Archive for May, 2009
The Emirates group, the largest airline in the Middle East, has reported a fall in profits of 72% for the 2008/09 fiscal year.
The group, like many others around the world, has been hit hard by the global slowdown and high fuel prices.
Its profit of 1.49bn dirhams ($406m) for the year to March 31 compared with a 5.3bn dirham profit for the previous year.
Show me more… »
Categories: US Markets, World Economy
No Comments »
ndia’s economy grew 5.8% in the first three months of the year compared with the same period last year, which was better than had been expected.
The official gross domestic product figure was down from 8.6% annual growth seen in the first quarter of 2008.
Although growth has slowed from last year, the economy is still expanding faster than most other countries.
Show me more… »
Categories: Market News, World Economy
No Comments »
The U.S. economy shrank at an annual pace of 5.7% in the first quarter, a less severe drop than initially reported but still the second-biggest quarterly decline in 27 years, the government said Friday.
Economists expect a drop in gross domestic product this quarter as well, although not as sharp as in the first three months of the year.
Show me more… »
Categories: US Markets
No Comments »
The U.S. dollar fell to five-month lows against a basket of currencies on Friday as an advance in global equities and signs of an easing global recession drove investors to snap up higher-yielding currencies and riskier assets.
Global stocks rose and some equities markets posted 2009 highs, diminishing the safe-haven allure of dollar assets and sending the euro to a 2009 high against the dollar.
Show me more… »
Categories: Forex
No Comments »
Sun Pharmaceutical Industries Ltd has announces dividend of Rs 13.75 per equity share of Rs 5/- each of the Company for the year ended March 31, 2009 subject to the approval of the members at the ensuing Annual General
Show me more… »
Categories: Dividend
No Comments »
Unemployment up in 44 US states
Forty-four states lost jobs in April as the recession continued to hit hard, the Labor Dept. reported on May 22.
Michigan’s April jobless rate was the highest in the country, reaching 12.9%, followed by Oregon at 12%, South Carolina at 11.5%, Rhode Island at 11.1%, and California at 11%. California led in the total number of jobs lost with 63,700, followed by 39,500 in Texas, 38,400 in Michigan, and 25,200 in
Show me more… »
Categories: US Markets, World Economy
No Comments »
GMAC LLC, the auto and home lender that received $13.5 billion in government rescue funds, told employees earlier this week it will cut $1 billion in costs this year, said a person familiar with the matter.
The cuts amount to 20 percent of GMAC’s expenses and were announced in a companywide memo, said the person, who declined to be named because the document wasn’t made public. The cost reductions are aimed at returning the company to profitability, the person said. Beth Coggins, a company spokeswoman, declined to comment.
Show me more… »
Categories: US Markets, World Economy
No Comments »
Morgan Stanley, the sixth-biggest U.S. bank by assets, will increase some executive salaries and double Chief Financial Officer Colm Kelleher’s pay as bonuses come under scrutiny from the Obama administration and lawmakers.
The majority of executives will get raises, according to a person briefed on the decision. Chief Executive Officer John Mack’s base salary is unchanged this year, according to a regulatory filing yesterday.
Show me more… »
Categories: US Markets, World Economy
No Comments »
Honda Workers vote for 3% pay cut
Workers at Honda’s Swindon plant have voted in favour of taking a 3% pay cut for 10 months in an attempt to safeguard 490 jobs. In return, the workers will receive a bonus of six additional days’ leave, Unite the union said. Managers’ pay will be cut by 5%.
Of those balloted, 89% voted for a cut after the plant closed for four month
Show me more… »
Categories: US Markets, World Economy
No Comments »
HDIL QIP – upto USD 600 Million
Housing Development & Infrastructure Ltd (HDIL) has announced that the Board of Directors of the Company at its meeting held on May 23, 2009, inter alia, has approved the following:
1. The Board has decided subject to the approval of the Shareholders, to issue further capital upto USD 600 Million (United States Dollars Six
Show me more… »
Categories: Forex, Market News
No Comments »
|
