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The national and provincial budgeting cycle has come to an end, though Pakistani governments often present mini-budgets through tax and rate hikes later on. They also rarely stick closely to budgeted revenue and expenditure estimates. Thus, analysing Pakistani budgets means analyzing to some extent wishful intentions. Nevertheless, a comparison of the national and five provincial budgets produces several interesting trends on both revenue and expenditure side.

In the wake of the power shortfall touching a peak of over 7,000MW, the Federal Minister of Water and Power Khawaja Mohammad Asif, flanked by the State Minister and the Federal Secretary of the said ministry, while addressing a press conference invoked God's help to overcome power crisis and apologised to the nation over prolonged outages even at Sehr and Iftar. It is an ominous and telling moment that does not bode well for the future.
Argentine President Cristina Fernandez's unflinching poker face in the battle against "holdout" investors suing the country is increasing the odds that her government will default for a second time in 12 years at the end of this month.
"So another one with a six-month itch?"
The crashing of a passenger aircraft carrying hundreds of human beings is a tragedy that impacts the lives of thousands of the victims' survivors. Malaysian Airlines' flight MH17 tragedy was one such tragedies but for this airline it was overly damaging because it occurred less than five months after its flight MH370 crashed (or did it disappear?) killing hundreds of innocent passengers.
Dear simpleton, at the outset, there are two handbooks on how the global economy works, one is for the ruled, oops, poor developing nations and the other is for the rich developed nations; and both are poles apart. The latter, is hardly a few pages and basically lays down rules and pointers on how to invest surplus capital in the poor developing nations, by any means possible, and squeeze every ounce of profit available therein, to feed the need for continued capital accumulation. The consequent pain and waste is to be simply ignored and categorised as collateral damage.
The deadly Israeli offensive in Gaza has let loose an unprecedented wave of hate on media websites and social networks in France that moderators say they are struggling to contain. The bombardment by land, sea and air that has killed at least 425 Palestinians has enflamed tensions far afield from the Middle East, especially in France with its large Muslim and Jewish communities.


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