Recently, Mahatma Gandhi made news for a strange reason. James Otis, a New York collector, recently gave Antiquorum auctioneers five of Gandhi’s items: His iconic watch, glasses, a plate, a bowl and a pair of sandals for auction on March 6. Later, he also added a blood report of Gandhi from Irwin hospital in Delhi, and a signed telegram he had sent to students congratulating them on their peaceful struggle.

Interestingly, the auctioneers fixed the reserve price of the articles between USD 20,000 and 30,000, but ultimately, they got auctioned for USD 1.8 million!

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At last, a truly historic day in the saga of a troubled country! March 16 could well be touted as a watershed for Pakistan. In what has been described as a huge victory for the people of the country, the Asif Ali Zardari-led government has agreed to reinstate 12 judges, as well as the Chief Justice, Iftikhar Chaudhary.

The battle over their dismissal has been raging for about two years, since they were removed by former president, Pervez Musharraf, in 2008, during his infamous emergency. Today, Prime Minister Yousuf Raza Gilani, who was addressing the country on Monday morning, declared: "The Pakistan government has decided to reinstate the judges, including Iftikhar Chaudhary. The decision was taken in consultation with President Asif Ali Zardari." Nawaz Sharif, PML-N chief and one of the key architects of the ‘turning point’, was leading a long march in Gujranwala to protest the government’s move. When he heard the news, he immediately called off the march, and sent his thanks to Gilani and Zardari.

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The recessionary phase shows little signs of abatement now. Sagging employment and output levels in developed nations like USA, Japan and the Euro zone have failed to rise since last year. Governments around the world, including that of emerging economies such as India, have opted for expansionary fiscal policies for combating the adverse effects of the economic slump. The Reserve Bank of India, the country’s apex monetary body, has also kept a close tab on the ongoing international and national economic developments and initiated various policy measures as and when needed.

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On the 25th of February, a mutiny broke out in the Bangladesh Defence Force (BDR) headquarters in Dhaka. About 9,000 border guards rose up against their superiors from the Bangladesh Army, who head the BDR under deputation. The mutineers were asking for better pay and facilities. They used heavy artillery resulting in an unexpectedly high number of casualties within the force, as well as among civilians. Bodies of scores of officers were found stuffed into drains and buried in shallow graves at a border compound in Dhaka, and several bodies were unearthed later in the week. The normal life of Bangladesh's capital, Dhaka, was seriously affected as a result of the incident. All academic, commercial, cultural and social programmes were suspended in the areas adjacent to the BDR headquarters, which is situated in the heart of the country's capital.

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Introduction
On 24th February 2009, India’s acting finance minister Mr. Pranab Mukherjee announced a fresh round of fiscal measures for the economy, barely a week after the launch of the Interim Budget 2009-10. Rural India was the prime focus of the Interim budget, but there had been little room for cheer for the industry or urban India in general. So in view of the upcoming Lok Sabha elections, the Congress led UPA government has extended the carrot to the beleaguered industry (affected by the global recession) and urban India, including the unorganized sector therein.

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Latest IMF forecasts released on 28th January predict that the world is in for a tough global recessionary phase in 2009. Governments worldwide are scampering to resuscitate staggering economies burdened with the ill effects of falling demand, declining wealth and rising unemployment. It was in this backdrop that Mr. Pranab Mukherjee, India’s stand-in finance minister, presented the Congress led UPA government’s Interim Budget for fiscal year 2009-10 on 16th February 2009. This is a brief overview of India’s (reportedly Asia’s third largest economy) recent Interim Budget, 2009-10.

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Introduction 
The Securities and Exchange Board of India (SEBI) is India’s national regulatory body in the securities market. It seeks to protect the financial interests of the common stock market investors as well as to ensure efficient functioning of the capital markets. SEBI’s recent amendment, via a circular dated 28th January, 2009 regarding the mandatory disclosure of pledged shares by promoters, came in the wake of the Satyam fiasco (wherein promoter Ramalinga Raju pledged almost his entire shares, after intentionally inflating the share prices via profit falsification).

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What is at the epicenter of perceived change? Where does the symbol of rising hopes, inversely proportional to the sliding global economy, lie? Who is the man seen to possess a magic cure for the ills of the world? One charismatic figure: Barack Hussein Obama.

Obama seems to promise change, but will his Presidentship also mark a turning point in the actual substance of policy? Can he bring in a new era of progressive policies?

So far it appears so. Currently, he has certainly been liberal with his promises. Among many important domestic and foreign policy objectives, his announcements have promised a progressive plan to revive the economy, provide reasonable health care, strengthen public education and social security systems, work towards energy alternatives to challenge climate issues, end the war in Iraq and finish the Afghanistan mission, and work with allies to prevent Iran from developing a nuclear weapon. Obama’s plans are important as they will have a significant impact on world affairs economically, politically and even socially.

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The Kenyan Crisis
The East African nation of Kenya witnessed serious turmoil and violence starting with the declaration of victory of incumbent president Mwai Kibaki in the December 2007 elections. Kibaki’s prime opponent and rival Raila Odinga alleged that the elections were rigged, leading to large scale violence and arson. Kenya has always been divided on ethnic and tribal lines and popular perception is that the Kikuyu community (to which President Kibaki belongs) has traditionally monopolized major institutions of power. The allegations of electoral malpractice simply added fuel to the fire of discontent and anger brewing among the Luo tribe and incited its leader Odinga and his supporters to go on a rampage against the dominant community.

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A recent report titled ‘Global Trends 2025’ released by the National Intelligence Council, which is a part of the Government of the United States, analyses the challenges faced by the global economy as we stand in 2008. It also forecasts the likely trends of growth of prominent countries, how they are positioned to deal with the challenges and opportunities and makes an assessment as to how the profile of the key players would be by the year 2025. The report also brings out the major opportunities and threats faced by the world and evaluates the strengths and weaknesses of the current super-powers and other developing nations.

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