New Delhi : The government finds it “highly objectionable” that the Supreme Court included the Director, Research and Analysis Wing (R&AW), in a Special Investigation Team set up to investigate black money cases. “What is of serious concern and highly objectionable is the inclusion of the Director, Research and Analysis Wing, in the SIT,” said the government in an application filed in the Supreme Court seeking the recall and modification of...

-The Telegraph   The finance and law ministries have locked horns over who will lead the battle against black money. A meeting of a finance ministry probe team under the chairman of the Central Board of Direct Taxes (CBDT) has been put off indefinitely following a Supreme Court order to set up a special investigative team (SIT), headed by former apex court judge B.P. Jeevan Reddy, to probe illicit funds. While the panel...

A host of steel-manufacturing units are keen to set up plants in Karnataka, and all want captive mines. SOUTH KOREA'S Posco is not the only steel-maker keen to do business in Karnataka. The State's estimated 9,000 million tonnes of good-quality iron ore reserves, which is the second largest in India, the State government's assurances on a smooth land acquisition process, the availability of water and the promise of speedy regulatory clearances...

-The Business Standard   Increasing newsprint prices are likely to have a negative impact on profitability of the Indian print media industry in the short to medium term, according to a Fitch report. The report expects that an increase in advertising revenues may partly offset the rising cost of newsprint. Newspaper publishers generate about 70 percent of revenues from advertising, with the remainder coming predominantly from circulations. However, the agency's expectation of...

-The Business Standard   The latest controversy in the British media, triggered by unethical professional practices by journalists at Rupert Murdoch’s News of the World, holds important lessons for the Indian media, and not just because Mr Murdoch has a significant presence in India and seeks more. The most important lesson is that public policy must prevent the emergence of all powerful media moguls like Mr Murdoch. The extent of concentration in...