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Will Narendra Modi’s Economic Diplomacy Work?

Driving around Lutyens' Delhi these past few months has been a commuters' nightmare and a Vexillologists' delight - the city has seen hundreds of flag changes to honour visits by heads of state who have trooped in and out of the city (it's protocol to display the flag of the visiting country head along-side the Indian flag on the road leading up to Rajpath, South Block, airport, and at all meeting venues). ...

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Zakhilwal named economic advisor

President Ashraf Ghani Ahmadzai has appointed former finance minister Hazrat Omar Zakhilwal as acting finance minister and his advisor on economic affairs, the Cabinet Secretariat said on Tuesday. Previously, the new president had appointed his former competitor in the presidential election, Dr. Abdullah Abdullah, as Chief Executive Officer. Abdullah’s running mates Eng. Mohammad Khan and Mohammad Mohaqiq w ...

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Gold, Crude Oil Prices to Trade Lower in Coming Fortnight

Global markets traded on a positive note in the last fortnight on the back of the statement from the US Federal Reserve in terms of keeping interest rates for considerable amount of time. Further, Scotland voted for no independent country from the UK, along with China declaring additional stimulus of 500 billion Yuan continued with an upside in the markets. However, sharp upside in the markets was capped du ...

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Afghanistan’s Economy on the Verge of Collapse

By Florance Ebrahimi Power vacuum looms for Afghanistan as UN delays date for result of presidential elections to mid-September despite Karzai’s plans to leave office next week. Afghan President Hamid Karzai, who came to power after the U.S.-led invasion that toppled the Taliban in 2001, has set Tuesday as the deadline for a new president to take office, but a clear winner has yet to emerge after two rounds ...

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The Trans-Afghan Pipeline Initiative: No Pipe Dream

By: Marc Grossman NEW HAVEN: An avalanche of bad news has engulfed the world – murder in the skies over Ukraine, renewed war between Israel and Hamas, and a terrorist resurgence in Iraq. Amid the global chaos, one positive development got little attention – a development that could help advance peace between India and Pakistan, improve chances for reconciliation in Afghanistan, undermine energy blackmail by ...

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High gas price irks Kabul residents

Kabul residents have blamed the government for the rising prices of gas , which is currently sold at 140-150AFN per kilo in the market, compared to only 50 AFN per kilo a few months ago. The steep rise in prices for gas is linked to the scarcity of gas in the market. Residents wait in the queue for hours at a government store to purchase gas. “I came here about 5:30am and now it is 12:30pm but I cannot find ...

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CASA-1000 To Bring In USD 65mn In Revenue To Afghanistan

Afghan Ministry of Energy and Water (MoE) official said implementation work of the CASA-1000 project would begin in 2015. Deputy Minister Eng. Ghulam Farooq Qazi said the project would generate USD 65mn in revenue to Afghanistan. “We expect revenue of USD 65mn annually based on our calculation of 2.5 cents per kilowatt,” said Qazi. He added the energy ministers of the concerned countries would meet in Dubai ...

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Thin Diamond Films Provide New Material for Micro-Machines

Airbags, inkjet printers and video projectors may not seem to have much in common, but all three rely on the action of tiny, microscale devices in order to work properly. These devices, known as microelectromechanical systems (MEMS), are of growing interest to researchers because of their wide range of applications, from microphones to biosensors. Most of the current generation of MEMS are made primarily of ...

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China Needs this one more thing to Become a Truly Developed Country

China continues to be front and center on my list of concerns, even moreso than the latest Federal Reserve press release or fluctuation in the Dow (although you should pay attention). I believe China is the single biggest risk to world economic equilibrium, even larger than Japan or Europe. This week my young associate Worth Wray provides us with a keenly insightful essay on what is currently happening in C ...

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Wall Street Hounded by Multiple Concerns

There seems to be no respite for Wall Street on Friday, as the futures point to a notably lower opening. Notwithstanding positive Chinese manufacturing data, Asian stocks succumbed to a sell-off on Wall Street overnight. The not-so-inspiring domestic earnings and lukewarm economic data amid the macroeconomic gloom, accentuated by the crisis in Ukraine and its ramifications for the global economy, are not he ...

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The U.S. has Outspent the Marshall Plan to Rebuild Afghanistan

WASHINGTON – In June of 1947, Secretary of State George Marshall delivered a wholly unexpected commencement speech to the newly minted graduates of Harvard University. The United States, Marshall announced, would launch a massive reconstruction effort to rebuild Europe in the devastating aftermath of World War II. The subsequent effort, the Marshall Plan, put Europe back on the path to prosperity and has be ...

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Oil Depot Catches Fire As Libya Battles Rage

Tripoli's main fuel depot has been set ablaze after rockets fired by one of Libya's armed groups struck and ignited a tank, the National Oil company (NOC) said. Black plumes of smoke rose over the fuel tanks, which store oil for use in the capital and are located near Tripoli's international airport. Firefighters deployed to tackle the blaze were forced back by the fighting, NOC spokesman Mohamed al-Harari ...

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Pomegranate Boom in Kandahar

Lying in the shade of a pomegranate tree, Sardar Wali, 50, looked forward to an abundant crop. “As long as my orchard isn’t hit by disease and the security situation doesn’t deteriorate, I will have such a high yield this year that all my problems will be solved,” he said. Pointing at the small green fruit on the trees, he said, “Do you see these pomegranates? Once they’re ripe, their seeds will be visible ...

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Turkmenistan, Afghanistan discuss possible establishment of transport corridor Afghanistan-Turkmenistan-Azerbaijan-Georgia

Delegation of the Afghanistan’s Foreign Ministry headed by Director General of the Economic Cooperation Department Wahidullah Waisi on July 25 arrived The Turkmenistan. The sides discussed priority areas of cooperation between the two countries in trade and economic sphere. They emphasized the relevancy of practical implementation of initiatives aimed to promote international efforts of the regional economi ...

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China to play an active role in Afghanistan’s economic development

China’s Special Envoy for Afghanistan, Sun Yuxi, assured that his country would stand by Afghanistan by supporting the peace process and playing an active role in the country’s economic development and stability. Addressing a press conference in Kabul on Friday, Yuxi said China would continue to work with the Afghans and promote the Afghan-led peace process and continue its aid to Afghanistan. He added Afgh ...

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US Suggests Global Energy Firm To Take Forward TAPI Project

The United States has urged Turkmenistan, Afghanistan, Pakistan and India to engage an international energy company to take forward the ambitious TAPI gas pipeline project that has the potential to transform the entire region. “We encourage the TAPI parties to bring an international energy company into the project to work in cooperation with Turkmengaz in the development of the gas supply and serve as comme ...

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US To Provide Additional USD 9.3 Million Aid To Pakistan

The US today said it will grant an additional USD 9.3 million aid to Pakistan to meet the health and livelihood needs of over a million internally displaced persons (IDPs) from North Waziristan where a major military operation is underway against Taliban. The funds will be provided through the United States Agency for International Development (USAID), the US embassy said in a statement. The US government w ...

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Do Tax Cuts Create Jobs?

The idea of economic zones with lower taxes to spur business has been floated since the 1970s, most notably by the late U.S. Rep. Jack Kemp in the 1980s and 1990s. But the idea has never gotten anywhere on the federal level. Economists have debated for decades whether tax cuts lead to jobs and can’t find a clear consensus. When 41 economists were asked in 2012 by the University of Chicago’s Initiatives on G ...

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Harold Meyerson: In Germany, Capitalism that Works

As long as U.S. intelligence agencies are hell-bent on spying on Germany, why can’t they turn up some truly useful secrets? For instance, how to have an economy that bolsters a nation’s power and fosters a vibrant middle class. The latest edition of the CIA’s World Factbook spells out how Germany succeeds and the United States fails at these crucial tasks. The book ranks the planet’s 193 countries by their ...

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Fuel Prices Hike in Afghanistan Due to Hoarding

Fuel The Fuel and Liquid Gas Enterprise (FLGE) revealed the names of companies that have resorted to hoarding, causing a wave of inflation on fuel prices in Afghanistan. Rahmanian Company, Ghazanfar Fuel Company, Afghan Petrol, Noor Sadiq Ansari, Younes Company and Haidari Brothers are identified by FLGE and have received warnings from the Ministry of Commerce and Industries (MoCI). The companies had purcha ...

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