Finance
Unisys to axe 1,300 jobs; suspends salary hikes
Dec 23rd
IT services and solutions provider Unisys Corporation has said it will slash as many as 1,300 jobs across the world and plans to forgo any salary hike next year in most of the countries where the company operates.
“The headcount reductions have begun and will continue into 2009… the company also plans to forgo 2009 salary increases in most of the company’s markets,” Unisys Corporation said in a statement.
Unisys said that it is exploring a wide range of cost-reduction options and that actions currently underway are expected to reduce its annual cost structure by more than USD 225 million. (more…)
More >World Bank to aid India banks in new lending plan
Dec 15th
A $14 billion World Bank lending plan for India, the biggest ever by the global lender to Asia’s third-largest economy, will help recapitalize state-run banks facing liquidity strains and target the country’s poorest regions, a senior Bank official said.
In an interview with Reuters, Rachid Benmessaoud, the Bank’s acting country director to India, said some $3 billion of the loan will focus on areas most affected by the global financial crisis, including state-owned and housing banks, small- and medium-sized enterprises and infrastructure.
“The capital market is drying up in India and we have seen that a number of commercial state banks are More >
Citigroup to slash 52,000 jobs, sees hard 2009
Nov 18th
NEW YORK (Reuters) – Citigroup Inc revealed plans to cut 52,000 jobs by early next year in a dramatic move to restore the No. 2 U.S. bank to health as it combats mounting debt losses and sagging economies worldwide.
The cuts announced by Chief Executive Vikram Pandit on Monday affect 15 percent of Citigroup’s workforce, and are in addition to 23,000 jobs eliminated between January and September.
Citigroup plans to slash expenses by as much as 20 percent, and spend a total of $50 billion to $52 billion in 2009. That compares with $61.9 billion over the last four quarters.
The cuts will More >
Is India poor, who says? Ask Swiss banks
Sep 12th
Hi Friends, I got this mail with shocking revelation from my journo friend from Delhi. Read it find out how we are being swindled.
——————————- WITH personal account deposit bank of $1500 billion in foreign reserve which have been misappropriated, an amount 13 times larger than the country’s foreign debt, one needs to rethink if India is a poor country?.
DISHONEST INDUSTRIALISTS, scandalous politicians and corrupt IAS, IRS, IPS officers have deposited in foreign banks in their illegal personal accounts a sum of about $ 1500 billion, which have been misappropriated by them. This amount is about 13 times larger than the country’s foreign debt. With More >
Lazy Money in Savings Account?
Sep 9th
Today saving account gives an interest of 3.5%. Inflation is more than 10%. Money in the savings bank is actually loosing its value everyday. Ideally three times of your monthly income should be kept in liquid form. This is we call emergency money. Best liquid form of money is keeping in saving account. We cannot keep it in stocks, equity fund etc for high risk. We also cannot keep this money in bond of fixed deposit due to problem of liquidity. Are there any better way to keep the money in liquid form?
Currently there are some mutual funds which invests More >
Money
Aug 31st
While visiting Canada from the U.S., when I handle Canadian money it seems quite strange as if it were money from the game, Monopoly. That thought inspired today’s poem.
Monopoly Money
Money
by Harry Kottler
When you’re in another country
The money there seems just for play.
Like money used in the game, Monopoly,
You’re not sad when it goes away.
You’re not sad when you have to spend it.
You’re not sad when you go to jail.
You’re not sad that you have to tend it.
When you lose it, you do not wail.
Actually, all money is just play money.
Actually, all money is just on loan.
Actually, it is very funny
That More >
How to Multiply Your money.
Aug 19th
Hello every one, I want to share my personal experience in multiplying money. Before I let you know the formula for money making, I will let you assume a practical example that how the money gets multiply.
If you deposit 5000 bucks every year, for 20 years @ 10% p.a. How much you will get in returns after 20 years can you guess…….? That means you deposit 5000 bucks every year @10% p.a. for the period of 20 years. At the end of 20th year you will have 315,012 Bucks!!! It’s 3 times your investment!!
So now I will share with you the success More >
Sensex closes 300 points up
Aug 1st
Indian equity markets made up their losses on Friday afternoon to close well in the green.The 30-share BSE benchmark index, the Sensex, which opened at 14,064.26 points, touched a high of 14,682.33 before closing at 14,656.69. It went up by 300.94 points or 2.10 per cent compared to its closing figure on Thursday.
The S&P CNX Nifty index of the National Stock Exchange, which opened at 4,331.60 points, closed at 4,413.55 points. It went up by 80.60 points or 1.86 per cent from its previous close.
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Aam Admi and inflation
Jul 6th
I paid more for the same distance.
Few days back I went to Hyderabad, my home-town. As I had luggage with me, I took an autorickshaw from Secunderabad Railway Station to my home in Dilsukhnagar. I paid Rs 100/- to the autowala. Earlier, I used to pay Rs 60/- for the same distance.
We spent more and ate less.
The next day my wife took me to the market to buy some essentials. Cost of fine Sona Masoori rice went up from Rs 18 per kg to Rs 25 per kg. My wife wanted to buy 15 kgs of rice, but she ended More >
6 Major Financial Steps of Your Life
Jun 22nd
Handling the Major Financial Milestones in Your Twenties
Whether you are getting married, buying your first home or starting a new job, you will be worried about how this will affect your financial picture. As you approach each of these major life events, it is important to consider the financial side of each situation. You can continue to make great financial decisions, but you may need to adjust your current spending habits in order to reach your new goals.
1. Getting MarriedOne of the most exciting times in when you are about to get married. It is thrilling to begin planning More >