Connect with us

World

Sri Lanka’s unions begin ‘Week of Protests’ as economic crisis deepens

Trade unions are starting their “Week of Protests” on Monday, demanding Sri Lanka’s government change and its president step down over the country’s worst economic crisis in memory.

The Indian Ocean island nation is on the brink of bankruptcy and has suspended payments on its foreign loans. Its economic woes have brought on a political crisis, with the government facing widespread protests and a no-confidence motion in Parliament.

For the latest headlines, follow our Google News channel online or via the app.

Unions called for protests throughout this week, trade union activist Saman Rathnapriya said, and more than 1,000 unions representing health, port, education, and other key service sectors have joined the “Week of Protests" movement.

He said during the week, the workers will stage demonstrations at their workplaces across the country. At the end of the week, they will launch a huge march up to Parliament, demanding President Gotabaya Rajapaksa’s removal and a new government.

For several months, Sri Lankans have endured long lines to buy fuel, cooking gas, food and medicine, most of which come from abroad. Shortages of hard currency have also hindered imports of raw materials for manufacturing and worsened inflation, which surged to 18.7 percent in March.

People blocked main roads to demand gas and fuel. On Sunday, local television channel Hiru showed people in some areas fighting over fuel.

Sri Lanka was due to pay $7 billion of its foreign debt this year out of nearly $25 billion it must pay by 2026. Its total foreign debt is $51 billion.

Sri Lanka’s finance minister announced earlier this week that the country’s usable foreign reserves have plummeted below $50 million. As oil prices soar during the Russia-Ukraine conflict, Sri Lanka’s fuel stocks are running out. Authorities have announced countrywide power cuts will increase to about four a day because they can’t supply enough fuel to power generating stations.

Protesters demanding Rajapaksa’s resignation reached the 31st day occupying the entrance to the president’s office.

Protesters at the president’s office have been demanding that the president, his older brother Prime Minister Mahinda Rajapaksa and other powerful Rajapaksa family members quit. Similar protests have spread to other locations, with people setting up camps opposite the prime minister’s residence and in other towns across the country.

So far, the Rajapaksa brothers have resisted calls to resign, though three Rajapaksas out of the five who were lawmakers stepped down from their Cabinet posts in April.
Protesters have crowded the streets since March, maintaining that Rajapaksa and his family — who have dominated nearly every aspect of life in Sri Lanka for most of the last 20 years — are responsible for the crisis.

On Friday, Rajapaksa declared a state of emergency, which empowers him to authorize detentions, property seizure and search of any premises. He can also change or suspend any law in the interests of public security and for the maintenance of essential supplies. Diplomats and rights groups have expressed concern over the move.

Sri Lanka has been holding talks with the International Monetary Fund to get an immediate funding facility as well as a long-term rescue plan but was told its progress would depend on negotiations on debt restructuring with creditors.

Any long-term plan would take at least six months to get underway.

Read more: Sri Lanka crisis will last at least two more years: Finance minister

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

World

Crown Prince of Abu Dhabi meets with CEOs of leading Norwegian companies

H.H. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, has met with a group of CEOs from leading Norwegian companies, as part of their participation in the UAE-Norway Investment Forum, held alongside his official visit to the Kingdom of Norway.

During the meeting, H.H. Sheikh Khaled bin Mohamed bin Zayed underscored the UAE leadership’s commitment to strengthening economic cooperation with its international partners.

He highlighted that investment in innovation and knowledge is a cornerstone for achieving sustainable development, noting that enhancing collaboration with Norwegian companies across key sectors will open new avenues for mutual economic growth between the two countries.

The UAE-Norway Investment Forum, taking place in Oslo, aimed to highlight available investment opportunities and strengthen trade relations between the UAE and Norway, fostering shared interests and supporting innovation and knowledge-based economic visions.

-wam

Continue Reading

World

At the Indonesia International Book Fair 2024, TRENDS inaugurates 10th global office, releases four books

As part of its Asian research tour, partnership with Aletihad News Center, and
primary sponsorship of the Indonesia International Book Fair 2024, TRENDS
Research & Advisory inaugurated its office in Jakarta, marking its 10th location
worldwide. It also released four books in Indonesian.
The inauguration event was attended by ambassadors of the UAE, Bahrain, and
Jordan to Indonesia, chairpersons of the UAE and Indonesian Publishers’
Associations, the Director of TRENDS’ Jakarta office, and a group of researchers
and academics.
Speaking at the event, Dr. Mohammed Abdullah Al-Ali, CEO of TRENDS
Research & Advisory, stated that TRENDS’ international offices—set to reach 15
by the end of 2024—aim to enhance the Center’s research efforts and deepen its
role in disseminating knowledge, thus serving as a global knowledge bridge.
He emphasized, “At TRENDS, we believe in the importance of cooperation
between think tanks and prioritize this endeavor. We believe the TRENDS office in
Jakarta will enhance the exchange of knowledge and ideas between think tanks in
Asia and the Middle East, opening new horizons for collaboration in various
fields.”

Four books in Indonesian
As part of the Jakarta office’s inaugural activities, four books were released in
Indonesian, including the 11th and 12th books of the Muslim Brotherhood
Encyclopedia and Global Trends in AI and Automation and the Future of
Competition between Man and Machine: An Analytical Forward-looking Vision.

Hostility to Arab states
The 11th book of the Muslim Brotherhood Encyclopedia, The Concept of the State
According to the Muslim Brotherhood, highlights its hostile stance toward Arab
states since its inception. The group views them as an obstacle to its ascent to
power. It opposed the modern principles upon which these states were built,
considering them incompatible with the group’s unique interpretation of Islam,
which it claimed to embody exclusively.

Exclusion of nonconformists
The 12th book, The Muslim Brotherhood: Rejection of Tolerance and Exclusion of
Nonconformists, examines the Muslim Brotherhood’s stance towards
nonconformists, individuals, and entities. The book reveals the group’s binary view
of the world, categorizing others as allies or adversaries. It ties these relationships
to the Brotherhood’s internal power struggles and self-serving interests.

Global Trends in AI
The third book, Global Trends in AI, explores significant developments in AI and
its impact on various aspects of life, including the economy, society, and
governance. It also offers a comprehensive analysis of technological advancements
in AI, its applications across sectors, the ethical and social challenges it presents,
and its future trajectory.

Automation

The fourth book, Automation and the Future of Competition between Man and
Machine: An Analytical Forward-looking Vision, addresses the growing challenges
faced by the human workforce in the face of widespread automation and AI
applications. The book concludes that while automation presents a significant
challenge to the labor market, it simultaneously creates new opportunities. It
emphasizes the importance of preparing for this shift through skills development,
continuous education, and adopting economic and social policies that support the
workforce.

Prominent pavilion and active presence
The TRENDS’ pavilion at the Indonesia International Book Fair has attracted
numerous visitors, including academic researchers and officials, such as the
ambassadors of the UAE, Bahrain, Qatar, Jordan, and Turkey. Additionally,
chairpersons of Arab and Indonesian publishers’ associations, authors, publishers,
and students visited the pavilion. All were impressed with and praised TRENDS’ diverse, valuable publications. They also commended TRENDS’ active
international presence and ability to address global developments with rigorous
analytical research.
Dr. Mohammed Abdullah Al-Ali honored the esteemed guests, including
ambassadors of the UAE and Bahrain to Indonesia, Wedha Startesti Yudha,
Chairperson of the Indonesia International Book Fair Committee, Arys Hilman
Nugraha, Chairman of the Indonesian Publishers Association, and others,
presenting them with TRENDS’ publications and commemorative shields.
Additionally, he awarded TRENDS’ Research Medal to Ni Made Ayu Martini
Indonesian Deputy Minister of Marketing, Tourism and Creative Economy
It is worth noting that during its current Asian research tour, TRENDS announced
the launch of the TRENDS Research Medal, awarded to individuals who make
significant contributions to the development of scientific research and promote collaboration with TRENDS in strengthening a culture of research across various fields.

Continue Reading

World

US determined to prevent full-scale war in Middle East, Joe Biden tells UNGA79

US President Joe Biden highlighted the US Administration’s determination to prevent a wider war that engulfs the entire Middle East region, noting that a diplomatic solution “remains the only path to lasting security to allow the residents from both countries to return to their homes on the border safely”.

In remarks he made today before the 79th Session of the United Nations General Assembly (UNGA79), the US President said, “Full-scale war is not in anyone’s interest,” adding that a diplomatic solution is still possible.

He also touched on “the rise of violence against innocent Palestinians on the West Bank”, and the need to “set the conditions for a better future”, which he said featured “a two-state solution, where the world — where Israel enjoys security and peace and full recognition and normalised relations with all its neighbours, where Palestinians live in security, dignity, and self-determination in a state of their own”.

President Biden underscored the ceasefire and hostage deal put forth by Qatar and Egypt, which the UN Security Council endorsed. He said, “Now is the time for the parties to finalise its terms, bring the hostages home,” adding that this would help ease the suffering in Gaza, and end the war.

-WAM

Continue Reading

Trending