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The March of the Folly Revisited?

Last week ended with general confusion about the seemingly perilous status of Greek debt negotiations. Paul Krugman had an interesting post, here, earlier in the week in which he asked if the impasse between Greece and its creditors reflects a "bring it on" mentality reminiscent of the rush to war in August 1914. Populations whipped up by war fever thought only of the glories of war and not the gore and suffering of the battlefield. It would be a short, decisive campaign they thought. The problem is that both sides held that view; too few shared Lord Grey’s melancholic assessment: “The ...

Premier Explosives surges 16% after getting licence for defense products

Shares of Premier Explosives surged as much as 15.91 per cent in intraday trade on Friday as the company received Industrial License from the Department of Industrial Policy and Promotion (DIPP), for defense products, flexible liner shape charge, explosives reacting armour and single base propellant. Last month, the company had received license from DIPP for manufacturing of ammunition such as 40 mm and above caliber rockets and missiles, cartridge explosives, mines related to defence a .. ...

India proposes gold-linked bonds to lower bullion imports | Reuters

MUMBAI India is planning to issue sovereign bonds linked to the bullion price in an effort to divert some of the estimated 300 tonnes of annual demand for gold bars and coins and curb bullion imports, which can push up the trade deficit. The Reserve Bank of India, the central bank, will issue the bonds on behalf of the government, with a minimum interest rate of 2 percent, according to a draft outline issued by the government late on Thursday. "The main idea is to reduce the demand for physical gold," according to the draft. Indians prize gold as gifts and as a way of storing wealth. ...

E-comm startup valuations very high but youngsters should be given a chance: Ratan Tata

Mumbai - Stating that startups in e-commerce segment are asking for too high a price for parting stakes, Tata Sons Chairman Emeritus Ratan Tata on Thursday took a dig at the fledgling sector, saying "valuations" and not "evaluations" are driving the play. "It's true that the valuations (of e-commerce) are very high and valuation seems to be driving these companies more than traditional matrix of evaluation," Tata said at the 107th Annual General Meeting of Indian Merchants' Chamber. Ratan Tata. AFP Ratan Tata. AFP Interestingly, Tata's personal investment portfolio comprises equity i...

Jitender Tomar’s migration certificate verified, found to be fake: Delhi Police

The Delhi Police team, in presence of university officials and Tomar, verified the migration certificate and it was also found to be fake, said a senior police officer. Now, Tomar will be brought back to Delhi for further questioning and will be interrogated in presence of his brother who had allegedly helped him in procuring his fake academic documents, the officer said. "Tomar is not cooperating in investigation although he has been nailed by us. We will grill him in front of his brother and will cross check their statements. Role of his brother was found in procuring fake degrees," th...

Smriti Irani’s degrees should be probed: PM Modi’s brother

rahlad, vice-president of All India Fair Price Shop Dealers' Federation (AIFPSDF), said this while interacting with reporters in Ghaziabad. "Just as degrees of AAP MLA and former Delhi Minister Jitender Singh Tomar are being verified, a probe should be carried out into Union HRD Minister Smriti Irani's degrees," he said. AAP and Congress have been demanding the Centre to probe the charges of false educational qualification against Irani....

Delhi Police set to file chargesheet against Kejriwal, 20 other AAP MLAs

Kejriwal has been named in 6 cases out of 25 cases in which the police is filing the chargesheet. The police is also probing two other cases against Kejriwal, according to The Times of India. The report added that the cases against the Delhi CM involve holding protests despite prohibitory orders and preventing public servants from performing their duty. These charges against Kejriwal come at a time when the Delhi CM and Delhi Lieutenant-Governor Najeeb Jung were in the middle of a power tussle over the appointment of bureaucrats in the state....