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Roving Periscope: With a fresh $40bn aid to Ukraine, US pushes Russia into marshes

May 21, 2022 virendra pandit

Virendra Pandit New Delhi: Russia’s invasion of Ukraine since February 24 is bleeding Moscow whiter at a rate of USD 5 billion per day. In the last 86 days of the war, Russia is down with an overall loss of over USD 430 billion through exports, business, and spent ammunition, as the inconclusive conflict […]

Business

Russia-Ukraine War: India still fastest growing major economy, at 6.4% in 2022, says UN

May 19, 2022 virendra pandit

Virendra Pandit New Delhi: India, the fastest-growing major economy, may grow at 6.4 percent in 2022—a downward change of 0.3 percent since January—and 6 percent in 2023, in contrast with the global growth rate forecast at 3.1 percent in these two years, the United Nations has said. While the long-term impact of the Russia-Ukraine […]

Business

Sri Lanka: Ex-PM Mahinda flees Colombo; military gets emergency powers

May 10, 2022 virendra pandit

Virendra Pandit New Delhi: A day after he resigned and his ancestral house outside Colombo was set afire by a rampaging mob, and the killing of a lawmaker of his party, former Sri Lankan Prime Minister Mahinda Rajapaksa and his family allegedly ‘fled’ the national capital amid curfew, the media reported on Tuesday. The […]

Business

Roving Periscope: SL clamps 2nd emergency as Nepal, Pak economies falter

May 7, 2022 virendra pandit

Virendra Pandit New Delhi: South Asia seems to be in an unprecedented ferment after a broke Sri Lanka, facing its worst-ever economic crisis since March, re-imposed a nationwide emergency for a second time in five weeks on Friday while the economies of two more of India’s neighbors, Pakistan and Nepal, sank further. As protests […]

Business

Covid-19: 51 die in Shanghai, as mass testing in Beijing triggers panic buying

April 25, 2022 virendra pandit

Virendra Pandit New Delhi: With 51 new deaths reported in Shanghai on Monday and the officials ordering mass testing in Beijing, the “grim” pandemic situation in China sparked panic buying as waves of infections enforced lockdowns in new areas, the media reported on Monday. A sudden surge of infections in Beijing and about 15 […]

English

Sri Lanka: India sends 11K MT of rice ahead of the Sinhala and Tamil New Year

April 14, 2022 virendra pandit

New Delhi: Amid the ongoing economic crisis and countrywide unrest in Sri Lanka, India on Wednesday sent 11,000 metric tons of rice to the island neighbor, a day before the Sinhala and Tamil New Year. The Indian High Commission in Colombo twitted: “11,000 MT rice from #India reached #Colombo on board ship Chen Glory today […]

Business

Business: Indian supermarket chains to collaborate with Bhutanese companies

April 9, 2022 virendra pandit

New Delhi: The Confederation of Indian Industry (CII) and the Bhutan Chamber of Commerce and Industry (BCCI) are exploring institutional linkages between Bhutanese agribusinesses and Indian grocery chains. Bhutan’s agricultural and organic products may become available in India, a niche market, through supermarket chains like Reliance Retail and Spencer’s Retail stores, officials said. Bhutan’s exports […]

Business

Roving Periscope: How the four Rajapaksa brothers ruined Sri Lankan economy?

April 2, 2022 virendra pandit

Virendra Pandit New Delhi: It was not surprising when Sri Lankan President Gotabhaya Rajapaksa declared a nationwide public emergency late on Friday following violent protests over the island country’s worst economic crisis since its Independence in 1948. Sensing the emerging crisis in its southern neighborhood—nearly two dozen Sri Lankan Tamils had already arrived as […]

Business

Dark Age: Broke Sri Lanka has no diesel, shuts even street lights

March 31, 2022 virendra pandit

Virendra Pandit New Delhi: Sri Lanka has stopped the sale of diesel across the island nation and even announced to shut off street lights as it has no money left to pay for fuels. On Thursday, Sri Lanka, in a dire economic crisis due mainly to its crippled tourism sector, jobless expatriates stopping remittances, […]

Business

Roving Periscope: Russia-Ukraine war to redesign a New World Order, says IMF

March 16, 2022 virendra pandit

Virendra Pandit New Delhi: Fearing lower growth prospects worldwide, the International Monetary Fund (IMF) has predicted the Russia-Ukraine war could “fundamentally alter” the global economic and political order in the longer term. The IMF officials are already considering lowering the previous forecast of 4.4 percent global economic growth in 2022, according to the media […]