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Showing posts from November 9, 2008

Fear of recession in Asia

Asian markets tumbled down on fear of recession has put the asian stocks
dipping and fear of recession reached from US has taken the cpatains of the industry to tighten their belts.
2008-11-12 05:51:55 - Prime Minister Dr Manmohan Singh has ruled out
immediate reduction of petroleum products. He said that high prices of
aviation fuel were reduced so that the employment potential in
aviation sector is not affected. High aviation fuel prices resulted in
financial losses to oil companies.

Speaking to reporters on board in his royal aircraft way back from
Doha, Dr. Singh said that the government is committed to provide all
possible help to trade and industry to check the adverse impact of
global economic melt down.

But refused reduction in oil price,thus paving way for spiralling
inflation to continue an adverse chain reaction in further vigrous and
deepening of Indian recession to follow soon with fear of negativity
in economic cycle.

Steel Secretary P K Rastogi has said that the SAIL's Rourkela pl…