The United States is heading towards recession with major global slowdown amid financial crisis International Monetary Fund (IMF ) in its latest World Economic Outlook (WEO) predicts.
- World growth will slow amid most dangerous financial shock since 1930s
- No growth in many advanced economies until at least mid-2009
- Global economy expected to stage modest recovery later in 2009
The world is heading towards a global recession, latest forecasts from the International Monetary Fund (IMF) have predicted.
In it’s latest report International Monetary Fund (IMF) have predicted world growth could slow to 3.7 % in 2008— 0.5 % point lower than what was forecast in the January 2008, citing the unfolding financial market turmoil as the biggest downside risk to the global economy.
AT&T, one of the foremost providers in the US and the sole provider of the iPhone, is targeting India as it seeks to expand its consumer mobile phone operations outside America.
AT&T is keen to expand overseas, particularly in emerging markets such as India and the Middle East.
Indian Finance Minister P. Chidambaram tabled the Economic survey 2007-08 in the Lok Sabha . Here are the highlights of the survey.
Economic survey 2007-08 highlights
- India needs second green revolution.
- GDP projected to grow 8.7 % in 2007-08, against 9.6% a year ago.
- Fiscal deficit to be kept below 3 percent in 2008-09.
HDFC Bank and Centurion Bank of Punjab Boards agreed, for a merger between the two banks– in what is poised to be the biggest financial sector deal in India’s banking history.
HDFC Bank is the third biggest bank in the country by share market value. Centurion Bank of Punjab itself had acquired the privately-owned Lord Krishna Bank in last year.
Image :Developed and Emerging Markets
Emerging regions such as Asia/Pacific, Latin America, the Middle East and Africa will continues to rise and generate IT spending of $1.1trillion in 2008, according to Gartner
Brazil, Russia, India and China (BRIC Economies) will lead this growth, according to Gartner, and spending in those four states will make up a third of all developing world IT spend.