Rupee dollar exchange

The statement issued by Sri Lanka’s newly appointed Prime Minister Ranil Wickremesinghe was nothing short of an intimation, nay confirmation, of the apocalyptic economic crisis that the island nation confronts. The numbers thrown by Mr Wickremesinghe are self-explanatory of the mess that he will need to clean up to put Sri Lanka back on track. Government revenues cover only 40 per cent of the expenditure being incurred. The fiscal deficit is around 13 per cent of GDP. The foreign exchange reserves are virtually non-existent. According to Wickremesinghe, “It is a challenge for the treasury to find USD 1 million.” Petrol stocks are down to just one day. Sri Lanka is looking at power cuts of around 15 hours a day because a quarter of the electricity is produced from oil which the government has no money to buy. There are huge shortages of medicines. Shortages of virtually every other commodity, including food, are inescapable. With the government being “compelled to print money” to pay … [Read more...] about India Must Lead Quad Effort to Pull Out Sri Lanka from Clutches of China’s Debt Trap Diplomacy

The Left parties would organise a nationwide campaign between May 25 and May 31 against price rice and unemployment, said CPI leader D. Raja. Addressing reporters in Chennai on Wednesday, he said increase in the price of petroleum products had a bearing on the price of essential commodities, and inflation was going up. “People are going through hardship, but the government at the Centre remains insensitive. There is a need to strengthen the public distribution system and essential commodities should be made available,” he said, reiterating the need for releasing ₹7,500 to families living below the poverty line. Urging the government to release funds for the Mahatma Gandhi National Rural Employment Guarantee Scheme, he also wanted legislation guaranteeing urban employment. “The government should also legislate to provide for unemployment allowance and these issues will be highlighted in the campaign,” he added. Mr. Raja said the economy was in a bad shape and the value of the … [Read more...] about Left parties to campaign against price rice between May 25 and 31

The leader of the self-declared, Russian-backed Donetsk People's Republic (DNR) in eastern Ukraine reportedly wants to rebuild the heavily damaged city of Mariupol "with an emphasis on the resort business." The comments from Denis Pushilin, the head of the breakaway republic, were reported Wednesday by the Ukrainian news site Ukrayinska Pravda. He also said that a technology park or park area could be built on the site of the Azovstal steel plant in Mariupol, from which hundreds of Ukrainian fighters recently evacuated after maintaining a pocket of resistance against Russian forces at the facility, the Russian-state owned news agency RIA Novosti reported. Pushilin's stated goal of rebuilding the heavily damaged and long-besieged city with a "resort" focus came as remaining Mariupol residents reportedly struggle to find food, water and medicine after facing weeks of Russia's assault. The Mariupol City Council said in a Telegram post Wednesday that civilians currently spend … [Read more...] about Putin ally eyes decimated Ukrainian city for “resort business”

Sri Lankan police arrested two ruling party lawmakers for allegedly instigating mob violence that plunged the country into days of unrest and left nine people dead last week, officials said on May 18. The members of parliament, both from President Gotabaya Rajapaksa's party, were questioned by criminal investigators on Tuesday evening and detained overnight, a police official said, speaking on condition of anonymity. "There is direct evidence against the two MPs and that is why they were arrested," the official said. Sanath Nishantha and Milan Jayathilake were among 22 politicians - including former Prime Minister Mahinda Rajapaksa and his son Namal - whose passports were impounded last week following allegations that they instigated the violence. On May 9, thousands of ruling party supporters who were bussed into the capital attacked a peaceful demonstration by anti-government protesters demanding President Rajapaksa resign over an economic crisis that has paralysed the … [Read more...] about Sri Lankan police arrest ruling party MPs over mob violence

FOR German tourists Preminy Kangatharan and Suthushan Sivananthan, staying in Johor Baru even for just one night was a trip worth the time. The couple from Cologne, both 36, made a stop in Johor as part of their three-week trip around the world and were pleasantly surprised by the wide variety of delicious food that the southern state has to offer. Preminy, who works in the marketing sector, said the city left a lasting impression on her especially after trying the local Hainanese- style coffee at one of the kopitiam (coffeeshops) in Jalan Tan Hiok Nee. “We had such an enjoyable experience; we complimented the owner and also immediately made a positive Google review before leaving the shop. “We mostly travel for food and make it a point to sample the local delicacies. My favourite in Johor Baru is the traditional Nyonya kuih, which I bought extra. “We crossed over to Johor Baru from Singapore and will be making our way up to Kuala Lumpur. We found that things are much cheaper … [Read more...] about Border reopening brings influx of visitors