Ajay Banga was on Wednesday appointed the next president of the World Bank, becoming the first-ever Indian-American to head the global financial institution which said it looks forward to working with him at a time when it's tackling the toughest development challenges facing developing countries. "The executive directors of the World Bank today selected Ajay Banga as president of the World Bank for a five-year term beginning June 2, 2023," the bank said in a press statement. In February, President Joe Biden announced that the US would be nominating Banga, 63, to lead the World Bank because he is "well equipped" to lead the global institution at "this critical moment in history."
At the World Bank Banga will be replacing David Malpass, a former Trump treasury official, reports axios.com. Malpass had already announced that he will resign by July, months ahead of his term expired. "Ajay is uniquely equipped to lead the World Bank at this critical moment in history," President Biden said in a statement. Banga, 63, currently serves as vice chairman at General Atlantic.
'The Modi visit will prove to be the watershed where India and the United States commenced technology trade and transfer.'
Investors with stalled projects and mounting bad debt will refinance their loans.
'There are three pillars of concern: The expansion of Hindu majoritarianism, the concentration of executive power and decay of independent institutions, and curbs on free expression and dissent.'
In this scenario, the Indian information technology industry and government have two distinct items on the agenda before them.
Life inside the prime minister's official residence is highly regulated, but it comes with its perks, says Veenu Sandhu
India's most powerful prime minister in five decades gets publicly admonished -- if gently -- by the US vice-president. The question is, would this make him reflect on how and why, or which ones of his government and party's missteps exposed his flank like this? asks Shekhar Gupta.
'In Hindi, Mr Modi is unequalled as an exceptionally accomplished orator.'
'You can see the essential contours of his new Pakistan strategy. Rather than keep engaging with or humouring them, he'd rather work on taking their four biggest supporters -- the US, China, the UAE and later Saudi Arabia -- away from them.' 'In his calculation,' says Shekhar Gupta, 'with the total support of all four of these, Pakistan will be forced to moderate its policies.'
'With Trump, the relationship was very transactional, whereas with President Biden it is very structured.'
I come before you humbled by the responsibility that the American people have placed upon me, mindful of the enormous challenges of our moment in history, and determined to act boldly and collectively on behalf of justice and prosperity at home and abroad.
A special episode of the Prime Minister's radio broadcast Mann ki Baat featuring US President Barack Obama and Prime Minister Narendra Modi was aired on Tuesday night. The 35-minute special broadcast of 'Mann Ki Baat', which marked the rapport between Modi and Obama, touched on issues ranging from public health and personal inspirations of the two leaders, both of whom have come up from simple beginnings to assume to top positions of the respective countries. What follows is a transcript of the Mann ki Baat episode.
If Mr Rajan's citizenship is considered relevant for heading an organisation that issues sovereign currency, should the provenance of a participant in a critical function of a sovereign democracy not count as well?
The Washington Post reported that Trump called the conversation with Turnbull "the worst by far" of his calls with world leaders that day, and cut it short after 25 minutes.
This is why she is the First Lady of Fashion! Michelle Obama dazzled one and all in a floor-length rose gold Versace chainmail gown.
Politicians are supposed to get into the business to change the world around them. But it seems Gandhi got into the business to help keep a party running, says Mihir S Sharma
The letter, to maintain the current policy of denying Narendra Modi a visa to the United States, was released just as the BJP president arrived in Washington DC for a round of meetings with US lawmakers. Aziz Haniffa reports
Brazil soccer great Pele died on Thursday, aged 82, after a long battle with cancer.
'India is going to maintain its ties to China, India is going to develop a strong relationship with the United States. It means that India is going to have the flexibility to pick and choose its friends.' 'That's traditional Indian foreign policy, and it's smart.' Former US ambassador to India Frank Wisner, one of America's sharpest minds on South Asia, tells Aziz Haniffa/Rediff.com what Washington can expect from Narendra Modi's visit.
Speculation is rising that Vice President Joe Biden is close to a decision on entering the 2016 US presidential race even as the White House has been silent and President Barack Obama evaded queries on the issue.
If doing business in India is a problem for even the richest, most educated scion of a business house, it is unlikely to be a breeze for the average rural Indian woman.
'This is the first time there has been an attempt to use market forces to counter disinformation on social media,' notes Devangshu Datta.
Biden's lead has shrunk over the last few days, as Trump and his family have virtually carpet bombed the key battle ground states, including as many as 15 rallies by the president.
'Mr Trump is too capricious to be trusted,' says Sunanda K Datta-Ray.
George W. Bush on Friday handed the fate of US carmakers to president-elect Barack Obama as he announced plans to lend General Motors and Chrysler $17.4bn to survive the next three months.
President Barack Obama has condemned the murder of a Japanese hostage by the IS
Insisting that Edward Snowden is facing charges on espionage, the Obama administration on Friday asked Russia to return the fugitive leaker to the US and not to give him a "propaganda platform".
The United States has assured India that the tragic shooting incident at a furdwara in Wisconsin will be fully investigated, Indian Ambassador to the US Nirupama Rao said.
There's still little indication of forward movement in Indo-US defence relations.
With a decelerating economy that weakens India's hands on geopolitical issues, it will be interesting to know which way this trip will go.
'Did the Nobel committee, reviled for awarding Mr Dylan, play a little inside joke this time around, by awarding another lyricist who was once an aspiring musician?' asks Uttaran Das Gupta.
Though the incoming First Lady of the US is a former model who has retained all the glamour of the ramp, there is a curious radio silence on the subject of who's offering their sartorial services for her time at the White House, notes Kanika Datta.
The question is whether Prime Minister Modi can convince the world's investors that India is the ultimate investment destination of 2018, says Kanika Datta.
Text of PM Narendra Modi's press statement after delegation level talks with US President Obama at the Hyderabad House in Delhi.
'I made it known through diplomatic channels that I was unhappy.' 'So, he called me and tried to explain, but I said this is something that doesn't happen between friends.'
Describing it as a "spectacle in Houston", the Wall Street Journal said Trump is hoping to pick up a larger share of this growing voters bloc in 2020 than he did in 2016. Trump understands the benefit of associating with Indian Americans, whose contributions are crucial to the prosperity of both nations in the 21st century, it added.
'If there were no Ahmedabad programme -- no flashy town hall event in a huge cricket stadium with thousands cheering him on -- then Trump may well have decided not to go to India.'
As Modi prepares for his first meeting with United States President Donald Trump, we can't help but wonder will the PM go in for a hug or will 'The Donald' opt for one his 'famous' handshakes?
Why did Kamal Haasan name the leaders he did?
