For India Inc. terror cover was the priority of the insurance industry ever since the Mumbai serial car bomb blasts of March 12, 1993, that severely damaged the Bombay Stock Exchange building. Now, India Inc. is scurrying to buy fresh terror cover even while others rush to augment their terror policies in the wake of 26/11 attacks. Nitya Varadarajan reports.
The devastating terror attacks on several Mumbai landmarks have taken the wind out of the economy and forced many foreign businesses to temporarily shun India. But one sector has never had it so good: the security industry. While most Indian companies are facing bleak times, security firms are having their day in the sun. Anusha Subramanian reports.
The Mumbai terror attacks punctured business sentiment already deflated by a spreading slowdown. The economic stimulus now needed is not just of liquidity but of foolproof security and targeted expenditure.
Price reduction on Friday, rate reduction on Saturday and tax cuts on Sunday. The first weekend of December saw the government announcing a slew of both fiscal and monetary measures. But a flagging economy needs more.
Many foreign business people scheduled to visit Mumbai in the coming days might have cancelled or put off their trips, but the expatriates who have made this country, and more so Mumbai, their home are not packing their bags yet just because of the terror attacks. Anusha Subramanian, Kushan Mitra and Suman Layak report.
The attacks came at a time when the economy wasn't in shipshape due to the global credit crisis. Now, the government needs to act decisively to minimise the impact of the terror attacks on the economy. Rishi Joshi and Rachna Monga go into the details.
Mumbai's five-star hotels are a stage for furious networking for the business community. On 26/11, they became a death trap. BT brings you accounts of a few who made it out alive.
Terrorists find many sources of money—and, surprisingly, quite a lot of it is legitimate. Even as India plans to beef up its security and surveillance systems, it is equally important to choke the funding lines to the terror organisations. Shalini S. Dagar reports.
Andrew Horne, Managing Director, Xerox India, is not only a corporate veteran at the American firm but also an alumnus of the Royal Military Academy who served for six years with the Royal Scots Dragoon Guards. He spoke to Kushan Mitra on how companies could be prepared for extreme eventualities like the recent terror attacks in Mumbai.
Devastating Al Qaida attacks rattled the economies of the US, UK and Spain but swift government policies prevented their economies from tanking. Can India learn from them? Puja Mehra finds out.
Alex Wilmot-Sitwell’s visit to India in early November was against an extraordinary backdrop. It came at a time when UBS worldwide is struggling to recover from a financial crisis that has taken down rival Lehman Brothers. In an exclusive chat with BT’s Rachna Monga, Wilmot-Sitwell talks about the long-term implications of the financial crisis for UBS as well as its plans for India.
R. Mukundan, 42, will be one of the youngest Managing Directors of Tata Chemicals when he takes charge of his new assignment from the current Managing Director, Homi Khusrokhan, who retires December-end. In a chat with BT, Mukundan shares the challenges for the company and how he plans to take them on, especially in the US, where the company has acquired a chemicals firm. Excerpts:
Even as India struggles to stave off any further slowdown, some of the biggest economies of the world have already sunk into a recession. These include the US, the UK, Japan, France, Germany and Singapore.
A quick look at the way some of these economies have performed over the last three quarters
As more Indians get connected and access a host of news and social networking sites, India’s Internet traffic is showing a marked increase. According to Akamai Technology’s Quarterly State of the Internet Report for the third quarter of 2008, India had 2.6 million Internet protocol (IP) addresses—up 23 per cent over the second quarter this year. Most Indians continued to use the internet for e-mail and social networking.