Monday, July 11th, 2022
Sri Lanka to get new president next week amid political and economic meltdown
COLOMBO: Sri Lanka’s parliament will elect a new president on Jul 20, its speaker said on Monday, after protesters stormed the residences of the current president and prime minister, who have both offered to quit amid an economic meltdown. President Gotabaya Rajapaksa, who had overseen a ruthless crushing of the Tamil Tigers insurgents as defence secretary, is set to resign on Wednesday. His brothers and nephew earlier quit as ministers as Sri Lanka began running out of fuel, food and other essentials in the worst crisis since independence from BritainRead More
Those who had power didn’t consider corruption a bad thing: Imran Khan
LODHRAN: Former prime minister and Pakistan Tehreek-e-Insaf (PTI) chairman Imran Khan on Monday lashed out over urban flooding in Sindh said that the Pakistan Peoples’ Party (PPP) has failed to address rain-related issues even in Karachi during it 15 years of rule in the province. Addressing a rally in Lodhran in connection with the July 17 by-elections, he said that Karachi is Pakistan’s economic hub and for the past 14 years it is being ruled by a dacoit who has destroyed the city. Giving example of former Punjab CM, ImranRead More
Biden goes to Riyadh: Realism may not need to trump principle
By James M. Dorsey At the core of a US policy debate over the merits of President Joe Biden’s pilgrimage, this week to the Middle East lies the question of how best to ensure regional stability and protect United States interests. Lost in the debate is whether the cost of maintaining stability by supporting autocratic rule is lower in the long term than the upfront expense of adhering to human rights principles, pluralism, and transparent and accountable governance that would initially alienate Middle Eastern partners. Mr. Biden’s visit to SaudiRead More
Pak Army, Rangers launch rescue operation as heavy rain inundates Karachi
KARACHI: Pakistan Army and Sindh Rangers have joined rescue activities in Karachi as heavy rain sinks most of the port city, ruining Eid-ul-Azha of the residents. According to details, the Pakistan Meteorological Department (PMD) has forecast light to moderate showers in the city throughout the day as humidity reaches 90 percent. Meanwhile, rescue officials said that three people died of electrocution while one side of a two-story building collapsed; however, rescue teams managed to save the people. Several main roads and streets were completely flooded and Abdullah Shah Ghazi, KPTRead More
Three killed as heavy rain sinks parts of Karachi
KARACHI: Three people were killed in rain related incidents after heavy rainfall sunk part of the metropolis including Defense, ruining Eid-ul-Azha of the residents. According to details, the Pakistan Meteorological Department (PMD) has forecast light to moderate showers in the city throughout the day as humidity reaches 90 percent. Meanwhile, rescue officials said that three people died of electrocution while one side of a two-story building collapsed; however, rescue teams managed to save the people. Several main roads and streets were completely flooded and Abdullah Shah Ghazi, KPT and SubmarineRead More
China lockdown worries hit Asian equity, crude markets
HONG KONG: Asian markets and oil prices mostly fell Monday with a fresh Covid flare-up in Shanghai fanning fears of another economically painful lockdown in China’s biggest city. The news came after a forecast-busting US jobs report last week indicated the world’s top economy was coping so far with the Federal Reserve interest rate hikes, giving it room for more as it battles soaring inflation. Traders are also keeping tabs on developments in Washington as President Joe Biden weighs removing some of the Donald Trump-era tariffs on Chinese goods worthRead More