PRESIDENT MISSING IN ACTION, CRISIS IN SRI LANKA DEEPENS - The Daily Guardian
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PRESIDENT MISSING IN ACTION, CRISIS IN SRI LANKA DEEPENS

With President Gotabaya Rajpaksa is in hiding, the parties try to come together to form government. It is reported that Parliament is likely to be convened on 15 July to start the process.

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As Sri Lanka plunges into chaos, the Prime Minister Ranil Wickremesinghe said on Monday that the country requires an “all-party government”, and “we all have to work on that”. Even as protests in Sri Lanka continue amid massive financial crisis, the prime minister’s assertion signifies an intent for a political consensus. However, the President Gotabaya Rajpaksa remained missing since Saturday.

Minister of Urban Development and Housing, Prasanna Ranatunga on Monday announced that the new President of Sri Lanka will be elected on July 20.

According to local media reports quoting Ranatunga, ruling Sri Lanka Podujana Peramuna (SLPFA) party leaders have decided to elect a new President on July 20, after President Rajapaksa resigns on 13 July. Parliament will be convened two days later on 15 July to start the process. Nominations for the President’s office will be accepted on 19 July and the new President will be elected a day later.

Prime Minister Ranil Wickremesinghe has also announced his intention to resign on 13 July amid growing popular protest which began in April after the Island Nation plunged into an unprecedented economic crisis. With skyrocketing prices of essential commodities and scarcity of fuel, the government had to shut down schools, government offices and even hospitals. The popular protests raging across the country culminated into storming of the Presidential Palace on Sunday, after protestors in thousands began to gather in Colombo since Thursday 7 July, defying curfew.

Protestors were seen unwinding themselves in the Presidential Palace, splashing in the pool and enjoying food, even as they discovered about Rs. 18 million left behind by President Rajpaksa who was said to have fled the country sometime before the palace was taken over by protesting citizens. Rajpaksa had shifted to the palatial official residence after protestors tried to storm his private residence some months back. A day earlier on Saturday, protestors had stormed Wickremesinghe’s residence and torched it.

Expressing solidarity with protesting public, former Sri Lankan cricketer Sanath Jayasuriya called the 9th of July, the day when the demonstration started, a “public day.”

As the turmoil continued on Sunday, Lankan opposition parties, including Samagi Jana Balawegaya (SJB), Janatha Vimukthi Peramuna (JVP) and the breakaway faction of the ruling SLPFA, agreed in principle to form an all-party interim government to help the country tide over the crisis. These parties are supporting the public protests.

It will be interesting to see how the major opposition parties, including SJB, react to the ruling SLPFA’s attempt to hoist another President on the nation against the popular mood. In the 225-member Parliament of Sri Lanka, the running SLPFA has 146 members, while the main opposition SJB has 54 members. Tamil National Alliance and National People’s Power have, respectively, 16 and 6 members in the Parliament.

Earlier in the day, Speaker Mahinda Yapa Abeywardena clarified that Gotabaya Rajapaksa was still in the country, soon after reports emerged that the President had made good his escape in the face of popular protests against his regime.

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The Current Financial Climate Around the World

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The economy is volatile, but many people are finding ways to profit from these conditions. I decided to write an article about how the global foreign exchange can support your investments in this challenging time. I have made a point of looking into different opportunities and following up with my research. In addition to helping you access an emerging market currency (not to mention other things such as commodities), the foreign exchange gives you exposure to many more investment opportunities than your typical stock/bond investments would. For example, imagine taking advantage of an interest rate hike in your home country and buying shares in some companies in a country like India or China. You need a strong, diversified investment portfolio that includes stocks and bonds in both developed and emerging countries. It means a higher risk, but a better return. Before you start making these changes, make sure you’ve got the necessary resources. It can be difficult to do this right now, so I recommend working with someone who can help manage your money.

Focus on fundamentals

An excellent way for anyone to profit from the current economic situation is by focusing on the underlying factors behind the movement. When trading currency, this usually involves analyzing and understanding the economy, which can often be easier to know when you’re doing it for the first time. Forex traders often forget to consider the fundamental economic factors, especially where a country is concerned. While many investors focus on the short-term dynamics of currencies, they often miss the bigger picture of the economy. This is particularly true for those looking to invest in emerging markets. The more you know about the fundamentals driving the currency value of your portfolio, the more likely you will be able to ride out the ups and downs of the stock market without too much trouble. While many people can take advantage of rising oil prices or even look forward to cheaper goods in the future, there are also those who believe the price of gas, electricity, and food will rise significantly. These investors are willing to invest in the future based on their expectations. As such, it’s important you consider the potential effects these fundamentals could have on your portfolio, especially if you’re looking to invest in emerging markets. Take some time to think about your personal finances, your investment goals, and where your portfolio might be heading over the next couple of years. Then, you’re ready to begin figuring out which currencies and investment opportunities might work well for your portfolio. 

Understand currency volatility

 Currency is one of the most volatile assets available to investors. What do I mean by this? Well, let me explain. A currency is just an object used in international trade and commerce. They are traded between different countries by their governments and national banks, and their value changes based on a variety of factors such as interest rates, foreign exchange rates, population growth, inflation rates, etc. When a currency appreciates or depreciates, this is due to factors such as a strong country or a weak one. However, because of the sheer number of countries with many currencies floating around, there is a lot of volatility in the market.

Use leverage in investments

 Forex trading can be very rewarding. Leverage is a term used to describe an investor’s ability to increase their investments in order to gain more profit. There are two types of leverage: margin and synthetic leverage. Margin refers to the use of borrowed funds to buy and sell securities. Synthetic leverages are simply the creation of artificial leverage by using certain strategies such as day trading or hedging. When doing FX trading, you’ll often find yourself in situations where you’re forced to use the dollar as an instrument. This is referred to as dollar-driven leverage, and it can be very difficult to manage. Just how much can an individual use? Traders often use a large amount of margin in order to take advantage of rising currency values. If you’re looking to use this type of leverage, it’s best to seek advice from a professional Forex trader. In some cases, you may need to borrow money in order to do your own trades. You can do this by having a broker handle all your transactions for you. 

Keep your eye on currency movements

 One of the more popular ways for people to profit from the current financial climate is through currency trading. Many people believe that they must wait until the market is absolutely bearish before they can start making money. The truth is that there are plenty of opportunities for traders right now. Unfortunately, some people believe that currency trading is only for serious investors. That’s not true at all.

In conclusion, there are lots of reasons why you should consider investing in Forex currency trading. If you’re looking for a quick way to get started with the world of currency trading, then I highly recommend trying out some demo accounts. As mentioned above, you may find yourself in situations where you’re forced to use the dollar as an instrument. But don’t worry; it’s easy to get through these types of scenarios and still find success in trading. Good luck!  

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Jammu and Kashmir: 1 terrorist killed in Budgam encounter

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Terrorist Killed

In the ongoing encounter in Budgam district of Jammu and Kashmir, one terrorist was killed on Wednesday.

“The encounter broke out in Budgam in Jammu and Kashmir on Wednesday between terrorists and security forces,” police said.

Taking to Twitter Kashmir Zone Police said, “Encounter has started at Waterhail area of Budgam. Police and security forces are on the job. Further details shall follow.”

Earlier today, terrorists of proscribed terror outfit The Resistance Front (TRF)/Lashkar-e-Taiba (LeT) were trapped by security forces. They were trapped in the ongoing encounter in Jammu and Kashmir’s Budgam.

The Jammu and Kashmir Police trapped Lateef Rather who killed several civilians including Rahul Bhat and Amreen Bhat.

“3 terrorists of terror outfit LeT (TRF) including terrorist Lateef Rather trapped in the ongoing encounter. Terrorists Lateef is involved in several #civilian #killings including Rahul Bhat and Amreen Bhat,” Kashmir Zone Police said.

Earlier on 12 May, Chadoora Tehsil Office employee Rahul Bhat was shot dead by terrorists in his office. While Amreen Bhat Kashmiri TV actress was killed in Budgam’s Chadoora on May 26.

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Prophet row: SC extends protection, transfers all FIRs against Nupur Sharma to Delhi Police

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Nupur sharma

On Wednesday, the Supreme Court combined and forwarded all FIRs filed to the Delhi Police against BJP spokeswoman Nupur Sharma, who has been suspended. The apex court also granted Sharma temporary protection while the Prophet’s comment controversy is being investigated.

The court also gave the suspended BJP leader permission to file a petition with the Delhi High Court to have FIRs filed in other states over her remarks dismissed. After allegedly uttering some offensive remarks about the Prophet Mohammad during a debate on a TV channel, Sharma has become embroiled in a significant scandal.

Protests quickly ensued, both inside and outside the nation, and several Muslim countries officially registered their objections with the relevant Indian embassy. The BJP then suspended Sharma and expressed distain for her comments. A statement was also made in this regard by the ministry of external affairs.

Large-scale upheavals were also caused in various regions of the nation. Also murdered by radical Muslim groups in Rajasthan and Maharashtra were two people who sent messages of support for Sharma on social media.

Sharma had received harsh criticism from the apex court for her remarks made on May 26 during a TV discussion debate, but it later granted her protection in the case.

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Nitish Kumar calls Lalu Yadav before oath ceremony; RJD supremo congratulates him

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Nitish Kumar and Lalu Prasad Yadav

Ahead of Nitish Kumar’s oath-taking ceremony RJD supremo Lalu Prasad Yadav called him and discussed the political developments. Prasad congratulated him as well.

RJD supremo hailed Kumar’s decision to split from the NDA and reunite with the Mahagathbandhan.

“Nitish Kumar called Lalu Prasad Yadav amid political developments in Bihar, discussed several issues, Lalu Yadav congratulated him and his decision to break away from the BJP and join the Grand Alliance,” a family member said.

Earlier in the day Nitish Kumar was sworn in as the Chief Minister of Bihar for the eighth time. The oath ceremony was held at the Patna Raj Bhavan on Wednesday.

After a huge political turmoil in the state, Kumar broke the alliance of BJP-JDU on Tuesday. Later Kumar announced to form of a new “Grand Alliance”.

The swearing-in ceremony was attended by RJD’s Tejashwi Yadav, his wife Rajshri, former CM Rabri Devi, and RJP leader Tej Pratap Yadav.

“Seven parties including 164 MLAs along with independent MLA in our Mahagathbandhan,” Nitish Kumar said at a joint presser with RJD’s Tejashwi Yadav.

Meanwhile, RJD leader Tejashwi Yadav also took oath as the Deputy Chief Minister of the state.

However, on Tuesday Nitish Kumar submitted his letter of resignation as chief minister to Governor Phagu Chauhan at Raj Bhavan.

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Tejaswi all set to combat unemployment, promises bumper jobs in a month

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Tejaswi yadav

Tejashwi Yadav, the new deputy chief minister of Bihar, said the nation must follow the example set by his state. After Nitish Kumar severed ties with the BJP, the Rashtriya Janata Dal (RJD) leader took the oath for the top two positions in the state alongside him. He promised that within a month, hundreds of jobs would be available for the underprivileged and young people.

Yadav claimed that his battle had been with unemployment and that the job offers would be grand in a previously unheard-of way.

“Bihar took the necessary action for the nation. We have led the way for them. We have been fighting against unemployment. Our CM understood how the underprivileged and young felt. Within a month, we’ll offer kids and the poor bumper jobs.” The newly appointed deputy chief minister predicted that it would be an enormous event that had never occurred before.

He claimed that the Mahagathbandhan, or grand alliance, is so powerful that the BJP would be the only party left standing as the opposition in the Assembly.

He further added, “A difficult decision taken by CM Nitish Kumar is a decision which was needed (to be taken). Communal tensions were being spread by BJP, they were trying to kill regional parties.”

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Omicron’s new sub-variant detected in Delhi

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Omicron

A new sub-variant of COVID’s Omicron variant was detected in New Delhi on Wednesday. The variant is more transmissible.

The new sub-variant has been identified as BA-2.75. This sub-variant was detected in a study report of 90 samples sent for genome sequencing.

Meanwhile, Dr. Suresh Kumar, Medical Director of LNJP Hospital said that the new variant has more transmissibility. These can infect even those with antibodies.

“Omicron’s subvariant BA-2.75 has been found in the report. It has more transmission rate. This has emerged in the study report of 90 samples sent for genome sequencing. This new sub-variant also attacks people already having antibodies and also those who have taken the COVID vaccines in their body,” Dr. Suresh Kumar said.

However further details into the matter are awaited.

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