8 October 1987 Reuters News English (c) 1987 Reuters Limited MANILA, Oct 8 – The Philippine peso plunged to a record low of 20.850 against the dollar on Thursday from 20.697 on Wednesday in its biggest single-day fall in President Corazon Aquino’s 19-month rule. A Bankers’ Association of the Philippines spokesman said only one million dollars…
If you look down from a helicopter at any of India’s teeming cities you will see millions of people scurrying around using every known form of locomotion as they move between structures, many of them once described as skyscrapers when we were more down to earth, all busily engaged in every imaginable type of commerce,…
From the Editor India’s Parliament House does not resemble a ziggurat, but it does remind me of the Tower of Babel and how God descended to earth to check things out. He was so alarmed by what seemed achievable by all humans speaking one language, we are told, that he decided to scatter them and…
Of all the functions of the Reserve Bank of India (RBI), there is one routine task crucial to the health of the economy: incinerating the mounds of soiled currency notes well past their prime and providing the commercial banks with mint-fresh replacements. Last month, in an effort to clear the backlog of ‘non-issuable notes’-inevitable when…
Tyres are one essential commodity over which the Government seems to exert no control whatsoever. In the last six months prices have risen twice. And this is despite the fact that the last decade has seen a sudden burgeoning in the number of tyre-manufacturing units, which caused worries last year that there would be a…
Two days after he and a brother judge handed down a blistering verdict in the Centre for Public Interest Litigation & Others vs Union of India & Others case, cancelling 122 telecom licences and severely indicting a former minister, now a jailbird, Justice ASOK KUMAR GANGULY was at peace in his study at home, behind…
Kishore Biyani reveals why he sold a controlling stake in his flagship Pantaloons stores to the Aditya Birla Group in a candid conversation with Chaitanya Kalbag Kishore Biyani is waiting, relaxed, in a darkened hotel suite. He’s just flown in from cool London to broiling Gurgaon. He talks softly and very fast, jumping in before…
Since June 2005, when he took up the mantle of Non-executive Chairman of Hindustan Unilever (then Hindustan Lever), harish manwani has seen three executive leadership changes at the consumer goods major. First, there were two managing directors, Arun Adhikari and S. Ravindranath, under him. Expat Doug Baillie ran hul between March 2006 and April 2008…
The US is on life support, and Asian creditors led by China, which holds $1.16 trillion of US treasuries, control the intravenous drip. Asian central banks will not be dumping their dollar assets, but there is no doubt that US power is waning. For a while there, it looked like we would all, lemming-like, race…