Back Issues
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October, 2008
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September, 2008
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August, 2008
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July, 2008
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June, 2008
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May, 2008
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April, 2008
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March, 2008
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February, 2008
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September, 2007
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By Moin M. Fudda
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Updated November 2008 |
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Lehman Brothers bankruptcy on 15th September 2008 caused “The Mother of all Mondays” as called by the Wall Street Journal; the US financial earthquake triggered the world and so much so that Moscow Stock Exchange had to shut down for four days. On 16th September AIG’s share melted from one year high of $80 to intra-day low of $1.25, whereas for the same period, market capitalization of its stock dropped from $ 185 to merely $5.5 billion. Worried with insurers non ability to honor the financial commitments it had made through millions of contracts and its massive worldwide implications, on 17th September the Federal Reserve nationalized the largest insurer in the world by injecting $85 Billion in exchange of 79.9% stake. Thus AIG escaped filing for bankruptcy protection, but became the biggest victim in this sub-prime mortgage triggered credit crisis, which on 7th September had forced Federal Reserve to takeover mortgage giants Fannie Mae and Freddie Mac and that Merrill Lynch avoided Lehman’s fate by being bought by Bank of America. Earlier on 17th March Bear Sterns was bought by JP Morgan and now the turmoil is likely to claim two more victims the Morgan Stanley and Goldman Sachs. |
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By Neha Sharma
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Updated November 2008 |
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It takes a spark to ignite an ethnic war in India, which has a population belonging to various faiths and beliefs. Recently, some off-the-cuff remarks by Mollywood’s leading actress Jaya Bachan, regarding Marathi led to a grave political upheaval against the Bachans by Raj Thackeray and his political allies. The world's largest democracy and second most populous country, India, has emerged as a major power after a period of foreign rule and several decades during which its economy was virtually closed. Independent India's first Prime Minister, Jawaharlal Nehru, dreamed of a socialist society and created a vast public infrastructure, much of which later became a burden on the state. |
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By permission of Publisher
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Updated October 2008 |
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by Sherry Jones
Publisher: Beaufort Books
ISBN-13: 9780825305184
Pages: 432pp Hardcover |
Mother of the Poor
Medina, a few days later I’d tried pleading, sulking, and cajoling, but Muhammad had insisted: Not only must I walk to the tent city with his timid bride, but I’d also have to spend the morning there with her. You will learn what it means to be truly poor, and you will gain respect for your new sister-wife, he’d said. Umm al-Masakin’s face shone when we told her the news. “What an honor,” she gushed. An honor! By al-Lah, was I the angel Gabriel? But then she turned and bowed to me, warming me to her. Muhammad might consider me a child, as our ill-fated evening of “romance” had shown, but that didn’t have to be my downfall, I’d realized. Lying in his arms that night as he drank deep draughts of sleep, I’d blinked against the dark and my tears and asked al-Lah why I had to fight for all I wanted. Yet as I listed my opponents, I saw that they weren’t so formidable. Ali was a vexation, not a danger. Umar was all bluster. Hafsa had become my ally, no longer interested in being hatun. |
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By Hamid Khan
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Updated October 2008 |
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With the on-going U.S.-led counterterrorism efforts, focused especially on South & Southwest Asia, still the existence of international terrorist groups and their supporters happen to increase rapidly in the region. And this critical situation of South Asia is globally identified as a threat to both regional political and economic stability. In the present global political scenario, terrorism is a highly controversial issue and holds key significance in the contemporary international politics. In effect, the controversy exists over its nature, causes and consequences with no efforts by the politicians to come to any conclusive opinion on the subject. Notwithstanding this, terrorism is nowadays considered as a threat to global peace and security, especially in the aftermath of 9/11. True, while there is the problem with respect to defining terrorism, less controversy exists with respect to the “forms and manifestations” in which it takes place, and all such types are well documented by the United Nations. It should be mentioned that the forms and manifestations of terrorism do not follow a stereo-typed pattern. The factors that lead to terrorism and the violence which characterize it are highly varied in nature. As a result, each pocket of terrorism varies from the other in its origin, types and methods. What then is the nature of terrorism in South Asia? |
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By Shoaib Harris
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Updated October 2008 |
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On August 22nd, missile strikes were launched on intelligence from local clansmen in remote villages of Herat province and aimed to target a cluster of radical insurgents. Acting on the tip, U.S.-led coalition forces calling in quick-response airstrikes, which killed, instead, ninety civilians - including 61 children, 15 women and 15 men. So far, no mistakes: the victims were rivals of the clans-folk who initially tipped the U.S.-coalition forces. At least one party was happy with the results. This is not the first time that "allies" planes make costly maneuvers in the Afghan skies to settle inter-clan feuds in far-flung villages, bombing to smithereens hundreds of civilians who might be celebrating wedding parties, mourning at funerals or gatherings for various community affairs. |
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