Asian Development Bank on Wednesday lowered India's economic growth forecast for FY2019 to 5.1 per cent on slowing job prospects, rural distress exacerbated by poor harvest and credit crunch. Growth in FY2020 is likely to recover thanks to this support, low oil prices, and a weakening rupee, but risks to the projections remain tilted to the downside, it said on India.
'Set aside around six months' monthly expenses for emergencies.' 'Keep this money in safe and liquid options, such as liquid funds and fixed deposits.'
N R Narayana Murthy, co-founder of Infosys, blamed the venture capitalist community for inculcating a culture among entrepreneurs to chase growth at all costs. He said the VC model of investment looked like a ponzi scheme. "I would hold venture capitalists responsible who propounded the theory that only the top-line is important and not the bottom-line. "I think that is completely wrong. In many ways it looks like a ponzi scheme.
Nokia dominated around 40 percent of the world's mobile phone industry in 2008, but its products were eclipsed by touch-screen smartphones made by Apple and Samsung.
Corus currently employs about 42,000 people and a little over half of them are stationed in the United Kingdom. A company spokesperson told Business Standard that jobs will be cut in three plants - 1,100 in South Wales, 1,400 in the United Kingdom and another 1,000 in Holland.
'Everyone I know has somebody kidnapped or murdered by the terrorists.'
Firm attributes move to pandemic and legal spat with Fiat Chrysler, says it is in line with group's strategy to re-think capital allocation and drive efficiency.
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