India's economy recovered faster than expected in the September quarter as a pick-up in manufacturing helped GDP clock a lower contraction of 7.5 per cent and held out hopes for further improvement on better consumer demand. The gross domestic product (GDP) had contracted by a record 23.9 per cent in the first quarter of the 2020-21 fiscal (April 2020 to March 2021) as the coronavirus lockdown pummelled economic activity.
The International Monetary Fund on Wednesday raised India's growth forecast to 5.4 per cent for 2009 and said that the global economy is beginning to pull out of a recession.
According to a survey, almost 40 per cent of male respondents have admitted to feeling low with job security, work and money playing on their minds -- yet, men are unlikely to talk about their feelings than women.
Artificial Intelligence will create 2.3 million machine learning jobs by 2020.
Remunerations of senior executives have, however, increased considerably.
Obama said when he came into office America was going through the worst ever recession.
FM P Chidambaram is expected to address the IMF-WB's spring meeting on April 12 & 13 that is likely to be dominated by the impact of US recession, global inflation & consequent credit crunch leading to global economic slowdown. He is expected to take up India's concerns of rising global food & commodity prices, besides spiraling crude oil prices in the backdrop of domestic inflation, which has touched a 3-year high of 75%. India will take up hike in assistance issue with WB.
America's economic recovery from the current financial crisis is slower than the previous ones, a White House official said on Monday, adding that this is apparently because the crisis has been worse-than-ever.
The arrest of Umar Farouk Abdulmutallah's has yet again brought to light the fact that terror groups prefer recruiting techies for their operations. Reports of the Intelligence Bureau and a study by two European sociologists have shown that the recruitment of techies into terror outfits are constantly on the rise and Indian security agencies say the recruitment of techies was maximum in 2009 when the recession hit the world.
Stephen S Roach, chairman of Morgan Stanley Asia, warned that Asia and India will be hit hard due to a likely recession in the US in 2008, saying "if US sneezes, Asia will catch a cold." Predicting a significant correction in emerging market equities, which would also not spare the fast rising Indian stock markets, Roach, who is regarded as one of the Wall Street's most influential economists, said he did not believe in the global de-coupling theories.
Over 70 per cent of these companies have increased staff since 2005, and expect to create another 3,400 jobs this year.
Moreover, many feel that distorting the company's financial performance is 'justifiable' in the current economic turmoil. The latest European Fraud Survey by global consultancy firm Ernst & Young revealed that 'unethical business behaviour' is gaining more acceptability.
Expressing concern over the crisis that has ravaged Eurozone, Prime Minister Manmohan Singh said on Tuesday that the developing world may be hit by these recessionary trends and urged the rich nations to adopt quick and effective measures 'to prevent the global economy from slipping into a double-dip recession'.
'You need to polish your skills and be prepared to be an asset in the 'new normal' work environment.' 'Access MOOCs (massive open online courses) and keep your brain razor sharp, despite not having a job offer or having your job offer rescinded.'
'Investors should focus on largecap funds, flexicap funds, business cycle funds, or hybrid-category funds.'
In the fifth part of our series 'Happy days are here again', reader Ismail Pervez tells us how he got a new job after 5 months of being laid off, albeit at a lesser salary than he earned in his earlier job.
Barn owl, an endangered species, has come under increased threat in Kerala's Western Ghats, one of its natural habitats, with many recession-hit businessmen from some states seeking it for sacrifice in the belief that it will help them tide over the meltdown.
While Communist Party of India-Marxist Politburo member Sitaram Yechury said the Interim Budget was nothing but a 'perorative' (lengthy and pompous) document and government had in fact lowered the expenditure on major social structure schemes, CPI leaders Gurudas Dasgupta and D Raja called it a 'lollipop' budget meant for the coming elections.
It also marks the end of the first half of the Budget session in the Lok Sabha.
IT services firm Infosys has said that a global company has decided to terminate a multi-year contract worth $1.5 billion with it. On September 14, 2023, Infosys announced a pact with a global company to offer enhanced digital experiences alongside modernisation and business operations services leveraging Infosys platforms and AI (Artificial Intelligence) solutions. In a BSE filing on Saturday, Infosys said the global company has now elected to terminate the Memorandum of Understanding (MoU) and the parties will not be pursuing the master agreement."
'People have got into the habit of sitting at home (and watching films).' 'They don't want to watch movies in theatres because they do not want to waste as much as Rs 1,000 on tickets.' 'They feel there is no point in watching a film on the big screen because it will anyway come on OTT in a month's time.'
Analysts said declining sales across the board from high end to low end stores points to the possibility of prolonged recession with consumers refraining from spending because of weakening job markets with hundreds of thousands losing jobs. Even those who have jobs are cutting down on spending because of fears of possible lay off as no one is sure how long the economic difficulties would last.
Investors' desire for companies to prioritise returning cash to shareholders through share buybacks, dividends or mergers and acquisitions (M&A) is at the highest level since July 2015, said a survey by BofA Securities (BofA). Nearly 30 per cent of respondents wanted companies to do so. As many as 226 respondents with $572 billion worth of assets under management (AUM) participated in the March fund manager survey (FMS), said BofA.
Are we mired in a long-term recession or will the 'green shoots' of economic growth we're seeing be the real thing?
It's the first time in my memory that I have seen a negative expected return for equities, notes Akash Prakash. Hopefully, this implies the consensus is being too negative, and markets, as usual, will surprise everyone and deliver the least likely outcome.
Here's some good news for women who are cutting down on their shopping expenses due to recession: a new 'zipper' dress that can be worn 100 ways has hit the fashion circuit.
Republican presidential presumptive nominee Donald Trump would throw the United States economy back into recession, his Democratic rival Hillary Clinton said.
A recession in the US and a steeper depreciation of the dollar will not have much impact on India, a United Nation Economic and Social Commission for Asia and the Pacific (Escap) report has said. On most other economics of the region, like Taiwan, South Korea and Singapore, the impact would be harsh, The Economic and Social Survey of Asia and the Pacific 2008 said.
Formal negotiations are due to start in Athens on Friday.
Rajnath Singh outlined the major measures and initiatives taken by the Modi government to provide basic needs to people of India, including providing homes, building toilets to end open defecation, electricity, cooking gas and focusing on infrastructure development.
With the Nifty50 just about 3 per cent away from its all-time closing high of 18,812 points, analysts at BofA Securities suggest investors book profit. Their reasons for the advice include risks like the possibility of a cut in corporate earnings growth forecasts, high valuation (one-year forward P/E of 19.5x), interest rates staying elevated for longer-than-expected and credit tightening. Going ahead, they expect the Nifty50 index to drop to 16,000 levels - down nearly 12 per cent from the current level of 18,255 points, which they believe would be a good time to buy.
Bangalore-based Ittiam Systems, which is in the digital signal processing space, is a case in point. Its business model is royalty-driven. It creates intellectual property by way of software and hardware designs, which are used by original equipment manufacturers in areas like mobile internet devices, IP-based networks, video security systems and medical screening.
Bajaj Finance was the biggest loser in the Sensex pack, tanking up to 8 per cent, followed by Hero MotoCorp, IndusInd Bank, Maruti and HCL Tech. Axis Bank, ITC, NTPC and M&M were among the top gainers.
The US, which witnessed one of the worst economic crisis in recent times, is coming out of recession faster and stronger than many countries of the world, a top Obama Administration official has said.
The Queen could be broke in two years courtesy the recession.
Maharaja is an audacious attempt that breaks down the tropes of a crime film with a brilliant Vijay Sethupathi in the lead, notes Arjun Menon.
US President Barack Obama on Wednesday said the 'distasteful but necessary' steps taken by his administration had pulled the recession-hit American economy 'back from abyss' and vowed not to rest until the country was put back to work.
India recorded the highest monthly exports during the fiscal in February, registering an 11.9 per cent growth to $41.4 billion, mainly driven by increased shipments of engineering goods, electronic items and pharma products. The trade deficit during February worked out to $18.7 billion, up from $16.57 billion in the year-ago month, as gold imports surged significantly. Merchandise imports were valued at $60.11 billion, up 12.16 per cent compared to $53.58 per cent in February 2023.
The department also concedes that the industry was hit by recession. The shack owners also faced the brunt of unseasonal rains, which has hit the coastal state much in advance.
'The long-term impact of elections is minimal.'
