Bank of Japan has painted a bleak outlook for Japanese economy for the year 2009, with a 3.1% contraction of the economy. At the same time, it is predicting a recovery of the economy in the second half.
Japan predominantly depends on exports to US and other countries, and a recession in those countries has pulled down most of the key Japanese industries.
Automobiles, engineering products and electronic industries have been badly hit due to crash in exports. It is for the first time in the last six months that Japan is seeing a positive growth rate of Industrial production. A economic recovery of US is a must for Japan to bounce back to positive GDP growth.
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The third phase of the general elections in India, is on today. As of now nearly forty percent of the area have completed the election process, and with the today’s phase, another 20 percent will be covered.
The balance areas will see the election during the next two weeks. The results are expected to be announced by May 16th.
It is important to note that India is the largest democracy in the world with over 100 billion population and the election process is handled in a fairly transparent and efficient manner.
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The WHO has raised the alert level to five, for the Swine Flu, indicating that the transmission from human-to-human has started happening. The WHO fears that the Swine Flu can become a Pandemic anytime and has asked every country to improve their medical facilities on an urgent basis.
US has reported two Swine Flu deaths so far in spite of excellent medical care. And if the Swine Flu spreads into mass population countries like India, then it could become a global disaster in no time.
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The six years of horror for the British troops in Iraq is set to end in the coming months. Already the UK troops have withdrawn out of Basra town which was under their control, by handing over the control to the US commander two months back.
Now more UK troops are set to withdraw out of farther Iraqi towns by handing over the control to local Police and Military officials. This is indeed a welcome relief for thousands of UK families who have seen their beloved ones staying away from them for years together.
Whether this means improvement in Iraq security situation, only time will tell.
There are millions of people in the country who have lost their jobs in the last few years. And there are at least half a million new job losses every month. .And there are also lot of small business people who have seen their business crash and coming to a grinding halt due to the ongoing economic crisis.
And most of these people see their credit rating turning bad due to their repayment defaults / delays.
These people find it difficult to get credit cards for bad credit.
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The Stress-test results on the top US banks is trickling in slowly. US FED resources indicate that the top two leading bankers , the Citi group and Bank of America, might require huge infusion of fresh capital, in order to remain healthy. The report says that they may need the capital in order to clean up their books and continue doing their lending business in a normal fashion.
This has not been taken by the Stock markets nicely. The entire global market was waiting for some bad news, and this news was good enough to pull down the global markets for a day.
With the US FED having only another 130 billion worth of TARP funds, hard decisions are likely to be forced on erring banks, say seasoned analysts. Let us all wait and see how things unfold.
Mobile phones are the life line for most of us because it helps us in many ways. First of all, it takes care of our communication needs thoroughly with the entire world, anytime from anywhere. Then, it also helps us to keep track of all our key events and schedules, and even short notes.
And for many people, mobile phone reflects their status. But there is a big problem people face, whenever they want to move from their current operator. Their existing mobile phone unit becomes useless because they do not know how to do cell phone unlocking. There are lot of people who are stuck with locked Sony Ericsson Idou handsets.
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