World Bank says India beat France to become sixth largest economy: Report

India is expected to grow at 7.4 per cent in 2018 and 7.8 per cent in 2019, leaving its nearest rival China behind

India Growth Rate : Updated World Bank figures for 2017 show that India is now the world's sixth-biggest economy, having muscled past France, which was pushed to the seventh spot, news agency AFP reported on Wednesday. India's gross domestic product (GDP) stood at $2.597 trillion at the end of 2017, compared to $2.582 trillion for France.

The US continued to be the world's biggest economy, followed by China, Japan and Germany. Britain remained the world's fifth-biggest economy with a GDP of $2.622 trillion at the end of 2017.

Backed by government spending and investment, India's economy grew at a seven-quarter high of 7.7 per cent in the January-March quarter of the financial year 2018. But this did not prevent GDP growth, at 6.7 per cent in 2017-18, from falling to its lowest rate in four years of the Narendra Modi government.

The finance ministry said India's economy would clock 7.5 per cent growth in 2018-19, the upper range of growth projected by the Economic Survey.

India is expected to grow at 7.4 per cent in 2018 and 7.8 per cent in 2019, leaving its nearest rival China behind respectively at 6.6 and 6.4 per cent in the two years, the International Monetary Fund (IMF) said in April this year.

Last year in December, the World Economic League Table (WELT) 2018 released by the Centre for Economics and Business Research forecast that India would "leapfrog" Britain and France to become the world's fifth largest economy in 2018, ahead of an oncoming major global economic shift towards Asia.

Article Source : BS

Fifa World Cup 2018: Big guns get ready for quarterfinal battles

France, Uruguay, Brazil and Belgium kick off the World Cup quarterfinals tonight

France, Uruguay, Brazil and Belgium, which kick off the fifa World Cup 2018quarterfinals tonight, offer the prospect of some tasty matches with teams ranked, respectively, 7,14, 2 and 3, taking the field*.

Expect at least one commentator to mention the sky-high values of the stars on display. For those who follow these things, France is the most valuable team at $1.2 billion-plus, based on the latest transfer prices. This number would be skewed by Kylian Mbappe, the French teenager of Cameroonian-Algerian origin whose explosive pace humbled mighty Argentina in the round of 16. Last year, he signed on with Paris St Germain for Euro 180 million.

That astonishing figure made him the most expensive teenager and the second-most expensive player in Europe. His histrionic club team-mate, Brazil’s Neymar, who Mbappe may or may not meet in the semi-finals, leads the table at Euro 222 million. Till Real Madrid denied the rumours Thursday, the 19-year-old striker was said to be in the running to replace Cristiano Ronaldo, the Portuguese superstar in wantaway mode following arguments over his pay package.

It may sound astounding that a 33-year-old of no significant educational qualifications can earn over Euro 400,000 a week (that’s excluding his endorsement and sponsorship deals plus franchising his own CR7 brand). But when you know that this is only the sixth highest wage in the footballing world – Messi reigns with over Euro 500,000 a week – Ronaldo’s hissy fit isn't so unreasonable.

Here's why. The exorbitant wages that clubs pay to support the extravaganza that has come to characterise the footballing lifestyle – super lavish homes, sports cars, designer labels, supermodel consorts and so on -- have earned footballers a reputation for overpaid indolence. Don’t be fooled by this defiant profligacy. They earn every penny of their millions by leading lives of iron discipline in diet, physical training and rigid daily regimens.

ALSO READ: Fifa World Cup 2018: Players who will steer ship of their teams in quarters

Ronaldo is a good example of the New Age footballer. At 33, he is at an age when most footballers used to think of hanging up their boots. But he’s at the peak of his game and vows to play till he’s 40. His regular shirtless appearances on the field testify to his splendid physical conditioning. Apart from hours on the practice pitch, he touches no alcohol, goes to bed early and eats the prescribed calorific and carb-fat-protein intake at all times, and gyms relentlessly. Since he’s short on pace at his age, he ensures that he keeps himself 2 kg below his natural weight. For this life of strict self-denial and the star performances it yields, he feels entitled to higher pay.

Cannes gets an added dose of drama as Netflix makes its festival debut

Opening the 2017 Festival is French director Arnaud Desplechin's Ismael's Ghosts

The red carpet has been rolled out and the stars are taking their photo calls as the aristocracy of the film industry gathers at the Palais des Festivals in Cannes for the 70th annual film festival. From Afghanistan to Zambia, film makers, buyers, screenwriters, distributors, critics, academics and cineastes bunker down together for 12 days of communal cinematic consumption in dark rooms interspersed with heady business and critical discussion in the glare of the Mediterranean sunlight.

Opening the 2017 Festival is French director Arnaud Desplechin’s Ismael’s Ghosts, which is screening out of competition and kicks off a line up that includes 49 films from 29 countries, 12 of them by female directors.

Also Read : Deepika shines bright like a diamond at Day 2 of Cannes

The festival groups its selection (invited from more than 1,000 submitted films) into a number of strands: “the Competition”; “Un Certain Regard”; “Director’s Fortnight” and “Critic’s Week” all of which have their own programme of films. Complementing these strands are special events such as “Midnight Screenings”, “Cannes at 70” screenings, “Cannes Classics” and “Out of Competition” screenings – including, this year, a new thriller from Roman Polanski.

Thierry Frémaux, the Festival’s artistic director, is in charge of selection – and this year his choice is characterised by a lower number of Hollywood films than usual. He has also gone for a more pronounced political tone in the films, on themes such as migration, sex trafficking and the refugee crisis. Another feature of this year’s selection is the screening of films financed by media streaming platforms, including Netflix and Amazon, and the inclusion of “cinematic” television dramas. Read more

Paris on alert as swollen river Seine reaches peak levels

Paris on alert as swollen river Seine reaches peak levels

The rain-swollen River Seine in Paris reached its highest level in three decades today, spilling its banks and prompting the Louvre museum to shut its doors and evacuate artworks in its basement.

Parisians were urged to avoid the banks of the river which was expected to reach a peak of six metres (19 feet) today, while deadly floods continued to wreak havoc elsewhere in France and Germany.

In France, a man on horseback died after he was swept away in a swollen river in Evry-Gregy-sur-Yerre, southeast of Paris, local authorities said yesterday.

And in Germany, a 65-year-old man was found dead in the flood-hit town of Simbach am Inn, bringing the total death toll in the country this week to 10.

Days of torrential rain have only added to the gloomy atmosphere in France, also facing a third full day of train strikes after months of protests and political turmoil.

French Environment Minister Segolene Royal said that she feared more bodies would be found as waters recede in French villages which have seen main streets turned into muddy rivers.

Read more.