Archive for May, 2009

The head of the International Monetary Fund on Friday expressed that the global economy is likely to emerge out of the current fiscal crisis early next year. The global recession worldwide, known as the worst since The Great Depression of the early 1930s, has so far hit almost all the sectors of the market,... »

The recession hit economy of the country has taken its toll on many of the giants from all the sectors. The companies have been looking at chalking out effective cost cutting techniques and methods, including handing pink slips, cutting production, shutting units and reducing incentives of the top officers. The latest to join the... »

The United Nations is expected to face a staggering $1.5 billion gap in its annual budget for the financial year 2008-09. This deficit is seen as a direct outcome of the raging recession in the member countries contributing the most to UN’s annual budget, United States, Britain, China and Germany. Under-Secretary-General for Management, Angela... »

Japan’s economy shark at the fastest pace in nearly 14 years, since 1955, by almost 15.2 per cent as its exports plunged sharply. Many of the Japanese countries, from all sectors of the market, slashed their production due to slump in global demand, shut factories, cut its workforce in their attempt to come up with... »

Nokia on Tuesday announced the company’s plan to slash another 490 jobs from its global workforce. The world’s largest mobile phone maker, announced to cut as many as 170 positions in logistics, production management and production support areas. Amidst the global recession, the phone making giant was hit badly by the slump in customer... »

Panasonic Corp. reported a huge $4 billion (378.96 billion yen) loss on Friday for the financial year ended March. This was the first annual financial loss in the past seven years for the company. The Japanese electronics giant, Panasonic sank deep into the red last year after being marred by a stronger yen... »

Rugs can change the entire look of a room. An ordinary room can look like the most luxuriant room. Remember the look of the King’s room in the palace in the movies? Well you too can have that look and guess what all you require are cheap rugs. This is one site that has it... »

Nike Inc., the leading shoe and apparel company, has announced its plans to lay off about 1,750 jobs worldwide. This amounts to about five percent of its global work force. The company did not specify what departments the cuts would be in. however, out of the 1750, about 500 would be laid off at... »

Japan’s Sony Corp. has posted its first annual loss in last 14 years on Thursday. The company reported a huge $1 billion (98.94 billion yen) dip in profits for the previous financial year. The recession worldwide plunged sales and has taken a heavy toll on the high-tech giant’s sales as the revenues plunged close to... »