Former Petroleum Minister Ram Naik has flayed the UPA government lowering prices of Aviation Turbine Fuel (ATF), saying India is the only country where ATF is cheaper than petrol.
There was a time when thresholds meant something. The Dow Jones average sinking below 8,000 must mean the bottom is near. The S&P 500 falling 50 percent from its high must signal the end of the freefall.
Realty industry body National Real Estate Development Council today asked its members to cut rates on housing projects by up to 15 per cent to revive sales.<br>
Amid plunging stock price, executives at troubled banking firm Citigroup are mulling the possibility of auctioning off all or parts of the financial giant, says a media report.
Singapore's economy has skidded into a recession for the first time since 2001, the government said on Friday, warning that it could contract by up to 1 percent next year as a global slowdown saps export demand.
India will sustain a growth rate of eight per cent despite the adverse impact of the global financial crisis, Prime Minister Manmohan Singh said today.
Japan's central bank kept its already low interest rates on hold on Friday but warned of a prolonged economic slump at home and abroad.
Oil prices fell to a 3-year low below $49 a barrel on Friday in Asia as plunging stock markets, driven down by more bad US economic news, battered investor confidence.<br>
The Indian rupee fell by 30 paise against the US currency to Rs 50.50 in early trade today on heavy outflows of foreign funds amid melting Asian equity markets.<br>
Oil prices plunged over $3 on Thursday, briefly dipping below $50 a barrel as 16-year high US unemployment figures and plummeting stock markets caused investors to price in lower crude demand.
Citigroup's South Asia chief Sanjay Nayar has decided to leave the firm and join private equity firm Kohlberg Kravis Roberts & Co's Indian unit. Nayar has been associated with the group for nearly 23 years.
The government may not admit it but experts say layoffs in India are becoming a reality. Companies who are not ready to hand pink slips to their employees yet are grappling with different ways of cost cutting. <br>
