Friday, April 20, 2018

India will be the 6th largest economy in the world.

India has been declared the sixth largest economy in the world with a GDP of 2.6 trillion in 2017, as per the recently released report by Indian Monetary Fund (IMF). India displaced France to stand firm on this position, while the United States of America, China, Japan, Germany, and the United Kingdom are ahead in the race.

HIGHLIGHTS FROM IMF REPORT:

India has made progress on structural reforms in the recent past, including through the implementation of the GST, which will help reduce internal barriers to trade, increase efficiency, and improve tax compliance. "While the medium-term growth outlook for India is strong, an important challenge is to enhance inclusiveness," the report said.

India's high public debt and recent failure to achieve the budget's deficit target call for continued fiscal consolidation into the medium term to further strengthen fiscal policy credibility, the report said.

The main priorities for lifting constraints on job creation and ensuring that the demographic dividend is not wasted are to ease labour market rigidities, reduce infrastructure bottlenecks, and improve educational outcomes, the IMF said.

Wednesday, April 18, 2018

Raúl Castro Prepares to Resign as Cuba’s President, Closing a Dynasty

 Raúl Castro, who took over from his brother Fidel 12 years ago and led Cuba through some of its biggest changes in decades, is expected to step down on Thursday and hand power to someone outside the Castro dynasty for the first time since the Cuban revolution more than half a century ago.

During his two terms as president, Mr. Castro, 86, opened up his Communist country to a small but vital private sector and, perhaps most significantly, diplomatic relations with the United States. It was a notable departure from his brother’s agenda, yet it was possible only because he, too, was a Castro.

His handpicked successor, Miguel Díaz-Canel Bermúdez, 57, is a Communist Party loyalist who was born a year after Fidel Castro claimed power in Cuba. His rise ushers in a new generation of Cubans whose only firsthand experience with the revolution has been its aftermath — the early era of plenty, the periods of economic privation after the demise of the Soviet Union, and the fleeting détente in recent years with the United States, its Cold War foe.
Officials started gathering here in Havana on Wednesday morning and put forward Mr. Díaz-Canel as the sole candidate to replace Mr. Castro, all but assuring his selection by the Communist Party.

Though Mr. Díaz-Canel’s path to the top office has been forecast for years, many an heir apparent before him has fallen by the wayside in the search for a successor to lead the country, whether because of party disloyalty, snide remarks or projecting too much power for the Castros’ liking.

Saturday, April 14, 2018

Putin: Russia strongly condemns attack against Syria

By its actions, the United States is increasingly exacerbating the humanitarian catastrophe in the country, Vladimir Putin stated

Russia strongly condemns the attack on Syria, Russian President Vladimir Putin said on Saturday.

"Russia strongly condemns the attack on Syria where Russian servicemen are helping the legitimate government in the war on terrorism," the Kremlin press office quoted Putin as saying.


"Through its actions, the United States is increasingly exacerbating the humanitarian catastrophe in Syria and bringing suffering upon civilians, and actually collaborating with terrorists who have been tormenting the Syrian people for seven years and provoking a new wave of refugees from that country and the region as a whole," Putin said

Wednesday, April 11, 2018

Form UNP Govt. to end political crisis- Keerthi Tennakoon

As Sri Lanka was confronted with a huge political crisis, it should form a Government comprising one party, the United National Party (UNP), Campaign For Free and Fair Elections (CaFFE) Executive Director Keerthi Tennakoon said.

Speaking to the Daily Mirror, he said as the Sri Lanka Freedom Party (SLFP) did not have the Parliamentary majority, the UNP had the potential to form a new Government and find solutions independently.

“Confrontations can be seen within the Government due to the coalition Government. It was evident from the recent No Confidence Motion (NCM) against Prime Minister Ranil Wickremesinghe that it was impossible to run a Unity Government. 

“There are no proper consensuses within the Government. Two parties have incompatible ideas. This can’t go on in this manner. The incumbent Government is not stable. Therefore, we are in a position to say that a Government consisting of one party is necessary to the country,” Tennakoon said.

He said the Unity Government had created the atmosphere for the Tamil National Alliance (TNA) to support the Government.

The TNA, the official Opposition should act its due role as the Opposition party rather than extending its consent to anything done by the Government,” he added.
(Sheain Fernandopulle) dailymirror

The country is heading towards anarchy - Ven. Elle Gunawansa Thero

Algerian military plane crash kills 257 people

At least 257 people were killed on Wednesday when a military plane crashed near the Algerian capital, Algiers, state media reported.

The plane crashed shortly after taking off from the Boufarik air base, between Algiers and the city of Blida. Ten of those killed were the plane crew, according to state-run Radio Algérie. It was not immediately clear whether there were any survivors.

Wednesday's plane crash was the deadliest since 2014, when 298 people were killed when a Malaysian airlines jet was shot down over Ukraine.

The plane was supposed to go from Boufarik to Tindouf, and then on to Bashar, which are both towns on the Algerian-Morocco border, the Defense Ministry said in a statement.

Friday, April 6, 2018

One Country Is Making Sure All Employers Offer Equal Pay to Women

Iceland is credited for being the first country in the world to legalize abortion and the first to elect a woman as head of state in a national election. Now the progressive island nation in northern Europe will also be the first to ensure that all employees receive equal pay for equal work from employers.

On Wednesday—fittingly, International Women’s Day—Iceland’s government announced it would soon introduce legislation requiring that employers with at least 25 workers obtain a certificate proving they offer equal pay regardless of the gender, ethnicity, sexuality, or nationality, the Associated Press reported.

Court orders 24 years in jail for former President Park

A lower court in Seoul sentenced former President Park Geun-hye, 66, to 24 years in prison and fined her 18 billion won ($16.8 million) on corruption charges Friday.

This makes her the nation's third ex-president to be criminally convicted. 

The decision by the Seoul Central District Court came almost a year after she was removed from power. 

Park was not in the courtroom to hear the verdict and sentencing. 

She submitted her absence note earlier Friday, citing health problems, according to the court.

She has been boycotting hearings since last October. 

"As the head of state, Park ignored her responsibility and abused her power to destabilize the country, which is a total disrespect to citizens who elected her as president. Making it worse, she only denied all charges, which is not appropriate," judge Kim Se-yoon said.

Park has one week to appeal. Park's lawyers condemned Friday's ruling and said they'll consult with Park on what to do.

The prosecution which requested a 30-year prison sentence and a fine of 118.5 billion won ($110 million) in the final hearing in February did not have an immediate response. 

The judge found her guilty of pressuring major conglomerates to donate 77.4 billion won to the Mir and K-Sports foundations, organizations controlled by her key confidant Choi Soon-sil. Choi received a 20-year jail sentence in the lower court for taking bribes.

Park was also guilty of pressuring SK Group and Lotte Group to make separate donations to the K-Sports Foundation for projects and granted them business favors in return. 

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India will be the 6th largest economy in the world.