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

February 6, 2023 virendra pandit

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 […]

Business

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

February 2, 2023 virendra pandit

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 […]

Business

Budget@24: Free ration for a year, push to the farm sector

February 1, 2023 virendra pandit

Virendra Pandit New Delhi: With global geopolitical, economic, and Covid uncertainties persisting, and ahead of crucial elections to the nine Vidhan Sabhas and the Lok Sabha in the months ahead, the government on Wednesday extended free ration support to the urban and rural poor for another year. In her Budget speech, Finance Minister Nirmala […]

Business

Roving Periscope: From this weekend, China may witness 36,000 Covid deaths, daily

January 18, 2023 virendra pandit

Virendra Pandit New Delhi: Fears of a dark Covid-19 winter in rural China grew exponentially this week as the Asian country descended into uncertainty. Just four days ahead of the Lunar New Year (January 22-23), the media reported on Wednesday that China is likely to see nearly 36,000 Covid deaths a day during this […]

Business

WEF: India, B’Desh may benefit in likely global recession in 2023

January 16, 2023 virendra pandit

Virendra Pandit New Delhi: A global recession is likely this year but India and Bangladesh may benefit from global trends, the World Economic Forum (WEF) said on Monday. Pressures on food, energy, and inflation may peak in 2023, the WEF, in its Chief Economists Outlook Survey, said, according to the media reports. Some economies […]

Business

Covid explosion: Finally, China admits 60,000 deaths in a month!

January 16, 2023 virendra pandit

Virendra Pandit New Delhi: A week before the worried Chinese celebrate their Lunar New Year on January 22, and amid hundreds of millions of people crisscrossing China for this 40-day-long event, Beijing, on Saturday last weekend, admitted witnessing almost 60,000 Covid-related deaths in a month, as the tides of deadly infections swept the country. […]

Business

Roving Periscope: ‘One percent of Indians own over 40% of the country’s wealth’

January 16, 2023 virendra pandit

Virendra Pandit New Delhi: The wealthiest one percent of people in India now own more than 40 percent of the country’s total wealth, while the bottom half of the population together share just 3 percent of the wealth, the media reported on Monday. Releasing the India supplement of its annual inequality report on the […]

Business

Roving Periscope: World braces for the worst as 900 mn Chinese now Covid-infected

January 14, 2023 virendra pandit

Virendra Pandit New Delhi: With the internal migration of hundreds of millions of Chinese beginning on January 7 for the Lunar New Year on January 22-23, over 900 million people in the Asian country are estimated to have already contracted infections because of the fresh resurgence of Covid-19 pandemic, the media reported on Saturday. […]

Business

Global South: PM Modi advocates ‘equivalent voice’ at all forums

January 12, 2023 virendra pandit

Virendra Pandit New Delhi: Advocating an ‘equivalent voice’ for the countries of Global South on all international forums, Prime Minister Narendra Modi on Thursday said the voice of these countries and their priorities are also that of India. Addressing the inaugural leaders’ session of the “Voice of Global South: For human-centric development,” through video-conferencing, he […]

Business

Global economy: World Bank slashes growth forecasts to just 1.7% in 2023

January 11, 2023 virendra pandit

Virendra Pandit New Delhi: Painting a gloomy picture for 2023, the World Bank has slashed its growth forecasts for most countries and regions, and warned that new adverse shocks could tip the global economy into a recession. Global GDP will probably increase only 1.7 percent this year, about half the pace forecast in June 2022, […]