GLOBAL CRISIS- BAD NEWS
World’s Richest Lose $24 Billion As Adelson Fortune Drops
The world’s richest people lost a combined $24.4
billion this week as concerns over Spain
Casino mogul Sheldon Adelson lost $2.2 billion. Shares of his
Nevada-based Las
Vegas Sands Corp. (LVS) fell 10.3 percent during the
week. On Friday, Macau casinos reported
gambling revenue rose 7.3 percent in May, its slowest pace since July 2009.
Adelson, 78, is the 22nd richest person in the world, according to the Bloomberg Billionaires Index.
By Devon Pendleton - Jun 2, 2012 3:46 AM GMT+0530
U.S.
By Lu Wang - Jun 2, 2012 9:31 AM GMT+0530
The
Standard & Poor’s 500 Index slumped 2.5 percent yesterday, the most since
November, after American employers added the fewest workers in a year during
May. All 10 industries in
the benchmark index slipped in the holiday-shortened week. Energy shares sank
4.6 percent as oil had the biggest monthly decline in more than three years. An
index of homebuilders tumbled 10 percent, the most since August, amid
worse-than- expected housing data. Facebook Inc. plunged 13 percent.
Will Spain UK
Published: Sunday, Jun 3, 2012, 18:01 IST
By Philip Aldrick | Agency: The Sunday Telegraph
By Philip Aldrick | Agency: The Sunday Telegraph
There
was an eerie calm about the plight of Spain
The
country's borrowing costs may have been inching perilously higher on news that
Spanish banks had tapped the European Central Bank for around €200bn (£160bn)
of a €530bn round of emergency funding, but officials gathered in the warm
Washington sunshine were confident that Madrid would soon win back the markets.
Bank of England
Published: Tuesday, May 29, 2012, 14:11 IST
By Robert Winnett | Place:London
By Robert Winnett | Place:
The
Bank of England is poised to cut interest rates or launch another round of
quantitative easing if the euro collapses.
A
senior official for the Bank said the measures would "again play [their]
part in mitigating the impact" of Greece
The
comments come after the head of the IMF suggested last week that British
interest rates may have to be cut to zero if the economic situation
deteriorates.
INDIAN ECONOMY -UNFOLDING - GOOD NEWS
Falling rupee a boon for IT professionals
Published: Saturday, Jun 2, 2012, 12:41 IST
By DNA Correspondent | Place: Pune | Agency: DNA
By DNA Correspondent | Place: Pune | Agency: DNA
Indian
rupee’s free fall can prove to be a blessing in disguise for the country’s IT
and IT enabled services industries (ITES). Industry pundits have strongly urged
professionals in this field to be adept in latest technology and brush up
multilingual skills and make the most of the unexpected windfall.
With
the rupee losing 10% to the US India
Govt aims for Rs. 50,000 cr
private investment in airport projects
The govt estimates
that Rs. 67,500 cr would be needed to develop
and modernize airports during the 12th Plan period, of which the AAI would
contribute Rs. 17,500 cr and the rest Rs. 50,000 cr has to come from private
sector PTI
The
government estimates that a whopping Rs. 67,500
crore would be required to develop and modernize airports during the 12th Plan
period, of which the Airports Authority of India (AAI) would contribute Rs. 17,500 crore. While the balance of
around Rs. 50,000 crore has to be brought in by
the private sector, official sources said, “this large amount may require
significant contribution from global investors as well.”
NEUTRAL- HOPE TO LIVE DESPITE CRISIS
Germany
has three months to stem euro crisis: Soros
Published on Sun, Jun 03, 2012 at
07:22 | Source : Reuters
Updated at Sun, Jun 03, 2012 at
09:31
Speaking at an
economic conference in Trento , Italy , Soros said that the euro crisis - which
he defined as a sovereign debt crisis and a banking crisis closely interlinked
- threatened to destroy the European Union and plunge it into a lost decade
like Latin America in the 1980s.
"A similar
fate now awaits Europe . That is the
responsibility that Germany
