Billions of dollars are being made by investors in a speculative "food bubble" that's created record food prices, starving millions and destabilising countries, experts now conclude. Wall Street investment firms and banks, along with their kin in London and Europe, were responsible for the technology dot-com bubble, the stock market bubble, and the recent U.S. and UK housing bubbles. They extracted enormous profits and their bonuses before the inevitable collapse of...

India, Switzerland had signed a protocol to amend the DTA last year It is expected to help India get details about illicit wealth India may have to wait till at least next year for information from Switzerland on the possible black money trail to Swiss banks, as a treaty for the same might come into force only by the end of 2011. The treaty needs to be ratified by various authorities in India...

The Centre has signed deals or is in talks with 78 countries besides Switzerland to amend double taxation avoidance treaties to facilitate information-sharing on slush funds held by Indians abroad. These countries include Mauritius, Brazil, Canada, Italy, the UK, the US, the UAE and the Channel Islands. The Swiss parliament is set to ratify the tax treaty with changes which will allow India to gain access to information on black money held...

The Supreme Court on Tuesday took strong exception to the Enforcement Directorate (ED) filing an “unsigned” status report about its investigations into the issue of black money stashed in foreign banks. The apex court returned the unsigned status report which was placed before it in the sealed cover to the investigating agency making it clear that “it will not accept the report which has not been signed by any official”. “We want...

SKS Microfinance, India's largest microfinance player, arrived with a bang with its hugely successful IPO in August. However, the recent sacking of its MD and CEO Suresh Gurumani  has opened up a pandora's box that is now threatening to expose the ugly underbelly of the sector which, many allege, is teeming with players who are no better than moneylenders but have so far been able to operate under the pious...