Word: downturn
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...night. For most people in Hong Kong, the lives of Lau and his roommates are a world apart, hidden behind gated doors and dark stairways. But this is home to thousands of Hong Kong's urban slum dwellers, who are barely making ends meet and - in this year's downturn - putting off dreams of a better life. Across Victoria Harbour from Hong Kong's central business district, in a neighborhood of bright neon signs and bustling vendors, 33-year-old Lai Man-law has been looking for a job for the past year while living in a mesh-wire...
...macabre mystique that has even piqued international interest: next month, a cage dwelling will be on display in Dusseldorf, Germany, part of an exhibition to raise awareness of the inhabitants' plight. But in Hong Kong, it's reality for a growing number of people, particularly in the current economic downturn, says Sze Lai-shan, a community organizer with the Society for Community Organization (SOCO), a Hong Kong-based poverty advocacy group. In a recent SOCO survey, about 5% of these dwellers were new tenants, forced into these conditions by the recent economic slowdown. The government social policies aren't much...
...layoffs. And the U.S.-based, NRI (Non Resident India) groom - once the most coveted prize at the top of the Indian matrimonial hierarchy and seen by many families in India as their daughter's ticket to a better life - has become the latest casualty of the world's economic downturn...
...past year, the economic downturn and the rise of India as a global player has changed all that. On SimplyMarry.com, another popular online matchmaker service, users' search for NRI men has gone down by 15%, reports Amar. NRI men, for their part, appear to have gotten the hint. There were also 20% fewer postings by men living abroad...
...Following similar logic, private players Jet Airways and Kingfisher, owned by the liquor baron Vijay Mallya, are expanding existing budget operations to try to increase business during the economic downturn. They aren't starting from scratch. Both airlines already had rechristened budget carriers - Jet Lite and Kingfisher Red - acquired in 2007. Now they are transferring capacity to the economy fleets. Kingfisher Red jets are flying more routes; as a result, about 75% of all domestic passengers that now fly with Kingfisher are traveling budget class, up from 50% a year ago. Meanwhile, Jet Airways, India's oldest private player...