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Popular Articles

Over 60% employees ready to quit work: survey
If you thought a job is something people are dying to hold on to when the going in the market is tough, you couldn"t be more wrong as a survey has found that more than half are ready to quit work, switch professions or take a break.

V V: The Terror Axis: Taliban, ISI & opium
Gretchen Peters’ Seeds of Terror: The Taliban, the ISI and New Opium Wars (Thomas Dunne Books, Hachette India reprint, Rs 495) tells you why Afghanistan and Pakistan’s North West Frontier provinces will always be on the boil that will spread into the Punjab and increase in intensity, as recent events have shown. Aided and abetted by rampant corruption spread by poppy growers to the Taliban and other local powers, to drug lords and their allies in government, the influence of opium money pervades Afghan life. Afghanistan today provides 93 per cent of the world’s heroin, far exceeding the combined production of Colombia, north Myanmar, Thailand and other regions of the world. Peters examines the depth of the opium problem and describes how opium sales have ballooned since 2001 and continue to grow exponentially, earning more than half a billion dollars off the opium trade. Why and what could be the consequences for us is the central question asked in the book.

News of the day

Andhra Bank eyes Rs 3600 cr business in Vizag
The Visakhapatnam zone of Andhra Bank is targeting to end the current financial year with a total business of Rs 3,600 crore.
International Business

Subhiksha stores to reopen as franchises

Two stores to open in Chennai, hiring begins. - Back in business? - 2009: Organised retail feels recession pangs - HC told to take up Subhiksha merger plea first - Madras HC asked to take up Subhiksha merger plea first - Vishal Retail admitted for CDR, details to be worked on - SC to give directions in Subhiksha case tomorrow Subhiksha Trading Services, the retail chain whose stores have been closed for more than a year for lack of money, is planning to reopen some through a franchise model, say sources. Renovation at two shops in the city are in full swing and advertisements for sales boys and girls have been placed. A notice outside one of the shops stated the salary would be in the range of Rs 3,500 to Rs 6,000 per month. When a staffer of this newspaper took photographs, staffers from the shop came out and snatched the camera, returning it only after deleting all photos taken. E-mails sent by this correspondent to R Subramanian, promoter and managing director, remained unanswered. Subramanian had earlier stated the retail chain would require Rs 300 crore to get back into business. However, creditors have decided not to lend any more money and there are petitions being heard in the High Court to wind up the company. Subhiksha had also filed for a compromise with its creditors, but this was dismissed. ICICI Bank had stated that Subhiksha has an exposure of Rs 870 crore to banks, Rs 107 crore to unsecured lenders and Rs 250 crore reserves, “which none of us know where it went”. The bank has also asked for a probe.


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