Over 2,500 global leaders in business and politics arrived in this Swiss resort on Wednesday to put their minds together on how best to support the fragile recovery following the worst economic crisis since the 1930s.
Government-estimated growth for 2008-09 is 7.1 per cent. However, as per RBI estimates, GDP growth would be around 6 per cent in 2009-10.
'Does 99 percent guarantee character and capacity for an independent awareness of life or does it make you -- barring exceptions -- a compliant careerist beholden to governments and corporations?' 'What kind of political and social choices would such minds make?' asks Shyam G Menon.
Sheeroy Desai, CEO of PAC, was in India recently. In an interview to rediff.com, he made some interesting observations on the recent recession and its impending recovery.
The conference held in New York from June 24 to 30 had agreed on a sweeping action plan to help blunt the impact of the economic downturn, especially for developing counties, but 'in the interest of all nations... to achieve more inclusive, equitable, balanced, development-oriented and sustainable economic development to help overcome poverty and inequality'.
Sri Lanka is going through the worst economic crisis since independence in 1948. A crippling shortage of foreign reserves has led to long queues for fuel, cooking gas and other essentials while power cuts and soaring food prices heaped misery on the people.
Habitat Centre in New Delhi arranged Eminent Persons Lecture series on 'Geo-Political Consequences of Current Financial and Economic Crisis: Implications for India.' In his keynote speech, Shyam Saran, special envoy of Prime Minister Manmohan Singh and former foreign secretary, spoke about the changes taking place around the world.
Habitat Centre in New Delhi arranged Eminent Persons Lecture series on 'Geo-Political Consequences of Current Financial and Economic Crisis: Implications for India.' In his keynote speech, Shyam Saran, special envoy of Prime Minister Manmohan Singh and former foreign secretary, spoke about the changes taking place around the world.
The SJB has begun to collect signatures from MPs for the no-confidence motion, according to media reports.
'We are going to need more technical people in government.' 'You can't expect a generalist to understand the complicated world of financial engineering.' 'I regret to say that most of our politicians have no competence to deal with these things. Nor is there a willingness to learn.'
The way India dealt with the impact of the global economic crisis and failure of the South-West monsoon was praise worthy, said Prime Minister Manmohan Singh in Lok Sabha on Friday.
'It took us 75 years to reach a per capita income of $2,730.' 'According to IMF projections, it will take only five years to add another $2,000.'
'There is simply too much to watch, read and absorb.' 'Just online consumption (news, entertainment, social media) in India was 2.5 hours a day in November 2024.' 'Add TV (just under 4 hours), other media, and the figure is closer to 7 to 8 hours a day for over one-third of Indians,' points out Vanita Kohli Khandekar.
Prime Minister Rishi Sunak on Wednesday held his first Cabinet meeting with the new team as he prepares for his debut at Prime Minister's Questions, the first big test of Britain's Indian-origin premier's leadership.
There have been growing calls for President Rajapaksa's resignation over the past few weeks over his government's mishandling of Sri Lanka's worsening economic crisis.
Gandhi said Modi's top priority now is to get his Speaker in Parliament and is not bothered about NEET .
Latest Messi tribute in Argentina recycles the joy from icon's big win
Why did the political system in the country react to these two decisions of the Modi government in a diametrically opposite manner? asks A K Bhattacharya.
The southern deep-sea port of Hambantota is considered strategically important for its location.
Making a case for an optimal fiscal stance, the Economic Survey on Friday said growth leads to debt sustainability and not necessarily vice-versa. "This is because debt sustainability depends on the 'Interest Rate Growth Rate Differential' (IRGD) i.e. the difference between the interest rate and the growth rate in an economy. "With the Indian context of potential high growth, the interest rate on debt paid by the Indian government has been less than India's growth rate by norm, not by exception," it said.
The violence occurred following reports on Monday that Mahinda Rajapksa may offer to stand down as Prime Minister.
Anti-government protesters in Sri Lanka on Tuesday set up a checkpoint on the road leading to the Bandaranaike International Airport in Colombo to prevent the Rajapaksa family loyalists from fleeing the country, as violence and widespread protest continued against the regime over the country's worst economic crisis in decades.
Angry protests in Colombo as Sri Lanka grapples with its worst ever economic crisis.
India is trying hard to erase Indonesia's wariness about New Delhi, building security cooperation in the Indian Ocean and Pacific Ocean. If Indonesia decides to buy the Brahmos missile, it would further strengthen relations between the world's most populous nation and the most populous Islamic country.
The United Kingdom extracted USD 64.82 trillion from India over a century of colonialism between 1765 and 1900 and USD 33.8 trillion of this went to the richest 10 per cent -- enough money to carpet London in notes of 50 British pound almost four times over.
Watch all the action from both House of the Parliament.
Top management should tighten its belt before it starts asking others to do so.
The WEF said its annual meeting is taking place at a time when multiple crises have deepened divisions and fragmented the geopolitical landscape.
The 73-year-old United National Party was appointed as the prime minister by President Gotabaya Rajapaksa after they held closed-door discussions on Wednesday.
The move is aimed at preventing masses from gathering in Colombo to protest the government's failure to provide relief to the public suffering from shortages of food, essentials, fuel and medicine amidst hours-long power cuts, the Colombo Page newspaper reported.
The global economic crisis of 2008-09 has triggered much soul searching in the economics profession. How come only a few economists saw it coming? Was it because the profession was blind to the very possibility of catastrophic failures in a market economy, as Nobel laureate Paul Krugman put it?
Sri Lanka is facing its worst economic crisis since gaining independence from the UK in 1948.
The plunging global economy is an even bigger threat to the United States' national security than the al Qaeda terrorist network or proliferation of weapons of mass destruction, according to America's new intelligence czar.Traditionally, US intelligence chiefs always preface their opening remarks with either terrorist or nuclear proliferation threats, but DenisBlair's first sentences in his testimony before the US Senate Select Committee on Intelligence was about the economy.
Sri Lankans queued up to apply for fresh passports outside the department of immigration and emigration office in Colombo.
Sri Lankan Prime Minister Mahinda Rajapaksa resigned on Monday, hours after his supporters attacked anti-government protesters outside embattled President Gotabaya Rajapaksa's office, leaving at least 78 people injured and prompting authorities to impose a nationwide curfew and deploy army troops in the capital.
According to analysts, everyone across the globe has learnt several important lessons from the financial turmoil during the past year or two, which has made them highly risk averse.
'During his stint as prime minister, he got 270 million people out of poverty.' 'This, according to the World Bank, is the fastest compression of poverty anywhere in the world.' Arvind Mayaram, the former finance secretary, recalls his encounters with Dr Manmohan Singh.
Obama has been talking with the world leaders in the past few weeks in this regard, and this would be his agenda at the upcoming G-20 summit at London next month, which among others would also be attended by the Indian Prime Minister Manmohan Singh.
As the momentum for upcoming G-20 Summit in London gains ground, the White House has said that world should act together to prevent reoccurrence of the global economic downturn being experienced now.
Many were hoping that with Vajpayee's NDA gone, there would be a return to the Congress normal. Nobody was prepared for the opposite. Sonia Gandhi was sceptical. This became the only issue over which Manmohan Singh took on his party bosses and risked his government. Politically, it was riskier than the 1991 reform, recalls Shekhar Gupta.
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