The Panama Papers leak is not representative of the fact that countries have become smarter at detecting money laundering. The global financial system continues to favour those with the means to hide their money

Nigam Nuggehalli: Just the tip of the money-laundering iceberg

Business Standard

Switzerland finally signed an agreement to exchange information on potential money launderers and tax dodgers last week but neither this nor a modified tax avoidance treaty is likely to help India

Nigam Nuggehalli: Artful dodges in Swiss tax pacts

His ground-breaking work in legal philosophy placed moral obligations at the centre of political and legal practicesIf anyone had the right to be called a public intellectual in the United States, it was Professor Ronald Dworkin, the legal and constitutional scholar who died last week. Dworkinâ€™s views on individual rights, equality, abortion, euthanasia, constitutional liberties and public policy were delivered with the kind of erudition and aplomb rarely seen nowadays in the public sphere. However, in spite of his voluminous writings on a variety of political subjects, Dworkin is best known for his groundbreaking work in legal philosophy.Legal philosophy in the Anglophone world was revived by the great Oxford philosopher, H L A Hart, but it was Dworkin who used legal philosophy as a powerful tool of public advocacy on a scale hitherto not seen through his trenchant writing in law journals as well as in The New York Review of Books. Dworkin challenged t

Moral force

Prime Minister Manmohan Singh has asked a committee headed by Parthasarathi Shome to look into the General Anti-Avoidance Rules (GAAR) regime. This is a good time to reassess the government&rsquo;s proposal on GAAR and re-think why these proposals were introduced in the first place. It appears inevitable that there will be a set of amended GAAR rules by the end of this year once the Shome Committee submits its report.

Nigam Nuggehalli: Who will guard the GAAR?

Ruben Amorim etched his name into Manchester United folklore, becoming the first Red Devils manager since the legendary Sir Alex Ferguson to win the his first Manchester derby.

Ruben Amorim

While CM Nitish Kumar is seeking to consolidate his party's woman vote base, Tejashwi Yadav is trying an image makeover for the RJD

Tejasvi

Both BJP and Congress are chalking out strategies to make the most of the anti-incumbency that may have set in during the Aam Aadmi Party's 10 years in office

KEJRIWAL

Tabla maestro Zakir Hussain has been admitted to the ICU of a San Francisco hospital with heart related problems, his friend and flautist Rakesh Chaurasia said on Sunday.
The 73-year-old US-based musician, who has taken the tabla to the global stage, had been having blood pressure issues, added Hussain's manager Nirmala Bachani.
"He has been admitted to a hospital in San Francisco for a heart related problem for the last two weeks," Bachani said.
"He is unwell and admitted in the ICU right now. We all are worried about the situation," Chaurasia told PTI.
The eldest son of legendary tabla player Allah Rakha, Hussain has followed in the footsteps of his father, becoming a marquee name in India and across the world. Hussain has received five Grammy Awards in his career, including three at the 66th Grammy Awards earlier this year.
In his career spanning six decades, the musician has worked with several renowned international and Indian artistes, but it was his 1973 musical project wit

Zakir Hussain

Tawakley talks about his hits and misses in 2024 as a fund manager, and the opportunities and key risks for the markets in the year ahead

Anish Tawakley, Co-CIO — Equity, ICICI Prudential AMC

The Bengaluru police arrested Nikita Singhania from Gurugram while her mother and brother were arrested from Prayagraj in Uttar Pradesh

Nikita Singhania arrest

You have come at a time when the growth-inflation dynamics is changing and the rupee is under pressure

Sanjay Malhotra

RCap subsidiaries to get listed by mid-2026, 2027

reliance capital

Catch all the latest happenings from around the world here

The much-anticipated provision of the deal value threshold (DVT) under the Competition Amendment Act 2023, notified on Monday, seeks to capture mergers and acquisitions (M&As) where the deal value exceeds Rs 2,000 crore or where the target company ha

India's import of Russian crude oil dropped in November to its lowest level since June 2022 but the Kremlin continues to be the biggest source of oil for India, according to a monthly tracker report of a European think tank.
India became the second biggest buyer of Russian crude oil since Moscow invaded Ukraine in February 2022, with purchases rising from less than one per cent of the total oil imported to almost 40 per cent of the country's total oil purchases.
The rise was primarily because the Russian crude oil was available at a discount to other internationally traded oil due to the price cap and the European nations shunning purchases from Moscow.
"India's imports of Russian crude oil dropped by a massive 55 per cent in November - the lowest figure since June 2022," the Centre for Research on Energy and Clean Air (CREA) said its latest report.
Russia remained India's top oil supplier, followed by Iraq and Saudi Arabia.
"China has bought 47 per cent of Russia's crude exports,

Russia’s state-owned oil firm Rosneft has agreed to supply up to 500,000 barrels per day (bpd) of crude oil to Indian upstream oil and gas major Reliance Industries (RIL) in the largest-ever energy deal between the two countries, Reuters reported on

Russia's state-owned oil firm Rosneft has agreed to supply up to 500,000 barrels per day (bpd) of crude oil to Indian upstream oil and gas major Reliance Industries (RIL) in the largest-ever energy deal between the two countries, Reuters reported on

Top US officials were in the Middle East on Thursday, pushing for stability in Syria and an end to Israel's 14-month war in the Gaza Strip in a last-ditch diplomatic push by the outgoing Biden administration before President-elect Donald Trump takes office in a few weeks.
Secretary of State Antony Blinken was in Jordan and Turkey for talks on how to ensure a peaceful transition of power in Syria following the ouster of longtime President Bashar Assad, while White House national security adviser Jake Sullivan was in Israel in a bid to wrap up a ceasefire with Hamas militants.
A ceasefire would give President Joe Biden a final diplomatic victory after a turbulent term in which his administration has been unable to halt a brutal war that has claimed tens of thousands of lives in Gaza and plunged the territory into a humanitarian crisis.
Trump has demanded the immediate release of hostages, threatening on social media that otherwise there would be HELL TO PAY, and has urged the US not t

Joe Biden

Here are the best of Business Standard's opinion pieces for today

Union Budget, Budget 2024, agriculture, farming, farmers

The Shiv Sena will contest the Brihanmumbai Municipal Corporation (BMC) polls, likely to be held next year, as part of Maharashtra's ruling alliance Mahayuti, said Deputy Chief Minister Eknath Shinde on Thursday.
Talking to reporters after a meeting with former BMC corporators, party MLAs, MPs and functionaries, Shinde said Mumbai has to be country's powerhouse and for doing so Mahayuti has to control its civic body just like it is in power in the state as well as at the Centre.
The BMC polls will be contested as Mahayuti (alliance) in all 227 civic wards, said Shinde, who heads the Shiv Sena.
The BJP, Shiv Sena and NCP are part of the Mahayuti alliance.
Shinde's remarks assume significance as his main rival Shiv Sena (UBT), which is part of the opposition MVA, has hinted it may go solo in the BMC polls.
Shinde said the Mahayuti government under him undertook several steps with regards to Mumbai's developmental work. He also listed steps taken to concretise roads to make them poth

Eknath Shinde, Eknath

Over 62 million cases of tuberculosis and eight million deaths are estimated in India in the two decades up to 2040, along with a Gross Domestic Product (GDP) loss of more than USD 146 billion, according to a study.
The researchers, including those from the London School of Hygiene and Tropical Medicine, UK, said that low-income households would bear the larger share of health-related burden, while the high-income ones the larger share of the economic burden due to the disease.
Tuberculosis is a bacterial disease that can spread in the air when an infected person coughs, sneezes or speaks. Primarily affecting the lung, the condition can be potentially fatal, as it can spread to other organs. The common symptoms include a persistent cough, chest pain, fever and fatigue.
Improving case detection rates -- currently estimated to be 63 per cent -- and meeting the World Health Organization's End-TB target of 90 per cent could reduce clinical and demographic disease burdens by 75-90 per ..

Eighty-six Indian nationals were attacked or murdered in various countries in 2023, the government informed the Parliament on Thursday.
Minister of State for External Affairs Kirti Vardhan Singh shared the data in a written response to a query.
In his response, he shared country-wise data for the the last three years.
The figures were -- 29 in 2021, 57 in 2022 and 86 in 2023.
In 2023, out of the 86 Indian nationals who were attacked or murdered, the figures for the US stood at 12, while it was 10 each for Canada, the UK and Saudi Arabia, as per the data shared.
"The safety and security of Indians abroad is one of the foremost priorities for the government of India. Our Missions and Posts remain vigilant and closely monitor any untoward incident. Such incidents are immediately taken up with the concerned authorities of the host country to ensure that the cases are properly investigated and the perpetrators are punished," he said.
These issues are also raised during meetings with t

Nigam Nuggehalli

Nigam Nuggehalli

Nigam Nuggehalli

Nigam Nuggehalli: Just the tip of the money-laundering iceberg

Nigam Nuggehalli: Artful dodges in Swiss tax pacts

Moral force

Nigam Nuggehalli: Who will guard the GAAR?

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