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Gurcharan Das: Relax, capitalism is not the problem
The epic, Mahabharata, thinks that human beings are fundamentally flawed and their faults make the world “uneven” (vishama). As a result, they are vulnerable to nasty surprises. Duryodhana is the chief purveyor of “uneveness” in the epic, but the others also contribute to it in good measure — Yudhishthira cannot resist gambling; Karna suffers from status anxiety; Ashwatthama has a revengeful nature; Dhritarashtra is prone to excessive love for his eldest son and so on. These human defects drive the epic towards calamity. Like the Mahabharata’s characters, investment bankers on Wall Street, rating agencies and even regulators suffer from similar failings, and it is these dangerous infirmities that brought the global capitalist system to its knees in 2008.

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Singh, Wen agree to strengthen India-Sino ties
Seeking to put behind the recent verbal spat between India and China over Arunachal Pradesh, Prime Minister Manmohan Singh and his counterpart Wen Jiabao today agreed to build trust and understanding and strengthen the bilateral strategic ties.

News of the day

F&O OUTLOOK: Correction to stay on course
The Sensex and the Nifty closed in the red on Friday on profit-booking in technology stocks and lack of interest in other pivotals at current levels. The trading volume on the F&O segment remained lackluster as the Nifty provided little scope for trading since it moved in a tight range of 20-30 points on Friday.
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Moser Baer India Q1 net profit at Rs 2.76 cr

Moser Bear India, an optical storage manufacturer, posted a net proft of Rs 2.76 crore for the first quarter ended June 2009 as compared to net loss of Rs 103.98 crore for the quarter ended June 30, 2008. - Moser Baer, Philips settle patent dispute - Moser Baer up on patent settlement - NEWSALERT: Moser Baer, Philips reached settlement on patents issue - Moser Baer India FY"09 net loss at Rs 150.86 cr - Moser Baer gains 3% on new LCD launch - Moser Baer launches eight new LDC TV models Total income has increased to Rs 563.40 crore from Rs 496.8 crore for the quarter ended June 30, 2008. The company has reported a 12.96 per cent decrease in consumption of raw materials, alongwith an increase in stock in trade/ work in progess at Rs 33.12 crore up from Rs 12.78 crore in Q1FY09. Employee cost also rose 11.8 per cent year-on-year. During the quarter, Moser Baer signed an agreement with Philips ending a series of disputes in multiple jurisdications pertaining to recordable CDs and DVDs, and entered into a licensing agreement with Philips on recordable CDs and DVDs, with effect from Jan 1st 2009.


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