Author: Mahavir Sumila

Sri Lanka’s president said Wednesday he was seeking a moratorium on foreign debt repayments until 2028, following a government default during the island nation’s unprecedented economic crisis two years ago. A collapse in foreign exchange reserves saw months of food and fuel shortages along with street protests that forced the ouster of President Ranil Wickremesinghe’s predecessor in 2022. Sri Lanka has since signed up to an International Monetary Fund rescue package and is working to repair public finances since the government default in April of that year. Wickremesinghe said talks were still ongoing with both bilateral and private creditors to…

Sanjiva Weerawarana is a Sri Lankan success story. He founded enterprise software firm WSO2 in 2005, got it close to $100 million in ARR as its CEO, then sold it to private equity firm EQT for $600 million in May. He sometimes drives for Uber, too. Sri Lanka isn’t renowned for its startup ecosystem, but one company has been something of an outlier in the South Asian island nation these past two decades. WSO2, an open source enterprise software provider with customers such as Samsung, Axa, and AT&T, recently agreed to be acquired by private equity giant EQT, at a valuation TechCrunch reported at the time…

Dhaka (5/8 – 57/14). Bangladesh Prime Minister Sheikh Hasina flees on Monday multiple sources said, as more people were killed in some of the worst violence since the birth of the South Asian nation more than five decades ago. Estimates of the death toll reach up to 300 killed in unrests. Army chief General Waker-Us-Zaman said in a televised address that Hasina had left the country and that an interim government would be formed. Media reports said she had flown in a military helicopter with her sister and was headed to India. Various television channel said she had landed in…

Europe’s new “Iron Lady”, Estonia’s Kaja Kallas, is one of the strongest voices for an uncompromising stand against belligerent Russia. Brussels (30 June – 28). Having grown up under the Soviet occupation of Estonia, Kaja Kallas was urging EU leaders to take the Russian threat seriously long before the invasion of Ukraine On Saturday, the Reform Party chose climate minister Kristen Michal to replace outgoing Kaja Kallas, who is the EU’s new High Representative for Foreign Affairs and Security Policy. The unanimous decision to nominate Michal was made following a closed-door meeting by the party’s governing board only two days after…

June 21 — The European Union announced on Friday that it will begin accession negotiations with Ukraine and Moldova to join the 27-member political and economic bloc starting next week. All 27 members agreed to the Ukraine and Moldova joining the European Union. Negotiations will begin for both countries on Tuesday in Luxembourg, the Belgian Presidency of the Council of the European Union said on X. The move comes at a critical time for both nations with Ukraine in the middle of an invasion by Russia and Moldova facing a Russian-led insurgence by a breakaway state. Ukrainian President Volodymyr Zelensky thanked the European Union for its…

The head of Britain’s domestic intelligence agency warned the country’s leading research universities on Thursday that foreign states are targeting their institutions and imperiling national security. “We know that our universities are being actively targeted by hostile actors and need to guard against the threat posed to frontier research in the most sensitive sectors,” said the deputy prime minister Oliver Dowden, who also attended the briefing. The threat requires “further measures,” said the deputy PM, who announced that the government was launching a consultation with the sector so it could “do more to support our universities and put the right…

The primary purpose of Xi Jinping’s three-day visit to Hungary might be to ensure that Hungary can help China gain market share in the EU, as Beijing and Budapest prepare to sign a total of 16 bilateral agreements. The Chinese president has arrived in Budapest late Wednesday, in the third and last stop of his European visit. During his three-day stay, Xi Jinping and his delegation are expected to conclude a series of economic agreements with Budapest, as China sees Hungary as an important bridgehead in conquering European markets: among other things, Chinese companies are building electric car and battery factories.…

Prince Rahim Aga Khan, representing the Aga Khan Development Network (AKDN), recently engaged in asignificant dialogue with Kyrgyzstan’s President Sadyr Japarov, underlining their shared commitment toadvancing sustainable development in the country. The meeting, held at the Ala Archa State Residencein Bishkek on March 1, highlighted the importance of collaboration in addressing critical issues such asclimate change, education, economic opportunity, and cultural preservation.President Japarov welcomed Prince Rahim’s visit, acknowledging the AKDN’s longstanding contributionsto Kyrgyzstan’s socio-economic progress. He expressed gratitude for the AKDN’s efforts in improvingliving conditions, particularly in mountainous regions, and invited further partnership in combatingclimate change, conserving biodiversity, and enhancing…

Dushanbe 25/2 (35.71) The social networking activity of “influencer” Ismoil Mahmadzoir is causing a stir within the country’s political and security corridors. His grandfather President Emomali Rahmon is planning his succession, which has triggered quiet maneuvering within elite factions, including Mahmadzoir’s relatives. Nobody is clear about how becomes the next president of Tajikistan. The daughters jockeying for the top job besides the grandson.Video of a bland speech by Tajikistan’s long-time President Emomali Rahmon was posted late last month on Instagram by Buzkashi_1111, a handle created by Ismoil Mahmadzoir, the 25-year-old son of Firuza Emomali, one of the president’s daughters, who…

The parliaments of Iran and Tajikistan signed a memorandum of understanding (MoU) on Monday to expand cooperation between the two legislative bodies. The signing ceremony, reported by the Iranian Students’ News Agency, took place in Tehran, with Iranian Parliament Speaker Mohammad Baqer Qalibaf and National Assembly of Tajikistan Chairman Rustam Emomali leading the initiative. The agreement was further endorsed during a meeting between Emomali and Iranian President Ebrahim Raisi, who emphasized the importance of this collaboration as a support for the political and economic partnerships between the two nations. President Raisi also highlighted the role of bilateral cooperation in combating…