The unemployment rate in the OECD region, comprising mostly developed nations, slipped to 8.6 per cent in May, while the count of jobless people in the area stood at 45.9 million during the same month.
Geithner said during their discussions this week, in Singapore and China, US President Barack Obama emphasised that the US and China must be at the centre of efforts to put the global economy on a more sustainable and balanced growth path.
"The unemployment rate for the OECD area was 8.6 per cent in September 2009, the same as the previous month and 2.3 percentage points higher than a year earlier."
The pact on trade in goods under the Comprehensive Economic Cooperation Agreement was signed by Indian commerce and industry minister Anand Sharma and ASEAN economic ministers after more than six years of intense negotiations.
With emerging economies facing the possibility of "abrupt slowdowns", India's Gross Domestic Product growth rate could slip to as low as 4.3 per cent in 2009, said the OECD.
The new tranche of funding raises Ola's valuation to $5.74 billion from $4.45 billion in October 2017
Presidential spokesperson Farhatullah Babar contradicted media reports about Zardari going to Dubai from Tehran, where he is participating in a summit of the Economic Cooperation Organisation, instead of returning to Islamabad. "The reports of his staying in Dubai and postponing his return to Islamabad are absolutely false, mischievous and seem deliberately designed to cause confusion," Babar said in a statement.
The G-20's new-found importance should be used to challenge North Atlantic hegemony.
With the signing of the pact, the Quad grouping of India, Japan, Australia and the US is set to gain more heft now, notes Dr Rajaram Panda.
The OECD, in March, projected 4.3 per cent economic expansion for India in 2009. The report further said the extent of the deterioration in the fiscal position prior to the slowdown has reduced the scope for 'discretionary fiscal policy action'.
At least 32 Indian fishermen were arrested by the Sri Lankan navy for allegedly poaching in the country's waters off the coast of the Delft islet in Jaffna.
A feasibility study on the proposed Free Trade Agreement, officially known as the Comprehensive Economic Cooperation Agreement, has long been finalised but cannot be acted upon in the absence of Russia joining the WTO.
Former United States President Bill Clinton had escaped an assassination bid by terrorists controlled by Osama bin Laden in Phillipines, according to a new book. He was saved shortly before his car was due to drive over a bridge in Manila where a bomb was planted. The foiled attack came during Clinton's visit to the Asia Pacific Economic Cooperation forum in the city in 1996. The details have been revealed in a new book.
At a time when crackdown on tax havens has acquired a political colour, data shows that Swiss banks held securities worth $3.35 trillion in 2008, with over half managed on behalf of foreign entities.
'Who are these people on the streets?' 'They are youth and students who were hoodwinked, bluffed by Modi for the last seven years, with a promise of 2 crore jobs every year.' 'And Mamata sings the same tune.' 'But the youth can see that as long as there is Mamata or Modi, there is no hope.'
Barack Hussein Obama's landslide victory in the US presidential poll on Tuesday will herald a new chapter in the country's international economic cooperation. His victory has dramatically raised expectations both at home and abroad.
China has emerged as the world's third largest investor as Foreign Direct Investment (FDI) from the Communist giant jumped by 17.6 per cent last year defying a global pattern.
Kim did not rule out diplomacy with the Biden administration despite that Pyongyang called Biden a 'rabid dog' after Biden labelled Kim a 'thug'.
India stands top among South Asian countries in pension coverage to its older people, according to a joint report by the World Bank and the Organisation for Economic Cooperation and Development.
The Paris-based Organization for Economic Cooperation and Development (OECD) said its composite leading indicators (CLIs) "for November 2008 point to deep slowdowns in the major seven economies and in major non-OECD member economies, particularly China, India".
The PM said that countries sponsoring, aiding and funding terrorism must be held accountable.
It feels worsening economic downturn will dent the internet economy. The only silver lining for the IT sector, which generates about $50 billion for Indian IT services companies, is the likely growth in the services and software sectors 'along with new internet and communications-related products and infrastructure, as they are an essential part of spending and partly recession-proof,' the OECD report said.
At a time when political parties are coming up with poll promises like job guarantees, OECD, a group of rich nations, has found that nine in 10 employees in India do not have a formal labour contract and social security benefits such as advance dismissal notices.
After six years of painstaking talks, the Comprehensive Economic Cooperation Agreement will be signed which will eliminate duties on 80 per cent of goods traded between the two over the next eight years. Commerce minister Anand Sharma, who is in Bangkok to sign the pact, said the agreement is well balanced and is in harmony with the India's Look East Policy.
Mauritius, country from where large amounts of investments are routed to India, figures among the nations that have substantially implemented tax standards. Among the countries that have committed themselves to the internationally agreed tax standards but have not yet implemented them are Singapore, Switzerland, Bahamas, Bermuda, British Virgin Islands, and Cayman islands.
Religious leaders come last, with corporations featuring slightly better
'Pakistan has robust incentive to turn heat on LoC.'
Projecting a whopping Rs 10,000 crore (Rs 100 billion) economic engagement with Bhutan in areas like telecom, infrastructure and education, Prime Minister Manmohan Singh on Saturday unveiled a mega plan for cooperation in the power sector.
Asian Development Bank to give $300 milion loan to India.
Brazil, Russia, India and China, also known as the BRIC group of countries, are expected to overtake the rich countries in primary energy consumption by 2030 and worsen their environmental calamities, Paris-based Organisation for Economic Cooperation and Development has warned. The OECD estimates suggest that 63 per cent population in the BRIC countries is living under medium to severe water stress and this share is expected to increase to 80 per cent by 2030.
Although countries like India and Brazil were not part of the just concluded Asia Pacific Economic Cooperation Forum, there is a commitment from leaders of the two nations to see the Doha Round modalities done by the end of this year, Dan Price, assistant to the President for International Economic Affairs, said in a briefing en route to Andrews Air Force Base at the conclusion of the APEC meeting in Peru.
The first meeting of Trade Negotiating Committee on signing a Comprehensive Economic Cooperation Agreement started in Kuala Lumpur.
India will grow at around 8 per cent this year and next, but the principal risk to this projection stems from the demand-led inflation that "would occur if the total Pay Commission award for government employees were to be paid out immediately," the Paris-based Organisation for Economic Cooperation has warned.Besides, "quick action to write off small farmers' debt would also add substantially to demand," the OECD indicated in its latest Economic Outlook.
"The increasing strategic connections between the US and India should progress to closer military coordination and cooperation," Cohen said.
Supporting the Finance Ministry's view that tax exemptions to the developers and units in SEZs are a drain on economy, the Organisation of Economic Cooperation and Development has asked the government to review tax exemptions in these areas.
Taking the currently operational India-Singapore Comprehensive Economic Cooperation Agreement (CECA) forward, the Union Cabinet on Friday approved tariff elimination as well as reduction in additional 555 products. This will benefit exporters from Singapore.
Not just from the likes of Alibaba and Didi Chuxing, Indian startups saw a surge in Chinese funding from financial investors in 2019. This is a seven-fold jump from $459 million in 2016.
India and Myanmar have signed a Double Taxation Avoidance Agreement (DTAA), which provides that business profits will be taxable in the source state. In the case of India, the DTAA will cover income tax and surcharge and in the case of Myanmar, income tax and profit tax. However the maximum rate of tax to be charged in the country of source will not exceed 5 per cent in the case of dividends & 10% in the case of interest and royalties. The deal also has anti-abuse provisions.
Brushing aside opposition from the Dravida Munetra Kazhagam and other parties in Tamil Nadu, Prime Minister Manmohan Singh on Tuesday met Sri Lankan President Mahinda Rajapaksa but did not give him any assurance on which way India will vote on a the United Nations Human Rights Council resolution for an independent international probe into rights abuses during the war with the Liberation Tigers of Tamil Eelam.
Hard to treat ties as normal unless Pak addresses terror issue effectively: India
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