The world is beginning to come out of its first recession since World War II, said the International Monetary Fund. In an updated economic forecast, the IMF said the global economy was already stabilising, the financial crisis has eased and the recession will end in the second half of this year. The report marked the first time the IMF has sounded a more positive note since the financial crisis struck in October, though the global lender also warned against complacency. “While the global economy...

Ahead of G-8 summit, United Nations Millennium Campaign warns that developing countries will be forced to slash desperately-needed expenditures for the poor; Campaign calls on G-8 leaders to urgently provide financial resources to poor countries. The United Nations Millennium Campaign is warning that the ongoing economic crisis is likely to bring the economies of many developing countries to the brink of collapse and threatens the very survival of their citizens. According to the African Develop...

Based on a report prepared by Pricewaterhouse Coopers (PWC), the Rs.584 billion Indian Entertainment and Media industry is projected to grow by 8.3 percent in 2009 as compared to 10.3 percent in 2008 and 16.7 percent in 2007. But it is expected to return to double digit growth in 2010. “The slowdown in growth requires the E&M industry to revisit their short term business plans and strategies. However, double digit growth is expected to return over the forecast period with India recording one of ...

India on August 6 denied reports in a section of the Chinese media and said it has not imposed any restrictions on Chinese goods. The Indian embassy in Beijing said in a statement that Indian exports to China in the first six months of 2009 stood at $6.6 billion, a decline of 50 percent compared to the same period last year. On the other hand, Chinese exports to India in this period stood at $13.41 billion, which was a slowdown of only 16 percent.