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Sunday, November 28, 2010

Marks & Spencer Reliance Plans to Open 50 Indian Stores in Next Five Years

Marks & Spencer dependence Mexico SA., The joint venture between Marks & Spencer Group Plc and Reliance Industries Ltd., plans to open another 50 stores in India as rising wages and increased consumer demand is a priority market for retail . "The past year has been very successful for us and we are very happy with how things are going," said Martin Jones, executive director of the local unit, in an interview today in New Delhi. "We have a lot of investment in the country, not only in terms of stores, but now we supply many of our products in India as well." He declined to specify the company's investment in India. The company will increase its supply in South Asia 70 percent over the next three years from the current 42 percent. The expansion of five years, the total number of stores...

Ireland won the approval of 85 million euros emergency

Ireland won the approval of 85 million euros (113 billion) emergency-aid package, European finance ministers struggled to contain the fiscal crisis. Ireland will receive € 67500000000 European Union and the International Monetary Fund and provide € 17500000000 its pension reserves, Martti Salmi, a spokesman for the Finnish Ministry of Finance said Monday after finance ministers endorsed the plan in Brussels. With bond yields to 10 years an average of more than 7.5 per cent in Greece, Ireland, Portugal, Spain and Italy on 26 November, European leaders are struggling to prevent the spread of Ireland's fiscal problems threatening the survival of the euro than 12 years of age. "We have to discuss the wider ramifications of the current crisis and we must discuss a systemic response to this crisis,"...

Tax-Cut Negotiations Likely to Include Unemployment

Sen. Dick Durbin of Illinois, the No. 2 Senate Democrat, said talks on extending the Bush tax cuts-was also included the extension of emergency unemployment benefits and other tax credits. "I put a couple of other things on the table," Durbin said today on NBC's "Meet the Press." "We have an unemployment rate," he said, and "I also want to ensure the earned income tax credit, tax credit child care, and" Making Work Pay "tax credit are part" of the discussion. The problem is the tax cuts passed in 2001 and 2003 which are due to expire Dec. 31. Obama is scheduled to meet with Democratic congressional leaders and Republican November 30 at the...

U.S. State Department Planning said that launch WikiLeaks endanger lives

U.S. State Department warned WikiLeaks founder Julian Assange that the planned release of government documents endangers the life of the "countless people" and jeopardize cooperation with partner countries. Wikileaks has provided the New York Times, The Guardian and Der Spiegel daily with about 250,000 documents for publication, State Department Legal Adviser Harold Koh, he wrote in an e-mail yesterday Assange lawyer of Jennifer Robinson. The Pentagon said last week the U.S. Senate and House Armed Services Committees that the website WikiLeaks.org "intends to release several hundred thousand" classified U.S. State Department of cables. The publication of classified documents that "endanger the lives of countless innocent people" of journalists to the soldiers, threatening military operations...

Partners Fund Revenue Bonds to start next month as Yuan currency appreciates

Income Partners Asset Management (HK) Ltd., a manager of 17 years old from Hong Kong in Asia focused fixed income pools, plans to launch a yuan bond fund to meet investor demand for assets in currency appreciation. IP renminbi Credit Fund will raise money from wealthy individuals and institutions to buy yuan mainly in investment grade bonds sold in Hong Kong, said Emil Nguy, co-founder and managing partner in charge of credit liquid investment partners income. Is expected to begin operations on December 16, he added. Open-ended, long-only fund is "to provide foreign investors an option to play the yuan's appreciation with a yield of interest," said Nguy in an interview yesterday. China is allowing greater use of its currency in trade and global investment to reduce dependence on U.S. dollar...

France, Germany, EU Forge Plan-debt burden crisis to Share Investor

Germany and France have forged new rules for the euro crisis is intended to make investors share of the burden of any bailout plan after 2013, German government spokesman said Steffen Seibert. The proposal, presented at a meeting of European finance ministers in Brussels today, introduce "collective action clauses" for debt issued after a temporary crisis center expires in 2013, said a French official who briefed reporters in Paris. These clauses allow bondholders to change the terms of bond contracts. Bondholders will not automatically be required to take the losses, a position that contrasts with the recent call by German Chancellor, Angela Merkel, require investors to share costs with taxpayer bailout. The losses are determined on a case by case basis with the participation of the International...

Chinese bonds sold in Hong Kong are scarce

Chinese bonds sold in Hong Kong are scarce, such as banks and fund managers to help manage savings yuan record approaching potential issuers and ask them to offer more renminbi debt. Hong Kong pool yuan deposits more than doubled to 149 million yuan ($ 21 billion) in the six months to September, according to the monetary authority of the island. The amount compares with less than 41 billion yuan of bonds sum so called weak. The demand for debt is reducing borrowing costs for issuers of China at a time when the central bank is raising interest rates to fight inflation and bonds fall in most emerging nations. The performance of China's one-year Treasury bonds in the offshore market fell 26 basis points over the past three months to 1.48 percent, while bond yields jumped on the ground like...

Dubai shares fell to its lowest level in more than two months

Dubai shares fell to its lowest level in more than two months, leading a decline in the Middle East, as the emirate, said it plans to sell shares of big companies on concern a bailout Ireland does not contain the crisis in Europe. Emaar Properties PJSC, builder of the world's tallest skyscraper, closed at its lowest level in almost three months. Aramex PJSC, the UAE-based courier company, decreased 4.3 percent. The DFM General Index fell 1.4 percent to 1659.5, its lowest level since 16 September, at the closing ceremony at 2 pm in Dubai. Dubai plans to sell shares of some major companies in the emirate, Sheikh Ahmed Bin Saeed Al Maktoum, Chairman of the Dubai Chief Prosecutor, told a conference today. The emirate has accumulated 109.3 billion U.S. dollars of debt will become a tourism, trade...

BP Plc seeking to cover clean-up costs in the Gulf of Mexico

BP Plc, trying to cover cleanup costs in the Gulf of Mexico, agreed to sell its 60 percent interest in Pan American Energy in Argentina based oil and gas company Bridas Corp. Bridas pay 7.06 billion U.S. dollars in cash for the operation, making it the sole owner of PAE, BP said in a statement. The transaction is expected to be completed in 2011. BP is the objective of preserving capital and avoid risk after stroke in Macondo and the Gulf of Mexico left him facing a bill expected to reach $ 40 billion and forced the former chief executive, Tony Hayward, to resign. The oil company said in July it planned to sell $ 30 billion in assets at the end of 2011. Divestitures to date, including the sale of PAE, the total of about $ 21 billion. "Now we have agreements in place that should ensure the...

EU ministers meet to reach agreement on bailout Irish

European finance ministers are quick to conclude an international rescue package of Ireland before the opening of markets to halt the country's financial crisis spread to the rest of the euro region. The Irish government wants to reach an agreement to end the "uncertainty" that is worrying investors euro area, Energy Minister Eamon Ryan said the chain based in Dublin yesterday RTE. Finance ministers of the 16 euro countries will meet at 1 pm in Brussels before a meeting of the 27 EU ministers. The European Central Bank President Jean-Claude Trichet will also attend. The government of Prime Minister Brian Cowen is finalizing a bailout deal that may amount to 85 million euros (113 billion) after more than 50,000 people took to the streets of Dublin yesterday to protest budget cuts. As the...

Ivory Coast will Vote in Election

Ivory Coast will now vote in a presidential runoff election that has inflamed political tensions in the world producer of cocoa higher, facing a candidate backed by the north by the rebels against the owner who receives support from the south. At least six people have died in clashes in the accumulation of the vote, prompting the government to impose a curfew at night for six days to 2 December. The curfew has delayed the start of voting by more than 7 hours in many areas of the capital. "I feel a little scary," said Celestino N'dja, a public official, who queued to vote in the commercial capital, Abidjan. "I came early and then I go home. We have suffered over the past 10 years, we are tired of the crisis." President Laurent Gbagbo, who has ruled for a decade, received 38 percent of the...

The second phase of a pipeline of 1.2 billion Gas Link

Iran and Turkmenistan, today launched the second phase of a pipeline of 1.2 billion U.S. dollars to double gas exports from Turkmenistan to the Persian Gulf country of 20 million cubic meters a year, said Press TV. The opening ceremony, attended by Iranian President Mahmoud Ahmadinejad and his Turkmen counterpart Gurbanguly Berdymukhammedov, was held today in the border city of Sarakhs in northern Iran, state news channel said. "Iran is ready for any cooperation with Turkmenistan," said Ahmadinejad in a speech at the ceremony, part of which was broadcast live on Press TV. Turkmenistan, the holder of the fourth largest natural gas reserves in the world, opened a gas pipeline in January 2009 to deliver gas to neighboring Iran, central Asia nation sought to diversify the marke...

New Zealand Mine Blast Inquiry for Industry May Determine Future

The future of underground mining in New Zealand is likely to be determined by a Royal Commission to investigate the cause of the deadly explosions in the mine at Pike River Coal Co., Prime Minister John Key, he said. "Ultimately, the future of Pike River and actually underground coal mining in New Zealand is based on this," he told TV New Zealand quality assurance today. "We can not put people in environments that are dangerous." The first explosion at the mine in Wellington, based in Pike River on the west coast of South Island took place on November 19, followed by a larger explosion on 24 November that led the police to say that none of 29 workers missing had survived. Rescuers could not enter the mine due to toxic fumes and potential explosions. The mine will not restart until you understand...

gold production in the third quarter in Australia won 22 %

gold production in the third quarter in Australia won 22 percent compared with the same period a year ago, as prices remained high, a research group said. Production has increased to 67 metric tons in the three months ended September 30, 1912 tons more than a year ago, Sandra Close, director of Surbiton Associates Pty Melbourne, said in an emailed statement. The gold went to a gain of 10 th and prices may average $ 1,375 an ounce during the first quarter of 2011, National Australia Bank Ltd. said on 23 November. Regis Resources Ltd and Integra Mining Ltd. began last quarter output, Surbiton said. "We are now seeing the results of a sustained period of higher gold prices," said Close. "We are now seeing the effects of the revaluation of the known deposits and the presentation of the old...

Black Friday sales up 0.3% to $ 10.7 billion

Black Friday sales were little changed, rising 0.3 percent, over last year, as the efforts of U.S. retailers to attract customers by opening false starts, ShopperTrak said. Early Christmas sales and promotions boosted sales and traffic in the first two weeks of this month through November 13 by 6.1 percent and 6.2 percent respectively, ShopperTrak, said in a statement on its website web. Shoppers across the country spent 10.69 billion U.S. dollars yesterday, Bill Martin, founder of Chicago-based firm ShopperTrak research, said in a statement. Black Friday is the day after Thanksgiving in the U.S. and the traditional start of the Christmas buying season. Hundreds of people queued at individual stores across the U.S. to take advantage of special offers as they face a slow economic recovery....

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