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Havana, Jan 12 (IANS/EFE) Cuban Vice President Marino Murillo has said that a shortage of hard currency remains the most pressing problem for the island’s communist government.
Murillo, who is also economy minister, said that Cuba needs bigger exports and import substitution to generate reserves.
The vice president told a gathering of economists that the government is [...]
Shimla, Dec 31 (IANS) Thousands of tourists are making a beeline for popular hill destinations in Himachal Pradesh to ring in the New Year, bringing cheer to the hospitality industry.
Most hotels were fully booked well in advance of the ‘big day’.
‘The response (of tourists) is good. Most of our hotels are packed to capacity well [...]
San Francisco, Dec 29 (DPA) Any review of the major technology developments of 2009 would inevitably include copious copy on the Googles, Microsofts and other giants of the tech world.
But it was also a year in which the tiny company called Twitter became a major communications force, and when political, economic, social and technological trends [...]
New Delhi, Dec 20 (IANS) Agriculture Minister Sharad Pawar Sunday asked state governments to do more to control spiralling food prices, which led to protests in Parliament last week.
‘I appeal to all state governments that they should take the issue of price rise very seriously to protect the interest of consumers, otherwise it will be [...]
New Delhi, Dec 16 (IANS) Minister for Commerce and Industry Anand Sharma Wednesday said the growth in exports was sustainable in the coming months.
Compared to the corresponding period last year, India’s November exports have risen 18.3 percent to $13.2 billion (Rs.66,000 crore), the first rise after 13 months of decline.
‘The export growth is sustainable in [...]
With gold prices hitting new highs, the glitter just gets brighter each day. The phenomenal rise in the value of the yellow metal has been a by-product of the global recession as investors, both in India and abroad, are looking for safe products in which to place their funds.
With the dollar weakening and the US [...]
Gold is glittering more brightly every passing day with prices of the yellow metal literally going through the roof. The phenomenal rise in the value of gold has been a by-product of the global recession as investors are looking for safe products in which to place their funds.
With the dollar weakening and the US [...]
Panaji, Dec 12 (IANS) Goa, one of the major tourism destinations in Asia-Pacific, could be losing out to Vietnam, Laos and Cambodia, say industry officials here.
‘Goa’s share in the regional tourism market is rapidly shrinking because of tough competition from Southeast Asian countries,’ said Travel and Tourism Association of Goa president Ralph de Souza.
‘Earlier Goa [...]
Kuala Lumpur, Dec 12 (IANS) An estimated 2,000 Indian barbers in Malaysia face a crisis. The government has decided that foreigners are not required to ply their trade in this sector.
In Penang, 50 of the 70 barber shops have closed down in the last six months.
Penang Indian Hairstylists Association committee member K. Selvakumaren told New [...]
London, Dec 4 (IANS) Corus, the European arm of Tata Steel, said Friday it will cut 1,700 jobs and partially close a plant in Britain’s Teesside region in the new year.
The decision by the Anglo-Dutch company follows the failure of four international buyers to purchase 80 percent of the Teesside Cast Products plant’s production for [...]
Thiruvananthapuram, Dec 1 (IANS) At least 37,000 emigrants from Kerala have lost jobs overseas because of the global recession, says a report released Tuesday by the Centre for Development Studies (CDS), a city-based think tank.
The study, titled ‘Impact of Global Recession on Kerala Emigrants: Unemployment, Return Migration and Remittances’, was conducted by demographers K.C. Zachariah [...]
Kochi (Kerala), Nov 29 (ANI): Once completed by the year 2011, the Infopark at Kochi will offer a low cost plug, play the BPO part and provide over 50,000 jobs in the IT/ITES sector.
Developed over 160 acres of land at the Kunnathunadu and Puthencuruz village near Kochi, the Infopark will also to promote eco-tourism. [...]
Kolkata, Nov 23 (IANS) City-based South Asian Petrochem Monday said it has dropped a project to build a polycarbonate plant in association with Asahi Kasei Chemicals Corp of Japan due to the global slowdown.
South Asian Petrochem had entered into a licence agreement with the Japanese firm to set up the plant with a capacity of [...]
New Delhi, Nov.21 (ANI): India and Kazakhstan have both been affected by the global recession, but this has not prevented them from striving to keep bilateral business ties alive since January of this year, when the meltdown was at its devastating peak.
The business end of this strategic relationship has covered cooperation in several areas, [...]
Thiruvananthapuram, Nov 16 (IANS) Kerala tourism needed some good news after being hit by global recession and the Thekkady boat tragedy in September. It has got the pep with the National Geographic rating its backwaters as the world’s 23rd best destination, giving the sector a reason to smile.
State Tourism Minister Kodiyeri Balakrishnan said the rating [...]
Islamabad, Nov 15 (DPA) The United Arab Emirates (UAE) has decided to go ahead with the construction of a $5 billion oil refinery in Pakistan’s southwestern Balochistan province, Pakistani officials said Sunday.
The refinery with an output of 250,000 barrels per day was postponed in January, due to the global recession and a row over management [...]
London, Nov.13 (ANI): Admitting to paying its 100 most senior staff 20 million pounds a year has landed the British Broadcasting Corporation (BBC) in a soup.
Figures released by the corporation disclosed the top 100 are paid an average of 199,316 pounds, comfortably exceeding the Prime Minister’s 194,250 pound salary. BBC Director General Mark Thompson [...]
New Delhi, Nov.12 (ANI): Placing emphasis on the central role that business plays in elevating bilateral partnerships between two countries, visiting Australian Prime Minister Kevin Rudd on Thursday told captains of Indian industry at the Taj Mahal Hotel here that both Australia and India share common commercial interests.
Business partnerships, he said demonstrate the power of [...]
Dhaka, Nov 12 (IANS) Bangladesh’s foreign exchange reserves have crossed the $10 billion mark, the highest ever, an official said.
The nine-fold increase in as many years is thanks to increasing remittances, a fall in global fuel prices and reduced rice imports.
The country’s foreign currency reserve was $1.3 billion in the financial year 2000-01.
The increase of [...]
Kolkata, Nov 11 (IANS) The construction of the proposed auto component park in West Bengal is likely to begin next year, a senior state government official said here Wednesday.
‘It will take at least eight to ten months to start construction of the auto park. Right now we are looking at land procurement for the auto [...]
Chandigarh, Nov 6 (IANS) Some cheerful news for job seekers – the Haryana government’s Overseas Placement Bureau, set up to facilitate employment abroad, has received inquiries from companies in Canada and the US, an official said here Friday.
‘We have received the requirement of 3,190 vacancies in different categories from Canada and 70 vacancies of physiotherapists [...]
Moradabad, Oct 27 (ANI): The aluminium industry here is producing household and decorative items in the colour green with the theme of environment conservation.
These green household items made from aluminium and wood are in a great demand both in the country and abroad.
According to [...]
Bangalore, Oct 23 (IANS) TVS Motor Co. posted a net profit of Rs.24.6 crore for the second quarter this fiscal, registering a record growth of 136 percent from Rs.10.4 crore in the like period last fiscal, the leading two-wheeler maker said Friday.
‘We were able to post robust net profit by reducing raw material prices and [...]
Bangalore, Oct 22 (IANS) Coinciding with the global launch of Windows 7 by software giant Microsoft, leading computer maker Lenovo Thursday rolled out in the Indian market a new range of Think and Idea-branded PCs running on the new operating system.
‘We are also introducing two new ThinkPad laptops with Windows 7 OS for the small-to-medium [...]
Thiruvananthapuram, Oct 17 (IANS) United Arab Emirates will recover from the global recession by the end of the year, the country’s envoy to India Mohammed Sultan Abdullah Owais said here Saturday after a meeting with Kerala Chief Minister V.S. Achuthanandan.
‘New jobs will certainly be there and even now things in my country are coming back [...]
Berlin, Oct 14 (DPA) Industrial production in the 16-member eurozone rose in August, the Europe’s statistics office said Wednesday, adding to evidence of an end to the recession in the currency bloc.
Eurostat said output rose by 0.9 percent month on month in August and revised up the July figure to a 0.2 percent increase. Economists [...]
London, Oct 9 (ANI): Britons splash out the maximum on chocolate than any other European country, it has emerged.
A Mintel survey revealed that Britons each spent an average 57 pounds on chocolate treats in 2008 – a huge total of 3.5billion pounds.
Belgians spent around 48 pounds per head [...]
Nagaland, Oct 8 (ANI): In a glittering ceremony held at the Indira Gandhi Stadium at Kohima today, Nagaland Chief Minister Neiphiu Rio declared the First North East Youth Festival open.
In his inaugural speech, Rio said that success at the regional or national level is no longer excellence.
He called on the youth from all [...]
Bangalore, Oct 8 (IANS) Besides the recession, high inflation, volatile currency rates and scarce finance are also posing challenges to the global coffee sector, an industry expert said Thursday.
‘High inflation rates have reduced the power of coffee producers with production costs squeezing margins and fluctuating exchange rates impacting exporters and buyers,’ International Coffee Organisation (ICO) [...]
Havana, Oct 7 (EFE) Cuba has reduced the area of its 2009 tobacco crop by almost 30 percent and the harvest forecast by 16 percent due to global recession, officials said.
The cutbacks are due to ‘the economic troubles that have generated a crisis’ on the island, as well as the ‘financial restrictions that made it [...]
