Showing posts from August, 2013

Major Loss of Confidence Hits Indian Economy

Plummeting Indian rupee is the most obvious symptom of the world losing confidence in India. The crisis of confidence is so great that Jim O'Neill, former Goldman Sachs executive whose BRIC acronym made India an attractive investor destination in 2001,  has recently said that “if I were to change it, I would just leave the "C"" in BRIC. India has long run huge twin deficits . India imports a lot more than it exports, and its government spends a lot more than its revenue receipts. India has so far been able to finance its trade and budget deficits with foreign capital inflows. Such flows have been driven mainly by the easy money policies pursued by the US Federal Reserve and other central banks in Europe and Japan in recent years. Over $170 billion of India's $390 billion foreign debt is due for repayment within a year. India's current foreign exchange reserves are $278 billion , and repaying $170 billion debt will dramatically deplete its reserves causi

With Just 10 Nobel Prizes, Are 1.5 Billion Muslims Really Fratricidal Low Achievers?

Are today's Muslims fratricidal low-achievers? Are Muslims unique in their lack of achievement and propensity for fratricidal violence? Are there other religious and racial groups which share these traits with Muslims? It has become fashionable among Muslims and non-Muslims alike to bash followers of the Islamic faith for their lack of achievement and propensity for fratricidal violence. Some criticize Muslims for having won only 10 Nobel prizes since the prize was launched in 1901. Others lambaste Muslims for killing each other. Let's examine both of these charges in some detail below: Muslims as Low Achievers: Renowned atheist scholar Richard Dawkins has recently disparaged Muslims by pointing out that the entire Muslim world has had fewer Nobels (10) than Cambridge University's Trinity College (32).  He is not alone in attacking Muslims for their lack of achievements; I have heard this from many Muslim critics for many years. What Dawkins and other critics, inc

Pakistan's Top Televangelist Aamer Liaquat Husain Commercializes Eid and Ramadan

"At Christmas there's Santa Claus to give everyone gifts, it's important for Christians. For us Ramadan is a really special time so it's really important to make people happy and reward them." A amer Liaquat Husain, Popular Televangelist and Show Host of Pakistan's GeoTV  Aamer Liaquat Husain's Amaan Ramzan is the highest rated TV show in Pakistan. It attracts sponsor-ships and advertisements from successful companies in Pakistan which are willing to pay top dollars for a slice of its viewers' attention and business. These advertisers see the festive Ramadan and Eid season as crucial to boost their annual profits and sales. Downplaying the commercial success of his show, Aamer Liaquat insists that "it is not commercialization, it is not showbiz. It is real Islam. I am the religious icon of television" according to an AFP report .  Aamer Liaquat's show is no ordinary TV production. The show is set in a massive wedding hall at a K