The growth of India's IT outsourcing sector, which contributes to about 25 per cent of the country's total exports, is expected to slow down sharply this year following a drop in demand due to the global financial crisis, India's software industry lobby predicted.
Areva, the French nuclear group, agreed on Wednesday to supply India with up to six nuclear reactors in one of the first deals since the subcontinent's nuclear programme was brought into the international fold last year after decades of isolation.
India's once soaring demand for high-end apartments and offices has slumped, leading to falling profits for large property developers and a shift in focus towards affordable housing for middle-class families.
Paying your date's bar tab with a coupon is not generally seen as the best way to impress. But as New York's singles' crowd comes to grips with the recession, it is starting to see such potentially embarrassing options as a better alternative to going broke.
Cheap Chinese-made toys have filled India's toyshops and bazaars in recent years, displacing locally made goods, but Indian politicians are now striking out against the imports.
Shunned for decades for refusing to relinquish its nuclear weapons programme, India was finally welcomed as a member of the global nuclear club last year when the US dropped long-standing sanctions.
The cash injection from Tata has bought ministers breathing space to respond to demands for multi-billion-pound loan guarantees from the car sector. Alistair Darling, chancellor, is understood to be concerned that any state support does not set too generous a precedent for other sectors.
Oil consumers and producers united yesterday to warn that extreme price volatility was dangerous for the world economy, but disagreed on what an appropriate price should be.
The next three months will be a wrenching time for every player in the North American motor industry as the Detroit carmakers seek to prove their long-term viability.
George W. Bush on Friday handed the fate of US carmakers to president-elect Barack Obama as he announced plans to lend General Motors and Chrysler $17.4bn to survive the next three months.
Barack Obama on Thursday named Mary Schapiro, head of the securities industry's self-regulatory body, as chair of the Securities and Exchange Commission.
Crude oil prices continued to retreat on Thursday, in spite of Opec announcing the largest supply cut in the cartel's history on Wednesday in its latest effort to stabilise the market.
Goldman Sachs on Tuesday reported its first quarterly loss since it became a public company in 1999, after a severe decline in asset values, including real estate, hit the bank's revenues.
Arriving in Oran, Algeria, ahead of an Opec ministerial meeting on Wednesday, Ali Naimi, Saudi Arabia's powerful oil minister, said Opec had so far cut a total of 1.7m barrels a day, with Saudi Arabia accounting for 1.2m b/d.
Oil prices fell after the US Senate rejected a $14bn bail-out plan for the carmakers' sector, a move that weighed heavily on sentiment towards commodities.
Since Ratan Tata , the patriarch of India's Tata Group, decided to splash out $13.1bn early in 2007 on Anglo-Dutch Corus, he has spent a lot of time with smooth-talking Frenchman Philippe Varin , who has run Corus for five and a half years.
The top executives at Merrill Lynch and Morgan Stanley, led by their chief executives John Thain and John Mack, will not receive bonuses this year amid growing pressure on Wall Street leaders to share the pain of the financial crisis.
Global oil demand will collapse next year and commodities will not return to the highs they reached this summer in the foreseeable future, two authoritative reports said on Tuesday as they forecast a long and painful worldwide recession.
The airline industry will suffer a $2.5bn net loss next year despite the big fall in the oil price, as carriers are overtaken by falling demand for air travel amid the deepening recession in several leading economies.
Over the weekend, the Bombay high court quietly published a 160-page court order detailing its decision to dismiss a petition by Vodafone of the UK against the Indian tax department.
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