Indian economy growing at 7%

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Indian Prime Minister Manmohan Singh said that his country's economy will grow by 7% inthe current fiscal year which ends March 31 / March, is expected to increase the ratio to 9or 10% in the medium term.

  Singh added that despite the unfavorable economic environment in the world, the Indian economy will achieve 7%, adding that the main factor for growth is the high saving rate in the country.

  He explained that the savings rate, which currently stands at between 33 and 35% of the gross domestic product will help facilitate the achievement of growth objectives.

It is noteworthy that there were expectations of India for the weak growth in the current fiscal year after 6.9% in the quarter, which ended in September / September, the lowest in two years.

Singh said that efforts to curb inflation and that resulted in food inflation in the country has fallen significantly after reaching more than 10% in the past two years.

But the rate of core inflation based on wholesale price index is still high, currently stands at9.115% according to the latest numbers registered.

Source: German

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Israel increase its defense budget

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Israel announced a significant increase in Mizaantha military to counter what it called external challenges, the transformation is contrary to previous commitments on the government's intention to reduce defense spending to finance social reforms.
 The announcement came in the words of Prime Minister Benjamin Netanyahu on Sunday in a news conference after a weekly cabinet meeting, pointing out that he decided to increase the defense budget by three billion shekels (780 million).
 Netanyahu justified the decision to cut the defense budget would be a grave mistake in view of developments in the region.
 ReasonsIn a statement issued by his office later, Netanyahu is considered that "every reasonable person" sees changes in the region recognizes that "have an impact on the national security strategy of the State of Israel, and on our ability to meet new challenges, and the lack of stability."
 Under the new resolution, Israel will spend an additional three billion shekels to the defense budget this year which should have been about $ 50 billion shekels, without any change from last year's budget.
 Netanyahu said that some of the funds will be provided through the pressure of the expenses of government ministries, in addition to savings from within the army, which had intentionally to sell assets such as military bases, and prime real estate properties, as well as more efficient use of the budget that contribute to the United States where three billion dollars annually.
ArmyFor his part, criticized the Israeli Defense Minister Ehud Barak in an official statement, he called the Sundays routine sharp contraction of the defense budget, pointing out that it was in 1986, equivalent to 17% of GDP, compared with only 6% in last year's budget.
 Barak stressed that the reduction of defense spending would put the army on the red line with respect to capacity, training and preparations to meet the potential challenges.
 Netanyahu referred to that initially supported the recommendations contained in the report prepared by the Economic Manuel Trajtenberg means to identify and respond to the demands of the social protest movement that shook the unprecedented Israel late last summer.
 ConflictAmong those recommendations to reduce the defense budget, which amounted to about $ 14 billion, which raised the political Chahana between Treasury officials and leaders of national security.
 Despite the apparent victory for the defense officials, they are wary about the changes in the budget, saying they may receive additional increase this year and expect to be reduced later.
 He noted local observers that the Israeli decision reflects the way of Tel Aviv with the strategy map was drawn dramatically during the past twelve months Israel lost its regional alliances with both Turkey and Egypt, and facing the alliance potential between the main Palestinian factions Palestinian National Liberation Movement (Fatah) and the MovementThe Islamic Resistance (Hamas), as well as the current situation in Syria and growing fears of the Iranian nuclear program.

   Source: Agencies

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Deleted and the British financial sector jobs

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Companies plan to delete the British financial sector jobs at a rapid pace as a result ofworsening crisis of sovereign debt in the euro area, which has shaken confidence in the last three months of last year, according to a survey released today.

This approach to cost-cutting comes despite the improvement in the volume of economic activity and increased profits during the last quarter of the financial sector, according to a poll conducted by CNN. Me. Any - the largest bloc to defend the interests of companiesoperating in the sector - in cooperation with the Office of Audit PricewaterhouseCoopers.

He says chief economic adviser to the AC. Me. Mccaffrta any entity that financial sector companies have become less optimistic and employ fewer, he said, adding that there aregrowing concerns of the sector and the opportunities available to funding constraints.

Mccaffrta and adds that banks, insurance companies and asset management in Britain is planning to remove 11 thousand additional jobs during the first quarter of 2012, which exceeds what cropped in the last quarter and is estimated at nine thousand jobs.

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Financial district
According to official statistics that the financial sector reduced the number of jobsavailable to him by 81 thousand between 2008 and the end of the third quarter of 2011. He concluded a separate report that the number of vacancies in the financial district in Londonin 2011 decreased by 8% compared to 2010.

The decline in employment in the financial sector over the last month of 43% over the same month of 2010, according to an employment agency in Britain, the rate ofcandidates for each job sector in 2011 was three to two in 2010.

The profits of investment banks hit hard by the turmoil resulting from the crisis in the euro area, which is paid to the deletion of nearly 130 thousand jobs last year, according tostatistics of the Reuters news agency.

She said 13% of financial firms participating in the survey they had reduced the number of employees in the last quarter of 2011, and 18% of companies plan to delete jobs in thenext three months.

She said 29% of the participating companies it will invest less in real estate and buildings,and 10% reduced its budget for advertising, the first decline in the latter for more than two years.

Source: Reuters

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