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COVER STORY
Steel : Signs of Revival
-- Y Bala Bharathi and Sanjoy De
Riding on the back of growing government spending on infrastructure projects as well as surging
demand from the housing and automotive sectors, Indian steel industry has overcome the bottom. However,
the industry still has a few significant challenges to overcome.
BY INVITATION
Commodity-Currency : The Derivative Linkage
-- V Shunmugam
Given the fact that currency futures are intended to reduce the volatility in the exchange rate, and hence
the volatility in domestic commodity prices, the participation of commodity market players in
currency derivatives segment augurs well for the real sector of the economy.
BY INVITATION
Direct Tax Code : A Mixed Bag
-- Vikas Vasal
Undeniably, the Direct Tax Code is a move in the right direction to simplify the tax provisions and
enhance compliance. However, a few aspects of it should be reconsidered and necessary changes brought in
to ensure that the DTC stands the test of time.
BY INVITATION
Indian Realty : Revival in the Offing?
-- Kunal Lakhan
With prices having bottomed out and sales on the upswing, the Indian realty market is showing signs
of gradual recovery.
BY INVITATION
Indian Pharmaceutical Industry : Emerging Global Pharma Hub
-- Sushant Dalmia
With the global pharma players entering into collaborative research agreements with many Indian
pharma companies, the latter have progressed from being `vendors of choice' to becoming `partners of choice'.
BY INVITATION
Indian Banks : Sustaining the Growth Momentum
-- Robin Roy
Indian banking has come a long way since its nationalization in 1969. Nevertheless, to sustain the
growth momentum in the long-term, Indian banks need to have adaptive business models, be
capital-efficient, and institutionalize a risk-conscious culture across the organizations.
BY INVITATION
Money Laundering : Challenges Before Banks
-- Hemant K Batra
While the Indian banks are willing to do their part to curb the illegal practice of money laundering, they
face various challenges in their attempts to comply with the requirements of the laws and provisions in
this regard.
BY INVITATION
IT-Based Banking Services : Enhancing Efficiency
-- G Nagamal Reddy
Besides helping to complete many banking activities with high efficiency,
Information Technology also has the potential to take banking to the poor.
INDUSTRY
NBFCs : A Mature Show
-- Y Bala Bharathi and Sanjoy De
NBFCs in India, which have historically been marred by scams and regulatory quagmire, have emerged
as stronger, mature and resilient entities and withstood the current crisis gallantly.
INDUSTRY
Global Oil Discoveries : New Gushers
-- Y Bala Bharathi and Sanjoy De
The rapid pace of discoveries this year has rekindled hopes in the global oil industry. However, it is
feared in some sections of the industry that low oil prices may jeopardize the exploration drive.
INTERNATIONAL ECONOMY
Global Economy : On the Road to Recovery
-- N Janardhan Rao
After braving the worst recession since World War II, the global economy appears to be growing.
Policy makers and central bankers have now shifted their focus from crisis-fighting to figuring out how to
establish a safer global financial system for the future.
M & A s
Dell-Perot : A Catch-Up Act?
-- Amit Singh Sisodiya and Sudesh Gonela
Dell's acquisition of Perot Systems apparently signifies its new-found aspiration to make it big in
the services sector. But for now, it appears nothing more than an attempt at playing catch-up with the big
tech rivals like IBM, HP and Accenture.
CORPORATE STRATEGY
Restructuring at Jet Airways : Will It Work?
-- Y Bala Bharathi and GP Mrudhula
In a bid to overcome the challenges posed by the internal and external environments, Jet Airways
has been fine-tuning its business strategies. Can the new strategies help the carrier come out of the red?
CORPORATE STRATEGY
eBay-Skype : Dial `B' for Breakup
-- Amit Singh Sisodiya and Sudesh Gonela
eBay's separation from Skype, a web telephony firm which it acquired in 2005, was a foregone
conclusion even before the ambitious merger happened.
CORPORATE STRATEGY
Ford : Battling Alone
-- T Jyotsna
Ford, one of the Big Three Detroit auto companies, eschewed the government aid and is
endeavoring to remain independent and regain its past glory.
PERSPECTIVE
UK's Vehicle Scrappage Scheme : Ring out the Old, Ring in the New
-- R Venkatesan Iyengar
The launching of vehicle scrappage scheme in the UK has achieved its intended purpose: giving a
short-term boost to demand and restoring confidence in the automotive sector. Now it is left to the
industry players to keep the momentum going.
MONETARY MUSINGS
Falling Dollar : A Blessing in Disguise for the US
-- GRK Murty
There was a lot of hullabaloo over the
declining international value of the dollar in the second week of October.
A number of Asian central banks have intervened in the markets to slow the
appreciation of their currencies against the dollar.
ARTS & ARTISTS
Sakuntala : Kalidasa's Magical Weave
-- Nirmala PG
The above lines might lead one to be-
lieve it to be from a poem on nature. But no. They belong to
Kalidasa's Sakuntala and we are reading
about the sacred grove of Sage Kasyapa. No wonder Kalidasa is highly praised as
a poet of nature—his lyrical passages descriptive of the flora and fauna of
the Indian subcontinent never fail to transport the reader to a paradisiacal
region.
ARTS & ARTISTS
Nobel in Economics : Prize for Practical Wisdom
-- GRK Murty
The Nobel Prize in Economics to Ostrom and Williamson—who have by their independent research
taken economics beyond the traditional analysis of market prices by establishing `economic governance' as
a field of research—has come at the right time when the world is entangled in governance issues that
have not only led to the collapse of organizations but also to worldwide contagions.
APOLITICAL
G20 - Pittsburgh : A New Beginning?
-- grk
The G20 countries have at last emerged as the central global policy makers. At least that is what one infers
from the summit's declaration: G20 will now replace the G8 as
the body responsible for the global economic policy coordination.
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