Indian corporate gifting companies are set to laugh all the way to the bank this New Year.
The first-ever meeting of Labour Ministers from G-20 countries, including India, that began here on Wednesday has stressed on the need to create new jobs and preservation of the existing ones as the working class across the globe are among most hit by the current global economic crisis.
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.
During the meeting with President Barack Obama, Singh said, there was a need to "rewrite" the architecture of global economic system in which the G-20 could play an important role.
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.
Addressing the Congress Parliamentary Party meeting in Parliament House, she also attacked the governor of the state, Bhagat Singh Koshyari, saying he had acted in an "unprecedented and reprehensible manner".
The development model, which they have followed for the past several decades, has failed to substantially reduce poverty and achieve long-term growth, the report released by the UN Conference of Trade and Development, said. LDCs are particularly vulnerable to the current crisis because they have small economies and are so dependent on international trade, capital flows and finance, it said.
A whitepaper released by the Chinese government gave a lengthy explanation to refute the allegations of cover up and delay by Beijing on reporting the COVID-19 outbreak last year in Wuhan. United States President Donald Trump and leaders of several countries have accused China of not being transparent in reporting the deadly disease, leading to huge human casualties and economic crisis across the world.
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.
In an interview with Business Standard, Jalan, who has also been a member of the Rajya Sabha, speaks on a wide range of issues concerning the markets
According to a survey, the banking sector emerged as biggest job generator in the first quarter of the current fiscal with the segment increasing headcount by more than 16,000.
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.
Eyeing more than nine per cent growth rate for Indian economy, Prime Minister Manmohan Singh on Monday said exciting opportunities await India and Canada for mutual cooperation to raise their bilateral trade three-fold to $15 billion within the next five years.
During this period, employment increased in almost all sectors except transport, which saw a marginal decline, according to the Labour Bureau, under the labour and employment ministry.
Projecting the Congress as the hope for the people's future, Prime Minister Manmohan Singh on Sunday said his government has worked for betterment of millions, ensured inclusive growth despite a global economic crisis and responded "purposively" and with "speed" to terror attacks.
According to the Daily Express, a recruitment freeze is also under consideration at the Buckingham Palace where the total staff numbers have risen by 15 to 300 in a decade. Staff leaving are unlikely to be replaced.
This year's Budget has come at a time when the economy had just begun to recover from the impact of an unprecedented global economic crisis.
This comes in the backdrop of declining demand from traditional export markets like the US and Europe due to the ongoing global economic crisis. The increase in allocation to MDA and MAI would be mainly towards developing nations like Brazil and South Africa.
Gold is currently trading at Rs 25,200 for 10 grams.
Declaring India's readiness to contribute to global efforts to overcome the economic crisis, Prime Minister Manmohan Singh arrived in Yekaterinburg on Monday night to attend the Summits of Shanghai Cooperation Organisation and Brazil-Russia-India-China.
In a time of tight credit, the facility will support grants to bank and non-bank institutions for activities to increase access to financial services, such as savings, credit, payments and insurance, in rural areas in developing countries as profitable business lines, the World Bank said.
Global wealth staged a remarkable comeback in 2009, increasing by 11.5 percent to $111.5 trillion, just short of the year-end peak set in 2007.
Given that debt is a major problem for most airlines, investors with a medium-term horizon should look at them.
Infosys has officially announced offering its clients new engagement models including outcome based pricing and transaction based pricing. According to a senior company executive, the clients accepting these models as they ask for 'no immediate pay-out of cash' and 'pay money per transaction basis.' These models can also be helpful for the clients to deal with the demand fluctuations and effectively manage their budgets.
Driven by strong local demand, Indian health care market is expected to continue growing close to previously projected rates of 10 to 12 per cent, McKinsey said in its report 'New Opportunities for US-India Biopharma and Healthcare Collaboration'.
The forecast comes on top of an estimated 7.2 per cent growth in 2009-10, the year that saw India weather the effects of the global economic crisis.
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.
The cost cutting measures taken by companies to tackle economic crisis, have sharply eroded morale and commitment of their employees, especially of the top performers, a study by Watson Wyatt says.
The Indian economy has emerged almost unscathed from the global economic crisis that has ravaged many nations, said Union Minister of Surface Transport Kamal Nath on Tuesday.
As the Wall Street companies have begun generating profits and dolling out hefty bonuses to its executives, US President Barack Obama said that America now wants its money back which was spent to rescue these firms from economic crisis.
India's Finance Minister Pranab Mukherjee will arrive in London on Thursday to participate in the two-day G20 Finance Ministers' and Bank Governors' meeting commencing on Friday to discuss the financial crisis.
"In 2009, consumers will spend 2 per cent more on products in the audio/video, photography, IT and telecommunications segments, with total global expenditure for the year as a whole forecast at 494 billion euros ($706 billion)," the survey said.
India's pay-television industry, a magnet for foreign investors for the past two years, is facing a shake-out amid intense competition during the economic crisis.
There is little doubt that the global economic crisis has worsened Indias growth prospects, but the slowdown began long before the US financial meltdown began.
"Despite the global economic crisis, we grew by 6.7 per cent last year...This year, we are getting mixed signal," Mukherjee said, while noting that indicators are coming good from industrial production data and in terms of business demand and investor confidence.
Russia has overcome recession but this does not mean that economic crisis in the country is over, Prime Minister Vladimir Putin said on Tuesday.
The five-year Foreign Trade Policy, to be unveiled on August 27, is expected to give incentives to Indian exporters to widen their global markets beyond the United States, the European Union and Japan in the face of the economic crisis in these key destinations.
The push for Citi to enlist external help, is led by the Federal Deposit Insurance Corporation and backed by other regulators, underlines authorities' desire to keep Citi's upper echelons on a tight leash after rescuing bank with $45 billion, the report noted.
The joint report by UN Economic Commission for Europe and the UN Food and Agriculture Organisation released on Tuesday said that consumption, production and trade of forest products reached record highs in 2006, with a slight downturn registered in 2007. That decline accelerated in 2008, marking the sharpest drop since the first oil shock of 1973, and continued into the first half of this year, it said.
The imports may recover faster, thnaks to a strong demand. "As global prospects are now improving, especially with the US economic contraction easing, India's exports may begin to recover later in the year," Moody's said in a statement.
