The 62-year-old Fuld, who run Lehman for nearly 15 years, is considering to launch a firm to advise small companies on financial and strategic issues. British daily the Financial Times has reported that Fuld plans a comeback and has told friends that he might launch a small advisory firm to harness his contacts in US companies.
Construction of India's Formula One track would not be affected by the global financial meltdown and it would be ready for its inaugural race in 2011, according to the head of the construction company building it.
The global meltdown, coupled with economic recession and the terror incidents, has hit the tourism industry adversely. While there is a fall of foreign tourist arrival, hotel bookings are also witnessing many cancellations. Besides rationalisation of luxury tax, ministry has also sought seamless movement of vehicles meant for tourists.
The company has told its employees that there won't be wage hikes for the financial year ending July 31, 2009, due to tight demand in the US and Europe, declining volumes and the need to further tighten expenses across business divisions. In a harsher step, the company has slashed retainer bonus, which averages 10 per cent of an employee's salary, from April 1. Travel allowance has been sharply reduced, if not curbed, in most cases.
Power is one of the six major sectors contributing to the country's infrastructure in addition to cement, steel, coal, crude oil and petroleum products. The growth of these sectors account for more than a quarter in the IIP.
RBI had made available a potential liquidity of Rs 5.60 lakh crore (Rs 5.6 trillion), nearly 9 per cent of gross domestic product, to help the country tide over the liquidity crisis following the global financial meltdown triggered by the collapse of America's iconic investment banker Lehman Brothers in mid-September.
In a statement before leaving for London to participate in the meeting of world leaders to discuss the economic meltdown, Singh also focussed on the need to ensure adequate flows of finances to the developing countries to overcome the reversal of international capital flows.
The monsoon rains may have failed and crop output may be lower but, after a small blip, the rural markets are back on track.
Sanjay Nayar is said to be joining Kohlberg Kravis Roberts & Co as its CEO and Country Head in the country.
Calling upon the automobile manufacturers, realty firms and airlines to reduce prices, Finance Minister P Chidambaram on Tuesday promised to consider excise duty cut for the sectors which are facing the heat of global financial meltdown.
Warning that the financial meltdown has exploded into a systemic crisis, Prime Minister Manmohan Singh on Saturday asked world leaders to work on a coordinated fiscal package to tackle recession that is hitting India and other developing countries.
Grappling with falling sales and a dropping bottom line, companies have had no alternate but to put cost-cutting measures in place. Infosys, for example, has cut variable pay, made appraisals more stringent and asked employees to make a one time saving of $10.
Imports of rough diamonds at $7,249.39 (Rs 32,839.73 crore) million in April 08 - February 09 have shown a decline of dollar term 20.12 per cent (11.31 per cent in rupee term) compared with $9,075.36 million (Rs 37,027.47 crore) in the same period last year. The marginal growth in exports of cut and polished diamonds in the year 2008-09 from the corresponding period of last year is due to increase in the trading activities of cut and polished diamonds.
Issues raised by the industry, like rationalisation of the eight per cent central excise on jet fuel, still remain to be addressed. As a result of the government abolishing five per cent customs duty on aviation turbine fuel from Tuesday, state-run oil firms have cut jet fuel prices by Rs 2,100 per kilo litre, on top of the 17 per cent price reduction announced late last week.
The end game that the West is seeking in Pakistan and the region is different from the one that India seeks, despite certain congruence in their objectives. India will have to think more clearly about its strategic objectives vis-a-vis Pakistan and how best to achieve them. The barbarians are at India's gates, there is no time to lose.
The increase in MAT from 10% to 15% is expected to increase the tax liability of the companies and thereby decrease their net profit figures.
Some modern-day officials and policy makers continue to behave like religious militants of medieval times, chanting those same mantras markets on their own will take care of everything.
Cinderella and the Global Financial Meltdown is not the sort of story you want to tell your children at bedtime.
The global economy on the other hand is slowly showing signs of recovery with many of the advanced nations, including Germany, Japan and France, climbing out of recession.
The Chinese economy expanded at a rapid rate of 8.9 per cent in the third quarter of 2009 as compared to the year-ago period, mainly boosted by increased infrastructure investment and stimulus measures.
Chairman of Senate Foreign Relations Committee John Kerry has said that he would soon be introducing a legislation in the US Congress to triple the non-military aid to Pakistan to avert an economic meltdown.
Asian sports bosses remain confident they can ride out the global financial crisis despite conceding the region is not immune and they will have to start tightening their belts. Leading officials from soccer, cricket, golf, rugby and the Olympics are already bracing themselves for the possible flow-on effects of the global financial meltdown.
Prime Minister Manmohan Singh on Thursday expressed confidence that India would emerge the least affected country of the world from the current global economic meltdown.
Data on the new series given by a panel on real sector statistics shows that GDP grew by 10.23 per cent in 2007-08 and 10.78 per cent in 2010-11. There are some years for which the new figures show a deceleration in growth as well. The new series has 2011-12 as the base year while the earlier series had 2004-05 and 1993-94.
An effective settlements system has helped Indian stock markets face the challenges posed by the global financial meltdown, the Sebi chairman said on Wednesday.
The Rupee on Thursday breached the 49-mark against the US dollar and fell by 52 paise in early trade following increased capital outflow by foreign funds due to melting stock markets.
With the festival of lights just around the corner, things this year are looking brighter and sweeter for the software majors compared to one that went by, when they were struggling to grapple with the effects of the global meltdown.
The fact is evident from the conspicuous absence of advertisments on attractive offers by property developers in the print media here, which is relatively high during the current festive season. Developers Prakramsinh Jadeja and Pravin Patel admit to having fewer number of queries for buying as well as selling of both residential as well as commercial properties.
Issue tied in with review of foreign bank operations in India. RBI had earlier proposed to defer the review, which is meant to provide guidelines for the presence of foreign banks in India from April 2009 onwards, given the current economic meltdown globally and in the domestic markets.
New book goes deep into Buffett's heart and soul and finds value in both places
"We have zero cancellation from India. We have been working carefully. We sold $25 billion worth of aircraft in the last three years. Hundred more are to be delivered in the next five years which is valued at $17 bn," said Dinesh Keskar, the newly appointed president of Boeing India. Boeing's major buyers in India, Air India, Spice Jet and Jet Airlines have not made any cancellation, Keskar said.
Despite the global meltdown, Boeing, the world's largest manufacturer of commercial and defence aircraft, on Tuesday said there is no cancellation in its orders from India and assured to deliver aircraft on schedule to its buyers including Air India, the official national carrier.
Reserve Bank Governor D Subbarao on Friday met Prime Minister Manmohan Singh and is believed to have discussed the state of the economy and initiatives taken by the central bank to arrest the impact of the global financial meltdown on the Indian economy.
Claiming that it had the best of the mechanism to protect clients and cut their losses during the stock market meltdown, ICICI Securities has said brokerage firms should be rated in the interest of investors.
Last month saw 30 companies filing their draft red herring prospectuses with the market regulator for initial public offers , a sharp increase from six in August and three in July this year. The Securities and Exchange Board of India received eight filings in September last year, the month the Lehman Brothers meltdown brought the world economy to its knees.
Employment generation in the midst of a global meltdown will be the central idea of the Interim Budget that the United Progressive Alliance will present on February 16, just ahead of the general elections.
Korn/Ferry is a global leader in executive search. For the quarter ended July 2009, its fee income fell over 40 per cent to $116 million from a year ago and the company reported a net loss of $14.3 million as against a profit of $15.3 million in the year-ago quarter. Its chief financial officer, Michael A Digregorio and managing director for India, Deepak Gupta, spoke to Bhupesh Bhandari and Amit Ranjan Rai on the emerging opportunities and challenges.
Infosys Technologies has placed around 5 per cent of its global workforce under the scanner. The move, which is being seen as an offshoot of the global financial meltdown, is expected to affect over 5,000 of the 100,000-plus employees on the company's rolls.
As companies find themselves in the midst of an unprecedented meltdown, the role and expectations from CEOs are changing, according to Spencer Stuart, one of the largest global recruitment agencies for senior directors and CEOs. It has made these findings from recruitments undertaken in India across sectors like financial services, telecommunications and FMCG, amongst others.
Australian Nick Kyrgios has pulled out of the Rotterdam Open in February to play in basketball's NBA All-Star Celebrity Game, tournament director Richard Krajicek was quoted as saying on Wednesday.
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