China’s Evergrande group, identified as the world’s most indebted property company with accumulated liabilities in excess of $300 billion, missed an interest payment instalment due on September 23, 2021 on bonds borrowed through US dollar bond markets. Though the company…
The International Monetary Fund has announced a fresh issue of $650 billion Special Drawing Rights in August which would be distributed among member countries in proportion to their IMF quotas. This amount is less than what had been demanded by…
Carbon prices in the European Union (EU), or the value of one unit of an EU allowance (EUA) that gives the holder the right to emit one tonne of carbon dioxide (or its equivalent of other greenhouse gasses), are soaring.…
Announced with much fanfare as an innovative means of financing greenfield infrastructural projects, the National Democratic Alliance government’s asset monetisation plan raises a host of concerns. It seems predicated on undervaluing potential returns over a longish period to make the…
With its gross debt as of March 31, 2021 placed at Rs. 1.8 lakh crore and losses in the preceding quarter totalling more than Rs. 7,000 crore, Vi (former Vodafone Idea), once India’s largest telecom company in terms of subscriber…
6.25 x 9.5 inches (x+382) 392 pages Hardback ISBN: 978-81-947175-9-1 Rs 1200 For sale in India and South Asia only Mainstream economics invariably sees capitalism as an isolated and closed system. In this path-breaking book, authors Utsa Patnaik and Prabhat…
ESG investing, or investment that looks to “environmental, social and governance” factors when deciding on potential targets, is much the rage. High net worth investors concerned about human rights, inequality, environmental degradation and climate change have embraced the ‘movement’, happy…
The multiple encounters with government agencies and the courts of Videocon Industries—the now bankrupt durables-to-energy corporate group—on charges of violations of one kind or another get curiouser by the day. Having put behind media attention on allegations such as corruption…
On 16 July 2021 India’s foreign exchange reserves stood at $612.7 billion. That was almost 30 per cent higher than its level of $475.6 billion at the end of March 2020, when the effects of the pandemic began to be…
On July 19, 1969, 14 major banks were nationalised in the country. Today, after 52 years there is some talk again of privatising the nationalised banks, which naturally raises the question: why were banks nationalised at all? The answer to…
