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Economy
Recovery Watch
- The index of industrial output grew 10.4% in August this year as against 7.2% in the previous month.
- Farm loan disbursals rose 57% to Rs 1,13,000 crore this fiscal until August.
- Indian Railways’ revenue earnings from goods traffic went up 5.84% to Rs 27,631 crore in the April-September period.
- According to Naukri.com, hiring by corporates increased 4.1% in September. The website’s monthly JobSpeak Index increased from 701 in August to 729 in September.
- The Prime Minister’s Economic Advisory Council has said that the economy is likely to grow at 6.75% during the current financial year.
- Sales of PCs in the Asia-Pacific region rose 17% to 23.4 million units in Q3, according to information technology research firm IDC.
- India’s steel consumption may go up by 8.9% in 2009 to 55.93 million tonnes (mt) compared with 51.36 mt a year ago, according to the World Steel Association.
- Tata Motors has increased its production capacity of the Nano, the world’s cheapest car, by 20%. The company has sold about 7,500 Nanos in the past three months.
- World demand for Opec crude will average 28.39 million barrels per day (bpd) in 2010, the Organisation of Petroleum Exporting Countries said in a monthly report. That is an increase of 300,000 bpd over its previous forecast.
- Consumer durables in India posted a year-on-year growth of 22.3%. This is the highest rise in more than five years.
- Worldwide spending on information technology is expected to increase by 3.3% in 2010, according to research firm Gartner. This comes on the back of a 5.2% decline this year.
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Elsewhere in Business
The yuan’s dollar peg is likely to see some furious discussions during Obama’s China trip.
Magazine | Nov 28, 2009
After five quarters of being in the negative zone, the US economy top scored with 3.5% growth. But is the recession actually over?
Magazine | Nov 28, 2009
Magazine | Nov 28, 2009
The government has finally decided to open its treasure chest by paring its holdings in all profitable PSUs to less than 90%. This could potentially help it raise Rs 28,056 crore. Here are some of the crown jewels.
Magazine | Nov 28, 2009
Magazine | Nov 28, 2009
Wipro decides to shut its French development centre and lay off 60 employees. The move raises hackles.
Magazine | Nov 28, 2009
The global recession has been a litmus test for Indian
automakers’ alliances with foreign partners.
Magazine | Nov 28, 2009
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