Microsoft was considered to be recession proof till a year back, but the ongoing economic downturn has started affecting even this bell weather company. The company has reported a 6% decline in the top line which is happening for the first time after several years of continuous growth.
From the time the company went public in [...]
The US government is totally upset with the way the current Pakistan government is dealing with the terrorist group Taleban. The Pakistani government has officially acceded control of Swat valley to the Taleban, and in the last few weeks, Taleban has been extending its reach to nearby areas also.
The US administration fears that there could [...]
The global economic gloom across US , Europe and Japan are having a big negative impact on the global steel output. The steel output crashed by nearly 23% in the first three months of 2009, figures from the World Steel Association showed on tuesday. The output was only at 92 million tons, and experts say [...]
The Central bank of India has cut down the bank interest rates by another 25 basis points from 4% to 3.75% . It unveiled its busy season policy today and it painted a grim picture for the economy. It has projected a lower growth rate for the current year at less than 6%.
It has also [...]
What the US and few other countries were expecting at the UN racism conference has happened. The Iranian President Ahmadinajed commented that Jewish migrants from Europe were sent to Palestine to establish a racist government in the occupied Palestine.
This invited sharp reactions from the French and British ambassadors present at the meeting, who walked out [...]
Citigroup has reported a 1.2 billion dollar profit for the first quarter of 2009, which looks very good at first look. But a deeper analysis of the numbers show that the profits are indeed due to accounting rule changes and also abnormally low provisioning.
The second largest Bank in US, Bank of America, also reported a [...]
Year 2009 has started on a better note as per US President and FED chief and so many other leading personalities, but the actual data reveals something else.
US closed down 25 banks in the full year 2008, but within 100 days of 2009, the country has closed down 29 banks. This is only an indication [...]
The UN racism conference scheduled to be held in Geneva tomorrow will be missed by US, because US is not happy with the draft declaration, even after one round of correction. It has informed the UN that it will not be attending the conference.
US has also clarified that it will continue to work with other [...]
Venezuela and US were at logger heads last year due to the Bolivia conflict. Both the countries dismantled the diplomatic setup with the other in September. And Venezuela called the then US President as totally unacceptable and was not ready to have any negotiation at all.
The new US President Barack Obama has now extended [...]
Mexico is one of the top five developing countries which was growing at a scorching pace in the last few years. And scores of foreign investors put in billions of dollars into Mexico companies to make a fast buck.
But the deepening financial crisis ripping through the developed world in the last one year, has started [...]
