* Avoiding Sins, and Pirates

It touched a two-decade low of 663 in December after sinking 94% from its all-time peak of 11793 on May 20 of last year. One factor: a 15% to 20% drop in China's demand for iron ore in the last few months of last year, probably because it was allowing inventories to run down.

* Ships, planes, fashion and fun: Nishita Shah keeps a high profile—Forbes Asia

Kirit joined in 1975, when the head office still consisted of just his father, five employees and one of the city's few telex machines. He took over in 1979, after his father had a stroke, and launched an enormous expansion, fueled by the new affluence of the Middle East and the more well-off parts of Africa. He expanded beyond rice to other commodities and traveled for months at a time. "The merchant who used to order 50 tons of rice now had a market for 500 tons," he recalls. "Then they needed edible oil. They'd want maize, sugar, pineapple. I'd say, 'You need uniforms. There are all these construction workers, they need gumboots.' Then they'd need steel, timber, bitumen, asphalt, cement."

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