Has a global financial crisis been averted? Why you should not encourage beggars this Ramadan, and more, our editors comment on the top stories of Mar 17

A GLOBAL FINANCIAL CRISIS AVERTED – BUT WILL IT LAST? Thankfully, policymakers in the US and Europe – as well as banking chiefs – did not spend a lot of time on the talk when it came to putting money where it was needed most. Credit Suisse got its hands on much needed funds, from the Swiss central bank, while in the US, the big banks rushed to help out a troubled regional entity. In short, crisis averted. For now? It’s been heavy going for the global banking and financial sectors ever since troubles erupted at Silicon Valley Bank and percolated through to others. Asian and Middle East banking sector seems reasonably immune, while the Saudi National Bank – an investor in Credit Suisse – has layers of financial cushion to see through any more of the crisis lingering. Can the US Federal Reserve offer some more help all round when it comes to making rate decisions next week? (By Manoj Nair, Business Editor)

GUARD AGAINST MISPLACED SYMPATHY, COMPASSION DURING RAMADAN: Dubai police’s public warning against encouraging beggars ahead of Ramadan must be taken seriously, given the number of fraudulent cases that have come to light. As officials pointed out, there have been several cases where people come to the UAE on visit visas with the explicit purpose of making some quick money in the guise of begging. Sympathy and compassion cannot be misplaced. They should be directed to the right people through official agencies. There are several charitable organisations that ensure donations reach the right hands, so one must take due cognisance and route any assistance through these bodies. (By Sharmila Dhal, UAE Editor).

SPORTSMEN NEED TO BE A SHINING EXAMPLE: A sportsman’s basic requirement is to extol the virtues of sportsmanship. They have to be a shining example for others to follow. India’ Twenty20 captain Hardik Pandya, who has been making rapid strides as a leader since he led debutants Gujarat Lions to their maiden Indian Premier League title last year, has shed light on what a good person, a human being who respects the fellow cricketers, when he addressed the media recently. He is not going to be available for selection for World Test Championship final, he feels, as it’s unfair for those who have been putting the hard yards over the last year. These are the qualities that will go a long way in gaining respect of fellow teammates. A solid defence from the hard-hitter. (By A. K. S. Sathish, Sports Editor)

THE IMPACT OF INDIA'S SOFT POWER: If ever there was an affirmation needed for the soft power of India's film industry, this was it. Less than a day after the Bollywood movie 'Mrs Chatterjee Vs Norway', based on a real-life incident involving the custody battle between an Indian expat in the Scandinavian country and her kids, the Ambassador of Norway to India has written an oped in 'The Indian Express', saying the movie is a work of fiction. It is possible that cultural differences and their misunderstanding played a key role in the incident that played out in 2011. However, an emissary coming out and expressing worry that this movie may affect migration to the country underlines the fact that the world perceives Bollywood as much more than a source of entertainment. That is the impact of soft power. (By Rajagopalan Venkataraman – Assistant Editor, Features)