Metro Observer Daily

  COLOMBO, June 7 (Reuters) - Sri Lanka will need $5 billion over the next six months to ensure basic living standards, and is renegotiating the terms of a yuan-denominated swap worth $1.5 billion with China so as to fund essential imports, the prime minister said on Tuesday. The island nation's worst economic crisis in seven decades led to a shortage of foreign exchange that stalled imports of essential items such as fuel, medicine and fertiliser, provoking devaluation, street protests and a change of government. To tide over the turmoil, Sri Lanka will need about $3.3 billion for fuel imports, $900 million for food, $250 million for cooking gas and $600 million more for fertiliser this year, Prime Minister Ranil Wickremesinghe told parliament. The central bank has estimated the economy will contract by 3.5% in 2022, Wickremesinghe said, but added that he was confident growth could return with a strong reform package, debt restructuring and international support. "Only establ...

  The multilateral exercise comes at a time when China is expected to launch its third aircraft carrier (Type 003) this month as the Ukraine war has cast a long war shadow over Beijing’s objective of incorporating Taiwan using force. India is sending a stealth frigate and a P8I anti-submarine warfare reconnaissance aircraft for 26 nation biennial Rim of the Pacific (RIMPAC) exercise from June 29 to August 4 in the contested Indo-Pacific with exercises around Hawaiian Islands and Southern California. To know more:  https://www.hindustantimes.com/india-news/rimpac-to-showcase-maritime-might-china-to-launch-third-aircraft-carrier-101654492239237.html

  Elon Musk has been voicing his opinion over the fears of a population collapse for quite some time now. Elon Musk has yet again raised an alarm on Twitter over a possible  “population collapse”,  which, according to him, the world may see in near future. The 50-year-old tech billionaire has been voicing his opinion on the matter for quite some time now. This time, he took China’s example to bolster his argument. “Most people still think China has a one-child policy. China had its lowest birthrate ever last year, despite having a three-child policy! At current birth rates, China will lose ~40% of people every generation! Population collapse. (sic),” Musk tweeted in response to a BBC article The  article says that the Asian country’s  population grew from 1.41212 billion to just 1.41260 billion in 2021 – a record low increase of just 480,000. From 2.6 in the late 1980s, China’s birth rate has dropped from 2.6 in 1980s to 1.5 in 2021, the report further highlight...

 The General Assembly will take up the issue at 10 a.m. New York time on Feb. 28, Secretary General Antonio Guterress announced India’s Permanent Representative to the United Nations T.S. Tirumurti speaks during the UNSC meeting, in New York The United Nations Security Council (UNSC), on February 27 afternoon, voted to convene an emergency special session of the General Assembly to consider a resolution, vetoed by Russia on Friday, on the situation in Ukraine. The resolution condemned Russia’s aggression and calling for it to withdraw from Ukraine unconditionally. The General Assembly will take up the issue at 10 a.m. New York time on Feb. 28, Secretary General Antonio Guterress announced. India, along with China and the U.A.E., abstained from Sunday’s vote, as was the case on Friday. Russia voted against the resolution and eleven UNSC members voted in favour of it. Given the vote was procedural, no country had a veto, and the resolution was adopted. “The global order is anchore...