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ZODIAC

  1. RBI has increased repo rate by aggregate of 140 basis points since it started its rate hike cycle in May
  2. Analysts say opposition has every right to challenge the legitimacy of a government as long as there is no horse-trading involved
  3. Boris Johnson has ditched legal restrictions in England, saying that, while the pandemic was not over, Britain needs to learn to live with COVID
  4. Kabir Khan’s latest directorial 83 based on the Indian cricket team’s 1983 world cup win received rave reviews upon its theatrical release on December 24 but turned out to be a major disaster at the box office. The film has joined the Rs 100 Crore Club but it wasn’t enough considering the massive budget of the film. 83 is now reported to be the biggest flop in terms of losses beating Bombay Velvet. In a recent interview, Kabir Khan has defended the poor box office collection of his film and has even called the reporting of the film’s collection by trade analysts “unprofessional”. View the full article
  5. The local currency saw highly volatile moves this week, and hit an all-time low of 169.12 on Wednesday
  6. The central bank is expected to start monetary tightening by the first quarter of next year
  7. On Tuesday, January 19, 2021, the Indian cricket team did the unthinkable when they not only managed to defeat the mighty Australian side in a four-match Test series for a second consecutive time, but also did so at the Gabba, a stadium where the hosts hadn’t lost a single Test match in the past three decades. CHAMPIONS #TeamIndia pic.twitter.com/hintWt3MEe — BCCI (@BCCI) January 19, 2021 The most commendable quality of this Indian roster was that it continued fighting against all odds, going toe to toe with the rivals, who were at full capacity, even after losing some of our top-tier players one after another. Names like Virat Kohli, Mohammed Shami, Ravichandran Ashwin, Ravindra Jadeja and Jasprit Bumrah kept getting struck off from Team India’s potential Playing XI list as the series progressed, either due to personal reasons or injuries. Look away, India fans #AUSvIND https://t.co/KIHgW6U2w2 pic.twitter.com/QN6IVSSW6K — Cricbuzz (@cricbuzz) December 19, 2020 The Men in Blue endured the losses and strived to achieve an agreeable outcome. In the end, the outcome was that India went 2-1 against the Aussies Down Under and retained the Border Gavaskar Trophy in a dominating fashion. Honestly, not a lot of fans or analysts could have expected such an epic conclusion to India’s struggling adventure in Australia and there were some legends of the game, who went all out on calling the series against the Men in Blue. Here are five comments made by cricket legends that backfired after India won the Border-Gavaskar Trophy 2020-21: 1. Michael Clarke View this post on Instagram “Can you imagine this Indian batting line-up without Virat Kohli for the next two Test matches? They are in deep trouble. At stages it was very hard to watch,” former Australian skipper Michael Clarke had said after Day 1 of the Adelaide Test. 2. Ricky Ponting View this post on Instagram "There could be a good chance (of a whitewash). Let's hope we do get a result in Melbourne and if we do, I think India are going to find it really hard to bounce back and win a game," Ponting had told cricket.com.au during the second Test at the MCG. 3. Mark Waugh View this post on Instagram"I thought Adelaide was the Test that they could win on paper and with Virat Kohli here for just the one Test. I thought the conditions would suit them. I just can't see how they can bounce back (after) Australia whitewashed them on the third day… four-nil to Australia,” Michael Waugh had declared ahead of the second Test. 4. Michael Vaughan View this post on Instagram“Told ya ... India are going to get hammered in the Test Series ... #AUSvIND #4-0,” former England cricketer Michael Vaughan had tweeted cockily on December 19, 2020 just two days into the series. 5. Brad Haddin View this post on Instagram “I thought their only opportunity to win a Test match was the first Test at Adelaide. I thought the conditions suited their bowling and I thought they’d get enough runs. But I don’t think they’ll be able to turn it around. You’ve got one Test up at Brisbane where no one beats Australia. These next two wickets will be suited to Indian cricket, but I don’t think they’ll be able to turn it around,” Haddin had said after India’s 36-run innings at the Adelaide Oval. View the full article
  8. Importers and the corporate sector were usually reluctant to take "fresh positions" during the last week of the year
  9. YouTube/ANI News/Screenshot via Geo.tvNEW DELHI: India's opposition parties and analysts on Thursday lambasted a two-day tour to occupied Kashmir for foreign envoys arranged by the ruling Bharatiya Janata Party (BJP), with a resident of the Himalayan valley saying there were "no hopes". Being criticised as a "repeat" of last October's tour arranged for the European Parliament's right-leaning members, the new visit comprises 15 Delhi-based diplomats who reached occupied Kashmir's capital, Srinagar, and would be, according to Indian news agency ANI, "briefed by the Indian Army on the security situation". The diplomats hail from "the United States, Maldives, Norway, Argentina, Niger, Togo, Vietnam, Bangladesh, South Korea, Peru, [and] Morocco", the publication wrote. The Jammu & Kashmir National Conference (JKNC) slammed the move, saying if the conditions in the Muslim-majority region were normal, "why are scores of people … under detention for almost 160 days and why have the people been denied access to the Internet for over 5 months?” As per Times of India, the disappointed JKNC termed the tour as "short-lived propaganda victories" that hid "true normalcy [which] will only be achieved when all detainees are released, communications and Internet restored and genuine political activity resumed". Calling out the hypocrisy wherein Indians were told that "peaceful dissent is the cornerstone of democracy", the party asked: "Are the people of Jammu and Kashmir expected to live without the fundamental rights accorded to other Indian citizens?" Further, the Jammu and Kashmir Peoples Democratic Party (JKPDP) also criticised the decision, labelling it a "guided tour" for "handpicked individuals who toe the government line". As per The Hindu, it further added: “The government jails those who aided its democracy and strings up puppets who are ready to bargain at the cheapest price. The government should understand that those who really love Kashmiri soil are not for sale." Jairam Ramesh, a leader of one of the country's biggest parties, Indian National Congress (INC), condemned the foreign diplomats' tour, asking why New Delhi was not allowing Indian politicians into occupied Kashmir. YouTube/ANI News/Screenshot via Geo.tv"We demand that the government allows unfettered access to J&K to all politicians and not resort to guided tours for envoys," he said, according to NDTV. Manish Tewari, another INC leader, said Prime Minister Narendra Modi's government aimed "to demonstrate that everything is normal in Kashmir, which is far from reality". Tewari asked why the Internet was suspended for more than five months, saying it was "paradoxical" to "right-wing EU members to visit Kashmir" but not Indian politicians. "This visit is a farcical exercise aimed at distorting reality. The situation needs a political outreach and for the people of Kashmir need to be taken on board," he told Al Jazeera. The publication also quoted a 33-year-old engineer from occupied Kashmir, who said such diplomats "eat good food, stay in luxury hotels and enjoy the joy rides in the lakes". He said: "They hardly question India on its oppression in Kashmir. So, we have no hopes that they will speak for us. Had India been a real democracy, it would have given access to international human rights groups and foreign journalists." Kashmir-based analyst Sidiq Wahid, Centre for Dialogue and Reconciliation's Sushobha Barve, and former senior Kashmiri bureaucrat Wajahat Habibullah voiced similar concerns, saying India was attempting to legitimise its August 5, 2019, move when it revoked occupied Kashmir's special status. "The government in Delhi is trying to seek legitimacy for itself. … There is so little credibility for such delegations," Wahid said, while Barve added that India wished "to tell the world that everything is all right in Kashmir". Habibullah, on the other hand, asked: "What is the necessity for a guided tour unless the objective is to spread propaganda?" Separately, BJP leader Sudhanshu Mittal blamed India's opposition parties for "spreading misgivings in international media on how human rights are being violated" in Kashmir and said if such was the case, "why aren't people in Kashmir protesting?" He defended the Internet blackout as "a preventive measure" to stop attempts at disturbing peace in occupied Kashmir.
  10. Photo: FileLONDON: Analyst have expressed concern over the spiraling Iran crisis and worry about the oil supply over the Strait of Hormuz — a vital shipping lane for a fifth of global crude — and also over Iraq's output. Oil prices had surged last Friday after US President Donald Trump ordered the drone assassination of Iran's top general Qasem Soleimani, but the market stabilised on Monday and Tuesday with Middle East crude supplies unaffected. However on Wednesday, the oil market shifted higher once more after Tehran launched revenge attacks to target US forces in Iraq, making good on its pledge to hit back over the killing. Iran fired missiles overnight at Iraqi bases housing the US and British military, officials in Washington and Tehran said. Also read: Oil prices jump in international markets amid US-Iran tensions British Foreign Secretary Dominic Raab voiced concern over "reports of casualties". But Iranian Foreign Minister Mohammad Javad Zarif insisted that the country does "not seek escalation or war". Traders remain fearful nevertheless that Tehran could seek to block the Hormuz waterway — a key artery for crude that stretches between Oman and Iran. Hormuz, one of the world's most congested transit points, links up the region's oil producers with markets in Asia, Europe and North America. Disruptions at forefront"Supply disruptions were put at the forefront of the agenda for investors," said Mihir Kapadia, CEO of Sun Global Investments. "These concerns have been fuelled by Friday's killing of Soleimani and it is likely Iran will try and disrupt oil exports that travel through the Straits of Hormuz. "However ... it remains unclear as to what the next developments will be." The US government's Energy Information Administration describes Hormuz as "the world's most important oil transit chokepoint" through which 21 million barrels of crude per day passed in 2018. Also read: Middle East war concerns push oil up after top Iranian general killed in US strike The strait had already been rocked last year by a string of attacks that Washington and its allies blamed on Iran, accusations Tehran firmly denied. Its Western foes have also accused Iran of being behind a major attack on Saudi oil installations and Iran has in recent months also repeatedly seized tankers operating in the Gulf. Traders remain less fearful over the loss of Iranian oil because the Islamic republic remains under punishing US sanctions that were re-imposed by Trump in 2018. Energy Aspects analyst Christopher Haines noted traders were instead worried about oil output from Iraq — particularly if US troops are pulled out. America's military strategy in Iraq was thrown into confusion on Monday as the Pentagon admitted a letter from a general informing the Iraqi government of an imminent US troop pullout was sent by mistake. "There is a potential risk of disruption on Iraq, whose crude exports represent (about) 3.5 million barrels per day," Haines told AFP. Also read: Crude and gold extend gains, stocks sink on fear of US-Iran war "If US troops leave, it will leave the area less secure," he added. Iraq is currently the second biggest player in oil cartel OPEC after kingpin Saudi Arabia. SEB analyst Bjarne Schieldrop agreed that Iraqi production could be impacted by the current crisis — but so far no oil supplies have been affected. 'Not single drop lost'"Eventual loss of supply in the Middle East may however be in Iraq down the road and not so much due to near term retaliations, though so far not a single drop of oil supply has been lost," he said. Soleimani's assassination, which was carried out by a drone near Baghdad airport, sparked concern about a spreading conflict. Europe's benchmark oil contract Brent and US counterpart West Texas Intermediate crude had initially won more than three percent each on Friday. However, those gains fell far short of September 16, when both contacts had rocketed about 14 per cent on news of attacks on Saudi Arabian oil infrastructure.
  11. Iranian commander Qasem Soleimani. Photo: AFPBAGHDAD: The killings of Iranian commander Qasem Soleimani and a top Iraqi paramilitary chief in a US strike on Baghdad on Friday threaten to drag Iraq into the abyss of regional conflict, analysts warned. The US strike on Baghdad international airport targeted a convoy carrying Soleimani and his top Baghdad-based adviser Abu Mahdi al-Muhandis, the deputy head of Iraq's powerful Hashed al-Shaabi force. The raid has confirmed the worst fears of many Iraqis: that their homeland will become the main battlefield in a looming conflict between Iran and the United States. Also read: Searches for 'World War 3' spike as world reacts to killing of Iranian general "Iran's strongest cards are in Iraq, and I think that Iraq will pay the price for this," said Fanar Haddad of Singapore University's Middle East Institute. Tensions between the United States and Iran have been rising for months, as the Washington accused Tehran-backed factions of firing rockets on their troops across Iraq and on their embassy in Baghdad. But they have soared over the past week. On December 27, a rocket attack killed a US contractor working in northern Iraq, prompting retaliatory US strikes that killed 25 fighters from Kataeb Hezbollah, a hardline Hashed faction. Angry Hashed supporters laid siege to the US embassy as Washington announced hundreds of new US troops were en route to the region. Path to war?But Washington delivered its most decisive blow yet early on Friday when a volley of strikes hit near Baghdad international airport, leaving two cars torched on the access highway. Iran's Revolutionary Guards confirmed Soleimani was killed in the strike while the Hashed announced Muhandis´s death. With the two dead, the Quds Force — the foreign operations arm of Iran's Guards Corps — has been left decapitated and the Hashed lost its de facto chief, too. Also read: Who was Iran's General Qassem Soleimani? Iran's supreme leader Ayatollah Ali Khamenei vowed "severe revenge" for the raid and its top security council was meeting to discuss options. Analysts said the outbreak of a wider conflict was looking increasingly likely. "If Iran does need to respond and make a performance out of this, the fear is that there will be something more than just loading rockets at embassies," said Haddad. "It could set Iraq along the path of internal conflict and that´s something Iran can very easily instigate," he said. The nature of the strike is unpredecented because of the seniority of those targeted — making its repercussions hard to picture, said Ramzy Mardini, a researcher at the US Institute of Peace. "The problem with judging what happens next is a problem of imagination. Nobody thought this was in the realm of possibility," he told AFP. "It's likely that all actors on all sides will be playing things by ear in the short term, which is a recipe for miscalculation," said Mardini. 'Heads will roll'Friday's strike had shown that Iran could no longer use its allies in Iraq to carry out attacks against US interests "without risking an American conventional retaliation on Iran," Mardini told AFP. "Plausible deniability has gone out the window." The US had expressed increasing frustration with the escalating rocket attacks on its 5,200 troops in Iraq and on its embassy in Baghdad over the past two months. Also read: Iran and 'free nations of region' to avenge general's killing: Rouhani US forces led the 2003 invasion against then-dictator Saddam Hussein and Washington has worked closely with Iraqi officials and commanders since then. But its influence has waned compared with that of Iran, which carefully crafted personal ties with Iraqi politicians and armed factions, even during Saddam´s reign. Soleimani was the prime example, sweeping into Baghdad regularly to hold meeting with top Iraqi officials during times of turmoil. Ranj Alaaldin, a fellow at the Brookings Institution in Doha, said that would leave Iran with a range of questions for its Iraqi partners. "How did the US know of Soleimani's arrival in Baghdad? Who leaked the intel?" Alaaldin tweeted. "Watch the Iraqi political space. Heads will roll."
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