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MASSIVE GOLD INFLOW RUINING INDIA’S RUPEE AND RATING

ECONOMY BEING HELD HOSTAGE BY BULLION MERCHANTS

By Nantoo Banerjee

Swiss banks may not be too happy with India’s latest round of searches for big Indian accounts there. But, largely impoverished India’s endless gold hunt, especially at a time when the global economy and trade are shrinking and stock markets around the world are going topsy-turvy following economic slow-down in China, has placed the Geneva-based World Gold Council on top of the world. India’s gold import last month hit a new 120-day high at nearly $4 billion while all other imports to the country shrank by over 15 per cent in value.  The massive gold import by bullion merchants, mostly from Mumbai and Ahmedabad, widened the country’s trade deficit to $11.7 billion in just one month. In the pre-reform period, India’s annual trade deficit rarely topped $5 billion. During the current financial year 2015-16, t

Davos jittery over Trump, oil, China

As the chattering chieftains of the global economy gather this week in Davos, Switzerland, they’re facing the darkest outlook since the financial crisis tipped the world into recession seven years ago. The Chinese slowdown and accompanying slide in the yuan are imperiling already sluggish international growth, oil is trading at its lowest level in more than a decade, stocks have suffered their worst January ever, and the […]

Greed and glory in emerging markets equities

|By Matein Khalid| Emerging markets were an entirely predictable horror story once again in 2015. The oil/mining bust, currency meltdowns, China’s hard landing, sovereign credit downgrades, banking system crises, corruption scandals and geopolitical crises from Ukraine to Syria, the Black Sea to the South China Sea devastated investor wealth in emerging markets.   India’s Sensex and Nifty were down 9% while the rupee has depreciated to 66 […]

BJP IN BAD SHAPE IN WEST BENGAL

MAMATA WOOING CONGRESS AGAIN

By Ashis Biswas

For the Bharatiya Janata Party in Bengal, the theme song could well be akla chalo re: Ironically, as the weakest opposition party in West Bengal, the BJP alone is not contemplating any alliance, with only a few months left before the 2016 Assembly polls.

Among other parties, the usually derided, much weakened Congress has emerged as the prime choice as an alliance partner both for the ruling Trinamool Congress (TMC) and the CPI(M). Interestingly, the Left camp remains divided over the question of political alignments. For instance, the CPI a firm ally of the Congress during the seventies, has put its foot down to any linkage with it, as have smaller parties like the SUCI or the CPI(M-L). The CPI’s logic: it points to its own remarkable decline over the years, which it sees as a consequence of its earlier reliance on

TRINAMOOL CONFIDENT OF WINNING SOUTH BENGAL

RURAL DEVELOPMENT MAY CLINCH 2016 POLL FOR MAMATA

By Ashis Biswas

As the ruling Trinamool Congress (TMC) and opposition parties gear up for the next round of West Bengal Assembly elections, their campaign themes have been established.

The TMC is contesting on a ‘development’ slogan, while the twin pillars of the opposition’s campaign will be ‘lawlessness and economic stagnation’, broadly speaking.

At first sight, the TMC’s claim of having improved the state’s economy may look suspect, if not downright dubious, to most observers. However, initial impressions may be deceptive. After 54 months of its tenure, the ruling TMC has consolidated its position in rural Bengal. Especially in the highly populated South Bengal districts, which account for most of the 294 seats in the Assembly, the TMC is confident of doing better than its op

RAHUL GANDHI DETERMINED TO GO TO JAIL ON NATIONAL HERALD ISSUE

By Nora Chopra

The Congress party is divided on the Congress strategy on the National Herald issue. While Rahul is adamant to go to jail, there are senior leaders who feel that it is not the correct strategy to be adopted at this time. According to a Congress general secretary, this is not the same time and neither is Rahul Gandhi an Indira Gandhi, while she had no charges of corruption against her. There are umpteen charges against the erstwhile UPA government. The Morarji government had been harassing Indira Gandhi. Thus when she went to jail there was a wave of sympathy in her favour. Congress senior leaders claim that Indira Gandhi was a mass leader which Rahul is not. Besides the Congress leaders are extremely concerned about the health of the 90 plus Motilal Vora and also ailing Sonia Gandhi

MAHARASHTRA PCC CHIEF GETTING CLOSE WITH STATE CHIEF MINISTER

Resentment is brewing within the Maharashtra Congress agains

PRIME MINISTER MODI’S MAIDEN KERALA VISIT A MAHA FLOP

SNDP BOSS’S LOSS IS CHIEF MINISTER CHANDY’S GAIN

By P. Sreekumaran

THIRUVANANTHAPURAM: There is no mistaking it. Narendra Modi’s maiden visit to Kerala as the Prime Minister was a damp squib though the State BJP unit would have us believe that it was a roaring success.

Despite the strenuous efforts of the BJP to put a positive spin on the controversy-marred Modi visit, the stark reality is that it has defeated the very purpose for which Modi undertook the much-hyped visit.

The main purpose of the Modi mission was to unveil at Kollam the statue of former Congress Chief Minister R Shankar with the avowed objective of appropriating the legacy of Shankar like the way the BJP tried to hijack Sardar Vallabbhai Patel.  However the effort came a cropper in a most resounding manner. The most visible sign of the failure of the visit was the snu

Zuma protests: Indian family in the eye of storm

As South Africans endure their deepest economic crisis since 2009, it’s not just President Jacob Zuma they blame. There’s a family whose name is increasingly the target of protest: the Guptas. As tens of thousands marched in October in South Africa’s biggest wave of nationwide anti-government protests since the African National Congress came to power, one poster, broadcast on the nation’s television channels, captured the public anger: […]

DELHI’S CLEANLINESS AND THE MUCK IN OUR MINDS

WHERE’S YOUR COOPERATIVE FEDERALISM, MR MODI?

By Garga Chatterjee

Those of us who are not of Delhi and live far away from the inner chambers of power, some aspects of the new Union government’s initial pronouncements were indeed exciting. Firstly, in consonance with the tone set by its leader in the 2014 Lok Sabha election campaign, the Central government wanted to be an enabler and not a micro-manager in people’s lives and aspirations. Secondly, it talked about co-operative federalism, by which, real federalism would be ushered in, in a spirit of co-operation between the constituent states of the Indian Union. Right now, these feel like promises from a different planet.

It is true that the government of India increased the percentage of tax money that would be given by the Centre to the states. But that came with a serious catch. The Union governm

King dollar trend is down, but not out

|By Matein Khalid| The plunge in crude oil after OPEC’s Vienna conclave, Dr. Draghi’s failure to resist Bundesbank pressure not to fire another ECB easy money bazooka, Wall Street’s junk bond debacle and an imminent rise in the Fed Funds rate for the first time since 2006 will all shape the next big trades in Planet Forex. The Euro has risen to 1.10 on Draghi’s failure to […]

India, Pakistan delegates share experiences in Dubai dialogue

|By Arabian Post Staff| A dialogue of legislators and officials of India and Pakistan held in Dubai last week underscored the urgent need to improve conditions allowing for free dialogue and sharing of good practices among citizens of both countries. The Dubai event was the second in a series devoted to sharing of experiences on governance, democracy and the fight against corruption. Participants from both sides expressed […]

Trump Tower website has outage after Anonymous' anti-Trump rant

NEW YORK The website for Trump Towers, Donald Trump’s glitzy signature skyscraper in Manhattan, went offline for at least an hour on Friday after activist hacking group Anonymous denounced the real-estate mogul and Republican presidential front-runner for his anti-Muslim comments. The website for the 68-story Trump Towers (trumptowerny.com), often used for his presidential campaign, was down after a tweet from an account associated with the anonymous hacking […]

RURAL INDIA NOT HAPPY WITH MODI RULE

GUJARAT RESULT IS A RUDE JOLT TO BJP

By Arun Srivastava

There is one common element in the peoples’ mandates of Bihar and Gujarat. In Bihar elections were for the assembly while in Gujarat it was electing the peoples’ representatives for the local bodies and municipalities. The common element in both the elections was the rural people decisively rejected Narendra Modi and his government. After its battering in Bihar, BJP’s loss in rural local bodies in Gujarat comes a year after Narendra Modi, who ruled the state for 12 years, shifted to Delhi.

The rural Gujarat rejecting Modi is most glaring as he had been systematically boasting for launching the Gujarat model of growth. In Bihar elections Modi initially had juxtaposed his model to Nitish’s Bihar model and claimed that it was inclusive and superior. Intriguingly the rural poor of Gujarat outright r

MEDICAL NEGLIGENCE HAUNTS MADHYA PRADESH

BARWANI EYE-CAMP DISASTER IS A WAKE UP CALL

From L.S. Herdenia

BHOPAL: Negligence and indifference by the concerned officials and failure to enforce relevant rules and procedure caused another tragedy in Madhya Pradesh. A few days ago about 80 persons lost their lives following a massive blast caused due to careless storage of explosive material. Explosion took place in Petlavad, which was part of Jhabua-Ratlam parliamentary constituency, was lost by the BJP. Petlavad explosion was one of the causes, which led to BJP’s defeat in the by-election.

The same factors which caused Petlavad tragedy are responsible for another tragedy in which more than fifty persons nearly lost their eyesight, after they underwent surgery at a cataract operation camp organised by the government from November 16 to 24 in Barwani. The affected persons were later referred to the MY

BJP MAY BE SURELY AFTER POLITICAL RIVALS

BUT, CONGRESS CHIEF MUST EXPLAIN LAND GRAB CHARGES

By Nantoo Banerjee

One would expect a late Indira Gandhi’s daughter in law to show greater respect to her mother in law by respecting the democratic system and to judicial summons instead of loudly protesting against them in Parliament to stop its normal function. The massive land grab charges against the president and the vice-president of the party pending before the court need to be fought there legally and not in Parliament. Indira Gandhi fought her election perjury case in the Allahabad high court, which she lost in the end, instead of trying to stall Parliament proceedings using her party representatives. The Delhi high court has found substance in the massive land grab allegation against the Congress president, her son and associates. They were directed to appear before the trial court. Like good citizens, they should have

PRIYANKA MAY BE PROJECTED AS FUTURE CM CANDIDATE IN UTTAR PRADESH

By Nora Chopra

Priyanka Gandhi is likely to be the chief ministerial candidate of the Congress in Uttar Pradesh in 2017. The thinking in the Congress that unless the Congress returns to power in UP, it cannot revive nationally. Again there is consensus within the party that if the party goes without a face in the election, then it would be difficult to revive itself in the party particularly when you have a young sitting chief minister like Akhilesh Yadav and a former dalit CM like Mayawati. After losing the Bihar elections, the BJP too has started the exercise of shortlisting the candidates. But the Congress I party is once again at a loss. They don’t have a leader in Uttar Pradesh who can match up the stature of both these UP leaders nor does Rahul have the stature of Narendra Modi or Rajnath Singh who can canvass in any state. The Congress leaders feel that by projecting Priyanka Gandhi as the CM before assembly elections in Uttar Pradesh, the Congress Party can be reviv

NITISH IS YET TO GALVANISE ADMINISTRATION

LAW AND ORDER, HEALTH ARE FOCUS AREAS

By Arun Srivastava

Performance of government, its outreach and initiatives matters but what is most important is the peoples’ perception of the government. It was perception of the Nitish led mahagathbandhan, of being peoples’ friendly and concerned of their aspirations that people voted it to power. But ironically after assuming power the grand alliance government has not made a serious move to consolidate it and make it the USP of the government.

Importance of the perception could be understood from the rout of the BJP in the assembly election. People perceived that the Prime Minister was following the RSS brief. Though it is too early to say that the Nitish government has not succeeded in coming up to the peoples’ perception within a period of fortnight, notwithstanding the chief minister Nitish Kumar personally has

KERALA POLITICS IN TURMOIL OVER NEW PARTY

CONFUSION PREVAILS IN BOTH BJP AND LEFT

By P. Sreekumaran

THIRUVANANTHAPURAM: Will the formation of a political party by the Sree Narayana Dharma Paripalana Yogam (SDNDP), the powerful organization of the dominant Ezhava community, catalyse the emergence of a third front in the State?

Political pundits are sharply divided on the issue. While there is one school which believes that the new party, christened Bharat Dharma Jana Sena (BDJS), will speed up the emergence of the third front, there is another stream of thought which thinks otherwise.

The latter is of the firm view that the Hindus themselves are a divided lot. In support of their argument, they point to the ambivalence of the BJP itself. It is of great significance, they aver, that the BJP and the Hindu Aikya Vedi stayed away from the function which marked the launch of the BDJS.

Oil in danger of repeating 90s rout

OPEC has seemingly dropped any attempt at trying to fulfill its founding mission and manage the global oil market. For Saudi Arabia’s Ali al-Naimi, the most powerful and longest-serving of the group’s oil ministers, it may have seemed like history was repeating itself. There are several striking parallels between the Organization of Petroleum Exporting Countries’ current situation and the period from 1997 to 1999, when the group lost […]

What do Arabs dream about most?

Arab countries’ political, social and economic realities affect their nationals’ dreams. We spend a third of our lives sleeping. What if we can unlock the mystery of what happens in our subconscious minds when we’re asleep? Are our dreams connected to one another? Does our local environment influence what we dream? What if we had a tool that can analyze hundreds of thousands of people’s dreams to […]

Saudi finances and the oil crash

|By Matein Khalid| Saudi Arabia has fascinated me since I first met Hani AZ Yamani as a teenage student all those years ago at Wharton. Hani’s father was Sheikh Ahmed Zaki Yamani, legendary Saudi Oil Minister (1962-86) under Kings Faisal, Khalid and Fahd. Sheikh Yamani managed the 1973 and 1979 oil shocks, survived a terrorist assault in Vienna by Carlos the Jackal, midwifed the birth of Saudi […]

Dubai-style mall set to enthrall shoppers in Doha

|TAP Special by K Raveendran| Landmark events about the development of a shopping mall generally involve major leasing deals or signing up flagship brands, or the launch of the mall itself. But Qatar’s Tawar Mall, coming up in a prime Doha locality, was the scene of a bit of fanfare this week for none of the above. The mall owners, belonging to the leading Qatari business family […]

Dubai-style mall set to create shopping thrill in Doha

|TAP Special by K Raveendran| Landmark events about the development of a shopping mall generally involve major leasing deals or signing up flagship brands, or the launch of the mall itself. But Qatar’s Tawar Mall, coming up in a prime Doha locality, was the scene of a bit of fanfare this week for none of the above. The mall owners, belonging to the leading Qatari business family […]

Cautiously, Iranians Reclaim Public Spaces and Liberties Long Suppressed

TEHRAN — As the music ended and the crowd rose in a standing ovation, several women in the audience could be seen with heads bared, the obligatory head scarves draped around their necks. This was no underground concert by an indie band in North Tehran, though. Rather, it was a recital by a classical lute player in Vahdat Hall. As the opera house emptied, the women casually […]