Tuesday, May 28, 2013

Roubini shuts India Centre

NEW DELHI: Renowned US economist Nouriel Roubini, who has been referred to as "Dr Doom" for predicting the 2008 financial crisis, has downed the shutters on his India centre nearly two years after setting up shop in Asia's third-largest economy.

Roubini had chosen India as one of his key centres for economic research and analysis. This is his third centre after New York and London. The centre, which began operations in July 2011, was closed down a few months ago, sources said.

Nearly 10 staffers, including economists, were asked to leave and were given the statutory three-month notice, sources said. They said the company, which is widely regarded for its top-notch economic research and analysis, failed to penetrate the Indian market.

TOI sent a detailed questionnaire to Richard Green, CEO of Roubini Global Economics, asking him about the closure of the India centre. Green sent a short reply saying the firm remained committed to India and Asia. "We remain very committed to India and the wider Asian marketplace, but I'm afraid we are a private company and we don't comment on our internal and external strategy," Green told TOI in an email.
- in http://timesofindia.indiatimes.com/business/india-business/2-years-on-Dr-Doom-shuts-India-centre/articleshow/20282312.cms
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