IBT Staff Reporter

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Petrobras brings good news Acquisition

Brazilian Company, Petrobras which has acquired 60% of interest in Namibian exploration recently on Tuesday said it has $10 billion credit line from the China Development Bank to refinance its investments and services that has bought from china.

SanDisk CEO upbeat on 2009

SanDisk Corp Chief Executive Eli Harari said 2009 could turn out to be significantly better than anticipated at the start of the year as big cutbacks in flash memory production bring balance back to an industry stung by oversupply.

Wall Street rises as housing data weighed

Stocks moved higher on Tuesday as investors bet that April's slide in U.S. housing starts and permits signaled that the housing market may soon stabilize as the supply of new homes dwindles.

HSBC says consolidation to spur buying opportunity

HSBC Holdings, Europe's biggest bank, expects to see consolidation in the financial industry later this year and in early 2010 that will create buying opportunities, Chief Executive Michael Geoghegan said on Tuesday.

Oil eased from six-month high on weak housing data

Oil slipped from a six-month high above $60 a barrel on Tuesday along with other commodities and stock markets as data showed U.S. housing starts fell to a record low in April, tempering hopes of economic stabilization.

Symbian sees smartphone market up 12-15 percent

Sales of smartphones are set to grow 12-15 percent in 2009, said Lee Williams, chief of the Symbian Foundation, the consortium of companies around the world's most popular smartphone operating system.

China brushes aside Zhao's Tiananmen memoirs

A Chinese government spokesman on Tuesday brushed aside questions about a top official purged for opposing the armed crackdown on pro-democracy protesters in 1989, saying the official verdict on the demonstrations still stood.

India's Singh vows inclusive growth, reforms

Indian Prime Minister-elect Manmohan Singh vowed on Tuesday to revive growth and spread the benefits of economic expansion that swept his coalition back to power with a decisive mandate in a general election.

ASEAN prods Myanmar junta over Suu Kyi trial

Myanmar's Southeast Asian neighbors expressed grave concern on Tuesday over the trial of opposition leader Aung San Suu Kyi but China said it would not interfere in the regime's affairs.

Iran leader says U.S. promoting terrorism

Iran's leading authority accused the United States on Tuesday of promoting terrorism in border areas and using arms and money against the Islamic state, in his latest verbal attack on Tehran's arch enemy.

Blue collar males lose more ground

Rodney Ringler is an unemployed blue collar male without a college degree. He's hardly alone. Men like him have been the main victims of the current recession in the United States.

With new gov. India eyes growth and inclusion

Indian Prime Minister-elect Manmohan Singh vowed on Tuesday to revive growth and spread the benefits of economic expansion that swept his coalition back to power with a decisive mandate in a general election.

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