- In spite of a cheery assessment recently from the country's central bankers that led projections of 2012 GDP to be raised -- to 3.5 percent -- while views on inflation were lowered, recent days have seen growing signs of economic distress emanating from Australia.
- India's new finance minister P Chidambaram has said that his topmost priority is to regain the investors' confidence.
- The Indian government has taken a major step toward its ambitious vision of achieving Universal Health Coverage (UHC) by initiating a $5.4-billion plan that would allow the government sector doctors to prescribe generic drugs to the patients free of cost.
- While American politicians such as U.S. Sen. Kirsten Gillibrand, D-N.Y., are pushing to expand federal tax breaks for small businesses, the U.K. government has already announced a move to help early-stage businesses find new means of financing: tax relief for private investors.
- If you call them, they will come. That's what the U.S. government is betting on with its first-ever national tourism campaign from Brand USA.
- Spikes in unemployment might be a necessary evil to austerity reform measures meant to control the European financial crisis. But, when push comes to shove, those high levels of joblessness are actually making contagion of the crisis amongst countries worse.
Moody's Says India's Credit Rating Outlook Is Stable, Slowdown In Economic Growth A Short-Term IssueGlobal rating agency Moody's said Monday that it was retaining the outlook for India's rating as stable and said slowdown in economic growth might be a short-term problem.
- State-owned Beijing Automotive Industry Holding Company (commonly known as Beijing Automotive Group or BAIC) hired Leonardo Fioravanti, legendary designer of the Ferrari Daytona, to transform the Chinese car conglomerate into a world-class maker of luxury cars by 2025, according to Bloomberg News.
- The Socialists and their cohorts now control 315 seats in the 577-seat Assembly -- marking the first time in 30 years that Socialists have enjoyed such dominance in the French government.
- The Reserve Bank of India disappointed the industry as it left the repo rate and cash reserve ratio unchanged at 8 percent and 4.75 percent, respectively, in its mid-quarter policy review Monday. The reverse repo rate, at which banks lend money to the RBI, also remains unchanged at 7 percent.
- India despite its slowing economic growth is poised to emerge as the top sixth wealth market in the world, according to Datamonitor's 2012 global wealth market report.
- The Exxon Mobil Corp. will abandon its shale gas exploration projects in Poland because the company's test wells did not produce commercial quantities of gas, the daily newspaper Gazeta Wyborcza reported, according to Bloomberg News.
- With French President Francois Hollande's Socialist Party appearing likely to cement its hold on the country's government in elections on Sunday, the Journal du Dimanche has reported that France wants the European Union to agree on growth-boosting measures worth ?120 billion ($151 billion) this year.
- Saudi Crown Prince Nayef (Naif) bin Abdulaziz Al Saud, heir-apparent to King Abdullah and a staunch enemy of al-Qaeda as head of Saudi Arabia's Interior Ministry, died today at 78, according to the International Islamic News Agency. Nayef's death reopens the question of who will succeed King Abdullah.
- There are fresh signs the U.S. economy may be caught in a storm fed by a floundering Europe and a slackening China. Weakening demand in both regions appears to be taking a toll on U.S. manufacturing, already the locus of a contracting workforce.
- Indian media has feasted on scandals in the mining industry in recent years.
- Finland-based cell phone manufacturer Nokia announced Thursday that it plans to cut 10,000 jobs globally as part of its revamping measures.