ECONOMY

ECONOMY

India’s trade deficit with China up two-fold in adecade to 2016-17; can...


India’s trade deficit with China increased more than two-fold (219%) from $16 billion in 2007-08 to $51 billion in 2016-17, according to commerce ministry data. India’s imports ($61 billion) from China were six times its exports ($10 billion)... More

Pakistan adds to cryptocurrency curbs


India’s central bank barred banks on Friday from having any links to virtual currency dealers, slashing the prices of bitcoin and other cryptocurrencies on local exchanges. Pakistan’s central bank said in a separate statement late on Friday that... More

Pakistan seeks bailout from China and Saudis, rather than the IMF


Pakistan plans to seek financial assistance from China and Saudi Arabia to get out of the grave financial crisis it faces to bridge the country’s external account deficit ahead of budgetary proposals for the 2018-19 fiscal year.A... More

Sri Lanka determined to agree free trade deal with China and India


Sri Lanka will “redouble” efforts to strike a free trade deal with China and conclude and expanded trade pact with India as part of the island nation’s strategy of becoming an Indian Ocean hub for investors and... More

Seven BD banks struggle to finance themselves with Tk 94bn capital deficits


Seven banks of Bangladesh are currently operating with capital deficits totalling over Tk 94 billion until September last year - a crisis that threatens to metastasise into a large-scale banking meltdown. The total amount of capital deficit in... More

Budget 2018: Why record harvests, Govt spending not enough for Indian farmers


 Indian farms produced record harvests in 2017, and the government’s agricultural budget rose 111% over four years to 2017-18. Yet, prices crashed, 8,007 farmers committed suicide in 2015, unpaid agricultural loans rose 20% between 2016 and 2017,... More

GDP growth to slump to 4-year-low is bad news for Modi government


India's gross domestic product (GDP) is expected to grow at 6.5 per cent this fiscal (2017-18) from 7.1 per cent last fiscal - a four-year low - according to the first advance estimates of the Central Statistics... More

An ominous new year for India


You’d think the Indian economy had returned to rosy health. It seems to have recovered from two enormous disruptions -- Prime Minister Narendra Modi’s decision just over a year ago to withdraw 86 percent of the currency... More

Indian IT companies establishing firm presence in China amid receding US demand


In a first, India's IT industry has joined hands with Chinese authorities to establish the business equivalent of a marriage portal. The matchmaking platform will help Indian companies to obtain contracts at a time when they are... More

China tells India to calm down after Maldives trade deal


India will “do nothing but upset itself” if it tries to prevent closer trade ties between China and the Maldives, Beijing state media has said, days after the tiny island nation approved a deal with the world’s... More

Saudi delegation to visit Pakistan to explore investment opportunities


A high-level Saudi Arabian delegation will visit Pakistan by the end of this month to explore investment opportunities in the China-Pakistan Economic Corridor (CPEC), Pakistani media reported. The state-run Associated Press of Pakistan quoted Nawaf Saeed Al Malikiy,... More

RBI says no to Islamic Banking in India


In a major move, the Reserve Bank of India (RBI) has decided not to pursue a proposal for introduction of Islamic banking in the country. Replying to an RTI query, the central bank said the decision was... More

Banking on a New Stimulus Plan in India


India’s central government is taking a bigger role in managing the country’s financial system through a new stimulus plan that will inject cash into banks and infrastructure. Because of a growing number of nonperforming loans, over the past... More

India, Pakistan, Bangladesh to be 2nd, 15th & 23rd largest economies by...


IMF predicts that world economy will be centered on Asia by the year 2050, shifting from North America, Western Europe and Japan. And three large countries of South Asia- India, Pakistan and Bangladesh - are primed to... More

COLUMN

No more PSLs abroad

“The pulsating cheering crowd in the National Stadium Karachi for the PSL Final, and subsequently for the three international T20s, underscored the return of peace to a city (and country) torn by internal strife. Bereft of any sports spectacle and living in cold fear for life and limb of their (and their families) because of open-ended threats from terrorists, political, religious and the criminal kind, the people of Karachi... More

Only non-interference will mitigate anti-India feelings in Nepal

New Delhi has been receiving shock after shock in the past few days from Nepal, a country which is the closest to India in religious and culture terms, and which Indian Prime Minister Narendra Modi has visited four times since he came to power four years ago. The simplistic theory of the votaries of Hindutva that Hinduism alone is enough to keep Nepal in the Indian sphere of influence has... More

Does international pressure matter anymore?

There was once a time when international pressure on domestic issues of the less developed countries mattered. People would look at the West as the great savior particularly in countries where human rights was at bay. During the cold war days, this was strong too and many decisions were taken on the basis of what global public opinion would say. However, in recent years this has mattered less and... More

Pompeo claims to “reset” ties with Pakistan but makes India “strategic...

Just few days before the arrival of the US Secretary of the State, Mike Pompeo, in Pakistan, the US officially cancelled US$300 million aid to Pakistan, signaling the acute low health of Pak-US ties. Then came Mike Pompeo, who stayed in Pakistan for a few hours, and went to India, claiming to have “reset” ties with Pakistan, implying as if deconstructing an old building (the military aid) was necessary... More

UN report accuses Myanmar’s military of genocide

The UN’s independent human rights investigators have issued the toughest verdict yet on the crisis in Myanmar’s war-torn western region of Rakhine State. The investigators’ report does not mince words and is going to have major ramifications, both within the country, and within the international community. In their report, they called on the UN Security Council to refer the Myanmar situation to the International Criminal Court (ICC) or for an... More

VIDEO-INTERVIEW

OUTCOME AND FUTURE OF BMISTEC? & WHAT’S ON THE BALANCE?


The fourth summit of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC), held in Kathmandu on August 30 and 31, was “not fruitful” because of the inherent “weakness” of the regional inter-state institution,... More

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