| ICICI Home Finance NPAs rise 3.5 times | 24-NOV-09 |
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| Hit by economic slowdown and dip in customers repayment capability, ICICI Home Finance Company, subsidiary of ICICI Bank, reported about 3.5 fold growth in its non-performing assets at Rs 161.43 crore at end of September 2009 from Rs 36.03 crore a year ago. |
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| Hard times in software | 24-NOV-09 |
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| With half the financial year gone, it is increasingly clear that the global slowdown has speeded up a structural change that has been taking place in the Indian software industry for quite some time now. The medium-sized firms are getting squeezed more and it is the market leaders that are better able to survive. Firms like TCS and Infosys have clocked modest but clear top line growth in the first half, whereas established mid-sized players have in many instances posted a fall in top line in relation to the same period of the previous year. The trend was set with the high profile $1.5-billion BP deal awarded a couple of months ago in which the Indian leaders figured prominently but the total number of vendors was cut down from 40 to just five! This implied the elimination of many mid-sized vendors, in whichever geography they may have been located. |
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| PM leaves for four-day US visit | 22-NOV-09 |
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| Prime Minister Manmohan Singh left for Washington today for talks with President Barack Obama, saying India attaches “high priority” to its relations with the US and a “sustained and dynamic” partnership between them is essential to meet major global challenges like terrorism, climate change and economic slowdown. |
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| Indian tourists ride the slowdown | 20-NOV-09 |
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| A record 10.8 million Indian tourists went on a globe trotting spree in 2008-09, the worst year of the economic slowdown, as dipping airfares and lower hotel rates made holidays cheaper. This was one million more outbound tourists than the year before. |
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| US gets $2.75 bn from Indian students | 18-NOV-09 |
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| The economic slowdown notwithstanding, India retained its top spot in 2008-09 for sending the highest number of students to US varsities and colleges. India has been in the top position for the eighth consecutive year. |
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| Slowdown delays Hyd airport breakeven | 13-NOV-09 |
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| The global slowdown has delayed the breakeven of Rajiv Gandhi International Airport at Hyderabad, operated by GMR Hyderabad International Airport Ltd (GHIAL). |
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| Slowdown in earnings expected for cement firms | 11-NOV-09 |
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| The robust growth in net profit in the second quarter seems unlikely to be repeated soon for cement companies, as prices in the south and west have been falling since October, with the increase in supply outstripping demand. |
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| Pakistan's slowdown | 11-NOV-09 |
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| With all the media and public focus on Pakistan’s political problems, few are paying attention to its economic woes. After five years of 6 per cent growth, the Pakistan economy has slumped to a 2 per cent rate of growth in 2008-09, making the country the region’s worst performer. |
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| Slowdown hits remittances, says Western Union | 11-NOV-09 |
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| With the impact of global slowdown still persisting across countries, there may be a dip in remittances inflow into the country in 2009, according to Rajesh Mehta, director marketing – South and South East Asia, Western Union Services India. |
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| Slowdown hits Plan resources | 04-NOV-09 |
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| As the Eleventh Five-Year Plan period (2007-12) reaches halfway stage, the government is likely to face substantial financial shortfalls in the next two years, resulting in a marginal decline in the originally envisaged cumulative gross budgetary support (GBS) of Rs 1.6 lakh crore. |
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| Exports drop by 13.8% in September | 03-NOV-09 |
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| India's exports remained downhill for 12 months in a row, declining by 13.8 per cent to $13.6 billion in September, but the damage to exports inflicted by recession in big markets seems to be bottoming out. |
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| M Govinda Rao: Timing the exit right | 03-NOV-09 |
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| The expansionary fiscal stance of the last two years cannot continue and an exit strategy will have to be put in place in the forthcoming Budget to ensure fiscal sustainability and greater flexibility in monetary policy operation, and to enhance productivity in public spending and avoid pressure on interest rates. |
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