Monthly Archives: May 2009

Slightly less than the expectations, but the US GDP shrank a huge 5.7 per cent in the first quarter this financial year amidst the global recession, considered the worst since the Great Depression in 1930s. According to a commerce department report released on Friday, the corporate profits rebounded and there are hints that the...

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A good CRM package can make an organization grow by leaps and bounds. Simply that process of automation and allowing technology to work can do wonders for an organization. Take the case of mortgage software. A good one can empower an organization to concentrate and improve its bottom line rather than working endlessly on...

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The United Nations has forecast that it is expecting the world economy to shrink by a staggering 2.6 per cent in the financial year 2009 amidst the global recession, slump in demand and subsequent sales. In a mid year report released by UN Department of Economic and Social Affairs (DESA), the world body said,...

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The ILO on Thursday announced that it is expecting the global unemployment forecast to shoot up to a record 239 million! In its earlier projection this year, the ILO said up to 230 million people could be unemployed in the financial year 2009. ILO on Thursday raised its earlier projection saying that about 239...

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The US government may own 70% stake in the restructured General Motors, The New York Times has reported. The ailing auto making giant is struggling hard to avoid the bankruptcy which now seems inevitable. According to a report published in The New York Times, “The latest plan for the troubled automaker, which is expected...

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The global recession is slowly expanding its grip on other nations too. The latest one to be added is Thailand. Thailand’s economy stepped into recession at the end of the first quarter of the current financial year 2009 as the country’s growth contracted by a huge 7.1 per cent due to tumbling exports and...

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Britain’s economy shrank at its sharpest pace in almost past 30 years amidst the worst global recession since the Great Depression of the 1930s. According to the official data released on Friday, the British GDP shrank 1.9 per cent during the first quarter of the financial year 2009, its sharpest pace in near three...

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Taiwan’s economy shrank a staggering 10.2% year-on-year in the first quarter of 2009 according to the local government. This a record decline in the country’s economy! Taiwan’s directorate-general of budget, accounting, and statistics announced on Thursday that they are expecting the country’s economy to contract further by a huge 4.25 per cent during the...

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Indian software giant Infosys announced its plans on Thursday that the company is aiming to hire about 1000 new recruits in the US in the upcoming 12 to 18 months. Out of the company’s present 1,04,000 combined workforce, a good 14,000 employees are based in the US. The software company’s plans were revealed by...

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The US government is all set to steer General Motors into bankruptcy and also plans to fund the auto making giant with billions of dollars in extra public financing. According to the official plans the government is aiming to half the auto giant with about 30 billion dollars in extra federal loans. This is...

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