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Economy: Amid the US slowdown, McDonald’s to layoff many this month

April 3, 2023 virendra pandit

Virendra Pandit   New Delhi: Weeks after its CEO said the global fast-food chain will cut jobs in April to cut costs and “free up capital” to invest in growth, McDonald’s has closed many of its US offices for a few days as the company prepares to inform employees about layoffs in April. McDonald’s has […]

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Business

Roving Periscope: Even China dreads, as Pakistan is like a beggar armed with n-bombs, missiles!

March 28, 2023 virendra pandit

Virendra Pandit   New Delhi: When India exploded its first nuclear device in May 1974 and joined the exclusive club of atomic powers, then Pakistan Prime Minister Zulfiqar Ali Bhutto famously announced: “We shall eat the grass but have our bomb.” Nearly five decades later, as a bankrupt Pakistan has the “Islamic Bomb”, its poor […]

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Business

Unprecedented: Ukraine may become the first nation at war to secure $15.6 bn IMF loan

March 23, 2023 virendra pandit

Virendra Pandit   New Delhi:  In its 77-year history, the International Monetary Fund (IMF) is, for the first time, likely to sanction a USD 15.6 billion loan to war-ravaged Ukraine, which Russia invaded on February 24, 2022. Ukraine won staff backing for this loan from the IMF, the media reported. The IMF and officials in Kyiv […]

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Business

Sri Lanka: IMF approves $3 bn bailout to support India’s cash-strapped neighbor

March 21, 2023 virendra pandit

Virendra Pandit   New Delhi: After a year of unprecedented political and economic turmoil which resulted in the overthrow of the Rajapakse dynasty’s stranglehold on bankrupt Sri Lanka, the International Monetary Fund (IMF) approved a nearly USD 3 billion bailout package on Monday for the South Asian island nation. Sri Lanka is burdened with an […]

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Business

Covid-19: Claims of a spike in poverty in India patently false, says study

March 20, 2023 virendra pandit

Virendra Pandit   New Delhi: Claims of a spike in poverty and inequality in India during the Covid-19 pandemic period—2020-21—are patently false as they are based on incomparable surveys. In fact, inequality fell across the country during this period. These are the findings of a paper co-authored by eminent economist Arvind Panagariya, a former Vice-Chairman […]

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Business

Water luxury: UN says bottled water industry can undermine safe water goal for all

March 18, 2023 virendra pandit

Virendra Pandit   New Delhi: A day after Tata Consumer Products called off the talks with Bisleri International, to potentially acquire it for nearly Rs. 7,000 crores, a United Nations report said the rapidly growing bottled water industry can undermine progress towards a key sustainable development goal: Safe water for all. Based on data from 109 […]

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Business

Campa Cola: Reliance relaunches iconic beverage brand in India; to challenge foreign colas

March 10, 2023 virendra pandit

Virendra Pandit   New Delhi: The 50-year-old iconic soft drink brand, Campa Cola, is back in India. The Reliance Group acquired this popular soft drink brand recently for a relaunch across the Indian market, the media reported on Friday. Campa-Cola was the beverage of choice in India until replaced by other foreign ones, like Pepsi […]

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Business

Image makeover: A year after turmoil, China assures Colombo of IMF bailout

March 7, 2023 virendra pandit

Virendra Pandit   New Delhi: Nearly a year after Sri Lanka declared default amid widespread economic and political turmoil—which ended the China-friendly Rajapakse dynasty’s long stranglehold on the island nation—Beijing has mercifully assured Colombo to support Sri Lanka’s debt restructuring. This comes days after China similarly assured its ‘all-weather friend’ Pakistan also as a face-saver […]

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Business

Pakistan: Imran evades arrest, media regulator bans his speeches on TV

March 6, 2023 virendra pandit

Virendra Pandit   New Delhi: Hours after controversial former Prime Minister Imran Khan dodged arrest in the Toshakhana corruption case and made ‘provocative statements’ against state institutions on Sunday, Pakistan’s electronic media watchdog banned satellite TV channels from broadcasting his live and recorded speeches with immediate effect. Evading arrest, Khan, the Pakistan Tehreek-e-Insaf (PTI) chairman, […]

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Business

Roving Periscope: Amid multiple challenges and lower GDP growth, China hikes defense budget

March 6, 2023 virendra pandit

Virendra Pandit   New Delhi: With US President Joe Biden and many other American leaders, cutting across party lines, warning against China’s increasing hegemony and belligerence, Beijing has increased its defense budget for 2023 by 7.2 percent despite its lowest economic growth in 25 years in a post-Covid recovery year. According to the media reports, […]

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