Showing posts with label US. Show all posts
Showing posts with label US. Show all posts

Friday, May 24, 2013

"Much of the Western journalism in Afghanistan today assumes that any Afghan who takes up arms against the West is a fanatical intolerant Muslim who is doing it for religious reasons"

William Dalrymple's new offering, Return of a King, is a fabulous account of the First Anglo-Afghan War and its disastrous consequences. As another defeat looms large in Afghanistan, he talks about the obvious parallels and divergences in an interview with Saurabh Kumar Shahi

What prompted you to write a book on the First Anglo-Afghan War? Did you find enough curiosity among the readers to lap up this subject?

The reason I write any book is not primarily what the readers want, I have to say. The first rule to write a successful book is you need to be passionate about it yourself. Having said that, I must add that it is a consideration. There are thousands of books I want to write on subjects, like my family history etc., who no one else will be interested in reading about. So, readers are a consideration. But it is not the only consideration. While I knew it would not be as successful in India as, say The Last Mughal; as the subject is not directly related to India, I expected it to sell in countries who are affected in one way or other by Afghanistan, including the 50-odd countries that are part of International Security Assistance Force (ISAF). So I thought it was a risk worth taking. Although you are right, it is not a famous story anymore. Very few people know this tale and fewer still know Shah Shuja. So it was a gamble. But the story was fabulous - the simple cinematic image of 18,000 soldiers marching in a country and only one man managing to return past Jalalabad is a driving force. It is such a strong and eternal image that it will work for a thousand years to come.

The impressive bibliography suggests that you brought in a whole new set of research materials for this book, including those from Afghan poets, chroniclers as well as British officers. Often such materials tend to be partial and exaggerated and incorporate folklore...
Sure, it is a different sort of source to the British colonial source. So, if you have a letter from Lord Aukland saying I want to move 5,000 troops from Barrackpore to Lucknow, you can be sure enough that 5,000 sepoys moved. When an Afghan poet says “A hundred thousand brave horsemen charged over the hill and made the Firangis flee for their life”, you obviously don’t take it with the same literal sense. But it is incredibly helpful in many ways, especially the way it portrays Afghan attitudes, and also who the people doing the fighting were – their motives. As with much Western journalism in Afghanistan today which assumes that any Afghan who takes up arms against the West is a fanatical intolerant Muslim who is doing it for religious reasons. The interesting part is that in Afghan sources you get very distinct reasons. The religious factor is there, and it is expressed as it is in rhetoric. But individual reasons are well defined by the Afghan sources. Abdullah Khan Achakzai participated because his girlfriend was seduced by Burnes. Aminullah Khan Logari joins in because his land is taken from him. However, you have to use them carefully. But you use British sources carefully too as they come with their own problems, including incorporating the imperial views.

It is not difficult to see some very obvious parallels between the 1842 war and now. Was there a deliberate attempt on your part to illustrate these parallels or were they so obvious that they would have come to light even without a little help from the writer?

I guess it was so obvious that I did not need to overdo it. The only times I explicitly talk about the parallels are in the introduction and conclusion. In the main body of the book, except the odd footnotes where I pass through a territory and say that it is now a US base or garrison, nothing is deliberate. Again, I have also pointed out differences. I think it is important to say that Hamid Karzai, with all his corruptions and failures, is at least a democrat. And similarly, Mulla Omer, although he has great following in some areas in the south, especially in and around Kandhar, is by no means a dominating central figure of resistance in a way that Akbar Khan and Dost Muhammad were in 1842. But readers would be awed by the astonishing parallels nonetheless.  


Source : IIPM Editorial, 2013.
An Initiative of IIPM, Malay Chaudhuri
For More IIPM Info, Visit below mentioned IIPM articles
2012 : DNA National B-School Survey 2012
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Thursday, April 04, 2013

B&E This Fortnight

INTERNATIONAL
BUSINESS, ECONOMY & FINANCE
Us debt deal done

After months of political wrangling and partisan posturing by both Republicans and Democrats in the Republican-led House of Representatives, President Barack Obama and his team were finally able to cut a deal that allows the US to trim its bulging deficit and raise the $14.3 trillion debt ceiling by more than $2 trillion in extra borrowing power, which will last till 2013. The agreement reached paves the way for $2.1 trillion in spending cuts spread over 10 years and creates a congressional committee to recommend a deficit-reduction package by late November. But the deal does not include any tax increases that Obama had pressed hard to include. Had this last-minute deal not come about, it would have led to a historic US default on payments to investors in Treasury bonds, recipients of social security pension checks, those relying on military veterans benefits and businesses that work for the government. Now that an agreement has been sealed, though after much fractious debate, the US and the world can breathe easy. It will help preserve America’s top notch credit rating, reassure investors in financial markets across the globe and possibly reverse the losses that spread across Wall Street in recent days as the threat of a default grew. However rating agencies may still downgrade America’s current AAA debt rating on concerns about the struggling US economy.

Sprint-lightsquared
The US’s first integrated 4G-LTE wireless broadband and satellite network, LightSquared, has announced a $9-billion network hosting deal with Sprint Nextel. The deal covers spectrum hosting and network services, 4G wholesale, and 3G roaming. LightSquared will pay the deal amount in cash within 11 years even though the time frame for the deal spans 15 years. Moreover, this agreement brings home the opportunity for Sprint to purchase 50% of LightSquared’s expected L-Band 4G capacity. On the other hand, the deal is beneficial for LightSquared for it expects to save $13 billion on network capital & operating expenses. The deal is expected to be a win-win for both, and will enable setting up a separate platform for Sprint Nextel’s hosting opportunities.

ExxonMobil profits
Riding on the high prices of oil and gasoline, the largest oil company in the US - ExxonMobil reported a 53% increase in its fourth quarter profits. ExxonMobil earned $10.7 billion for the quarter, up from $7.56 billion in the same quarter a year earlier. In the second quarter of the current year, ExxonMobil had increased its production by 10% leading to a 41% increase in its quarterly earnings. Earnings were $2.18 per diluted common share, falling short of analysts’ consensus forecast of $2.33, but still much better than last year. ExxonMobil in 2009 had bought natural gas explorer c for $25 billion and has recently purchased two companies in the gas rich Marcellus Shale area across Pennsylvania. The acquisition has boosted its production to an equivalent of 4.9 million barrels of oil a day.


Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri
For More IIPM Info, Visit below mentioned IIPM articles

Wednesday, March 06, 2013

Taliban was not only willing to hand over Bin Laden to the US

Documents suggest that in the years leading to 9/11, Taliban was not only willing to hand over Bin Laden to the US but also warned the latter of an impending terrorist attack

For example, an ISI official told visiting US Congressmen that “Pakistan will always support the Taliban”. This “policy cannot change”, he continued, because “it would prompt rebellion across the Northwest Frontier Provinces, the Federally Administered Tribal Areas, and indeed on both sides of the Pashtun-dominated Pak-Afghan border.”

It is now common knowledge that the US had been asking the Taliban to hand over Laden since 1999. These discussions stopped only a week before the 9/11 attack. However, the US was so adamant on its stand that Laden be tried by the Department of Justice— and not in a third country as Taliban suggested— that Taliban refused to hand him over. Officials described it as a missed opportunity. The former CIA station chief Milt Bearden said, “We never heard what they were trying to say. We had no common language. Ours was, ‘Give up bin Laden.’ They were saying, ‘Do something to help us give him up’.” Bearden added, “I have no doubts Taliban wanted to get rid of him. He was a pain in the neck but this never clickedwith us”. The US thought it was “unreasonable” on Taliban’s part to ask for evidence indicting Laden. Taliban, on its part, even cautioned the US that Laden was planning a big attack on American soil. In fact, former Taliban foreign minister Wakil Ahmad Muttawakil maintained that his repeated warnings, delivered because of apprehensions that the US would respond by waging war against Afghanistan, had been dismissed. US officials admitted to this fact but said that warnings were dismissed because they were “hearing a lot of that kind of stuff”.

Declining the Taliban’s offer to have Laden handed over shows that the US rather followed the policy of regime change well before the 9/11 happened. India was considered to have joined Russia, the USA and Iran in a conjunct front against Taliban, which enclosed aid for Northern Alliance, including “information and logistic support” from Washington. Former Pakistani Foreign Secretary Niaz Naik claimed that he had been informed by senior US officials as early as in July 2001 that military action would be taken against the Taliban by the middle of October. Readies had already been coordinated with Tajikistan, Uzbekistan, and Russia. Naik also said that “it was doubtful that Washington would drop its plan even if Bin Laden were to be surrendered immediately by the Taliban.”


Source : IIPM Editorial, 2012.
An Initiative of IIPMMalay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles


Monday, February 04, 2013

‘SEC’luded from power

Transferring SEC’s power will not solve the problem in the US

T he aftermath of the current financial turmoil in the US can be gauged from the very fact that the institution formed to protect investors’ interests after the Great Depression, the Securities and Exchange Commission (SEC) is now itself searching for protection! A legislation introduced earlier this year now aims at diminishing the power of the SEC by taking away its control of the entire gamut of financial products. As expected, the move, even before it was announced, has already spurred a high-voltage controversy between the various regulators. Mary Schapiro, Chairperson, SEC has announced that SEC would ‘profoundly’ question any move to strip it off its power. But the million dollar question remains, has SEC actually justified the powers bestowed on it?

Well, certainly not. Be it the decade old story of Enron or the latest of the lot, Madoff; SEC has failed to prove its pro-activeness. It was visible in the case of Enron and now one can hear the same for Madoff as well. SEC turned a blind eye to the entire issue of Bernard Madoff’s $65 billion Ponzi scheme despite repeated red signals being given from various agencies. Mary Schapiro asserts, “Different regulators have different perspectives and the best solutions come from the clash of varying viewpoints.” Well, aren’t things bad enough when the regulators are not getting in each other’s way?

Now the second critical question is who’s going to get those powers? Although nothing has been confirmed officially, it’s expected that the ball will land in the US Federal Reserve’s court. But, aren’t the Fed’s administrative abilities already in question ever since they allowed the banking ‘giants’ to jeopardise investor’s money by infusing them in sub-prime mortgage backed securities, which created the entire turmoil in the first place? Also, don’t you think that excessive concentration of power with the Fed may give rise to bigger troubles later, if it fails to handle the situation? So, what’s the solution then?


Source : IIPM Editorial, 2012.
An Initiative of IIPMMalay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles.

Friday, January 11, 2013

Bearing fruits for GE Healthcare in India

Bringing technology to the bedside of patients and ensuring that it fits the pocket size of the poor is bearing fruits for GE Healthcare in India

For starters, GE Healthcare India has reversed the trend of importing medical care technologies to India. In fact, it has built a portfolio of innovative indigenous products that are being sold globally, including developed markets of US & UK. V. Raja, President & CEO, GE Healthcare, South Asia comments, “The answer (to bringing prices down) came in the form of local manufacturers as it was cheaper as well as import duties were not applicable. However, local manufacturing called for significant investments in the form of buildings, tools and manpower. Moreover, there was this myth that locally manufactured products are not good in quality.” Indeed, relying upon local manufacturers for global quality products and that too at local costs is risky business. In fact, the only way out is acquisition and GE has been consistent with this strategy to invest in high technology, innovative businesses that deliver healthy toplines & bottomlines.

Besides, GE Healthcare India has invested a huge amount in R&D of medical equipments, and also unveiled a multi-billion dollar initiative called “Healthymagination” that aims to have a significant impact on improving health of patients worldwide by increasing access to cost-effective, quality health care products and services. GE Healthcare has partnered with the Government of India, state governments, and various Indian healthcare experts, thus making the initiative truly reflective of India’s healthcare needs. Further, at a time when others are shying away from investing in R&D (given the time & investment it requires) GE has gone ahead. In fact, it plans to spend $3 billion over the next six years on R&D that will help deliver better care to more people. In addition, GE has committed $2 billion of financing over the next six years to drive healthcare technology in rural areas, plus $1.5 billion for partnerships, content and services.


Source : IIPM Editorial, 2012.
An Initiative of IIPMMalay Chaudhuri
For More IIPM Info, Visit below mentioned IIPM articles.

Friday, November 09, 2012

The top-secret

The IIPM Think Tank proposes that the Indian budget should not only be a societal budget, but also be a platform wherein the contribution of aam admi should be allowed

R. P. Chidambaram in his last budget, quoted Tamil saint, Tiruvalluvar, and said that if ploughmen keep their hands folded, even sages claiming renunciation cannot find salvation. But he seems to be half prepared and seems to overlook those millions of farmers who are forced to keep their hands folded perennially, even for the most basic rights & necessities.

According to International Budget Project (IBP), participatory Budgeting provides a citizen a platform wherein they deliberate and negotiate over the allocation of public resources. Conventionally, civil organisation and social sector experts have been excluded from the budget preparation process in India. The budget seems to just represent the ruling party(ies). Even the Opposition doesn’t take initiative to have a pre-budget consultation or to put forward their memorandum or people’s voice before the FM. According to Open Budget Index, a recent study by the IBP, India provides citizens with “some information” on the Central government’s budget, while some countries, such as France, the US, South Africa, New Zealand, the UK and Slovenia, provide “extensive information” to their citizens.

UPA Government restarted the dis-investment process by permitting sell-off of power sector PSUs, through IPOs, in order to raise Rs.1,500 crores. However, this policy decision never got any mention in the budget speech but was mentioned in the credit column of budget balance sheet. In the last budget, FM announced the 22.5% increase in gross budgetary support for Central plan, but didn’t even mention anything about the state plans (wherein the increase in gross budgetary support for the state plans is just 8.2%), which further reveals the horrifying part of the story that 14.3% of Central gross budgetary support increase will actually be funded by the state resources.

The analysis and report by IBP depicts that India’s budget provides only limited information to the public and even to the Parliament. India does not even have the tradition of disclosing the pre-budget statement The study clearly shows that there is enough room for further improvement towards sharing budget information with the stake holders to ensure an informed participation.


Source : IIPM Editorial, 2012.

For More IIPM Info, Visit below mentioned IIPM articles.

 
IIPM : The B-School with a Human Face

Tuesday, August 21, 2012

WORLD: TROOPS

Stronger nations station their forces to intimidate weaker ones

Even in their nascent democracy, the Iraqi government is forced to pay heed to the popular sentiment; forcing US to commit complete withdrawal by end of 2011. There was a massive rally in Tokyo on January 30 this year to protest against US military’s presence in Okinawa. In Germany as well, the government is echoing the popular sentiment against the presence of US troops.

This new version of imperialism is another way in which stronger countries try to retain positions of power and influence in weaker countries and arm-twist them as per their needs. Such tendencies have to be curbed; as they are self defeating. In the long term, this is a dangerous strategy and breeds hatred and extremism. It backfired for Russia in Afghanistan. It backfired for US in Vietnam. It backfired for India in Sri Lanka. It will backfire even today. The solution is evident – just move out and do something more... stay out!


Wednesday, July 25, 2012

Scrutiny-SALARIES: IT OFFICIALS AND JUDGES

Salaries of Income Tax Officers and Judges Should be Decided by an Independent Panel and should be made at par with Other Nations

The same goes for judges in India. A recent bill passed by the Parliament had increased the salary of the Chief Justice of India (CJI) from Rs.33,000 to Rs.1 lakh month (equivalent to $2200), while for apex court judges, the salary has been increased to Rs.90,000 (equivalent to $2000) per month. However, a US district judge gets nothing less than $174,000 (as of 2009). The current salary for the Chief Justice in US is $18,625 per month, while the Associate Justices each make $17,825 per month. On an average, an American counterpart earns 8-9 times what an India judge earns!
The same goes for judges in India. A recent bill passed by the Parliament had increased the salary of the Chief Justice of India (CJI) from Rs.33,000 to Rs.1 lakh month (equivalent to $2200), while for apex court judges, the salary has been increased to Rs.90,000 (equivalent to $2000) per month. However, a US district judge gets nothing less than $174,000 (as of 2009). The current salary for the Chief Justice in US is $18,625 per month, while the Associate Justices each make $17,825 per month. On an average, an American counterpart earns 8-9 times what an India judge earns!

In UK, a judge earns £239,845 ($380865). UK spends around €27.4 million ($40.6 million) each year as judges’ salaries. Judges of the Supreme Court earn €257,872 ($382012) each every year. Interestingly, salaries paid to Irish judges are the second highest in the world. A brief glance through High Court judge salaries in France and Germany shows how they earn around $200,000 and $108,000 respectively annually.

India’s judicial pay scale is determined by Pay Commission recommendations, which is done periodically. But the July 2009 National Judicial Pay Commission suggestions were implemented by only Delhi, Maharashtra, and Madhya Pradesh. Similarly, the pay scale revisions of any government employees including income tax officers are based on Pay Commission recommendations approved by the government. In the US, regarding judicial pay adjustment, the pay scale rise is recommended by the Chief Justice. For civilian employees (that includes Internal Revenue Service, IRS, employees) pay scale adjustment, the executive order has to come from the President and it must be ratified by the Congress. A similar pattern is followed in UK and Canada.

In the case of India, where it’s very easy to manipulate laws and dodge the entire system by bribing officials at various cadres, an independent commission to decide the salaries of key government officials in judiciary as well as the IT department is a must. If corruption and high level crimes (by the influential people of society) have to be tackled at the roots, it is imperative that officials in the judiciary and the Income Tax department are at least paid the sky. It’s well said, if you throw peanuts, all you’ll get are...


Tuesday, July 24, 2012

This Time, The Entire US GDP will be Wiped off!

Question is, will The World see Tech-Bubble 2.0? The Incredible Valuations of New age Internet Startups do Indicate so. And what are we Risking? Amir Moin after an In-Depth analysis, Reveals The Answer – a Mighty lot!

C apitalists hate bubbles. Actually, they first love it. Dimes turn into hundreds of dollars, and before the investors wake up to reality, the stock markets crash. Valuations are reduced to ashes, and what is left of any industry hit by this dust storm is a sight of riches-to-rags investors, with the world looking on in helpless horror. The bursting of the dot com bubble of 2000, is an example. It is not every day that the world can withstand a blow of $6 trillion (the value that stock markets around the world lost between March 10, 2000 and December 31, 2002). And the current times – when US, Eurozone and many countries around the world are still digging themselves out of the slowdown disaster – is certainly not one.

But, the threat is growing by the day. The bubble, we mean. And once again, we find ourselves fearing the unholy apparition symbolising all that the world has suffered in the past, due to the cold savagery unleashed by a handful of financial engineers. And like it happened at the turn of the century, the accused this time again, will be the new age Internet startups. Only this time, the aftermath will be more unpleasant. This is how. Of the 308 companies that went public in 1999 (when the dot-com cycle was at its peak) the 24 largest of them, were valued by the bourses at $70.96 billion (the largest being Agilent Technologies, which was valued at $13.6 billion). As per Morgan Stanley, currently, the combined valuation of just the top five most sought-after unlisted Internet start-ups (which are forecasted to hit bourses anytime by mid-2012), totals a higher $71.3 billion (the largest of them being Facebook, at $50 billion)!

We are staring at a dangerous outcome. Events synonymous to those that led to the previous bubble are being seen in the present days. During the first half of 1999, New York was ablaze with venture capitalists funding any and every dot com start-up. IPO activity surrounding these companies was at an all-time high. According to Thomson Reuters, Wall Street made an estimated $1.3 billion in underwriting fees during that period. Investors in tech-stocks were the happiest of the lot. On March 10, 2000, the NASDAQ index peaked to an all time high of 5132.52, before closing at 5,048.62. That day, the total m-cap of companies listed on NASDAQ was $1.98 trillion. By December 31, 2002, the stock exchange had shed 73.55% of value – amounting to a loss of $1.46 trillion. If a similar mishap is repeated today, the NASDAQ alone will lose $3.01 trillion by December 2013 (as per March 31, 2011, valuation of domestic stock exchanges by World Federation of Exchanges ). Simulate the tumbling reaction on stock markets around the world, and you arrive at value lost of $14.77 trillion over the next 33 months – enough to wipe out the total GDP of US (which stood at $14.80 trillion for 2010, as per US Bureau of Economic Analysis) – sending a ‘stock’ shock wave 146.17% higher than the 2000-2002 Internet-apocalypse!