A look at who own the most amount of gold in the world.
The mixed narratives emerging from Russia undermine Mr Putin's position and authority even more than the actual facts, observes Mihir S Sharma.
Gulf Cooperation Council member countries will see their gross domestic product grow at 5.2 per cent in 2010 on the back of rising oil revenues, the IMF has said.
In any downturn, the turnaround comes only when investors feel asset prices have bottomed out; when consumer demand has fallen so much that it has nowhere to go but up; and when bankers feel that businesses (or those that remain) are on even keel.
According to data released by the Reserve Bank of India on Friday, foreign currency assets dropped by $4.54 billion to $238.30 billion during the week. Gold and special drawings rights have remained unchanged in the reserve. During the week, the reserve position in the International Monetary Fund dropped by $15 million to $828 million.
The Indian economy is expected to grow around 10 per cent during the current financial year on the likelihood of fewer COVID-19-linked supply disruptions and buoyancy in the global economy, said Poonam Gupta, director general of economic think-tank NCAER. The real challenge, however, would be to sustain a growth rate of 7-8 per cent in years to come, she said. "We could see annual growth in the ballpark range of about 10 per cent. "The reasons for this perceived optimism are: fewer supply disruptions; increased pent-up demand in the traditional and contact-intensive services; and a buoyant global economy.
President Gotabaya Rajapaksa on Monday fired Basil Rajapaksa from his post and invited the Opposition parties to join a unity Cabinet to tackle the raging public anger against the hardships caused by the economic crisis.
For the 2009-10 fiscal, Pranab said, he expects the economy to grow by 7.2 per cent.
'I don't see any relationship between them and ex-army or ex-ISI as has been happening in the past,' says strategic analyst Shuja Nawaz, who is convinced the Pakistan army and its intelligence wing, the Inter-Services Intelligence, are not complicit in the Mumbai terror attacks.
IMF has praised India's economic performance and has negated the concept of decoupling as economies today are much closely related to each other.
India can now, if required, borrow up to $30 billion a year, up from $6 billion, from the International Monetary Fund for a three-month period which can be renewed twice more in 3-month cycles.
The move by Islamabad comes as it is also approaching Western and Gulf donors for rescue packages at a time when its foreign exchange reserves fell to a six-year low of less than $8 billion. Experts have said Pakistan's foreign exchange reserves, in real terms, are barely adequate to cater for imports for one-and-half months.
Bajaj Finance was the top laggard in the Sensex pack, tanking up to 8 per cent, followed by M&M, Tata Steel, Bajaj Auto, ONGC, HDFC Bank and Kotak Bank. On the other hand, TCS, Tech Mahindra, HUL, Axis Bank and ITC were the top gainers.
Until now the Fund has sold 212 metric tonnes of gold but it was limited to central banks.
As the duration of the FRBM Act, enacted in 2003, has come to an end, the government would be required to replace it with another law on fiscal consolidation.
"We see the Indian economy rebounding from our projected 6.1 per cent growth this fiscal year to something like 7 per cent in the next fiscal year (2020). We see the factors that will support growth, including monetary policy stimulus, working their way through the pipeline," Jonathan Ostry, Deputy Director, Asia Pacific Department at the IMF, told reporters.
India's foreign exchange reserves declined $1.73 billion to $254.21 billion during the week ended May 15, 2009, mainly due to revaluation of currencies.
The warning being issued by many respected economists to governments across the world has been as follows: do not declare victory too soon since the path ahead is a very long one.
Warning that the worst may not be over yet, Reserve Bank Governor D Subbarao has said the global economic recession may not only continue through 2009 but could prolong to the next year as well.
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