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Newsletter | Saturday, April 4, 2009
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Top News
China and Brazil have left India way behind in promoting trade ties with Canada as the world's ninth largest economy tries to reduce its economic dependence on the US.
US employers slashed another 663,000 jobs in March raising the unemployment rate to 8.5 per cent, a 25-year high, and swelling the number of jobs lost to 5.1 million since the beginning of 2008.
India's flagship carrier Air India will phase out 47 Airbus A320 planes, largely used for domestic operations, by the end of the current fiscal, a top official said on Friday.
With a $104 million pay packet in 2008, mobile phone maker Motorola's India-born chief Sanjay Jha has emerged America's top paid CEO, while Citigroup's Vikram Pandit tops the league among bailed out banks.
Acquisitions & Mergers
ICRA subsidiary acquires US-based IT firm for $1 million
Wipro bags Rs.11.8 bn outsourcing deal
Sterlite to buy US copper mining firm for $1.7 bn
US economy worsened since January: Federal Reserve
More >>
Aviation
AI to phase out 47 Airbus planes by March 2010
Bombardier joins Boeing in cutting 3,000 jobs
Air Canada CEO quits as airline faces bankruptcy
AI to launch Delhi-Chicago flight from March 29
More >>
Banking
Signs of economic recovery, says top Canadian bank CEO
Citi's Pandit made $10.8 mn in 2008
Citigroup shares rise as Pandit touts 'profit' in 2009
Yes Bank plans expansion
More >>
IT
Net rip-offs cause $265mn loss, Indians 5th largest victims
Buying used Macs in tough economic times
Now IBM axing jobs in Canada
Teenage whiz-kid hacker gets a straight job
More >>
Markets
Sensex crosses 10,000-mark in India
Indian markets slip further into the red
Indian markets open higher, Sensex up by 1.42%
Markets open higher, Sensex up 1.25 per cent
More >>
More News
Assured a greater say into the affairs of multilateral lending institutions, India will seek additional assistance of $5.2 billion from the World Bank for its financial sector and infrastructure projects, officials said.
Going to the doctor could become a thing of the past for many people if the telemedicine plans by Intel and General Electric (GE) come to fruition.
The G20 summit which concluded here Thursday would be "a turning point" for the global economy, as unprecedented and comprehensive steps were taken to improve the financial system, US President Barack Obama said.
Canadian plane maker Bombardier, which is the third largest aircraft company in the world, Thursday joined giant Boeing in axing 3,000 jobs worldwide citing sagging demand for its business jets.
The International Monetary Fund (IMF) will launch a donor-supported trust fund to finance technical assistance in Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT).
Indian equities markets opened in the green on Thursday, with a key index trading about 3.44 per cent higher its last closing figure to go past the psychologically important 10,000-mark.
Violent anti-globalisation protests overshadowed the Group of 20 (G20) summit Wednesday in London as campaigners vandalised banks and clashed with heavily armed riot police.
The Sun-Times Media Group Inc, owner of the Chicago Sun Times and more than 50 other US newspapers, filed for bankruptcy protection on Tuesday as it became the latest casualty of the advertising slump that is wreaking havoc throughout the newspaper industry.
President Barack Obama is more popular than his policies on the economy, suggest two new national polls that also indicate that Americans are becoming more confident about the economy.
As the global economy deteriorates sharply, the World Bank has projected a slower 4 per cent growth for India in 2009, down from 5.5 per cent in 2008, before picking up speed to reach 7 per cent in 2010.
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