World economy
'Green shoots' of UK recovery: fact or mirage?
By By Jagdeep Worah | 17 Jan 2009
UN forecast adds to economic gloom
17 Jan 2009
A new UN report says the global economy could contract by 0.4 per cent, — the first gloal contraction since the Great Depression of the 1930s. By Jagdeep Worah
European Central Bank cuts key rate by 50 bps to 2.00 per cent
15 Jan 2009
The European Central Bank has announced a cut its key refinancing rate for banks by 50 basis points to 2.00 per cent amidst a deepening recession
UK unveils £20 billion scheme for small firms
15 Jan 2009
Google cuts down on staff and operations
15 Jan 2009
The current economic slowdown is hurting even behemoths like Google,which has been forced to axe a quarter of its recruitment staff.
No end in sight to recession, warns Fed
15 Jan 2009
China displaces Germany as world’s third largest economy
14 Jan 2009
China has surpassed Germany to become the world's third largest behind the US and Japan.
IT outsourcing from China growing at 20-40 per cent: report
14 Jan 2009
According to a McKinsey & Co report IT outsourcing grew betwen 20 and 40 per cent in 2008 despite a 39 per cent slowdown in global offshoring
Russia, EU reach deal on resuming gas supplies to Europe
10 Jan 2009
Russia and the EU have reached an agreement on monitoring gas supplies through Ukraine, setting stage for resumption of supplies to Europe.
Bush’s $700-billion bailout criticised by Congressional panel
10 Jan 2009
The spending by the US government’s Troubled Asset Relief Program (TARP) faces trenchant criticism from a Congressional oversight panel
Illinois lawmakers vote overwhelmingly to impeach tainted governor
10 Jan 2009
Lawmakers from the US state of Illinois yesterday voted 114-1 to impeach disgraced governor Rod Blagojevich on corruption charges.
Massive layoffs rumoured at IBM
10 Jan 2009
IBM is reported to have informed the Securities Exchange Commission that it's workforce by 16,000 - the largest in its century-plus history
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