Sri Lanka is facing its worst economic crisis since gaining independence from the UK in 1948.
The development came as the local fishermen in the North have been protesting for over a week to stop the Indians from entering the Sri Lankan waters for fishing.
'The question often being asked is whether the demand for petrol and diesel is price inelastic?' asks Arun Balakrishnan, former chairman and managing director, Hindustan Petroleum.
Sri Lanka Prime Minister Mahinda Rajapaksa's residence in the city of Kurunegala in the north-western province was set on fire on Monday, hours after the leader tendered his resignation.
'Netanyahu lured Trump into a trap by enticing him with a seductive scenario of massive lucrative business in Gaza's reconstruction.' 'Trump's imagination is running riot, completely disconnected from ground realities,' asserts Ambassador M K Bhadrakumar.
India has been in touch with all parties concerned as part of overall global efforts to bring down the tensions.
Most of the Asia-Pacific economies would be cushioned by healthy foreign exchange reserves in the last quarter of the current calendar year, global ratings agency, Standard & Poor, said in a report.
His whereabouts was unknown as protesters have now occupied both his office and official residence.
Since jobs will remain scarce for the foreseeable future, an unemployment allowance should be the next big social-security initiative, suggests T N Ninan.
Eyewitnesses said that a section of the protesters had remained for the all-night vigil.
'We are going to need more technical people in government.' 'You can't expect a generalist to understand the complicated world of financial engineering.' 'I regret to say that most of our politicians have no competence to deal with these things. Nor is there a willingness to learn.'
Startup founders need to sit up and think about how not to take stardom for granted and how not to disappoint their fans who have stood in long queues for those precious selfies with popular entrepreneurs, notes Nivedita Mookerji.
India's merchandise exports rose by 9.1 per cent to $38.13 billion in May even as the trade deficit widened to a seven-month high of $23.78 billion during the month, according to government data. Healthy growth in sectors, such as engineering, electronics, pharmaceuticals, textiles and plastics helped register growth in exports despite global economic uncertainties.
The ideal time to invest in sector funds, is during a downturn so that investors can capitalise on a turnaround in 1.5 to 2 years.
Taxing the rich will fetch nothing; only votes, argues Debashis Basu.
Pakistan's new Prime Minister Shehbaz Sharif and Russian President Vladimir Putin have quietly exchanged letters to strengthen bilateral relations, a media report said on Sunday, amidst allegations by Imran Khan that his maiden visit to Moscow, much against Washington's wishes, led to his ouster.
US Under Secretary Victoria Nuland, who met Sri Lankan Foreign Minister Ali Sabry in New York on the sidelines of the UN General Assembly session, raised concerns about the upcoming visit of the Chinese research vessel 'SHI YAN 6'
Neither the foreign exchange, nor the gold, and certainly not the revaluation reserve should be available for spending by anyone. he revaluation account is simply not money. It is simply an accounting entry, says Rashmin C Sanghvi.
Sri Lanka is currently processing a request by China to allow a research ship to dock in the country, a foreign ministry spokesperson said on Wednesday, a year after a visit by a Chinese spy vessel to the Island nation raised security concerns in India.
The rupee appreciated by 0.27 per cent in June against the dollar.
A statement issued by the Prime Minister's Office on Monday said that Mahinda Rajapaksa intends to propose a new Constitutional Amendment to the cabinet in order to fulfil the people's aspirations.
A Chinese research ship on Wednesday docked at Sri Lanka's Colombo port, officials in Colombo said, amid security concerns raised by the US over its visit.
RBI is expecting the rupee to stay close to Rs 75 to a dollar, as COVID-19 forces foreign funds to withdraw from emerging markets.
Thousands of irate anti-government protesters in Sri Lanka on Saturday stormed into embattled President Rajapaksa's official residence in central Colombo's high-security Fort area after breaking the barricades, as they demanded his resignation over the island nation's worst economic crisis in recent memory.
Sri Lanka Cricket on Wednesday informed the Asian Cricket Council that they will not be in a position to host the upcoming edition of the Asia Cup T20 because of the economic and political crisis in the island nation.
The 54-page document tabled in Parliament detailed how the Modi-government pull the economy from being counted among the most fragile-five in the world to being the fasted growing and the most attractive investment destination.
Sri Lankan President Gotabaya Rajapaksa, who is under pressure to resign, was dealt a further blow on Wednesday when three more parliamentarians withdrew their support to the government.
A Chinese Navy warship capable of surveillance has docked at the Colombo port, nearly a year after another spy vessel berthed at a strategic port in the country and raised concerns in India.
His five-year rule saw the Babri Masjid demolition, the rise of the saffron forces and also the country being placed firmly on a new economic path, away from the Nehru years of public sector socialism.
'It took us 75 years to reach a per capita income of $2,730.' 'According to IMF projections, it will take only five years to add another $2,000.'
Angry protests in Colombo as Sri Lanka grapples with its worst ever economic crisis.
In recent months people have been blocking roads across the country in a desperate bid to force the government to address the issue of acute gas shortages.
In the context of market integrity, the IRAI and RBI should go over the minutes of the LIC and SBI board meetings when the decisions to invest in Adani equity or debt were taken, notes Jaimini Bhagwati, former World Bank treasury professional.
'Which fund manager in the world will put money into a company that hasn't filed its annual account?'
External Affairs Minister S Jaishankar held wide-ranging talks with his visiting Iranian counterpart Hossein Amir-Abdollahian on Wednesday against the backdrop of widespread anger in West Asia over controversial remarks on Prophet Mohammed made by two former Bharatiya Janata Party spokespersons.
According to the Ministry of Energy, the system of frequency of the national grid went down at 7:34 am local time, resulting in the breakdown.
The Adani group will have understood the fragility of investor trust in the group. The group needs to improve transparency including in areas like share-ownership (which they have long and mistakenly believed can be side-stepped) and related-party transactions, among others, Amit Tandon and Hetal Dalal point out.
India needs foreign exchange buffer reserves to insulate itself from exchange rate volatility as we have "no friends" for swap lines and Japan was the only country that helped during the taper tantrum in 2013, former RBI Governor Raghuram Rajan said on Tuesday. Participating in a virtual event organised by economic think tank NCAER, Rajan said during the taper tantrum in 2013, India asked for swap lines, and only country who helped was Japan. "We need this (foreign exchange) reserve buffer to insulate ourselves because we have no friends.
The Government also defended the President's decision to enforce a state of emergency, that had given him sweeping authority to act in the interests of public security and preserving public order, including suspending any laws, authorising detentions and seizing property, saying it was declared after attempts were made to attack the President's Office and other public property.
'Are we to believe that coordinated moves by the Canadian and US authorities are no longer taking place?', asks Ambassador M K Bhadrakumar.
