Political

Business

Ukraine: China tries to make a dependent Russia a ‘junior’ partner!

March 21, 2023 virendra pandit

Virendra Pandit New Delhi: In the fast-changing geopolitical oneupmanship, this is the likely outcome of Chinese President Xi Jinping’s current three-day visit to Russia: with President Vladimir Putin’s prolonging misadventure of Ukraine making him all the more dependent on Beijing, the Dragon may have reduced the Polar Bear into a ‘junior’ partner. In the […]

Business

Roving Periscope: American paper WSJ ‘predicts’ BJP’s repeat victory in 2024

March 21, 2023 virendra pandit

Virendra Pandit New Delhi: Leading US newspaper, The Wall Street Journal, has predicted that the Bharatiya Janata Party (BJP) is, after its successive victories in 2014, and 2019, headed for a repeat victory in 2024 also in India. From the standpoint of American national interests, India’s chief ruling party is the world’s most important […]

Business

Sri Lanka: IMF approves $3 bn bailout to support India’s cash-strapped neighbor

March 21, 2023 virendra pandit

Virendra Pandit New Delhi: After a year of unprecedented political and economic turmoil which resulted in the overthrow of the Rajapakse dynasty’s stranglehold on bankrupt Sri Lanka, the International Monetary Fund (IMF) approved a nearly USD 3 billion bailout package on Monday for the South Asian island nation. Sri Lanka is burdened with an […]

Business

Roving Periscope: “Modi, The Immortal,” exclaim the Chinese netizens!

March 20, 2023 virendra pandit

Virendra Pandit New Delhi: While India and China are engaged in a bitter border row since mid-2020, Chinese netizens seem fascinated with Prime Minister Narendra Modi whom they have also given an unusual nickname: “Modi Laoxian.” In the Chinese language, Laoxian means “an elderly immortal with some amazing abilities.” According to a March 9 report by […]

Business

Sinking banks: Now, UBS takes over rival Credit Suisse for $3.25 bn; 9k jobs to go

March 20, 2023 virendra pandit

Virendra Pandit New Delhi: With the Swiss government assuring to provide USD 9 billion to help UBS meet the possible losses while taking over nearest rival Credit Suisse, and the Swiss National Bank providing USD 100 billion of liquidity to facilitate the deal, UBS Group on Sunday agreed to take it over for USD […]

Business

Covid-19: Claims of a spike in poverty in India patently false, says study

March 20, 2023 virendra pandit

Virendra Pandit New Delhi: Claims of a spike in poverty and inequality in India during the Covid-19 pandemic period—2020-21—are patently false as they are based on incomparable surveys. In fact, inequality fell across the country during this period. These are the findings of a paper co-authored by eminent economist Arvind Panagariya, a former Vice-Chairman […]

Business

ICC’s arrest warrant: Xi to visit Moscow, but Putin cannot ‘set foot’ in 123 countries!

March 18, 2023 virendra pandit

Virendra Pandit New Delhi: With the International Criminal Court (ICC) issuing an arrest warrant for Russian President Vladimir Putin for his alleged war crimes in Ukraine, he cannot ‘set foot’ in 123 countries, members of the ICC, the media reported on Saturday. While US President Joe Biden welcomed it, Russia has dubbed the ICC […]

Business

Roving Periscope: Worried, 11 US banks to pool $30 bn to rescue the fourth bank from sinking

March 17, 2023 virendra pandit

Virendra Pandit New Delhi: After the collapse of three mid-sized US-based banks in the last week—Silicon Valley Bank (SVB), Signature Bank, and Silvergate Bank—global banking circles are worried over the possible spread of the 2008-like contagion worldwide, forcing 11 leading American banks to form a consortium to shield yet another bank from liquidation. Union […]

Business

Rs. 99.26: This is what HSBC is paying to acquire broke SVB’s UK branch!

March 13, 2023 virendra pandit

Virendra Pandit New Delhi: In a technology reprieve, HSBC Holdings Plc is buying the bankrupt Silicon Valley Bank’s UK arm for a princely sum of £1 (Rs. 99.26), the media reported on Monday. The London-listed US lender’s “ring-fenced subsidiary, HSBC UK Bank plc, is acquiring Silicon Valley Bank UK Limited (SVB UK) for £1,” […]

Business

SVB fallout: Sensex tanks 900 points and Nifty tests 17k as US bank’s collapse panics investors

March 13, 2023 virendra pandit

Virendra Pandit New Delhi: Although the Indian startup ecosystem is relatively free from the contagion’s likely spread across the US after last week’s collapse of America’s 16th largest bank, Silicon Valley Bank, the fears of a banking sector crisis led to Sensex losing nearly 900 points and Nifty testing 17,000 on Monday. Senses closed […]