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Roving Periscope: As the wealthy frolic, broke Pakistan announces austerity for ministers, officers

February 23, 2023 virendra pandit

Virendra Pandit   New Delhi: A week after hundreds of wealthy Pakistanis thronged an upmarket mall in Lahore and queued up for hours to grab expensive branded coffees and pastries from Canadian food chain Tim Hortons, Islamabad announced on Wednesday some ‘austerity measures’ for ministers and officials to somehow impress the International Monetary Fund (IMF) […]

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Business

Roving Periscope: A year on, Putin blames the West for Ukraine war, suspends START

February 21, 2023 virendra pandit

Virendra Pandit   New Delhi: Two days before the first anniversary of the ongoing Russian invasion of Ukraine on Friday, President Vladimir Putin accused the war-torn neighbor and the West of provoking the conflict with the expansion of NATO and new European anti-rocket defense systems, and developing military contingents on the border of Russia. Since […]

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Business

‘Protect the poor, tax the rich,’ IMF asks broke and embattled Pakistan

February 20, 2023 virendra pandit

Virendra Pandit   New Delhi: After Defense Minister Khwaja Asif’s open admission last week that Pakistan is bankrupt and has already defaulted, the International Monetary Fund (IMF) has asked the nearly cashless country to protect the poor and impose more taxes on the wealthy as the South Asian nation seeks to unlock funds from the […]

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Business

Roving Periscope: Ahead of Feb 24, US President Joe Biden secretly visits Ukraine

February 20, 2023 virendra pandit

Virendra Pandit   New Delhi: Just three days ahead of the first anniversary of Russia’s invasion of Ukraine on February 24, US President Joe Biden made a surprise visit to the war-torn nation’s capital, Kyiv, on Monday, the New York Times reported. The US President arrived in Kyiv after a long train drive from the […]

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Business

Power: A year after, the Sri Lankans to gets back 24×7 light—at a higher cost, though

February 16, 2023 virendra pandit

Virendra Pandit   New Delhi: After Pakistan’s collapsing economy hogged the headlines in recent months, India’s yet another next-door neighbor Sri Lanka has brought some good news: the Sri Lankans, reeling under unprecedented economic hardships will now get 24×7 electricity, although at a higher cost. The media reported on Thursday that, after a year of […]

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Business

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

February 16, 2023 virendra pandit

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

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

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

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

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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