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Pb’s twisty take on the top five headlines of the day.
1. Stocks slide, bonds surge as Brexit fears resurface
Since Britain’s shock decision to exit the EU two weeks ago, investors have been consoling themselves with the expectation of yet more policy easing from major central banks. Asian equity markets mostly ended in red on Wednesday as pound plunged to over three-dacade low on rising uncertainties over the impact of Brexit last month. The news hit risky assets globally.
2. Government non-committal on action against Islamist preacher Zakir Naik
Banned in so many places and allowed to stay in India, just comes to show how incorrect certain morals can be. M.F. Hussain a great painter with a rags to riches story was banished from our country yet this person who has actually a threat to our nation and other nations of the world isn’t? How?
3. India’s 7.5 per cent growth rate may be overstated: US
There is an entire discussion of growth, high FDI, proactive policies, infrastructure growth, foreign exchange, legal system, etc. etc. But most news outlets found this “1 line” and wrote an article trying to demonstrate how US feels India is doing so bad, which is entire not the case if you read the report. The report also stated that the reforms were moving in the right direction and that could lead to improvement.
One question remains, as to how did the US develop from an agrarian society to an Industrial and technological super power by being democratic? Why did democracy never hinder American politicians from building skyscrapers or cause difficulty in building the Hoover Dam or labor unions resist relaxing labor protections?
4. Smriti Irani Shifted In Move Seen As Strong Action From Amit Shah
Whoever has done this analysis of moving out Smriti Irani from HRD to Textiles has missed a point. Modi is bringing a revolution in Textile industry, he needs a minister who can spearhead that initiative. Who else other than Smriti? Too premature to write off Smriti. BJP leaders know their ministers well.
5. PM Modi’s Africa Trip Seeks To Once Again Check China
African market could be a big boost for Indian economy and Chinese know this already. PM is selling the Brand India and he is trying to attract a bigger market then whats wrong with that? Every businessman wants his business to grow, get higher ratings and this helps him to grow beyond limits. Indians have enormous potential, an abundance in labor market then what else we need : is work, a quality work indeed which will come to us within years to come.