Indians drive entry-level Audis, BMWs to get a taste of luxury

Rising disposable income, wider dealership networks and attractive finance schemes are helping more Indians indulge their fancy for upscale marques. Over the last 3-4 years, sales of entry level models in this segment — BMW X1, 3 Series, Audi Q3, A4 and Mercedes Benz A Class, B Class, C Class — have tripled to 12,000 cars from 4,000. Premium saloons have been hit though with sales of models such as the Honda Accord, Toyota Camry, SkodaSuperb and Hyundai Sonata almost halving to 4,000 .

Consumer goods sales hit close to a 10-year low

Sales of consumer goods slowed close to a 10-year low, suggesting that Indians are making deep cuts in spending and preparing for things to get worse before they get better amid high inflation and an economy that’s yet to show any sign of revival.

While India’s biggest cities have been hit the hardest, rural and other areas are also feeling the slump’s effects.

Disruptive Technology to replace humans in BPO services

IPsoft, which relies on artificial intelligence to manage computer networks, is ready to disrupt the business process outsourcing (BPO) industry by using what it calls “cognitive technology” that enables machines to do the work of humans, the India-born founder of the New York-based company said.

Credit crisis begins to cripple Chinese cities

As the Chinese economy boomed, few cities soared faster or higher than Shenmu, a community of nearly 500,000 in northwestern China.But a painful credit crisis is now spreading across Shenmu and cities nearby, as thousands of businesses have closed, fleets of BMWs and Audis have been repossessed and street protests have erupted.

ECB cannot solve euro zone crisis – Jens Weidmann

The European Central Bankcannot solve the euro zone crisis,Bundesbank chief Jens Weidmann told economists on Sunday, pressing the bloc’s governments to get their economies in shape and tighten their fiscal rules.