BCCI monitoring situation in Sri Lanka: Sourav Ganguly
Rising CAD, low growth & inflation may spark off an economic crisis in India.
President Ranil Wickremesinghe on Wednesday thanked India and Prime Minister Narendra Modi for giving Sri Lanka 'a breath of life' by providing timely economic assistance to his country as it faced the worst economic crisis in decades.
A senior Indian government official posted in Sri Lanka sustained grievous injuries in an unprovoked assault, the Indian high commission in Colombo said on Tuesday as it urged its nationals to remain aware of the latest developments in the island nation and plan their movements and activities accordingly.
Eurozone crisis has hit the India-France bilateral trade and achieving the USD 12 billion target (of the trade) would be difficult this year, French Ambassador to India, Francois Richier, said.
The Indian economy, by and large, will withstand the current crisis like it withstood the Asian and Western world credit crises.
The crisis is the best thing to happen to the Chinese government in a long, long time.
A protest has begun in front of the Trincomalee Naval Base after reports Mahinda Rajapaksa and some of his family members are there after leaving Temple Trees, the official residence of prime minister.
MEA xpokesperson Arindam Bagchi said India continues to closely follow the developments in Sri Lanka and that it is aware of the many challenges that the country and its people have been facing.
Prime Minister Manmohan Singh on Saturday asked European countries to take firm steps to fix the continent's financial mess, which was hitting India's economic growth and dampening global markets.
A delegation from former president Maithripala Sirisena's Sri Lanka Freedom Party met him in the morning to press for their demand on the formation of the interim government.
"I feel governments still see bull markets as good, and bear markets as bad but excessive bull markets create bear markets, and only timely intervention can help overcome the crisis," says R Subramanian, managing director, Subhiksha, one of the largest retail chains in India.
The Director of the Peradeniya Hospital in the central district of Kandy on Monday announced the temporary suspension of all routine surgeries due to the shortage of medicine.
A year ago MG Road, the bustling main thoroughfare of Mumbai's historic business district of Fort, was full of shoppers haggling with street vendors over everything from replica Prada sunglasses to underwear.
At least three countries Brazil, India and China fared well during the current economic crisis that has engulfed the world in the past two years, mainly because of inherent strengthen of their economies, a Congressional oversight panel has said.
The High Commission said it was striving to return to its normal functioning soon.
A nationwide strike, April 28, 2022, demanded the resignation of Sri Lanka President Gotabaya Rajapaksa and his cabinet, amid the country's economic crisis.
Dr Manmohan Singh, the architect of India's economic reforms, had to literally face a trial-by-fire to ensure widespread acceptance of his path-breaking Union Budget of 1991 that saw the nation rise from its darkest financial crises.
The government has no plan to print currency notes to tide over the current economic crisis triggered by the outbreak of COVID-19 pandemic, Finance Minister Nirmala Sitharaman informed Parliament on Monday. To a question on whether there is any plan to print currency to tide over the crisis, the finance minister said, "No Sir". Many economists and experts have suggested to the government to print more currency notes to tide over the difficult economic situation with a view to support the economy ravaged by the spread of COVID-19, and protect jobs.
The five-time prime minister was re-appointed to the job on May 12 following the political circus precipitated by the unprecedented economic crisis in the island's history.
Foreign minister Ali Sabry told the cabinet that the Chinese vessel had only asked for a refuelling visit.
Pakistan's deputy Prime Minister and Foreign Minister Ishaq Dar, who is in China on a four-day visit, and Chinese Foreign Minister Wang Yi co-chaired the fifth round of the foreign minister-level China-Pakistan Strategic Dialogue.
Arguing in favour of public transportation system instead of depending on cars for commutation, Obama at a rally in Buffalo said mass transit system would be good for the environment.
The minister further said the Sri Lankan government is holding continuous interactions with the Tamil diaspora and people and leaders living in different parts of the world.
Indian engineering and management institutes, which have set up bases in Dubai, are facing a 13-60 per cent dip in admissions due to the economic crisis in the city, which is one of the seven emirates of the United Arab Emirates (UAE).
The protesters left the main anti-government protest camp at Galle Face promenade where they had been staging sit-ins since April 9, branding it as the 'Gota go home village' (Rajapaksa go home).
'Of the 20 trading days of January till January 28, FIIs have been selling for 19 trading days'. 'When did FIIs withdraw money with this kind of intensity?' 'It never happened. It's the first. It did not happen even during the 2008-2009 financial crisis when Lehman went under.' 'Even then you did not have like a 19-day selling spree from the FIIs.'
Gold, a safe-haven bet, is likely to continue its record-smashing journey in the New Year, rising to Rs 85,000 per 10 grams and even Rs 90,000 level in domestic markets if geopolitical tensions and global economic uncertainties continue.
Pakistan's newly-elected President Asif Ali Zardari on Tuesday announced that he would not draw any salary during his tenure as part of his bid to help the cash-strapped country face the challenging economic hardship.
President Gotabaya Rajapaksa, who is currently facing public demand for his resignation over his mishandling of the economic crisis, is the man who ruthlessly ended Sri Lanka's nearly 30-year civil war with the LTTE with the death of its supremo Velupillai Prabhakaran in 2009.
'I had to persuade him. I think he was a sceptic to begin with, but later on he was convinced that what we were doing was the right thing to do, that there was no other way out.'
India's gross domestic product growth has slumped to 6.5 per cent in 2011-12, the lowest in the last nine years.
Manmohan Singh, the former Prime Minister of India, faced financial difficulties during his time studying at Cambridge University in the mid-1950s, according to his daughter Daman Singh's book "Strictly Personal: Manmohan and Gursharan". The book details how Singh, who was on a scholarship, often had to skip meals or live on a sixpence bar of Cadbury's chocolate to make ends meet. The book also offers insights into Singh's personal life, including his fondness for singing, his quirky sense of humor, and his habit of giving nicknames to people. Daman Singh describes her father as a man who was careful with money, had a good sense of humor, and was a loving husband and father.
The global economic crisis could lead to a new "green industrial revolution," but developing countries will need strong support to ensure they do not miss the opportunity, the United Nations Industrial Development Organistion (UNIDO) said on Friday.
President Barack Obama warned that if the American Recovery and Reinvestment Act is not signed into law quickly, the economic crisis will be turn into a catastrophe. "Millions more Americans will lose their jobs. Home will be lost. Families will go without health care. Our crippling dependence on foreign oil will continue. That is the price of inaction," he said.
The European economic crisis could be an opportunity for Indian corporate houses. Leading investment bankers say assets, globally, are available at attractive valuations and the rise in domestic stock prices has added more strength to balance sheets of Indian companies.
China's embassy in Colombo has sought an urgent meeting with senior Sri Lankan authorities after Colombo sought a deferment of the planned docking of a high-tech Chinese research vessel at the strategic Hambantota port over which India raised concerns, sources said.
The government's poor handling of the economic crisis where people currently endure long hours of power outages and scarcity of essentials has angered the public which planned country-wide protests on Sunday.
The U.S. is mortgaging its future by outsourcing technological inventions in exchange for short-term cash.
This was Obama's second prime time live press conference from White House. The press conference was dominated by economic issues and the crisis the country is facing right now. With respect to the American people, Obama said he thinks they are sacrificing left and right.
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