World economy
BRIC nations call for a new global financial order
10 Nov 2008
Brazil, Russia, India and China have called for a major revamp of the current global financial system and have sought a rightful place for themselves
![Warren Buffett’s Berkshire reports 77-per cent drop in quarterly profit Warren Buffett’s Berkshire reports 77-per cent drop in quarterly profit](/investments/world_markets/images/warren_buffett_sm_domain-b.jpg)
Warren Buffett’s Berkshire reports 77-per cent drop in quarterly profit
08 Nov 2008
Warren Buffett’s flagship investment vehicle Berkshire Hathaway reported a whopping 77-per cent decrease in income due to the vagaries of a market meltdown.
![IMF predicts global recession IMF predicts global recession](/economy/worldeconomy/images/olivier_blanchard_sm_domain.jpg)
IMF predicts global recession
07 Nov 2008
IMF researchers yesterday predicted a contraction in the economies of developed countries, with emerging economies facing the risk of recession.
Motorola job cuts to affect Indian operations
05 Nov 2008
![China feels the pangs as the world slows down China feels the pangs as the world slows down](/economy/worldeconomy/images/china_flag_domain-b.gif)
China feels the pangs as the world slows down
05 Nov 2008
The global economic slowdown is taking a toll on China, threatening to swell the ranks of its unemployed and reversing the income gains made in recent years.
IMF loosens loan strings, for now
30 Oct 2008
![IMF's $100-billion facility to aid crisis-hit nations IMF's $100-billion facility to aid crisis-hit nations](/organisation/imf/images/us_dollar_domain-b.jpg)
IMF's $100-billion facility to aid crisis-hit nations
30 Oct 2008
IMF will create a $100 billion short-term lending facility (SLF) for making available new cash for countries battered by the financial crisis.
![EU urges China, Gulf States to fund IMF EU urges China, Gulf States to fund IMF](/economy/worldeconomy/images/Gordon_Brown_sm_domain-b.jpg)
EU urges China, Gulf States to fund IMF
29 Oct 2008
UK Prime Minister Gordon Brown, French President Nicolas Sarkozy have appealed to China and the oil rich Gulf states to contribute to the the IMF fund as its own resources may not not suffiice to aid countries hit by the global turmoil.
![Das Kapital sales shoot up amid financial crisis Das Kapital sales shoot up amid financial crisis](/economy/worldeconomy/images/karl_marx_sm_domain-b.jpg)
Das Kapital sales shoot up amid financial crisis
27 Oct 2008
Karl Marx, famous for having predicted the ultimate demise of capitalism as it created an exploitative system that ends up destroying itself, is in the midst of renewed interst in the capitalist world.
IMF bails out Ukraine with a $16.5 billion loan
27 Oct 2008
![Pakistan seeks IMF help Pakistan seeks IMF help](/economy/worldeconomy/images/asif_ali_zardari_sm_domain-.jpg)
Pakistan seeks IMF help
27 Oct 2008
Pakistan has approached the IMF for two-year stand by loan for an undisclosed sum to meet its balance of payments difficulties caused by result of high food and fuel prices and the global financial crisis.
IMF and the World Bank set to increase loans
27 Oct 2008
![IMF approves $2-billion loan for Iceland IMF approves $2-billion loan for Iceland](/organisation/imf/images/geir_haarde_sm_domain-b.jpg)
IMF approves $2-billion loan for Iceland
25 Oct 2008
Iceland becomes the second European nation after the UK in 1976, to receice a $2-billion loan from the IMF to save the country from bankruptcy
![Europe seeks succour from China as financial market crisis worsens Europe seeks succour from China as financial market crisis worsens](/economy/worldeconomy/images/china_flag_domain-b.gif)
Europe seeks succour from China as financial market crisis worsens
24 Oct 2008
While China can maintain its own stability, it is also capable of helping developed countries overcome the crisis, say global leaders.
![Goldman Sachs to slash 10 per cent jobs, 3200 employees at risk Goldman Sachs to slash 10 per cent jobs, 3200 employees at risk](/finance/banks/goldman_sachs/images/goldman_sachs_logo_domain-b.gif)
Goldman Sachs to slash 10 per cent jobs, 3200 employees at risk
24 Oct 2008
Even the venerable Wall Street banker Goldman Sachs has been forcfed to cut jobs to cope with the economic slowdown wrought by the collpse of major banking institutions
![Global leaders' summit in Washington on 15 November Global leaders' summit in Washington on 15 November](/economy/worldeconomy/images/george_bush_sm_domain-b.jpg)
Global leaders' summit in Washington on 15 November
23 Oct 2008
The threat of the financial crisis trigerring a deep and prolonged economic slowdown has prompted world leaders to meet in Washington next month
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Millets, a healthier and cheaper substitute to wheat and rice, are indigenous to many parts of the world, especially in the semiarid tropics of Asia and Africa, and offers a big scope for expanding production and consumption in the foodgrain deficient African continent
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