Category: News

Latest US GDP projection shows recession abating

US gross domestic product (GDP) grew 3.5 percent on an annualized basis in the third quarter (July through September), breaking a string of four consecutive quarters of negative growth, the Commerce Department reported. President Barack Obama hailed the report as “welcome news” and “an affirmation that the recession is abating and the steps we’ve taken have made a difference.” Wall Street rallied on the report. The Dow gained 200 points, reversing a week of losses and nearing the 10,000 mark once again. The reported increase in the growth rate topped most forecasts. Economists surveyed by Dow Jones Newswires had forecast

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Singh, Wen side step Arunachal, resolve to enhance trade ties

Prime Ministers of India and China, meeting at the Thai resort of Cha-Am Hua Hin on the sidelines of ASEAN summit, Saturday did not let their differences derail bilateral relations and side stepped Arunachal Pradesh and planned visit of Dalai Lama to that place which raised the border temperature in the past one month. The nearest the two leaders came to touch upon these issues at their 45-minute long talks held at the Dusit Thani hotel was a comment by Manmohan Singh that ‘neither side should let our differences act as impediment to the growth of functional cooperation between the

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America keen to make a big ticket defence sales to India

New Delhi: The United States appears keen to make big ticket defence sales to India which is has begun a $100 bn modernization of its armed forces. Hitherto, India was largely dependent on Russia and its earlier incarnation Soviet Union. Not any longer with Moscow driving a hard bargain and insisting on hard currency trade. More over quality concerns have made Delhi to turn to other suppliers. For the Obama administration, increased arms sales is a way to increase to jobs at home as the economy is still emerge out of the 2008 meltdown. Already it has given the go

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