Neighborhood News Digest- 05 July 2024

Afghanistan

SCO Members: A Stable Afghanistan is Beneficial for the Region-Tolo News

The leaders of the Shanghai Cooperation Organization (SCO) member countries have reiterated in a statement that a peaceful Afghanistan is beneficial for the regional countries. Russian President Vladimir Putin, at the SCO summit in Astana, stated that the commencement of the SCO's contact group will further help in normalizing the situation in Afghanistan. Click here to read… [2]

Afghanistan Strengthens Economic, Trade Ties at Trans-Himalaya Forum-Tolo News

The Acting Minister of Economy participated in the fourth Trans-Himalayan forum for International Cooperation in China, stressing the strengthening of economic and trade cooperation. Abdul Rahman Habib, spokesperson for the Ministry of Economy, said that the meeting also discussed the economic sector, combating environmental risks, climate crisis management, and introducing economic opportunities and capacities to attract investments. Click here to read… [3]

Bangladesh

Finance division reveals austerity measures for FY25 - The Daily Star

For the sixth consecutive year, the finance division has imposed several restrictions on allocated budget expenditures, including foreign tours and block allocation, as a part of austerity measures amidst the ongoing economic crisis. Click here to read… [4]

Teesta Project: Beijing open to working with Delhi – The Daily Star

The Chinese ambassador yesterday hinted that Beijing may consider Bangladesh's proposal seeking budget support that will ease pressure on the country's foreign reserves. Click here to read… [5]

What lies ahead for BNP, allies’ simultaneous movement? – Dhaka Tribune

Following a recent three-day campaign by the BNP demanding the release of and advanced medical treatment abroad for its chairperson, Khaleda Zia, attention is now turning to the future of the party's simultaneous movement with its allies. Click here to read… [6]

Bhutan

Govt. targets doubling hydropower capacity in the 13th FYP – Bhutan Times

The Ministry of Finance secured USD 5 million concessional loan from the Asian Development Bank (ADB) for two significant hydropower projects in Bhutan. The loan, intended to update the Detailed Project Reports (DPRs) for the 404 MW Nyera Amari I and II in Samdrup Jongkhar and the 180 MW Bunakha Reservoir in Chukha, marked a crucial step in Bhutan’s ambitious energy expansion plans. The Project Preparedness Financing Agreement was signed on December 18, 2023, between the Ministry of Finance, ADB, and Druk Green Power Corporation (DGPC). This agreement encapsulated Bhutan’s commitment to advancing its hydropower capabilities and aligned with the government’s broader vision of sustainable development through renewable energy. Click here to read… [7]

Maldives

‘Maldivians with Palestine’ telethon funds handed over to foreign ministry – Raajje

The funds raised as part of the nationwide fundraising telethon campaign to help Palestinians, have officially been handed over to the Ministry of Foreign Affairs. A total of MVR 19,186,851.5 was raised in donations during the telethon. The cheque was officially handed over to Minister of Foreign Affairs Moosa Zameer by Public Service Media (PSM) during a special ceremony held on July 3. Click here to read… [8]

Discussions held on exploring Maldives-Eritrea trade, economy cooperation – Raajje

Discussions have been held on exploring cooperation on trade and economy between the government of Maldives and the government of Eritrea. This was done during a meeting Ambassador of the State of Eritrea to the Maldives Alem Tsehaye Woldemariam held with President Dr. Mohamed Muizzu, following a ceremony to present his credentials. The ceremony, held at the President’s Office on Monday, saw the Eritrean ambassador presenting his Letters of Credence to the Maldivian president. Woldemariam is the first-ever Eritrean Ambassador accredited to the Maldives. Click here to read… [9]

Myanmar

Should India review its Myanmar policy in view of the humanitarian crisis?-The Hindu

The conflict between ethnic armed organisations (EAOs) and the military junta in Myanmar has created a serious humanitarian crisis, which the United Nations Security Council took up for discussion on July 3. Some experts on Myanmar have called for India to review its policy and establish channels with the EAOs to help the affected civilians. Click here to read… [10]

Myanmar Crisis Spurs Concerns Over Rising Criminal Syndicates, Human Trafficking, Says Indian Envoy Nagesh Singh- INDIA.COM

The volatile situation in Myanmar has had a roll-on effect on its neighbours, including the countries of India and Thailand. With an array of rebel militias increasing their offensive against the Military Junta in Myanmar, parts of the country are now said to be completely out of the central government’s control. Click here to read… [11]

Nepal

Nepal PM loses majority after coalition partner quits – Times of India

Embattled Nepali Prime Minister Pushpa Kamal Dahal lost his government's majority Wednesday after his key coalition partner withdrew support, triggering fresh political uncertainty. Click here to read… [12]

Does Prachanda want to block Oli from becoming Nepal’s PM? – The Print

Is Prime Minister Pushpakamal Dahal Prachanda’s decision to not quit after the resignation of eight Cabinet ministers belonging to the largest party and face a vote of confidence in Parliament a strategy to block his former ally-turned-rival K P Sharma Oli from occupying the post? Nepali Congress (NC) president Sher Bahadur Deuba and Communist Party of Nepal-Unified Marxist Leninist (CPN-UML) chairman K P Sharma Oli, both former premiers, inked a power-sharing deal on Monday night to form a new NC-UML alliance government. Click here to read… [13]

Pakistan

Pakistan to host SCO leaders in October-Dawn

Pakistan will host the Shanghai Cooperation Organisation (SCO) heads of governments’ meeting in October, Foreign Office spokesperson Mumtaz Zahra Baloch announced at her weekly media briefing on Thursday. “Pakistan holds the rotating Chairmanship of the SCO Council of Heads of Government (CHG), which is the SCO’s second-highest decision-making forum. In this capacity, Pakistan will be hosting the SCO Heads of Governments Meeting in October this year,” Ms Baloch said. Click here to read… [14]

Qatar reaffirms pledge to support Pakistan in climate-vulnerable sectors-The Express Tribune

Qatar has reiterated its commitment to assist Pakistan in addressing climate vulnerabilities in sectors such as health, education, food security, water, and energy. This affirmation came during a meeting between a high-level Qatari technical delegation, led by Colonel Ahmed Abdullah Al-Abdullah, and Romina Khurshid Alam, the Prime Minister's Coordinator on Climate Change, in Islamabad on Thursday. Click here to read… [15]

Sri Lanka

No new yen loan from Japan until suspended project implementation is successful – Daily Mirror

Hot on the heels of the successful conclusion of bilateral debt restructuring, Japan has taken up the position that any new yen loan will be considered for Sri Lanka depending on the successful implementation of the projects suspended due to the economic crisis and subsequent confidence building, a top source said. Click here to read… [16]

President responds to petition filed to halt Presidential election - Daily Mirror

President Ranil Wickremesinghe said today that Chamindra Dayan Lenawa, who filed a fundamental rights petition before the Supreme Court to halt the Presidential election, had not consulted the President or his legal representatives before filing this application, the President's Media Division said. Click here to read… [17]