Word: demands
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...room rates in key cities had grown by 40% year-on-year in 2007, and a report by Jones Lang LaSalle Hotels, the hotel investment and advisory service provider, had predicted India would need to add 150,000 new rooms in the next four years to keep up with demand. Now, much like other formerly glowing sectors like retail and real estate, things are rapidly rolling downhill. "Things will slow down primarily due to three reasons," says Sudeep Jain of Jones Lang LaSalle Meghraj, "Due to the economic slowdown, demand has already dipped. The terror attacks led to bookings being...
...range and natural gas cut in half from a high of $14 per thousand cubic feet, the domestic energy sector is now at a critical "tipping point," Perryman says. If prices dip lower, he adds, the pace of the slowdown will quicken as domestic oil and gas fields that demand expensive, high-technology drilling methods will be shut. (See pictures of the remains of Detroit...
...plan will move $13.4 billion in funds from the Troubled Asset Relief Program (TARP) to GM and Chrysler, with GM getting $9.4 billion and Chrysler $4 billion. The money will be in the form of three-year loans, but the terms permit the Obama Administration to demand earlier repayment - presumably triggering bankruptcy - if it believes the restructuring goals are not being met. The near-term target is a March 31 deadline for the automakers to show a plan for achieving long-term viability. Based on White House and Treasury descriptions of the plan, this will be less an acid test...
...imported items that are specially marked down, giving new meaning to a "yen appreciation" sale. But a major concern for the Japanese economy is that currency rates, the dollar-yen in particular, are pummeling Japanese exporters as their products lose competitiveness abroad. Coupled with a general decline in global demand, the weak dollar-yen is dumping ice water on corporate profits at titans like Sony and Honda...
Iraq's parliamentarians, who rarely shy away from showboating, didn't disappoint either. There were rowdy scenes in the legislature as lawmakers from anti-U.S. cleric Muqtada al-Sadr's bloc interrupted a discussion about the fate of non-U.S. troops in Iraq to demand al-Zaidi's immediate release. Noisy exchanges ensued, culminating with the mercurial speaker, Mahmoud al-Mashhadani, threatening to resign. "I can't work in such a situation!" he shouted, according to lawmakers who attended the session. It's not clear if al-Mashhadani, who is known for his outbursts, will follow through...