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India’s Reliance group has pledged $325 million financing to Steven Spielberg and made production agreements with George Clooney and Julia Roberts’ production houses, according to reports. Indo-Americans have welcomed this Hollywood-Bollywood tie-up. Acclaimed Indo-American statesman Rajan Zed, in a statement today, said that they hoped that films being very effective communication tool world over, this collaboration

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Reliance tie up with Spielberg for joint production ventures with Bollywood

Hindus have lauded Pope for his call regarding working for the "common good" in his long awaited encyclical “Caritas in Veritate” (Charity in Truth) issued in Rome. Acclaimed Hindu statesman Rajan Zed, in a statement in Nevada (USA) today, commended His Holiness Pope Benedict XVI’s criticism of growing divide between poor and rich and abuse of

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Pope calls for common good in prestigious Caritas in Veritate document

Hindus have applauded Heather Mills, model and Beatle Paul McCartney’s ex-wife, for launching a vegan café in United Kingdom. Acclaimed Hindu statesman Rajan Zed, in a statement in Nevada (USA) today, said that more world celebrities should come forward to promote vegetarianism and persuade their fans to go vegetarian, thus contributing to a healthier world. Besides

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Lauding Heather Mills vegan caf, Hindus ask celebrities to promote vegetarianism

Bertarelli defends Alinghi engine to trim sails LE BOUVERET, Switzerland ? Alinghi boss Ernesto Bertarelli has defended the use of an engine his team put on its catamaran to trim the sails during the next America’s Cup. The Swiss tycoon says the rules don’t exclude the use of an engine for that purpose, adding that the idea

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Alinghi boss Ernesto Bertarelli defends use of engine on boat to trim sails for America?s Cup

US proposal to rein in swimsuit technology passed ROME ? A proposal from USA Swimming to rein in swimsuit technology has been approved by FINA’s technical congress. The new rule states: “No swimmer shall be permitted to use or wear any device OR SWIMSUIT that may aid his speed, buoyancy or endurance during a competition,” with the

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USA Swimming proposal to rein in suit technology passed by FINA?s technical congress

WASHINGTON – Bruce Springsteen, U2, Metallica and Stevie Wonder are among the music world’s biggest stars who are set to perform at two New York City concerts in celebration of Rock n’ Roll Hall of Fame’s 25th anniversary. The shows, which will be held at New York City’s Madison Square Garden, will be taking place on

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Springsteen, U2 among stars to perform at Rock n? Roll Hall of Fame anniversary shows

MELBOURNE – Cricket Australia CEO James Sutherland has praised Australian captain Ricky Ponting for his handling of several tense situations during the Lord’s Test. Sutherland emphasized that he was not questioning whether England captain Andrew Strauss had caught the ball cleanly off Phillip Hughes, but wanted to know why it was not referred to the third

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Cricket Australia chief praises Ponting for role in tense Lord?s Test

Deutsche Post Q2 net profit falls 71 pct to euro66M FRANKFURT ? German mail and logistics company Deutsche Post AG said Thursday its second quarter net profit fell 71 percent on weaker sales and one-time effects like bad debt, partly due to the insolvency of department store operator Arcandor AG. Bonn-based Post, whose operations include global shipper

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Deutsche Post second quarter net profit falls 71 percent to euro66 million; sales fall 17 pct

Credit Suisse reports 29 percent rise in Q2 profit ZURICH ? Swiss bank Credit Suisse Group on Thursday reported a 29 percent increase in second quarter net profit after a strong performance in its investment unit drove up core revenues. The net profit of 1.57 billion Swiss francs ($1.41 billion) compared with 1.22 billion francs in the

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Swiss bank Credit Suisse reports 29 percent rise in Q2 net profit to 1.6 billion francs

Porsche SE says CEO stepping down STUTTGART, Germany ? The supervisory board of Porsche Automobil Holding SE said Thursday it has voted to accept the resignation of CEO Wendelin Wiedeking with immediate effect. The statement came after an all-night meeting on the future of the company where the board agreed to seek a capital increase of at

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Porsche Automobil Holding SE says CEO Wendelin Wiedeking to step down immediately

Book: “Listening to Grasshoppers: Field Notes on Democracy”; Author: Arundhati Roy; Publisher: Penguin-Books India; Price: Rs 499 By Madhusree Chatterjee Man Booker winning author Arundhati Roy takes a probing look at the underbelly of the world’s oldest democracy in her new anthology of essays “Listening to Grasshoppers: Field Notes on Democracy” published this week. “By

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Arundhati Roy takes a hard look at democracy (IANS Book Review)

National Australia Bank raises $1.6 billion SYDNEY ? National Australia Bank Ltd., the country’s largest lender by assets, said Thursday it raised 2 billion Australian dollars ($1.6 billion) by selling shares at a discount in a move to strengthen its balance sheet. The Melbourne-based bank on Wednesday offered more than 93 million new shares at AU$21.50 each,

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National Australia Bank raises $1.6 billion in share sale to institutional investors

WASHINGTON – Colombian singer Shakira has said that her latest album was created to distract her fans’ attention away from the recession. The ‘Hips Don’t Lie’ singer insists that her latest musical offering, ‘She Wolf’, was designed to help her fans forget about the world’s current financial crisis and enjoy themselves. “It’s a very electronic album.

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Shakira?s new album will perk up her recession-hit fans

Porsche board meets amid talk of takeover STUTTGART, Germany ? Porsche Automobil Holding SE’s supervisory board agreed early Thursday morning to seek a capital increase of at least ?5 billion ($7.1 billion), and threw its weight behind talks with a Qatar investment fund, a spokesman said. Porsche spokesman Albrecht Bamler said the decisions came after a special

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Porsche board agrees to seek a capital increase and supports talks with Qatar investment fund

WASHINGTON – Describing it as a “landmark event”, the US has said the end-user monitoring (EUM) arrangement agreed during Secretary of State Hillary Clinton’s visit has brought India into the nuclear non-proliferation mainstream. “It’s a very significant agreement,” State Department Spokesman Robert Wood told reporters Tuesday when asked to explain how the EUM for high-tech defence

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End-user pact brings India into non-proliferation mainstream: US

Honduras talks appear to fail as proposal rejected SAN JOSE, Costa Rica ? Talks on resolving the Honduran political crisis headed toward failure Wednesday when the interim government indicated it would reject a mediator’s final proposal for returning ousted President Manuel Zelaya to power. Zelaya, who is in neighboring Nicaragua, declared the mediation effort a failure and

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Mediator?s final proposal for Honduran crisis rebuffed, as talks end without agreement

ESPN bans NY Post reporters over Andrews video HARTFORD, Conn. ? ESPN banned staffers from the New York Post from appearing on any of its programming on Wednesday after the newspaper published photos this week taken from a video showing sideline reporter Erin Andrews nude in a hotel room. The Post published three images from the blurry

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ESPN bans NY Post reporters from its shows after paper publishes images from Andrews video

Obama: Banking system needs new regulation WASHINGTON ? President Barack Obama says the financial system has stabilized but needs new regulations to curtail behavior and practices that led to the meltdown that brought Wall Street to the brink of collapse. The president specifically mentioned regulatory changes that would require shareholders to have nonbinding votes on executive compensation

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Obama says financial system stabilized but needs new dose of regulation

Obama seeks to rally support for health care bill WASHINGTON ? Six months in office, President Barack Obama sought to rally support for sweeping health care legislation Wednesday night as Congress struggled to find agreement on a historic overhaul. He vowed to reject any measure “primarily funded through taxing middle-class families.” At a prime-time news conference, Obama

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Obama seeks to rally support for health care bill, defends decision to set mid-summer deadline

Obama: Health care bill key to economic recovery WASHINGTON ? President Barack Obama said Wednesday night that Medicare and Medicaid are the “biggest driving force behind” massive federal deficits, and must be tamed as part of any health care legislation. At a prime-time news conference marking six months in office, Obama said health care legislation was key

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Obama says health care bill key to strong economic recovery in prime-time news conference