A2Z

The news that there is a risk of economic recession in America this year is worrying the world. US GDP has declined for two consecutive quarters this year. US GDP shrank by 1.6 percent in the first quarter of this fiscal year. The second quarter results are due this weekend. According to the available statistics, the GDP is likely to decrease this time as well. When reporters questioned American President Biden on this issue, he concluded that there is no possibility of an economic recession. But the reality is far away from his words. Experts are worried that if there is an economic recession in America, the impact will be heavy on Indian tech companies. But our tech giants are of the opinion that there is no possibility of economic recession in America. For example, Infosys expects its revenue to grow by 14-16%. Economic experts say that the statistics are not so promising. Another tech giant Wipro also faces a similar situation. The company's EBIT (earnings before interest and t...

Under the leadership of Finance Minister Nirmala Sitaraman, the Government of India (GoI) has consolidated 10 Public Sector Banks into 4 banks. This action came into effect on April 01 st , 2020. At present, there are 12 banks in the public sector and the plan is to reduce the number to 4-5. It seems that the central government is planning another round of mergers of public sector banks. The government has recognized that the small banks are facing problems of loan evasion, unfavorable economic conditions, and difficulty in raising funds. With this, it is believed that only the big banks can survive in the long run. As part of this, the Modi government first merged five subsidiary banks of SBI and Bharatiya Mahila Bank in 2017. In 2019, Dena Bank and Vijaya Bank were merged with Bank of Baroda. Prior to this, the government had merged five associate banks of SBI and Bharatiya Mahila Bank with India’s largest lender SBI. With this, SBI became a giant bank. Then the second phase complete...

  President Rajapaksa, who fled from Sri Lanka, went to Maldives with 15 family members in a military plane, including four brothers and his son Nikal. As per the sources, he left to Male which is the capital for Maldives. Dramatic developments took place in Sri Lanka, which is reeling from economic and political crisis. There were reports that President Gotabaya Rajapaksa tried to flee the country along with Sati. Officials also said that he is ready to flee the country by air and water. He first tried to go to Dubai by air. However, he was stopped by immigration officials at the airport. Officials said that they tried to flee to Dubai in a naval patrol vehicle by sea. President Rajapaksa who announced the resignation on July 13 th , has put condition that he will resign once he is allowed to leave Sri Lanka. It is known that he left his official residence when protesters attacked him. After that, he decided to go to Dubai, officials said. It is believed that by leaving the countr...

One is the President, the other is the Prime Minister and two more were Ministers. The other is the Chief of Staff of the Prime Minister. For two decades, the Island country is in their hands. Corruption is like water under the carpet in the name of nepotism. That leads to destroying the Sri Lankan economy. The current developments are proof of how the Rajapaksa family has wreaked havoc on the island nation. Chamal (79), Mahinda (76), Gotabaya (73) and Basil (71) are the four brothers of Rajapaksa. Among them, Mahinda was the president between 2005-15. Earlier he was the Prime Minister during 2004-05. At this time, the finance department was also seen for the period 2019-21. In 2018, even the Prime Minister landed in the middle. He took up the same position again for a year and continued until recently.  Gotabaya has been the president since 2019. Chamal served as Minister of Shipping, Aviation, Irrigation, and Speaker of Parliament (2010-15). Basil is an MP. Till recently held the...