Thought for the day

"It will give us, for a course of years, good government and then only end, due to the corruption of the people, in despotism, which will be the only form of government suitable for them." -- Benjamin Franklin on the Constitution Philadelphia, 1789.

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Pakistan has a young and growing entrepreneurial population, with English as the main language for business, but inflation, as well as the recent political turmoil and devastating floods, are making it difficult for industries to flourish.

Tension among Pakistan’s business community is on the rise following unprecedented inflation caused by multiple factors, including COVID-19, monsoon floods and political instability.

Saudi Arabia ranked as India’s fourth biggest trading partner in the previous financial year, as the bilateral trade exceeded $42 billion. Riyadh also re-emerged as New Delhi’s second biggest oil supplier last month, after its position was briefly challenged by Moscow which has ramped up its energy exports to India this year.

India and Saudi Arabia are negotiating the “feasibility” of carrying out bilateral trade in national currencies, a statement from the Indian Commerce Ministry said.

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India Overtakes UK To Become Fifth Biggest Economy MikeRivero Sat, 09/17/2022 - 09:37

Just a decade ago, Indian GDP was the eleventh largest in the world.

Now, as Statista's Martin Armstrong shows in the chart belowwith 7 percent growth forecast for 2022, India's economy has overtaken the United Kingdom's in terms of size, making it the fifth biggest.

The unprecedented deadly floods and extraordinary monsoon rains which began in June, this year has destroyed lives, livelihoods and infrastructure in various regions of Pakistan, leaving one-third of the country underwater.

Media reported that owing to the floods, more than 2000 persons have died; more than 30 million of people have been affected. More than two million homes, 2 million acres of crops and some 3,000 miles of roads have been damaged. Half a million people were in displacement camps and many others were without shelter.

Taliban and Pakistani security forces exchanged fire along the after Pakistani soldiers tried to erect a military structure on the Afghan-Pakistani border, causing multiple casualties on both sides, the Taliban said on Wednesday.

The Pakistani military said its forces had responded to cross-border fire from militants, and that three of its soldiers were killed.

China and India have agreed to withdraw their military troops from the disputed border area, near the latter’s Ladakh region in the Himalayas. Although there has been a lot of dialogue amid the tensions, this a somewhat surprising development, which, from an American perspective, could be the beginning of a nightmare.

The last disengagement of troops on the loosely demarcated Line of Actual Control (LAC) took place a year ago. Delhi and Beijing have held more than half a dozen military and diplomatic talks following clashes on the border in 2020 that resulted in 20 Indian soldiers and four PLA troops being killed.

Indian and Chinese troops deployed at Gogra-Hotsprings (PP-15) in the eastern sector of the LAC have begun to disengage in a “coordinated and planned way,” the armies announced in a joint statement on Thursday afternoon.