COVER STORY

Indian Banking:Challenges Ahead

- - Y Chandra Sekhar

Indian banks put forth an outstanding performance during the last couple of years. This is commendable given the fact that credit offtake remained poor. The high profitability of the banks was due to gains from their treasury operations. However, this raises a serious concern, as commented by the RBI. How long will the banks rely on retail banking and treasury operations to boost their profitability? What are the other challenges ahead for the Indian banks? How equipped are the Indian banks to deal with these challenges? Read on.

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GOVERNANCE

Corporate Governance Beyond patchwork reform

- - John Carver and Caroline Oliver

Lack of a holistic vision is exactly what must be remedied if full and proper accountability from management to board and owners is to be established, say the authors - Caroline Oliver, International Consultant on Effective Governance, Canada and John Carver, Adjunct Professor, Schulich School of Business, York University, Toronto.

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INDUSTRY

Indian IT Industry

- - Nandan M Nilekani

To operate in a global environment, Indian companies have to work towards creating multicultural organizations, sensitive to local cultural issues in all countries, says Nandan M Nilekani, CEO, President and Managing Director, Infosys Technologies Limited.

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US' Low-cost Airlines Beware of the big brother

- - Anupama Chowdary

Low-fare airlines are not new, but of late, their market share has been increasing in the US aviation industry. In order to remain competitive, the big players are coming up with discount carriers in the form of subsidiaries.

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PC makers Consumer electronics push

- - Priyanka Sugandhi

No longer are the IT companies just selling and developing software and hardware for computers, but are making their mark felt in the consumer electronics segment.

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FINANCIAL MARKETS

Hedge Fund Regulation Pros and cons
- - A Sowdeepti

There are growing demands to unravel the mystery surrounding hedge funds and bring them under tighter regulation in US. The reason: Rather than restricting to the traditional domain, hedge funds are increasingly reaching less sophisticated retail invest

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Hedge Funds' notoriety : Fact or fiction?

- - Randall Steinmeyer

Hedge fund regulation will work if it accomplishes increased transparency, increased performance background information, and adequate disclosure, says Randall Steinmeyer, Attorney at Milberg Weiss Bershad Hynes & Lerach, US.

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Interest rate futures Getting the price right

- - Phulvinder Kaur

Interest rate futures witnessed high trading volumes in the OTC market. However, the success could not be replicated in the Indian derivatives market because of the difference in pricing methodology.

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FINANCIAL SERVICES

China's Banking Reform : A historic perspective

- - He Weiwen

The reform in the banking sector, of course, involves more issues than state-owned commercial banks reform, says He Weiwen, Deputy Secretary General, China Reform and Development Forum Committee, Former Economic and Commercial Counselor, Chinese Consulate General in San Francisco and New York, US.

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ISLAMIC BANKING : Of crescent and credit
- - V Subbulakshmi,N Rajshekar

Interest in any form is strictly prohibited in Islam as it is perceived to cause injustice. This prohibition of interest is based on the principles of Shariah which are against the exploitation of the borrowers in any manner.

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Islamic Banking : The Shariah way

- - Prof. M Kabir Hassan

The growth of financial institutions, instruments, and transactions operating without interest has been impressive, from assets totaling a meager $5 bn in 1985 to a current level of approximately $200 bn, says Professor M Kabir Hassan, PhD, Endowed Chair Professor of Finance and Economic Development, University of New Orleans.

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Islamic Banking : Emerging opportunities

- - Priyanka Sugandhi

Islamic banking based on Koran principles was earlier restricted to Muslim nations only, it's now expanding to a worldwide market. Thanks to its `interest-free' nature.

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CORPORATE STRATEGY

Boeing : A tale of woes!

- - D G Prasuna

Boeing, the icon of the `Jet age' is in dire straits. The company faces numerous problems: Ethical concerns, demand slump, tough competition, poor pipeline of new products and management reshuffle. There is little respite in sight.

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Clinical Research Outsroucing : An $8 bn opportunity

- - Dr. V V L N Sastry

globally, all pharma companies are concentrating on new drug development which clearly indicates the trend and necessity for increased services requirement from CROs, says Dr. V V L N Sastry, Country Head, Firstcall India Equity Advisors Pvt. Ltd.

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BUSINESS ENVIRONMENT

Commodity markets On the growth path

- - N Janardhan Rao and Phulvinder Kaur

Commodity prices have been in a long bear market for the last two decades. Going by the rise in consumer demand and money spent on commodities, now the situation has changed. Will the tempo continue?

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Chinese Economy Overheating?

- - N Janardhan Rao

As China is moving on to modern industrialization and globalization, there are also unavoidable social and economic effects. The biggest challenge for China is to deal with the early symptoms of an overheating economy.

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