Even as the number of insurers is on the rise in India, life insurance penetration as percentage of gross domestic product has declined. While it was 4.1 per cent in 2007, it came down to 4 per cent in 2008.
Life insurance industry in the country has “de-grown” by 5 per cent this year, largely due [...]
Indian IT majors Infosys Technologies and IBM India Wednesday won the corporate excellence awards instituted by the industry’s representative body Nasscom (National Association of Software and Service Companies).
Announcing the awards at the third annual ‘IT women leadership summit 2008′ here, Nasscom president Som Mittal told reporters Infosys bagged the award in the IT services and [...]
The government is keeping a careful watch on the economy and will act speedily depending on the needs of various sectors, Finance Minister Palaniappan Chidambaram said on Tuesday.
He said the government would look at the problems facing exporters and the infrastructure sector.
Chidambaram also announced a 5 percent import duty on specified iron and steel items, [...]
The push to promote genetically modified (GM) wheat to combat global food shortages could slow as global commodity prices ease, a top industry executive said on Sunday.
“Now that prices have fallen off their peak, I don’t think it will be a priority,” said Vijay Iyengar, managing director of the Singapore-based grains trader Agrocorp International Pte [...]
Malaysia beat outsourcing giants China and India to play host to the Asian leg of an international outsourcing conference to held in May next year.
‘Chairman of the conference titled ‘Outsourcing World’ Michael Corbett was impressed with how Malaysia handled the World Congress on Information Technology in Kuala Lumpur last May,’ said David Wong, chairman of [...]
Asian shares sank on Thursday to their lowest this month on uncertainty about whether the United States can succeed in its massive banking rescue and a revenue warning from Intel Corp.
The Japanese yen retreated against the euro and the dollar after soaring on Wednesday on a flight-to-quality. Other Asian currencies fell, while Australia’s [...]
UK-based telecom major British Telecom Group (BTG) Thursday announced plans to cut 10,000 jobs at home and overseas, but said this would not affect the Indian operations of the company.
‘The Indian operations would not see any retrenchment. The majority of the job cuts are UK based. It is too early to know country specific job [...]
Tata Group Chairman Ratan Tata has asked CEOs and Managing Directors of 98 group companies to tighten belts, which could include putting off acquisitions and slowing capacity expansions, in view of the current financial crisis across the globe.When contacted a Tata Sons spokesperson said: “The senior managements of the Tata Group companies have been advised [...]
A Securities and Exchange Commission judge found little evidence to support a report that the agency failed to enforce the law in a 2003 investigation into Bear Stearns pricing of debt, according to an administrative law judge decision released on Friday.
In October, an SEC inspector general audit found there were delays in the investigation, as [...]
General Motors Corp. said Friday it lost $2.5 billion in the third quarter and warned that it could run out of cash in 2009 if the U.S. economic slump continues and it doesn’t get government aid.
GM also said it has suspended talks to acquire Chrysler. While it didn’t specifically name the automaker, GM said it [...]