The recession put the brakes on some of the most ambitious skyscrapers ever conceived.
Over one-fifth of the corporate sector employees surveyed by an industry chamber preferred to be in their workplaces even when they fell sick on fears of losing wages, incentive and goodwill.
Mike H. Stewart breeds $12,000 dogs that can hunt and play.
Experts predict that the slowdown will last through the first half of 2009 in India, after which a slow revival will begin. As and when that happens, a lot will need to be done to adjust to the new circumstances.
McDonald's, for instance, plans to invest Rs 120-150 crore (Rs 1.2-Rs 1.5 billion) for expansion in the current year. It will add 40 new outlets across India (it has 155) and open 40 kiosks, dessert and beverage service counters. Says Vikram Bakshi, managing director (north and east)" "We will maintain 30-35 per cent growth rate this year as well."
From the peak of $3.67 trillion in January, India's market cap has eroded by $676 billion amid rising bond yields and a record-breaking sell-off by overseas investors.
A special court had ordered him to join the CBI investigation within 16 hours of his arrival from the United Kingdom and Europe, where he had gone with the permission of the Supreme Court and the special court itself.
Parliament will now meet on March 8 for the second part of the Budget session.
In its latest report titled Global Employment Trends For Women, the UN's labour body said unemployment of women -- a vulnerable group -- might rise between 6.5 per cent to 7.4 per cent during the year. It recommended that 'when governments design and implement fiscal stimulus packages, it is important to recognise the labour market disadvantage that women face through the equity challenge, and to consider explicit employment growth targets for women.'
Billions of dollars, pounds and euros may have been lost in the global financial crisis, but most of Europe's leading soccer clubs are still poised to spend big when the winter transfer window opens on New Year's Day. Manchester City have been linked with more than 50 players in the build-up to January 1 including Thierry Henry and Lionel Messi of Barcelona, Kolo Toure of Arsenal and Roque Santa Cruz of Blackburn Rovers.
Edtech unicorn Vedantu has laid off 424 employees, about 7 per cent of its workforce, according to a blog post shared by the Bengaluru-based firm. This comes as the focus in the edtech space has shifted to profitability, according to experts. The lay-off comes days after the company fired 200 contractual and full-time employees, at a time when offline schools and colleges are opening up and learning is evolving into a more nuanced blended delivery model with a mix of online and offline.
The session will begin with President Ram Nath Kovind's address to the Lok Sabha and Rajya Sabha assembled together in the Central Hall and chambers of both the Houses in view of the COVID-19 situation.
Trading across global markets remained volatile on Thursday, and the nerves of investors were tested by dollar weakness and continued worries about the deteriorating health of the financial system.
Asian banks, especially the ones engaged in realty and home segment, will be significantly affected due to volatality in the global markets.
In the face of imminent US recession, fears of gold falling during recession are rife.
US hedge fund Tiger Global and Japanese investment giant SoftBank have trimmed their investments in Indian start-ups by over a third - from $3.8 billion in the second half of 2021 to a mere $1.08 billion in H1 2022, according to data from Venture Intelligence. While SoftBank's investments in India dropped from $1.9 billion in H2 2021 by more than a fifth to only $0.33 billion in H1 2022, that of Tiger Global fell from $1.92 to $0.74 billion in the same period. Private equity (PE) fund trackers point out that this year most of the deals that Tiger Global has invested in are in the early stage (up to series D), and only a few are in the series E and above.
Shaktikanta Das is a master of the finest balancing act who listens to all but takes his own decisions, discovers Tamal Bandyopadhyay.
Seven years after Modi took office, merchandise exports were lower in 2020-2021 than when he had taken over from Manmohan Singh, points out Aakar Patel.
'Investors should continue to invest because you are looking at the long-term; in the next four to five years, we are bound to outperform (the rest of the world equity markets).'
Equity indices failed to hold on to their gains in see-saw trade on Tuesday, ending in the red for the third straight session despite a tentative recovery in global equities. The rupee too bounced back from historic lows, but the overall sentiment remained risk-averse amid concerns over economic recovery in a high interest rate scenario. The 30-share BSE Sensex had a choppy start but gained momentum in mid-session trade. However, it succumbed to selling pressure towards the fag end to close 105.82 points or 0.19 per cent lower at 54,364.85. On similar lines, the broader NSE Nifty declined 61.80 points or 0.38 per cent to finish at 16,240.05.
K Vijayendra Prasad denies it with an emphatic 'No!'
There was no clear winner between former chancellor Rishi Sunak and Foreign Secretary Liz Truss on Tuesday after the UK's prime ministerial candidates went head-to-head in their first television debate as finalists and clashed fiercely on their economic policies and tax plans.
Rahul Dev Burman's collaboration with Asha Bhosle and Kishore Kumar was unique, but he saved his best for Lata Mangeshkar.
The Cabinet Committee on Parliament Affairs has recommended that the winter session of the Parliament be held from November 29 to December 23, sources said on Monday.
Ajit Balakrishnan on keeping an eye on democratising finance in India.
Difficulties in containing the virus, an anaemic policy response, and underlying vulnerabilities, especially across the financial sector, are leading us to expect growth to fall by 5 per cent this fiscal year before rebounding in 2021, S&P said in a report.
Congress MPs on Tuesday staged a walkout from the Rajya Sabha during Prime Minister Narendra Modi's reply to the motion of thanks on President's address, alleging he was only speaking against the Congress party and not on the address.
Fitch Ratings has revised India's GDP forecast to minus 9.4 per cent in the current fiscal year from a previously projected contraction of 10.5 per cent after the economy staged a sharper rebound in the second quarter. In its Global Economic Outlook, Fitch said the coronavirus-induced recession inflicted severe economic scarring and the country needs to repair balance sheets and increase caution about long-term planning. "We now expect GDP to contract 9.4 per cent in the fiscal year to end March 2021 (plus 1.1 percentage point) followed by plus 11 per cent growth (unchanged) and plus 6.3 per cent growth in the following years," the rating agency said.
Indian rupee, which earlier this week touched an all-time low, is likely to remain under pressure and may test new levels as a fallout of the US Federal Reserve indicating more interest rate hikes, experts said. The aggressive rate hikes will dampen demand and increase the possibility of a recession in the US. This could accelerate the pace of capital outflows, weaken the rupee and raise the threat of imported inflation.
A new report by European Consumers Association has revealed that Italians are spending millions of Euros a year to seek advice from astrologers and fortune tellers, instead from banks and brokers, on financial matters.
The war in Ukraine has made its presence felt at the World Economic Forum's annual meeting in Davos. As political and business leaders' debate, they remain fearful of Europe's economic future. There is a sense of gloom among many business leaders as energy shortage and economic recession rear their heads. Global investors are keenly assessing the presence of Indian delegation at Davos.
Looking inward, innovating for the Indian market, and IT-led innovation to make possible no-frills accounts and microfinance loans will be key elements of the medium-term strategy for corporate India.
As the Indian currency hovers around its lowest versus the US greenback, several smaller and mid-sized companies are expected to face rough weather as almost 44 per cent of the foreign loans taken by Indian companies remained unhedged. According to the data sourced from the Reserve Bank of India, Indian companies raised around $38.2 billion in the financial year ended in March. Of this, only 56 per cent of the loans are hedged while the rest of the foreign loans remain unhedged, thus risking the companies to forex volatility.
As the global economic scenario is improving, Ajay Chhibber, regional director (Asia and the Pacific) for the United Nations Development Programme, believes employment will be the major indicator to gauge the firmness of the economic recovery.
The theme for this year parliamentary hearing is to chart out methods of dealing with the global economic crisis.
The American Academy of Matrimonial Lawyers, a leading US organisation of family lawyers, which surveyed its 1,600 members has found that 57 per cent of the attorneys have noted fewer divorce filings since the last quarter of 2008.
Investors continue to back-up equity mutual funds in June as such schemes attracted a net inflow of Rs 15,498 crore on strong flows from systematic investment plans despite volatility in the stock market and relentless selling by Foreign Portfolio Investors (FPIs). This also marked the 16th straight month of positive inflow in equity schemes. Inflows into equity mutual funds in June was lower compared to the net inflow of Rs 18,529 crore seen in May, data from the Association of Mutual Funds in India (AMFI) showed on Friday.
Reserve Bank Governor Shaktikanta Das on Monday said despite the latest headwinds arising from the Jackson Hole summit leading to extreme volatility, our banking system and financial markets are strong enough to withstand such pressures. Taking the markets by surprise, US Fed chair Jerome Powell had told the annual Jackson Hole summit of central bankers and economists last week that he would have to keep raising federal fund rates to tame inflation, which remains the biggest challenge to the world's largest economy. He also warned of the pains that such monetary policy actions would create on growth and jobs.
In June this year the figure was at $2.58 billion. However, the total inflows during the April-July period contracted by about 15 per cent to $10.53 billion over the same quarter of 2008-09, because of accruals in the opening months of the fiscal. In the first four months of 2008-09 it was at $12.32 billion.
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