RIYADH: Behind much of the Middle East’s chaos – the wars in Syria and Yemen, the political upheaval in Iraq and Lebanon and Bahrain – there is another conflict. Continue reading “How the Iranian-Saudi proxy struggle tore apart the Middle East”
SAN FRANCISCO: Mark Zuckerberg, Facebook’s chief executive, has cultivated relationships with China’s leaders, including President Xi Jinping. He has paid multiple visits to the country to meet its top internet executives. He has made an effort to learn Mandarin. Continue reading “Facebook said to create censorship tool to get back into China”
Union Finance Minister Arun Jaitley has directed commercial bank chiefs to focus their attention on rural India’s cash crunch over the next 40 days, with a war chest of Rs. 35,000 crore for providing credit to farmers by December.
The rupee slipped from its initial recovery, dropping 7 paise to Rs 68.23 in late morning deals following bouts of dollar demand from importers despite higher domestic equities.
About 25 per cent of the country’s automated teller machines (ATMs), or 47,000, have been recalibrated since the exercise began last Wednesday, to enable them to start dispensing the new Rs.500 and Rs.2000 denomination bank notes, banking industry sources said.
K.C. Chakrabarty, who was deputy governor of Reserve Bank of India (RBI) between June 2009 and March 2014, said that there was no economic rationale behind the ongoing demonetisation drive and that such a proposal had been floated in the past too. Excerpts from a conversation: Continue reading “UPA government also proposed it, we said no”
The Bofors jinx has finally been broken after 30 years. After the infamous Bofors scandal of the mid-1980s torpedoed all its artillery modernisation plans, the Army will begin inducting its first modern 155mm howitzers from mid-2017 onwards. Continue reading “Bofors ghost finally buried, 155mm howitzers coming”