Asia

China has delivered a confidential shipment of anti-aircraft to the Serbian military. Accordingto the report, there’s armed build up in the Balkans in the midst of war in Ukraine couldjeopardize the dainty peace of the region.According to the report, six Chinese military marking cargo planes have landed at the Belgradecivilian airport carrying surface to air missiles for the Serbian military. Though, Serbia has notgiven any formal response to the report of shipment. But this is not the first time earlier Serbiahas bought attack drones from China.The images were procured from Belgrade’s Nikola Tesla airport. Armed delivery was also doneto two NATO nations Turkey and Bulgaria; this highlights China’s increasing global reach.As stated by the Warzone online magazine ‘the Chinese Y-20 flew in ...

The sustained inflation rates and the ever-mounting evidence of China’s monetary involvementin triggering Russia’s invasion of Ukraine has left a sour taste in the mouths of investors. Notto mention, the imposed sanctions on Russia from nearly ever country in the West hasconfirmed that diplomatic ties mean nothing and provide no stability. Changing geopoliticalfacets in Russia and China means that more and more global investors are leaving, fearing theworst. But the war isn’t the only reason that investors are choosing to flee the scene.China’s tactic of increasing their bond return rates proved to be unsuccessful in capturing themarket. To make matters worse, the COVID-19 lockdowns in about 70 Chinese cities has lefta mark on the economy as well. With production shut down in China’s 13 m...

ISLAMABAD: The newly formed Prime Minister of Pakistan Shehbaz Sharif mentioned that the country’s economic situation is so detreated that even defence expenditure was fulfilled by loans. “Before the PTI government, many other expenditures have been born through debts money, but in the last regime most of the defence expenditures were met through loans,” the prime minister said while speaking at the inauguration of the mass transit bus project on Peshawar Mor to Islamabad International Airport. “The is an alarming situation in which the country cannot afford inordinate delays in development projects which are executed by means of loans,” he added. He, however, said the journey of progress of Pakistan had resumed after the four years of halted development during the PTI tenure...

Islamabad, Pakistan: Experts had urged Shehbaz to increase oil prices to avoid the swelling price differential claims that accumulated to around PKR 60 billion in only one month of April this year, the Tribune report added. The newly elected prime minister was also informed that there would be no protests if the oil prices were increased. However, protests would start if diesel was not available in the market due to the poor financial health of the oil industry. The Pakistani publication said Shehbaz had refused to increase the oil prices despite the grave situation of the oil industry. The Pakistan State Oil (PSO), earlier, had made an attempt to import diesel by floating a tender but no trader participated. It had arranged one diesel cargo at the highest premium rate of USD 13 ...

Colombo, Sri Lanka: The onset of Covid and the consequent collapse of the tourism sector are considered to be the immediate reasons for Sri Lankan economic woes. The economic crisis, being the worst in decades, has put the country on hold in every sense. The Island nation will take time to recover from this economic crisis as the country is under Chinese loans. As per the South Asian Tribune, in the past, under Mahinda Rajapaksa’s presidency in 2005, the government had aspired to turn Sri Lanka into another Singapore by constructing state-of-the-art infrastructure and ports. But the allure of Chinese loans dashed any such hope, and today Sri Lanka is hard-pressed to repay loans to the tune of $45 billion, out of which it owes China $8 billion, almost one-sixth of its total external deb...

Colombo, Sri Lanka: Jayasinghe had handed over his letter of resignation to President Gotabaya Rajapaksa. In a letter, he said that the gas crisis in the country cannot be resolved at the institution level of Litro Gas. He further stated that they need the support of those people who are involved in the overall economic structure of the country. The chairman of Litro Gas Company stated that due to the previous authorities in the institution responsible for the management of the public finances and regulation of the country’s financial management negligence and carelessness, the people suffered. He also said that the institution failed to implement the recommendations required to resolve this crisis easily. Litro recently decided to suspend gas distribution until the 17th d...

Beijing, China: It suggested that China should prioritize stability, strengthen security and guarantee resources and energy, enhance agricultural supply capacity and maintain smooth and stable supply chains. As the war between Russia and Ukraine continues, China is quietly distancing itself from Moscow as its economy is being slammed with sanctions from the US and its allies. Fears that Chinese companies could face US sanctions over ties with Russia had contributed to an epic sell-off in Chinese stocks in recent days. That slump was reversed when Beijing promised it would pursue policies to boost its sputtering economy and keep financial markets stable. Chinese banks cannot afford to lose access to US dollars, and many Chinese industries cannot afford to be deprived of US tec...

Washington, US:The meeting was held ahead of the 2+2 dialogue between the two countries.Biden said the US and India share a strong and growing “major defence partnership”.”We take the same concerns about the global challenges we face for COVID-19, advancing health security and tracking the climate crisis and we share a strong and growing major defence partnership,” Biden said.The US President also referred to the Ukraine conflict and said India and US will continue close consultation on how to manage the destabilising effects of “Russian war”.“I want to welcome India’s humanitarian support for the people of Ukraine, who are suffering a horrific assault, including a tragic shelling in a train station last week that killed dozens of innocent children and women and civilians attempting to fl...

Washington, US: United States President Joe Biden on Monday held a virtual meeting with Prime Minister Narendra Modi and welcomed India’s humanitarian support for the people of Ukraine.The meeting was held ahead of the 2+2 dialogue between the two countries.Biden said the US and India share a strong and growing “major defence partnership”. “We take the same concerns about the global challenges we face for COVID-19, advancing health security and tracking the climate crisis and we share a strong and growing major defence partnership,” Biden said. The US President also referred to the Russia-Ukraine conflict and said people in Ukraine were suffering “a horrific assault”. “I want to welcome India’s humanitarian support for the people of Ukraine, who are suffering a horrific assau...

Colombo, Sri Lanka:Locals in Sri Lanka  even the capital Colombo claimed that they are facing more than four hours of power cuts as well as acute shortages of fuel and food supply.“I have four kids to take care of. We are not giving proper food to feed them. We are drinking tea without milk because there is no milk in the market. My husband is an auto driver but during the present crisis situation his earnings have come down to zero. There is a 4-hour power cut every day so we’re using candlelight,” Ayesha, a local in Colombo said.“My husband is sitting at home and we have no money to feed our children. We have no gas left to cook food. We are in a devastated state. It is a difficult condition for everyone,” she added.Ayesha’s husband is unable to earn any money due to a shortage of ...