Search Results for: economic recession

Microsoft on Verge of Trimming Jobs; Nadella Tight Lipped about Layoff

Microsoft Corp is reportedly set to annouce a few job cuts this week with an aim to slim down and unify Nokia Oyj's handset unit.

Jul 16, 2014

Brazil's President Rousseff talks to Russia's President Putin and India's Prime Minister Modi while they pose for a group picture during the VI BRICS Summit in Fortaleza

BRICS Must Stand United against Terrorism in West Asia and Gulf Countries, Says Modi

Modi said that the BRICS nations must unite and counter terrorism in the Gulf region and West Asian countries.

Jul 16, 2014

Modi Pushes for BRICS University, 'People to People' Contact at Brazil Summit

Modi wants the five nations to collaborate in the fields of education, sports and tourism, besides confronting global challenges including terrorism, cyber security and climate change.

Jul 16, 2014

Tibet NGO prompts BRICS leaders to discuss Tibet-China issues

Dharamsala, July 16 (ANI): A group of Tibetan non-governmental organization, the International Tibet Support Network (ITSN) in Dharamsala prompted Prime Minister Narendra Modi and other BRICS leaders to discuss the Tibetan issue with Chinese President Xi Jinping. On the sidelines of BRICS summit at Fortaleza in Brazil, Modi met Xi on Tuesday, as they discussed the unresolved border issue and highlighted the need to address the trade deficit. The sixth summit of the BRICS, which consists of Brazil, Russia, India, China and South Africa, will be held in Brazil till July 16. Spokesperson of ITSN, Lobsang Tseten, said their primary aim is to urge the leaders and seek their help to resolve the ongoing crisis in Tibet. China has ruled Tibet since 1950, when Communist troops marched in and announced its "peaceful liberation". Tibetans feel their intensely Buddhist culture is at risk of annihilation by Beijing's political and economic domination and the migration of majority Han Chinese into the Himalayan region.

Jul 16, 2014

BRICS Summit clears setting up of $100 billion New Development Bank with India's presidency first

Brazil, July 16 (ANI): Leaders of the five BRICS countries met for the first working session in Brazil in a major victory for India, sealed the agreement on the much anticipated 100 billion dollars BRICS Development Bank. The new development bank of the group of BRICS countries will be headquartered in Shanghai, China, with the presidency initially held by India. The deal was reached after intense last-minute negotiations to settle a dispute between India and China over the headquarters of the new bank, which will have initial capital of $100 billion to invest in infrastructure projects. Negotiations to create the bank dragged on for more than two years as Brazil and India fought China's attempts to get a bigger share in the lender than the others. The stark economic and political differences between the BRICS countries have made it difficult for the group to turn rhetoric to concrete action in coordinating policies.

Jul 16, 2014

Modi Meets Putin in Brazil, Calls Russia India's All-Weather Friend

Prime Minister Narendra Modi met with Russian President Vladimir Putin on Tuesday after the first day of the 6th BRICS Summit in Brazil, a day after the meet between the two leaders was postponed.

Jul 16, 2014

India's East Coast Braces for Cyclone Phailin

Andhra Pradesh to Develop Vizag into Major IT Destination

The largest city of Andhra Pradesh on the state's east coast, Visakhapatnam will be developed into an "IT Capital" of the state thanks to its immense potential, the Minister for Information Technology Palle Raghunadha Reddy said in the city on Tuesday, 15 July.

Jul 16, 2014

BRICS Launch Development Bank, India Loses Headquarters to China

The consolation for India is that it will get the first term of presidency of the bank for five years.

Jul 16, 2014

Japanese firms expanding base in ASEAN

Cambodia, July 15 (ANI): Phnom Penh, the capital of Cambodia, witnesses a major economic growth, but here exists only a few commercial establishments. International giants like Japan's Aeon Group are foraying into the Cambodian market and it opened its first shopping mall. Cambodian Prime Minister Hun Sen and Japanese Foreign Minister Fumio Kishida were among the dignitaries present at the event. The Cambodian Prime Minister calls it a major investment by AEON, which shows the economic growth of Cambodia. He hopes for more advancement of Japanese investment in the country.

Jul 15, 2014

Prez Pranab Mukherjee presents Gandhi Peace Prize to Chandi Prasad Bhatt

New Delhi, July 15 (ANI): President Pranab Mukherjee on Tuesday felicitated renowned environmentalist Chandi Prasad Bhatt with 2013 Gandhi Peace Prize at a glittering ceremony in Darbar Hall at Rashtrapati Bhawan. The pioneer of the Chipko movement has also been awarded with the Ramon Magsaysay Award for community leadership in 1982 followed by the Padma Bhushan in 2005. The Gandhi Peace Prize was instituted in 1995 on the occasion of the 125th birth anniversary of Mahatma Gandhi. This annual award is given to individuals and institutions for their contributions towards social, economic and political transformation through non-violence and other Gandhian methods.

Jul 15, 2014