US economy scored robust growth in 4th quarter
The US economy grew at a robust annual rate of 3.2 percent in the fourth quarter despite the partial government shutdown in October, according to Commerce Department data released yesterday.
Growth in gross domestic product was led by pick-up in exports and a strong acceleration in consumer spending, the main driver of the US economy.
Most analysts had penciled in 3.0 percent GDP growth in the October- December quarter, following the 4.1 percent pace in the third quarter.
Global piracy drops due to clampdown on Somali pirates: IMB
Piracy at sea has reached its lowest levels in six years, with 264 attacks recorded worldwide in 2013, a 40 percent drop since Somali piracy peaked in 2011, the International Chamber of Commerce (ICC) International Maritime Bureau (IMB) revealed on January 15. Just 15 incidents were reported off Somalia in 2013, down from 75 in 2012, and 237 in 2011.
IMB’s annual global piracy report shows more than 300 people were taken hostage at sea last yea...
IMB’s annual global piracy report shows more than 300 people were taken hostage at sea last yea...
India, Pakistan to allow greater trade through land route
India and Pakistan agreed on Saturday to allow round-the-clock movement of trucks and containers through their main border crossing, signalling a thaw in relations after a year's standoff over military tensions on the border.
Trade ministers of the two countries meeting in New Delhi also approved a liberalised visa policy for businessmen to help expand two-way trade, which was barely $2.5 billion in 2012/13 fiscal year against a potential $10 billion.
Both sides hope closer integration of Pakistan w...
Both sides hope closer integration of Pakistan w...
US House set to pass $1.1 trillion budget bill
The Republican-led US House of Representatives is set on Wednesday to pass a bipartisan $1.1 trillion spending bill that would pay for the government’s operations through October and finally put to rest the bitter budget battles of last year.
The massive measure fills out the details of the budget deal that Congress passed last month after a disastrous 16-day government shutdown in October. That deal gave relatively modest relief to the Pentagon and domestic agencies after deep budget cuts last year.
Diplomat row: Delhi says ‘no stand-off’ with US
India’s Foreign Minister Salman Khurshid has sought to downplay the row with Washington over an Indian diplomat who was arrested in the US.
There was “no stand-off” with the US, he told reporters in Delhi, and predicted problems would be sorted out, reports BBC.
The row erupted after the diplomat, Devyani Khobragade, was arrested in New York on charges of visa fraud and underpaying her housekeeper.
She is now back in India after an apparent agreement with Washington.
“If there are any is...
She is now back in India after an apparent agreement with Washington.
“If there are any is...
Devyani indicted in US visa row
The Indian diplomat Devyani Khobragade, whose arrest in the US sparked protests from India, has been formally indicted by a US grand jury.
However, prosecutors said that Devyani, 39, had also been granted immunity and that US officials had asked her to leave the country, reports BBC.
Prosecutors initially said she had already left but were later told by her lawyer that she was still in the US.
