The Neighbourhood/World
Knocked off its perch - Kavitha Rao, Business Line
For some time now, Turkey has been ignoring increasing ISIL activity on its porous border with Syria. Instead, President Erdogan has targeted the Kurdish separatist movement, headed by the Kurdish Workers Party, or PKK.
Escaping the Greek debt trap - Barry Eichengreen, Peter T Allen & Gary Evans, Business Standard
Greece's debt is unsustainable. The International Monetary Fund (IMF) has said so, and it's hard to find anyone who disagrees. The Greek government sees structural reform without debt reduction as politically and economically toxic. The main governing party, Syriza, has made debt reduction a central plank of its electoral platform and will find it hard to hold on to power - much less implement painful structural measures - absent this achievement.
Behind the big FT sale - Indrajit Gupta, Business Standard
The $1.3 billion acquisition of the Financial Times by Japan's largest newspaper group Nikkei may have come as a bolt from the blue for many fans of the storied salmon pink paper published from London. Yet the word was out in media circles less than a year ago that Pearson Group would divest both its marquee global media brands, the FT and The Economist in 2015.
The Chinese islands - Sreeram Chaulia, Asian Age
A brooding presence is shrouding the Indian Ocean archipelago of the Maldives, steering it in a direction inimical to India’s core national interests. This shadow with a takeover mentality is called China and it is advancing with a whole range of levers being welcomed by the pro-Beijing regime of President Abdulla Yameen.
The China story in five charts - Krishna Merchant, Mint
The Shanghai Composite Index declined 8.5% on Monday, its biggest fall in a single day since 2007. The plunge happened despite the Chinese government spending billions to prop up the stock market. How did things come to such a pass? Here are five charts that tell the story.
The Iran nuclear deal could be a trigger for a far-reaching transformation - Sheel Kant Sharma, Indian Express
The nuclear deal between Iran and the P5 plus Germany/the EU, as concluded on July 14, is a truly historic and landmark achievement, not only for non-proliferation but also for diplomacy and multilateralism.
How ‘Hindu’ is ‘new’ Nepal? - Yubaraj Ghimire, Indian Express
Nazma Khatoon, a member of the Constituent Assembly (CA), put on a riot helmet before she occupied a chair to solicit public opinion on the preliminary draft of the constitution on Tuesday. Khatoon took the necessary precaution as top leaders like Madhav Kumar Nepal and Prachanda had faced public fury a day earlier, having to be rescued by security forces. People are divided on both the content of the draft as well as the manner in which public opinion is being solicited, with just 48 hours allotted to it.
The Greek crisis and bitcoin - Devangshu Datta, Business Standard
One of the more entertaining outcomes of the Greek crisis was a revival of interest in virtual currencies, especially the bitcoin. When capital controls were imposed, the Greeks swapped euros for bitcoin, and then swapped bitcoins for US dollar.
China's live stress test - Andrew Sheng & Xiao Geng, Business Standard
The plunge in China's stock markets, which has sent shockwaves reverberating around the world, has amounted to a real-time stress test for the country. The bears, who have been predicting the Chinese economy's downfall, are now consumed with schadenfreude.
Turkey allows US planes to bomb Islamic State from Incirlik base - HT
Senior US officials on Thursday said that Turkey had agreed to let the US military launch airstrikes against the Islamic State from a key air base near the Syrian border.
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