Recession Causes about 150,000 Indian Workers Return Home from Gulf

New Delhi, July 8 : Nearly 50,000 to 150,000 Indian workers, most of them from the Gulf countries, have probably returned to the country due to the global economic slowdown, Minister for Overseas Indian Affairs Vayalar Ravi informed parliament Wednesday.
In his written reply to a question, Ravi told the Lok Sabha that the workers in [...]

Divorces are down, Hail to Recession

As this year’s wedding season approaches, you may be finding fewer invitations filling up your mailbox. But don’t worry; it’s probably not because you’ve been a bad friend.
The $60 billion a year wedding industry is hurting as much as the rest of the economy, according to a recent Bloomberg article. And with couples spending an [...]

IMF Chief warns of worse than expected 2009

Paris: The head of the International Monetary Fund says the world economy may perform even worse than his forecasters predicted only three weeks ago.
The IMF said January 28 the global economy will grow by only 0.5 per cent this year. That would be the slowest pace since World War II and is a sharp reduction [...]

Half-million lost jobs in India.

New Delhi, Feb 20- An estimated 500,000 jobs were lost in India from September to December last year in areas like textiles, automobiles and information technology, and the actual numbers across the country could be higher, parliament was informed Friday.
Quoting a study by the labour ministry, Corporate Affairs Minister told the Lok Sabha, the lower [...]

Couples find abortion way out of recession blues in Hyderabad

Couples find abortion way out of recession blues in Hyderabad
19 Feb 2009
HYDERABAD: Economic recession seems to be forcing couples into resorting to desperate measures, including abortion to tide over the crisis.
In the wake of slowdown and job losses, several women are getting their foetuses aborted in a bid to lessen their
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Dubai is Dying

DUBAI, United Arab Emirates
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RECESSION – Indians flee Dubai as dreams crash

Mumbai/DUBAI – JAN 14: It’s the great escape by Indians who’ve hit the dead-end in Dubai.

Local police have found at least 3,000 automobiles — sedans, SUVs, regulars — abandoned outside Dubai International Airport in the last four months. Police say most of the vehicles had keys in the ignition, a clear sign they were left [...]