Financial Crisis – Bhartiyanews24x7

9Oct

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French PM Michel Barnier survives no-confidence vote: Far-right secures fragile government – Times of India

French Prime Minister Michel Barnier (Photo: Reuters) Michel Barnier, France’s new prime minister, survived a no-confidence motion brought by the left-wing opposition on Tuesday, marking the first test for his fragile government in a divided National Assembly. The motion, proposed by the New Popular Front (NFP) coalition, fell well short of the 289 votes needed, with only197 lawmakers in support, as reported by AFP news agency.A defeat for the leftThe no-confidence vote, led by Socialist Party (PS) leader Olivier Faure, sought to remove Barnier's government, which President Emmanuel Macron appointed to restore stability after the inconclusive July elections. Faure admitted defeat, saying, "There was very little suspense," and acknowledged that the French public now had clarity on "who is ...

28Sep

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Opinion

Russia’s geopolitical pivot to Asia, a new India chapter

‘The core feature of today’s geopolitical manoeuvres is that they have both eastern and southern implications’ | Photo Credit: AFP In 2022, Moscow cut its economic ties with Europe and made a U-turn to the Asian countries. As a result of this move, the knot of neoliberal interdependence between Russia and Europe became undone, with costs to the global economy. The need for such a turn was repeatedly proclaimed since the financial crisis of 2007–08 but was ‘adjourned sine die’. For the Russian political leadership, the core motives remained well-established. The country’s economy was closely woven into western markets and financial structures and, therefore, remained susceptible to external shocks resulting from political and ideological confrontations. The core feature of today’s geopoliti...

15Sep

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Politics

PM Modi: After Himachal Pradesh, Haryana may face financial crisis if Congress forms govt | India News – Times of India

KURUKSHETRA/CHANDIGARH: Prime Minister Narendra Modi accused Congress' "royal" Gandhi family of intending to dismantle the reservation system as he officially launched from Kurukshetra on Saturday his campaign for the Haryana assembly elections.PM Modi assured voters that he would safeguard the reservation system. "As long as Modi is here not even an iota of reservation will be touched," he said at a rally in Kurukshetra, also cautioning the state's people that if Congress forms govt the state might face the same financial crisis as Himachal Pradesh which is struggling to pay its employees.He said even the Himachal chief minister and ministers have had to forgo their salaries due to financial difficulties."Congress is a very dishonest party. Congress has only one policy - empty the public ...

11Sep

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Politics

Political furore in Punjab after Mann govt seeks enhancement in borrowing limit, hikes taxes

Last week, the state told the central government that it needs to borrow an additional Rs 10,000 crore over and above the sanctioned limit of Rs 30,465 crore. Last year, Centre cut the state’s borrowing limit after the Mann government failed to reduce losses incurred by Punjab State Power Corporation Ltd. In the post-pandemic period, the Centre has allowed states additional borrowing space, but this was contingent on the states implementing reforms in their power sectors. It is this additional borrowing amount that was reduced for Punjab, since the reforms were not carried out in their entirety.Presenting the annual budget in March, state finance minister Harpal Cheema had projected Punjab’s debt to touch Rs 3.74 lakh crore at the end of this fiscal year, more than 46 percent of the state’...

30Aug

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Politics

SpiceJet To Send 150 Cabin Crew Members On Leave Without Pay For 3 Months Amid Financial Crisis

Facing financial headwinds, SpiceJet has decided to furlough 150 cabin crew members for three months. The budget carrier is operating with a reduced number of planes amid financial, legal and lessor woes. Currently, it has an operational fleet of around 22 aircraft. A total of 150 cabin crew members will be sent on leave without pay for three months, an airline spokesperson said on Thursday. Earlier in the day, aviation regulator DGCA said the airline has been placed under enhanced surveillance. "SpiceJet has made the difficult decision to temporarily place 150 cabin crew members on furlough for three months. This step has been taken in response to the current lean travel season and the reduced fleet size, with the long-term stability of the organisation in mind," the spokesperson said in ...