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Sri Lanka in talks with China for USD2.5B credit support

COLOMBO (CNA) – China is considering offering a USD1.5 billion credit facility to Sri Lanka and a decision is expected soon, a top Chinese official said yesterday, as part of efforts to help the island nation amid its worst economic crisis in decades.

Chinese ambassador to Sri Lanka Qi Zhenhong told reporters the two sides were also discussing a separate loan of up to USD1 billion which the Sri Lankan government requested.

He added that the South Asian nation was offered a loan of USD500 million from the China Development Bank on March 18.

Sri Lanka has to repay about USD4 billion worth of debt this year, including a USD1 billion international sovereign bond maturing in July. But its reserves dipped to USD2.31 billion as of end February, down around 70 per cent from two years ago.

The country is also struggling to make payments for imports of essentials such as fuel and medicines and enforcing nationwide power cuts due to a lack of fuel for power generation.

“We believe our ultimate goal is to solve the problem but there may be different ways to do so,” Qi said in response to questions on possible restructuring of the Chinese loans.

China is Sri Lanka’s fourth biggest lender, behind international financial markets, the Asian Development Bank and Japan.

People stand in a queue to buy kerosene oil for home use at a petrol station in Colombo. PHOTO: AFP

Over the last decade, China has lent Sri Lanka more than USD5 billion for the construction of highways, ports, an airport and a coal power plant.

President Gotabaya Rajapaksa asked China to help restructure debt repayments when he met Chinese Foreign Minister Wang Yi in January, but China is yet to respond to the request.

Repayments to China are estimated at about USD400 to USD500 million, a Finance Ministry source told media.

Rajapaksa said last week Sri Lanka will work with the International Monetary Fund (IMF) to help solve the country’s economic crisis with official talks to begin in mid-April.

Before the pandemic, China was Sri Lanka’s main source of tourists and the island imports more goods from China than from any other country.

Sri Lanka is a key part of China’s Belt and Road Initiative, a long-term plan to fund and build infrastructure linking China to the rest of the world.

35 pints collected at FRD blood drive

James Kon

The Fire and Rescue Department (FRD) with the support of the Blood Donation Centre, Laboratory Services Department of Raja Isteri Pengiran Anak Saleha (RIPAS) Hospital collected 35 pints of blood at a donation drive at the FRD’s multipurpose hall recently.

Assistant Director of Technical at the FRD ADFR Nohi Irwan Surkarki bin Haji Pawi also participated.

PHOTOS: FRD

 

Teak trees fall on fences

James Kon

Eight firefighters from Sungai Kebun Fire Station, led by ABK 549 Rosland bin Haji Ahmad, responded to an incident of fallen trees at Kampong Panchor Lumapas on Sunday.

According to the Fire and Rescue Department (FRD), a distress call was received at 6.31pm about three teak trees measuring some 30 centimetres in diameter and 15 metres in height which had fallen and struck part of the fence of a residential home.

Firefighters cut the trees with a chainsaw and partner cutter saw.

No one was injured during the incident.

The FRD reminded the public to be on the alert of falling trees, especially during unpredictable weather and avoid planting trees close to houses.

The public is also advised not to park vehicles close to trees and residents are requested to trim the branches.

Firefighters cut the trees. PHOTO: FRD

Pakistan’s Khan rallies supporters ahead of Parliament vote

ISLAMABAD (AP) – Pakistani Prime Minister Imran Khan (AP; pic below) turned to grassroot supporters yesterday lobbying the poor and promising better hospital care as he faces a no-confidence motion in Parliament.

The challenge may be the biggest yet for the former cricket star turned leader since he came to power in 2018. The opposition has demanded Khan step down over his alleged failure to improve the country’s economy.

Pakistan’s key opposition parties launched a formal no-confidence vote for Khan earlier this month. Speaker of the National Assembly Asad Qaiser, convened a special session for Friday to deliberate

whether Khan still has majority support in the House. Under the constitution, the Parliament has three days to deliberate after which the lawmakers will vote.

Khan has remained defiant, claiming he still enjoys the backing of the majority of lawmakers in the 342-seat house.

Yesterday, Khan spoke to a gathering at a hospital in Islamabad, lauding his government’s efforts to provide free health care for the poor.

“Since I joined politics, it was my dream that poor people should have free facilities and free medical care,” Khan said, adding that his government has succeeded in providing that to nearly every poor Pakistani citizen.

He also defended his government’s performance, saying all economic indicators show improvement in Pakistan’s economy. But recent mutinies from within Khan’s own Pakistan Tehreek-e-Insaf party could easily tip the scales against him. As many as 13 lawmakers from his party have indicated they could vote against him.

After the 2018 election, Khan secured 176 votes in Parliament to become prime minister.

At a televised rally on Sunday, he urged the dissenters to come back, saying he would forgive them, while also claiming they had been bribed by the opposition – a charge the turncoats deny.

Also, several lawmakers from parties allied with Khan opened talks last week with the opposition Pakistan Democratic Movement on a possible new re-alignment in Parliament, should Khan be ousted.

The votes of the dissenters from Khan’s ranks have also become an issue. Pakistan’s President Arif Alvi yesterday asked the Supreme Court for guidance on whether their votes should be counted and considered valid.

Some law experts said those votes will be counted – even if the Election Commission later disqualifies them on complaints from Khan’s party.

A senior Pakistani analyst Imtiaz Gul, said it seems the opposition’s no-confidence motion has garnered substantive support.

Meta asks Russian court to dismiss proceedings in ‘extremism’ case

CNA – Meta Platforms yesterday asked a Russian court to dismiss proceedings in a case brought by state prosecutors demanding that the US tech giant be labelled an “extremist organisation”, Russian news agencies reported.

The TASS news agency reported from the courtroom that Meta asked for more time to prepare its position and had also questioned the court’s authority to implement a ban on its activities.

Representatives for Meta did not immediately respond to a request for comment.

A person holds a smartphone with the Meta logo. PHOTO: CNA

Ukraine rejects Russian demand for surrender in Mariupol

LVIV, UKRAINE (AP) – Ukrainian officials defiantly rejected a Russian demand that their forces in Mariupol lay down arms and raise white flags yesterday in exchange for safe passage out of the besieged strategic port city.

Even as Russia intensified its attempt to bombard Mariupol into surrender, its offensive in other parts of Ukraine has floundered. Western governments and analysts see the broader conflict grinding into a war of attrition, with Russia continuing to barrage cities.

In the capital Kyiv, Russian shelling devastated a shopping centre near the city centre killing at least eight people.

The encircled southern city of Mariupol on the Sea of Azov has seen some of the worst horrors of the war, under Russian pounding for more than three weeks.

Strikes hit an art school sheltering some 400 people only hours before Russia’s offer to open two corridors out of the city in return for the capitulation of its defenders, according to Ukrainian officials.

A mother embraces her son who escaped the besieged city of Mariupol and arrived at the train station in Lviv, western Ukraine. PHOTO: AP

Ukrainian officials rejected the Russian proposal for safe passage out of Mariupol even before Russia’s deadline of 5am Moscow time for a response came and went.

“There can be no talk of any surrender, laying down of arms,” Ukrainian Deputy Prime Minister Irina Vereshchuk told the news outlet Ukrainian Pravda. “We have already informed the Russian side about this.”

Mariupol Mayor Piotr Andryushchenko also dismissed the offer shortly after it was made, saying in a Facebook post he didn’t need to wait until the morning deadline to respond, according to the news agency Interfax Ukraine.

Russian Col Gen Mikhail Mizintsev had offered two corridors – one heading east toward Russia and the other west to other parts of Ukraine. He did not say what Russia planned if the offer was rejected.

The Russian Ministry of Defence said authorities in Mariupol could face a military tribunal if they sided with what it described as “bandits,” the Russian state news agency RIA Novosti reported.

Multiple attempts to evacuate residents from Mariupol and other Ukrainian cities have failed or only partly succeeded, with bombardments continuing as civilians tried to flee.

City officials said at least 2,300 people have died in the siege, with some buried in mass graves.

Tearful evacuees from devastated Mariupol have described how “battles took place over every street.”

1,393 new COVID-19 cases recorded

James Kon

Brunei recorded 1,393 new COVID-19 cases yesterday, bringing the national tally of confirmed cases to 126,109. Of the new cases, 1,215 were from antigen rapid test (ART) results uploaded to the BruHealth app, while 178 were from 1,551 RT-PCR laboratory tests performed in the past 24 hours.

The country also recorded three COVID-19 fatalities where the cases were not categorised as deaths due to COVID-19.

The latest COVID-19 updates were shared by Minister at the Prime Minister’s Office and Minister of Finance and Economy II Dato Seri Setia Dr Awang Haji Mohd Amin Liew bin Abdullah at a press conference yesterday.

In light of the fatalities, Dato Seri Setia Dr Awang Haji Mohd Amin Liew said, “On behalf of the Ministry of Health (MoH) and the people of Brunei Darussalam, I would like to express our deepest condolences to the cases’ families. May their families be given patience in their passing and may their souls receive blessings and be placed among the pious.”

Meanwhile, the current number of cases in Category 4 stand at 11, while the five cases are in Category 5. The number of cases in Category 4 and Category 5 at this time is 6.2 per cent of the treatment capacity of Categories 4 and 5 at the National Isolation Centre (NIC).

Minister at the Prime Minister’s Office and Minister of Finance and Economy II Dato Seri Setia Dr Awang Haji Mohd Amin Liew bin Abdullah and Permanent Secretary at the Ministry of Health Haji Maswadi bin Haji Mohsin at the press conference. PHOTO: JAMES KON

The minister also shared 2,314 cases have recovered, bringing the tally of recovered cases to 113,654 with 12,262 active cases.

At present, the bed occupancy rate in isolation centres nationwide is 5.4 per cent where 195 active cases are placed at isolation centres and hospitals. Some 12,065 positive cases are undergoing home self-isolation.

As of March 20, 59.8 per cent of the population has received three doses under the National COVID-19 Vaccination Programme.

No violations were found during the movement restriction from midnight to 4am yesterday.

Permanent Secretary at the MoH Haji Maswadi bin Haji Mohsin was also present.

Clasico thrashing could transform Barca: Xavi

MADRID (AFP) – Xavi Hernandez said Barcelona’s 4-0 thrashing of Real Madrid could be transformative for the club after their Clasico demolition at the Santiago Bernabeu early yesterday.

Barcelona blew Madrid away as Pierre-Emerick Aubameyang scored twice either side of goals from Ronald Araujo and Ferran Torres.

The match was billed as a test of Barca’s progress under Xavi and they passed with flying colours, a humiliation of their fiercest rivals suggesting they are primed to challenge again for La Liga next season.

“It can change the dynamics of the present and the future,” said Xavi. “We had lots of chances and we were much better than Madrid, far superior. We deserved to score so many goals.” Asked if Barcelona are back, Xavi said, “It can be. This is the right path.”

And while the result might have little bearing on the title race this term, a defeat of this magnitude, at home, and against Barcelona, will cause serious reverberations at Real Madrid.

It will go down with other historic Clasico thrashings, like when Barca won 6-2 at Real Madrid in 2009 under Pep Guardiola or 5-0 at home two years later.

Barcelona’s Pierre-Emerick Aubameyang lobs the ball to score his side’s fourth goal against Real Madrid’s goalkeeper Thibaut Courtois during the La Liga match at the Santiago Bernabeu stadium in Madrid. PHOTO: AP

Questions will be asked about Carlo Ancelotti’s future, with Madrid outplayed tactically and technically by Xavi’s Barca, who were faster, slicker and, perhaps most worryingly, could easily have won by more. “We played badly and I planned the game badly,” said Ancelotti.

“I am sorry for the defeat and I am sad. But we have to keep it in perspective.”

Madrid were admittedly without the injured Karim Benzema and Ferland Mendy while there could have been a degree of complacency, given they kicked off nine points clear at the top of the table after Sevilla were held to a goalless draw by Real Sociedad.

But none of that will excuse a loss as dramatic as this one, the only relief now that a resurgent Barcelona are still 12 points behind, albeit with a game in hand.

Aubameyang’s double means he now has nine goals in 11 games for Barcelona and the Gabon striker is looking like a superb January signing.

Pedri was outstanding again too – but this was a night for the bigger picture, as Barcelona’s revival made its biggest statement so far.

When Barca were beaten by Real Madrid in the Spanish Super Cup in January, the Catalans were criticised for celebrating the manner of their narrow defeat.

“We are getting closer,” said Gerard Pique.

After five consecutive losses to Madrid, a win of any kind was the next step for Barca but a hammering like this could be transformative, delivering a huge boost to confidence, vindication of Xavi’s project and optimism for next season all in one fell swoop.

Shortly after the final whistle here, Pique tweeted: “We are back.”

Eder Militao clattered Pedri in the opening minute and that was about as close as Real Madrid got to him all game.

Soon, the chances started coming for Barca as Ferran Torres pulled back for Aubameyang but he scuffed straight at Thibaut Courtois, who then had to palm wide a curling effort from Ousmane Dembele. Barca’s dominance was growing and in the 29th minute they scored, Dembele racing round the outside of Nacho Fernandez and crossing for Aubameyang to head in.

Vinicius Junior might have changed the game if he had converted after being sent through but a heavy touch allowed Marc-Andre ter Stegen to save.

Instead, Barcelona doubled their lead when Ronald Araujo headed in from a corner before half-time and after it, the humiliation began.

David Alaba and Militao both committed themselves to sliding tackles and both missed, Aubameyang executing a superb flicked pass to Torres, who made no mistake.

Worse was to come, as Pique’s ball over the top allowed Aubameyang to scoop in a brilliant finish for a fourth in the 51st minute. Madrid thought they were spared by the offside flag but VAR intervened and the goal stood.

Aubameyang, Torres and Dembele could all have furthered the embarrassment for Madrid, the latter poking wide after skipping in behind and holding off Militao.

By then, Aubameyang had gone off, the victory already complete and the stadium quickly emptying.

World shares mixed after Wall Street gain as markets eye Ukraine

BEIJING (AP) – Global stock markets were mixed yesterday after Wall Street’s biggest weekly gain in 16 months as investors watched efforts to negotiate an end to Russia’s war on Ukraine.

Oil prices gained over USD4 per barrel.

London, Paris and Shanghai gained while Hong Kong and Seoul slipped. Japanese markets were closed for a holiday.

Wall Street futures were lower after the benchmark S&P 500 index rose on Friday as markets appeared to welcome the Federal Reserve’s attempt to fight surging inflation by raising its key interest rate.

Investors watched efforts to mediate a settlement to Russia’s attack, which pushed up oil prices and added to uncertainty about the global economic outlook.

“It appears that there is a 50-50 chance of continuing with the pick-up in market sentiments,” Tan Boon Heng of Mizuho Bank said in a report.

In early trading, the FTSE 100 in London rose 0.3 per cent to 7,425.08. The DAX in Frankfurt gained 0.2 per cent to 14,434.00. The CAC 40 in Paris was little-changed at 6,619.12.

On Wall Street, the S&P 500 future was off 0.1 per cent and that for the Dow Jones Industrial Average lost 0.2 per cent.

People walk past a bank’s electronic board showing the Hong Kong share index at Hong Kong Stock Exchange. PHOTO: AP

On Friday, the S&P 500 gained 1.2 per cent, adding to a streak that included two days of two per cent gains. The Dow advanced 0.8 per cent and the Nasdaq composite added two per cent. The three indexes had their best week since November 2020.

In Asia, the Shanghai Composite Index gained less than 0.1 per cent to 3,253.69.

The Hang Seng in Hong Kong fell 0.9 per cent to 21,221.34. Hong Kong-traded shares in China Eastern Airlines, a major mainland China-based carrier, sank 6.5 per cent shortly before the market closed after state media reported that a flight with 132 people aboard had crashed into mountain in southern China, setting off a hill fire. The Civil Aviation Administration of China confirmed the crash. There was no immediate word on casualties.

The Kospi in Seoul lost 0.8 per cent to 2,686.05 after the government reported exports in the first 20 days of March were up 10.1 per cent from a year earlier. Semiconductor exports rose 30.8 per cent while autos fell 18.1 per cent due to supply bottlenecks.

The figures “hinted at a continuation of the global recovery but also pointed to downside risks from global supply chain disruptions”, said Min Koo Kang of ING in a report.

Sydney’s S&P-ASX 200 declined 0.2 per cent to 7,278.50 and India’s Sensex retreated 0.8 per cent to 57,409.90.

New Zealand, Singapore and Jakarta gained while Bangkok retreated.

Russia’s attack added to investor unease about the Fed and other central banks withdrawing stimulus that has pushed up share prices.

Last week, Fed Chair Jerome Powell expressed confidence the economy is strong enough to withstand higher interest rates.

On Sunday, Turkey’s Foreign Minister, Mevlut Cavusoglu, said Ukraine and Russia are close to an agreement on “fundamental issues” after he travelled to both countries to meet his counterparts.

Cavusoglu said in return for its neutrality, Ukraine wants Turkey, Germany and the five permanent members of the United Nations (UN) Security Council to act as guarantors.

Also yesterday, Disney Co closed its Shanghai theme park as the city tried to control its biggest coronavirus flareup in two years. The southern business centre of Shenzhen allowed shops and offices to reopen after a weeklong closure.

China’s case numbers in its latest infection wave are low compared with other major countries, but authorities are enforcing a “zero tolerance” strategy that suspended access to some major cities

In energy markets, benchmark United States (US) crude rose USD4.50 to USD107.59 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the price basis for international oil trading, gained USD4.32 to USD112.25 per barrel in London.

The dollar rose to JPY119.25 from Friday’s JPY119.13. The euro retreated to USD1.1042 from USD1.1047.

Nearly 150 language lovers gather

Izah Azahari

The second session of the International Malay Language, Literature and Culture Congress Series (KABSBM) in conjunction with the Language Month organised by the Language and Literature Bureau (DBP) was live streamed via the Dewan Bahasa dan Pusatak Brunei Facebook and Zoom application yesterday.

Some 150 individuals attended the event including Acting Permanent Secretary (Strategy and Policy Management) at the Ministry of Culture, Youth and Sports (MCYS) Dr Siti Norkhalbi binti Haji Wahsalfelah, as well as recipients of the Southeast Asian Writers’ Award, DBP strategic partners, senior government officers and language lovers from within and outside the country.

Dr Rusmadi bin Baharudin from DBP Malaysia presented a paper on Kamus Dewan Perdana: Mengharkatkan Perkamusan Melayu ke Persada Leksikografi Dunia in the second session of KABSBM series in the field of language. Among the topics discussed were language codification or language construction that aims to strengthen a language in terms of the system as a whole, namely spelling, pronunciation, grammar, vocabulary terms and language adjustment.

Dictionaries also serve as a reservoir of information, which is an important part of language construction, development and standardisation.

The second segment of the presentation looked at the history of how the Dewan Perdana Dictionary project emerged which has been successfully undertaken by the Language and Literature Bureau, Malaysia.

It is estimated that over 120,000 entries and subentries consist of general words, special nouns and so on.

Acting Permanent Secretary (Strategy and Policy Management) at the Ministry of Culture, Youth and Sports Dr Siti Norkhalbi binti Haji Wahsalfelah and attendees at the session. PHOTO: DBP
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Borneo Bulletin is the leading English daily in the country. It was first published by Brunei Press. Today, Borneo Bulletin has become the foremost source of information on local and foreign affairs, and the region’s business news.

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