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Russia at risk of deep recession, says Medvedev

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Moscow: Russian Prime Minister Dmitry Medvedev has warned that the country stares at a “deep recession” and accused some countries of deliberately hindering Russia’s economic progress, alluding to the West.
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“Setting too modest goals creates a risk of falling into a deeper recession than what otherwise would be the case,” Medvedev said during a meeting Tuesday with senior officials of his United Russia party.

He acknowledged that the government would face “many difficulties” in the near future and probably would have to intervene in the economy, but he insisted that it “has the situation under control”.

The Russian prime minister described the central bank’s decision to raise the key interest rate to 17 percent, causing a record depreciation of the rouble, as an “absolutely provisional measure” aimed at stabilising the currency markets.

He hoped that the rates would fall as soon as conditions allowed them to, and vowed to take all necessary measures to ensure that it happened.

Medvedev indicated that the Russian economy was already in a bigger recession than the one into which it had plunged in 2009, when its GDP contracted for the first time in a decade.

The situation was more complicated now, because back then, the crisis affected the world’s industrialised countries which worked together to overcome it, but now “a number of countries” seek to obstruct the development of the Russian economy, Medvedev explained.

The US and its allies have imposed several rounds of sanctions on Russia over its alleged role in the Ukraine crisis, seriously affecting the Russian economy.

US President Barack Obama Friday signed an executive order, imposing a ban on new investments in Crimea and barring trade in goods, technology or services with the Ukrainian region, which joined Russia after a referendum in March, without recognition from Kiev and the West.

On the same day, Canadian Prime Minister Stephen Harper announced restrictions on the export of technology in relation to Arctic, deep water and shale oil exploration and extraction to Russia.

The sanctions came a day after the European Union (EU) unleashed similar sanctions on Moscow in connection with Crimea’s annexation by Russia.

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Foodman Vishal Singh Honored for Hunger Free World Mission in Bangkok

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Lucknow: Vishal Singh, a renowned social worker from Lucknow, also known as Foodman, has once again made India proud. He was honored by the Happy Hands Gloves Cooperative Limited Company in Korathai, Thailand, for his work with the Hunger Free World Mission.

The Hunger Free World Mission’s meeting was held in Korathai, Thailand, under Vishal Singh’s leadership. Representatives from several countries, including Mr. Raja Dwivedi (Managing Director of Happy Hands Gloves Limited), Thailand Coordinator Mr. Raja Mishra, and member Mr. Varun Singh, attended the event.

Under Vishal Singh’s leadership, the attendees took a pledge to work together toward creating a hunger-free world.

Speaking on the occasion, Vishal Singh explained that the main goal of the Hunger Free World Mission is social participation. He said the mission is not just about feeding people but also about meeting other basic needs of those who are struggling. The mission focuses on helping families of terminally ill patients in hospitals by providing food and shelter. It also works to fulfill essential needs like education, jobs, and care for the elderly.

For the last 16 years, the Vijay Sri Foundation has been providing free services, benefiting thousands of people. Vishal Singh highlighted that the mission aims to gain global recognition like other organizations such as WHO, WWF, and Red Cross, which work for social causes.

During this meeting, Vishal Singh was appointed as the Chairman of the Hunger Free World Mission by representatives from various countries. They also discussed holding regular meetings in different countries to push the mission forward.

Business tycoon Dr. Abhishek Verma has also supported this humanitarian mission, vowing to promote the idea of “Seva Parmo Dharma” (Service is the highest duty) worldwide. Vishal Singh praised him, stating that people like Dr .Abhishek Verma inspire others to work for the betterment of society.

Recently, Romania’s Ambassador, Mr . Daniela Sezonov Ţane, invited Vishal Singh to the Romanian Embassy in Delhi, where they discussed the mission in detail. Impressed by his humanitarian work, she honored Vishal Singh and invited him to Romania to take the mission forward .

Food man Vishal Singh has been serving the people of India for the past 16 years. Through the Vijay Sri Foundation, he provides free meals to cancer patients & their families ,shelter, and education for women & children along with running free old-age homes in Lucknow.

In addition to his humanitarian work, Vishal Singh also addresses issues like crime and corruption through his role as Chairman of Seva Path Media and Managing Director of Vijay Sri Foundation.

During the COVID-19 pandemic, Vishal Singh and his team worked tirelessly to provide food and help to the needy, including starving children, elderly citizens, and pregnant women. Despite contracting the virus himself, he continued to assist others after his recovery. He even created a life-saving oxygen regulator using household items, which was praised by doctors both in India and abroad.

In his address at the meeting, Vishal Singh spoke about his mission to create a hunger-free world. He pointed out that India’s large population, along with issues like unemployment and poverty, has caused the country to fall on the Hunger Index. He urged people to contribute just one handful of grains daily to help create a hunger-free world.

He concluded by saying that through social participation, we can empower the people around us, meet their basic needs, and work together to build a stronger, more prosperous, and developed society.

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