The Central Bureau of Investigation (CBI) on Thursday registered a disproportionate Assets case against a senior IAS officer, presently posted in the Delhi Development Authority (DDA) as Commissioner, after raiding his residence and other places allegedly owned by him in the capital region. The investigating agency also claimed to have recovered huge Assets disproportionate to his known source of income. The officer, Manoj Kumar Agarwal, 43, is posted as Commissioner...

The collapse of the Dubai dream is not without any implications; it may be an indication that the travails of finance capitalism are not over. GLOBAL capitalism is in a phase in which it must deal with the fruits of the overextension during the previous boom, and there is no doubt that this is going to be painful. The financial crisis in the United States and some other developed countries...

For about a week after the Dubai crisis broke, international financial markets chose to ignore it. Stock-markets climbed, commodity prices rose and the dollar continued to be beaten down. It is not too difficult to explain this initial indifference. For one, the magnitude of the Dubai crisis appeared piffling, at first glance, compared to the “subprime” crisis or the meltdown following “Lehman’s bust”. When global banks had run up losses...

The declaration of Assets by Supreme Court judges recently is a belated step in the right direction. By challenging the direction of the Central Information Commission in the high court, and then appealing against its decision, the Chief Justice of India (CJI) gave an impression that instead of being a paladin of impartiality and transparency, he was more interested in protecting his peers. This voluntary move appears to have been...

PATNA: A staggering 300 Bihar government employees earning modest government salaries are crorepatis. If this isn’t surprising enough, here’s more:    All but two of the sleazy 300 continue to hold on to their secure as also, no doubt, lucrative - government jobs despite long stints in jails. According to official figures, 71 such corrupt babus were caught until November this year by the state vigilance bureau. In 2006, when chief...