Each crisis leads to incremental improvement of the institutional structure of the global financial system. The sub-prime crisis may generate important reforms in the role and functioning of credit

Rating the raters

Business Standard

The Japanese call them uncrowned emperors of their country because they are seen as being above the law. In the UK, they are despised as low life. In Singapore they are kept on a tight leash. In

Does 'public opinion' matter?

The mood at Tata Steel, which has just turned 100, is similar to the mood in the country, which has just turned 60. Both look and feel like a robust youngster with energy and confidence. It is

A healthy 100

Floods may be an annual feature at monsoon time, but the havoc wreaked by the gushing waters this year has been the worst in living memory. By official reckoning, over 1,500 people have lost their

A man-made disaster

The new policy for Internet service providers, put out by the department of telecommunications, is unlikely to make any impact on the poor level of Internet penetration in India when that should be

Consolidation among ISPs?

ICICI Banks proposal to set up a holding company, which in turn will own its life insurance firm, raised questions about a possible breach of the 26 per cent cap on foreign investment in the sector.

To hold, or not to hold?

Turkey has just elected a new president, Abdullah Gul. Mr Gul used to be an Islamist. His party was called the Welfare Party, which was shut down by the courts in 1998 on charges of attempting to

Soft secularism

In his address to the Federation of Indian Chambers of Commerce and Industry a few weeks ago, the Prime Minister focused on the plethora of tax exemptions that riddle tax laws. Direct taxes have some

Exemptions raj

Tribunals appointed to resolve protracted inter-state disputes quite often end up escalating the discord. From this viewpoint, the final verdict of the tribunal on the century-old dispute over sharing

From tribunal to court

The country is beginning to accept and enjoy its status as the worlds second emerging economic superpower, but voices of concern are beginning to be heard overseas. This is only natural, as any

Dissonance on sustenance

The report of the United Nations inter-governmental panel on climate change (IPCC) may not have unveiled anything that was not known before, but it has raised the decibel level of the alarm bells

Beyond Kyoto

The latest annual global survey by the US-based brandchannel.com highlights an emerging trend: three of the five most influential global brands are online properties, namely Google, YouTube and

Digital challenge for brands

It is not often that the verdict on a bitterly contested dispute satisfies both the contending parties. It is even rarer that both the contestants can claim victory. This is what has happened in the

Out of the cul-de-sac

The increase in the cash reserve ratio (CRR) by the Reserve Bank of India (RBI) on Tuesday was an entirely expected move, though the timing may have been a surprise. Coming as it did only two weeks

Entirely expected

When the Prime Minister said at the meeting of the National Development Council a few weeks ago that Muslims and other deprived sections must get first charge on the governments resources, there was

A dangerous road

That the Indian consumer is a breed apart was demonstrated in the latest global ACNielsen Consumer Confidence and Opinions Survey. Indicator: even as India once again topped the 45-country survey with

Confident but close-fisted

Now that the Doha Round of trade talks seems to have dislodged itself from the doldrums, the usual growls and snarls of negotiators are once again becoming audible. The European Union, no slouch when

Stoop to conquer

The country finally has a semiconductor policy that could eventually put it on the world map of semiconductor (wafer fab) manufacturing, keeping company with countries like Taiwan, China, South Korea,

Not a `fab` policy

Over the last couple of years, the Indian Railways have emerged as the poster boy of public sector management capabilities, displaying a sensational financial turn-around. Mr Lalu Prasad, minister of

Tracking priorities

The Congress party must be feeling as if it has been whacked on the head by an iron cricket bat. First, along came the unexpected inflation numbers in January and February and rocked the government

Trouble for Congress

The governments Economic Survey for 2006-07, tabled in Parliament on Tuesday by the finance minister, contains little that has not been known or anticipated. As a report card on the economys

Food for thought

Incisive columns and editorial comment by top opinion leaders

Page 378 - Editorial Comment