Tag Archives: dollar

China’s yuan gains IMF reserve status

The International Monetary Fund (IMF) has announced that China’s currency, the yuan, will join the fund’s basket of reserve currencies.

Currently just the US dollar, the euro, the yen and the pound are in the group.

The IMF said the yuan “met all existing criteria” and should become part of the basket in October 2016.

The yuan will now make up part of the IMF’s Special Drawing Rights (SDR) – an asset created by the IMF which serves almost as a currency.

It is used for transactions between central banks and the IMF, and is used to decide the currency mix that countries like Greece, for example, receive when the IMF provides financial aid.

The last change made to the basket was in 2000, when the euro replaced the German mark and the franc.

Read more » BBC
See more »  http://www.bbc.com/news/business-34957580

Canadian dollar drops to lowest level since 2004

‘The downside could be enormous from here. There is no reason why it can’t fall much farther’

By Pete Evans

The Canadian dollar dropped to levels not seen since 2004 on Wednesday.

The loonie closed at 76.70 cents against the U.S. dollar, according to the Bank of Canada, down 0.53 cents. That’s lower than the 76.85 cents the loonie closed at on March 9, 2009, more than six years ago. The loonie hasn’t been this low since September 2004, almost 11 years ago, when it touched the 75 cent level.

Read more » CBC
Learn more » http://www.cbc.ca/news/business/canadian-dollar-drops-to-lowest-level-since-2004-1.3163316

Russian Rouble falls further

UPDATE 3-Rouble falls further as central bank seen intervening

Rouble has tumbled more than 40 percent vs dollar in 2014

* Central bank seen intervening on Friday to halt slide

* Rosneft’s dollar buying adds pressure – traders (Updates prices, adds extension of FX swap limit)

By Vladimir Abramov and Vladimir Soldatkin

MOSCOW, Dec 12 (Reuters) – The Russian rouble dropped to a new low of almost 58 to the dollar, continuing a slide that traders said led the central bank to intervene in the market on Friday after a rate hike failed to break the currency’s fall.

Read more » REUTERS
See more » http://www.reuters.com/article/2014/12/12/russia-rouble-idUSL6N0TW0KE20141212

Canadian dollar sinks

 

Weaker loonie won’t save Canada’s low-skilled manufacturing sector, top economist says

By Greg Quinn, Bloomberg News

Canadian makers of goods such as dishwashers shouldn’t look to a depreciation of the nation’s currency to save their businesses, said Carl Weinberg, chief economist at High Frequency Economics.

Parts of Canada’s manufacturing industry will be wiped out by lower-cost Asian rivals, according to Weinberg, who said the country doesn’t have any competitive advantage when it comes to the business of bolting together cars and appliances from imported kits.

Read more » Financial Post
See more » http://business.financialpost.com/2014/10/02/weaker-loonie-wont-save-canadas-low-skilled-manufacturing-sector-top-economist-says/

Ruble Challenges US Dollar Hegemony.

Russia’s Petro-Ruble Challenges US Dollar Hegemony. China Seeks Development of Eurasian Trade
China will re-open the old Silk Road as a new trading route linking Germany, Russia and China

By Peter Koenig, Global Research

Russia has just dropped another bombshell, announcing not only the de-coupling of its trade from the dollar, but also that its hydrocarbon trade will in the future be carried out in rubles and local currencies of its trading partners – no longer in dollars – see Voice of Russia Russia’s trade in hydrocarbons amounts to about a trillion dollars per year. Other countries, especially the BRICS and BRCIS-associates (BRICSA) may soon follow suit and join forces with Russia, abandoning the ‘petro-dollar’ as trading unit for oil and gas. This could amount to tens of trillions in loss for demand of petro-dollars per year (US GDP about 17 trillion dollars – December 2013) – leaving an important dent in the US economy would be an understatement.
Added to this is the declaration today by Russia’s Press TV – China will re-open the old Silk Road as a new trading route linking Germany, Russia and China, allowing to connect and develop new markets along the road, especially in Central Asia, where this new project will bring economic and political stability, and in Western China provinces, where “New Areas” of development will be created. The first one will be the Lanzhou New Area in China’s Northwestern Gansu Province, one of China’s poorest regions.

“During his visit to Duisburg, Chinese President Xi Jinping made a master stroke of economic diplomacy that runs directly counter to the Washington neo-conservative faction’s effort to bring a new confrontation between NATO and Russia.” (press TV, April 6, 2014)

“Using the role of Duisburg as the world’s largest inland harbor, an historic transportation hub of Europe and of Germany’s Ruhr steel industry center, he proposed that Germany and China cooperate on building a new “economic Silk Road” linking China and Europe. The implications for economic growth across Eurasia are staggering.”

Read more » Global Research
http://www.globalresearch.ca/russias-petro-ruble-challenges-us-dollar-hegemony-china-seeks-development-of-eurasian-trade/5377086

New French president to limit CEO pay at state owned businesses

by

François Hollande’s 75% tax rate is still going to struggle due to the ease of moving out of France (or any country besides the US) but bringing a dose of fairness is going to be much easier. There will be plenty of complainers who will suggest how difficult it will be to attract top talent but there is even more evidence that shows paying top dollar (or euro) does nothing to attract top talent.

For years we have seen one company after another bump up pay to attract the next Steve Jobs or whatever other CEO of the day is being described as the greatest leader ever. The reality is there was only one Steve Jobs. The others command superstar pay but more often than not, they under-deliver. (We only need to look at Bankia as one recent example.) They’re always billed as the leader who will take the business to the next level, but the only thing going to the next level will be the executive pay.

Since Hollande is a Socialist, this change will no doubt trigger a storm of criticism and howling from the so-called free market “capitalists.” As in the same free market capitalists who all thought it was important to bail out the lifestyles of the bankers and keep the quantitative easing policies that have been all about free money for bankers to gamble. There hasn’t been anything close to a free market or raw capitalism for years so spare me any arguments about socialism. We’ve had it and it has been socialism for the 1%.

If we are ever going to bring some balance back to society, we’re going to need a lot more action like this. We’ve tried excessive CEO pay and it simply does not provide an acceptable ROI. More on fat cat pay from The Guardian:

Read more » America Blog
http://americablog.com/2012/05/new-french-president-to-limit-ceo-pay-at-state-owned-businesses.html

Commentary: U.S. fiscal failure warrants a de-Americanized world

By Xinhua writer Liu Chang

BEIJING, Oct. 13 (Xinhua) — As U.S. politicians of both political parties are still shuffling back and forth between the White House and the Capitol Hill without striking a viable deal to bring normality to the body politic they brag about, it is perhaps a good time for the befuddled world to start considering building a de-Americanized world.

Emerging from the bloodshed of the Second World War as the world’s most powerful nation, the United States has since then been trying to build a global empire by imposing a postwar world order, fueling recovery in Europe, and encouraging regime-change in nations that it deems hardly Washington-friendly.

With its seemingly unrivaled economic and military might, the United States has declared that it has vital national interests to protect in nearly every corner of the globe, and been habituated to meddling in the business of other countries and regions far away from its shores.

Meanwhile, the U.S. government has gone to all lengths to appear before the world as the one that claims the moral high ground, yet covertly doing things that are as audacious as torturing prisoners of war, slaying civilians in drone attacks, and spying on world leaders.

Under what is known as the Pax-Americana, we fail to see a world where the United States is helping to defuse violence and conflicts, reduce poor and displaced population, and bring about real, lasting peace.

Moreover, instead of honoring its duties as a responsible leading power, a self-serving Washington has abused its superpower status and introduced even more chaos into the world by shifting financial risks overseas, instigating regional tensions amid territorial disputes, and fighting unwarranted wars under the cover of outright lies.

As a result, the world is still crawling its way out of an economic disaster thanks to the voracious Wall Street elites, while bombings and killings have become virtually daily routines in Iraq years after Washington claimed it has liberated its people from tyrannical rule.

Continue reading Commentary: U.S. fiscal failure warrants a de-Americanized world

China’s Official Press Agency Calls For New Reserve Currency, And New World Order

by Tyler Durden

We assume it is a coincidence that on the day in which we demonstrate China’s relentless appetite for gold, driven by what we and many others believe is the country’s desire to have a call option on a gold-backed reserve currency when the time comes, just posted in China’s official press agency, Xinhua, is an op-ed by writer Liu Chang in which he decries the “US fiscal failure which warrants a de-Americanized world” and flatly states that the world should consider a new reserve currency “that is to be created to replace the dominant U.S. dollar, so that the international community could permanently stay away from the spillover of the intensifying domestic political turmoil in the United States.”

Of course, if China were serious, and if the world were to voluntarily engage in such a (r)evolutionary reserve currency transition ….

Read more » Zerohege,com
http://www.zerohedge.com/news/2013-10-13/chinas-official-press-agency-calls-new-reserve-currency

India gripped by mood of crisis as rupee falls again

By James Crabtree in Mumbai and Victor Mallet in New Delhi

The Indian rupee fell to a new low against the dollar on Wednesday and stocks declined after a central bank promise to inject liquidity into the country’s financial markets provided only temporary relief from a deepening sense of crisis….

Read more » Financial Times
http://www.ft.com/cms/s/0/af335904-0a21-11e3-aeab-00144feabdc0.html#axzz2ceOcBPBJ

Bitcoin Boom? US fears digital currency may hit dollar demand

The US is becoming increasingly concerned over virtual currencies, launching broad investigations into Bitcoin and the likes. The online currency has won official recognition with a US federal judge ruling it is real money. A Texas man, being tried for laundering billions of dollars using the Bitcoin system, challenged the court by saying bitcoins were virtual and couldn’t be the basis for a fraud charge. He failed. RT’s Peter Oliver went to meet those who have no doubt bitcoin has real value.

Courtesy: – RT

Canadian dollar falls after highest job losses since recession 4 years ago

Canadian Dollar Tumbles After Unexpected March Employment Loss

By Ari Altstedter

The Canadian dollar fell in its biggest decline in nine months against its U.S. peer after the nation unexpectedly lost jobs last month by the most since the last recession four years ago.

The currency declined against 13 of its 16 major peers as Canada had 54,500 fewer jobs in March, compared with the 6,500 gain predicted in the median estimate of a Bloomberg survey of 24 economists. The nation’s jobless rate increased to 7.2 percent from 7 percent. The U.S. added 88,000 jobs in March, versus estimates of a 190,000 gain. The Bank of Canada’s March 6 policy statement called for the economy to “pick up through 2013” on its way to 2 percent annual growth.

“Huge miss on both numbers, but particularly the Canadian number after many months of surprisingly strong employment data, we’ve finally seen some give back, so pretty swift reaction for the Canadian dollar,” said Blake Jespersen, managing director of foreign exchange at Bank of Montreal, by phone from Toronto. “There’s a lot more room for this to run, I think this is just the beginning of what could be a series of weaker employment numbers in Canada.”

The loonie, as the Canadian dollar is known for the image of the C$1 coin, fell 0.5 percent to C$1.0176 at 5 p.m. in Toronto. Earlier, it fell 1.1 percent to C$1.0236 per U.S. dollar, the largest drop since June 28. One loonie buys 98.27 U.S. cents.

Bonds Gain

Canada’s benchmark 10-year government bonds rose, with yields falling four basis points or 0.04 percentage point to 1.75 percent, touching the lowest level since Dec. 11. The 1.5 percent security maturing in June 2023 rose 36 cents to C$97.68.

Crude oil, the country’s biggest export, fell 0.3 percent to $93.02 per barrel in New York, after touching its lowest point since March 7. The Standard & Poor’s 500 Index of U.S. stocks fell 0.4 percent.

Canada’s jobs figures brings the labor market more in line with other parts of the economy, where output growth slowed to a 0.6 percent annualized pace in the fourth quarter and inflation has lagged the central bank’s 2 percent target since May. Last month’s figures mean Canada posted a net loss of 25,700 jobs in the first three months of the year.

’Ugly Across’

“It was ugly across the board, there wasn’t one redeeming feature for the Canadian employment report,” said Mark Frey, chief market strategist at Cambridge Mercantile Group, a corporate currency broker, by phone from Victoria British Columbia. “When you look at the overall employment figures for Q1 in Canada, you’re seeing a pretty bleak outlook that has turned almost on a dime from the last five months of 2012.”

A separate report showed Canada recorded its 11th straight merchandise trade deficit in February, the longest streak in at least 25 years, with the shortfall unexpectedly widening as exports of metals declined.

The deficit of C$1.02 billion ($1 billion) followed a January figure that was revised to C$746 million from C$237 million, Statistics Canada said today in Ottawa. Economists surveyed by Bloomberg forecast the string would end with a C$100 million surplus, based on the median of 21 forecasts.

“Obviously disappointment on both sides of the border,” said David Tulk, chief macro strategist at Toronto-Dominion Bank (TD)’s TD Securities unit by phone from Toronto. “The labor market is sort of catching up to the wider economic backdrop that we’ve always argued is still quite subdued, so this helps a little bit.” ….

Read more » Bloomberg
http://www.bloomberg.com/news/2013-04-05/canadian-dollar-extends-loss-after-unexpected-march-jobs-decline.html

CBC News – Canada loses 54,500 jobs in March

Jobless rate ticks higher to 7.2% as private-sector hiring slumps

By CBC News

Canada’s economy lost 54,500 jobs in March, bleak new data from Statistics Canada showed Friday.

That’s the worst month for Canadian employment since the recession of 2009. When added to the numbers for January and February, they show that Canada’s economy has lost 26,000 jobs so far in 2013 as a whole

The job losses pushed Canada’s jobless rate higher to 7.2 per cent.

“Official unemployment would have increased even more but for 12,300 Canadians dropping out of the labour force altogether and consequently not being counted as unemployed,” United Steelworkers economist Erin Weir said of the data.

Provincially, Quebec, British Columbia and Alberta lost jobs, and employment edged down in Ontario. The only province with an increase was Nova Scotia.

Loonie sinks on news

Private sector hiring, the engine of growth that policymakers keep a close eye on, actually fared even worse. There were 85,000 fewer private sector workers in March, while the public sector was largely unchanged,

There was an increase of 39,000 among self-employed people that counteracted the decline.

Overall, economists had been expecting about 6,500 new jobs, so a loss of 54,500 represents a considerable miss.

Much of the losses came among those in the core working-age group of those between 25 and 54. Among those younger than 25 and older than 54, the job numbers were pretty steady.

The Canadian dollar lost half a cent to trade below 98 cents US in reaction to the news.

Courtesy: CBC News
http://www.cbc.ca/news/canada/story/2013/04/05/business-jobs-canada.html

The Future of History – By Francis Fukuyama

Can Liberal Democracy Survive the Decline of the Middle Class?

Stagnating wages and growing inequality will soon threaten the stability of con­temporary liberal democracies and dethrone democratic ideology as it is now understood. What is needed is a new populist ideology that offers a realistic path to healthy middle-class societies and robust democracies.

Something strange is going on in the world today. The global financial crisis that began in 2008 and the ongoing crisis of the euro are both products of the model of lightly regulated financial capitalism that emerged over the past three decades. Yet despite widespread anger at Wall Street bailouts, there has been no great upsurge of left-wing American populism in response. It is conceivable that the Occupy Wall Street movement will gain traction, but the most dynamic recent populist movement to date has been the right-wing Tea Party, whose main target is the regulatory state that seeks to protect ordinary people from financial speculators. Something similar is true in Europe as well, where the left is anemic and right-wing populist parties are on the move.

There are several reasons for this lack of left-wing mobilization, but chief among them is a failure in the realm of ideas. For the past generation, the ideological high ground on economic issues has been held by a libertarian right. The left has not been able to make a plausible case for an agenda other than a return to an unaffordable form of old-fashioned social democracy. This absence of a plausible progressive counter­narrative is unhealthy, because competition is good for intellectual ­debate just as it is for economic activity. And serious intellectual debate is urgently needed, since the current form of globalized capitalism is eroding the middle-class social base on which liberal democracy rests.

THE DEMOCRATIC WAVE

Social forces and conditions do not simply “determine” ideologies, as Karl Marx once maintained, but ideas do not become powerful unless they speak to the concerns of large numbers of ordinary people. Liberal democracy is the default ideology around much of the world today in part because it responds to and is facilitated by certain socioeconomic structures. Changes in those structures may have ideological consequences, just as ideological changes may have socioeconomic consequences

Read more »Foreign Affairs

http://www.foreignaffairs.com/articles/136782/francis-fukuyama/the-future-of-history

US puts $10 million bounty on Lashkar-e-Taiba’s Hafiz Saeed Jamaat-ud-Dawa group

By AFP

ISLAMABAD — A man with a $10 million US government bounty on him might be expected to have gone into hiding, but Hafiz Mohammad Saeed is one of Pakistan’s most high-profile and outspoken Islamists. ….

Read more » google

Pakistani intelligence secretly funneled at least $4 million to a Washington lobby group whose leaders improperly lobbied U.S. officials over Kashmir

Pakistan funded Washington lobby group, U.S. says

Washington (CNN) — Pakistani intelligence secretly funneled at least $4 million to a Washington front group whose leaders improperly lobbied U.S. officials over the disputed territory of Kashmir, federal agents alleged Tuesday.

A Pakistani-American man who served as director of the Kashmiri American Council is in federal custody, while a second man accused of steering money to the organization is believed to be in Pakistan, the Justice Department said. The KAC director, Syed Ghulam Nabi Fai, “acted at the direction and with the financial support of the government of Pakistan for more than 20 years,” an FBI arrest affidavit states.

One U.S. congressman quickly gave $4,000 donated by the two men charged in the case to charity, while another said he would consider a similar move if the source of the money was in question.

Fai and his co-defendant, Zaheer Ahmad, have been charged with conspiring to violate the Foreign Agents Registration Act, which requires lobbyists acting on behalf of another nation to register with the U.S. government. The charge carries a possible prison term of up to five years. ….

Read more → CNN

Man robs bank for $1

By Gaby Leslie

A video has surfaced of an American man admitting how he robbed a bank for $1 (60p) so he could go to jail and receive free medical treatment.

James Verone, of Gastonia, North Carolina, was so desperate to get help for a bad back, foot and growths on his chest that he made the calculated decision to stage the unusual robbery.

The unemployed 59-year-old, who cannot afford health insurance, told a reporter how he walked up to the cashier and handed a bizarre note demanding just one dollar from her.

The note also said he was armed, but in fact he wasn’t. The suffering man then said that he purposely sat on the couch in the RBC bank to wait for the police to arrest him.

Read more: Yahoo News

The hornet is dead, near the nest – Dr Mohammad Taqi

The Pakistani brass was caught red-handed and was not given an option to say no to the operation. But the Pakistani deep state still does not get it, for its ideological sympathies are elsewhere.

Doveryai, no proveryai! This Russian proverb, meaning ‘trust, but verify’, popularised by Vladimir Lenin and later by Ronald Reagan, has not rung truer than in the events surrounding the assassination of Osama bin Laden (OBL) earlier this week. And we may see it applied much more intensely in the months to come.

Phone calls from friends in Abbottabad about an ongoing military action there, were enough to suggest that something big was happening in what the locals had always believed to be an ISI-run facility, but the e-mail news alert from The Wall Street Journal announcing OBL’s death was still a major surprise. Against the norms of punditry, this time one hoped that we were wrong and this was not happening in Pakistan. But it was, and yes, we now stand vindicated: all of us who had been saying and writing for years that the US’s most wanted man was not under the protection of any major Pashtun tribe but was guarded by the clan that has anointed itself as the guardians of Pakistan’s ‘ideological’ and geographical frontiers. It is this same clan that had actually codified in its curriculum that “you are the selected lords; you are the cream of the nation”. Where else could this syllabus have been taught but at the Pakistan Military Academy, Kakul — less than a mile from OBL’s last lair?

There is no polite way of saying it but these masters of Pakistan’s fortunes got egg on their face and that too with the whole world watching. A Peshawarite calling in on a television show said it most aptly: “Koilay ki dallali mein haath to kalay hotay hein per moonh bhi kala hota hai” (Those, whose business is foul, not only get their hands dirty but a blackened face too). But they still have the nerve to say with a straight face that a million-dollar fortress under their nose had been “off their radar”!

Not only that but they also have the gall to mobilise the right-wing media to create the smokescreen of sovereignty yet again while simultaneously playing up their ‘role’ in support of the US action in Abbottabad. The world, however, is not buying that in a cantonment city, the army — which keeps track of every inch of land around its facilities — did not know what was going on in the high-walled compound next to its primary training academy. The paid spin masters will have to do better than this. No matter what President Asif Zardari or his ghostwriter is made to say in op-ed articles in US papers, it is the top brass that is under scrutiny. Using the civilian political leadership as the human shield is not going to work, as the calculus has changed dramatically.

Barack Obama’s token acknowledgment of Pakistan’s non-specific cooperation is being construed by the Pakistani establishment and its minions to imply that the US can be taken for a ride again. It is too early for the specifics to surface but conversations with several sources in Washington and Pakistan point only to the deep mistrust that the US has had vis-à-vis Pakistan. There was no deal initiated by General Shuja Pasha to ‘trade in’ OBL for a bigger Pakistani role in Afghanistan. On the contrary, in response to the chest thumping by the Pakistani security establishment and its ultra right-wing political acolytes, they were confronted with damning evidence about the Haqqani network and possibly the Quetta Shura, while the OBL lead was not shared. The no-fly zone over Pakistan was created through phone calls, minutes after the OBL operation got underway. While the Pakistani brass is clutching at straws like blaming the ‘two Pashtun guards’ for protecting OBL’s compound, it was caught red-handed and was not given an option to say no to the operation. But the Pakistani deep state still does not get it, for its ideological sympathies are elsewhere.

Hillary Clinton’s nuanced diplomatic statements notwithstanding, the mood of the US leadership is almost reflective of the immediate post-9/11 days and was conveyed well by Senator Carl Levin in his remark: “(Pakistan has) a lot of explaining to do … I think the army and the intelligence of Pakistan have plenty of questions that they should be answering.” In a complete paradigm shift, any leverage that the Pakistani junta was hoping to gain from the bravado that started with the Raymond Davis affair has been lost completely. What will follow is a steady demand within the US to hold Pakistan’s feet to the fire. While maintaining a semblance of a working relationship, a very tough line will be adopted in private. The question bound to come up is not just why Pakistan was hanging on to OBL but also if there was any connection of its operatives to the 9/11 tragedy.

From a tactical standpoint, the OBL operation is likely to serve as a template for future action against the jihadist leadership hiding in Pakistan, especially with General David Petraeus assuming his new role in the near future. To get closer to the strategic objective of a certain level of stability within Afghanistan and potentially a political reconciliation there, it is imperative for the US to neutralise the next two key hurdles, i.e. the Quetta Shura and the Haqqani network. Both these entities have so far been able to evade the US’s reach, thanks to the Pakistani security establishment’s patronage.

Members of the Haqqani clan have been roaming freely in the vicinity of Islamabad, Rawalpindi and Peshawar. Khalil Haqqani has conducted several meetings in the previous few months to broker the ‘peace deal’ for the Kurram Agency. It is inconceivable that he could act without the knowledge of the Pakistani security agencies. Similarly, Quetta is home to the Pakistan Army’s XII Corps, ISI regional headquarters, the Balochistan Frontier Corps, an army recruitment centre, the Pakistan Air Force base Samungli and the Pakistan Army’s prestigious Command and Staff College. One wonders if the Pakistani brass would still be able to say that they do not know the whereabouts of Mullah Omar.

A window of opportunity perhaps still exists for Pakistan to make a clean break with the past but its incoherent blame-game and constantly changing story says otherwise. The Pakistani establishment has given the world very little reason to trust it without verifying — unless, of course, another hornet is to be missed hiding near a major nest.

The writer can be reached at mazdaki@me.com

Courtesy: Daily Times

http://www.dailytimes.com.pk/default.asp?page=201155\story_5-5-2011_pg3_2

Somali pirate offers to release Danish family in exchange for hand of daughter, 13

By Daily Mail Reporter

Life can be lonely on the high seas and one pirate has decided enough is enough, it’s about time he got himself a wife.

But the Somali pirate chief has taken a fancy to his 13-year-old Danish hostage – and he is so besotted with her he’s willing to let the rest of her family go free, and even forget the $5 million dollar ransom his pirate colleagues demanded.

According to The Times, the pirate made the bizarre proposal during a conversation with a Danish reporter, who visited the African nation to track down the Johansen family who were taken hostage in the Indian Ocean more than a month ago.

Read more : Mail Online

Would GEO and Express TV disclose how much money they get from Americans?

By Farrukh Siddiqui
Editor, State of Pakistan blog
One of the objectives of Kerry-Lugar aid bill for aid to Pakistan is to “support for promotion of a responsible, capable,and independent media.”
According to this RT TV broadcast of March 10, 2010, http://www.youtube.com/watch?v=2UQCki_nC9c ,  the US government planned to spend $50 million on this objective. According to another report  dated Feb. 27, 2010 by the examiner , “the Obama administration plans to spend nearly $50 million on Pakistani media this year to reverse anti-American sentiments and raise awareness of projects aimed at improving quality of life, confirms a Washington insider. “
The history of collaboration between the agencies of the US government and some “ independent “ Pakistani media organizations is old. But more recently it was GEO TV that went public with jointly produced programs with Voice of America.
The following press release  dated Nov. 13, 2005 ( http://islamabad.usembassy.gov/pakistan/h05111301.html) of the US Embassy in Islmamabad is self-explanatory:
VOA Launches Urdu TV For Pakistan

11/13/2005 Washington, D.C. – The Voice of America (VOA) will launch Beyond the Headlines-its new television program in Urdu-on Monday, Nov. 14. The half-hour program will air on GEO TV in Pakistan at 7:30 p.m. Monday through Friday and on selected international satellites, including AsiaSat (Virtual Channel 409) and IOR (Virtual Channel 420). …..

Read more : http://www.yousufnazar.com/?p=1219

The Past and Future of Pakistan

…. Pakistan is in danger of turning into a toxic ‘jelly state’, a quivering country that will neither collapse nor stabilize.

By M J Akbar
Any crisis breeds Cassandras, and there are enough floating around on the wide world of the web, predicting the disintegration, or worse, of Pakistan. They, however, underestimate the determination of those Pakistanis who want to save their nation from Maududi-Zia Islamists. Urban Pakistan – what might be called Jinnah’s Pakistan – proves a powerful counterweight to the fundamentalists, its will bolstered by domestic military muscle and America’s dollar power. …

Read more: The Times of India

Sweden considering $300m investment in Sindh

* Areas of interest include solar and wind energy, technical education, tourism, industries, agriculture, public-private partnership, livestock and fisheries

KARACHI: Swedish government is exploring the potential of investment in various areas of Sindh intends to put in $300 million.

The head of Swedish trade delegation and Minister of Trade Ewa Bjorling said that her delegation’s visit to Pakistan is to explore the possibilities of investment as Sweden government intends to invest $300 million in Pakistan. …

Read more : Daily Times

Bharat Mahan : The Most Corrupt nation on this planet, say Jay Hind

$1.5 Trillion of India’s stolen money: Swiss Banking Association
Transparency International and the Freedom Foundation ignore the blatant and egregious theft of money from official coffers of the Government of India. The Most Corrupt nation on this planet Bharat (aka India).

Swiss Banking Association report, details bank deposits in the territory of Switzerland by nationals of following countries:

Top five: India—- $1,456 billion (Public loot since 1947), Russia —$ 470 billion, UK ——-$390 billion, Ukraine – $100 billion, China —–$ 96 billion

According to Global Financial Integrity Indian politicians, IAS, IRS, IPS and people from entertainment and sports industry have deposited $ 325 billion in last five years in Swiss accounts (say Jay Hind).

This may be the picture of deposits in Swiss banks only. What about other international destinations? There are presumably more than 70 Tax havens in the world. Indian wealth could be more in Switzerland and various British /US islands. At least forty countries market themselves aggressively as tax havens.

After Bharat mahan the second best Russia has 4 times lesser deposit in Swiss accounts. US is not even there in the counting in top five !! India has more money in swiss banks than all the other countries combined.

Interestingly Swiss government agreed to disclose the names of the account holders only if the respective governments formally asked for it but Indian govt. is not asking for the details. Annually more than 100,000 Indians travel to Switzerland, of whom 35,000 travel very frequently.

A few corrupt Indians have 1.5 trillion dollars of black money on other hand daily 3000-4000 children die from malnutrition in India and 1000 pregnant women die every day in India (say Jay Hind). More than 70% of population is anemic (In simple maths after 50 years there will be no Indian in India.) India got the gold medal in black money but they are competing with Angola and Congo in GHI (global hunger Index).

Chennai, The Switzerland government has not received any request from the Indian government for sharing the names of tax evaders who have stashed away their illicit money in Swiss banks, the Swiss Ambassador to India Philippe Weiti said Wednesday. …

Read more : Wichaar

More details : BBC urdu