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Five years after the global financial meltdown of 2008 and a Great Recession, which enveloped advanced nations, the world economy is still struggling to enter a path of sustained recovery while facing bleak prospects of a growth rebound in the near term. Post-crisis, global growth averaged 1.7 per cent (2008-12) at a much slower pace than in earlier recession episodes since 1970s, and as against the 4 per cent average in the pre-crisis boom years (2005-07).

Since he occupied the hot seat at the Reserve Bank of India (RBI) a few days ago, the country’s principal markets dealing in corporate stocks, government bonds, commodities, bullions and foreign exchange have been showing somewhat irrational exuberance, according 50-year-old hallowed MIT doctorate and former chief economist with the International Monetary Fund (IMF) Raghuram Rajan a rock-star’s welcome. The market sentiment has turned bullish. It seems happy days are to be here again. However, time alone can tell what is in store for the Indian currency and economy, especially in few months down the line.

New Delhi: Japan has agreed to resolve the problems faced by Indian marine exporters regarding the level of Ethoxyquin in shrimps by the year end.
Both India and Japan agreed to chalk out roadmap for bilateral investment in export-led manufacturing industries like automobiles, energy and creative sectors in India.

Political parties are playing with fire in the name of politics in Uttar Pradesh with the only goal of electoral gains. For them all is fair in elections. The recent Muzzafarnagar communal clashes in which more than 40 people were killed is a classic example of how the indifference of the state administration in dealing with this kind of communal clashes is being used for vote bank politics. Otherwise how do you explain such incidents in Western UP where Muslims and Jats had lived in harmony and even voted together! The current Jat- Muslim divide seems to have been scripted carefully.

New Delhi: India honoured the Nobel Laureate and the first lady of Liberia Ellen Johnson Sirleaf by according on her the prestigious Indira Gandhi Prize for Peace, Disarmament and Development Award-2012.

New Delhi: Japan has agreed to set up an electronics manufacturing township in India with world class infrastructure.

New Delhi: India has extended $ 144 million line of credit (LoC) to Liberia for funding power transmission and distribution in that country. The LoC will carry an annual interest rate of 1.75% and also cover the cost of preparing detailed project report (DPR).

LUCKNOW: The recent communal riots in Muzaffarnagar and neighbouring districts in western UP has resulted in the strong polarisation along religious lines, which would only help the BJP in forthcoming 2014 Lok Sabha polls.

India is determined to play an important role in working out ways for energy collaboration among the Shanghai Cooperation Organisation (SCO) member countries at the coming summit at Bishkek in Kyrgyzstan on September 13. India’s external affairs minister Salman Khurshid is representing India at the summit and his priority includes energy collaboration and security in the region.

New Delhi: India has suspected some foul play behind gunning down of a noted Bengali author Sushmita Banerjee outside her home in southeastern Paktika province in Afghanistan last Thursday.