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Russia's Elvira Nabiullina, has helped Russia avoid the worst effects of the collapse in oil prices with the careful management of the economy. Russia has weathered the crisis better than most emerging markets, say experts, with policy moves that included a devaluation of the ruble, recapitalizing banks, increasing the share of public debt in Russian hands, and assistance to poorer sections of society. Following the last crisis in 2008 Russia built up its rainy day fund, the sovereign wealth fund, to $500 billon to help support the economy in difficult periods. Experts say, and Nabiullina concurs, that what is needed now even more than a rise in oil prices is improvement in business conditions and business climate to generate growth following high interest rates of 17% in 2014. Exceptional performance by an exceptional banker, known for her humility and experience through several crises, as deputy economy minister in 2000 and economy minister in 2007. Better relations with the European Union would do just that, particularly to increase foreign investment in Russia's economy, and restore the conditions for growth. ...

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Azimji Premji of Wipro is one of the few Indian business leaders with a strong bonding with Gandhi's ideas of personal responsibility for India's betterment and the betterment of millions of ordinary people in India. He says Gandhi influenced him only next to his mother who ran an orthopaedic hospital for disabled children for 50 years, and learned what it took to do this as well as the difference it made in people's lives. He quotes Gandhi as his own personal philosophy-  "Supposing I have come by a fair amount of wealth- either by way of legacy, or by means of trade and industry- I must know that all that wealth does not belong to me; what belongs to me is the right to an honorable livelihood, no better than that enjoyed by millions of others,. The rest of my wealth belongs to the community and must be used for the welfare of the community." Azimji Premji gives as three enduring parts of Gandhi's leadership- the pursuit of truth, the importance of means over ends, and empathy for all human beings. He cites a saying of Gandhi to be seen at Sabarmati Ashram and Gandhi Smriti- "I will give you a talisman. Whenever you are in doubt or when the self becomes too much with you, apply the following test. Recall the face of the poorest and the weakest man (woman) whom you may have seen, and ask yourself of the step you contemplate is going tobe of any use to him or her. Will he or she gain anything by it? Will it restore him (her) to control over his (her) own life and destiny? In other words will it lead to swaraj for the hungry and spiritually starving millions? Then you will find your doubts and your self melt away." ...

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In an Op-ed in the Washington Post Mehmet Oz, Head of Medicaid and Medicare says while banning use of Medicaid and Medicare funds for transgender medical procedures- "America’s children aren’t lab mice. They deserve quality care backed by sound evidence and should not be conscripted as test subjects in risky experiments that cause irreversible harm. Federal government is banning the use of Medicaid and Children’s Health Insurance Program funds to subsidize sex-rejecting medical interventions for minors and prohibiting hospitals participating in Medicare and Medicaid from performing them. Dr Oz says "extraordinary interventions such as cross-sex hormones and double mastectomies require extraordinary evidence, especially when children are involved." He says the evidence is lacking and cites information from many countries. ...

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Norway's sovereign wealth fund, the Government Pension Fund Global, is run by Yngve Slyngstad. The fund has $570 billon, $100,000 for each of Norway's 4.9 million people. The fund took a 23% loss in 2008. Then the fund made a shift from 40% equity holding to 60% equity holding, which has paid off. The losses were reversed with a 26% gain in 2009 and a 10% gain in 2010. The fund gets all of Norway's oil revenues less about 4% of the fund's value that goes to the state budget. Slyngstad became CEO in 2008, and persuaded finance ministers to take on greater risk, leading to $175 billion in stock investments during the financial crisis. He has told Parliament that he will get returns of 4% after inflation- higher than returns of 3.1% that were made since 1998. With assets equal to 2% of the total market value of stocks trading in Europe, the Norwegian fund is a major investor. Rules set for the fund prohibit investments larger than 10% in any one stock.

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PM Modi closes the 100th episode with the words- "Charaiveti, charaiveti, charaiveti, chalte raho, chalte raho"- from the Vedanta and Buddhist period in India is about life's endless journey and to keep moving, to keep moving, a whole country and about a billion and a half people on the move. Ideas become popular movements and the radio talk show every month by prime minister Modi takes on new meaning for hundreds of millions of young people in India. Ideas about "Swachh Bharat" or Clean India Mission, about the environment, health, about technology and education to transform the country, about women becoming a part of the economy, about the dignity of workers, about starting small business that creates jobs, about renewable energy. 

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In tackling the new Omicron variant president Biden is choosing to avoid the toughest restrictions and broad mandates that American would find it tough to accept and which affect upward mobility and the economy, and widen gaps between red and blue states. The fatigue is high as well as mental health impact says one of Biden's advisors. Biden announced stricter travel restrictions and a mandate for masks for public transit but avoided mention of lockdowns and shutdowns.

New York Governor Kathy Hochul says the situation is different now that 70% of the population is fully vaccinated and children over 5 are being vaccinated. She said "its a different situation right now and we don't need to have a knee-jerk reaction."

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US life expectancy dropped by 1.5 years to 77.3 years, the largest drop since 1943. This takes life expectancy back to the level in 2003. During the pandemic of 1918 the drop was 11.5 years, showing how much difference vaccines and modern medicine can make. The drop is a result of coronavirus, and added to this are the complications for people with other diseases including chronic liver disease, which is connected to use of alcohol. There was a decline in asthma and cancer related diseases. Delayed treatment for health conditions because of lockdowns and homicide increase were other causes of the drop.

Isolation, stress and disruption of normal diet and exercise will have effects still to be seen, say experts. 

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Following Scotland's decision to provide women's hygiene products free can India do the same and provide women's period products free, asks Isha Bhatia. She describes her experience with the lack of hygiene products for periods when she was growing up in India and remembers being handed a dirty cloth by her grandmother. About 70% of all reproductive diseases in women are caused by poor menstrual hygiene. The cost of Rs. 100-250 is too much cost for average Indian families. Only 18% of Indian women have access to sanitary pads. The cost should be brought down with government subsidizing manufacturing of sanitary pads so that it would cost less than 10 rupees or be provided free under government subsidized initiative for women's health.

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The use of cathedrals in Britain as vaccination centres is seen as a glorious way to bring people of all ages, particularly  the elderly in the community into a wonderful setting to preserve health. They came since the Middle Ages for a cure, and they come today for hope and care. The Archbishop of Canterbury thanks the cathedrals and the NHS for serving the community in such a beautiful way.

The famous cathedrals of England at Lichfield, Salisbury and Blackburn inviting people in for vaccination is the heart warming story of this month. Salisbury is one of the oldest and has copies of the Magna Carta, the historic document that put forward the rights of the people in a constitutional monarchy.

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A cargo ship hits Francis Scott Key Bridge which crosses outer Baltimore harbour and the bridge collapses on March 27, 2024. Pictures capture the bridge actually collapsing right in front of our eyes, a reminder of the infrastructure building that was neglected for so long during a period of foreign wars in remote mountains and deserts of the Middle East, and a period of tech and other monopolies where corporations paid less in taxes than teachers, nurses and childcare workers, both depriving the government of needed revenues for nation building infrastructure, and needed investments in manufacturing, health, education, reversing climate change. A period of neglect and lost decades which president Biden and a bipartisan group of Congressman are only now reversing with no time to lose.

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Giorgia Meloni's effort to revive the right wing vote in Italy after disillusionment with Mr. Berlusconi is shown in this report in the New York Post.  She was Mr. Berlusconi's Minister for Youth from 2008 to 2011. This report says she has advocated for Italy and as a mother and a Catholic, but that is nothing new in Europe with most nations looking for their national interest first. On Ukraine and the European Union there is no ambiguity as Meloni supports the European Union. When Mr. Draghi formed a national unity government during the covid health crisis and the breakdown of a previous coalition Berlusconi joined the government, but Meloni stayed in the Opposition leading to her rapid rise.  

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The Observe Research Foundation looks at Sri Lankan debt crisis.Too much borrowing at high interest rates above 6%, without concessionary loans typical of what developing countries need, can create havoc for poor countries such as Sri Lanka. When macroeconomic factors collide with health and politics such as drop in remittances, global financial crisis of 2009, civil war, borrowing for unsustainable type of infrastructure such as ports and airports, the results can be disastrous. Sri Lanka is an example. Borrowing that is off the official record of loans such as to state owned companies can leave the country with higher debt load than even the Finance ministry has kept track of, a severe problem for small developing countries, including countries  in the Caribbean shown in recent NYT reports.

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What will the first days of Keir Starme be like after July 4, election day in Britain? On July 5 he will go to meet King Charles and address the British nation.  On July 5 and 6 he will appoint  top ranking ministers. On July 9  Tuesday he will go to the new parliament. This will be followed by meetings of NATO and in Europe. Rachel Reeves the first female chancellor, or minister of finance. 

Angela Raynor  as Deputy Prime Minister        David Lammy as Foreign Secretary.                   Wes Streeting  Health and Social Care.          Bridget Phillipson  Education

 

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The figures are huge and it takes the World Health Organization Framework Convention on Tobacco Control to do something however small in Japan about smoking. Now the half million vending machines that dispense cigarettes to some 26 million Japanese smokers can only dispense to adults because users have to have a special card called Taspo or tobacco passport that they insert into the vending machine. This will shift sales to convenience stores like the Lawson's chain. In Japan 29.2% of all adults and probably an even higher percentage of men smoke according to OECD data. In the US its about 17%. Like obesity and poor eating habits and the availability of fast food in the USA, smoking in Japan remains largely untouched by any efforts to educate young people and the public about the great dangers, with companies largely uninterested and the government and schools and universities largely apathetic about what are really huge health concerns that reverberate in so many ways across the fabric of society. For example a obese person consumes more health care dollars, a smoker also consumes more health care dollars. And health care dollars are scarce dollars and need to be spread out in better ways than wasted on preventable things like obesity and smoking through partnership in education and other measures between all groups and organizations in society and the government. ...

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Most people would not guess or recognize that this place where elderly people in society were treated shabbily is a country in northern Europe, and a country where citizens pay high taxes for precisely better healthcare across different age groups. Sweden is where about half of the 6000 people dead from coronavirus were elderly people.  Over the last two decades Sweden has cut hospital capacity and discouraged elderly people from entering hospitals during the early period of the pandemic, says this report in the NYT. The for profit nursing homes in the centre of Stockholm were unable to cope. Having turned the work in these homes to low wage workers, it put these workers and the elderly at risk with lack of staff, lack of adequate PPE oreven  basic masks, says this report in NYT.  One of the lessons of this pandemic is the failure not just in turning over manufacturing of health care equipment and pharmaceuticals to China, but also turning over the basic care of elderly to for profit institutions that were totally unprepared and could not give elderly the dignity and care they deserve. Year of cuts to public services and health services now showed in a glaring way what can happen when this is done. It has lessons for countries from Europe to North America, and to Latin America, India and other Asian countries as they redesign policy and allocate resources to public services in the next 10-20 years. ...

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Some local governments in China are making vaccination mandatory. China is setting a goal of getting 64%  of the population fully vaccinated by the end of 2021. In European Union countries mandatory vaccination by country or region is now being put in place to fight new coronavirus variants that spread faster in the population. The reopening of economy, business and tourism is increasing the risk from variants in summer 2021. The mandatory vaccination is a way to increase the percentage of the population that is vaccinated. Getting younger people who lag behind to get vaccinated is important to protect the percentage of the elderly population that is still not vaccinated. There are risks also to the younger population as seen in previous waves of the pandemic. The initial hesitation to make health pass showing a person is vaccinated mandatory was because only a small fraction of the population was vaccinated in Europe. Now that over 50% are vaccinated in most EU countries and UK, that hesitation thinking that it is discriminatory to those people who did not have access to vaccines no longer exists. Ample vaccine supplies and the misinformation spread about vaccines are making action on health pass necessary to protect the overall population. National governments in France, Denmark, Austria, Greece, and local governments in Germany, Portugal and other EU countries such as Ireland, Italy, see the danger from coronavirus variants that spread quickly as too big to take any risks a second time. ...

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How the oil profits pie will be redistributed with governments getting a bigger share.