October 5 - Dawn report by Anwar Iqbal states that Pakistan is facing significant economic challenges, with declining growth, high fiscal and current account deficits and low levels of international reserves, says a report the International Monetary Fund (IMF) released on Thursday. The IMF end-of-mission statement acknowledges that Islamabad has recently taken some policy measures, but said those were not sufficient and “decisive policy action and significant external financing” were needed to stabilize the economy.
Law and disorder as Thai police station comes under monkey attack
- The human inhabitants of Lopburi have long suffered from a growing and aggressive monkey population
- Thousands of the fearless primates rule the streets around the Pra Prang Sam Yod temple in the center of Lopburi
BANGKOK: in central Thailand said they barricaded themselves into their own station over the weekend, after a menacing mob of 200 escaped monkeys ran riot on the town.
The human inhabitants of Lopburi have long suffered from a growing and aggressive monkey population and authorities have built special enclosures to contain groups of the unruly residents.
But on Saturday around 200 of the primates broke out and rampaged through town, with one posse descending on a local police station.
“We’ve had to make sure doors and windows are closed to prevent them from entering the building for food,” police captain Somchai Seedee said on Monday.
He was concerned the marauders could destroy property including police documents, he added.
Traffic cops and officers on guard duty were being called in to fend off the visitors, the Lopburi police said on Facebook on Sunday.
Around a dozen of the intruders were still perched proudly on the roof of the police station on Monday, photos from local media showed.
Down in the streets, hapless police and local authorities were working to round up rogue individuals, luring them away from residential areas with food.
While Thailand is an overwhelmingly Buddhist nation, it has long assimilated Hindu traditions and lore from its pre-Buddhist era.
As a result monkeys are afforded a special place in Thai hearts thanks to the heroic Hindu monkey god Hanuman, who helped Rama rescue his beloved wife Sita from the clutches of an evil demon king.
Thousands of the fearless primates rule the streets around the Pra Prang Sam Yod temple in the center of Lopburi.
The town has been laying on an annual feast of fruit for its population of macaques since the late 1980s, part religious tradition and part tourist attraction.
But their growing numbers, vandalism and mob fights have made an uneasy coexistence with their human neighbors almost intolerable.
Lopburi authorities have tried quelling instances of human-macaque clashes with sterilization and relocation programs.
Pakistan says Islamabad, Washington have ‘unique opportunity’ to revitalize partnership under Trump
- Ties between Islamabad and Washington have just started to warm after years of frosty relations
- Planning Minister Ahsan Iqbal says Pakistan desires enhanced partnership in economy, education, health
ISLAMABAD: Pakistan’s Planning Minister Ahsan Iqbal said on Monday that Washington and Islamabad have a “unique opportunity” to revitalize their partnership and tackle global challenges together under a new administration headed by President-elect Donald Trump, state-run media reported.
Ties between Islamabad and Washington, once close allies, have just started to warm after many years of frosty relations, mostly due to concerns about Pakistan’s alleged support of the Taliban in Afghanistan. Pakistan denies it supported the group.
Relations strained further under the government of former prime minister Imran Khan, who ruled from 2018-22 and antagonized Washington throughout his tenure, welcoming the Taliban takeover of Afghanistan in 2021 and later accusing Washington of being behind attempts to oust him. Washington has dismissed the accusations. Shehbaz Sharif’s government, now in its second term, has tried to mend ties but analysts widely believe the United States will not seek a significant broadening of ties with Islamabad in the near future but remain mostly focused on security cooperation, especially on counterterrorism and Afghanistan.
“Addressing a USAID event in Islamabad today, he [Iqbal] stated that the two countries have a unique opportunity to revitalize their partnership and adapt to the needs of a rapidly changing world, with a new US administration taking the helm,” Radio Pakistan said in a report.
The planning minister spoke about Pakistan’s desire to strengthen relations with the United States in key sectors such as economy, climate change, science and technology, agriculture, education and health.
The minister said that the US remains one of Pakistan’s largest trading partners, with trade exceeding $6.5 billion between the two countries in 2023. He said Pakistan’s key exports to the US include textiles, surgical instruments and IT services which contribute significantly to the country’s economy.
“He however emphasized that there is a vast untapped potential for growth,” the state broadcaster said. “He said the trade relations will not only create jobs and foster innovation but also enhance economic resilience.”
Iqbal said that while bilateral relations between Pakistan and the US have flourished, both nations need to respect each other’s sovereignty and work together constructively to address shared challenges.
“Iqbal said Pakistan-US relationship remains critical to addressing global challenges and achieving regional stability,” Radio Pakistan said.
Pakistan’s Defense Minister Khawaja Asif earlier this month signaled Islamabad’s intentions to collaborate with the new US administration where its interests were aligned. However, he cautioned that cooperation could be strained if interests diverged or Washington persisted in supporting wars in the Middle East.
Trump is widely regarded as an unpredictable leader, with analysts worldwide assessing the potential impact of his return to the top US office on global affairs. However, the Pakistani defense minister praised him during Geo TV’s special election transmission this month for promising to end conflicts around the world after assuming power in Washington.
Climate talks in Azerbaijan head into their second week, coinciding with G20 in Rio
- Talks in Baku are focused on getting more climate cash for developing countries to transition away from fossil fuels
- Several experts put the sum needed at around $1 trillion
BAKU: United Nations talks on getting money to curb and adapt to climate change resumed Monday with tempered hope that negotiators and ministers can work through disagreements and hammer out a deal after slow progress last week.
That hope comes from the arrival of the climate and environment ministers from around the world this week in Baku, Azerbaijan, for the COP29 talks. They’ll give their teams instructions on ways forward.
“We are in a difficult place,” said Melanie Robinson, economics and finance program director of global climate at the World Resources Institute. “The discussion has not yet moved to the political level — when it does I think ministers will do what they can to make a deal.”
Talks in Baku are focused on getting more climate cash for developing countries to transition away from fossil fuels, adapt to climate change and pay for damages caused by extreme weather. But countries are far apart on how much money that will require. Several experts put the sum needed at around $1 trillion.
“One trillion is going to look like a bargain five, 10 years from now,” said Rachel Cleetus from the Union of Concerned Scientists, citing a multitude of costly recent extreme weather events from flooding in Spain to hurricanes Helene and Milton in the United States. “We’re going to wonder why we didn’t take that and run with it.”
Meanwhile, the world’s biggest decision makers are halfway around the world as another major summit convenes. Brazil is hosting the Group of 20 summit, which runs Nov. 18-19, bringing together many of the world’s largest economies. Climate change — among other major topics like rising global tensions and poverty — will be on the agenda.
Harjeet Singh, global engagement director for the Fossil Fuel Non-Proliferation Treaty Initiative, said G20 nations “cannot turn their backs on the reality of their historical emissions and the responsibility that comes with it.”
“They must commit to trillions in public finance,” he said.
In a written statement on Friday, United Nations Climate Change’s executive secretary Simon Stiell said “the global climate crisis should be order of business Number One” at the G20 meetings.
Stiell noted that progress on stopping more warming should happen both in and out of climate talks, calling the G20’s role “mission-critical.”
Oil Updates – crude nudges up after Russia-Ukraine tensions escalate
SINGAPORE: Oil prices edged up on Monday after fighting between Russia and Ukraine intensified over the weekend, although concerns about fuel demand in China, the world’s second-largest consumer, and forecasts of a global oil surplus weighed on markets.
Brent crude futures gained 29 cents, or 0.4 percent, to $71.33 a barrel by 8:02 a.m. Saudi time, while US West Texas Intermediate crude futures were at $67.20 a barrel, up 18 cents, or 0.3 percent.
Russia unleashed its largest air strike on Ukraine in almost three months on Sunday, causing severe damage to Ukraine’s power system.
In a significant reversal of Washington’s policy in the Ukraine-Russia conflict, President Joe Biden’s administration has allowed Ukraine to use US-made weapons to strike deep into Russia, two US officials and a source familiar with the decision said on Sunday.
There was no immediate response from the Kremlin, which has warned that it would see a move to loosen the limits on Ukraine’s use of US weapons as a major escalation.
“Biden allowing Ukraine to strike Russian forces around Kursk with long-range missiles might see a geopolitical bid come back into oil as it is an escalation of tensions there, in response to North Korean troops entering the fray,” IG markets analyst Tony Sycamore said.
Saul Kavonic, an energy analyst at MST Marquee, said: “So far there has been little impact on Russian oil exports, but if Ukraine were to target more oil infrastructure that could see oil markets elevate further.”
In Russia, at least three refineries have had to halt processing or cut runs due to heavy losses amid export curbs, rising crude prices and high borrowing costs, according to five industry sources.
Brent and WTI slid more than 3 percent last week on weak data from China and after the International Energy Agency forecasted that global oil supply will exceed demand by more than 1 million barrels per day in 2025 even if cuts remain in place from OPEC+.
China’s refinery throughput fell 4.6 percent in October from last year and as the country’s factory output growth slowed last month, government data showed on Friday.
Investors also fretted over the pace and extent of interest rate cuts by the US Federal Reserve that has created uncertainty in global financial markets.
In the US, the number of operating oil rigs fell by one to 478 last week, the lowest since the week to July 19, Baker Hughes data showed.
KSrelief distributes shelter kits in Afghanistan and Somalia
RIYADH: Hundreds of shelter kits have been distributed to people in Afghanistan and Somalia by Saudi aid agency KSrelief, reported the Saudi Press Agency.
Over the weekend, 200 kits were handed out as part of a project to help Afghan returnees from Pakistan and those affected by floods.
The project will provide 4,882 in total containing tents, blankets, plastic mattresses and other essential supplies to almost 30,000 people in need across 13 Afghan provinces.
In Somalia, 1,000 shelter kits, 1,000 clothing parcels, and 80 tents were given to displaced people in the Banadir region, benefitting 6,000 people.
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