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2011, A-Z: anatomy of economics

The year saw new phrases, terms, products and personalities that are likely to shape mainstream thinking in times to come.

business Updated: Dec 31, 2011 02:43 IST
Hindustan Times
yearender,steve jobs,aakash

The year saw new phrases, terms, products and personalities that are likely to shape mainstream thinking in times to come.

AAakash: A $46 (Rs 2300) tablet, a Nano in tech world, brought by NRI brothers Raja and Suneet Singh Tuli.

BBlackberry: Handheld service that failed for a couple of days in a global outage affecting millions of subscribers and hurting business
Black Money: An illegitimate cash economy that continues to thrive, move across exotic global locales and cock-a-snook at authorities.

CChorwad: A sleepy village in Gujarat where Ambani brothers, their families and mother Kokilaben prayed, danced and broke bread together for two-days.

DDo-not-disturb (DND): A number, 1909, to block pesky unsolicited SMSes offering to sell sundry items including pizzas and slimming belts.
Downgrade: Shorthand for loans those are risky. Moody's said it for SBI's portfolio; S&P said it for US government bonds.

EEuro zone: Economic crisis in Europe, triggered by sovereign debt worries in Greece, the cradle of the western civilisation.
EMI: Something that mostly goes up, up and up. Ask any home loan borrower. It only climbed in 2011 after banks and RBI continuously raised interest rates. The art of hawking products online and the science of driving billion dollar valuations for internet start-ups.
FDI in retail: Policy that promises to enable you to shop, shop till you drop in a giant deep-discount superstore in your city.

GGDP: Income of all entities in an economy whose collective earnings grew at a slower clip, threatening to slip further in the coming months.
G: Generations of radio spectrum for telecom services counted in numbers: 2G, 3G, 4G…controversies in allotment and usage come bundled free

HHero: India's very own two-wheeler maker, sans technology, branding, or capital of Honda. It's only Hero now, not Hero-Honda that used to be.

IInflation: A monster that the RBI and the government are struggling to tame in a tug-of-war between rising prices and sliding growth.
Infosys: Change@30 years as NR Narayana Murthy logged out of the software company that fuelled aspirations of millions of middle-class Indians.

JJobs, Steve Jobs: Technology icon who gave the world the iPad, the iPhone, the iPod and the iTunes. Died in October 2011 after losing a battle with cancer.

KKingfisher: A winged entity that failed to take off for many days on low fuel ahead of winter's onset, leaving those who fly on it unhappy and angry.
Kahn, Dominique Strauss: Former IMF boss who bowed out in disgrace facing sexual assault charges that ruined his ambitions of becoming French president.

LLagarde, Christine: French finance minister who succeeded Strauss-Kahn as the IMF chief, but not before a continent-hopping global canvassing spree.

MManesar: Synonym for labour unrest as hundreds of Maruti Suzuki workers struck work in a plant, halting production including that of popular hatchback Swift.
MFN: A status that Pakistan has agreed to give India after more than 15 years of dithering offering equal treatment in terms of tariffs and quotas.
MNP: A telecom customer's right to retain her mobile number but change the company if she is unhappy with the quality of services.

NNoida Extension: A neighbourhood on the eastern borders of the national capital for which farmers and realty companies slugged it out in courts.
NOTW: Cost of sniffing around. Rupert Murdoch was forced to close down the popular News of The World (NOTW), hit by a hacking scandal.

OOpen letter: The genre of collective writing that reminds politicians about the art of clean governance and its importance on business sentiment.
Occupy Wall Street: A syndrome of public angst that spreads very fast against corporate greed, million dollar bonuses and social inequality.

PPolicy Paralysis: An ailment that has hit UPA-II, especially in the last 12 months, after repeated failures to move key reforms. Threatening to turn chronic.

QQSQT: Quarter-se-quarter-tak, a corporate stratagem in times of uncertainty that underline the risks of looking too much ahead.

RRupee: A buck that doesn't seem to stop falling in value after foreign investors cashed out diving to safer havens like US government bonds.

SSpeakAsia Online: A "Ponzi scheme" - a system in which new members enrich the old ones resulting in a fragile financial pyramid.
S&P: Credit-rating agency that downgraded US treasury bonds spreading a global flu in stock markets across the world, including India.
Sensex: A Bombay-based barometer showing erosion of investors' wealth as equity markets slumped nearly 12% over the last 12 months

TTata: Transition at Bombay House as Tata Sons chairman from Ratan Tata to Cyrus Mistry, with a 13-month leadership apprenticeship.

UUnder-recoveries: Revenues foregone for selling fuel at below cost that oil companies justify to raise petrol and diesel prices.

VVikram Akula: A one-time poster boy of microfinance and founder-chairman of SKS, who lost control over the very company he founded in 1998.

WWarren Buffet: A synonym for corporate philanthropy. Billionaire investor is coaxing the rich to pledge half their fortunes to charity visited India in 2011.
Walmart: American superstore waiting, almost endlessly, to set up its first retail store in the world's second fastest growing major economy.

XXUV 5OO: M&M's global cross-over vehicle with which it hopes to take on General Motors, Toyota and Ford worldwide.

YYen: A currency for the rainy day for Indian authorities if the rupee continues to crumble hammered by speculators and global economic crisis.

ZZuckerberg, Mark: Facebook founder who is out to prove that social networking is worth more than $100 bn (Rs 520,000 crore).

First Published: Dec 30, 2011 21:48 IST