My little corner

The U.S. fell two spots to fifth in a ranking of national Internet and phone systems, while China and India, which lead the world in wireless customers, were the top performers in the so-called BRIC markets, which also include Brazil and Russia. China climbed nine spots to 37th, and India leapt 11 to 43rd, helped by network investments and the decreasing cost of using services in those countries. Russia fell six spots from last year to 80th place, and Brazil's ranking was little changed at 61st, reports Economic Times. "There's a widening gap between the BRICs - China and India are growing so much," said Irene Mia, Senior Economist of the Global Competitiveness Network at the World Economic Forum and Co-editor of the report. On the other side talking about the U.S, Soumitra Dutta, Professor of Business and Technology at Insead and Co-editor of the report said, "The U.S. has to be more decisi...

Do you carry cash in your pocket for shopping, or dependent on credit or debit cards? If you are habituated to the "plastic money', it's necessary for you to know that which is better - credit cards or debit cards? While both seem to look similar, they are quite different in the way they work and the services they offer. If you do the shopping through credit card, it enables you to borrow money while making purchases. The borrowed amount is not directly debited from your account at the time of purchase. You will be getting the bill every month for the sum total of your purchases. You have an option to pay your bill either in full or in part. Paying part will attract an interest on the balance. And if you do the purchasing through debit card, it ensures that you do not spend beyond your means. As soon as you swipe the card, it gets reflected in your bank account. The term 'plastic money' is more relevant in case of debit cards since the risk of carr...

London: A new study has shown that excessive noise and lack of privacy, as well as constant distraction in open plan offices can increase the stress levels of workers. The study involving 20,000 British professionals revealed that 56 percent of the respondents complained of lack of privacy, 55 percent about poor temperature and 60 percent about lack of quiet space. Moreover, 20 percent drop in productivity was also blamed on poorly planned office space. One in three was concerned about lack of daylight and noise levels, reports dailymail.co.uk. Britons have some of the longest working hours in Europe, with one in five spending more than 45 hours a week in the office. The study was led by researchers from University College London and environment consultants BRE.

Gone are the days, when India used to look at NASA or other satellite centres to launch satellites. Today, India is the first country to orbit 10 satellites in one single mission and the facilitator for a major discovery of water molecules and water ice on the lunar surface. Also, it is one of the six in the world with capability to make satellites and launch them from its own soil. Dr. K Radhakrishnan, Chairman - Space Commission, Secretary - Department of Space and Chairman - ISRO said, "When I entered ISRO, it was in nascent phase, and now the heights we have reached in the space sector, is achieved with a shoestring budget as low as three percent of NASA's expenditures on space programmes." Adding to it, he also said that India is a front runner in the global comity playing pre-eminent roles in the International forums of space agencies and space-faring nations. According to ISRO's report, India is developing a winged reusable rocket, and the ISRO has...

No: 1 Name: William Gates III Age: 53 Fortune: self made Source: Microsoft Net Worth: $40.0 bil Country Of Citizenship: United States Residence: Medina, Washington , United States, North America Industry: Software Marital Status: married, 3 children Education: Harvard University, Drop Out Software visionary regains title as the world's richest man despite losing $18 billion in the past 12 months. Stepped down from day-to-day duties at Microsoft last summer to devote his talents and riches to the Bill & Melinda Gates Foundation. Organization's assets were $30 billion in January; annual letter lauds endowment manager Michael Larson for limiting last year's losses to 20%. Gates decided to increase donations in 2009 to $3.8 billion, up 15% from 2008. Dedicated to fighting hunger in developing countries, improving education in America's high schools and developing vaccines against malaria, tuberculosis and AIDS. Appointed Microsoft Office veteran Jeffrey Raikes c...

No: 2 Name: Warren Buffett Age: 78 Fortune: self made Source: Berkshire Hathaway Net Worth: $37.0 bil Country Of Citizenship: United States Residence: Omaha, Nebraska , United States, North America Industry: Investments Marital Status: widowed, remarried, 3 children . Education: University of Nebraska Lincoln, Bachelor of Arts / Science Columbia University, Master of Science Last year America's most beloved investor was the world's richest man. This year he has to settle for second place after losing $25 billion in 12 months. Shares of Berkshire Hathaway down 45% since last March. Injected billions of dollars into Goldman Sachs, GE in exchange for preferred stock last fall; propped up insurance firm Swiss Re in February with $2.6 billion infusion. Admits he made some "dumb" investment mistakes in 2008. Upbeat about America's future: "Our economic system has worked extraordinarily well over time. It has unleashed human potential as no other system has,...

No: 3 Name: Carlos Slim Helu Age: 69 Years Fortune: self made Source: telecom Net Worth: $35.0 bil Country Of Citizenship: Mexico Residence: Mexico City , Mexico, Latin America Industry: Communications Marital Status: widowed, 6 children Economic downturn and plunging peso shaved $25 billion from the fortune of Latin America's richest man. Global recession testing his ability to live up to the principles he sets for his employees: "Maintain austerity in times of fat cows." Son of a Lebanese immigrant bought fixed line operator Telefonos de Mexico (Telmex) in 1990; now controls 90% of Mexico's telephone landlines. Would be a billionaire based on his dividends alone. Biggest holding: $16 billion stake in America Movil, Latin America's largest mobile phone company with 173 million customers. America Movil and Telmex reportedly planning to jointly invest $4 billion to bolster telecom infrastructure in Latin America. Buying up cheap media, energy and retail as...

No: 4 Name : Lawrence Ellison Age: 64 Fortune: self made Source: Oracle Net Worth: $22.5 bil Country Of Citizenship: United States Residence: Redwood City, California Industry: Software Marital Status: married, 2 children Education: University of Illinois, Drop Out, Database titan continues to engulf the competition; Oracle has racked up 49 acquisitions in the past 4 years. Bought BEA Systems for $8.5 billion last year. Still sitting on $7 billion in cash. Revenues up 11% to $10.9 billion in the six months ended November 30; profits also up 11% to $2.4 billion. Stock down 25% in past 12 months. Invested $125 million in Web software outfit Netsuite; took public in 2007, stock has fallen 80% since. His shares still worth $300 million. Chicago native studied physics at U. of Chicago, didn't graduate. Started Oracle in 1977. Public 1986, a day before Microsoft. Owns 453-foot Rising Sun; built a smaller leisure boat because superyacht is hard to park. Squabbling in court with Sw...

No: 5 Name: Ingvar Kamprad & family Age: 83 Fortune: self made Source: Ikea Net Worth: $22.0 bil Country Of Citizenship: Sweden Residence: Lausanne , Switzerland, Europe & Russia Industry: Retailing Marital Status: married, 4 children. Peddled matches, fish, pens, Christmas cards and other items by bicycle as a teenager. Started selling furniture in 1947. Opened first Ikea store 50 years ago; stores's name is a combination of initials of his first and last name, his family farm and the nearest village. Retired in 1986; company's "senior adviser" still reportedly works tirelessly on his brand. Discount retailer now sells 9,500 items in 36 countries; prints catalog in 27 languages. Revenues up 7% to $27.4 billion in fiscal year 2008. Opened tenth store in China this February; planning to open first in Dominican Republic later this year. Three sons all work at the company. Thrifty entrepreneur flies economy class, frequents cheap restaurants and furnishes ...

No: 6 Name: Karl Albrecht Age: 89 Fortune: self made Source: Aldi Net Worth: $21.5 bil Country Of Citizenship: Germany Residence: Mulheim an der Ruhr , Germany, Europe & Russia Industry: Retailing Marital Status: married, 2 children. Germany's richest person owns discount supermarket giant Aldi Sud. Retailer faring well amid economic downturn; analysts expect its 2008 sales to be up 9.4% to $33.7 billion. Sales in the U.S. up estimated 20% last year to $7 billion. Plans to open 75 U.S. stores in 2009, including first in New York City. With younger brother, Theo, transformed their mother's corner grocery store into Aldi after World War II. Brothers split ownership in 1961; Karl took the stores in southern Germany, plus the rights to the brand in the U.K., Australia and the U.S. Theo got northern Germany and the rest of Europe. Retired from daily operations. Fiercely private: little known about him other than that he apparently raises orchids and plays golf.

No: 7 Name: Mukesh Ambani Age: 51 Fortune: inherited and growing Source: petrochemicals Net Worth: $19.5 bil Country Of Citizenship: India Residence: Mumbai , India, Asia & Australia Industry: Manufacturing Marital Status: married, 3 children. Education: University of Bombay, Bachelor of Chemical Engineering Stanford University, Master of Business Administration Oversees Reliance Industries, India's most valuable company by market cap despite stock falling 40% in past year. Merging his Reliance Petroleum with flagship Reliance Industries. As part of deal, will exercise right to buy back Chevron's 5% stake in Reliance Petroleum at $1.20 per share—the same price at which he sold it 3 years ago. Today the stock trades for $1.80 a share. Increased stake in Reliance Industries in October; paid $3.4 billion to convert 120 million preferential warrants into shares. Reliance Petroleum refinery on India's western coast began operating in December despite falling global ...

No: 8 Name : Lakshmi Mittal Age: 58 Fortune: inherited and growing Source: steel Net Worth: $19.3 bil Country Of Citizenship: India Residence: London , United Kingdom, Europe & Russia Industry: Manufacturing Marital Status: married, 2 children. Education: St Xavier's College Calcutta, Bachelor of Arts / Science Indian immigrant heads world's largest steel company; ArcelorMittal was formed via hostile takeover 3 years ago. Stock in company makes up bulk of his fortune; shares at a 4-year low with steel prices down 75% since last summer. Company forced to pay heavy fines after a French antitrust investigation found 10 companies guilty of price-fixing in European steel markets. Arcelor posted $2.6 billion loss in most recent quarter; announced plans to slow acquisitions, cut ...

No: 9 Name: Theo Albrecht Age: 87 Fortune: self made Source: Aldi, Trader Joe's Net Worth: $18.8 bil Country Of Citizenship: Germany Residence: Foehr Industry: Retail Marital Status: married, 2 children. Runs discount supermarket group Aldi Nord; firm holding up amid economic downturn. Sales expected to hit $31 billion in 2008. After World War II he and older brother Karl transformed their mother's corner grocery into Aldi. Brothers split ownership in 1961; Karl took the stores in southern Germany, plus the rights to the brand in the U.K., Australia and the U.S. Theo got the northern Germany stores and the rest of Europe. Unable to operate Aldi stores in U.S., Theo developed discount food store Trader Joe's; now has more than 320 U.S. stores. Also owns stake in Supervalu. Became a recluse after being kidnapped for 17 days in 1971; said to collect old typewriters; loves golf.

No: 10 Name: Amancio Ortega Age: 73 Fortune: self made Source: Zara Net Worth: $18.3 bil Country Of Citizenship: Spain Residence: La Coruna Industry: Retail Marital Status: married, 3 children. Railway worker's son started as a gofer in a shirt store. With then-wife Rosalia Mera, also now a billionaire, started making dressing gowns and lingerie in their living room. Business became one of world's most successful apparel manufacturers. Today Inditex has more than 4,000 stores in 71 countries. Sales: $12.3 billion. Ortega is chairman. Company exported its cheap chic Zara stores to 4 new markets last year: Ukraine, South Korea, Montenegro and Honduras. Stock up 1% in past 12 months, but fortune down because of weak euro. Also has personal investments in gas, tourism, banks and real estate. Owns properties in Madrid, Paris, London, Lisbon, plus a luxury hotel and apartment complex in Miami, a horse-jumping circuit, and an interest in a soccer league. Shuns neckties and fan...