Neighborhood News Digest- 30 August 2024

Afghanistan

Termez Trade Center Opens, Boosting Afghanistan-Central Asia Ties-Tolo News

The Economic Deputy of the Office of the Prime Minister has said that Mullah Abdul Ghani Baradar, at the inauguration ceremony of the Termez International Trade Center, emphasized the importance of this center in expanding political relations, increasing exports, and connecting Central Asia with South Asia. Click here to read... [2]

Increased Trade with Turkey: Afghan Exports Up by 11%-Tolo News

The Ministry of Industry and Commerce has reported an eleven percent increase in exports to Turkey in the first five months of the year 1403 (solar calendar) compared to last year. According to officials from this ministry, in the first five months of this year, trade worth $45 million was conducted with Turkey, of which $8.3 million were exports. Click here to read... [3]

Islamic Emirate Objects to US-Uzbekistan Deal on Afghan Helicopters-Tolo News

The Ministry of Defense of the Islamic Emirate has strongly objected to the recent agreement between the United States and Uzbekistan concerning the transfer of Afghanistan’s military helicopters. In an audio clip, Enayatullah Khwarazmi, the spokesperson for the Ministry of Defense, asserted that Washington has no right to hand over these helicopters to Uzbekistan. Click here to read... [4]

Kandahar’s grape farmers suffer as climate change impacts yield-The Khaama Press

This year, unusual rains in Kandahar province have caused significant losses for grape farmers. They report a decrease of up to 15% in grape production compared to previous years. Farmers are blaming climate change for the unexpected rainfall, which has damaged their crops. Click here to read... [5]

Bangladesh

No BNP-Jamaat alliance exists now – Daily Star

BNP has been hounded over the last 18 years. The party chief, Khaleda Zia, was put in jail and not allowed treatment abroad while her son, Tarique Rahman, has been living in London since 2008 and faces a prison sentence back home. Click here to read... [6]

Adani Power refutes reports of costly power supply to Bangladesh – Daily Star

Adani Power has refuted reports in the Bangladeshi media that say that the company is supplying costly power to India's neighbouring country, CNBC TV 18 reports. Click here to read... [7]

Jaishankar: Delhi to work with current Bangladesh govt – Dhaka Tribune

Referring to changes in Bangladesh, Indian External Affairs Minister S Jaishankar on Friday said Delhi will deal with the government of the day. Click here to read... [8]

Death toll from floods climbs to 54 – Dhaka Tribune

The death toll from the recent floods in 11 districts has climbed to 54 with two more deaths reported in Feni district till Friday, according to a report of the Disaster Management and Relief Ministry. Click here to read... [9]

Bhutan

Opposition party calls for tax review in winter session-Kuensel

The Opposition Party has urged the government to review the 2022 tax revision, which is being blamed for the sharp rise in vehicle prices and other goods following the lifting of the import moratorium In a press release yesterday, the Opposition Party defended the tax measures enacted by the previous government as necessary during the economic crisis but urged the current administration to adopt a new approach that aligns with the present economic conditions. Click here to read... [10]

Turning plastic bottles into garments-Kuensel

Clean Bhutan, a civil society organisation dedicated to environmental conservation and waste management, will partner with India’s Shree Renga Polyester Private Limited, renowned for its EcoLine Clothing brand. This collaboration will bring the ‘bottle-to-garment’ concept to Bhutan, converting used PET bottles into garments. Click here to read... [11]

Bhutan to host more than 80 global thought leaders at its inaugural Innovation Forum – Deccan Chronicle

His Majesty King Jigme of Bhutan has announced the inaugural Bhutan Innovation Forum, set to take place from October 1-3, 2024, at the Dungkar Dzong in Paro. This landmark event will bring together some of the brightest minds from around the globe to explore the intersections of mindfulness, innovation, entrepreneurship, and sustainability, as Bhutan embarks on creating the world’s first “Mindfulness City.” Click here to read... [12]

Bhutan makes a bold leap toward a high-income future – East Asia Forum

Bhutan's 13th Five-Year Plan aims to transform the country into a high-income economy by 2034, focusing on rapid economic growth while maintaining its Gross National Happiness philosophy. The plan includes enhancing infrastructure, fostering innovation and developing new industries like digital economies and a mindfulness city. Click here to read... [13]

Maldives

MMA to issue green bond and arrange currency swap with India to improve reserves– Adhadhu

The Maldives Monetary Authority (MMA) has said it is preparing to issue a refinance green bond and arrange a USD 400 million foreign currency swap with the Reserve Bank of India under the SAARC framework to improve the official dollar reserves. MMA made the announcement in a statement released after American credit ratings agency Fitch downgraded the Maldives' rating to "CC" with the assumption that the country will not be able to repay foreign debt. Click here to read... [14]

Fitch downgrades Maldives rating to "CC"– Adhadhu

American credit ratings agency Fitch has downgraded the Maldives' rating to "CC" with the assumption that the country will not be able to repay foreign debt. Fitch last downgraded the country's rating in June. The rating was downgraded to "CCC+" after "B negative" over the past two years. Fitch usually changes the rating or makes a "rating revision" once a year. This is the first time a downward rating revision has been made within a short time. Rising public debt and difficulties in securing external financing were the main reasons cited by Fitch for the rating downgrade. Click here to read... [15]

MATATO backs fiscal reforms including collection of taxes in dollars– Adhadhu

The Maldives Association of Travel Agents and Tour Operators (MATATO) has backed the government’s fiscal reforms, including changing the law to require businesses earning in dollars to pay taxes and other fees to the state in dollars. In a press release, MATATO said collection of tax in dollars is "imperative and a change that will boost the economy." MATATO said it recognizes the importance of effective fiscal policies and the need for reforms that enhance revenue collection and address inefficiencies within the system. Click here to read... [16]

Pres and First Lady depart on an unofficial visit to Singapore- Avas

President Dr. Mohamed Muizzu and First Lady Madam Sajidha Mohamed have departed for Singapore on an unofficial visit. The First Couple left on Monday evening, shortly after the President attended a rally at the ruling PNC headquarters. The First Couple departed for Singapore on the evening of August 26, after the president attended a rally held by the ruling PNC at its headquarters. Click here to read... [17]

Government planned and tried to push "financial coup" narrative– Adhadhu

The government tried to push the narrative that a coup attempt was happening on Sunday after the national bank decided to suspend dollar transactions from Rufiyaa accounts, some people who received instructions from government officials have said. Some media outlets and social media users posted that the opposition Maldivian Democratic Party (MDP) held a press conference regarding the economic situation and fake accounts were used to call to overthrow the government when the BML decision was announced. Several journalists said President's Office Communications Minister Ibrahim Khaleel instructed their outlets to push that narrative. Click here to read... [18]

Pakistan

Pakistan awards $2 billion KKH contract to China-The Express Tribune

Pakistan on Thursday relaxed bidding rules to directly award a $2 billion contract to China for the construction of a strategically important road and also approved Rs78 billion in incentive package for its banks and exchange companies to boost foreign remittances. Finance Minister Muhammad Aurangzeb-led Economic Coordination Committee (ECC) of the cabinet approved to invoke a special rule to exempt the requirement for the international competitive bidding to award a contract to Chinese firms for the construction of a section of the Karakoram Highway. Click here to read... [19]

Pakistan to pay Rs18.7 trillion in debt this year: Finance ministry-The Express Tribune

The federal government has released details of national and foreign debt up to June this year, as reported by the Ministry of Finance. The data was presented to the National Assembly. As of June this year, Pakistan’s domestic debt stood at Rs71 trillion, comprising over Rs47 trillion in domestic loans and more than Rs24 trillion in foreign debt. This means that 66% of the total debt is domestic, while 34% is foreign. Click here to read... [20]

On Quetta visit, PM Shehbaz says Balochistan attacks ‘wicked scheme’ devised by terrorists-Dawn

Prime Minister Shehbaz Sharif on Thursday said that the recent deadly terrorist attacks in Balochistan were a “wicked scheme” devised by militants, as he visited the province to assess the security situation there. In the latest flare-up of violence, dozens of militants affiliated with the banned Balochistan Liberation Army (BLA) — a separatist outfit — launched numerous attacks on Sunday midnight across Balochistan, targeting security personnel as well as civilians. Click here to read... [21]

Privatisation of 13,000 schools: Govt to pay monthly Rs650 per student to private sector in Punjab-Dawn

The Punjab government on Thursday initiated privatisation of 13,000 public schools across the province with an aim of bringing about transformation in the education sector. This move is part of the government’s broader Public-Private Partnership (PPP) model, aimed at enhancing the quality of education and increasing accessibility for millions of students. Click here to read... [22]

Sri Lanka

India’s National Security Advisor Ajit Doval meets President – Daily Mirror

India's National Security Advisor Ajit Doval met President Ranil Wickremesinghe at the Presidential Secretariat this morning, the President's Media Division (PMD) said. Click here to read... [23]

President vows to appoint committee to expedite laws against corruption – Daily Mirror

President Ranil Wickremesinghe said he will appoint a committee to look into matters regarding the enactment of new laws against corruption. Speaking at the ceremony to launch his election manifesto, he said the committee will comprise members appointed by the Speaker, professional association, the Bar Association of Sri Lanka (BASL) and the Chamber of Commerce. Click here to read... [24]

NPP manifesto will reduce state revenue by Rs 200 billion: President – Daily Mirror

Pledges made by National Peoples Power (NPP) if implemented will reduce annual state revenue by Rs 200 billion, President Ranil Wickremesinghe said yesterday. Speaking during a rally in Mawanella, Mr. Wickremesinghe said the tax reductions pledged by the NPP manifesto will result in a fall of the Sri Lankan economy. Click here to read... [25]