The Hindu Business Line : Thursday, June 22, 2006

EDITORIAL
Taxing zones
The dream SEZ concept is turning into a nightmare as the Finance Ministry watches in alarm the prospect of declining tax revenues More

ECONOMY
Triggering the right growth impulses
Estimating potential output is helpful for both policymakers and the markets. Though difficult to arrive at, especially in an interdependent world where uncertainties are far too many, it should be pursued, says A. VASUDEVAN. More

ACCOUNTANCY
Because derivatives are merely contracts, just about anything can be an underlying asset
Derivatives are emerging as a big worry for bankers, alerted H. A. Daruwalla, CMD of Central Bank of India, when speaking in Kolkata a few days ago. She highlighted the need for accounting standards on recognition, measurement and presentation of ... More

Secondees, on second thoughts
BPO units may transfer the payroll of the secondees from the foreign parent to the Indian subsidiary. More

M&A with a foreign company
Is there any legal bar on sanction of amalgamation of Indian and foreign companies? More

The Company, a tragedy
How the East India Company shaped the modern multinational. That's the sub-title on the cover of Nick Robins' The Corporation that Changed the World, from Orient Longman. Sounds eulogistic, as much as the back cover, which begins by ... More

FOREIGN DIRECT INVESTMENT
Going global with outbound FDI
Policy-makers must ponder over an active outbound FDI framework as a strategy for export promotion and an attempt at globalisation. More

LETTERS
Safety norms at Defence airfields
The surge in airline operations in India has brought into focus operational safety at Defence airfields. Commercial demands require airlines to operate in airports under the control of the Defence services. Are the mandatory ICAO (International ... More

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