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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, […]

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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 […]

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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 […]

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Business

Roving Periscope: Broke Pakistan’s FY24 budget sets aside half the loaf to pay the debt

June 10, 2023 virendra pandit

Virendra Pandit   New Delhi: With no lender ready to help it any longer, a nearly bankrupt Pakistan has set aside half of its USD 51 billion budget for the financial year 2023-24 to service its crippling external debt amounting to over USD 125 billion. No new taxes have been levied in this budget as […]

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Business

Technology: India’s Internet-based economy to grow 6-fold to USD 1 trillion by 2030

June 6, 2023 virendra pandit

Virendra Pandit   New Delhi:  As the Indian economy marches ahead, the South Asian country’s Internet-based economy is likely to grow exponentially six-fold to USD 1 trillion by 2030, mainly driven by the e-commerce vertical, a report said on Tuesday. This growth will be led by the B2C e-commerce segment, followed by B2B e-commerce, software-as-a-service […]

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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 […]

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Business

Food storage: India to develop the world’s largest facility, invest Rs. 1 lakh crore

May 31, 2023 virendra pandit

Virendra Pandit    New Delhi: Amid the disruptions in food supply and high inflation because of the ongoing Russia-Ukraine war increasing food security concerns in several countries, including India, New Delhi has approved the world’s largest foodgrain storage scheme, envisaging an investment of Rs. One trillion (Rs. One lakh crore). Under this plan, every block […]

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Business

Economy: As demand grows, Sri Lanka is to import 1 mn eggs daily from India

May 30, 2023 virendra pandit

Virendra Pandit    New Delhi: A year after it faced its worst-ever economic crisis and declared a default, Sri Lanka has decided to import one million eggs every day from five chicken farms in India as the island country slowly limps back to normalcy, thanks to New Delhi’s timely assistance and a recent IMF bailout […]

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Book Review

Multiple Whammy: Amid relentless political turmoil, Pakistan’s economy coming to a grinding halt

May 25, 2023 virendra pandit

Virendra Pandit   New Delhi: Amid continued political uncertainty, the Imran Khan factor, terror attacks on its Afghan borders, threats of a civil war or a military coup, and a bankrupt financial system, an already shattered economy in Pakistan is coming to a near-grinding halt by next month, which may finally force it to announce […]

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Business

Lunch diplomacy: PM Modi’s lunch for FIPIC guests showcased Indian varieties, cuisines

May 22, 2023 virendra pandit

Virendra Pandit   New Delhi: Prime Minister Narendra Modi’s lunch for leaders of the Forum for India-Pacific Islands Cooperation (FIPIC) in Papua New Guinea showcased the diversity of Indian cuisines. The Indian PM along with his Papua New Guinea counterpart James Marape co-hosted a key Summit between India and 14 Pacific Island countries to boost bilateral ties. […]

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