The world's finance ministers and central bank heads have voiced a collective hope that the worst of a devastating global recession might be over, but were apparently divided over how much longer governments should run huge budget deficits to fin ..

Notwithstanding several challenges, the Indian economy remains resilient and is expected to grow at around 6 percent in 2009-10 with fiscal and monetary stimulus measures cushioning the downturn, global finance leaders were told here Saturday."O ..

As the world grapples with the deepest recession since World War II, India has sought greater voice and representation for emerging and developing economies in a key international institution charged with leading the recovery efforts.Noting that the  ..

The re-launch of multilateral trade negotiations that has the potential to lift the recession-hit global economy when successful, is not possible till the US shows willingness, the chief of the World Trade Organisation (WTO) has said."I cannot r ..

ICICI Bank, India's largest in the private sector, has reported a 9.6 percent drop in net profit after tax at Rs.3,758 crore ($741 million) for the year ended March 31, against Rs.4,158 crore ($820 million) for the year before.The bank's boar ..

Unhappy with the performance of state-run carrier Air India, the government has decided to appoint an interim chairman and managing director for the carrier in place of incumbent Raghu Menon, officials said.A simultaneous talent search has also been  ..

Banks in Kerala have posted a marginal growth of 6.3 percent in advances from Rs.80,131 crore in June 2008 to Rs.85,174 crore as on Dec 31, according to the State Level Bankers Committee (SLBC).The SLBC in a meeting here said loans given to the educa ..

The revenue-sharing tussle between producers and multiplexes has cost the owners of movie theatres dear. With no big releases and the Indian Premier League (IPL) fever on, multiplexes are incurring 50 percent losses due to low footfalls."The bus ..

The widening global financial crisis has created a development emergency, preventing many countries from achieving targets on reducing hunger, child mortality and major diseases, the International Monetary Fund (IMF)and World Bank have warned in a re ..

Finance leaders from the world's top seven industrialised nations have pledged to cooperate on efforts to lift the global economy out of its worst recession since the 1930s even as they suggested the worst phase may be over."Recent data sugg ..

Major US stock indices rose Friday amid a second day of company earnings that beat analysts' estimates, but the rally to end the week was not enough to continue six straight weeks of gains.Ford Motor Co reported a smaller-than-expected $1.4-billi ..

Apple has fired some 1,600 employees from its chain of retail stores due to slackening consumer demand, the Wall Street Journal reported Friday.The job cuts were referenced in a securities filing by Apple Thursday in which the company said it had 14, ..

West Bengal Chief Minister Buddhadeb Bhattacharjee Friday said a factory to be built on the land in Singur that Tata Motors had abandoned would "generate more employment" than the Nano project and that a decision on this would be taken afte ..

Unmesh Brahme, an Indian corporate sustainability strategist for one of the largest international banks, has been named as one of 15 Yale World Fellows for this year.A Yale University announcement Friday described Brahme, Senior Vice President (Corpo ..

Eight of India's leading scientists were Friday honoured with Thomson Reuters Research Excellence - India Research Front Awards for their groundbreaking work and influential contribution to global research and development.The eight awardees were  ..

Two US senators have introduced a bill to make it tougher for American firms to employ foreign professionals under its H-1B and L1 visa programmes utilised the most by Indians and the Chinese.The bill introduced by Senators Chuck Grassley and Mr. Dur ..

The Punjab government has released over Rs.85 billion as payment to farmers for wheat procurement, considered one of the largest such exercise in the world."The procurement process is going on quite smoothly. Over 87 lakh tonnes of wheat have be ..

Lilavati Hospital in Mumbai spent $12,000 once to upgrade its electricity system, and is saving $17,000 a year on power bills. Many firms don't even have to pay any money upfront. They just save on the power bill, and pay a percentage of that sav ..

US-based talent management firm Global Crosswalk Inc (GCI), co-founded by two Indian expatriates, has set shop in India's IT hub to help companies develop global workforce for providing value-added/knowledge-based services."We offer niche so ..

Despite the global slowdown and recession in Europe and the US, India expects at least $40 billion as foreign direct investment (FDI) in the current fiscal, a senior industry ministry official said here Friday."The overall outlook for foreign in ..