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Dalio's debt playbook: What Japan got wrong, and India may be getting right
In 'How Countries Go Broke', the billionaire investor offers a sweeping view of macro cycles and fiscal choices - arguing for 'beautiful deleveraging' as the best path through rising global risk
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How countries go broke
Published by Simon & Schuster
400 pages ₹1,499
Ray Dalio is a successful hedge fund founder with a net worth of about $14 billion as his calling card. A YouTuber, his opinions on investments, politics and why things happen are freely available. In a recent episode, an NBC anchor asks whether Donald Trump's tariff war can mitigate MAGA dissatisfaction about jobs and stagnating incomes. His answer is ambivalent — agreeing with the diagnosis of the problem that the demise of manufacturing has enhanced strategic risk and lowered family income, but not with the solution proposed.
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Mint
34 minutes ago
- Mint
Iran-Israel War: Flights resume in Qatar as airspace reopens ahead of Trump's ceasefire announcement
Iran-Israel War: Flights are resuming in Qatar as the Gulf state reopened its airspace following a temporary closure amid the escalating conflict in the Middle East. Iran announced on state television that it had attacked forces stationed at Al Udeid Air Base in Qatar in retaliation for America's strikes on its nuclear programme. Qatar said it successfully intercepted the missiles and no casualties were reported. The Ministry of Foreign Affairs of Qatar announced earlier in the day that flights coming into and out of the state were grounded to 'ensure the safety of citizens, residents, and visitors.' However, Qatar Airways confirmed flights were resuming on Monday night. 'Qatar Airways confirms reinstatement of flights as airspace reopens in the State of Qatar. Our focus at this time is to help our passengers return home or reach their onward journey safely and smoothly,' the airline said in a post on X. US President Donald Trump has said that Iran and Israel have agreed on a ceasefire, twelve days after the conflict began. 'We have deployed extra ground staff at Hamad International Airport to support you as we resume operations,' the airways said, urging passengers to check the airline's website or app before travelling. Airlines reviewed routes across the region when the airspace was shut, with some services rerouted or diverted mid-air. Earlier in the day, Iran launched missile attacks on US military bases in Qatar and Iraq, retaliating for the American bombing of its nuclear sites and escalating tensions in the region. In a statement, Iran's top security body said that its armed forces used the same number of bombs that the US had used in attacking its nuclear facilities, news agency Reuters reported. The US officials said on Sunday that the country's military "obliterated" Iran's main nuclear sites using 14 bunker-buster bombs, more than two dozen Tomahawk missiles and over 125 military aircraft. We have deployed extra ground staff at Hamad International Airport to support you as we resume operations. The strikes marked an escalation in the ongoing Middle Eastern conflict, with Israel beginning to strike Iran on June 13. Israeli strikes on Iran have so far killed at least 950 people, wounded 3,450 others, news agency AP quoted a human rights group as saying on Sunday.
Hindustan Times
42 minutes ago
- Hindustan Times
US strikes on Iran add to global travel disruptions and flight cancellations
The US entry into Israel's war with Iran has caused travel disruptions to pile up globally. Israelis disembark a bus after they were flown back to Israel in a special flight, on June 16, 2025, in Tel Aviv.(AFP) Following unprecedented bombings ordered by President Donald Trump on three Iranian nuclear and military sites over the weekend, Iran on Monday launched a missile attack on US forces at Qatar's Al Udeid Air Base. Qatar had closed its airspace just hours earlier, after both the U.S. and U.K. also urged their citizens to shelter in place there. The region has been on edge following the weekend strikes from the US — and since Israel began the war with a surprise bombardment on Iran, which has responded with its own missile and drone strikes, earlier this month. As deadly attacks escalated between Israel and Iran over recent weeks, sections of airspace and airports throughout the region have temporarily closed. And airlines cancelled more flights in recent days, with some halting select routes through the middle of the week — particularly in Qatar and the United Arab Emirates, just across the Persian Gulf from Iran. Singapore Airlines, for example, canceled some flights to and from Dubai starting Sunday and through Wednesday, citing 'a security assessment of the geopolitical situation in the Middle East.' And British Airways has similarly suspended flights to and from Doha through Wednesday. 'Safety is always our highest priority,' British Airlines said in a statement confirming its cancellations to The Associated Press, adding that it 'will keep the situation under review.' Air India on Monday announced it was ceasing 'all operations to the region as well as to and from the East Coast of North America and Europe' immediately until further notice. The airline, which is still reeling from a plane crash that killed at least 270 people earlier this month, added that India-bound flights from North America were being diverted or re-routed away from closed airspaces. Air tracking data from FlightAware showed 705 cancellations worldwide as of Monday afternoon. Dubai International Airport topped the list with 75 cancellations in and out of the airport as of around 5 p.m. ET. And Air India had had the highest amount of cancellations among carriers, totaling 38 as of 5 p.m. ET. Such disruptions have snarled travel, particularly as central hubs in the Middle East often connect flights worldwide — but experts stress that these kind of airspace closures and flight diversions are critical to ensuring safety, especially if future escalation emerges suddenly. 'It is the responsibility of states, countries to ensure that their airspace is safe for passage of aircraft,' Hassan Shahidi, president and CEO of the Flight Safety Foundation. He added that on Monday 'the Qataris did the absolutely right thing to close their airspace because of the threat of conflict.' Beyond Qatari airspace, Flightradar24 reported that UAE airspace was also closed on Monday. After several hours of diversions, flights appeared to be landing and taking off in the country again. Monday marks the latest 'dramatic increase' in this kind of impact, said Ian Petchenik, director of communications at Flightradar24. And while the future is unknown, he added that it's important to remember airspace closures and flight cancellations reflect that 'airlines, air traffic controllers and flight crews are doing their best to keep everybody safe.' Shahidi adds that it's important for travelers to monitor government guidance — such as safety notices from the US State Department. How long the war lasts and what, if any, future escalation comes next could carry more widespread implications. Beyond disrupting global flight networks farther down the road, Shahidi stresses that it's very difficult for people who may need or want to evacuate countries impacted by the war to do so without access to commercial flights. At the same time, he adds, it's critical that state authorities focus on keeping their skies safe — pointing to past tragedies of passenger flights that were shot down by strikes. That includes Malaysia Airlines Flight 17, which was shot down by Russian-backed forces while flying over Ukraine in 2014, killing 298 people. 'We are all praying and urging resolution to this conflict — and especially as it relates to protection of civilian air travel," Shahidi said. "We do not want to have an MH17, with innocent lives being lost in a missile strike ... We do not want to repeat that history.'
News18
an hour ago
- News18
Donald Trump Claims Israel-Iran Ceasefire Agreed, Truce To Begin In Six Hours
Last Updated: However, neither Israel nor Iran has immediately confirmed the cease-fire agreement or the terms of the truce. President Donald Trump announced on Monday evening via Truth Social that Israel and Iran have agreed in principle to a cease-fire that will end the ongoing conflict he dubbed the '12 Day War." 'CONGRATULATIONS TO EVERYONE! It has been fully agreed by and between Israel and Iran that there will be a Complete and Total CEASEFIRE (in approximately 6 hours from now, when Israel and Iran have wound down and completed their in progress, final missions!), for 12 hours, at which point the War will be considered, ENDED!" Trump wrote. According to his post, Iran will initiate the cease-fire, followed by Israel after 12 hours, and after 24 hours the war will be officially declared over. Trump said that during each cease-fire period, both sides will remain 'PEACEFUL and RESPECTFUL." 'On the assumption that everything works as it should, which it will, I would like to congratulate both Countries, Israel and Iran, on having the Stamina, Courage, and Intelligence to end, what should be called, 'THE 12 DAY WAR.' This is a War that could have gone on for years, and destroyed the entire Middle East, but it didn't, and never will!" Trump added. However, neither Israel nor Iran has immediately confirmed the cease-fire agreement or the terms of the truce. Meanwhile, tensions escalated earlier Monday when Iran retaliated against recent US air strikes on its nuclear facilities by firing missiles towards the military bases of the United States in Qatar and Iraq. Iran launched six missiles towards the US troops in Qatar, Axios reported, citing an Israeli official. Iran's National Security Council confirmed the missile attack on a US base in Qatar. All Iranian missiles were successfully intercepted with no reports of casualties, Qatar said. However, Iran's Mehr News Agency claimed that at least three Iranian missiles struck the Al-Udeid base in Qatar. According to a New York Times report, Iran had given advance notice to Qatar about the strike on the US base to minimise casualties. First Published: June 24, 2025, 04:26 IST
