News Today - July 29

* A gauge of U.S. house prices posted its first monthly gain in three years, providing some solace to consumers shaken by rising joblessness.

* Shares in China State Construction Engineering Corp, whose $7.3 billion initial public offering last week was the world's largest in a year, jumped beyond analysts' expectations in their market debut, boding well for upcoming IPOs but stirring concern about asset price bubbles.

* Treasury Secretary Timothy Geithner says the biggest achievement of two days of talks with his Chinese counterparts is a 'framework for cooperation' to map out economic relations over the years ahead.

* Japan’s retail sales fell for a 10th month in June, extending the longest losing streak since 2003 as job losses and wage cuts forced households to trim spending.

* New Zealand business confidence rose to a 10-month high in July as companies became less pessimistic about profits and the ease of getting credit.

* India's Software industry body Nasscom, in its revised exports growth estimates to be announced in Chennai on Wednesday, is likely to scale down exports growth target to single digits for 2009-10, said people familiar with the development. This is the third such revision by Nasscom in the past 12 months.


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