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Roving Periscope: Pakistan to impose fresh PKR 170 billion in taxes, cries for IMF’s $1.1 billion installment

February 16, 2023 virendra pandit

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Virendra Pandit    New Delhi: Reeling under a collapsing economy, severe hardships, and a massive foreign debt burden of over USD 130 billion, cash-strapped Pakistan late on Wednesday introduced a money bill in Parliament to raise PKR 170 billion in fresh taxes (“mini-Budget”) by June this year as part of the strictest terms and conditions of […]

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Business

Tech babies: With 1,300 added last year, India now has 27,000 active startups

February 15, 2023 virendra pandit

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Virendra Pandit   New Delhi:  India, the third largest technology startup ecosystem worldwide after the US and China, added more than 1,300 active startups in 2022, taking the total tally to nearly 27,000. With 23 unicorns in 2022, the South Asian nation also added the second-highest number of unicorns in the world, the National Association […]

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Business

Ahead of Feb 24: The US asks Americans to leave Russia “immediately”

February 13, 2023 virendra pandit

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Virendra Pandit   New Delhi: With the inconclusive Russian invasion of Ukraine entering the second year on February 24, the US has warned its people to leave Russia “immediately”, because of the war and the risk of their arbitrary arrest or harassment by Russian law enforcement agencies on trumped-up charges. The advisory also showed that […]

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English

Earthquakes: US lifts Syria sanctions for 6 months; toll crosses 21k

February 10, 2023 virendra pandit

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Virendra Pandit   New Delhi: As the death toll in Monday’s mega-earthquakes in Turkey and civil war-torn Syria crossed the 21,000 mark, Washington lifted sanctions on Damascus for six months to facilitate the flow of relief aid, and India decided to send more relief to Syria. Turkey’s Vice President Fuat Oktay said the death toll […]

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Business

Roving Periscope: Deadlock with IMF pushes Pakistan closer to Sri Lanka-type default

February 10, 2023 virendra pandit

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Virendra Pandit   New Delhi: In a broke Pakistan, chickens may be coming home to roost as Islamabad stews in its own juice. And the country of 220 million poor people, ruled by the gangs of a few dozen billionaires with an iron hand, Islamist rhetoric, and terrorist mindset, may push itself into a dustbin […]

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Business

Roving Periscope: The US rejects Ukraine’s plea, says no sanctions against India

February 9, 2023 virendra pandit

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Virendra Pandit   New Delhi: Apparently rejecting a recent plea from embattled Ukrainian President Volodymyr Zelensky to clamp sanctions on India for buying discounted Russian oil, the US has said it is not looking to sanction New Delhi, adding its ties with India are “most consequential.” Two weeks ahead of the first anniversary of the […]

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Business

Temblor: Death toll in Turkey, Syria crosses 11k; WHO fears it may go up to 20,000

February 8, 2023 virendra pandit

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Virendra Pandit   New Delhi: With the recovery of a stream of bodies from the widespread debris, the death toll in the Monday earthquakes in Turkey, Syria, and adjoining areas has crossed the 11,000 mark as international teams of rescue and relief operators frantically searched for more survivors. “It is now a race against time,” […]

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Business

Temblor: Death toll mounts to 5,000-plus in Turkey, Syria as India, others rush help

February 7, 2023 virendra pandit

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Virendra Pandit   New Delhi: With over 5,000 people dying, and many more bodies feared trapped in the rubble of thousands of collapsed buildings and other structures after Monday’s triple earthquakes in Turkey and Syria—the strongest of them was measured at 7.8 on the Richter Scale—India and several other countries rushed relief and rescue teams […]

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English

Double whammy: A massive, 7.8 temblor kills hundreds in civil war-torn Syria and Turkey

February 6, 2023 virendra pandit

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Virendra Pandit   New Delhi: A very powerful earthquake, measuring 7.8 on the Richter Scale, hit southern Turkey and northern Syria early on Monday, destroying hundreds of buildings and killing at least 1.300 people, early media reports said, warning of a possible tsunami in the Mediterranean Sea. The death toll and the number of other […]

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Business

Roving Periscope: With the IMF rejecting the plea, Pakistan inches closer to default

February 2, 2023 virendra pandit

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Virendra Pandit   New Delhi: With the International Monetary Fund (IMF) rejecting Pakistan’s revised Circular Debt Management Plan (CDMP) as “unrealistic,” the nearly bankrupt South Asian country has inched closer to default, a la Sri Lanka last year. The global financial institution, in Islamabad to throw a lifeline to a drowning economy, had asked Islamabad […]

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