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COVER STORY
Sovereign Debt Crisis :
Ripple Effect on the Global Economy?
- N Janardhan Rao
Even as the world economy is recovering from a meltdown, a sovereign debt crisis threatens to send it
into turmoil again. Rising concerns over sovereign debt underline the need for credible fiscal adjustment
by troubled governments sooner rather than later.
BUSINESS ENVIRONMENT
Global Economic Imbalances :
Time for Action
- N Janardhan Rao
Financial collapse of the past two years led to smaller trade surpluses for the big exporting nations and
smaller deficits for the importing nations. Consequently, imbalances have been getting worse in recent months.
BUSINESS ENVIRONMENT
Asian Economies :
Emerging Powers
- Claus Vistesen
Co-Founder,
Global Economic Perspectives
The fundamental reassessment of power and influence in the world, both politically and economically,
has not been initiated by the global crisis, but it may be reinforced.
BUSINESS ENVIRONMENT
Google vs. China :
The Big Face-Off
- Y Bala Bharathi and Sanjoy De
Censorship and hacker attacks, along with other business considerations, may expedite the exit of
Google from China. But it may not be a virtual exit from the mainland.
BUSINESS ENVIRONMENT
The UK Economy :
Staggering Towards Recovery
- Y Bala Bharathi and Sanjoy De
The UK economy has limped weakly out of recession.
BUSINESS ENVIRONMENT
Reverse Innovation :
The New Order
- R Venkatesan Iyengar
Thanks to the recent global economic slowdown, the case for reverse innovation, an
emerging globalization concept, has only become stronger.
BUSINESS ENVIRONMENT
The Changing Face of Accountancy :
Accountants in Business
- Aziz Tayyebi
Financial Reporting Officer
ACCA (Association of Chartered Certified Accountants)
The businesses that place financial professionals at the heart of their organization, and understand
and embrace the vital role that they play in the future prosperity of the business, will surely be the winners.
ACCOUNTING MATTERS
IFRS Road Map - A Momentous Event
- Dolphy D'Souza
Partner and National Leader, Ernst & Young
On January 22, 2010, the
Ministry of Corporate Affairs
(MCA) issued a press release
setting out the road map
for International Financial Reporting
Standards (IFRS) convergence
in India. This is an
historic step that will elevate
Indian entities and their finance
and accounting professionals
to much greater
heights. Compliments to all
the agencies that made this
possible, including the MCA,
the IFRS core group, the Securities
and Exchange Board of India
(Sebi) and the National
Advisory Committee on Accounting
Standards (NACAS).
CORPORATE FINANCE
Indian FCCBs : Buyback and After
- Prashant Sawant
KNG Securities LLP, London
With India's increasing thrust on infrastructure development, more companies from this segment are likely to
tap the FCCB avenue for capex funding. However, implementation of corporate governance is necessary for
the issuing companies to attract a large investor base.
FINANCIAL MARKETS
Currency Futures :
Heralding a New Dawn?
- Padmalatha Suresh
Director,
DMS Financial Services Co. Pvt. Ltd., Chennai
The RBI and Sebi moved rather quickly on the introduction of currency futures in August 2008 for one
currency pair, followed by more currency pairs in late 2009. The move has admittedly helped the undernourished
Indian financial markets in a big way. But are exchange traded futures the answer to preventing systemic risks in
the future?
FINANCIAL MARKETS
Currency Futures :
Mitigating Exchange Rate Risks
- Krishnan Sitaraman
Director - Fund Services and Fixed Income Research,
CRISIL, Mumbai
- Satish Prabhu
Senior Manager - Fund Services,
CRISIL, Mumbai
Since August 2008, when exchange-traded currency derivatives debuted in India, they have registered
an impressive rise in volumes, providing an excellent opportunity to hedge currency risk for different kinds
of participants.
FINANCIAL SERVICES
Quant Funds :
Beating the Street
- Amit Singh Sisodiya and Sudesh Gonela
A new breed of fund managers are resorting to mathematics to churn out above-average returns.
INDUSTRY
Indian Auto :
Changing Its Gears
- Y Bala Bharathi and Sanjoy De
The Indian auto industry is undergoing swift changes with a host of global biggies entering the
arena, thanks to the huge Indian market and its frugal manufacturing capabilities.
INDUSTRY
US Auto Industry :
More Dark Clouds Gather
- Charles Fleetham
President, Project Innovations Inc.,
US
Though the Obama administration acted decisively and engineered the rescue of the big US automakers
in 2009, the future still looks bleak for the former `Big Three'.
INDUSTRY
Japan Airlines :
Drowned in Debt
- Amit Singh Sisodiya and Imrana Moghul
Asia's biggest flagship carrier, which recently filed for bankruptcy teetering under mounting debt,
crippling losses, and falling market share, now seeks to return to normalcy, banking heavily on the
government bailout.
E-COMMERCE
China's e-Commerce Boom :
Happy Shopping
- Amit Singh Sisodiya and Ramana Pemmaraju
Online shopping is fast becoming a rage amongst the young Chinese shopaholics.
TECHNOLOGY
Windows 7 :
Greeted with Glee
- Y Bala Bharathi and G P Mrudhula
Windows 7, the latest version of Microsoft Windows OS, arrives on
the scene three short years after Vista, fixing its
predecessor's loopholes. Can it revive Redmond's sagging margins?
TECHNOLOGY
Headend in the Sky :
Cable with a Digital Edge
- Y Bala Bharathi and G P Mrudhula
The move to approve the revolutionary headend-in-the-sky policy by the Union Cabinet will go a long
way in digitalizing cable TV network even in non-CAS areas of the country.
APOLITICAL
Sur Bane Hamara! :
Can Intelligentsia Make It Happen?
- grk
As our military might was marching past in its assigned
splendor on our 61st Republic Day, every Indian turned a little nostalgic.
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