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"We have denied permission to the rally by the Hindu United Front. The port is of strategic importance to both India and billionaire Gautam Adani, Asia's wealthiest man and the world's third-richest. Critics say Adani, who comes from the same state as Modi, has benefited from the policies of the federal government. Earlier, Hindu United Front member C Babu told Reuters they would go ahead with the rally. The Adani Group has said in court filings that the protests have caused "immense loss" and "considerable delay".

☆ Israeli ambassador to India apologises after filmmaker's remarks spark uproar
▼ + stars: | 2022-11-29 | by ( ) www.reuters.com time to read: +2 min

MUMBAI, Nov 29 (Reuters) - An Israeli filmmaker's criticism of a film depicting the exodus of India's majority Hindu population from the disputed region of Kashmir has sparked an uproar in India and prompted an apology from the Israeli ambassador. "Calling it 'ugly' and 'propaganda' is uncalled for and beyond any film Jury’s mandate. Naor Gilon, Israel's ambassador to India, Sri Lanka and Bhutan, apologised on Twitter. Prime Minister Narendra Modi has praised the film, which focuses on the violent upheaval of 1989-90 in Kashmir. But some critics said the film may fan anti-Muslim sentiment in a country they fear is being polarised along religious lines.

☆ Police in India's Kerala step up security after clashes over Adani port
▼ + stars: | 2022-11-29 | by ( Jose Devasia | ) www.reuters.com time to read: +3 min

[1/3] Police officers are deployed as fishermen protest near the entrance of the proposed Vizhinjam Port in the southern state of Kerala, India, November 9, 2022. REUTERS/Munsif VengattilKOCHI, India Nov 29 (Reuters) - Police in southern India on Tuesday ramped up security around Vizhinjam port being built by billionaire Gautam Adani's group after scores of people were injured during clashes with protesters from a fishing community over the weekend. Kerala state police were sending reinforcements to the Vizhinjam area to prevent further violence, he added. The Adani Group says the port complies with all laws and cited studies that show it is not linked to shoreline erosion. Five years ago, Australian environmental activists had launched a "Stop Adani" movement to protest his Carmichael coal mine project in Queensland state.

[1/5] Policemen are deployed as people from the fishing community protest near the entrance of proposed Vizhinjam Port in the southern state of Kerala, India, November 29, 2022. The port is of strategic importance to both India and Adani, Asia's wealthiest man and the world's third-richest. The Adani Group has said in court filings that the protests have caused "immense loss" and "considerable delay". The Adani Group says the port complies with all laws and has cited studies that show it is not linked to shoreline erosion. Adani has previously faced protests in Australia, where environmental activists had launched a "Stop Adani" movement to protest his Carmichael coal mine project in Queensland state.

[1/2] Police officers are deployed as fishermen protest near the entrance of the proposed Vizhinjam Port in the southern state of Kerala, India, November 9, 2022. REUTERS/Munsif VengattilKOCHI, India Nov 28 (Reuters) - As many as 36 police were injured in clashes with protesters in India's southern state of Kerala who were demanding the release of a person arrested during a demonstration against a $900-million port project of the Adani Group, officials said. The location of the port on India's southern tip is seen as key to winning business from ports in Dubai, Singapore and Sri Lanka. Over the weekend, protesters blocked Adani's construction vehicles from entering the port, despite a court order for work to resume, prompting the arrest of many of them. Police attacked the protesters, among whom were some priests, said a clerical official, Eugine H. Pereira, the vicar general of the archdiocese.

[1/2] Police officers are deployed as fishermen protest near the entrance of the proposed Vizhinjam Port in the southern state of Kerala, India, November 9, 2022. "We won't let them in," a protestor was seen screaming at police officers near the port entrance site. The Adani Group has said the project was in full compliance with all laws and that many studies in recent years have rejected allegations linking the project to shoreline erosion. The Kerala state government says erosion has occurred due to natural disasters. A previous attempt by Adani in October to move trucks out of the port also failed.

"The Egyptian pound will likely remain under pressure until more U.S. dollar inflows from GCC (Gulf nations) and committed foreign direct investment materialises," said Carla Slim at Standard Chartered Bank. Last month's IMF deal has provided some respite. ,"Egypt has got a high debt load and arguably it is more vulnerable even than Pakistan in terms of debt payments as a share of revenues," said Renaissance Capital's chief economist Charlie Robertson. "But the difference is, it has been proactive and been quick to go to the IMF," Robertson added, noting Egypt also has strong support from rich Gulf countries. Egypt's IMF negotiations dragged on for seven months and drove its second big devaluation of the year.

☆ The situation in Sri Lanka has stabilized: Former central bank director
▼ + stars: | 2022-11-25 | 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 EmailThe situation in Sri Lanka has stabilized: Former central bank directorRoshan Perera, former director of the Central Bank of Sri Lanka, says that Sri Lanka is still 'not out of the woods' until the central bank implements controls, but says the economic situation has improved from a few months ago.

Emerging economies started hiking before the Fed, and quickly, partly because their currencies had weakened against the dollar, raising funding costs and importing inflation. That had quickly fed through to prices, especially energy and some food commodities that are generally traded in dollars. "Total reserves in the emerging markets had fallen by over $400 billion, down 7%, this year as of September." ECB & BOJAt the ECB, the Fed's signal bolsters an already strong case for more measured rate hikes after back-to-back 75 basis point moves and eases growth concerns. Slower Fed rate hikes also help the Bank of Japan, whose ultra-low rates have been criticised for fuelling a sharp yen decline that inflates the cost of imports.

COLOMBO, Nov 24 (Reuters) - Sri Lanka's central bank on Thursday threatened administrative intervention to control high market interest rates that it regarded as out of line with the inflation outlook. Any such action, interpreted by economists as meaning it might push market rates down, would lower the government's high borrowing costs. However, it was unclear how the central bank could force investors to support public finances at lower rates than they expected. "If an appropriate downward adjustment in the market interest rates would not take place in line with the envisaged disinflation path, the central bank will be compelled to impose administrative measures to prevent any undue movements in market interest rates," CBSL said in a statement. "The statement was quite aggressive in saying they are prepared to use non-policy rate tools to nudge market rates, including deposit rates, lower," he added.

COLOMBO, Nov 24 (Reuters) - Sri Lanka's central bank held interest rates steady on Thursday, as widely expected, but said it expected a moderation in market interest rates in line with prevailing policy rates. The Standing Lending Facility (LKSLFR=ECI) rate was held steady at 15.50% while the Standing Deposit Facility Rate (LKSDFR=ECI) was kept unchanged at 14.50%. "If an appropriate downward adjustment in the market interest rates would not take place in line with the envisaged disinflation path, the central bank will be compelled to impose administrative measures to prevent any undue movements in market interest rates," it added. Thirteen out of 15 economists and analysts polled by Reuters had forecast the central bank's interest rates to remain unchanged as it waited to see effects of its earlier hikes to filter through to prices and the broader economy. Sri Lanka, which defaulted on its foreign debt repayments in May, secured a preliminary IMF deal for a $2.9 billion bailout in early September.

[1/5] Women from a fishing community attend a protest against the construction of the proposed Vizhinjam Port in the southern state of Kerala, India, November 9, 2022. A $900 million project to build India’s first container transhipment port has been stalled due to protests by the region’s fishing community who believe it will destroy their livelihood. The fishing community erected the shelter after years of failed efforts to get the Kerala government to intervene while watching the coast steadily erode. "This is a matter of providing jobs to the many localities here," said Mukkola G Prabhakaran, a Kerala state council member in Modi's Bharatiya Janata Party. Accusing the Kerala state police of being "mute spectators", the Adani conglomerate has also called for federal police to be brought in.

COLOMBO, Nov 22 (Reuters) - Sri Lanka's central bank is expected to keep rates steady as inflation shows signs of easing and as authorities focus on discussions to secure a $2.9 billion International Monetary Fund (IMF) bailout to stabilise its crisis-hit economy. If global economic stress starts to ease and if Sri Lanka secures an IMF deal before next March we can expect rate cuts in mid-2023," said Visaahan Arumainayagam, analyst for Colombo-based brokering firm Asha Securities. After hitting an annual peak of 68.9% in September with food inflation climbing to 93.7%, consumer inflation moderated slightly to 66% in October. read moreAn acute dollar shortage has left Sri Lanka struggling to pay for essential imports of food, fuel and medicine, with all eyes on the IMF bailout to try and stabilise the nation's perilous debt situation and finances. "Sri Lanka is in need of some deep economic reforms which are politically challenging, overcoming this will be difficult."

☆ Nomura warns seven emerging economies face currency crisis danger
▼ + stars: | 2022-11-22 | by ( Marc Jones | ) www.reuters.com time to read: +2 min

LONDON, Nov 22 (Reuters) - Nomura has warned that seven countries - Egypt, Romania, Sri Lanka, Turkey, Czech Republic, Pakistan and Hungary - are now at a high risk of currency crises. Based on data from 61 different EM currency crises since 1996, Nomura estimates that a score above 100 indicates a 64% chance of a currency crisis in the following 12 months. Default-stricken Sri Lanka and currency crisis-regular Turkey both generate scores of 138, while the Czech Republic, Pakistan and Hungary notch 126, 120 and 100 respectively. Nomura also ran the Damocles model on the G7 group of leading economies, with the results showing that all but Japan now have Damocles scores above the 100 threshold, led by the United States and Britain. "It is somewhat surprising that there have not been more full-blown EM currency crises this year," Nomura added.

☆ I'm a digital nomad who's been to 79 countries. Finding work is easy – but living without a routine can be challenging.
▼ + stars: | 2022-11-20 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +4 min

Katie Macleod has traveled to 79 countries as a digital nomad. The 28-year-old graphic designer wants to visit 100 countries before turning 30. I was in Sri Lanka when the pandemic struck, making my goal of visiting 100 countries before turning 30 a bit more of a challenge. Traveling gives me freedom and being a digital nomad means adapting your surroundings to suit you. I've also found that networking online and within digital nomad hotspots is also beneficial.

☆ Qatar World Cup: 'Our dreams never came true.' These men helped build Qatar's tournament, now they are struggling to survive.
▼ + stars: | 2022-11-17 | by ( Aimee Lewis Pramod Acharya Sugam Pokharel | Aimee Lewis | Pramod Acharya | ) edition.cnn.com time to read: +31 min

It will be a historic event, the first World Cup to be held in the Middle East, but one also mired in controversy. He had dreamed of watching World Cup matches from the rooftop of the hotel he had helped build. In Qatar, migrant workers can now change jobs freely without permission from their employer. However, a number of European federations have issued a joint statement saying they would campaign at the tournament on human rights and for a migrant workers center and a compensation fund for migrant workers. The motto for Qatar’s bid team in 2010 was ‘Expect Amazing.’ In many ways, this year’s World Cup has replicated that maxim.

"There's now a big push to get nature into sovereign debt markets," said Simon Zadek, executive director at NatureFinance, which advises governments on debt-for-nature swaps and other types of climate-focused finance. At that level, it would be the biggest debt-for-nature swap struck to date. The combined value of swap deals to date is $3.7 billion, according to the data. Securing the buy-in of development banks is usually key for the economics of a deal. The WWF has projects in Central and South America where they are monitoring deforestation by tracking jaguars, said Brenes, who has worked on debt-for-nature swaps for the last 25 years.

☆ Russia's Lavrov went to hospital for 'checkup': Indonesia official
▼ + stars: | 2022-11-14 | by ( Associated Press | ) www.nbcnews.com time to read: +3 min

Russian Foreign Minister Sergey Lavrov visited and later left a Bali hospital ahead of the Group of 20 summit being held on the island, Indonesian authorities said Monday. Four Indonesian government and medical officials earlier told The Associated Press that Lavrov was treated at the hospital in the provincial capital, Denpasar. Lavrov is Russia’s longest-serving foreign minister since Soviet times, when Andrei Gromyko, nicknamed “Mr Nyet” in the West for his uncompromising approach, held the post for 28 years. Before becoming foreign minister, Lavrov served as Russia’s permanent representative to the United Nations. Before Russia’s invasion of Ukraine, Lavrov repeatedly dismissed U.S. and British assertions that Putin was preparing to order an invasion.

☆ Sri Lanka announces budget aimed at clinching IMF deal, sees recovery by end-2023
▼ + stars: | 2022-11-14 | by ( Uditha Jayasinghe | ) www.reuters.com time to read: +1 min

COLOMBO, Nov 14 (Reuters) - The crisis-hit Sri Lankan economy can turnaround by end of 2023 if budget policies, which are not limited to the International Monetary Fund's recommendations, are followed, President Ranil Wickremesinghe said in the budget speech on Monday. IMF recommendations have only been looked at to stabilise the economy, Wickremesinghe, who is also the country's finance minister, told parliament, delivering the first annual budget since he took office in July. The budget is likely to include specific measures aimed at reducing the government's deficit and persuading the International Monetary Fund to provide a desperately needed bailout package. Wickremesinghe said the government plans to reduce debt to less than 100% of GDP over the medium term and achieving economic growth of 7%. Reporting by Uditha Jayasinghe; Writing by Swati Bhat; Editing by Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.

☆ Sri Lanka budget to seek recovery for crisis-hit economy
▼ + stars: | 2022-11-14 | by ( Uditha Jayasinghe | ) www.reuters.com time to read: +2 min

President Ranil Wickremesinghe's first full-year budget to parliament will include measures aimed at helping Sri Lanka restructure its debt, increase revenues and trim spending as it works on the bailout with the International Monetary Fund, analysts say. "This is a budget that is being presented at a time Sri Lanka is facing an unprecedented crisis," said State Minister for Finance Ranjith Siyambalapitiya. The World Bank estimates Sri Lanka's economy will contract by 9.2% this year and 4.2% in 2023. Unable to pay for critical imports, Sri Lanka struggled to buy essentials such as fuel, and the public faced soaring inflation, a rapidly depreciating currency and sharply shrinking growth. Spending cuts will likely to be tricky, given Sri Lanka's large public workforce and high debt.

☆ China’s Global Port Investments Give Rise to Security Worries
▼ + stars: | 2022-11-13 | by ( Niharika Mandhana | ) www.wsj.com time to read: 1 min

Security concerns related to Chinese investments in overseas ports are mounting as the country’s firms acquire more stakes at shipping hubs around the world and geopolitical tensions rise. Chinese companies have expanded investments at foreign ports in recent years and now run major container terminals in locations including Belgium, Israel, Spain, Sri Lanka and the United Arab Emirates. All told, Chinese and Hong Kong-based firms hold stakes in terminal leases or concessions at 95 foreign ports, according to research by Isaac B. Kardon of the U.S. Naval War College and Wendy Leutert of Indiana University.

☆ England beat Pakistan to win T20 World Cup at MCG as Ben Stokes stars yet again in a final
▼ + stars: | 2022-11-13 | by ( David Ruse | ) www.cnbc.com time to read: +5 min

Ben Stokes of England celebrates victory following during the ICC Men's T20 World Cup Final match between Pakistan and England at the Melbourne Cricket Ground on November 13, 2022 in Melbourne, Australia. Ben Stokes starred in a final once again as England became dual white-ball world champions after overcoming Pakistan by five wickets to win the T20 World Cup at the MCG. England rallied to overpower New Zealand, edge past Sri Lanka and decimate India before seeing off Pakistan to end their opponents' hopes of winning the T20 World Cup for a second time and of repeating their victory over England at the MCG in the 1992 50-over final. Babar's exit came at the start of the 12th over with Pakistan 84-2 and they went on lose six wickets for 47 runs. England will remain in Australia to play a three-match one-day international series against Australia, beginning on Thursday at Adelaide before fixtures at the SCG on Saturday and MCG on November 22.

CNN —India’s top court on Friday ordered the release of six people convicted of killing the country’s former Prime Minister Rajiv Gandhi, 31 years after their imprisonment. The Supreme Court released Nalini Sriharan, the only woman convicted in the case, and five men, according to Anand Landge, the lawyer for the petitioners. Over the years, various Tamil Nadu governments have requested the release of those found guilty over the killing. In May, the Supreme Court ordered the release of A. G. Perarivalan, another man convicted in the case. Known as the “unwilling” prime minister who never wanted the job, Gandhi became India’s youngest leader at the age of 40 after his mother and former prime minister, Indira Gandhi, was shot dead by her bodyguards.

☆ T20 World Cup: England thrash India by 10 wickets to book place in final against Pakistan
▼ + stars: | 2022-11-10 | by ( Ali Stafford | ) www.cnbc.com time to read: +4 min

Jos Buttler and Alex Hales of England share a laugh as they celebrate victory during the ICC Men's T20 World Cup Semi Final match between India and England at Adelaide Oval on November 10, 2022 in Adelaide, Australia. An incredible unbroken opening stand between Jos Buttler and Alex Hales saw England book their place in the T20 World Cup final with a stunning 10-wicket victory over India in Adelaide. Knockout stages are about keeping calm and handling pressure and the way we started with the ball was not ideal. It shows we were a little nervy but you have to give credit to England." Watch the T20 World Cup final between England and Pakistan, at the Melbourne Cricket Ground, live on Sky Sports Cricket and Main Event on Sunday.

☆ Danushka Gunathilaka: Woman says she feared for her life during alleged rape by World Cup cricketer
▼ + stars: | 2022-11-10 | by ( Angus Watson | ) edition.cnn.com time to read: +2 min

Sydney, Australia CNN —A woman allegedly raped by a Sri Lankan World Cup cricketer in Sydney, Australia last week told police she feared for her life during the attack, according to court documents reported by CNN affiliate 7 News. Danushka Gunathilaka faces four charges of sexual intercourse without consent after being arrested by police in Sydney on November 5 – shortly after his team played their final T20 Cricket World Cup match. Gunathilaka maintains his innocence of all charges and intends to vigorously defend the matter in court, his lawyer told CNN Thursday. Police reports released by a court in Sydney on Wednesday and reported by CNN affiliate, 7 News, detail the police allegations against Gunathilaka. The law stipulates that sexual consent to one act does not guarantee consent to other acts.

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