Published on 17 Nov 2008 in: Economy & Policy
Japan , the world’s second-largest economy is in a recession officially.
Japans gross domestic product has fallen by 0.4 percent this year, pushing Japan into its first recession since 2001.
Japan joined Germany and Italy on the list of major economies that are now officially in recession.
The last time Japan fell into recession was in 2001 after the Internet bubble burst.
Published on 20 Oct 2008 in: Economy & Policy
The Reserve Bank of India (RBI) today lowered the repo rate by 100 basis points to 8 % as against 9 % earlier. Repo rate is the rate at which the RBI lends to the banks.
The decision was aimed at improving the liquidity position in the country.
Published on 20 Oct 2008 in: Economy & Policy
Repo Rate is the rate at which Reserve Bank of India (RBI) lends to the banks. Whenever the banks have any shortage(money to lend) of funds they can borrow it from RBI.
If the repo rate is reduced, it will rate will help banks to get money at a cheaper rate.
Published on 18 Oct 2008 in: Sports
The World Chess Championship 2008 is a twelve game match between the World Chess Champion, Viswanathan Anand, and the previous World Champion Vladimir Kramnik.
The match takes place in Bonn, Germany, between 14 October and 2 November 2008