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.
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.
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.
'A poorly conceived reboot that's overlong, overdramatic and overdone, Love Aaj Kal simply cannot differentiate between pyaar and parody,' says Sukanya Verma.
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.
Once a simmering volcano of emotions that could erupt at any moment, Australian Open champion Serena Williams appears to be heading down a path that may perhaps lead to her being renamed Serene.
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.
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.
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.
The financial losses due to economic meltdown and Mumbai terror attack notwithstanding, the Indian hotel industry is gearing up for the Commonwealth Games next year to make the most of the likely spurt in tourist traffic.
In these times of economic turbulence, more Indians prefer life insurance policies than fixed deposits, as an option to safeguard their capital, says a survey.
With industry buckling under the impact of global meltdown, Indian IT outsourcing firms are adopting a 'zero tolerance' policy on fraudsters who have managed to get IT jobs using fake resumes.
The effects of the global financial meltdown are not restricted to the corporate sector, but have also precipitated to the savings and investment pattern of Indian households.
England should instead celebrate the fact that, among all speculation, intimation and finally confirmation, Kevin Pietersen made it absolutely clear that he wants to carry on as a player.
The economy is scheduled to dominate the seventh annual Pravasi Bharatiya Divas in Chennai, January 7-9. Minister for Overseas Indian Affairs Vayalar Ravi told Rediff India Abroad that the ongoing economic meltdown has affected the Diaspora and could even impact on the numbers participating in the PBD, but said such impact could be marginal. "We are not getting any alarming report, so far," the minister said, adding that at least 1,200 prominent NRIs are expected to attend.
The plan includes raising the capacity of its aluminium smelter to 2 million tonne, Lanjigarh alumina refinery capacity to 5 million tonne per annum and generation of 4,000 MW power in the state. About 700 small and medium enterprises can come up in the proposed aluminium park. Vedanta will not only supply the metal required for these units, but also supply them power from its 4,000 MW power plant in the locality.
Expressing concern over the 'effects' of global slowdown on the Indian economy, Prime Minister Manmohan Singh on Saturday cautioned that the next fiscal could be 'more difficult'.
In an interview published in the Sunday Times on Sunday, Ratan Tata admitted with hindsight that he might have gone too far too fast, but that nobody saw the economic recession coming.
There have been cancellations in inbound air bookings as well as in hotels after the November 26 terror strikes in the western metropolis, industry experts said. According to the ministry, the growth rate in the foreign tourist arrival during January-November 2008 was only eight per cent as compared to growth rate of 14.8 per cent during the same period in 2007.
Plastic is shaping up to be the next chapter in the financial meltdown. What Americans need to know.
In the first quarter of 2008, the company had a net loss of $4.3 million, Orient Express said. The net loss from continuing operations for the period was $13.6 million compared with a net loss of $2.4 million in the first quarter of 2008.
Experts say that until the market bounces back to a respectable level and creates confidence among investors, who could look forward to some price appreciation, IPOs will not be successful.
The President, who has become chief shareholder in several US firms, said, "I don't want to run auto companies. I don't want to run banks. So the sooner we can get out of that business, the better off we are going to be".
Projecting an up to 7 per cent economic growth rate in the current fiscal for India, credit card firm Mastercard on Wednesday said the country could recover from the global meltdown faster than many other markets as it has been less capital intensive in its development.
World number one Serena Williams survived a mid-match meltdown to beat Czech Lucie Safarova 6-3, 6-7(2), 6-2 to win the French Open on Saturday, her 20th Grand Slam singles trophy.
A stable government and more reforms are needed to hike growth beyond 6%.
We have a few tips that will help you to tide over the crisis.
Other regions where the New York Stock Exchange-listed firm is targeting to expand its presence include China and Latin America. In an investor presentation, it said that as part of measures to cut costs in "corporate and other overhead, the company has slashed its headcount by 14 per cent," in addition to which finance, HR and IT staffing have also been reduced.
A sample study conducted for the period August-October 2008 by department of commerce for 121 export related companies also revealed loss in export orders to the tune of Rs 1792 crore (Rs 17.92 billion), he said during Question Hour in Lok Sabha.
In view of financial constraints, government has taken a policy decision to open new post offices, wherever necessary, by redeployment of existing employees and within the available resources with the department, minister for communication and IT A Raja said in the Lok Sabha during Question Hour.
Such employees will get an allowance in cash equal to half of their wages computed on the basis of average salary for their entire service, labour minister Oscar Fernandes said during the question hour. Such employees will get an allowance in cash equal to half of their wages computed on the basis of average salary for their entire service, labour minister Oscar Fernandes said during the question hour.
In view of the current global financial meltdown, the Reserve Bank on Tuesday said it is holding back plans for liberalising the operation of foreign banks in the country.
Throughout the developing world, he emphasised, billions of dollars needed for healthcare, education, clean water and infrastructure are being drained by bribes and other forms of corruption. The head of the UN Office on Drugs and Crime called for greater adherence to the UN Convention Against Corruption that has been signed by 130 nations.
Soccer legend Diego Maradona left Kolkata in the wee hours on Monday marking the end of the football wizard's two-day sojourn to the "city of joy".
Lessons from entrepreneurs who have launched businesses in the last 18 months.
On the back of a global meltdown, big-ticket firms may not be flocking at the premier Indian Institute of Technology campuses. IITians, however, have not lost all hope. Many are looking at start-ups for their first jobs.
The last several quarters of tight monetary policy has weakened the industry and put it in a situation of being less capable to weather this storm.
Although investments have been few and far between in the valley, which has had to live under the shadow of attacks by militants from across the border since 1989, the economist said there was a risk that even those who had invested could wind up operations.
According to Jagat M Sarkar, head of HR, e-Rev Max, a product company which has its main development centre in Kolkata and presence in 60 countries, "In the given scenario, there will be increased focus on getting quality manpower. Salary hikes too would be hit. Those on the bench and non-performers are jittery too as companies plan on pink slips.
