visit as : www.ajc.com/services/content/printedition/2008/04/29/att.html

How to Plan the commercial Real estate fallout

Commercial Real Estate Loans Mature - Bigger Problems Arise

The problem is about to get very, very big: Between now and 2011, as much as $814 billion in commercial real estate loans will mature - and need to be refinanced. The problem is that the credit markets are still too tight for most commercial projects.
Most banks have tightened their lending standards, reduced the amount they are willing to lend and significantly reduced the value of the collateral (malls). This leaves many owners with little choice but to turn to the Fed.
Back in May - and with much fanfare - the Federal government announced it would soon be expanding its Term Asset-Backed Securities Loan Facility (TALF). It now plans to include existing securities backed by loans for apartment buildings, office complexes, shopping centers and other commercial property.
But these programs aren’t an industry panacea. If you read the fine print, they provide backing only if the securities are rated AAA by major rating agencies. This excludes just about all the needy real estate - and the REITs that own it - from participating in the program.
How to Play the Commercial Real Estate Fallout
So, how do we play the commercial real estate fallout? The bottom-line is this: Many shopping malls in this country are simply going to disappear. Supply and demand will ultimately determine how many. All this bodes well for really big operators like Kimco Realty (NYSE: KIM) and Simon Property Group (NYSE: SPG), long-term plays that are large enough to weather the lengthy storm.
But for short-term investors looking to pick up some companies on the bottom, beware of going long just yet: While the market has already baked in a lot of bad news, uncertainties surrounding any additional big chain bankruptcies persist.
That means many REITs still have further to fall.
If you’re looking for an investment option that plays this angle, a dropping real estate market bodes well for ProShares UltraShort Real Estate (NYSE: SRS). It seeks investment results equal to twice the inverse of the daily performance of the Dow Jones U.S. Real Estate Index.
In the coming weeks, I’ll take a look at the office and industrial property side of commercial real estate that, unfortunately, isn’t much better off than the malls.


For further details visit as : seekingalpha.com/article/143928-how-to-profit-from-the-commercial-real-estate-fallout

Goat Cheese & Gluten-free menu

Goat cheese
This year’s market organizers were delighted to find a new goat cheese vendor to meet the demands for more cheese.
Peter and Elizabeth Mulholland of Valley View Farm in Topsfield will sell their handcrafted chevre, a soft, fresh goat’s milk cheese that can be bought plain (for you “vanilla” folks) or coated with pepper, herbs, or blends of oven-roasted garlic, chipotle pepper, toasted pecans, or sun-dried tomato and basil.
Other soft-ripened goat cheeses available from the Mulhollands will be New Meadows, a camembert-style cheese, and Highlander, named in memory of their honeymoon tour of cheese dairies in the Scottish Highlands.
Valley View Farm, the only dairy in Topsfield and the only cheese producer in Essex County, is a family enterprise where “kids, human and goat, run through the kitchen, yard and barn.”
Gluten-free menu
If it’s an afternoon snack you’re looking for, stop by Glutenus Minimus.
Not to be confused with a not-so-well-muscled posterior, you’ll find a delicious variety of gluten-free products, including cookies, muffins, cupcakes, and pizza.
Owner Natalie McEachern was diagnosed with celiac disease in college, and started Glutenus Minimus with the help of her mom, a “dedicated Italian mother.” While the quality and quantity of gluten-free foods at the supermarkets has improved of late, says McEachern, she has yet to find a gluten-free cookie that compares to her mom’s.
The Market is located at the intersection of Massachusetts Avenue, Fletcher Avenue and Woburn Street, and will be open every Tuesday, rain or shine, from June 9 through Oct. 27. For more information, visit www.lexingtonfarmersmarket.org, where you can also subscribe to the Market Update, the LFM’s weekly electronic newsletter. Not all vendors come weekly. Consult the Web site, or visit the Market Manager’s Tent for information on the vendors, artisans, and entertainers at the market that day.



For further details visit as : www.wickedlocal.com/lexington/news/lifestyle/columnists/x1686363056/LFM-New-nibbles-at-the-Lexington-Farmers-Market

Australian share market close lower on thurday

The Australian share market closed lower on Thursday amid weaker commodity prices and resource stocks and high volumes as index futures expired.

At 1615 AEST the benchmark S&P/ASX200 index was down 12 points, or 0.31 per cent, at 3,892.1 points, while the broader All Ordinaries index gave up 16.8 points, or 0.43 per cent, to 3,887.4 points.
On the Sydney Futures Exchange, the June share price index contract, which rolled over at noon, was 25 points higher at 3,922 on a volume of 10,403 contracts.
The September share price index contract had lost 14 points to 3,856 on a volume of 28,651 contracts.
Shaw Stockbroking senior dealer Jamie Spiteri said volumes were excessively high and driven by the expiry of the June share price index contract.
"A lot of the volumes are inflated by the heavy trading related to index futures expiry today."
Trading in Rio Tinto ex-dividend and other resources stocks was weighed heavily on the market.
"The big mark down in the Rio share price today - going ex dividend yesterday they were relatively resilient but not so here today," Mr Spiteri said.
Rio dropped $5.16, or 8.95 per cent, to $52.52 and was the second highest traded stock by volume, with 9.4 million shares changing hands for $501 million.
Rio's fall combined with weaker commodity prices in offshore markets overnight dragged the rest of the resources sector down.
BHP Billiton was down 96 cents at $34.70.
"Other major mining groups were noticeably weaker across Europe and North America last night," Mr Spiteri said.
Santos was the resource sectors bright spot, firming 51 cents, or 3.59 per cent, to $14.70 after signing the first supply agreement for its proposed Gladstone liquefied natural gas (GLNG) project with Malaysia's Petronas.


For further details visit as : news.smh.com.au/breaking-news-business/resource-stocks-pull-market-down-20090618-cibm.html

Trident gum and Halls cough drops said growth had improved after a slow start to 2009

LONDON, June 18 (Reuters) - British confectionery group Cadbury (CBRY.L) reported a pickup in April and May trading on Thursday and looked forward to a stronger second-half helped by new product launches for its chocolate, gum and candy.

The maker of Dairy Milk chocolate, Trident gum and Halls cough drops said growth had improved after a slow start to 2009, but this was due to the absence of de-stocking and market share gains rather than any signs of a global economic recovery.
Although mainland Europe was still a trouble spot due to weak markets in France and Spain, the group held its overall sales and margin forecast for 2009, with the slower start to the year set to be balanced by a stronger second-half.
"Trading in April and May improved due to the absence of de-stocking in the United States and some improved business performances," said Chief Executive Todd Stitzer on a conference call after a first-half trading update.
Cadbury shares edged up 0.7 percent to 525-1/2 pence by 0825 GMT in a slightly lower UK stock market.
Analysts expect sales at the world's second-largest confectionery group, after Mars-Wrigley, to rise around 3 percent in the first-half, accelerating to 5 percent in the second to give a 2009 rise close to company forecasts of around 4 percent.
"The shape of the April/May development is in line with our expectations," said Citi analyst Jeff Stent, adding the only surprise was that first-half margins will be higher than expected due to the new product launches in the second half.
The London-based group said growth in chocolate had remained robust since the start of 2009 while gum and candy returned to growth after a poor first-quarter. It gave no specific figures.
Its British business gained market share after a good Easter Egg season and the success of its relaunched Wispa bar, helping to offset difficult trading in Ireland, France and Spain.


For further details visit as : www.reuters.com/article/rbssFoodProcessing/idUSLH85838320090618

NASA Prepared to Launch its Debut mission in a Program

CAPE CANAVERAL, Florida (Reuters) - As NASA prepared to launch its debut mission in a program aimed at returning astronauts to the moon, a presidential panel on Wednesday began looking at alternative ways to get there and whether the United States should even go.

The Lunar Reconnaissance Orbiter, scheduled to launch from Cape Canaveral Air Force Station at 5:12 p.m. on Thursday, is designed to map the lunar surface so NASA can find safe and scientifically interesting landing spots for future human missions.
The United States is shifting the focus of its human space program from research and technology development in low-Earth orbit with the space shuttle and International Space Station to an exploration initiative. That would culminate in the return of U.S. astronauts to the moon in 2020 -- a half-century after the pioneering Apollo lunar landings of 1969 to 1972.
NASA plans to retire the shuttle fleet in 2010 after eight more missions to complete space station construction. It would then shift funding to ramp up development of a pair of expendable rockets, known as Ares, and a beefed-up Apollo-style capsule called Orion that can ferry crews to the moon and other destinations.
Orion's debut flight to the space station is targeted for 2015 -- five years after the shuttle stops flying.
With costs estimated at more than $100 billion for a lunar excursion and concerns about the five-year gap, President Barack Obama has ordered a top-level review of the U.S. human space program.
Hearings in Washington opened on Wednesday with commercial companies, NASA and other space advocates laying out options for flying astronauts to the space station and getting to the moon.
Panel members will also consider whether the moon should even be a destination. The panel, headed by retired Lockheed Martin Chief Executive Norm Augustine, is expected to issue a report in August.


For further details visit as : www.reuters.com/article/scienceNews/idUSTRE55G6VK20090617

MSCI Asia Pacific Index to a three-week low

June 18 (Bloomberg) -- Asian stocks declined, dragging the MSCI Asia Pacific Index to a three-week low, as concerns about the strength of the U.S. economy dented prospects for export earnings.

Honda Motor Co., which gets more than half its sales in North America, dropped 2.6 percent as the dollar traded near a two-week low against the yen. Mitsubishi UFJ Financial Group Inc. sank 2 percent, pacing declines among banks, after Standard & Poor’s cut credit ratings on 18 U.S. lenders. Rio Tinto Group, the world’s third-largest mining company, slumped 9 percent as it began a $15.2 billion share sale.
The MSCI Asia Pacific Index lost 1.3 percent to 100.77 as of 5:52 p.m. in Tokyo, set to close at its lowest since May 28. A 43 percent rally from a five-year low on March 9 has taken valuations of the gauge’s stocks to the highest since September.
“Investors are using the weaker dollar as an excuse to take profit as valuations look stretched following the recent rally,” said Michiya Tomita, who helps manage $51 billion at Mitsubishi UFS Asset Management Co. in Hong Kong. “Any correction will be short-lived as long-term fund managers are still sitting on the sidelines with their cash.”
Japan’s Nikkei 225 Stock Average fell 1.4 percent to 9,703.72 paced by Sekisui House Ltd. after the homebuilder was downgraded at Credit Suisse Group AG. Hong Kong’s Hang Seng Index sank 1.7 percent.
The Shanghai Composite Index gained 1.6 percent, led by China Shenhua Energy Co., which climbed 5.5 percent as the World Bank raised its growth forecast for the country’s economy.


For further details visit as : www.bloomberg.com/apps/news?pid=20601080&sid=acBMpMzRiHLU

Tourism economic empowerment

ECONOMIC EMPOWERMENT.
There is no question that United States is the economic giant of the world .Yet what most people do not know is that the US is also the biggest and most diverse market place in the world. You will meet all kinds of business executives from every country in the world, coming to the United States, looking for business partners and opportunities. The United States government sets the policy and main frame work for economic empowerment. Nevertheless, it is the US private sector where Ghanaians will benefit most on a sustainable basis, if we create the right milieu in our motherland. The US private sector creates jobs which are the most effective means of reducing poverty. Even the small and Medium US enterprises are huge by Ghana standards. It therefore behooves on us to incubate the critical mass of credible business executives with international standards to effectively complement our US counterparts.
The standards for the Ghanaian business executive are should be: integrity of business personnel, verifiable bank and tax records, traceable goods packaged by international standards, maintain sanitary and phytosanitary standards, SPS, excellent business plan, marketing packages among others. The US EXIM Bank will help with financing if you use US goods; the Overseas Private Investment Corporation [OPIC] will assist with finance if you have US partners.
The areas that are very lucrative include: HOME DÉCOR [what we call arts and crafts in Ghana] , Commercial real estate, Energy, Agro processing notably organic products, Information Communication Technology {ICT}, Extractive industry and services especially Finance. You should also plan to visit some of the numerous US Trade shows continuously with your full package. The initial trips may not pay off but tenacity is key, as you will be rewarded eventually. I advise you to be interactive and assertive. Ghanaians think the later is arrogance but the Americans appreciate assertiveness. Please make eye contact and always dress professionally.
It is my hope that the business community takes this cue as the sky is the limit.


For further details visit as : www.ghanaweb.com/GhanaHomePage/NewsArchive/artikel.php?ID=163871

U.S. Open championship at bethpage black in farmingdale

Growing up in New Bedford, Kevin Silva played a lot of golf on rainy days.

The weather forecast for today's first round in the U.S. Open Championship at Bethpage Black in Farmingdale, N.Y., is calling for upwards of an inch of rain, but Silva isn't going to let anything dampen his mood or mess with his goal of making the cut and playing on the weekend.
"I don't mind playing in wet conditions," Silva said. "It will make the rough here even harder to play out of, but I'm hitting the ball well and I've been doing a good job staying out of trouble."
Silva played a nine-hole practice round in the sunshine on Wednesday and said he's ready for the challenges that playing in golf's most-demanding tournament present.
"It was the best day this week and I had a lot of fun playing with a good friend of mine named Mike Welch," Silva said. "The golf course hasn't been playing firm or fast and if it rains like they say it's going to, it's only going to get softer and slower."
Welch, who hails from North Quincy, and Silva are former roommates who earned their way into the tournament at a grueling 36-hole sectional qualifier in Purchase, N.Y., where Silva finished first for the second straight year.
Silva missed the cut in last year's Open at Torrey Pines Golf Course in San Diego after shooting rounds of 80 and 76, but he learned a valuable lesson along the way.
"I threw away a lot of shots around the greens," Silva said. "I've been working extra hard on my short game and it's paid off. I'm hitting my approach shots a lot closer to the hole and that's been helping my scoring."
Roger Brightman, who's been a big part of the local golf scene in the New Bedford area for a lot of years, caddied for Silva in 2007 when Silva made it to Stage 2 (the halfway point) at the PGA Tour's qualifying school.


For further details visit as : www.southcoasttoday.com/apps/pbcs.dll/article?AID=/20090618/SPORTS/906180357

Employee snooping on sensitive information continues unabated

HELSINKI (Reuters) - More than one-third of information technology professionals abuse administrative passwords to access confidential data such as colleagues' salary details or board-meeting minutes, according to a survey.

Data security company Cyber-Ark surveyed more than 400 senior IT professionals in the United States and Britain, and found that 35 percent admitted to snooping, while 74 percent said they could access information that was not relevant to their role.
In a similar survey 12 months ago, 33 percent of IT professionals admitted to snooping.
"Employee snooping on sensitive information continues unabated," Udi Mokady, CEO of Cyber-Ark, said in a statement.
Cyber-Ark said the most common areas respondents indicated they access are HR records, followed by customer databases, M&A plans, layoff lists and lastly, marketing information.
"While seemingly innocuous, (unmanaged privileged) accounts provide workers with the 'keys to the kingdom,' allowing them to access critically sensitive information," Mokady said.
When IT professionals were asked what kind of data they would take with them if fired, the survey found a jump compared with a year ago in the number of respondents who said they would take proprietary data and information that is critical to maintaining competitive advantage and corporate security.


Source : in.reuters.com/article/technologyNews/idINIndia-40205520090610

Spice Jet Ltd raised its fuel surcharge on tickets by 400 rupees

MUMBAI:(Reuters) - Low-cost carrier Spice Jet Ltd raised its fuel surcharge on tickets by 400 rupees following a rise in jet fuel prices, a senior official said.

"We have raised the fuel surcharge across all sectors by 400 rupees, effective immediately," Samyukta Sridharan, chief commercial officer, told Reuters on Thursday.
The move comes after Jet Airways and Kingfisher Airlines on Wednesday raised fares in domestic sectors by a similar amount as jet fuel prices were increased by more than 12 percent by state-run oil firms a day earlier.
Jet fuel prices account for nearly half of an airline's operating costs. The prices have risen 33 percent since March this year.
State-run Air India is also expected to take a decision on fare increases by evening, a spokesman for the airline said.
At 11:36 a.m., SpiceJet shares were up 5.26 percent at 21.00 rupees. Kingfisher Airlines was up 1.84 percent at 55.40 rupees, while Jet Airways was down 0.21 percent at 238.00 rupees in the Mumbai market.


Source : in.reuters.com/article/topNews/idINIndia-40417420090618

Australia’s parliament passed legislation

June 18 (Bloomberg) -- Australia’s parliament passed legislation to set up guarantees that may cover as much as A$39 billion ($31 billion) of state governments’ debts and set up a public register of government borrowings.

The bill passed in Canberra today after the lower house of parliament approved Liberal Senator Helen Coonan’s amendment to set up an on-line guide that the Australian Office of Financial Management will update each month.
Australian states’ borrowing costs have dropped since Treasurer Wayne Swan announced the federal guarantee on March 25 as tax revenue slumped amid a slowing global economy. The premium investors demand to hold Queensland debt rather than federal notes dropped to 0.62 percentage point today from 1.39 percentage points before Swan introduced the plan. The spread for New South Wales debt narrowed to 0.61 percentage point from 1.27 percentage points in the same period.
Queensland Treasury Corp. today said it sold A$3.25 billion of bonds due in 2019 today. The 6.25 percent notes were priced to yield 84 basis points more than similar-maturity government debt, according to a statement from Queensland Treasury Corp. Deutsche Bank AG, RBC Capital Markets and UBS AG managed the sale, according to the statement.
New South Wales forecast an A$1.34 billion deficit in the year ending June 30, while Queensland said its operating deficit would amount to A$1.95 billion. The states, the nation’s biggest local government borrowers, have indicated they will use the federal guarantee.
The planned borrowings of the four largest states -- New South Wales, Victoria, Queensland and Western Australia -- will amount to A$44 billion for 2009-2010, near the Federal government’s A$60-billion requirement, according to National Australia Bank Ltd.
State governments’ borrowing costs swelled in late 2008 after banks started selling bonds under an Australian government guarantee.


For further details visit as : www.bloomberg.com/apps/news?pid=20601081&sid=ar6g3Kn3i77c