The BRICS countries are working on establishing a new reserve currency to better serve their economic interests, ambassador at large of Russia’s Foreign Ministry Pavel Knyazev said this week. It will be based on a basket of the currencies of the five-nation bloc. “The possibility and prospects of setting up a common single currency based on a basket of currencies of the BRICS countries is being discussed,” Knyazev said during a discussion about expanding BRICS and the Shanghai Cooperation Organization.
According to the diplomat, member states are “actively studying mechanisms” to exchange financial information to develop a reliable alternative for international payments. In an effort to reduce reliance on the dollar and euro, BRICS is set to build a joint financial infrastructure that will enable a reserve currency to be created. The group, which comprises Brazil, Russia India, China, and South Africa, has been boosting economic ties, with trade turnover steadily growing despite restrictions brought on by the pandemic and conflict in Ukraine. BRICS had previously said it was working on establishing a joint payment network to cut reliance on the Western financial system. The member countries have also been increasing the use of local currencies in mutual trade.
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India has become the world’s fifth-largest economy after overtaking the UK, its former colonial master, during the final three months of 2021, Bloomberg reported on Friday.
“On an adjusted basis and using the dollar exchange rate on the last day of the relevant quarter, the size of the Indian economy in ‘nominal’ cash terms in the quarter through March was $854.7 billion. On the same basis, the UK was $816 billion,” the agency said, citing figures from the IMF database and historical exchange rates. This is the second time India has outperformed the UK in terms of its economy, having previously overtaken Britain in 2019. The South Asian nation now trails behind the US, China, Japan and Germany, and is expected to see its GDP expand by more than 7% this year. The report comes days after New Delhi published its GDP data for the first quarter, which showed that the Indian economy had grown by 13.5% year-on-year. It was a little lower than the Reserve Bank of India had expected, but the growth rate was still the highest of any developing country. Kshama Bindu, 24, from Vadodara, India has announced that she is planning to hold a wedding this month – but the groom will be none other than herself. As reported by the Times of India, the wedding will reportedly include all the traditional elements typical of an Indian wedding, such as the Saat Phere ceremony and the applying of the Sindoor – a vermillion mark indicating that a woman is married. The only thing absent will be the groom and the associated ‘baraat’ wedding procession.
“I never wanted to get married. But I did want to become a bride. So I decided to marry myself,” Kshama, who works in a private firm, said. She says her decision to tie the knot with herself came after she realized she would become the first woman in India to practice sologamy and “set an example of self-love.” “Self-marriage is a commitment to be there for yourself and unconditional love for oneself. It’s also an act of self-acceptance. People marry someone they love. I love myself and hence this wedding,” she explained. Kshama added that her self-marriage is an attempt to show that “women matter,” even if some people think it is nothing but a joke. The wedding is set to be held at a temple in Gotri on June 11. Kshama says she has already received her parent’s blessings for the union, and that she has written five vows she will recite to herself during the ceremony. And, of course, she will also go on a honeymoon trip, for which she decided on Goa, where she will stay for two weeks after the wedding. Sologamy, also known as autogamy, is the marriage of a person to themselves. The practice has become more widespread in the 21st century, especially among women, as supporters of the idea argue that it affirms one’s own value and leads to a happier life. However, self-marriage has yet to be legally recognized in any country, and has quite a way to go before becoming a social norm. Pete McGee NEW DELHI, July 14 -- The Indian Space Research Organisation (ISRO) said on Sunday that it was all set to launch second lunar mission Chandrayaan-2. The heavy-lift rocket GSLV-Mark-3 carrying Chandrayaan-2 will be launched from Satish Dhawan Space Center in Sriharikota, off the Bay of Bengal coast in the southern Indian state of Andhra Pradesh, at 2:51 a.m. local time on Monday. "The launch countdown of GSLV MkIII-M1/Chandrayaan-2 commenced today at 6:51 a.m. (local time). The launch is scheduled at 2:51 a.m. (local time) on July 15 (Monday)," ISRO said. "UH25 (fuel) filling of liquid core stage (L110) of GSLV MkIII-M1 completed. Propellant filling of liquid core stage (L110) of GSLV MkIII-M1 completed." Officials said the powerful 3.85-ton rocket will put Chandrayaan-2 in a highly elliptical orbit around the earth, following which its orbit will be raised through a series of maneuvers by remote by the ISRO scientists. Eventually, it will be taken out of the earth's orbit and made to reach the sphere of influence of the moon. Officials said the entire mission has a life of one year. According to the state-run broadcaster All India Radio, President Ram Nath Kovind is scheduled to witness the launch from Sriharikota. Reports said if India succeeds in this endeavour, it will become the fourth country to soft-land spacecraft on the lunar surface after the United States, Russia and China. Israel tried earlier this year but failed. BANGKOK, July 3 -- The office of the Dalai Lama released a statement Tuesday apologizing for the exiled Tibetan spiritual leader's controversial remarks on women during a recent interview with the BBC. "(In) responding to a question about whether his own reincarnation could be a woman, and suggesting that if she were she should be attractive, His Holiness genuinely meant no offence," the statement said. "He is deeply sorry that people have been hurt by what he said and offers his sincere apologies." In an interview the British broadcaster aired last week, the Dalai Lama said, "If female Dalai Lama comes, then (she) should be more attractive," suggesting that otherwise "people, I think, prefer not (to) see that face." His comment drew criticism from around the world on social media platforms. According to the statement, the Dalai Lama first referred to the physical appearance of a female successor in 1992 during a conversation with the editor of Vogue magazine, wherein he said a future Dalai Lama could be a woman "if that would be more helpful." At the time, he jokingly added that she should be attractive. "His Holiness consistently emphasizes the need for people to connect with each other on a deeper human level, rather than getting caught up in preconceptions based on superficial appearances," the statement said. "For all his long life, His Holiness has opposed the objectification of women, has supported women and their rights and celebrated the growing international consensus in support of gender equality and respect for women," it added. Author: Pete McGee OSAKA, June 28 -- U.S. President Donald Trump made clear on Friday that trade was his top priority at a summit of leaders of Group of 20 nations, as China's Xi Jinping warned against rising protectionism and India, Japan and Russia defended multilateral trade rules. Trump, who is holding a series of meetings on the sidelines with world leaders, including Japan's Shinzo Abe and India's Narendra Modi, said he saw U.S. trade prospects improving, days after criticising the U.S.-Japan security treaty and demanding that New Delhi withdraw retaliatory tariffs. "I think we’re going to have some very big things to announce. Very big trade deal. We’re doing some very big things with India in terms of trade, in terms of manufacturing," Trump said at the start of talks with the Indian prime minister. Trump, set to hold a high-profile meeting on trade with Chinese President Xi Jinping on Saturday, also made a push to discuss U.S. concerns about Chinese telecoms equipment maker Huawei at his meetings. Washington has pressed its allies to shun Huawei in their fifth generation, or 5G, networks on security grounds, and has also suggested it could be a factor in a trade deal with Xi. "We actually sell Huawei many of its parts," Trump said at his meeting with Modi. "So we’re going to be discussing that and also how India fits in. And we’ll be discussing Huawei." Asian shares stumbled during the day amid rising doubts that the highly anticipated meeting between Trump and Xi would ease trade tension. European Commission President Jean-Claude Junker flagged the shadow cast by the U.S.-China trade feud. "The trade relations between China and the United States are difficult, they are contributing to the slowdown of the global economy," he told a news conference. Xi also warned about the protectionist steps he said some developed countries were taking. "All this is destroying the global trade order... This also impacts common interests of our countries, overshadows the peace and stability world wide," Xi told a gathering of leaders of the BRICS grouping of nations on the sidelines of the G20 meet. DEFENDING WORLD TRADE RULES Modi at the same meeting called for a focus on reforming the World Trade Organization and Russian President Vladimir Putin decried what he called efforts to destroy the Geneva-based body. "We consider counter-productive any attempts to destroy WTO or to lower its role," Putin said. The situation of the global economy was worrying as global trade was feeling the effect of "protectionism (and) politically motivated restrictions," he added. Trump, who often castigates trading partners on Twitter and in his raucous political rallies, put a positive spin on trade developments with Japan. "I appreciate the fact that you're sending many automobile companies into Michigan and Ohio and Pennsylvania and North Carolina," Trump told Japanese Prime Minister Abe, referring to U.S. states critical to his effort to win re-election next year. Trump said the two leaders would also discuss Japanese purchases of U.S. military equipment, although a Japanese official said later the topic did not come up. Tokyo and Washington are engaged in difficult trade talks as Trump's administration seeks to lower the U.S. trade deficit. Japanese Economy Minister Toshimitsu Motegi and U.S. Trade Representative Robert Lighthizer were to meet later in Osaka. Abe welcomed Trump's visit, calling their frequent meetings "proof of the strong U.S.-Japan alliance". He later urged G20 leaders to send a strong message in support of free and fair trade, warning that trade and geopolitical tensions were rising and downside risks to the global economy prevailed. "Today, I want to discuss with leaders measures to further enhance momentum towards reform in WTO," he told them ahead of a working lunch. Trump renewed his criticism of the U.S.-Japan security alliance this week as unbalanced. "We will go in and we will protect them and we will fight with our lives and with our treasure," he said in an interview on Wednesday with Fox television. "We will fight at all costs, right? But if we’re attacked, Japan doesn’t have to help us at all. They can watch it on a Sony television, the attack." Under the decades-old U.S.-Japan security treaty, the United States has committed to defending Japan, which renounced the right to wage war after its defeat in World War Two. Japan in return provides military bases that Washington uses to project power deep into Asia. After the Trump-Abe talks, a Japanese official told reporters the leaders had agreed to accelerate trade talks and had agreed the alliance was stronger than ever. LONDON, June 1 -- British comedy icon John Cleese’s claim that London is no longer an “English city” has unleashed a flood of reaction on Twitter as Brits latch onto another topic to fight about. The Fawlty Towers and Monty Python star dredged up previous comments he made about the UK capital losing its sense of Englishness, tweeting that the observation has since been confirmed by virtually all his friends from abroad. “Some years ago I opined that London was not really an English city any more. Since then, virtually all my friends from abroad have confirmed my observation. So there must be some truth in it… I note also that London was the UK city that voted most strongly to remain in the EU.” David Aaronovitch, a columnist with the Times, sought to give Cleese a brief history and geography lesson: “London has long been a British city, John. Which you might expect, what with it being the capital.” However numerous people supported Cleese’s views: “The texture and fabric of life in London is not quintessentially English. And many ethnic English outside of London all say the same thing,” author Thomas Clements responded. Some noted that Cleese’s observations were a clear-cut case of confirmation bias while others noted the comedian’s comments were supported by the facts on the ground. Pauls Joseph Watson wrote: “Over 41% of London’s population is foreign born. London also has the second highest foreign-born population of any city in the world. London is clearly the least “English” city in England. Cleese is merely stating a reality that anyone who lives in London understands.” Cleese has been vociferous in his support for Brexit. Explaining why he voted Leave, he said: “I don’t want to be ruled by Brussels bureaucrats who want to create a super state.” MOSCOW, May 29 -- The probability that debris from an Indian satellite shot down earlier may puncture the International Space Station (ISS) has risen by 5%, Executive Director of Russia’s State Space Corporation Roscosmos for Manned Space Programs Sergei Krikalyov said on Wednesday. "The Americans have carried out calculations on the probability of the station getting punctured because of more debris surfacing and being dispersed. There are numerical estimates raising the probability of a puncture by about 5%," Krikalyov said at a session of the Russian Academy of Sciences’ Space Council.Senior Assistant to the Section Head at the Main Center for the Surveillance of the Space Situation Roman Fattakhov said earlier that more than 100 pieces of the debris appeared after India had tested its anti-satellite weapon, shooting down a satellite. The debris may eventually pose a threat to the ISS. India’s Prime Minister Narendra Modi said in a televised address to the nation on March 27 that the country’s Air Force had successfully tested its own anti-satellite weapon, shooting down a satellite in low near-Earth orbit. As Modi noted, the tests have enabled India to join the club of the world’s space super-powers, which includes the United States, Russia and China. The interceptor missile developed by India’s Defense Research and Development Organization (DRDO) was launched from a testing range located on Abdul Kalam Island in the Bay of Bengal. The satellite shot down by an interceptor missile was a space vehicle produced by India domestically. COLOMBO, May 7 -- Every suspect connected to the Sri Lankan Easter Sunday suicide bombings has either been arrested or killed, authorities said. "All those terrorists directly involved in the bombings are either dead or under arrest," Sri Lanka's acting Inspector General of Police Chandana Wickramaratne said in a statement late Monday. The announcement comes two weeks after coordinated bomb attacks ripped through three hotels and three churches throughout the country, killing 257 people and injuring many. The National Thowheeth Jama'ath terrorist organization has been blamed for the attacks and the Islamic State has claimed responsibility. Wickramaratne said among the dead were two bomb experts linked to the attacks and police also uncovered explosives stashed to be used in future attacks. He also said life will slowly return to normal, adding that security measures were being beefed up at schools, the Sunday Times reported. "This is not because there is a direct threat on schools," he said. "But everyone must understand the manner in which security measures must be undertaken." He also urged the public to disregard what they read on social media and rely directly on the security forces for information. Wickramaratne was appointed acting inspector general last week by President Maithripala Sirisena, who had demanded the resignation of Pujith Jayasundara, the former inspector general, for failing to uphold his duties by not thwarting the Easter Sunday bombings. Wickramaratne's Monday announcement follows the government having declared a state of emergency April 22 that allowed police and military forces to detain and question potential suspects without a court order. Meanwhile, Army Commander Lt. Gen. Mahesh Senanayake said the military has also increased national security measures under the emergency declaration while urging the public to return to their regular, daily activities. |
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