At last, and of course for the time being, crude has been tamed by the Saudi led cartel –OPEC. Prices are rising above the moderate level for the first time in two years. After touching $60 per barrel, Brent price has stayed on 60 plus for a considerable time. But who arranged this happy turnaround for producers? And most importantly how long will it last? Certainly, it is not the OPEC’s lone work that rejuvenated the black gold. Had it been capable as in the past, it would have done in the last few years itself. The late November agreement among OPEC and allies to cut production has made the turnaround. As part of the agreement, the OPEC decided to continue its curre
As the standoff between the Indian and Chinese Armies over the Bhutanese Plateau of Doklam enters into the second month, it is India’s ability to check the expansionist China’s ride over small neighbors that is on test. Under President Xi, who administer the country’s rising time like an emperor, China was able to establish control over several disputed island territories of small East Asian countries’ and the latter subdued their protest. Beijing’s Doklam endeavor is aimed at multiple benefits. On the one side, it can get control over the plateau from where it can monitor and target the Chicken neck. This will convert the trijunction as the weakest
India had several rounds of reforms; even in tax front, but this GST foot step is a big one. The greatness of the Goods and Service Tax that will be unveiled in a scheduled midnight one hour ceremony on June 30th is that it marks progressive, coordinated and development oriented mindset of the centre and states. Greater political maturity of our leaders to implement an economic reform of par excellence is clearly visible. Big reforms in the past, led by John Mathai, Nicholas Kaldor, Justice Wanchoo, LK Jha or Chelliah – all missed the political punch now embedded with GST. More than th
The expansion of internet is attracting thug masters into this dynamic world. Everybody is convinced about the capability of the bad industry after the night dance of WannaCry virus across internet domains last month. The malware was making users hostages and blackmailing them to prevent routine digital activities. WannaCry attacked systems running on Windows and demanded ransoms in bitcoin to leave the victim. Several institutions including FexEx and Britain’s National Health Service were tottered digitally. Cyber security pundits rate Wannacry as an advanced level ransomware. They predict that more destructive and pinching raids can be expected from cyber criminals in futu
In front of an estimated one billion global audience, India and Pakistan played a game of cricket without producing the thrills of the past. At the end of the surprisingly one-sided match, India posted its seventh straight wins in ICC tournaments over the archrival. Bothe countries now meets only in ICC tournaments as India has abandoned cricket ties with Pakistan after continuous terrorist attacks. The match at Edgbaston and its result tells more about the increasing disparities between the two nations beyond sports. Poor income from cricket, weak administration and inadequate exposure to high class cricket have adversely affected Pakistani teams’ game quality. On t
When the world’s biggest economies– the US and China are preparing for a trade tussle at the end of globalisation era, the world should keep its breath. President elect Donald Trump announced the preparation by appointing pre-WTO trade strategist Robert Lighthizer, as his chief trade negotiator, responsible for better deals aimed at reducing U.S. trade deficits. Mr Lighthizer – a known China critic, is an oldie who disliked the WTO led trade order where the US sat in the crowd. Deep rooted political rivalry is leading the both sides to wage a trade war. This is the danger side. One can feel the heat of the interwar period in recent years; at least on and around
Reflecting the tremulous relationship between the US and China, new data shows that China is successively reducing its investment in US treasuries. According to the latest data available as on December 9, China is no more the largest investor in US government bonds. The Chinese have reduced their US security holdings by $41.3 billion during October 2016. Total Chinese investment in US Treasuries is now $1.12 trillion. Now japan is the largest lender to the US with $1.13 tn investment in US securities. The weakening good will among the two countries is making them towards economic conflicts. Less investment in US securities will reduce mutual dependence and may strengthen th
Can the newly wed Saudi and Russia contain American shale? In the intense tussle between the conventional petro-producers and the new born frackers, the just concluded production cut decision will be deciding event. Or it will decide the ultimate power of Saudi Arabia and the US Shale in directing the crude market. Crude prices have shot up to $53 for the Brent variety in the global market on early Thursday. The deal is to reduce oil production by 1.2 million barrels per day in order to raise global prices. Something is expected on price front as this is the first-time OPEC is able to wrap maximum support from non-OPEC producers like Russia to arrest the price decline. As p
Ignorance produces disastrous ideas. If you are yet to be convinced, go through Mr Anil Bokil who is believed to be the brain behind demonetization. Mr Bokil who hasn’t have any formal education in Economics, has successfully burned the currency countersigned by esteemed persons like Raghuram Rajan in a flash. His dooms day like rhetoric is now replaced established monetary economics principles in India. Such people often comes to occupy history like meteors. Their role is not to construct but to destruct as construction takes years whereas destruction takes just hours. Russia’s Rasputin influenced the corridor of power and brought disaster to the country. Mr Bokil&rs
Dictionary on 1c-enter.ru
- Logic of withdrawing Rs 1000 and Rs 500 notes
- Why the GST reform is transformational?
- Raghuram Rajan: The Gladiator returns to Chicago
- Good intention but poor thinking - what troubles demonetization?
- High interest rate rather than inflation is the macroeconomic problem for India right now
- Japan’s first trade deficit in 30 years is part of the Global Shift
- India Black Money Report: CBI underestimates black money at Rs 25 lakh crore
- Arvind Subramanian rocks with 'Chakravyuha' in Economic Survey
- NREGS: give respect to the tax payer’s money
- Why we need an emergency monetization plan as well?