Business News Archive - July 02, 2009

China has been making big investments abroad but officials say these outflows are unlikely to outstrip inward foreign direct investments any time soon. The officials and other experts said ODIs, or overseas direct investments, have surged recently but that FDIs also have kept pace, China Daily reported. Some foreign banks and organizations have said the surge may cause ODIs to overtake China's FDIs, but Chinese experts told the newspaper that is unlikely at least this year, partly because of Chinalco's failed $19.5 billion bid boost its stake in Rio Tinto, an Anglo-Australian diversified mining company with headquarters in London. Chinalco is the Aluminum Corp.

The Indian government, only days away from presenting the budget, sharply hiked state-set gasoline and diesel prices effective Thursday. Gasoline prices went up by 4 rupees, or about 8 U.S. cents, a liter and diesel by 2 rupees, or about 4 U.S. cents, a liter, the Press Trust of India reported.

LONDON, July 2 /PRNewswire/ -- During times of financial crisis and economic downturn, logistic and transportation companies as well as commercial fleets in other industries suffer from increasing fuel costs and shrinking revenues. A large number of these companies must struggle to survive.

LONDON, July 2 /PRNewswire/ -- Iran's oil production and exploitation of huge gas reserves needs foreign investment. But high profile arrests in the months ahead will deter investors.

IRVINE, Calif., July 2 /PRNewswire/ -- Kelley Blue Book, www.kbb.com, the leading provider of new-car and used-car information, today announces the launch of its Cash for Clunkers Calculator on its top-rated Web site, kbb.com.

CAMBRIDGE, England, June 2 /PRNewswire-FirstCall/ -- AVEVA (LSE:AVV) announced today that it has made further enhancements to its AVEVA Marine portfolio. With a main focus on interoperability, this new release of the AVEVA Marine portfolio now offers AVEVA's marine customers extended possibilities for data exchange between various sources. AVEVA Marine users will now be able to integrate P&IDs and schematic diagrams coming from various systems, including the AVEVA P&ID solution. This brings a real benefit to customers as they are now free to select their P&ID system from various sources and even to integrate P&IDs from other authoring systems into a complete model of their project. AVEVA Marine now also offers a completely new Mechanical Equipment Interface product using the Step AP203 format.

BARRIE, Canada, July 2 /PRNewswire-FirstCall/ -- Winning Brands Corporation (Pink Sheets: WNBD) (Frankfurt: WMU.F) www.WinningBrands.ca has received its first order from the Caribbean market of Anguilla - marking an expansion for Winning Brands in the region from deliveries that began in St. Kitts.

PHOENIX, July 2 /PRNewswire-FirstCall/ -- Mesa Air Group, Inc. (Nasdaq: MESA) (the "Company") announced today that the U.S.

WINSTON-SALEM, N.C., July 2 /PRNewswire/ -- Rarely has a home appliance been able to improve a person's life in so many ways. For years, the water cooler had become the ubiquitous but uninspiring part of every office: A place to fill a paper water cup or talk about the news of the day.

HOUSTON, July 2 /PRNewswire-FirstCall/ -- Gastar Exploration Ltd.

Word of the Day
  • A handkerchief.
  • Specifically— The legendary sweat-cloth; the handkerchief of St. Veronica, according to tradition miraculously impressed with the mask of Christ; also, the napkin about Christ's head (Johu xx. 7).
  • In general, any miraculous portrait of Christ.
The word 'sudarium' comes from a Latin word meaning 'a handkerchief'.