Megabucks'09

Record wheat, rice reports hint agriculture may buck economic trend

2008-11-26T01:43:00.002+05:30

At a time when the pall of economic slowdown is hanging over everything from industrial production to exports and consumer goods sales, the agriculture sector — which contributes about one-fifth of India’s GDP — may just buck the trend.

Read full article here.

US Fed announces $800bn stimulus

2008-11-26T01:40:00.001+05:30

The Federal Reserve is to inject another $800bn (£526.8bn) into the US economy in a further effort to stabilise the financial system.
Read full article here.

The sun sets on BHP's bid

2008-11-26T01:37:00.002+05:30

An audacious attempt by BHP Billiton to get control of Rio Tinto has fallen apart.
Read full article here.

Crisis will provide opportunities

2008-11-26T01:37:00.001+05:30

Siemens Chief Financial Officer Joe Kaeser says that the company would take steps to increase its productivity to deal with the financial crisis rather than investing heavily in capacity.

Read full interview here

Financial crisis affecting India, Asia: Experts

2008-11-23T02:11:00.003+05:30

The global financial crisis is far from over and it would have a major impact on India, opined the experts during a panel discussion at IIM-Ahemadabd's Confluence-2008.

Read their views on when will India be affected most and when will it recover, here.

Let foreign law firms into India?

2008-11-10T23:13:00.001+05:30

For side: It can help put our legal services on world map .
Against side: It calls for fine-tuning several issues.

The article is here.

India still an attractive PE destination?

2008-11-10T23:10:00.001+05:30

The "for" side says: Long-term investments will be rewarded.

The "against" side says: They’ve become more choosy about targets.

Read the debate here.

IMF favours new Bretton Woods Pact for financial stability

2008-11-10T23:02:00.002+05:30

IMF has sough the support of the G-20 for a new Breton Woods Agreements, a reformed global financial architecture, to deal with the current financial turmoil and prevent its occurrence in the future.
For a primer on Bretton Woods read this wiki article.

For the new Bretton Woods read this article.

SBI, ICICI say no to RBI's dollars

2008-11-09T01:38:00.002+05:30

The country’s two largest banks do not need to borrow dollar funds from the Reserve Bank of India’s (RBI) special window that was provided on Friday. Both State Bank of India (SBI) and ICICI have excess liquidity in their overseas branches.
Read full article here.

Foreign B-school grads scout for jobs in India

2008-11-09T01:34:00.000+05:30

The grave financial crunch in the West triggering an inclination of the top foreign B-school graduates towards the Indian companies for job opportunities.

Read the full article here.

Corus trims 400 jobs in UK, Ireland steel distribution

2008-11-09T01:32:00.001+05:30

Tata Steel may have firmly ruled out any job cuts in India, but the steelmaker hasn’t been able to stave off the impact of the ongoing slowdown at its international unit Corus.
Read full article here.

New accounting prices: Taj Mahal at Re 1

2008-11-07T11:21:00.001+05:30

The government is finalising a road map to move to a system of “accrual-based accounting” from the current cash-based accounting system to better reflect the nation’s assets and liabilities in its annual financial statement. The new system is meant to capture some of the government’s liabilities and assets that now find no mention in the annual budget.
Read the article here.

Corporate Layoffs: The Worst is Yet to Come

2008-11-06T17:23:00.002+05:30

We are very sorry in sounding so gory, but truth has to be reported.

A new analysis by Goldman Sachs sounds a somber tone. It suggests that the downturn is still in its incipient phase, and that job losses could surpass 2 million in 2009, with unemployment climbing to 8%. The report suggests that over the next year, "lagging" sectors of the economy — like construction, manufacturing, financial services and retail — are likely to incur many of the coming losses. Necessities like health care will remain steady, and "Hollywood should do O.K.".

Read this article on lay-offs here.

China, Emerging Asia to Fight `Protectionist' Obama

2008-11-05T23:13:00.002+05:30

Asia's leaders, led by an ascendant China, say they hope Barack Obama didn't really mean those campaign promises to protect American trade. And if he did, they are in better shape to object than ever before.

Read full article here.

Nannies Worse Off Than Hedge-Fund Guys in Rout

2008-11-05T23:10:00.002+05:30

As Japan and the U.S. grapple with the ``R'' word, or recession, the Philippines is dealing with one of its own.

For Asia's 13th-biggest economy, the ``R'' word is remittances.

Will commodity exchanges help farmers in India, Ethiopia?

2008-11-05T23:05:00.000+05:30

Can commodity exchanges change the fate of farmers in any country? This is a question which has been discussed world over by governments, analysts, traders and farmers for years. In fact, the answer to this query depends on which country you are talking about.
Find the article here.

Obama-Biden team will take India-US relationship to next level

2008-11-05T23:04:00.000+05:30

"Though there is a perception that the India-US relationship would go backwards (under Obama presidency), there is no reason to think that way," Chatterjee, national financial chair of Asian Americans for Obama, told IANS after the Illinois Senator was declared winner of the presidential election. Read article here.

Interbank lending rates in US keep falling

2008-11-05T23:03:00.000+05:30

Lending rates between banks in the U.S. fell further on Wednesday and to their lowest level in nearly four years as lower interest rates and government efforts to shore up confidence in the banking system continue to filter through. Read more here.

Barack Obama's victory: Three lessons for business

2008-11-05T17:34:00.002+05:30

"This column is not about why John McCain should have won. The election is over. And while we believe John McCain is a great American whose economic platform made better sense for business, especially in terms of free trade, tax policy, and job creation, we look forward with hope to the Presidency of Barack Obama", say Jack and Suzy Welch. Read full article here.

Indian stainless consumption set to soar - ISSDA

2008-11-02T23:05:00.001+05:30

Steel Insight reported that the stainless steel industry of India is likely to witness a boom owing to the development of some of the largest infrastructure projects on the cards.

The article.

A Bevy of Biofuels

2008-11-02T23:03:00.001+05:30

In ethanol's wake comes a parade of other plants and gases that can be processed to produce energy.

The article.

Food crisis looms large: Jayati Ghosh

2008-11-02T23:01:00.001+05:30

Economist and columnist Jayati Ghosh on Friday said that the financial crisis, especially in the most-developed capitalist countries, has drawn international attention away from the food crisis. But the food crisis continues to fester.

The article.

The Best Places to Launch a Career

2008-11-02T23:00:00.000+05:30

To lure and keep young talent when cash is tight, companies of all stripes are appealing to Gen Yers' ambitions for speedy advancement—and their desire to do good while doing well.
The article.

Barclays Will Sell Biggest Stake to Sheikh Mansour

2008-11-02T22:57:00.000+05:30

Barclays Plc, the bank that opted out of a plan to sell a stake to the U.K. government, will have Sheikh Mansour Bin Zayed Al Nahyan, a member of Abu Dhabi's royal family, as its biggest shareholder.

The article.

JPMorgan Chase Freezes Foreclosures

2008-11-02T22:55:00.000+05:30

The big bank ramps up a program to modify terms for 400,000 homeowners and kills a highly criticized type of mortgage.
The article.

Lalit Modi speaks on the future of IPL and test cricket

2008-11-02T22:52:00.002+05:30

For the video of the interview click here

Asia's Best Young Entrepreneur: And the Winner Is...

2008-11-02T22:48:00.003+05:30

Delhi's Vivek Pahwa. He's already on his third startup, a matchmaking site for India's small but growing cadre of divorced people.
The article.

Muhammad Yunus: Building Social Business Ventures

2008-11-01T23:51:00.002+05:30

The Reliance-Spielberg Deal: Anil Ambani's Next Blockbuster?

2008-11-01T23:45:00.000+05:30

When Reliance Entertainment -- the entertainment and media arm of the Anil Dhirubhai Ambani Group -- announced plans to invest $500 million in a joint venture with Steven Spielberg in late September, it became clear that India is moving from the fringes of Hollywood to center stage. Meanwhile, Reliance is dramatically expanding its presence in India's media and entertainment sector. India Knowledge@Wharton spoke with experts from Wharton and the Indian School of Business about Anil Ambani's latest act.

The Article.

Eli Lilly's Rajiv Gulati on Pharma's Prospects in India and China

2008-11-01T23:44:00.000+05:30

India's huge potential pharmaceutical market and wealth of industry talent means it will be strategically critical for multinationals in the years ahead, notes Rajiv Gulati, director of India-China strategy and corporate strategic planning for Eli Lilly. But weak intellectual property protection continues to hold the country back by hampering innovation, he says. In China, there may be even greater potential, but huge regulatory barriers block a clear path. Gulati spoke with India Knowledge@Wharton about these and other industry issues during the 2008 Wharton India Economic Forum.

The Article.

Why US recession is good for entrepreneurs?

2008-11-01T23:41:00.001+05:30

The recession in the US economy would offer great opportunities for entrepreneurs, says Krishna Tanuku, executive director at the Wadhawani Centre for Entrepreneurship Development, Indian School of Business.

The Article.

India's Software Industry Reboots for an Expanding Market

2008-11-01T23:40:00.000+05:30

The National Association of Software and Service Companies (Nasscom) estimates that of India's US$52 billion in software and services revenue in fiscal 2008, the software product segment accounted for a mere US$1.4 billion. That's likely to change: Factors including a strong and growing domestic market, disruptions in technology and business models, a growing talent base, a now-well-established "India" brand and increased venture capital funding are expected to boost the segment in coming years. "The industry ... has the potential to grow to US$9.5 billion to US$12 billion by 2015," says Nasscom president Som Mittal.

The Article.

India ranked No 70 in World Prosperity Index

2008-11-01T23:38:00.000+05:30

India has an exceptionally weak score in commercializing new ideas via entrepreneurship, a factor which the Index identifies as a major contributor to growth.

The Article.

Bumps in the Road: India's Industrial Growth Seeks Solid Ground

2008-11-01T23:37:00.000+05:30

Indian business's voracious appetite for land to support rapid growth is running up against farmers determined to get top dollar for their acreage. One conflict recently got so messy in West Bengal that Tata Motors pulled up stakes for its planned Nano plant and will now relocate it in Gujarat. Behind the disputes lie outdated laws and the lack of any pragmatic negotiation structure that might give both sides more of what they want. Experts tell Knowledge@Wharton that a comprehensive set of ground rules may finally be on the way.

The article.

Young Entrepreneur

2008-11-01T23:13:00.006+05:30

Gurbaksh Singh Chahal (born July 17, 1982 ) is an American entrepreneur. He started his first company at the age of 16 and was the Founder, Chairman & CEO of two advertising companies which were sold for over $340 million. More recently Chahal has appeared in TV shows and written a book.

His Interview and the Video.

Wharton Private Equity Review: Harnessing the Winds of Change

2008-11-01T23:12:00.002+05:30

While the credit crunch has put a damper on headline-grabbing large buyouts, private equity firms have found other ways to discover value in the current market. In this special report, produced in cooperation with the Wharton Private Equity Club, Knowledge@Wharton looks at how funds are adapting to changes in the credit environment, what opportunities exist in the developed markets of Europe and Japan, and the ways that proposed changes in taxation may affect the industry. Also included is a roundtable discussion on setting up a first-time fund in the current market, as well as an interview with David Rubenstein, co-founder and managing director of The Carlyle Group.

The Article.

SEZs- Bane or Boon for India?

2008-11-01T23:09:00.001+05:30

Special Economic Zones create jobs only for a lucky few, and much unemployment.
The Article.

US meltdown affects Indian IT and BPO: Govt

2008-11-01T23:07:00.001+05:30

The Article.

The New Competition for Global Resources

2008-11-01T23:06:00.003+05:30

Companies in the U.S. and Western Europe once had unfettered access to the world's resources, such as raw materials, capital and talent. Thanks to increasing demand from India, China, Brazil, Russia and other rapidly developing economies, however, that access is no longer assured. In this special report, experts from Wharton and The Boston Consulting Group discuss the ways in which this unprecedented "race" for resources is reshaping global business, and how key political and financial trends in emerging economies are likely to affect companies anywhere in the world.

The Article.

Charting a different course

2008-11-01T23:03:00.003+05:30

The future of global finance depends on what kind of rethinking takes place in the emerging world. Will emerging economies change the shape of global finance?

A nice article on lessons, that emerging economies could learn from the global financial crisis, and some possible strategies for the future.

The Article.

Cabinet nod for Bill giving scientists share in IPRs

2008-11-01T23:02:00.001+05:30

Scientists conducting research using public funds may soon get a share in the intellectual property rights for their discoveries and inventions.

The Article.

Pune to become Seventh Indian Metro

2008-11-01T22:59:00.003+05:30

Pune will soon acquire the status of being a metropolitan city in India, owing to its upgradation to a fast development pace in the area of infrastructural facilities, friendly business environment, education avenues and employment opportunities.

The Article.

Once bitten, twice shy

2008-11-01T22:57:00.002+05:30

Private-equity firms are sitting on about $450 billion of “dry powder”—funds raised but not yet spent. And sovereign-wealth funds have assets of $2 trillion to 3 trillion, much of which is sitting idly in American Treasury bonds. Meanwhile, the IMF thinks American and European banks need $675 billion of new capital. Will the required fund flow take place?

Find out in this article.

A taxonomy of trouble

2008-11-01T22:54:00.002+05:30

How are emerging markets suffering? Let us count the ways in this article.