'You must have heard that Pakistan is going bankrupt or that a default or meltdown is taking place. It (default) has already taken place. We are living in a bankrupt country,' Defence minister Khawaja Asif said.
Noting that the economic crisis had underlined an urgent need for reform in the international financial structure, member of parliament Saifuddin Soz called for a greater role for developing nations in norm-setting and decision-making bodies like the International Monetary Fund.
'Had Haji Pir and/or Skardu been taken, the message would have gone out not just to General Asim Munir and his cohort in the Pakistan army but to the Pakistani people that every terrorist incident in India would lead to substantial loss of territory in PoK.'
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.
The emergency was imposed because of the mass scale protests planned for April 3 against the current economic hardships faced by the people.
Rising CAD, low growth & inflation may spark off an economic crisis in India.
The number of Indians over 15 either working or looking for work is lower as a percentage than in the United States, China, Bangladesh or Pakistan, points out Aakar Patel.
Australia limited-overs captain Aaron Finch hopes his team can bring some joy to cricket fans in Sri Lanka amid the island nation's worst financial crisis in over seven decades.
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.
Pakistani-American businessman Sajid Tarar said like India, Pakistan also needs strong leadership to handle political instability and economic issues.
Nobel laureate economist Abhijit Banerjee has said the current situation in Bangladesh is unlikely to trigger a fresh round of exodus of minority Hindus into India. He believes that migration is primarily driven by social networks and economic opportunities rather than persecution. Banerjee, known for his work in poverty alleviation, further emphasized that India's overt preference for Hindu migrants from Bangladesh in the past has been a significant factor in their migration, rather than attacks on the community.
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.
The Sri Lankan government on Sunday lifted the ban it had imposed on social media platforms such as WhatsApp, Twitter, Facebook and Instagram after declaring a nationwide public emergency and effecting a 36-hour curfew ahead of a planned anti-government rally over the worst economic crisis in the island nation.
"President of Sri Lanka Gotabaya Rajapaksa is still in the country, I made a mistake in the (BBC) interview," Speaker Abeywardena told ANI in a telephone call.
The interplay between domestic and foreign capital will shape India's equity markets.
Only 68 MPs voted in favour of the motion, it said, giving the 72-year-old President a comfortable victory.
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.
"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.
US President-elect Donald Trump has nominated Indian-American scientist Jay Bhattacharya to lead the National Institutes of Health (NIH), the country's top health research and funding institutions. Bhattacharya, a professor of Health Policy at Stanford University, is known for his research on the health and well-being of vulnerable populations. Trump also nominated Jim O'Neill as the deputy secretary of Health and Human Services to work alongside Robert F. Kennedy Jr.
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.
Dulat, however, pointedly said engagement with Pakistan has always been "influenced by domestic politics".
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.
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.
A combination of strong earnings and economic growth, and hopes of the Federal Reserve ending the rate-hike cycle have pushed gross buying of Indian equities by foreign portfolio investors (IPO) to a new high. In 2023, FPIs have been gross buyers of shares worth Rs 25.5 trillion, the highest ever in a calendar year. FPIs also sold shares worth Rs 23.9 trillion. On a net basis, they were net buyers to the tune of Rs 1.6 trillion, the highest since 2020.
An improvement in political relations, anchored in a restoration of peace and tranquillity at the border, could open up opportunities for expanded economic and commercial relations between them, suggests former foreign secretary Ambassador Shyam Saran.
BCCI monitoring situation in Sri Lanka: Sourav Ganguly
The cost of living crisis is the biggest short-term risk the world is facing, while the failure of climate mitigation and climate adaptation is the largest long-term concern, the World Economic Forum said on Wednesday. Releasing its annual Global Risks report in London ahead of its Davos summit next week, the WEF also said geopolitical rivalries and inward-looking stances will heighten economic constraints and further exacerbate both short- and long-term risks. The Global Risks 2023 report, drawing on views of over 1,200 experts, policy-makers and industry leaders from across the world, also urged countries to work together to avoid 'resource rivalries'.
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.
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.
Canada's next prime minister Mark Carney slammed United States President Donald Trump for 'unjustified tariffs', saying Americans should make no mistake as Canada will win the trade war just as it wins in hockey.
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.
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).
India should encourage the second coming of SAARC with climate change as an urgent agenda and keeping Indian security concerns in mind as the subtext, suggest Lieutenant General Ashok Joshi (retd) and Colonel Anil Athale (retd).
Finance Minister Nirmala Sitharaman on Saturday said the government will arrange identity cards and registration on the e-Shram portal to assist 1 crore gig workers. Presenting the Union Budget 2025-26, the finance minister also said a scheme for the socio-economic upliftment of urban workers will be implemented.
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.
'In a world which is full of categories, hatred and ideologies, there was this basic decency.'
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.
Pakistan may want to undertake a 'false flag' operation in J&K to divert attention from the situation in Balochistan and Khyber Pakhtunkhwa but infiltrating one SSG battalion into J&K and having two SSG battalions waiting to follow suit means war, which Pakistan cannot afford in its current economic crisis, notes Lieutenant General Prakash Katoch (retd).
India's gross domestic product growth has slumped to 6.5 per cent in 2011-12, the lowest in the last nine years.
