Maldives-China agreement is to obtain military equipment, to strengthen independence: Presidence
The Edition | 6th March
President Dr Mohamed Muizzu has revealed last night that the military assistance agreement entered into by Maldives and China concerns getting non-lethal military equipment and military training from China, and added that this would assist in further strengthening Maldives’ independence and autonomy.
The Ministry of Defence announced that a military assistance agreement has been signed by Minister of Defence Mohamed Ghassan Maumoon and Deputy Director of the Office for International Military..
Shehbaz takes oath as new PM, orders negotiations with IMF
Dawn | 5th March
Prime Minister Shehbaz Sharif was administered oath to the coveted office of the country’s chief executive by President Arif Alvi in a ceremony at the President House, in which KP Chief Minister Ali Amin Gandapur was conspicuous by his absence amid allegations of election rigging by his party, the PTI.
Soon after assuming charge of his office, PM Shehbaz chaired a meeting on matters related to the economy and ordered talks with the IMF for an extended facility. He was briefed by the finance secretary on the occasion. He also ordered tax refunds…
Measles cases surge in Afghanistan
The Khaama Press | 4thMarch
The World Health Organization (WHO) has reported an increase in measles cases over the past two months.
The organization stated on Sunday, March 4 that children under five years old constitute 80% of the suspected measles cases.
According to the World Health Organization’s report, more than seven thousand suspected cases of measles were registered in the country in just the first two months of the current year, with 29 deaths reported.
Severe winter colds and inadequate coverage of immunization programs …
PAKISTAN
SBP achieves 60% financial inclusion
The Express Tribune | 5th March
Pakistan has significantly expanded the reach of banking services to encompass 60% of the adult population, including 43% female citizens. This achievement comes alongside the introduction and induction of innovative digital banking, underlining the belief that financial inclusion is a fundamental right that aids in alleviating poverty and fostering equitable economic growth.
The access to banking services has more than doubled compared to the recent past when it stood at 25-30% of the adult population.
Narendra Modi congratulates Shehbaz Sharif on assuming office
The News | 5th March
A day after Shehbaz Sharif was sworn in as the country’s 24th prime minister, India’s PM Narendra Modi congratulated the Pakistani premier on his second term as the country’s chief executive.
In a statement issued on the Indian premier’s official X handle, Modi said: “Congratulations to @CMShehbaz on being sworn in as the prime minister of Pakistan”.
The development comes a day after President Arif Alvi administered the oath to Shehbaz after he was elected as the prime minister for a second term following his 16-month-long stint in the top office from April 2022 to August 2023.
SRI LANKA
UK calls for all political parties in SL to honour IMF programme
Daily Mirror | 6th March
British High Commissioner Andrew Patrick emphasized the need for the main three parties, if not all the major parties, to recognize the agreement with the International Monetary Fund (IMF).
In an interview with Daily Mirror, he said, “I know it’s a debated issue here, whether the government should have entered into an IMF deal and what the future of the IMF deal is.
The High Commissioner made such remarks in the wake of the main parties making various remarks about the IMF programme. They even vowed to renegotiate the programme.
Parate Suspension: Sri Lanka’s debt recovery dilemma
The Island | 6th March
The Cabinet of Ministers is reported to have approved a temporary suspension of Parate Executions until 15 December 2024 aiming to alleviate the strain on small and medium-sized enterprises (SMEs) grappling with financial challenges.
Parate execution
‘Parate’ is a Dutch term which means immediate. It’s a non-court procedure.
In this process, banks can take possession of borrowers’ properties but cannot own them.
AFGHANISTAN
UN states that aid programs in Afghanistan are encountering a shortage of funds
Afghanistan Times | 3rd March
The United Nations Office for the Coordination of Humanitarian Affairs (OCHA) has highlighted the limited financial support from the international community, risking the suspension of numerous relief programs in Afghanistan. In a report released today, Sunday, March 3rd, OCHA disclosed that out of the requested three billion dollars for humanitarian efforts in 2024, only a fraction has been secured.
OCHA underscored the challenges, stating that of the proposed 3.06 billion budget, a mere 87 million dollars have been received, imperiling the continuity of essential programs.
Kabul Rejects Intl Community Criticism Over Women’s Rights
TOLO News | 5th March
The Islamic Emirate rejects global institutions’ criticism of the human rights situation in the country.
Following the recent remarks of the United Nations Human Rights Council’s Special Rapporteur for Afghanistan on human rights abuses in the country, the spokesperson for the Islamic Emirate accuses this organization of violating human rights in Afghanistan.
“They use the issue of human rights as a tool for their political goals and want to achieve their political objectives through this issue, which they will not reach, and their condition is also unjustified,” said Zabiullah Mujahid, the spokesperson for the Islamic Emirate.
BANGLADESH
PM for common currency of Muslim countries to boost trade
Bangladesh Post | 5th March
Prime Minister Sheikh Hasina on Tuesday said that the Muslim countries could introduce a common currency, like the European Union (EU), to boost trade and commerce among them as a delegation of D-8 Trade Ministers called on her.
“It would be very good, if we, the Muslim countries, can introduce a common currency like EU to facilitate trade and commerce among us,” she said.
Prime Minister’s Speechwriter Md Nazrul Islam briefed reporters after the call on of the delegation of D-8 Trade Ministers led by Turkish Deputy Minister of Trade Mustafa Tizcu at the premier’s official residence Ganabhaban.
Power & energy sector needs $30 bln in 5 yrs, state minister seeks China’s help
Prothom Alo | 4th March
A specialised team could be formed to widen the scope of investment in the power and energy sector, said state minister for power, energy and mineral resources Nasrul Hamid.
He said Bangladesh will require an investment of US $30 billion in the next five years in the sector. China as a friendly country could be by the side of Bangladesh at a larger scale, he added.
The state minister for power, energy and mineral resources said this as China ambassador to Bangladesh Yao Wen paid a courtesy call on him at the ministry Monday.
Dhaka air quality remains unhealthy
Dhaka Tribune | 6th March
Dhaka’s air quality was marked “unhealthy” on Wednesday morning. With an air quality index (AQI) score of 157 at 9:11am, Dhaka ranked 9th on the list of cities worldwide with the worst air quality.
Vietnam’s Hanoi, Iraq’s Baghdad and Pakistan’s Lahore, occupied the first three spots in the list, with AQI scores of 286, 176 and 184, respectively.
An AQI between 101 and 150 is considered unhealthy, AQI between 201 and 300 is said to be very unhealthy, while a reading of 301+ is considered hazardous, posing serious health risks to residents.
BHUTAN
Indian support sought for the Economic Stimulus Fund
Business Bhutan | 2nd March
One of the main pledges of the Peoples Democratic Party (PDP) was the mobilization of the Nu 15 billion economic stimulus plan, which the party had said was ready to be injected as a means to resolve Bhutan’s macroeconomic issues. Speaking to the Bhutanese mainstream media during the new government’s first Meet the Press, Prime Minister (PM) Tshering Tobgay said that the task force behind the stimulus plan has already begun to work and that the findings have been presented to the Cabinet, which would be discussed in a later date. The media was also informed that the government will be seeking support from the Indian government.
Need to achieve climate resilience through green financing
Kuensel | 6th March
In a pivotal step towards combating climate change, Bhutan may have to embrace innovative financing solutions, particularly in the realm of green financing.
Green financing involves investing in projects that mitigate climate change and promote sustainable development and environmental conservation.
Recent research indicates a significant rise in temperatures in the Himalayan region, including Bhutan, with an average increase of 0.8 degrees Celsius over the past century. This trend is expected to lead to more frequent and intense weather extremes, including extreme heat and cold.
MALDIVES
Maldives joins ITB Berlin ‘24 with delegation of over 200 industry reps
Sun | 6th March
Maldives Marketing and PR Corporation (MMPRC), or Visit Maldives, is participating in the ITB Berlin 2024, alongside a delegation of 214 representatives from 107 Maldivian tourism companies.
The world’s largest tourism trade fair kicked off in the German capital on Tuesday, and will continue until Thursday.
The national tourism promotion board, Visit Maldives, said it aims to foster strong connections with travel trade partners from Germany and across the globe at the fair.
Maldives’ delegation at the ITB Berlin 2024. (Photo/Visit Maldives)
MYANMAR
ASEAN Blasted For Legitimizing Myanmar’s Junta, Again
The Irrawaddy | 5th March
ASEAN’s appointment of Myanmar’s junta to coordinate relations between Russia and the regional bloc legitimizes its campaign of murder and atrocities, Justice for Myanmar said.
“The move by ASEAN legitimizes the junta as if it were the government of Myanmar and supports its deepening relationship with the Russian regime, which is the junta’s biggest supplier of arms,” the research and advocacy group said in a recent statement.
It was referring to ASEAN’s decision to appoint Myanmar – where a military regime grabbed power from a civilian government – to manage relations between ASEAN and Russia.
Myanmar’s Economic Crisis Likely to Deepen as Latest Dollar Rule Kicks In
The Irrawaddy | 4th March
The military regime has once again changed export rules to raise US dollars, but business people say its erratic and misguided policies will only deepen Myanmar’s economic crisis.
The junta-controlled Central Bank of Myanmar has once again changed a rule on foreign currency earned by exporters, raising the amount they have to sell to authorized dealers and setting the rate the dealers will pay for US dollars.
Exporters of rice, broken rice, corn, and beans and pulses have had to sell 70 percent of their US dollar earnings to authorized forex dealers at the rate of 3,088 to 3,155 kyats per US dollar, following an announcement by the central bank in the last week of February.
NEPAL
New ruling coalition struggles to strike power-sharing deal
The Kathmandu Post | 6th March
The ruling parties are struggling to strike a power-sharing deal for the distribution of ministerial portfolios, a day after Prime Minister Pushpa Kamal Dahal decided to ditch his year-long partnership with the Nepali Congress.
With Dahal deciding to join hands with the CPN-UML and the Rastriya Swatantra Party, the Nepali Congress on Tuesday decided to withdraw its support to the Dahal-led government. But the new ruling partners are finding it hard to arrive at a new power-sharing deal, just a day after they announced an eight-point agreement outlining the foundation and core objectives guiding the formation of the new government.
NEPSE: Market continues to fall finishing at 1960
Onlinekhabar | 3rd March
On Sunday, the NEPSE index declined 11.78 points finished at 1960.30 points.
The market witnessed fluctuations throughout the day reaching as low as 1947 and as high as 1974.
The total turnover for the day amounted to Rs 2.08 billion, slightly lower than the Rs 2.59 billion traded on Thursday. Among the listed companies, 67 saw an increase in value, while 173 experienced a decrease, with 8 remaining stable.
Notably, when the indicators of two groups, namely Hotels and Tourism, and Manufacturing, increased, all other groups witnessed a decline.
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