Sri Lankan Prime Minister Mahinda Rajapaksa resigned on Monday, hours after his supporters attacked anti-government protesters outside embattled President Gotabaya Rajapaksa's office, leaving at least 78 people injured and prompting authorities to impose a nationwide curfew and deploy army troops in the capital.
The WEF said its annual meeting is taking place at a time when multiple crises have deepened divisions and fragmented the geopolitical landscape.
My view is that they can probably muddle through for another two-three years by piling up the fiscal deficit or printing more money. I do not know when it will happen in 2012 or in 2018, but the next crisis will be worse than the one in 2008.
Sri Lankans queued up to apply for fresh passports outside the department of immigration and emigration office in Colombo.
By any economic theory or doctrine, this is no Budget that supports economic recovery, whether through supporting aggregate demand, or through expansionary stimulus, declares Rathin Roy.
'A less tense US-China relationship would make Beijing less likely to provoke India -- including on the border -- in retaliation for its close defence ties with the US.'
Glimpses of the protests in Colombo against the worsening economic crisis
'The economic crisis hit us from nowhere. No one saw it coming.'
'It is only natural that in such a national crisis, we should lend a helping hand to the less privileged members of our communities.'
The green signal would pave the way for additional funds to the IMF and reforms related to the country representation at the multilateral lending agency, among others. The IMF would get more funding to tackle the global crisis under an expanded borrowing arrangement. The US has committed to increase its credit line by up to $100 billion.
Sri Lankan police on Monday came under pressure to arrest the Rajapaksa family loyalists involved in attacks on peaceful protesters last week, even as it arrested over 200 people on various charges following the violence that left nine people dead.
'The real lifting of the economy will happen only if this momentum sustains in the coming months.'
European countries have the necessary resources and capabilities to deal with the current economic crisis that has engulfed them, the White House said.
The anti-government protesters in Sri Lanka on Sunday continued to occupy the residences of President Gotabaya Rajapaksa and Prime Minister Wickremesinghe, a day after they stormed into the premises and set on fire one of the buildings protesting over the nation's severe economic crisis even as the island nation is still in the dark about the embattled President's whereabouts.
Gandhi said Modi's top priority now is to get his Speaker in Parliament and is not bothered about NEET .
The sole economic superpower does not want to dethrone the dollar, or for that matter practise Third World economics.
On May 9, violence erupted in Sri Lanka after supporters of the 76-year-old former premier attacked peaceful anti-government protesters demanding his ouster over the country's worst economic crisis that led to acute shortages of staple food, fuel and power.
India on Sunday said it stands with the Sri Lankan people in their aspirations for prosperity and progress through democratic means, established institutions and constitutional framework.
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.
Mahinda Rajapaksa, along with his wife and family, fled his official residence -- Temple Trees -- and took shelter at the naval base in Trincomalee.
Raghuram Rajan will take over as RBI Governor on September 4 at a time when the country is facing a grave economic crisis.
A unique protest has been launched by protestors in Sri Lanka with underwear placed on the temporary metal barriers erected to block protesters at the main entrance to the island's parliament.
"We can no longer rely on the US consumer to sustain global growth. We need multiple poles of growth," Zoellick told reporters at a news conference in Beijing.
He alleged that the people of Madhya Pradesh were 'befooled' by the saffron party as there was no council of ministers or a health or home minister in place in the state amid the crisis due to the coronavirus outbreak.
Observing that the world is at a crossroads now as it faces the greatest economic crisis in 60 years, the IMF managing director Dominique Strauss-Kahn said at a news conference that the G-20 leaders have the opportunity to spur a recovery next year if they take the right action.
'The worry among many international actors is whether there will be stability to provide assistance to the government because the political developments in the last few months are a real concern.'
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.
'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.'
Why did the political system in the country react to these two decisions of the Modi government in a diametrically opposite manner? asks A K Bhattacharya.
'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 on Thursday abstained on a draft resolution in the UN Human Rights Council in Geneva on promoting reconciliation, accountability and human rights in Sri Lanka which was adopted.
The Indian and Chinese troops are locked in an over-three-year confrontation in certain friction points in eastern Ladakh even as the two sides completed disengagement from several areas following extensive diplomatic and military talks.
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.
It's a busy season for Indian producers of orthodox tea. As Sri Lanka, the world's largest supplier of orthodox tea, struggles with its worst economic crisis, a window of opportunity has opened up in neighbouring India. Calls to Indian planters and exporters from foreign buyers of Sri Lankan orthodox tea are pouring in and the buoyant sentiment is reflecting in prices at auction centres. Orthodox tea refers to loose-leaf tea which is produced using traditional or orthodox methods such as plucking, withering, rolling, oxidation and drying.
A statement issued by the presidential media division on Friday said an extremist group was behind the unrest near President Rajapaksa's residence in Mirihana.
'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.'
The Indian economy has emerged almost unscathed from the global economic crisis that has ravaged many nations, said Union Minister of Surface Transport Kamal Nath on Tuesday.
The writing has been on the wall for some time. Exodus of senior leadership and growth behind its peers are reasons that have prompted Thierry Delaporte, the chief executive officer (CEO) of Wipro to resign, analysts said. Delaporte, Wipro's seventh CEO, also resigned without completing his five-year term, like his predecessor Abidali Neemuchwala decided to end his tenure prematurely in 2020. Phil Fersht, HFS Research CEO and chief analyst believes the change in leadership was at least six months overdue.
Despite mounting pressure, Gotabaya, and Prime Minister Mahinda have refused to quit office.
'Pakistan has robust incentive to turn heat on LoC.'
