India adopting dangerous military policies, says Sharif – (International Relation)
- Pakistan Prime Minister Nawaz Sharif on Friday accused India of setting off a new arms race in South Asia and not responding to his peace overtures, while urging the U.S. to reconsider some of its “existing assumptions and analyses” about the region.
- Mr. Sharif said that despite his efforts to reach out, India had refused to talk to Pakistan “on flimsy grounds.” He said the U.S. paying greater attention to Pakistan’s “views and interests” would be useful for Washington to play “a very constructive role in preventing the ever-present danger of escalation” and promote stability in South Asia.
Finally, Sahitya Akademi breaks its silence, condemns Kalburgi killing – (Indian Polity)
- To speak or not to speak. That was the choice before the Executive Board of the Sahitya Akademi which met on Friday under the watchful eyes of two competing groups of writers, the Progressive vs. the Nationalist writers and thinkers.
- While the Progressives wearing black-bands and supported by political parties wanted the Akademi to come out with a strong resolution against the climate of distrust and rising intolerance, the Joint Action Group of Nationalist Minded Artists and Thinkers (JANMAT) chanting Bharat Mata Ki Jai were there to ensure that the Akademi maintained its silence and distance from politics.
Basu is Atomic Energy Commission’s new chief – (Science and Technology)
- Sekhar Basu, who played a key role in building the reactor for India’s nuclear-powered submarine called Arihant, took over on Friday as Chairman, Atomic Energy Commission (AEC), from R.K. Sinha who has retired.
- Mr. Basu will also be Secretary, Department of Atomic Energy (DAE). He was till now Director, Bhabha Atomic Research Centre (BARC), Trombay, Mumbai. An engineer of exceptional calibre, he was earlier Chief Executive of the Nuclear Recycle Board.
India, Africa align on WTO issues – (International Relation)
- India and Africa said on Friday that the two partners are aligned on the outstanding issues at the World Trade Organisation (WTO) and are in favour of multilateral trading systems.
- “The WTO Ministerial scheduled for December in Nairobi will be held for the first time in Africa where we will be looking for outcomes that will be of interest to both India and Africa,” Minister of Industry and Commerce, Zimbabwe, Mike Bimha said briefing reporters after the 4th India-Africa Trade Ministers’ meeting on the eve of the 3rd India-Africa Forum Summit here on October 29.
Support U.N. reforms, PM tells Africa – (International Relation)
- Raising the pitch for U.N. Security Council reforms, Prime Minister Narendra Modi on Friday asked 54 African nations to join India in demanding an overhaul of the global body to make it more “democratic, inclusive and representative” of the current world.
- He said the present day world was facing challenges like terrorism and climate change which did not exist when the U.N. was founded 70 years ago and the global body ran the risk of losing relevance if it did not adapt to the new systems in the world.
Multitude of concerns for Indian strategic interests – (International Relation)
- India has reacted strongly to the U.S.-Pakistan joint statement, especially with reference to terrorism, nuclear cooperation and support for hydropower dams in Pakistan-occupied Kashmir.
A prescription for the IMF – (Economics)
- Reserve Bank of India Governor Raghuram Rajan, known for his forthright and plain-speaking manner, has once again trained his guns on the International Monetary Fund — where he once served as Chief Economist.
- The world’s premier multilateral lending institution, he said, had failed to fulfil its role in ensuring that national monetary policies did not end up hurting the global economy as a whole.
India to grow at 7.4% this fiscal, says BoFA-ML – (Economics)
- India is set to grow at 7.4 per cent this financial year, according to a report by Bank of America Merill Lynch released on Friday. The report also said that the Reserve Bank of India is likely to cut rates by another 25 bps in February.
- The brokerage firm cut the growth forecast for FY16 to 7.4 per cent from its earlier prediction of 7.5 per cent. India grew at 7.3 per cent in 2014-15. The BoA-ML forecast for this financial year is the same as the RBI’s prediction, made when rates were last cut at the end of September.
China’s central bank cuts interest rates – (Economics)
- China’s central bank cut interest rates for the sixth time since November on Friday, and it again lowered the amount of cash that banks must hold as reserves in another attempt to jumpstart a slowing economy.
- China’s monetary policy easing is at its most aggressive since the 2008/09 global financial crisis, underscoring concerns within Beijing about the health of the world’s second-largest economy.