India grants USD 61.5 million to develop KKS Port
Daily Mirror | 19th March
March 19 (Daily Mirror) – The Indian Government has agreed to provide a grant of USD 61.5 million to fully develop the Kankesanthurai (KKS) Port.
This was revealed during a recent meeting between Ports, Shipping, and Aviation Minister Nimal Siripala de Silva and Indian High Commissioner to Sri Lanka, Santosh Jha.
As part of the project, a new breakwater will be constructed and the port will be dredged to a depth of 30 metres to accommodate deep-draft vessels.
Lyonchhen’s India visit: Image of trust between Bhutan and India
Kuensel | 18th March
The Prime Minister’s first official visit to India after taking office went well. Both governments agreed on working together in many areas during the 13th plan.
As stated in a joint announcement by the two countries, the Prime Ministers recognised the strong bond between their countries and its importance for the stability and prosperity of the region.
The relationship between India and Bhutan has been defined by a strong and lasting friendship, built on trust and understanding between the two nations.
US envoy Blome, FM Dar discuss economy, regional security
The News | 18th March
US Ambassador to Pakistan Donald Blome called on Foreign Minister Ishaq Dar and reiterated Washington’s resolve to work with Islamabad.
During the meeting on Monday, they discussed matters of mutual interest including economy, trade and regional security with Blome stating that Pakistan’s security and prosperity is a top priority of the US.
The two officials also exchanged views on US support for economic reforms, according to an official statement.
PAKISTAN
Pakistan, IMF extend talks to conclude SBA review
Dawn | 19th March
With an apparent understanding reached during the final review of the $3 billion Standby Arrangement, the visiting staff mission of the International Monetary Fund (IMF) and Pakistani authorities agreed on Monday to extend talks overnight to conclude the Memorandum of Economic and Financial Policies (MEFP).
The finance ministry had earlier announced the schedule of review talks ending on March 18. However, informed sources said that the two sides had hectic sector-wise meetings, which were impacted by reduced working hours due to Ramazan, thus spilling a couple of agenda items over to Tuesday (today).
PM expresses desire to bolster Pak-UAE economic ties
The Nation | 19th March
Prime Minister Shehbaz Sharif has expressed the desire to translate the tremendous political goodwill between Pakistan and the United Arab Emirates into a stronger economic partnership.
He was talking to UAE Ambassador Hamad Obaid Ibrahim Salem Al-Zaabi, who paid a courtesy call on him, in Islamabad.
SC issues notices to govt in power bill taxes plea
The Express Tribune | 19th March
The Supreme Court of Pakistan on Monday served notices to respondents including the federal government in a case against imposition of alleged extra taxes in electricity bills.
A three member bench headed by Justice Mansoor Ali Shah heard the aforesaid case.
The petitioners’ lawyer adopted the stance that further and extra taxes could only be imposed on unregistered institutions, adding that his clients have already been paying GST taxes. The law of registration couldn’t be applied on petitioner institutions, he contended.
SRI LANKA
The Island | 18th March
The Natural hazards Early Warning Centre has warned that the Heat Index, the temperature felt on the human body is expected to increase up to ‘Caution level’ at some places in North-western, North-central, Eastern and Western provinces and Monaragala, Mannar, Rathnapura and Vavuniya districts.
The Heat Index Forecast is calculated by using relative humidity and maximum temperature and this is the condition that is felt on your body.
ADB approves $100 million loan to support SMEs in Sri Lanka
Daily Mirror | 18th March
The Asian Development Bank (ADB) has approved a $100 million loan to provide small and medium-sized enterprises (SMEs) in Sri Lanka more access to finance and build their resilience to external shocks, such as the economic crisis and climate change.
“SMEs play a critical role in Sri Lanka’s economy, contributing 52% to the country’s gross domestic product and employ 45% of the population,” said ADB Senior Financial Sector Specialist Manohari Gunawardhena.
AFGHANISTAN
Pakistan’s airstrikes on Afghan soil violate international laws: Faiq
The Khaama Press | 19th March
Naseer Ahmad Faiq, the acting head of Afghanistan’s permanent mission to the United Nations, in response to recent Pakistani attacks on Afghan soil, says that these attacks violate international laws and Afghanistan’s territorial integrity.
The acting head of Afghanistan’s permanent mission to the United Nations expressed his reaction on Monday, March 18th, in a post on its social media platform X regarding Pakistan’s airstrikes on specific points in Afghan territory.
Afghanistan appoints A Military Attaché in Moscow
Afghanistan Times | 18th March
Afghanistan has introduced a new military attaché to the Afghan embassy in Moscow who has been accepted by Russian authorities.
Ahmad Zmarak Yaser has recently been introduced as the military attaché in Moscow and has begun his duties, the source said Tolo news.
Afghan administration has not officially confirmed the introduction of this attaché however, it stated that the interim government of Afghanistan seeks engagement with all countries, including Russia.
Afghan Girls Continue to Call for Access to Schools
TOLO News | 18th March
With the 1403 academic year starting in two days, there is still no news of the reopening of secondary and high schools for girls in the country.
Some girls above the sixth grade asked the Islamic Emirate to reopen girls schools in the new academic year.
Mozhgan hopes to go to school in the new academic year.
“We hope that a decision will be made and the girls of this land will come out of this uncertain future they are facing,” she told TOLOnews.
BANGLADESH
PM seeks Irish support to enjoy GSP in EU till 2032
Bangladesh Post | 18th March
Prime Minister Sheikh Hasina on Monday sought Ireland’s support to extend transition period of GSP for Bangladesh in the European Union (EU) market till 2032 instead of 2029 to consolidate its economic growth momentum during the LDC post-graduation period.
The premier sought this support when a high-level Irish delegation, led by Ireland’s Minister for Enterprise, Trade and Employment Simon Coveney, paid a courtesy call on her at the latter’s official residence Ganabhaban.
Inward remittances from UAE jump
Prothom Alo | 15th March
The country has received the highest amount of remittances from the United Arab Emirates (UAE) in the first eight months of the current fiscal year of 2023-24.
The second highest amount of remittances comes from the United Kingdom, the next comes Saudi Arabia, the US and Italy.
The UAE was the third and the UK the fourth in sending remittances in the last two years. Saudi Arabia was the first and the US was the second remitter during the period.
Report: Over 3.4 million children live on streets in Bangladesh
Dhaka Tribune | 18th March
Over 3.4 million children live in street situations without parental care in Bangladesh, according to a report.
The report highlights the complex difficulties and harsh realities that children living on the streets experience by presenting the voices of over 400 children from different districts.
The launching ceremony of the Qualitative Study on Children in Street Situations, part of the “Child Sensitive Social Protection in Bangladesh (CSPB) Project, Phase-II” was arranged at the National Art Gallery, Bangladesh Shilpakala Academy on Monday.
BHUTAN
BNBL introduces Foreign Currency Accounts
Business Bhutan | 19th March
To enhance financial flexibility and the ability to hold and manage funds in various currencies by its clients
In a move geared towards expanding financial options and bolstering economic resilience, The Bhutan National Bank Ltd. has introduced Foreign Currency Accounts (FCA) for its citizens. This initiative, spearheaded by the Royal Monetary Authority (RMA), aims to provide individuals with the ability to hold and manage funds in various currencies, thereby diversifying the financial landscape of the nation.
Vehicle import ban saves Nu 5.3 Billion
Kuensel | 18th March
The ban on importing vehicles could have helped Bhutan save Nu 5.3 billion in foreign reserves. This happened during the time when importing certain vehicles was not allowed, from August 2022 to December last year.
Last year, Bhutan only imported vehicles valued at Nu 926.09 million, compared to Nu 3.2 billion worth of vehicles in 2022. This marked a significant drop by 71 percent in vehicle imports.
Yet, in 2021, the value of vehicle imports was substantial, reaching Nu 4.72 billion.
MALDIVES
Government Expenditure Surpasses Revenue for First Time This Year
The Edition | 20th March
Government revenue has surpassed operating expenses for the first time this year, as per recent data disclosed by the Finance Ministry.
Revenue was at MVR 6.86 billion, while expenditure exceeded this amount, reaching MVR 7.03 billion as of the 7th of March.
The majority of the expenditure, 81 percent to be precise, was allocated to recurrent expenses, totaling MVR 5.66 billion. Notably, MVR 2.19 billion was allocated to salaries and allowances, marking an increase of approximately MVR 200 million from the corresponding period last year.
Maldives-India holds third meeting on deporting soldiers
The Sun | 17th March
The third meeting of the India-Maldives High Level Core Group was held in Male’ on Sunday.
According to the Ministry of External Affairs, India, at the third meeting, both sides reviewed the ongoing “deputation of Indian technical personnel” to enable continued operation of Indian aviation platforms providing humanitarian and medevac services to the Maldivian citizens.
Besides this, both sides also discussed on a wide range of issues related to mutual cooperation, and strengthening of bilateral ties.
Pres. grateful for Turkey’s continued support to enhance Maldives’ military capabilities
Raajje | 16th March
Maldives remains grateful for the continuous support the government of Turkey has provided to enhance the island nation’s military capabilities, says President Dr. Mohamed Muizzu.
The president said this while speaking at the ceremony held at Maafaru International Airport in Noonu atoll on Friday, to launch the Maldives National Defence Force’s (MNDF) Air Corps and Unmanned Aerial Vehicles (UAVs).
MYANMAR
Seven Myanmar Ethnic Armed Groups Revamp Peace Process Team
The Irrawaddy | 19th March
Seven of the 10 ethnic armed organizations that signed the 2015 Nationwide Ceasefire Agreement have formed a new alliance to continue peace talks with the regime, following a meeting of representatives of the organizations in the Thai city of Chiang Mai on Sunday and Monday.
The newly formed alliance replaces the Peace Process Steering Team, but shares its goals of solving political problems through inclusive dialogue and protecting civilians affected by armed conflict, Colonel Saw Kyaw Nyunt, one of its two joint secretaries, told The Irrawaddy.
Thai House Committee Proposes Four-Point Plan for Crisis in Myanmar
The Irrawaddy | 19th March
The House committee on foreign affairs has put forward a four-point action plan to help solve the crisis in Myanmar.
Noppadon Pattama, chairman of the committee and MP for the Pheu Thai Party, said the panel has been monitoring the situation in Myanmar and backs all efforts to end the crisis.
He said that the committee has come up with a four-point proposal which would help the government provide a coordinated response.
NEPAL
Finance Minister Pun, Chinese ambassador meet, discuss various issues
The Himalayan Times | 19th March
Chinese ambassador Chen Song called on Finance Minister Barshaman Pun today. According to the Minister’s Secretariat, the discussion revolved around bilateral cooperation and mutual interests. During the meeting, Minister Pun urged the Chinese side to expedite Chinese-funded development projects in Nepal, expressing his hope for rapid progress in these projects. He praised China’s economic development and measures against poverty alleviation, suggesting Nepal could learn from China’s experience.
15th Joint Commission meeting of European Union, Nepal on Tuesday
The Kathmandu Post | 18th March
The 15th meeting of the Joint Commission between Nepal and the European Union is scheduled to be held in Kathmandu on Tuesday.
Foreign Secretary Sewa Lamsal and Deputy Managing Director for Asia and the Pacific of the European External Action Service (EEAS) of the EU Paola Pampaloni will lead their respective delegations to the meeting.
The two sides will take stock of overall aspects of the bilateral relations between Nepal and the European Union, including cooperation in the regional and multilateral issues of common interests, the Ministry of Foreign Affairs said in a statement on Monday.
NEPSE: Price of 4 companies go up 10 per cent despite the market going down
Onlinekhabar | 20th March
On Wednesday, the NEPSE fell by 3.34 points and finished the day at 2063.95 points.
The market went as high as 2,084 before going down significantly finishing at 2,063.
The turnover for the day also went down. Tuesday’s turnover was Rs 3.63 billion while Wednesday’s turnover was Rs 2.49 billion.
Price of 94 companies went up, 147 went down and four remained stable.
When it comes to the sub-indices, Microfinance increased by 2.5 per cent, while the Trading group increased by 0.08 per cent.
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