When the world gets closer.

We help you see farther.

Sign up to our expressly international daily newsletter.

Already a subscriber? Log in .

You've reached your limit of one free article.

Get unlimited access to Worldcrunch

You can cancel anytime .

SUBSCRIBERS BENEFITS

Exclusive International news coverage

Ad-free experience NEW

Weekly digital Magazine NEW

9 daily & weekly Newsletters

Access to Worldcrunch archives

Free trial

30-days free access, then $2.90
per month.

Annual Access BEST VALUE

$19.90 per year, save $14.90 compared to monthly billing.save $14.90.

Subscribe to Worldcrunch
Economy

With A Little Help From Their Games, UK Out Of Recession

ONS, BBC NEWS (UK)

Worldcrunch

LONDON – Britain’s Office for National Statistics (ONS) reported Thursday that the UK economy has emerged from recession, helped by the Olympic Games.

In the three months from July to September, the country’s economy returned to growth at its fastest pace in five years, with its Gross Domestic Product (GDP) rising 1%, ending three consecutive quarters of declining output.

The Office for National Statistics said that Olympic ticket sales added 0.2 percentage points to the figures – as all Olympic and Paralympic ticket sales counted towards July to September's GDP figure. Though officials acknowledged the artificial boost of Olympic sales, the numbers were still far better than the 0.6% rise that analysts had forecast.

"There is still a long way to go, but these figures show we are on the right track," said Chancellor of the Exchequer George Osborne quoted by BBC News.

You've reached your limit of free articles.

To read the full story, start your free trial today.

Get unlimited access. Cancel anytime.

Exclusive coverage from the world's top sources, in English for the first time.

Insights from the widest range of perspectives, languages and countries.

food / travel

Inside The Search For Record-Breaking Sapphires In A Remote Indian Valley

A vast stretch of mountains in India's Padder Valley is believed to house sapphire reserves worth $1.2 billion, which could change the fate of one of the poorest districts of Jammu and Kashmir.

Photo of sapphire miners at work in Jammu and Kashmir’s Kishtwar district

Sapphire mining in Jammu and Kashmir’s Kishtwar district

Jehangir Ali

GULABGARH — Mohammad Abbas recalls with excitement the old days when he joined the hunt in the mountains of Jammu and Kashmir’s Kishtwar district to search the world’s most precious sapphires.

Kishtwar’s sapphire mines are hidden in the inaccessible mountains towering at an altitude of nearly 16,000 feet, around Sumchan and Bilakoth areas of Padder Valley in Machail – which is one of the most remote regions of Jammu and Kashmir.

“Up there, the weather is harsh and very unpredictable,” Abbas, a farmer, said. “One moment the high altitude sun is peeling off your skin and the next you could get frostbite. Many labourers couldn’t stand those tough conditions and fled.”

Abbas, 56, added with a smile: “But those who stayed earned their reward, too.”

A vast stretch of mountains in Padder Valley nestled along Kishtwar district’s border with Ladakh is believed to house sapphire reserves worth $1.2 billion, according to one estimate. A 19.88-carat Kishtwar sapphire broke records in 2013 when it was sold for nearly $2.4 million.

In India, the price of sapphire with a velvety texture and true-blue peacock colour, which is found only in Kishtwar, can reach $6,000 per carat. The precious stone could change the socio-economic landscape of Kishtwar, which is one of the economically most underdeveloped districts of Jammu and Kashmir.

Keep reading...Show less

The latest