Australia’s economic outlook remains subdued: Survey

Sydney: Australian economic outlook improved slightly in December 2011, but the growth rate of future economic activity remains subdued, according to a survey released Wednesday by Westpac Banking Corporation and the Melbourne Institute.

The annualized growth rate of the Westpac/Melbourne Institute Leading Index, which indicates the likely pace of economic activity three to nine months into the future, was 2.3 per…

Big pink diamond found, to be cut as single stone

Sydney: Australia’s biggest pink rough diamond has been discovered at Rio Tinto’s Argyle mine, the world’s largest producer of rare pink diamonds, and is to be cut and polished as a single stone.

The diamond will be cut and polished by the company’s expert diamond cutter Richard How Kim Kam, media reports said Tuesday.

The 12.76 carat gem, which will be known…

More Kingfisher flights hit, government rules out bailout

New Delhi/Mumbai: Around 35 flights of Kingfisher Airlines were cancelled Monday, disrupting operations for third day in a row and the Indian government queered the runway ruling out a bailout for the cash-strapped carrier. The airline was also asked to explain the reasons behind flight cancellations.

The airline is operating only 16 of its fleet of 64 planes and has cancelled…

Wedding ring eaten by calf re-discovered at butcher’s shop

A wedding ring sucked off a man’s finger by a calf three years ago has been recovered from the animal’s stomach at a butcher’s shop, Daily Mail reported.

Dairy farmer Will Jelbart told the butcher to keep an eye out for the ring after the calf, by now a cow that ended up in the abattoir, was about to be cut…

Australian Reserve Bank leaves cash rate unchanged

Sydney: The Reserve Bank of Australia (RBA) announced Tuesday its decision to leave the cash rate unchanged at 4.25 per cent following its February board meeting.

The decision surprised the market as economists expected a quarter of a percentage point rate cut, reported Xinhua.

RBA Governor Glenn Stevens said in a statement that the acute financial pressures on banks in Europe were…

Booklets provide guidance to women dumped by NRI spouses

New Delhi: As part of efforts to help women deserted by their non-resident Indian (NRI) husbands, the government has brought out booklets and pamphlets on safeguards, legal remedies and whom to approach for redressal of grievances.

Besides the booklet “Marriages to Overseas Indians”, the Ministry of Overseas Indian Affairs has brought out a pamphlet titled “Thinking of the marriage of your…

Money can buy happiness if you know how to spend

People spending money to enjoy different experiences in everyday life, such as days out or concert tickets, are happier than those who spend on buying possessions, says a study.

This was the finding of a study of 9,600 people who were questioned about their shopping habits, as well as to ascertain personality traits, values and life satisfaction, the Daily Mail reported.

Extroverts…

“India to grow faster in 2012-13”

New Delhi: The Indian economy would grow a little over 7 per cent this fiscal ending March 31, and it would turn around in 2012-13, the government’s Chief Economic Adviser Kaushik Basu said Tuesday.

“In the current financial year, growth rate will be less than 7.5 per cent for sure, may be just a little bit above 7 per cent,” Basu…

Indians, foreigners alike salute Gandhi

New Delhi: Insisting that his teachings remained relevant today, some 300 Indians and foreigners gathered here Monday to mourn the death of Mahatma Gandhi at the very spot he was assassinated 64 years ago.

The small but visibly committed group included a sprinkling of foreigners, particularly from the US and France, a few from neighbouring states and mainly from those living…

Obama-driven car for sale

London: A car driven by US President Barack Obama is up for auction on shopping website eBay at a whopping starting bid of $1 million.

Obama, before he became President, reportedly drove the grey 2005 Chrysler 300C sedan.

Lisa Czibor, who is managing the auction, said Obama leased the car for three years from 2004 to 2007 before trading it for a…