The Indian economy grew by 20.1% in the April-June quarter as compared to last year's same period. In 2020 Indian economy suffered a recorded contraction. This is marked as the fastest pace of growth since the nation began publishing quarterly gross domestic products in 1996. This percentage is far higher than the January-March quarter where the economy grew 1.6%. The nation battered the coronavirus and a months-long nationwide lockdown which contracted 24.4% in the quarter of April-June in 2020. It pulled the country into recession. The country faces a recession when the economy contracts
On Tuesday, China’s foreign ministry spokesperson Wang Wenbin said that imposing sanctions on the Taliban in Afghanistan will prove counterproductive and has urged the international community to support chances for positive development in the country. Wang Wenbin also said that Afghanistan is an independent and sovereign country and the United States and its allies should learn from the lessons of history. It reflects and acts prudently on issues related to Afghanistan. He further added that imposing sanctions and pressure at every turn cannot solve the problem and that it will only be c
On Monday, China hinted at stepping up a financial vacuum in Taliban-controlled Afghanistan. The officials said that it will play a “positive role” in helping the war-ravaged country amid global pushback. Chinese overseas ministry spokesperson Wang Wenbin said in his media briefing that the US is the “main perpetrator” for the Afghan disaster and Washington can not go away without doing something for Afghanistan reconstruction. China decided to financially help Kabul till the Afghan militant group modified its hardline non-secular insurance policies. China said that they have alway
British cricket legend Sir Ian “Beefy” Botham is appointed as the UK’s new trade envoy to Australia. Liz Truss who is the International trade secretary said that the Brexit backing sports star would do a “brilliant job” of drumming up trade for Britain. Botham will be among the 10 new envoys around the world. Lord Botham was the former England cricketer known for his legendary clashes with Australia. He once said that Aussies are “big and empty” just like the country whereas he was known in the country as “Guy the Gorilla”. He played 102 Test matches for England between 1
The German Foreign Ministry will provide for a program of 10 million euros ($11.7 million) to support people in Afghanistan. On Wednesday, this statement was released by Foreign Minister Heiko Maas. Maas said that they are looking into the period of the evacuation and he spoke about it with the representative of the German Human Rights Organization. He further added that there are many representatives of NGOs, science and culture addressed to them. In recent years they have maintained a close partnership with Afghanistan and would like to continue to support the nation. For the support,
On Tuesday, the Biden administration froze $9.5 billion of Afghan reserves. To keep the cash away from the Taliban's hand, the US administration has decided to freeze the accounts. The cash belonged to Da Afghanistan Bank which was blocked from being shipped to the war-torn nation. The decision was reported by the US Treasury Secretary Janet Yellen and personnel at the Treasury’s Office of Foreign Asset Control in The Washington Post. The administration official told the newspaper in a statement, “any central bank assets the Afghan government have in the United State will not be made a
The International Monetary Fund (IMF) has announced to block Afghanistan’s access to the emergency reserve. The reserves were worth USD 460 million which will not be accessed by the Taliban after they took over the control of the country. The decision was taken after being pressured by the Biden administration to restrict the Taliban to access the funds. The terror group entered the capital city Kabul of Afghanistan and seized control of the country. Taliban has taken over the parliament building, malls, government offices and taken everything under their control. The United Nations h
The second quarter of Japan’s economy has joined the turnaround seen across G7 countries as the lockdown restriction eases. The consumers were seen rushing to the shops after relaxation in the lockdown. The world's third-largest economy returned to health with a surge in exports. Japan beats the expectation of City analysts by capitalizing on global trade’s return. The first quarter saw a drop of 0.9% after which the economic output expanded to 0.3% in the second quarter, or by 1.3% using the annualized calculation which is more commonly cited by Tokyo. However, the analysts expected t
Indian Prime Minister Mr. Narendra Modi has announced Rs.100 lakh-crore to “Gati Shakti Master Plan” in his speech on 75th Independence Day. In PM’s speech, he pegged the project to be the source of employment opportunity in the future for the youth of the nation. Mr. Modi said in his speech that in the coming years they will launch the PM Gati Shakti Plan, a huge national infrastructure master plan that will make a foundation for “holistic infrastructure” and will give an integrated pathway to India. It will help raise the global profile of local manufacturers of the nation and
The Chinese president Mr. Xi Jinping’s government said it will make new laws on national security, monopolies, education, and culture. Signaling on that ongoing crackdown on various industrial sectors will continue to be the same. China’s cabinet, the ruling Communist Party of China (CPC), and the state council have published the plans as a part of a five-year plan. On Wednesday, the five-year plan was publicized for building a law-based government. Xi Jinping has made the “rule of law” which is one of the several signature aspects of his governance style. It will be extended to th