- - Sunday, June 24, 2012

CAMARILLO, Calif. — The average U.S. price of a gallon of gasoline has dropped 15 cents over the past two weeks, according to Sunday’s Lundberg Survey of fuel prices, which puts the price of a gallon of regular at $3.48.

Midgrade costs an average of $3.65 a gallon, and premium is at $3.77.

Diesel dropped 13 cents to $3.78 a gallon.

Of the cities surveyed in the lower 48 states, Jackson, Miss., has the nation’s lowest average price for gas at $3.03. San Francisco has the highest at $3.95.


Israel looks for boost in visitors from India

JERUSALEM — Israel’s tourism minister says he is looking to India for a big boost in visits to his country.

Stas Misezhnikov said Sunday that some 40,000 Indians visited Israel last year. While that’s a small percentage of the roughly 3 million tourists Israel gets each year, it’s double the amount of just two years ago.

Mr. Misezhnikov said he can bring that figure to 100,000 in three years.

At a news conference with his Indian counterpart, Mr. Misezhnikov said Israel will open new flights to destinations in India such as New Delhi, Goa and Kolkata. The Israeli Tourism Ministry also plans to open an office in Mumbai this year.

Mr. Misezhnikov and Indian Tourism Minister Subodh Kant Sahai signed an agreement to encourage travel between their countries.

India is a popular destination for Israelis.


Central bank group says crisis fixes still necessary

FRANKFURT, Germany — Governments, banks and households struggling with too much debt are dragging down the world’s economy and more needs to be done to make the banking system safer, a global organization of central banks warned Sunday.

The Bank for International Settlements said in its annual report that the world economy remains out of balance, with advanced economies struggling with debt and emerging economies growing strongly but facing risks of their own version of boom and bust.

The BIS, an intergovernmental organization of central banks based in Basel, Switzerland, said it’s key for governments to make banks take responsibility for their losses and force them to rebuild their finances. Meanwhile, the threat from risky bank behavior is growing again.


Expanded airport expected to spur growth

LAS VEGAS — With the arrival of an overnight flight from London this week, Las Vegas will mark the opening of a $2.4 billion airport terminal that officials say could help lift the southern Nevada economy from the depths of the Great Recession.

Some are crediting McCarran International Airport planners with foresight for giving a go-ahead in 2008 for a project that airport chief Randall Walker now calls crucial to serving tourists from the U.S. and Britain, plus places such as Panama, South Korea, the Philippines, Amsterdam and Berlin.

“What they’ve done is good, solid planning,” said Michael Boyd, an aviation analyst based in Evergreen, Colo. “When Air China wants to come in, AirIndia or Turkish Air, they’re going to want a gate right away. This is a good move for Las Vegas. It keeps them ahead of the curve.”


Ex-coach Donnan reaches proposed bankruptcy deal

ATHENS, Ga. — Former University of Georgia football coach Jim Donnan has agreed to a proposed bankruptcy settlement with a West Virginia company and investors who say the coach owes them $40 million lost in a failed Ponzi scheme.

Court records show a federal bankruptcy judge in Ohio approved the settlement Wednesday. Mr. Donnan filed for bankruptcy protection last July in Georgia. A judge there must also approve it. A hearing is scheduled July 19.

Retail liquidation company GLC Limited says payouts to investors in a Ponzi scheme drove it into bankruptcy. Mr. Donnan was an early investor in GLC and recruited others to invest, but he denies being part of a scheme.

The settlement calls for Mr. Donnan to pay more than $7 million to GLC, plus 80 percent of claims by investors he recruited.

• From wire dispatches and staff reports

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