Author: Tejomay Mohal Sethi

Paris (08/11 – 75) Sri Lanka’s economic and political crisis of 2022 left the country bankrupt. Ranil Wickremesinghe took over as President of Sri Lanka in July 2022 when the country was in the middle of its worst economic and political crisis since independence in 1948. His predecessor, Gotabaya Rajapaksa, had been forced out of power after facing mass protests prompted by 12-hour power cuts and persistent fuel and food shortages. The nation was bankrupt.Wickremesinghe brought in the International Monetary Fund and has focused on reaching macroeconomic stability and driving tough but much-needed structural reforms. Today, as Sri Lanka embarks…

Dubai is calling for a united front to spur the development of generative artificial intelligence to maximise its potential and reap economic benefits, the chief executive of the Dubai Future Foundation has said. Countries need to come together to prepare society for the innovation and to help bridge the gap between policies and the advancement of the emerging technology, which has a reported business opportunity of as much as $4.4 trillion, Khalfan Belhoul said at the Dubai Assembly for Generative AI conference on Wednesday. The industries with highest AI potential include banking, software and platforms, energy, communications and media, and…

Country may offer producers up to 200,000 barrel per day of alternative additional export capacity Kazakhstan is ready to start the next phase of a long-discussed expansion of its oil pipeline network aimed at offering the country’s producers to export up to 200,000 barrels per day of oil to China. Speaking this week at an industry event in Astana, Kazakh Energy Minister Almasadam Satkaliyev said a pre-front-end engineering and design study to determine the initial technical requirements for the expansion project has been completed. He said the ministry is now working with Kazakh producers to fulfil a China National Petroleum…

Copenhagen (26/10 – 76.9) UN Special Rapporteur on Freedom of Religion or Belief, Nazila Ghanea called on Tajikistan to adapt and review its laws, policies, and practices regarding religion or belief following her 10-day visit. She stated that the implementation of religious freedom and belief in the country is a cause for concern. During a press conference at the UN office in Tajikistan, she also urged Tajikistan’s authorities to “leave the past behind and protect freedom of religion and belief.” Ghanea stated, “This will contribute to development, peace, and understanding in the country. The shadow of civil war looms over…

ISLAMABAD: Pakistan and Kazakhstan have started formal talks to identify areas for promoting bilateral trade. Commerce Minister Gohar Ejaz held a virtual meeting with Minister of Trade and Integration of the Republic of Kazakhstan Shakkaliyev Arman. An official announcement issued after the meeting said Mr Arman emphasised the need for expanding cooperation in various sectors and increasing the trade volume. He expressed particular interest in exploring trade opportunities in agricultural products and the potential for transit trade and logistics through Pakistani ports of Gwadar and Karachi, facilitating access to South Asian markets. Pakistan’s mutual trade with Kazakhstan stands at $100…

Ecotourism is essentially about taking responsibility for our natural environment.In recent times, ecotourism has gained widespread popularity as people seek opportunities to connect with nature and escape the hustle and bustle of city life.Interestingly, numerous destinations across India are actively involved in conserving and promoting biodiversity. Let’s explore a few of these places. Mawlynnong Village, Meghalaya Mawlynnong is one of the cleanest villages in India. It is located in the East Khasi Hills at a distance of 90 km from the state capital Shillong.Here, the entire village actively participates in keeping the place clean. Plastic is banned here and the locals have…

The bilateral relations between Kyrgyzstan and Pakistan are based on mutual respect and a desire for exploring the untapped potential in trade, energy and tourism. These views were expressed by Editor-in-Chief Pakistan Observer Mr Faisal Zahid Malik during a call on meeting with Ambassador of the Republic of Kyrgyzstan Mr Ulanbek Totuiaev. Ambassador Ulanbek while welcoming the Chief Executive of Pakistan Observer commended his newspaper’s role in advocating Pakistan-Kyrgyzstan bilateral relations. Our relations, said the ambassador, are friendly and both the Kyrgyz Republic and Pakistan have a rich history and many things are in common from the perspective of religion,…

Slovakia has just seven months left to spend the €3.4 billion in EU funds available since 2014 – no easy task, despite the bureaucratic government’s recently increasing efficiency regarding EU spending. Slovakia’s bureaucratic government has increased the efficiency of its EU spending by 6% since taking office, though implementation was still lagging at 76% by 18 August. At the same time, the neighbouring Czech Republic has spent 92% of its allocation and is one of the top three EU countries in efficient EU fund use. “Slovakia has some gaps regarding the use of EU funds. That is why we are…

KEY POINTS U.S. private equity group Bain Capital said its recent agreement to buy Adani Capital was aimed at tapping the “underbanked” segment of India’s economy. In July, the Boston-based firm agreed to acquire 90% of Adani Capital and Adani Housing, buying out all of Indian billionaire Gautam Adani family’s private stake in the company. The deal will provide a crucial lending platform to India’s micro, small and medium enterprises — a market that is growing rapidly, said Barnaby Lyons, a partner and global co-head of Bain Capital Special Situations. “Just the structurally underbanked nature of the economy means that there is a…

After six months of trading, Uzbekistan’s FTT amounted to approximately $29.2 billion, Azernews reports, citing Kun.uz News Agency. According to the Statistics Agency, the foreign trade turnover of Uzbekistan increased by $4.7 billion or 19.4% compared to the corresponding period of 2022. During the reporting period, the republic exported goods and services worth $12.1 billion. Imports, in the meantime, amounted to $17 billion. In January-May 2023, Uzbekistan carried out trade relations with 183 countries of the world. Source: azernews