Business Today October 9, 2016

The financial sector in India boasts of some of the more high-profile women CEOs and other C-suite executives. It is also the sector where women first broke through the glass ceiling. But in 1965, when Tarjani Vakil joined IDBI as its first woman officer, she was asked helpfully by a senior male colleague to go sit next to another woman in the office – a stenographer. It took several years before her male colleagues came to accept her in the workplace. In 1993, she became the first woman to head a financial institution in India – as chairperson and managing director of EXIM Bank. Ranjana Kumar, who joined as a probationary officer in Bank of India in 1966, became the second woman to crack the C-suite in Indian finance, and…

Thank You BT for Pampering Readers This refers to your special edition The Luxury Issue 2016 (Sept. 25). It is simply awesome! The collection and showcasing of various luxury products from around the world was, indeed, mind-boggling. Well, luxury means different things to different people. Something that is an indulgence rather than a necessity, sumptuous or expensive, providing great ease and comfort – these are all definitions of luxury. No longer can something be considered a luxury just based on cost, marketing campaigns or desires. To quote Coco Chanel: “Some people think that luxury is the opposite of poverty. It is not. It is the opposite of vulgarity.” Luxury is anything that feels special. Yes, it can even be a moment, it can be a walk on the beach, it…

$505.1billion, or 7.69 per cent of GDP, is India’s welfare losses due to air pollution, next only to China’s $1,589.7 billion, in 2013. Globally, the losses stood at $5.11 trillion, according to a World Bank-University of Washington study. SURGE GAINS PAYS Surge pricing for 131 premium trains will fetch Indian Railways an additional `500 crore from the passenger segment in 2016/17. The segment has been heavily cross-subsidised by the freight segment, which accounts for 65 per cent of its gross traffic receipts. SPEED TEST The high-speed Talgo train completed the final trial run between New Delhi and Mumbai Central in 11 hours and 48 minutes, covering a distance of 1,384 km at a maximum speed of 150 kmph. In comparison, the Rajdhani Express takes around 16 hours. HAMMERING OUT The…

19 - 20 SHRINK CO2 FOOTPRINT WHAT: Asia-Pacific Summit on Low Carbon Technology WHEN: 19-20 October, Changsha, China WHAT TO LOOK FOR: The summit organised by Asian Development Bank will highlight global-, regional-and country-specific success stories in development and deployment of low-carbon technologies, induce greater levels of investments, and stimulate transfer of technologies through networking and partnership. 06 SHOT IN THE ARM WHAT: Biopharma: Emerging Investment Destination WHEN: 6 October, Hyderabad WHAT TO LOOK FOR: Assocham’s aims to promote pharmaceutical enzymes manufacturing, animal and human vaccines, and diagnostics kit manufacturing and marketing industries, besides providing a platform for pharma and biotech companies to network and discuss the future of the industry with Central and state governments for potential investments. 04 CAPITAL GAINS WHAT: CAPAM 2016 WHEN: 4 October, Mumbai WHAT…

For the past seven months, the Indian equity market has been on a roll. The BSE Sensex has surged 30 per cent from 22,494.61 on February 29. There were several reasons for the uptick. The recent rally between August 25 and September 8, however, was dominated by liquidity flows. In nine trading sessions, the Sensex gained nearly 5 per cent, crossing the 29,000 mark for the first time in 17 months to touch 29,077.28 on September 8. “There was no particular reason for the market to go up. You can’t fight liquidity. When the markets are driven by liquidity, it drives stock prices crazy and if you do not want to burn your fingers, you just have to stay on the sidelines and be a spectator,” says a fund manager,…

If the number of topics discussed is a measure of success, the just-concluded meeting of the Group of Twenty (G20) – the international forum of key developed and emerging economies, including India – makes the cut. From climate change and Brexit to the perils of antimicrobial resistance to terrorism, the 7,000-word communiqué jointly issued by the G20 leaders after the two-day summit in Hangzhou, China, on September 5, identifies a host of problems and suggests remedial measures. The Hangzhou Consensus – the package of policies and actions that has been agreed upon – calls for synergy among fiscal, monetary and structural policies of member countries. There is also a pledge to reject protectionism, and strengthen global trade and investment through the multilateral trading system. Emphasis has also been given to…