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COVER STORY
US Dollar :
Safe Harbor No More?
-- N Janardhan Rao
With the economy in the doldrums, soaring unemployment and ballooning deficit, immense pressure
has been put on the greenback. Its position as a reserve currency is on trembling ground, as most
central banks are looking for alternatives.
BUSINESS ENVIRONMENT
PSU Disinvestment : A Welcome Move
-- Y Bala Bharathi and Sanjoy De
In a bold move, the government has decided to reduce its stake in PSUs and use the proceeds to meet
the capital expenditure of its pet social security programs.
BUSINESS ENVIRONMENT
Interest Rate Outlook 2010 :
Whither the Future?
-- Manoranjan Sharma
Chief Economist and Deputy General Manager,
Canara Bank, Bangalore
In the case of India, GDP growth seems to be gaining traction once again, the IIP numbers are in
double digits and the worst seems to be clearly behind us.
BUSINESS ENVIRONMENT
Indian IPO Market :
Poised for a Big Leap!
-- Prashant Sawant
Partner,
KNG Securities LLP, London
If 2009 was the year of capital erosion, 2010 could well be the year of capital raising! Thanks to
the recovering capex cycle and surging domestic expansion activities, the year is all set to witness a frenzy
of capital raising activities via IPO, right issues and overseas issues.
BUSINESS ENVIRONMENT
India's Fiscal Deficit : A Cause for Concern
-- Y Bala Bharathi and Sanjoy De
Amidst the air of growth, the rising fiscal deficit is a cause for serious concern to the policy makers who
are seeking the right balance between growth and deficit.
BUSINESS ENVIRONMENT
Economic Stimulus : The Exit Issue
-- Amit Singh Sisodiya and Sudesh Gonela
With the economic recovery still looking fragile, corporates and economists warn against any
hasty withdrawal of the government-sponsored economic stimulus package, launched in the wake of the
recent worldwide economic crisis.
M&A
VW-Suzuki Deal :
Small is Beautiful
-- Amit Singh Sisodiya and Ramana Pemmaraju
The deal between Germany's VW and Japan's Suzuki Motors only reaffirms the fact that small cars hold
the key to the survival of the global automakers.
INTERNATIONAL FINANCE
Trade Protectionism :
Threatening Growth Rebound
-- N Janardhan Rao
Slumping economic conditions across the globe have led to fear of growing protectionism and
increased trade barriers have created a simmering trade war between nations. The US and Europe imposed a bevy
of protectionist regulations in a bid to protect their own economic interests, while key developing nations
like China have raised their own trade barriers in response.
INTERNATIONAL FINANCE
Chinese Economy :
Overinvestment Quandary?
-- N Janardhan Rao
While the rest of the global economy suffers from liquidity shortages, the mainland has been suffering
a cash glut, leading to spiraling property values. Emerging property bubble is probably the most
pressing threat that it is facing with no end to dire warnings.
INTERNATIONAL FINANCE
Dubai's Debt Crisis :
Tackled in Time
-- Y Bala Bharathi and Sanjoy De
The unbridled expansion spree coupled with imperial complacency, led to Dubai's woes. But, thanks to
its big brother's benevolence, the crisis was averted.
FINANCIAL MARKETS
Share Buybacks :
Promoters Make Merry
-- Amit Singh Sisodiya and Sudesh Gonela
The decision to buy back shares during the recent market slowdown by many domestic companies
has paid off well, courtesy the sudden turnaround in investor sentiment.
CORPORATE STRATEGY
AOL-Time Warner :
Better Alone!
-- Amit Singh Sisodiya and Ramana Pemmaraju
After being in the denial mode for long for that elusive synergy, the two giants in their own
right—media conglomerate, Time Warner, and once Internet's uncrowned prince but now a mere shadow of its
past, America Online (AOL)—part ways in search of a new identity and of course, better future.
FINANCIAL SERVICES
Indian Banking Sector 2010 :
Opportunities and Challenges
-- Abizer Diwanji
Executive Director,
Corporate Finance and Head of Financial Services,
KPMG India
The current economic situation provides a lot of opportunities as well as challenges to the existing banks. It is
up to the banks to leverage the opportunities to meet the challenges to the best of their abilities.
INDUSTRY
Indian IT :
In Need of a New Business Model
-- Vikram Gulati
Director, Quantum-Step, Europe and Asia-Pacific
Global IT Consulting,
Outsourcing delivery and transition Managers
What we are seeing is a move towards multiple business models coexisting with each other.
INDUSTRY
Indian Shipbuilding Industry :
In Full Sail
-- R Venkatesan Iyengar
Thanks to the boom witnessed in the global maritime trade and shipbuilding activities in recent times,
the Indian shipbuilding industry, with its competitive advantages of low-cost labor and know-how, is all set
to conquer newer territories in this decade.
ARTS & ARTISTS
Shilappadikaram :
Song of Loss and Pain
-- Nirmala PG
Let us go visit that famous site where a great genie comes to feast on sacrifices offered in thanksgiving…
APOLITICAL
Oil Prices and Fiscal Deficit :
Intent Is Not Enough
-- grk
Oil industry is once again seized by volatility in the market. International crude oil prices are currently
hovering in the range of $75-80 per barrel. After hitting an all-time
high of $147 per barrel in July 2008, it hit a low of $47.48 and a
high of $81.98 per barrel in 2009, and is now facing resistance
at the range of $75-80 per barrel.
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