America is learning from Katrina slowly, much too slowly for comfort

As natural disasters do, Ernesto created havoc. But what did not happen (despite many boasts from Bush about greater preparedness) was protection of people from nature’s fury, evidenced from the appalling number of people (50 plus till date) killed by Ernesto, and this given that Ernesto has not even reached “hurricane” status – it softened into a tropical depression on September 2, 2006.

Clearly, the loopholes that Katrina exposed still need to be filled. Earlier, it was the lack of resources and infrastructure failure, this time it’s the usage of resources & maintenance of infrastructure. Even though Bush has promised to put aside $110 billion for the same, New Orleans and Louisiana are still in debris and policy makers are busy blaming each other. While the local governments are shouting against lack of support from the federal government, federal officers are accusing the locals of lack of planning.

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Source:- IIPM Editorial

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Certainly, unless the international community resolves to take concrete action

For their part, radicalized groups must renounce violence for good and accept existing international principles and laws. Causing loss of lives certainly does not contribute to the present or future welfare of the people of the region. There is currently no guarantee that a political truce with Hamas or Hezbollah would result in a total renunciation of their absolutist vision. Nonetheless, there can be a diplomatic process, which involves rights and obligations. To secure lasting peace, the key is to develop political mechanisms that allow sufficient space for moderationand democracy.

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The EXIM Bank Of India Is Planning To Extend Its Line Of Credit To Venezuela

For growth in trade, the EXIM bank of india is planning to extend its line of credit to venezuela, which is expected to help Indian and Venezuelan traders. A major reason is India’s increasing focus on developing Asian and Latin American markets in recent years, diverting from Western developed countries. However, exchange of direct investment between the two countries is deplorable. Presently, while investment from Venezuela to India is zero, FDI from the Indian side is not much either.

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Frightening odyssey in the sky

on August 10, 2006, British authorities announced that they had foiled a plot to blow up airliners bound for the US in a series of bombings that could have been deadlier than the September 11 attacks. Britain and the US raised terror alert to the highest level and instructed airlines not to allow carry-on luggage. London Heathrow, the most affected, is the world’s biggest airport. It’s five times the size of an average UK airport and 87 airlines operate from here. Ten days later, come the costs.

Over 2,000 flights were cancelled at London’s three major airports since August 10. In addition to the costs of the cancelled flights, airlines have had to pay hotel accommodation for several stranded passenger and refund tickets. They had to spend vast sums of money to return close to 20,000 bags that went astray. The estimated cost of all this is a minimum $570 million.

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Source:- IIPM Editorial

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