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.
'The Swedish government would consider who will live, who will not die, in rationing coronavirus healthcare!' 'This means the 'biological age' would supersede the patient's chronological age as a potential guideline,' notes Ambassador M K Bhadrakumar
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.
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'.
US President Barack Obama has invited leaders of top 20 economies to meet at Pittsburg in Pennsylvania.
Concerned over protectionist steps taken by some countries in the wake of economic crisis, India will press the world's developed countries at the upcoming G-20 Summit to desist from trade barriers and ensure that flow of funds for development do not suffer.
It is apparent that an easing of tensions at the border and a disengagement of troops is on the cards, observes Ambassador M K Bhadrakumar.
Stating that the global financial crisis threatens the livelihoods of nearly 1.4 billion people globally, a United Nations agency has asked the G-20 leaders to commit themselves to save the world poor from the adverse impact of the downturn.
The latest estimates of global hunger, released by the UN Food and Agriculture Organisation (FAO), have projected the number of people going hungry every day to swell to the historic high of 1.02 billion in 2009. Almost all of them, barring a small fraction, will be in the developing countries.
The theme for this year parliamentary hearing is to chart out methods of dealing with the global economic crisis.
People everywhere, consumers and investors alike, are cancelling spending plans, because the world economy seems very risky right now. The same thing happened during the Great Depression of the 1930s.
US President Barack Obama will meet UN Secretary General Ban Ki-moon next week in Washington to discuss a host of issues, including the global economic crisis, Sudan conflict and situation in Afghanistan and West Asia
WFP is calling for further support to alleviate world hunger, as the G-8 summit gathers this week in L'Aquila, Italy, to discuss the global food security crisis, UN spokeswoman, Michele Montas, told reporters at the United Nations headquarters in New York on Tuesday.
Prime Minister Manmohan Singh on Thursday expressed confidence that India would emerge the least affected country of the world from the current global economic meltdown.
Though the exact number of people who have returned is not available, there are reports which indicate that between 16,000 to 20,000 Indians have come back here after the economic slowdown, Overseas Indian Affairs Minister Vyalar Ravi told the Rajya Sabha during Question Hour.
More than 600,000 Indians, many employed in the gems and jewellery sector, lost jobs in just four months from October 2008 as the impact of the global economic crisis hit the country's shores.
The civil list, which pays for the running of the royal household, has not increased in the last 20 years. At the moment, any request for an increase in funds would be difficult to tackle as the UK is suffering from the global economic crisis. The queen has raided the reserve fund by pound 6 million to supplement the civil list. If she continues to draw on reserve funds at the current rate, she will run out of funds by the start of 2012.
The green signal would pave the way for additional funds to the IMF and reforms related to the country representation at the multilateral lending agency, among others. The IMF would get more funding to tackle the global crisis under an expanded borrowing arrangement. The US has committed to increase its credit line by up to $100 billion.
The global economic crisis has left over half of the Australians worried about their jobs, with one in three planning to acquire further training and education to make themselves more employable, a study has said.
Global unemployment in 2009 could increase over 2007 by a range of 18 million to 30 million workers, and more than 50 million with the situation likely to deteriorate, the International Labour Organization said in its annual Global Employment Trends report released on Wednesday. Based on new developments in the labour market, the report said some 200 million workers, mostly in developing economies, could be pushed into extreme poverty if the situation worsened.
Real estate, it is said, is heading south as direct fallout of the global economic crisis. Naturally, therefore, there has been a decline in rentals and Mumbai, known to be the most expensive city of India, has become lesser expensive for office space. However, the city remains at the sixth position among the world's costliest office markets, a report has said.
Announcing measures to tackle the impact of the global recession in his country, South African President Jacob Zuma pledged on Wednesday to create 500,000 jobs by the end of this year. Acknowledging that the economic crisis had hit the nation badly, Zuma said the government needed to minimise the impact of the recession primarily on the most vulnerable sectors.
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The United States will host the next G-20 Summit on September 24 and 25 in Pittsburgh, Pennsylvania, in which global powers, including India, will participate, the White House announced on Friday.
Meera Shankar, Indian Ambassador to the United States, informed that India has convened a ministerial meeting in September in New Delhi to see how we can bring the Doha Round back on track and as a follow up to that meeting experts were expected to meet in October in Geneva.
US President Barack Obama, on Friday, sought a new era of engagement with the world where power is no longer a "zero-sum game" as he asked them to share responsibility for tackling key challenges of security and prosperity.
In his last formal news conference before demitting the White House on January 20 after a turbulent two-term presidency, Bush rejected critisism of his "war on terror" tactics and his policy on Iraq and on the economic crisis facing the nation.
A quarterly index on jobs created is vital for policy action.
G20 finance ministers meet in London on Friday to chart the next steps out of the global economic crisis, with calls to curb bankers' bonuses as part of beefed-up financial market rules topping the agenda.
Speaking on the inaugural session of the 22nd Industrial India Trade Fair, Bhattacharya said, "We are in a grave economic crisis and developed countries of US and economies of EU are in doldrums and nobody knows when the situation will stabilise.
Terming terror infrastructure in Pakistan as the 'greatest danger' to the entire world, India on Monday said efforts made by the international community to deal with the situation are 'not enough' and that New Delhi will use 'all measures' necessary to tackle the problem.
With countries like the US restricting hiring of foreign workers on H-1B work visas, the UN Secretary-General Ban Ki-moon on Tuesday opposed imposition of restrictions on international migration.
Ferrari have bucked the global economic crisis squeezing Formula One by agreeing a sponsorship deal with carmaker Tata.
Fuji Heavy Industries, the maker of Subaru cars, said on Tuesday it would pull out of the world rally championship citing the global economic crisis. Subaru joins fellow Japanese automaker Suzuki Motor, which announced its exit a day earlier, and leaves no other Japanese automaker left in the race.
RBI chief banks on 'significant measures' to battle a 'significant crisis'.
Barack Obama's priority would be stabilising his country's economy by cutting cost and he would not be able to achieve that without outsourcing.
The US Fed has also retained its benchmark rates for the Federal funds in the range of zero to 0.25 per cent, as part of its efforts to help in boosting the economy. After its two-day monetary policy meeting, which ended on Wednesday, the Fed said that 'economic activity is leveling out'.
The 2010 batch of IIML has the 'unique' feature of having 92 per cent students with work experience and a number of them exhibited great enthusiasm for working with start-ups and utilising their experience to help guide these budding organisations to success, IIM sources said. Student placement coordinator Shashank Mehta said the students here had experience which start-ups value and all the projects there would be live projects.
In a pep talk to the captains of the industry, US President-elect Barack Obama on Tuesday censured Wall Street executives and CEOs of Detroit's 'Big Three' automakers as "tone deaf" for squandering public funds amid the economic crisis and promised to return to "the ethic of responsibility".
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