India’s economic woes continued today with the Indian Rupee falling again below Rs50 to a US dollar. The UPA government is worried about the affect of the worldwide economic downturn on it’s re-election prospects. The Finance Minister, Mr. Chidambaram, requested the industrial leaders to cut down their prices in order to boost consumer [...]
The PM, Dr. Manmohan Singh, met with industry leaders to review the impact of the global financial crisis on Indian economy. In an election year, Dr. Singh was able to get assurance from the attendees that there would not be any mass layoffs.
Avoid knee-jerk reactions, Manmohan tells industry, The Hindu, Nov 4 2008
Manmohan [...]
Update : Rupee falls to record low of 50.15, Indian Express, Oct 24, 2003
Global economic Recession (the R word in the title) is upon us. The crisis raised it’s ugly head again today with the Bombay Stock Exchange reacting with volatility. At one time, the Sensex dipped below 10,000. The Indian Rupee fell to a record [...]
Mainstream media is reporting this afternoon that the Bombay Stock Market has crashed over 500 points and the sensex has gone below the 10,000 mark.
Market closes below 10K; Realty, power plunge , Economic Times, 17 Oct, 2008
Sensex at 2-yr low, ends below 10,000, Indian Express, Oct 17, 2008
Sensex plummets below 10K, lowest [...]
The global financial crisis has gotten worse and is affecting every major country in the world. Stock markets around the world have lost heavily in this crisis.
Wild Day Caps Worst Week Ever for Stocks, The Wall Street Journal, Oct 11, 2008
Credit Crisis — The Essentials, The New York Times, Oct 11 2008
The markets:Off a [...]
The US Senate has rejected the $700 billion bailout package proposed by the Secretary of Treasury. This has led to a global panic and resulted in fall in markets world wide.
Asian markets plummet on U.S. bailout failure, CNN.com, Sep 30 2008
House Rejects Bailout Package; Stocks Plunge, The New York Times, Sep 29, 2008
Lawmakers point fingers [...]
