South and Central Asia
‘Black Tuesday’ in Russia as rouble slide sparks currency crisis
Sharp rouble depreciation revives fears of 1998 crisis, forcing the Central Bank of Russia to take tough decisions with limited results so far. Investors should prepare for further restrictions and economic recession. On
Kazakhstan becomes centrepiece in Eurasian diplomacy
In a phase of declining oil prices and economic storm in neighbouring Russia, Kazakhstan has engaged in intense diplomatic activity with the West and other Central Asian countries. Kazakhstan is
Rocky ride for Russia’s economy set to continue
Western sanctions and falling oil prices have cost Russia over $160 billion and have been “catastrophic” for the Russian economy. Despite this, the Russian leadership is unlikely to alter its provocative
Karnataka launches new industrial policy
India’s southern state Karnataka has launched a new industrial plan to revive state growth. Yet, achieving 12% industrial growth in an eco-system which is virtually stagnated will be an uphill battle,
New oil tax laws in Russia could backfire
Eurasian integration in the new Eurasian Economic Union forces Russia to introduce a so called “tax maneuver” in its oil industry with negative consequences. Eurasian economic and political integration acquired special importance
Kazakhstan stuck between falling exchange rates and oil prices
How will Kazakhstan’s economy react to the double threat of the falling ruble exchange rates and falling oil prices? Kazakhstan’s growth rate since 2010 has been above 6%, but current
When will India’s central bank (RBI) reduce interest rates?
Is the Reserve Bank of India’s (RBI) Governor, Raghuram Rajan, behind the curve on interest rate reduction? Some members of the technical advisory panel of RBI and a few independent
Is Tajikistan’s Facebook crackdown a sign of things to come?
Earlier this month, Tajikistan blocked access to several sites, including Facebook, that had published articles critical of the Rakhmon government. The crackdown is a sign of things to come, and
Modi’s Make in India campaign requires extensive reform
Indian Prime Minister Narendra Modi has set his sights on the domestic economy. Yet, his Make in India campaign will only be successful if built on structural reform especially in labour
‘Cricket diplomacy’ could boost India-Pakistan relations
Since independence, India’s foreign policy has focused heavily on neighboring Pakistan. It will be even more so for the new government in India. Since the Mumbai terrorist attacks in November 2008,
