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October 18, 2017 Tibetan spiritual leader the Dalai Lama today said that he dreamt of an Asian Union with India, Japan and China as its members. The spiritual leader, who arrived here yesterday on his maiden visit to Manipur, asserted that India would make steady progress if people overcame their differences with humanism. Speaking to journalists at the City Convention Centre in the state capital here, the Dalai Lama reminded them of their responsibilities. “Media persons have a huge responsibility of educating people, bringing in a sense of oneness, handling corruption and criminal activities,” he said. The revered leader also said that he hoped to see an Asian Union, comprising India, Japan and China, some day. “I am an admirer of European Union, African Union and Malaysia Union. I dream of an Asian Union with India, Japan and China as members,” he said. Asked about the conflicts and insurgency in the northeast, the Dalai Lama said that problems existed all over

October 16, 2017 North Korea is often seen to be one of the most isolated countries in the present world. Yet, in one matter, the country is hyper connected: cyber warfare. Crossing e-swords with the West, the country has launched a string of attacks on government as well as private sector infrastructure. Curiously, there is an India angle in this conflict: North Korea launches few cyber attacks from its own soil. Instead it uses foreign computers. In India’s cases, often hackers are physically stationed in the country, launching cyber attacks on behalf of North Korea, reported the New York Times on Sunday. Building capacity North Korea was once a joke when it came to anything computers. It owned few machines and, therefore, had no expertise. Kim Jong-il, the father of the current dictator, however, changed that in the early 1990s. Jong-il saw the potential of computers to be used for espionage and began training people to do the task. His son and successor, Kim Jong-un e

October 19,2017 On Friday, India and Russia will kick off 'Indra', a ten-day military exercise that will see, for the first time, all the three services - the Army, the Air Force and the Navy - taking part. The military exercise, to be held in Russia, will mark a "a landmark event in the history of Indo-Russian defence cooperation", the Defence Ministry said in a statement. An IL-76 aircraft transported the Army and Air Force contingents to Russia on Wednesday while two Navy ships - the indigenously built INS Satpura and INS Kadmatt - docked at the Vladivostok Port on Thursday. The 10-day military exercise will be conducted at the 249th Combined Army Range Sergiyevisky and in the Sea of Japan near Vladivostok. In its previous nine editions, Indra has been conducted as a single-service exercise alternately between India and Russia. This year, all three Indian and Russian military services will take part in the annual exercise.  The Indian co

October 20,2017 The government is planning to formulate a national policy for domestic workers with an aim to expand the scope of applicable legislation, policies and schemes such as minimum wages, social security and skill development programmes. The ministry has invited views of all stakeholders and general comments on the National Policy for Domestic Workers till November 16, according to a notice by the Ministry of Labour and Employment. The new policy proposes to clearly define part-time workers, full-time workers, live in workers and employers and private placement agencies. The new draft policy, however, does not prescribe a minimum wage for a domestic worker, although the earlier draft a couple of years ago had proposed a minimum salary of Rs 9,000 per month for the skilled full-time domestic help along with benefits including social security cover and mandatory leave. As per the notice, the policy intends to set up an institutional mechanism for social securi

October 19, 2017 China today asked the US to shed its "biased views" and work with Beijing to uphold the momentum for a steady and sound relations, a day after the top American diplomat lashed out at the Chinese model of funding infrastructure projects and developmental activities. Chinese Foreign Ministry spokesman Lu Kang also said that Beijing is "happy" over the development of ties between India and America as long as they are conducive to regional peace. In a major India-policy speech  yesterday, US Secretary of State Rex Tillerson had highlighted the need for collaborating with New Delhi on offering alternative model of financing infrastructure projects and economic development to that of China whom he described as "predatory economics". He had lashed out at the Chinese model of funding infrastructure projects and developmental activities, saying it does not create jobs and results in enormous level of debt. Playing down Tillers

October 20, 2017 NEW YORK: UK regulators are looking into whether HSBC Holdings and Standard Chartered facilitated money-laundering as a result of possible ties to South Africa’s politically powerful Gupta family.  The Financial Conduct Authority probe comes after Peter Hain, a member of the unelected House of Lords, wrote a letter raising concerns about the banks’ possible exposure to the Guptas. In the letter, Hain said allegedly illicit funds may have passed through the United Arab Emirates and Hong Kong, where HSBC and Standard Chartered had large footprints.  “It will be no secret to financial crime experts that criminals target large and credible financial institutions for the same reasons that legitimate multi-national networks do — for their global reach,” Hain said in the September 25 letter to UK Chancellor Philip Hammond. “I have deep concerns and questions around the complicity, whether witting or unwitting, of UK global financial institutions in the Gupta/Zum

Sudipto Mundle, October 20, 2017 Is the policy interest rate too high, too low or just right? The policy rate which anchors the structure of interest rates, known as the repo or repurchase rate, is only one of several monetary policy instruments used by the Reserve Bank of India (RBI). However, it is mainly the repo rate that is the subject of much debate. Recently, two of our leading economists engaged in an open debate on this issue. Economic Advisory Council member Surjit Bhalla published a pugnacious critique of senior Bhartiya Janata Party leader Yashwant Sinha’s earlier broadside against the government’s mismanagement of the economy (The Indian Express, 29 September). Subsequently, former National Statistical Commission chairman Pronab Sen published a detailed rebuttal of Bhalla’s critique (The Indian Express, 11 October). Their exchange covered a range of issues, but this column is limited to issues raised by them regarding interest rate policy. For purposes of transpare

The Economic Times, Pierre Omidyar            October 18, 2017 While it’s hard to believe that helping strangers connect through the internet was ever a radical idea, when I started eBay 22 years ago, it felt more like a social experiment than a business endeavour. And in many ways, it was.  Back then, online commerce was a new and wild frontier. I believed in our mission to empower people to conduct private trade on the internet, but there were unforeseeable challenges lurking deep in those uncharted waters. I had a lot to learn, and I felt a deep responsibility to help build an accountable and sustainable new industry – a weight that the leaders of today’s evolving social media industry shoulder as well.  For all the ways this technology brings us together, the monetisation and manipulation of information is swiftly tearing us apart. From foreign interference in our elections to targeted campaigns designed to confuse and divide on important social issues, groups looki

CNBC, Arjun Kharpal October 19, 2017 Cryptocurrencies like bitcoin are not the "new gold," Goldman Sachs said in a note, advising investors that precious metals "remain a relevant asset class" in portfolios. In a note to clients earlier this week, Goldman detailed the benefits of holding gold in a portfolio. "The use of precious metals is not a historical accident – they are still the best long-term store of value out of the known elements," the investment bank said. But it also addressed the rise of cryptocurrencies. Many commentators have dubbed bitcoin "digital gold" because of the fact it has a finite supply and has at times seen price rises due to geopolitical tensions. Goldman concluded that bitcoin is not a good store of value versus gold. "Gold wins out over cryptocurrencies in a majority of the key characteristics of money," Goldman said. The analysts said that digital wallets, where people can s

The Times of India, Indrani Bagchii October 19, 2017 , New Delhi  India and European Union have restarted negotiations on a civil nuclear agreement that was virtually mothballed after being signed way back in 2009. European Union experts from Brussels held discussions with officials from department of atomic energy last week in Mumbai. With Europol beginning a working relationship with India's NIA to tackle terrorism and track terror groups that might target either side, there is a greater emphasis on security, counter-terrorism and foreign policy between India and EU, indicating the two are moving beyond their stalled free trade agreement. The India-EU civil nuclear agreement, unlike others, focuses on nuclear safety and "non-power technologies in the areas of water, health care and medicine, environment, etc." Indicating a new interest in cooperating on maritime security, EU has asked India to escort World Food Program (WFP) ships through the Indian Ocea

The Economic Times October 18, 2017 Wednesday is an important day for Prime Minister Narendra Modi. What makes it important is because of what's happening in neighbouring China.  While Modi is seen as a brave leader who can ignore checks and balances for bold reforms, he is also seen as a strong-arm leader outside India, especially after India’s surgical strikes in Pakistan-occupied Kashmir. India’s challenge to China during the Doklam standoff only amplified this persona.  On the backfoot after the border skirmish, Xi Jinping is trying to turn the page at the critical once-in-five years party congress of the top leaders of the Communist Party of China. Considered China's most powerful leader since Deng Xiaoping or even Mao Zedong, Xi will try to use the congress to lay the foundation to stay atop the 89-million-strong party even longer than the normal 10 years.  That would break the unwritten two-term limit accepted by his immediate predecessors Jiang Zemin a