Addressing reporters on the occasion of release of G-20 Surveillance Note in Washington on Thursday, senior IMF officials, however, emphasised that the world body expects advanced countries to turn around and grow at a moderate pace in 2010.
Responding to questions about the economic crisis in the United States, the prime minister said: "There is a temporary setback and temporary questioning, about relevance of the American model, but I have seen these things much before."
Nitish Mittersain, founder of Nazara Technologies, is among the few entrepreneurs who have remained unflappable in the current economic crisis. Having set up Nazara, a mobile entertainment company, right at the time of the dotcom bust, Mittersain claims to have sufficient experience to withstand this financial downturn too.
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.
Asked whether the improvement in the index of industrial production data, released today, indicates that the worst is over for industry, Ahluwalia said, "We do believe that the worst is over. (But) there is difference between the worst being over and getting back to robust growth.
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'.
Queen Elizabeth II's staff at Buckingham Palace has signed up with Toyota's 'Green Tomato Cars' to cut costs, after they found out about the car from Prince Charles's London office, which switched to its cheaper carbon-efficient Toyota Prius fleet. "They were very conscious of the savings they'd be making both in financial and carbon terms. Cost was certainly a major factor, so much so in fact that Clarence House negotiated a discount," said Tom Pakenham, director, Toyota.
Chief Minister MK Stalin has shown that he is cut from a different cloth when it comes to embracing what is current, modern and absolutely necessary. Thus, even while retaining the spirit and content of the pan-Tamil, Dravidian socio-political and socio-economic ideology to the 't', his government has also acknowledged the need to accepting scientifically-proven facts in operational matters, says N Sathiya Moorthy.
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.
The top 10 failed states in the 2009 list are: Somalia, Zimbabwe, Sudan, Chad, Democratic Republic of Congo, Iraq, Afghanistan, Central African Republic, Guinea and Pakistan.
Pakistan, plagued by insurgency and the worst-ever economic crisis, has been named among the "top 10 failed states" by the US-based reputed Foreign Policy journal. Pakistan, bracketed along with countries like Somalia, Afghanistan and Sudan, has improved its position only by a notch -- it is placed 10th in the index for 2009 published in the July-August issue of the magazine.
Barack Obama warned Americans on Monday that economic crisis could turn into catastrophe if the federal government does not take decisive action to create jobs and stabilise the financial sector.
As Republican and Democratic lawmakers scramble to sort out their sharp differences over the mega economic stimulus package, US President Barack Obama has said the country desperately needs it and a failure will turn the economic crisis into a catastrophe.
President Barack Obama warned that if the American Recovery and Reinvestment Act is not signed into law quickly, the economic crisis will be turn into a catastrophe. "Millions more Americans will lose their jobs. Home will be lost. Families will go without health care. Our crippling dependence on foreign oil will continue. That is the price of inaction," he said.
Surjewala said the party's 10-day agitation was formalised at a meeting in which Rahul Gandhi participated in, but neither he nor Sonia Gandhi would be participating in the state and district level programmes.
The world is going to see a new economic reality, which may not be as attractive as that of the heady years of unprecedented growth.
The global economic crisis could lead to a new "green industrial revolution," but developing countries will need strong support to ensure they do not miss the opportunity, the United Nations Industrial Development Organistion (UNIDO) said on Friday.
Barack Obama's inauguration festivities started off on Sunday morning with a star-studded concert and a motivational speech by the United States President-Elect at the Lincoln Memorial in Washington. Thousands of supporters turned up to witness the 'We are One' inaugural celebration in spite of the bitter cold. Eminent musicians including U2, Stevie Wonder, Beyonce Knowles and Shakira performed at the event.
The danger today, he said, is no longer, fortunately, one of a collapsing world economy. The danger today is one of complacency.
The Business Process Outsourcing companies in India appear to be handling the impact of the global economic crisis much better than IT firms
The G-20 leaders at their last meeting at London had asked Lamy to explore ways to improve the political engagements for resolving differences on the much-delayed Doha Round of negotiations, which were meant to culminate into a multilateral trade liberalising agreement in 2005.
The 2009 BRIC Services Business Outlook survey by global consultancy KPMG signals an improvement in confidence in April after a sharp drop seen in October, 2008, amid the economic crisis. The BRIC Business Outlook Survey shows that India's service sector is set to grow solidly in proceeding 12 months. A net balance of 31.1 firms foresee their activity levels expanding, up from 15.3 last autumn to 60.3, it stated.
Hyderabad-based Indian School of Business (ISB) is off to a flying start this season. Citi Group has offered an analyst investment banker's position with so far the highest offer of Rs 40 lakh per annum, followed by a Rs 33-lakh offer by Parthenon Group, a consulting firm.
In an interview Wisden editor Scyld Berry said consolidating the importance of Test cricket, the longest and ultimately most satisfying form of the game, was paramount.
There are 'troubling similarities' between US President Barack Obama's financial actions with those of policymakers during the Great Depression in 1930's, a new study has claimed, warning the country's policies might have the potential to consign it to a similar fate as Argentina.
The effort made to define the larger picture by focussing on history and the wish not turn differences into disputes and conflicts is welcome. In the obtaining circumstances today, nothing more could have been possible, observes Ambassador T P Sreenivasan.
"We can no longer rely on the US consumer to sustain global growth. We need multiple poles of growth," Zoellick told reporters at a news conference in Beijing.
Never allow financial capital to dominate over the real economy.
Mark-to-market risks to the Indian banking sector are limited and manageable, says RBI
US President Barack Obama has unveiled a $13 billion plan to develop a nationwide high speed rail network, which he argued "will be faster, cheaper and easier than building more freeways or adding to an already overburdened aviation system".
Hardeep Singh Puri, currently secretary in the Ministry of External Affairs, has been appointed Permanent Representative of India to the United Nations. He will succeed Nirupam Sen, whose term ended on March 31. The Ministry of External Affairs stated that Puri was expected to take up his assignment shortly in New York. Puri, 57, a 1974-batch Indian Foreign Services officer, is known for his expertise on economic issues, especially on World Trade Organisation-related matters.
Frank Wisner, former American envoy to India, worried that the US may become protectionist if the economic crisis continues
United States President-elect Barack Obama on Monday officially unveiled the economic team that will assist him in tackling what he termed 'an economic crisis of historic proportions'.Obama has named New York Federal Reserve President Tim Geithner as US Treasury Secretary and former Treasury Secretary Larry Summers as chief of the National Economic Council.
Companies that made expensive overseas acquisitions lead the way in driving cost efficiencies.
Congress president Sonia Gandhi on Friday invoked her mother-in-law Indira Gandhi to send a message that but for the former prime minister's 'much reviled' bank nationalisation four decades back the country's financial institutions would have been hit by the current global economic crisis. "Every passing day bears out the wisdom of that decision (bank nationalisation in 1969)," Gandhi said in her address at the Hindustan Times Leadership Summit.
"I feel governments still see bull markets as good, and bear markets as bad but excessive bull markets create bear markets, and only timely intervention can help overcome the crisis," says R Subramanian, managing director, Subhiksha, one of the largest retail chains in India.
He said it is evident that the crisis has touched all segments of the economy and the society and that it 'could assume the proportions of an economic emergency unless it is handled with determination, clarity of thought and creative new approaches'.
The affected lawyers, once considered an 'elite group' among their peers across courts in the state during the peak period of the real estate boom are no longer the envy of their fraternity. Noted civil advocate C Ravindran said four years back, a lawyer used to charge clients who wished to register land, about one per cent of the total land value.
Seeking to reform the failed regulatory systems and put an end to "bubble and bust economy", US President Barack Obama said that G-20 has rejected protectionism and America was also dedicated to forging consensus rather than dictating its own terms.
