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Roving Periscope: The US Senate raises the limit to avert a first-ever default

June 2, 2023 virendra pandit

Virendra Pandit New Delhi: On Thursday, the US Congress took final steps to avert the nation’s first-ever default. And world economies heaved a sigh of relief when, fending off a US default, the Senate finally approved with a vote of 63-36 a debt-ceiling and budget cuts package, sealed the bipartisan deal, and sent it […]

Business

De-dollarization: BRICS propose local currencies in trade, transactions

June 2, 2023 virendra pandit

Virendra Pandit New Delhi: In yet another move to free world trade from the predominance of the US dollar and other European currencies, the group of Brazil, Russia, India, China, and South Africa (BRICS) on Friday underlined the need for using local currencies in international trade and financial transactions, as they committed to support […]

Business

Debt-ceiling: As the House nods, no US default for now; Bill sent to the Senate

June 1, 2023 virendra pandit

Virendra Pandit New Delhi: Ahead of the June 5 default deadline, the US Congress’ Lower House (House of Representatives) on Wednesday passed the debt-limit legislation forged by President Joe Biden and Speaker Kevin McCarthy that would impose restraints on government spending through the 2024 election and sent it to the Upper House (Senate) for […]

Business

Indian politics overseas: Khalistan supporters heckle Rahul Gandhi at an event

May 31, 2023 virendra pandit

Virendra Pandit New Delhi: Former Congress President Rahul Gandhi was on Tuesday heckled by a group of Khalistan supporters, who shouted slogans against him and briefly interrupted his speech during an event in the US state of California, the media reported on Wednesday. The incident occurred when Gandhi, who lost his Lok Sabha membership […]

Business

Roving Periscope: Facing the ICC warrant, Putin gets diplomatic immunity in South Africa for BRICS Summit

May 30, 2023 virendra pandit

Virendra Pandit New Delhi: South Africa has granted diplomatic immunity to Russian President Vladimir Putin, against whom the International Criminal Court (ICC) in The Hague had issued an arrest warrant two months ago for his alleged war crimes in Ukraine, enabling him to participate in the forthcoming BRICS Summit in August 2023. Pretoria has […]

Business

Road to the Moon: China sends first civilian to its Tiangong Space Station

May 30, 2023 virendra pandit

Virendra Pandit New Delhi: China on Tuesday sent three astronauts to its Tiangong Space Station, including the first civilian, into Earth’s orbit, ahead of its plans to send a crewed mission to the Moon by 2030. Tiangong means “Heavenly Palace.” China plans to send two crewed space missions to Tiangong every year. The next […]

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Russia: Belarus President Lukashenko rushed to a Moscow hospital after meeting with Putin

May 29, 2023 virendra pandit

Virendra Pandit New Delhi: After he met his close ally Vladimir Putin in Moscow, Belarus President Alexander Lukashenko was rushed to a hospital in the Russian capital, the media reported on Monday. An opposition leader in Belarus claimed that the Kremlin poisoned President Lukashenko. Stating that Lukashenko was in critical condition at the Central […]

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Roving Periscope: Ahead of PM Modi’s US visit, India puts pressure on China

May 29, 2023 virendra pandit

Virendra Pandit New Delhi: Nearly three weeks before Prime Minister Narendra Modi’s first State Visit to the United States (June 21-24), and amid a move to induct India into NATO, External Affairs Minister S. Jaishankar’s latest remarks that New Delhi is facing a “very complicated challenge” from Beijing in the last three years is […]

Business

The $31.4 trillion conundrum: US Congress may approve the Biden-McCarthy deal on Wednesday

May 29, 2023 virendra pandit

Virendra Pandit New Delhi: Democrat US President Joe Biden’s “compromise” with Republican House Speaker Kevin McCarthy on raising the USD 31.4 trillion debt ceiling may have averted the danger of a looming American default after June 1 that would have sent world economies in a tailspin. Similar situations have arisen in the past as […]

Business

Roving Periscope: Ahead of PM Modi’s US visit in June, a NATO ‘invite’

May 27, 2023 virendra pandit

Virendra Pandit New Delhi: It was in the works for some years. And got a boost when India joined the revivified Quadrilateral Security Dialogue (Quad) three years ago, becoming the fourth democracy after the US, Australia, and Japan to create what is viewed as an informal “Asian NATO”, striving to contain China. Now, as […]