May 11 in pictures
May 11 in pictures
Customers arrive at a Carrefour supermarket near Brussels, April 30, 2010.
The world's second-largest retailer has secured four properties in four cities across India and plans to set up four to five cash-and-carry stores by the end of 2010, according to two sources.
The French retail giant has signed for properties averaging about 100,000 square feet each in New Delhi, Bangalore, Chennai and Hyderabad and is in the process of signing up a fifth property in Mumbai, the sources said.
The first outlet is set to be opened in July in New Delhi, where it has signed a 20-year lease with real estate developer Parsvnath Developers for 100,000 square feet of space, other sources with direct knowledge of the matter said.
People walk past a panel displaying the closing blue chip Hang Seng index outside a bank in Hong Kong, May 10, 2010.
The relief rally from the $1 trillion bailout package in Europe lost steam in Asia on Tuesday as stocks fell, but bonds remained firm and prompted companies to sell debt.
Asian shares dropped, while the euro slipped and was off its Monday high as doubts persisted on the ability of the eurozone countries to cut swelling budget deficits and mounting debt.
The MSCI index of shares outside Japan fell 1.1 per cent, reversing a 3.4 per cent gain on Monday, its biggest single-day rise since May 2009.
Asian currencies, except for the Philippine peso, also retreated. The Korean won and the Singapore dollar gave up earlier gains as the market turned cautious over possible intervention by the central bank.
ArcelorMittal head Lakshmi Mittal answers a question during a news conference in Luxembourg, February 10, 2010.
China's steel industry is ripe for consolidation in coming years, but the process elsewhere has largely run its course, the head of ArcelorMittal, the world's largest steelmaker, said on Tuesday.
Mittal told the company's annual shareholders meeting he expected developing countries to make up 70 percent of global output in four to five years. The developed world would still lead product development.
"Outside China the steel industry is well consolidated. I really do not see major consolidation transactions in the steel industry, albeit there could be smaller opportunities available," Mittal said.
The ArcelorMittal chief said he believed China, the world's largest producer, would have companies making an annual 50 to 70 million tonnes in four to five years. China's largest steelmaker Baosteel shipped some 35 mil
Smoke billows from a chimney of an industrial plant in Mumbai in this September 16, 2009 file photo.
India's greenhouse gas emissions grew 58 per cent between 1994 and 2007, official figures released on May 11, 2010 showed, helped up by a largely coal-reliant power sector that nearly doubled its share in emissions.
Total emissions rose to 1.9 billion tonnes in 2007 versus 1.2 billion in 1994, with industry and transport sectors also upping their share in Asia's third largest economy and confirming India's ranking among the world's top five carbon polluters.
By way of comparison, between 1994 and 2007, India added more than the entire emissions produced annually by Australia. India is still low on per-capita emissions, about a tenth that of the United States.
The power sector accounted for 719.30 million tonnes of emissions against 355.03 million tonnes in 1994, while the transport sector's share jumped to 142.04 million
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