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☆ Should you check emails on vacation or face a ‘tidal wave’ of messages later? These CEOs have some ideas
▼ + stars: | 2023-05-22 | by ( Monica Pitrelli | ) www.cnbc.com time to read: +6 min

Should you check email on vacation or face a tsunami of messages once you're back at the office? An 'email intervention'Robinson launched an "Email Intervention Campaign" earlier this month to deal with issues like "vacation email panic," he told CNBC Travel. "I encounter tons of people who are burned out from email," said work-life speaker and consultant Joe Robinson. Robinson advises companies to create defined email policies, ideally ones which give workers permission not to check email on vacation. Don't respond (if you don't have to) Emails proliferate like rabbits, said Joe Robinson.

☆ Bangladesh struggles to pay for fuel imports as dollar crisis worsens -letters
▼ + stars: | 2023-05-22 | by ( Ruma Paul | ) www.reuters.com time to read: +3 min

DHAKA, May 22 (Reuters) - Bangladesh is struggling to pay for imported fuel because of a dollar shortage, letters reviewed by Reuters show, with the state petroleum company owing more than $300 million as it faces an "alarming decrease in fuel reserves". Heavily reliant on energy imports, Bangladesh is grappling with power cuts resulting from a fuel shortage that have badly hurt its exports-oriented garments industry. BPC imports 500,000 tonnes of refined oil and 100,000 tonnes of crude oil every month. The April letter said several fuel suppliers had either sent fewer cargoes than scheduled or threatened to halt supplies. Others in South Asia, such as Sri Lanka and Pakistan, have also sought or received IMF funds this year.

☆ Japan's G7 refugee balancing act: door open for Ukrainians, but not many others
▼ + stars: | 2023-05-19 | by ( Elaine Lies | ) www.reuters.com time to read: +5 min

The generosity towards Ukrainian evacuees, however, will highlight the stark contrast against Japan's track record with asylum seekers, experts and advocates say, with hopes for broader refugee policy reform still distant. Ukrainians have entered Japan under a framework set up specifically for them and are referred to as evacuees rather than refugees. "We want the world to know how bad Japan's refugee recognition system is," said Keiko Tanaka, head of Osaka-based refugee assistance group Rafiq, noting the group would hold a press conference on Sunday when the G7 summit wraps up. Private charity Nippon Foundation gave her 1 million yen ($7,400)- an annual grant it extends exclusively to Ukrainian evacuees. Advocates are guardedly hopeful the Ukrainian presence could change Japan's overall refugee policy, but Temple University Japan's political science professor James Brown thought it unlikely.

☆ Russia admits there are 'problems' with energy revenues plunging over 50% in the first quarter of 2023 — and blamed them on 'all these discounts': report
▼ + stars: | 2023-05-18 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Siluanov blamed "all these discounts" for causing a 50% slump in energy revenues in the first quarter of 2023, per the FT. Russia exported an average of 7.7 million barrels of crude oil each day in 2022. Willing buyers of Russian oil include China and India, which now account for about 90% of Russian oil purchases, commodities analytics firm Kpler said in April. India and Chinese oil buyers, too, demand huge discounts for their Russian oil purchases. Russia's flagship Urals crude is trading at around a $20 per barrel discount to benchmark US and Brent crude oil currently.

☆ Chinese fishing boat capsizes in Indian Ocean, 39 crew members missing
▼ + stars: | 2023-05-17 | by ( ) www.reuters.com time to read: +1 min

BEIJING, May 17 (Reuters) - A Chinese fishing vessel with 39 crew members on board has capsized in the Indian ocean and President Xi Jinping has ordered that all efforts be made to search for survivors, state media reported on Wednesday. The distant-water fishing vessel "Lupeng Yuanyu 028", owned by Penglai Jinglu Fishery Co Ltd based in Shandong province, capsized early on Tuesday, state-run CCTV reported. The 39 people on board - 17 Chinese crew members, 17 Indonesians and five from the Philippines - were missing, CCTV said. Xi said all efforts should be made for the rescue and early warning alerts of safety risks would be strengthened for distant-sea operations, CCTV reported. Reporting by Ethan Wang and Bernard Orr; Editing by Robert BirselOur Standards: The Thomson Reuters Trust Principles.

☆ He makes the best baguette in Paris, but he’s not French
▼ + stars: | 2023-05-16 | by ( Oliver Briscoe | ) edition.cnn.com time to read: +4 min

Paris CNN —The humble baguette is the epitome of French baking. The perfect loaf, delicately crusty outside, soft and airy inside, is worth the airfare to Paris all on its own. For the contest, bakers are judged specifically on their “baguette de tradition,” a designation that differentiates good-quality loaves from industrially made rivals. Polski is a veteran of the Paris contest, having presided over it for almost a decade. There is not one neighborhood today without fresh bread, Polski says.

☆ Opinion | At 75, Israel Has Plenty to Celebrate
▼ + stars: | 2023-05-16 | by ( Bret Stephens | ) www.nytimes.com time to read: +2 min

The Jewish state turned 75 on Sunday, mostly in a sour mood. The country is governed by a coalition that includes political extremists, proud homophobes, ideological monomaniacs, and the merely corrupt. Its peer group of countries includes Syria, Pakistan, India, Indonesia, Myanmar, Sri Lanka and North and South Korea. As with Israel, many of those problems still dog most of those states. Those who think the Palestinian issue is unique should consider the situation of Kashmiris in India, Tamils in Sri Lanka, or Kurds in Syria.

☆ IMF official says Sri Lanka reforms critical, evaluating progress
▼ + stars: | 2023-05-15 | by ( Uditha Jayasinghe | ) www.reuters.com time to read: +2 min

COLOMBO, May 15 (Reuters) - The International Monetary Fund (IMF) mission in Sri Lanka will evaluate progress made on reforms so far and complete an exercise to improve governance in key areas of the economy, an IMF official said on Monday. An IMF team is in Colombo until May 23 as part of regular consultations ahead of the first review mission later this year. "It is now essential to continue the reform momentum," said Krishna Srinivasan, Director of Asia Pacific Department at IMF. Sri Lanka, with the help of a $2.9 billion bailout from the global lender, is trying to recover from its worst financial crisis since gaining independence in 1948 and turn around its battered economy. Peter Breuer, IMF Senior Mission Chief for Sri Lanka, Asia and Pacific Department said the lender will be looking at whether the government's macro framework is still appropriate or whether it requires revisions.

☆ China's rising clout spotlighted at finance chief meetings before G7 summit
▼ + stars: | 2023-05-15 | by ( Tetsushi Kajimoto | ) www.reuters.com time to read: +4 min

China is among the biggest markets for most G7 countries, particularly for export-reliant economies such as Japan and Germany. In a joint statement on Saturday, the G7 finance chiefs stressed the urgency of addressing debt vulnerabilities in low- and middle-income countries, mentioning Zambia, Ethiopia, Ghana and Sri Lanka. "There were talks about coercion" at the G7 finance leaders' meeting, the Japanese finance ministry official said. The G7 summit will most likely have a special session on China to debate Beijing's "economic coercion" against other countries, according to a Reuters report. "No matter how the G7 want to fence in the Global South, it's not easy," said Atsushi Takeda, chief economist at the Itochu Economic Research Institute.

ACCRA, May 14 (Reuters) - Ghana expects the International Monetary Fund to approve a first loan tranche of $600 million as soon as Wednesday, paving the way for disbursement within a week, Minister of State in the Finance Ministry Mohammed Amin Adam told Reuters on Sunday. Ghana is seeking $3 billion from the Fund to shore up its battered economy. On Friday, IMF Managing Director Kristalina Georgieva said Ghana's official creditors had provided the necessary financing assurances for the IMF Executive Board to look at signing off on the loan. Adam said he expected negotiations with both sets of creditors to go well once the IMF signs off on the loan. Adam said the government was also in talks with the African Development Bank for over $100 million for the stability fund.

☆ Analysis: North Africa backslides toward swirling debt troubles
▼ + stars: | 2023-05-11 | by ( Marc Jones | ) www.reuters.com time to read: +6 min

Making debt payments could become almost impossible. EGYPTEgypt's finances also look stretched despite it securing a $3 billion IMF rescue plan in December. The rating agency, which downgraded Egypt's credit rating again on Friday, highlights that only default-stricken Sri Lanka would need to pay more. "It would not be immaterial if it were to default" Ross said about the impact on global money managers. "These very wealthy Gulf countries have generally enhanced financial stability in the region," via their support he added.

The U.S. debt crisis is a headache for Japan, which is this year's G7 chair and the world's biggest holder of U.S. debt. Five more countries were invited to the outreach including Brazil, India and Indonesia - but not China - although emerging nations' debt problems will feature high on the agenda. On the other hand, Tokyo is courting China to join a creditor nations' meeting it initiated to resolve Sri Lanka's debt. "The agenda of talks show how G7 is becoming increasingly politicized in nature, with an emphasis on countering China." The International Monetary Fund last month trimmed its 2023 global growth outlook and warned a severe flare-up of financial system turmoil could slash output to near recessionary levels.

☆ Pakistan will do anything to get cheap oil as its economic crisis drags on — including paying for it in the Chinese yuan
▼ + stars: | 2023-05-10 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

An energy official signaled the country could use the CNY to pay for Russian crude oil, per a report. Pakistan, a country mired in an economic and political crisis, has become the latest to signal using the Chinese currency to make cross-border payments for Russian oil. "Pakistan will pay the price of crude most probably in China's currency — yuan," an unnamed Pakistan energy ministry official told the media outlet. Pakistan's purchase of Russian oil comes also amid sweeping sanctions against Moscow over its invasion of Ukraine. Russia's flagship Urals crude is trading at around a $20 per barrel discount to benchmark US and Brent crude oil currently.

☆ Sri Lanka Supreme Court clears path to decriminalize homosexuality
▼ + stars: | 2023-05-09 | by ( ) edition.cnn.com time to read: +1 min

CNN —Sri Lanka’s Supreme Court has given the green light to a bill seeking to decriminalize homosexuality, the speaker of parliament said on Tuesday, in a move hailed as a “historic development” by campaigners. The Supreme Court, after hearing more than a dozen petitions on both sides of the argument, ruled it was not unconstitutional, Speaker of Parliament Mahinda Yapa Abeywardena said. “The Supreme Court is of the opinion that the bill as a whole or as any provision thereof is not inconsistent with the constitution,” the speaker told parliament. Activists will still have to lobby for support from the 225 parliamentarians to push forward the proposed legislation through parliament. This Supreme Court decision is major for the community in terms of any kind of progress they have seen over the last couple of years,” Coswatte added.

☆ Sri Lanka Supreme Court clears path for decriminalisation of homosexuality
▼ + stars: | 2023-05-09 | by ( Uditha Jayasinghe | ) www.reuters.com time to read: +2 min

LGBTQ+ rights activists in Sri Lanka have been campaigning for years to change the law in a country where homosexuality is still punishable by a prison sentence and a fine, leading to the private member's bill presented in parliament last month. The Supreme Court, after hearing more than a dozen petitions on both sides of the argument, ruled it was not unconstitutional, Speaker of Parliament Mahinda Yapa Abeywardena said. “The Supreme Court is of the opinion that the bill as a whole or as any provision thereof is not inconsistent with the constitution,” the speaker told parliament. Activists will still have to lobby for support from the 225 parliamentarians to push forward the proposed legislation through parliament. This Supreme Court decision is major for the community in terms of any kind of progress they have seen over the last couple of years," Coswatte added.

☆ Sri Lanka's creditor nations to meet despite uncertainty on China
▼ + stars: | 2023-05-09 | by ( ) www.reuters.com time to read: +1 min

TOKYO, May 9 (Reuters) - As Sri Lanka's creditor nations prepare for their first meeting on Tuesday to co-ordinate restructuring of the Indian Ocean nation's debt, the focus is turning to whether China will attend. Last month France, India and Japan unveiled a common platform for talks among bilateral creditors to co-ordinate restructuring of Sri Lanka's debt. Sri Lanka owes $7.1 billion to bilateral creditors, government data show, with $3 billion owed to China, followed by $2.4 billion to the Paris Club and $1.6 billion to India. The government also needs to renegotiate more than $12 billion of debt in eurobonds with overseas private creditors, and $2.7 billion on other commercial loans. Sri Lanka has kicked off talks to rework part of its domestic debt and aims to finalise the deal by May.

☆ Sri Lanka's economy to shrink by 2% in 2023, central bank says
▼ + stars: | 2023-04-27 | by ( Uditha Jayasinghe | ) www.reuters.com time to read: +1 min

NEW DELHI, April 27 (Reuters) - Sri Lanka's economy is expected to shrink by 2% in 2023, its central bank said in an annual report on Thursday, as the country struggled to emerge from its worst financial crisis in decades. The central bank projected Sri Lanka's economy would grow by 3.3% in 2024, according to the report. The World Bank estimates Sri Lanka's economy will contract by 4.3% in 2023. "Sri Lanka's economy has been gradually stabilising since mid-2022. Sri Lanka, which defaulted on its foreign debt a year ago, is currently negotiating its debt repayments with bondholders and bilateral creditors.

☆ More than two-thirds of elephant habitat lost across Asia, study finds
▼ + stars: | 2023-04-27 | by ( Helen Regan | ) edition.cnn.com time to read: +6 min

CNN —Elephants have lost almost two-thirds of their habitat across Asia, the result of hundreds of years of deforestation and increasing human use of land for agriculture and infrastructure, a new study has found. The study found that the greatest decline in elephant habitats was in China, where 94% of suitable land was lost between 1700 and 2015. Meanwhile, more than half of suitable elephant habitats have been lost in Bangladesh, Thailand, Vietnam and Indonesia’s Sumatra. The era also saw “new value systems, market forces, and governance policies” reaching beyond the cities of Europe into the forests of Asia – speeding up elephant habitat loss and the fragmentation of the species, the study found. Habitat loss also means elephants are migrating from their usual territories, creating “challenges for human communities that have little experience with elephants,” the study said.

☆ Inflation in Sri Lanka is coming down but it's still 'hard on the people,' says opposition MP
▼ + stars: | 2023-04-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInflation in Sri Lanka is coming down but it's still 'hard on the people,' says opposition MPHarsha de Silva, member of Parliament of Sri Lanka and economist, says, however, that "things are stabilizing."

☆ Sri Lanka trying to reduce overall debt by $17 bln, president says
▼ + stars: | 2023-04-26 | by ( Asiri Fernando | ) www.reuters.com time to read: +1 min

COLOMBO, April 26 (Reuters) - Sri Lanka is trying to reduce its overall debt by $17 billion through restructuring, its president told the parliament on Wednesday as he sought support of opposition parties for a nearly $3 billion International Monetary Fund (IMF) programme. President Ranil Wickremesinghe also said the country would discuss debt restructuring with India and the Paris Club of creditors on one platform and with China separately. Sri Lanka owes $7.1 billion to bilateral creditors, according to official government data, with $3 billion owed to China, $2.4 billion to the Paris Club and $1.6 billion to India. Wickremesinghe said no final decision had been taken yet on domestic debt restructuring. Sri Lanka needs to accelerate growth to 6% or higher by 2028 or 2029 to repay debt and develop, he added.

☆ Punjab's Arshdeep back in his element after fixing no-ball tendency
▼ + stars: | 2023-04-23 | by ( ) www.reuters.com time to read: +2 min

The problem persisted in the subsequent home series against New Zealand but Arshdeep was back in his element against Mumbai. It helped me with the no-ball problem," he said after claiming 4-29 in the high-scoring heart-stopping match. But Cameron Green (67) and Rohit Sharma (44) led a robust reply from Mumbai and then Suryakumar Yadav smashed 57 off 26 balls. Arshdeep was even more impressive, conceding just two runs and breaking the middle stumps of Tilak Varma and Nehal Wadhera in successive deliveries. "I guess Danny you should come next to me and feel the heart beat - it's not even close to 120," a beaming Arshdeep said.

☆ 8 Books for Anyone Curious About Meditation
▼ + stars: | 2023-04-22 | by ( Hope Reese | ) www.nytimes.com time to read: +1 min

But, with so many options, it’s easy to reach for titles that aren’t meant for beginners, said Sara Lazar, director of the Lazar Lab for Meditation Research at Massachusetts General Hospital. So we asked half a dozen meditation experts — teachers, spiritual leaders‌ and scientists — about their favorite beginner-friendly books. This is, by no means, an exhaustive list, but these titles might help you cultivate a practice. 1.‌ “Mindfulness in Plain English” by Bhante Henepola Gunaratana‌This straightforward and accessible guide, written by the Sri Lankan Buddhist monk playfully nicknamed Bhante G, is a favorite among meditation teachers and scientists alike. Written in 1994, the book presents a clear picture of mindfulness and meditation and provides insights on how to begin a practice.

☆ Yellen raps China for serving as 'roadblock' in debt restructuring process
▼ + stars: | 2023-04-20 | by ( Andrea Shalal | ) www.reuters.com time to read: +3 min

Yellen said the United States expected China to make good its pledge to work constructively on issues such as debt relief and climate change, noting that delays in restructuring raised costs for both borrowers and creditors. IMF chief Kristalina Georgieva said on Friday that the new Global Sovereign Debt Roundtable had made "tangible progress" on debt restructuring issues. "China's participation is essential to meaningful debt relief, but for too long it has not moved in a comprehensive and timely manner. The United States and China - as the world's largest economies - had a responsibility to work together to help emerging markets and developing countries facing debt distress, she said. Yellen said Washington was working with other stakeholders to improve the Group of 20's Common Framework process for low-income countries and the overall debt treatment process, adding, "Solving these issues is a true test of multilateralism."

☆ Opinion | China’s Lending Practices Are Not a Good Look
▼ + stars: | 2023-04-19 | by ( Peter Coy | ) www.nytimes.com time to read: +1 min

This is undoubtedly a factor in China’s diminished standing in the world. Playing ball really would promote “peace and development for all humanity” while winning China some badly needed friends in the world. The explanation for China’s tough stance is discouraging for the short term but possibly encouraging for the long term. But there are signs that China’s leaders will eventually come around to seeing the value of working with the I.M.F. “In more and more countries, Suriname and elsewhere, we’re starting to see more coordination between the People’s Bank of China, the I.M.F.

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