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Roving Periscope: Pakistan Army has no fuel for tanks; suspends exercises!

July 6, 2023 virendra pandit

Virendra Pandit New Delhi: Two years after then Pakistan Army chief General Qamar Javed Bajwa admitted that Islamabad cannot go to war against India as its tanks were not in working condition, the bankrupt South Asian country’s troops have also run out of fuel and suspended all military drills and war exercises until the […]

Business

Economy: India’s growth sustainable, FinMin says, and cautions against headwinds

July 6, 2023 virendra pandit

Virendra Pandit New Delhi: Noting that the Indian economy grew by 7.2 percent in 2022-23, especially in its last quarter (January-March 2023), the Finance Ministry on Thursday said the country will continue to register sustained growth in a more durable way than before—but also cautioned about the possible headwinds that could pose major challenges, […]

Business

Seasonal cycle: In some Indian cities, tomato is far more expensive than apples, and petrol!

July 6, 2023 virendra pandit

Virendra Pandit New Delhi: The La Nina effect, which extended the onset of the Monsoon season, the Biparjoy cyclone in June, and an extremely hot, humid, and prolonged summer, adversely affected horticulture and floriculture in several Indian states, severely impacting supplies of vegetables and flowers. But tomato took the cake: its high prices in […]

Business

Cliffhanger: IMF approves Pak’s $3bn loan program; may be considered in two weeks

June 30, 2023 virendra pandit

Virendra Pandit New Delhi: Almost bankrupt Pakistan, facing a default on July 1, has clinched initial approval from the International Monetary Fund (IMF) for a USD 3 billion loan program, lowering the risk of a sovereign default, the media reported on Friday. The staff-level agreement is subject to approval by the IMF Executive Board, […]

Business

Farmers’ stir, Covid-19: Karnataka HC fines Twitter Rs. 50 lakhs, rejects its claims

June 30, 2023 virendra pandit

Virendra Pandit New Delhi: The Karnataka High Court on Friday dismissed global microblogging platform Twitter’s plea against the Union Ministry of Information Technology’s order to block its content about the farmers’ agitation and the pandemic and directed it to pay a fine of Rs. 50 lakhs. “You are not a farmer but a billion-dollar […]

Business

Roving Periscope: Now, Putin is hoisted by his own petard—the Wagner militia

June 24, 2023 virendra pandit

Virendra Pandit New Delhi: It was waiting to happen in Russia also which did not pay heed to what she said 12 years ago. As the then US Secretary of State Hillary Clinton warned Pakistan in 2011: “If you have snakes in your backyard, they won’t bite only neighbors.” President Vladimir Putin, who reportedly […]

Business

Modi in Egypt: India may invest in Suez Canal Economic Zone

June 24, 2023 virendra pandit

Virendra Pandit New Delhi: Prime Minister Narendra Modi, who reached Cairo on Saturday, is likely to discuss India’s possible investments in the Suez Canal Economic Zone, where the African nation plans to offer land for Indian companies to set up their units. PM Modi’s two-day State Visit to Egypt at the invitation of President […]

Business

Yet another loan: On the verge of default, Pak gets $1 bn breather from China

June 17, 2023 virendra pandit

Virendra Pandit New Delhi: On the verge of default after June 30, and amid the bailout delays by the International Monetary Fund (IMF), Pakistan on Friday received a fresh loan of USD 1 billion from China, the media reported. Of the USD 130 billion worth of external loans Pakistan has to pay to lenders, […]

Business

Roving Periscope: After the US, China, and Eurozone, NZ’s economy also slips into recession

June 15, 2023 virendra pandit

Virendra Pandit New Delhi: After recessionary trends visible in the US, China, and Eurozone, New Zealand has also slipped into recession, threatening world economies to sink into the like of the Great Depression that roiled the planet from 1929 onwards and pushed the globe into the Second World War. The media reported on Thursday […]

Business

Inflation: India’s WPI declines to a 3-year low of (-) 3.48% in May 2023

June 14, 2023 virendra pandit

Virendra Pandit New Delhi: As Pakistan battles against a record 38 percent inflation, and so do many other countries, India’s Wholesale Price Index (PI) declined to a three-year low of minus 3.48 percent in May 2023, on easing prices of food, fuel, and manufactured items. The WPI-based inflation rate remained in negative territory for […]