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Posts tagged as Indias

Pakistan an afterthought in market eyeing future

Protesters burn a poster depicting India’s flag against what they call airspace violation by the Indian military aircrafts, in a protest in Peshawar.
HONG KONG: There’s no doubt of the seriousness underscoring the worst military standoff between India and Pakistan in decades, yet investors appear to be looking past the tension for now, at least when it comes to their stock markets.
India’s NSE Nifty 50 Index of blue-chip companies erased its gain Wednesday and the Pakistan benchmark plummeted as much as 3.8% as headlines emerged of fighter-jet skirmishes, with an Indian MiG 21 jet later reported to be shot down and its pilot captured.The dramatic escalation came just a day after Indian forces bombed a terrorist training camp in Pakistan.Yet by the end of Wednesday, Karachi had recovered most of its losses to settle for a mere 0.3% decline, with the Nifty 50 closing down by the same amount.Back to business as usual, apparently.Both the Nifty 50 and the SP BSE Sensex Index rose slightly Thursday, and Pakistan’s KSE 100 Index rebounded as much as 1.1% before trading little changed.They’ve invested more than US$2.2 billion net in the market this month alone, including three days of inflows through Tuesday, the last day for which the data is available.
The US$1.7 billion added on Friday (some of which could be linked to a stake sale in Kotak Mahindra) was the most since April 2015.Meanwhile, the options market is showing that investors are concentrating their attention further into the future.The cost of hedging against Nifty 50 swings in the next month remains lower than protection prices for three months out, despite a rebound in the past couple of days, implied-volatility data show.Just on Monday, the spread between the two hit its widest level since at least Sept 2017.Prime Minister Narendra Modi faces a hotly contested general election due by May.
At the same time, the mood of markets across the region continues to vacillate with each fresh update on progress – or lack thereof – on a trade deal between the US and China, now that the original March 1 deadline has been pushed out indefinitely.When asked in a Bloomberg Radio interview what risks investors were keeping an eye on, Kay Van-Petersen, global macro strategist with Saxo Capital Markets, said: “In the very near term we have India-Pakistan, which no one seems to take seriously given the history there.”Indeed the two sides have long been in conflict, fighting three major wars since the 1947 partition and exchanging regular gunfire across the border.Similar to South Koreans learning to live with decades of threats from the North, perhaps investors in the two countries may have a higher tolerance for such volatility – at least for now.

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Indian LoC violation: UN chief reassures Pakistan of ‘complete support’

ISLAMABAD : Pakistan has continued its diplomatic efforts to highlight Indian aggression and took the international community into confidence following India’s violation of the country’s airspace early Tuesday morning.
Qureshi spoke to UN chief Antonio Guterres on the phone on Wednesday and discussed the regional situation following Indias violation of Pakistani airspace on Tuesday.
We had concerns that the Indian government would try to disrupt regional peace to achieve political gains, said FM Qureshi, adding that we have kept the international community informed about out reservations and concerns.Qureshi also gave reference of his two letters to the UN chief on the matter.Indias act of aggression is a violation of UN charter and international diplomatic laws.The UN chief has reassured Pakistan of its complete support and cooperation.
Earlier, FM Qureshi in a letter to the UN Secretary General Antonio Guterres invited his attention towards the deteriorating security situation in the region in the wake of violation of Pakistans airspace by India, Radio Pakistan reported.This aggressive act by India has severe repercussions for the regional peace and security, said Qureshi, and added that, The Indian government is issuing threatening statements in the aftermath of Pulwama incident on the pretext of terrorism, in order to divert the world opinion from its grave human rights violations in Occupied Kashmir.
FM Qureshi categorically stated that Pakistan reserves the right to take an appropriate action in self-defence.The foreign minister also briefed the members of the diplomatic corps about the Indian violation of Pakistan’s sovereignty and territorial integrity in Islamabad.He also informed the diplomatic corps that at approximately 0254 hours, 6-8 Indian Air Force (IAF) jets were effectively intercepted by Pakistani Air Force (PAF) Jets and forced to scuttle back. The IAF randomly releasing their ordnance which landed in an uninhabited remote area, the foreign minister informed.
FM Qureshi strongly refuted the Indian purported claims of having targeted a large terrorist camp and resultant causalities. Its completely absurd and is based on a false narrative designed to placate the Indian domestic audience.
FM Qureshi also wrote a letter to the Secretary General of the Organisation of Islamic Countries Dr Yousuf bin Ahmed.Qureshi, referring to his letter from February 24, highlighted the Indian violation of the LoC and threat it posed to regional stability.IAF jets violated the Pakistani airspace by entering from the Muzaffarabad sector, they were faced by the Pakistani air force and were forced to return.The Indian act of aggression is a violation of international laws and is an act of misadventure.
Pakistan reserves the right to respond in order to defend itself, the foreign minister stated in the letter.Qureshi also highlighted the secretary general to reconsider the invitation given by the UAE to Indian minister for External Affairs Sushma Swaraj to attend the OIC meeting on March 1 as a special guest, saying that Pakistan would have to reconsider its stance regarding the summit, and asked the secretary general to review this situation.Reactions on Indias LoC violationPakistani Ambassador to the United Nations (UN) Maleeha Lodhi has also spread the countrys stance at the UN loud and clear, and said that, as a target of aggression, Pakistan will respond to India at a time and place of its choosing, Radio Pakistan reported.Ambassador Lodhi held a series of intense meetings with key diplomats and UN officials following Indias blatant violations of the Line of Control (LoC) by Indian war planes that worsened the already dangerous situation between the two countries.
She also gave interviews to representatives of international media.“We will not sit back,” she told BBC radio when asked whether Pakistan will respond to India’s attack.PAF chases away Indian jets after LoC airspace violationAmbassador Lodhi said that following the February 14 Pulwama attack in IoK, Prime Minister Imran Khan has offered investigation if actionable evidence was provided but none was forthcoming.The prime minister also proposed discussions and dialogue, but regrettably India responded by launching an attack on Pakistan in violation of UN Charter and international law, posing a threat to international peace and security.“This is not how countries act when responding to challenges,” the Pakistani envoy said.

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We have neither concern nor objection if India diverts water: Pakistan

In response to an Indian minister’s statement that his country has decided to stop the flow of water to Pakistan from its share in the rivers under the Indus Water Treaty (IWT), Pakistan says it has no concern if India diverts water of eastern rivers.
Indias threats an attempt to divert attention from Kulbhushan caseBut we will definitely express our concerns and raise objections strongly if they use or divert waters of western rivers (Chenab, Indus, Jhelum) on which our right to use prevails, he maintained.He said the planned Shahpurkandi dam was actually the stage-2 of the Ranjit Sagar dam. Though this project will also generate power, it will be used for irrigation purposes, he added.
While commenting about the proposed visit of Indian experts (Indias commissioner for Indus waters) to Kotri Barrage (Sindh, Pakistan) keeping in view the tension between the two countries after the Pulwama terrorists attack, the commissioner said: Lets see what happens in this regard. But we hope for the best.
Minister for Water Resources Faisal Vawda on Friday said India blaming Pakistan for the Pulwama attack is just another attempt by New Delhi to divert attention from spy Kulbhushan Jadhavs case in the International Court of Justice.February 23rd  2019.

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‘Bollywood Boulevard’ showcases century of Hindi cinema

Elizabeth Chalier & Sunthar Visuvalingam. CHICAGO: “Bollywood Boulevard (BB): A Journey Through Hindi Cinema” regaled a mixed audience at McAninch Arts Center (MAC) in Glen Ellyn, over the weekend of February 9 and 10.
ArticlesFeatured ContentsBreaking NewsAmerica land of opportunities where failure not stigma: Indian-American entrepreneurWASHINGTON: America is a land of opportunities where failure is considered not as a stigma but a path to success, a top Indian-American entrepreneur and philanthropist from the Silicon Valley.
Delhi vs Centre: SC delivers split verdict on control of services, refers it to larger benchNEW DELHI: The Supreme Court on Thursday delivered a split verdict on the contentious issue of division of powers between the Delhi government and the Centre over control of services,.Delhi vs Centre: Non clarity in judgment unfortunate; Delhiites will continue to suffer, says AAPNEW DELHI: Delhis ruling Aam Aadmi Party Thursday said it was unfortunate that there was no clarity in the Supreme Courts split verdict on who controls services in the National.
Grade 10 students develop AI device to help fix postureGURUGRAM: A team of Class 10 students here has developed a portable, cost-effective and user-friendly device driven by artificial intelligence (AI) that may help correct the posture of those suffering.Non-BJP parties to move SC against use of EVM: AP CMAMARAVATI: Some of the non-BJP parties have decided to approach the Supreme Court against the use of Electronic Voting Machines (EVM), Andhra Pradesh Chief Minister N Chandrababu Naidu said here.
Bookings start for first commercial run of Vande Bharat Express on Feb 17NEW DELHI: Bookings have started for the first commercial run of the Vande Bharat Express, billed as Indias fastest train, on February 17 between Delhi and Varanasi, railways said Thursday.PM Modi on two-day visit to South Korea from Feb 21NEW DELHI: Prime Minister Narendra Modi will pay a two-day visit to South Korea next week during which he will hold talks with President Moon Jae-in on a host of.
WB to see hard bargaining between Left, Congress for LS pollsKOLKATA: The West Bengal units of the CPI(M) and the Congress may have got the go-ahead from their central leadership for entering into a seat-sharing pact for the Lok Sabha.Maha sugar mill takes lead in making ethanol from cane juiceKOLHAPUR/PUNE: A cooperative sugar mill in Kolhapur district of Maharashtra has taken the lead in producing fuel grade ethanol directly from sugarcane juice in the state, a senior official said.
Rajnath Singh flags off inaugural flight from Lucknow to NajafLUCKNOW: Union Home minister Rajnath Singh Thursday flagged off the inaugural flight from Uttar Pradeshs capital city to Najaf in Iraq. Speaking on the occasion, he said the government wants.

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