Global IT spending to dip 6 percent in 2009: Gartner

October 7th, 2009 WASHINGTON - The US federal budget deficit tripled to about $1.4 trillion for fiscal year 2009 in the midst of the worst economic decline since the Great Depression, the office that keeps track of spending for Congress said Wednesday. The figure represented about 9.9 percent of gross domestic product (GDP), the highest percentage since 1945, the Congressional Budget Office said in a statement.

July 27th, 2009 NEW DELHI - India's fixed-line telephone market will grow by 22 percent to reach Rs.5,500 crore (Rs.55 billion/$1.1 billion) by 2013, says a report by IT research and advisory firm Gartner. "The Indian fixed-line market will see growth from broadband and Internet access sectors, which will together grow at the rate of 22 percent to reach Rs.55 billion by 2013," the report released here Monday said.

July 12th, 2009 Business travel at a glanceDOMESTIC TRAVEL PIE: $641 billion in 2007 spending by U.S. residents. BUSINESS TRAVEL PORTION: $212 billion in 2007 spending.

July 10th, 2009 BANGALORE - India's IT bellwether Infosys Technology is bracing for a flat to lower revenue growth till recovery takes place by mid-2010, a top company official said Friday. "We hear from clients that recovery will begin from the middle of 2010.

July 7th, 2009 China's 2Q growth may top 7.5 pct, researcher saysBEIJING — China's economy is improving and growth might top 7.5 percent for the quarter that ended in June, a central bank researcher said in an official journal. Growth is benefiting from Beijing's stimulus spending and rising investment and consumption, said Zhang Jianhua, chief of the bank's research bureau, in an article in the July issue of the bank's magazine, China Finance.

June 30th, 2009 Turkish economy shrank 13.8 percent in Q1ANKARA, Turkey — Turkey's economy shrank by a painful 13.8 percent in the first quarter compared to the same quarter a year ago as foreign trade contracted sharply amid the global recession, the Turkish Statistics Institute announced on Tuesday. Exports declined by 41 percent in the year to May while imports dropped by 43.9 percent, the institute said.

June 22nd, 2009 World Bank cuts 2009 global growth forecastBEIJING — The World Bank has cut its 2009 global growth forecast, saying the world economy will shrink by 2.9 percent and warning that a drop in investment in developing countries will increase poverty. "The global recession has deepened," the Washington-based multilateral lender said in a report.

June 18th, 2009 World Bank raises China 2009 growth forecastBEIJING — The World Bank raised its 2009 economic growth forecast for China from 6.5 percent to 7.2 percent due to its stimulus-driven investment boom but cautioned Thursday it was too soon to say a sustained recovery was on the way. The stimulus impact is bigger than expected and will "strongly support growth," said Ardo Hansson, the bank's lead China economist.

June 18th, 2009 World Bank raises 2009 China growth forecastBEIJING — The World Bank is raising its 2009 growth forecast for China due to the country's stimulus-driven investment boom. But it also cautions that it is still too soon to say a sustained recovery is on the way.

June 9th, 2009 NEW DELHI - The IT industry worldwide grew by an estimated 8.2 percent in 2008 because of a good six to eight months of business as usual despite the meltdown, though Indian exporters took a beating, leading IT market researcher and consultancy Gartner said Tuesday. The industry recorded a revenue of $806 billion in 2008 against a turnover of $745 billion in 2007.

April 29th, 2009 Taiwan's Acer says quarterly profit sinks 31 pctTAIPEI, Taiwan — Taiwanese computer giant Acer Inc. said Wednesday its first-quarter profit declined 31 percent over the same period in 2008 because of contracting revenue for its products amid the global slump.

April 22nd, 2009 BANGALORE - India's third largest IT bellwether Wipro Ltd, which resisted global meltdown to post double-digit growth in fiscal 2008-09, has succumbed in the beginning of the new fiscal (2009-10) to project lower revenue guidance from its global IT services business. 'Flat sequential growth and uncertainty in a subdued environment have made us project lower revenue guidance from global IT services in the range of $1-1.03 billion for first quarter (April-June) of FY 2010,' Wipro chief financial officer Suresh Senapaty told IANS here Wednesday.

March 25th, 2009 NEW DELHI - India's aviation industry is likely to see a 6.8 percent fall in demand and 4 percent drop in capacity in 2009 due to the 'rapid deterioration of the global economic conditions,' an international air travel lobby said Tuesday. 'Overall, India is expected to see a 6.8 percent fall in demand but only a 4 percent drop in capacity,' Giovanni Bisignani, the director general of the International Air Transport Association (IATA), said in a statement.

March 19th, 2009 NEW DELHI - India's economy will grow by at least 5 percent in 2009-10, a Planning Commission member said here Wednesday. 'We should see at least a 5 percent growth in GDP (gross domestic product) in 2009-10.

January 19th, 2009 NEW DELHI - India's economic growth will fall to 5.8 percent and inflation to one percent in the next fiscal, a Goldman Sachs report released Tuesday said. 'The Indian economy will go through a challenging time in 2009.