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US ends waivers for India to buy Iranian oil

In a blow to India’s energy security and efforts to diversify its oil imports, the United States announced on Monday it is ending the waiver given to India to buy Iranian oil and has threatened sanctions if it did not comply with the embargo.

More on Economy and Business

Energised, yet powerless - Pakistan in a Deadly Trap?

Trapped in an unaffordable energy paradigm, Pakistan’s economy has been experiencing crippling power shortages while its government is mired in mounting circular debt generated by this very paradigm.  The mountain of circular debt keeps rising at the rate of one billion rupees per day! If, in order to eliminate circular debt, the government passes on the full cost of this unaffordable power to the people, there will be rioting on the streets. How did the country land in such a deadly trap? Writes Syed Mohibullah Shah  

India’s growth can expand global economy: PM at UN

Showcasing India’s economic growth and clout, Prime Minister Manmohan Singh told the United Nations General Assembly (UNGA) that “a fast-growing India can expand the boundaries of global economy.” Despite a global financial crunch, India is growing at close to 8 per cent, second only to China.

South Asia Needs 1 Mn New Jobs Per Month: World Bank

 To ward off poverty and promote growth, South Asia needs to create one million new jobs every month for the next 20 years, the World Bank warned Friday.To meet the target, no easy task on its own, the eight countries in the region would have to accelerate reforms, including ending conflict, controlling corruption, addressing electricity crises and bettering the education level.

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