The Next Great American Metropolis Is Taking Shape In TexasIndia’s government suddenly declared all 500 and 1,000 rupee notes worthless earlier this month, intentionally sapping its enviable economic growth for who knows how long. No other country has taken this kind of step so suddenly, making it hard to predict the fallout in India. These changes will probably last several months as Indians trade old notes, worth about $7.5 and $15, for new ones. “For corporates, decline in economic activity will lower sales volumes and cash flows. That pain will extend to 80% of construction jobs, 60% of cement demand and discretionary consumption, the note says.

Source: Forbes November 25, 2016 03:45 UTC