Crisis by jasiah clean

Colombo, Sri Lanka Sri Lanka's new prime minister said on Monday the crisis-hit nation was down to its last day of petrol, as the country's power minister told citizens not to join the lengthy fuel queues that have galvanized weeks of anti-government protests. Ranil Wickremesinghe, appointed prime minister on Thursday, said in an address to the nation the country urgently needed $75 million in foreign exchange to pay for essential imports. "At the moment, we only have petrol stocks for a single day. The next couple of months will be the most difficult ones of our lives," he said. "We must prepare ourselves to make some sacrifices and face the challenges of this period." Surgery by mobile phone light and reusing catheters: Sri Lanka's economic woes push hospitals to the brink of disaster Two shipments of petrol and two shipments of diesel using an Indian credit line could provide relief in the next few days, he added -- but … [Read more...] about Sri Lanka down to last day of petrol, Prime Minister tells crisis-hit nation

Colombo, Sri Lanka (CNN) Sri Lanka's Prime Minister, Mahinda Rajapaksa, resigned on Monday, following weeks of protests against his government. The country has been rocked by civil unrest since March, with demonstrations at times turning violent as anger builds over the government's apparent mishandling of Sri Lanka's worst economic crisis since declaring independence from Britain in 1948. A nationwide curfew was imposed after clashes broke out between supporters of the ruling party and anti-government demonstrators in the capital city, Colombo, the police said Monday. The restrictions were announced shortly before Rajapaksa announced his resignation. Anti-government protesters attacked buses carrying local officials who traveled to Colombo on Monday morning to attend a meeting with the Prime Minister, according to the national police. Mahinda Rajapaksa pictured at his swearing in ceremony as prime minister in August 2020. At … [Read more...] about Sri Lanka’s prime minister resigns amid protests over economic crisis

Barring a miracle of biblical proportions, the Biden administration’s disastrous record on – well, there are actually too many issues to name – will result in the Democratic Party losing its slim majorities in both chambers of Congress. By default, Republicans are almost certain to be in charge of the legislative branch of government in 2023 and will have to demonstrate to the American public that they are up to the task of remedying the countless crises wrought by the Biden administration. One of those crises is the self-inflicted mess at the border. Even White House spin doctors haven’t found a way to blame Putin for that one. President Biden and his hand-picked Secretary of Homeland Security, Alejandro Mayorkas, did it all by themselves with Democrats on Capitol Hill marching along. As the minority party, Republicans have been able to rail against the administration’s blatant subversion of our immigration laws and the grievous harm that is being inflicted on the country, but … [Read more...] about MEHLMAN: If The GOP Takes Congress In November, They Will Have A Mandate To End The Border Crisis

Lidia Kelly (Reuters) Melbourne, Australia   ● Tue, May 17, 2022 2022-05-17 11:00 0 02c2f042c5018a82e8094ec752470bcf 2 Economy commodity,Trade,food Free Russia's foreign ministry said on Monday that attempts by the West and the Group of Seven (G7) in particular to isolate Moscow have worsened global food shortages. G7 foreign ministers promised on Saturday to reinforce Russia's economic and political isolation, continue supplying weapons to Ukraine and work to ease food shortages stemming from Russia's Feb. 24 invasion of its neighbor. Before the war, Ukraine and Russia combined accounted for about 29 percent of wheat production for the world market. Russia is also a major exporter of fertilizer, oil and gas. "Attempts to divert Russia economically, financially and logistically from long-standing channels of international cooperation are only exacerbating economic and food crises," the foreign ministry said in a statement on its website. "It should … [Read more...] about Moscow says G7 attempts to isolate Russia make global food crisis worse

After 13 grueling years of political debate, Congress passed a bill that enabled some of the largest infrastructure spending in U.S. history—an almost 20% increase over the annual federal public works budget. advertisement The spending created clean energy, jobs, addressed environmental issues (while creating others), and ultimately, while backstopped by Congress, paid for itself. If this sounds too good to be true—it isn’t—because this happened in 1928. The spending was for the Hoover Dam. And while there were other projects part of the “infrastructure stimulus” of that era, this iconic project is a great representation of the good and bad of a meaningful infrastructure spend. Over the past 10 years, infrastructure has become an outsized and unrequited topic—it has featured prominently in presidential campaigns, has been the subject of many (mostly unpassed) bills and hundreds of conferences, and marketed in at least a dozen “Infrastructure Weeks.” Will it be said … [Read more...] about Infrastructure 2021: Delivering more sustainable and equitable infrastructure

Representative image (AP Photo/Mukhtar Khan) Kartik Bommakanti A year after India and China’s decision for a mutually-agreed withdrawal from the Kailash Range, which India occupied in late August 2020, and China’s occupation of the ‘fingers’ area on Pangong Tso, signalled a shift in de-escalating a crisis that began in May 2020, with China’s seizure of Indian-claimed territory in Eastern Ladakh. In early August 2021, India and China completed disengagement from Gogra. The fingers area and Gogra are the only two areas among the five pieces of territory that China occupied in May 2020, where disengagement has occurred. China is still in possession of Depsang, Demchok, and Hot Springs. Some prominent analysis has focused on the failure of the Bharatiya Janata Party (BJP)-led Union government’s China policy, because of its incapacity to get the Chinese to vacate the remaining areas under their control. This is generally accurate and fair. Having secured a Chinese withdrawal … [Read more...] about India-China Ties | Lack of accountability, consensus puts India on the back foot

Representative Image | Wheat sacks are loaded onto a truck at the grain market in Punjab. The Commerce Department had fought the plan to ban the export of wheat even as the Agriculture Ministry sounded the alarm on the fast-reducing estimates of wheat production due to the heatwave, officials told Moneycontrol . They added that the Ministry of External Affairs (MEA) had supported keeping exports under bilateral arrangements since the Prime Minister and External Affairs Minister have till now been requested by leaders from many countries to help ensure their food security in the face of a global shortage of wheat. On May 13, India banned wheat exports with immediate effect as the world's second-largest wheat producer attempted to stabilise rising domestic prices. The government also struggled with the public procurement process, which received a low response from farmers who continued to sell at much higher prices to traders. The ban came in the backdrop of official … [Read more...] about Exclusive | Commerce Department pushed to keep wheat exports open but agri ministry wanted ban

Representative Image India has prohibited wheat exports with immediate effect, according to a government notification issued late Friday, as the world's second-largest wheat producer attempts to stabilise domestic prices. However, export shipments for which irrevocable letters of credit (LoC) were issued on or before the date of this announcement will be approved, according to a May 13 notification from the Directorate General of Foreign Trade (DGFT). "The export policy of wheat is prohibited with immediate effect," the DGFT said. It also clarified that wheat exports will be allowed on the basis of permission granted by the Government of India to other countries to meet their food security needs and based on the request of their governments. Following a nearly 40% rise in global rates in the aftermath of the Russia-Ukraine crisis, and also as India ramped up exports, wheat and cereal prices rose in India. The country is expected to face a shortfall of the cereal in the … [Read more...] about India prohibits wheat exports with immediate effect

Stocks are falling after hiring in January blew past expectations, raising concerns that the Federal Reserve will lift interest rates aggressively to prevent the economy from overheating. The U.S. added 467,000 jobs last month, the Labor Department reported today. That crushed economists' expectations for 150,000 hires, driving stocks lower despite Amazon.com, Inc. ( AMZN ) gaining after a solid earnings report . Key Takeaways Stocks are falling for a second day after January hiring crushed expectations and raised concerns that the Federal Reserve will lift interest rates aggressively. Amazon is gaining around 10% and Snap more than 40% after reporting solid earnings growth. The yield on the 10-year Treasury note jumped past 1.9%, its highest in more than a year. Crude oil soared past $90 per barrel. The Dow Jones Industrial Average , S&P 500 , and Nasdaq indexes are all lower, following big declines in each yesterday. Crude oil soared past $90 per … [Read more...] about Stocks Drop as Blowout Jobs Report Increases Rate-Hike Jitters

U.S. equity markets are falling, with the Nasdaq sinking deeper into correction territory as shares of streaming service providers drop. Key Takeaways U.S. equity markets are falling, on their way to further weekly declines, as the Nasdaq sinks deeper into correction territory. Shares of streaming service providers are dropping after Netflix reported slowing subscriber growth. Crude oil futures are falling for a second day. The yield on the 10-year Treasury note is sinking, now at 1.76%. Netflix, Inc. ( NFLX ) is the worst-performing stock in the S&P 500, with shares plunging on its slowing subscriber growth. The news is dragging down shares of The Walt Disney Company ( DIS ) and others in the online entertainment sector. Shares of smaller banks are continuing their week-long decline, led by Huntington Bancshares Incorporated ( HBAN ) following its earnings report. Shares of Intel Corporation ( INTC ) and other semiconductor companies are higher on … [Read more...] about Nasdaq Correction Deepens as Stocks Slide on Rate Concerns