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Economy: Services PMI jumps to 62.3 in July, the highest in over 13 years

August 3, 2023 Vinayak Barot

Virendra Pandit New Delhi: India’s services activity shot up sharply from a Purchasing Managers’ Index (PMI) of 58.5 in June to 62.3 in July, a report from the S&P Global Market Intelligence said on Thursday. At 62.3, the July services PMI is the highest point in over 13 years, vis-à-vis the last time’s peak […]

Business

Roving Periscope: The US re-engages Taliban, may push them against China

August 1, 2023 Vinayak Barot

Virendra Pandit New Delhi: Few could have missed the real reason why the US forces, armed to the teeth, suddenly fled from Afghanistan in 2021, in the dead of night, and without even informing then President Hamid Karzai, their own protégé. No superpower worth its firepower would stew in its own juice. Of course, […]

Business

Race for rice: India’s ban on exporting non-basmati triggers panic buying in the US

July 27, 2023 Vinayak Barot

Virendra Pandit New Delhi: Close on the heels of Russia exiting the Black Sea Agreements and bombing Ukraine’s last granaries, thus triggering a possible food scarcity in many countries, India’s ban on white rice exports has also panicked many people worldwide. After the International Monetary Fund (IMF) expressed concern at India’s June 20 ban […]

Business

Pakistan: Now, even its Army chief wants to “throw away the begging bowl!”

July 25, 2023 Vinayak Barot

Virendra Pandit New Delhi: Two things that ‘distinguish’ Pakistan from other countries is that it never ceases to surprise others and that it has a vicarious sense of humor. Even the worst socio-political and economic crises have not changed Pakistan a bit. Pakistan’s Prime Minister Mohammad Shehbaz Sharif was the first to admit in […]

Business

Quick commerce: ‘Indians most impatient online shoppers worldwide; want delivery in 2 hours’

July 25, 2023 Vinayak Barot

Virendra Pandit New Delhi: Many Indians, always in a hurry to catch up with the rest of the world and adapt to novelty, are the most impatient e-commerce shoppers, who want their stuff to be delivered within just two hours, a global survey said. Indians are the world’s most impatient online shoppers, with nearly […]

Business

INR: Sri Lanka may allow the usage of Indian currency for local transactions

July 22, 2023 Vinayak Barot

Virendra Pandit New Delhi: A week after Sri Lankan President Ranil Wickremesinghe hinted at it, his Finance Minister Ali Sabry reiterated on Saturday that the island nation is considering the possibility of allowing the usage of the Indian currency for local transactions, just like the dollar, euro, and yen to facilitate Indian tourists and […]

Business

Roving Periscope: Plunging world in food crisis, Russia exits UN-brokered Ukraine grain deal

July 17, 2023 Vinayak Barot

Virendra Pandit New Delhi: Pushing many countries into a possible food crisis, Russia on Monday exited the United Nations-brokered Black Sea Agreement that had opened up a passage from the war-ravaged Ukraine for the export of its food grain in July 2022 for a year. Before Russia’s invasion of Ukraine on February 24, 2022, […]

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Roving Periscope: With a fresh IMF breather, cash-strapped Pakistan is relieved for now

July 13, 2023 Vinayak Barot

Virendra Pandit New Delhi: After months of severe cash crunch, supply crisis, and political uncertainties, Pakistan, where general elections to the National Assembly are due in October 2023, got a breather from the International Monetary Fund (IMF) which transferred a USD 1.2 billion bailout, the media reported on Thursday. A day after the global […]

Business

Roving Periscope: China opposes, Ukraine waits for NATO expansion

July 12, 2023 Vinayak Barot

Virendra Pandit New Delhi: As China protested the expansion of the North Atlantic Treaty Organization (NATO) into Asia and the Pacific region, the Western security alliance, mainly focused on Europe, has said it would invite war-torn Ukraine to join it “when conditions are met,” showing its cautious approach so as not to provoke […]

Business

Roving Periscope: “You saved us… prevented bloodbath,” Sri Lanka tells India

July 8, 2023 virendra pandit

Virendra Pandit New Delhi: Sri Lankan Parliament Speaker Mahinda Yapa Abeywardena on Friday expressed deep gratitude to India, calling it a “trustworthy friend” which saved the island nation and prevented a “bloodbath” during its unprecedented economic crisis in 2022. He said that not a single nation extended that kind of assistance to Colombo as New […]