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Showing posts from December 21, 2014

Indian-American Verma Sworn In As US Ambassador to India

 Lalit K Jha | Washington | Dec 20, 2014 http://www.outlookindia.com/news/article/IndianAmerican-Verma-Sworn-In-As-US-Ambassador-to-India/873617  Richard Rahul Verma, who quietly played a key role in the Congressional passage of the civil nuclear deal and a strong advocate of deepening Indo-US ties, has been sworn in as the US Ambassador to New Delhi, becoming the first ever Indian-American to hold the post.  46-year-old was sworn in by Secretary of State John Kerry at the State department here.  Verma is scheduled to arrive in India ahead of Kerry's visit to Delhi next month. US President Barack Obama will arrive in late January to attend the Republic Day Parade on January 26 as the Chief Guest.  He was confirmed by the Senate by a voice vote last week.  Verma, who quietly played an important role in the Congressional passage of civil nuclear deal with India, had advocated for strong Indo-US ties when in the administration and recently started "India 2020" project at Ce

Sinking oil: Saudi Schadenfreude

Sinking oil: Saudi Schadenfreude Saturday, 20 December 2014 | Rohit Pattnaik | in Oped Using lowering oil prices as a tool, the Saudis are seeking to arm-twist Russia and Iran for their support of Bashar Assad's regime in the Syrian conflict Daily Pioneer: Leading News paper  Many oil exporting states across the globe that had built their budgets on visions of perennially high oil prices are beginning to press the panic button as oil prices continue to remain well below the fiscal break-even for many of these countries. Many Governments in oil exporting countries will face a difficult time in financing the populist programmes that they need to maintain public support, hence there will be pressure from many OPEC members to curtail production to arrest the decline of oil prices. In the game of oil roulette, the Saudis are unlikely to cut oil production for the simple fact that in the 1980s when they cut production as part of the OPEC cartel, they lost a huge portion of their market s