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...

Business lobbyists complain that a regulatory tsunami is on its way. But some firms are embracing the proposed reforms “WHEN people hear the word regulation, they feel stifled, delayed, and many times they believe that government is being intrusive,” said Hilda Solis, America’s labour secretary, on December 7th as she unveiled plans for 90 new regulatory initiatives to improve the lot of workers. If you doubt her word, try mentioning regulation...

For generations of China watchers, Mira Sinha Bhattacharjea was an objective interpreter of the tumultuous events which unfolded in the Peoples’ Republic.  Mira Sinha Bhattacharjea was one of the world’s leading scholars on China, a political scientist who skirted the minefield that her subject’s often fraught relations with India laid before her peers with integrity, wit and an objectivity of consideration rare in the field of Sinology. Taking to academia at...

While the Union government has been harping on the need for fiscal rectitude, the Maharashtra Raj Bhavan has sent a wish-list to the state government asking for a luxury sedan worth Rs 32 lakh. The Honda Accord 3.5 V6 will be at the service of Alemla Jamir, wife of governor S C Jamir, and the proposal has been sent to the general administration department of the state government along with...

Taking suo motu notice of reports of torture of two minors by the police in Jhundpura, Uttar Pradesh, that too for no cause, the National Human Rights Commission (NHRC) on Tuesday sought an explanation from the State. The NHRC issued a notice to the SSP of Gautambudh Nagar, seeking a “factual” report within four weeks. It said the matter was a serious violation of human rights of minor children. The notice related...