Nortel Networks Corp, a renowned telecommunications equipment maker company, filed for bankruptcy protection in Canada and the US on this Wednesday, becoming the first major technology company to take that step in this recessional phase. The company had been facing a sharp drop in orders from phone companies, Nortel filed for court protection a day […]
Joint Rate Cuts to Ease Global Economic Turndown
Washington, DC (GroundReport) – Published reports say coordinated short-term interest rate cuts have been implemented in Europe, America and Asia, to assuage the effects of a turndown in the global economy. Treasury Secretary Henry Paulson told reporters that his priority is the stabilization of financial markets. He said the Treasury’s new authority to remove the […]
How to Successfully Navigate Your Business through an Economic Downturn
An economic downturn is a phase of the business cycle in which the economy as a whole is in decline.This phase basically marks the end of the period of growth in the business cycle. Economic downturns are characterized by decreased levels of consumer purchases (especially of durable goods) and, subsequently, reduced levels of production by […]
MoU Signing held between BASIS and IDCOL
A Signing Ceremony of Memorandum of Understanding (MOU) between Bangladesh Association of Software and Information Services (BASIS) and Infrastructure Development Company Limited (IDCOL) was held on Wednesday, 6th August, 2008 at 5:30 pm at Green View, BCFCC, Agargaon, Dhaka. Mr. M Aminul Islam Bhuiyan, Secretary, ERD, Ministry of Finance, Government of the People’s Republic of Bangladesh and Chairman of IDCOL attended the […]
Fannie and Freddie’s Day of Reckoning May Be Near
Treasury Secretary Henry Paulson announced a plan Sunday to rescue Fannie Mae and Freddie Mac from a potential financial calamity that many have warned of for years. In a rare weekend appearance, Treasury Secretary Henry Paulson announced Sunday night that he was asking Congress for speedy approval of authority for the federal government to provide […]
The Reserve Bank Of India increased Repo rate and CRR.
With the rise of inflation rate to an all time high of 11.05 % in India, both the Central Government and the RBI have been blamed for not taking timely action to prevent the rise of inflation rate. In the wake of criticism, RBI is now making frantic attempts to curb inflation and have it […]
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