The overall number of Covid cases has surpassed 262 million
amid concern about the emergence of a new variant, Omicron, in some countries.
According to Johns Hopkins University (JHU), the total case
count mounted to 262,093,495 while the death toll from the virus reached
5,206,982 Tuesday morning.
The US has recorded 48,438,063 cases to date and more than
778,701 people have died so far from the virus in the country, as per the
university data.
Brazil, which has been experiencing a new wave of cases
since January, has registered 22,084,749 cases so far, while its Covid death
toll rose to 614,428.
India's Covid-19 tally rose to 34,583,597 on Sunday, as
8,309 new cases were registered in 24 hours across the country, as per the
federal health ministry data.
Besides, as many as 236 deaths due to the pandemic since
Saturday morning took the total death toll to 468,790.
Russia registered 33,860 new coronavirus cases over the past
24 hours, taking the nationwide tally to 9,604,233, the official monitoring and
response center said Monday.
The nationwide death toll grew by 272,755, to 273,964 while
the number of recoveries increased by 8,268,111 to 8,295,811.
Meanwhile, the World Health Organization (WHO) said on
Sunday that it's not yet clear whether Omicron easily spreads from person to
person compared to other variants, even though the number of people testing
positive has risen in South Africa where this variant was involved.
It's also not yet clear whether Omicron causes more severe
disease, but preliminary data suggests that there are increasing rates of hospitalization
in South Africa, which however may be due to increasing overall numbers of
people becoming infected, reports Xinhua.
WHO classified on Friday the latest variant B.1.1.529 of
SARS-CoV-2 virus, now with the name Omicron, as a ‘Variant of Concern’ (VOC).
Comment
Pakistan,
the South Asian nation with a population of over 220 million people, is facing
a severe financial crisis that has put the country on the brink of bankruptcy.
The country's economy has been struggling for several years, with a range of
factors contributing to the crisis. Here are some of the reasons why Pakistan
is on the verge of bankruptcy.
Current
Account Deficit
Pakistan's
current account deficit has been widening rapidly in recent years, meaning the
country is importing more goods and services than it is exporting. According to
the State Bank of Pakistan, the current account deficit for the fiscal year
2020-21 was $1.85 billion, up from $614 million in the previous year. This
deficit puts pressure on Pakistan's foreign exchange reserves and makes it
difficult for the country to repay its external debt obligations.
Foreign
Debt
Pakistan's
external debt has been increasing at an alarming rate, with the total external
debt reaching $116.3 billion in June 2021, up from $73.4 billion in June 2016.
The country's external debt has grown by more than 58% in just five years,
putting immense pressure on the country's finances. Pakistan's external debt is
projected to grow to $134.2 billion by June 2023, according to the
International Monetary Fund (IMF).
Trade
Deficit
Pakistan's
trade deficit has also been widening, with the country importing more goods
than it exports. The trade deficit for the fiscal year 2020-21 was $27.4
billion, up from $23.1 billion in the previous year. The country's exports have
been declining in recent years, and the COVID-19 pandemic has further
exacerbated the situation.
Corruption
and Mismanagement
Corruption
and mismanagement have also contributed to Pakistan's financial crisis.
According to the Transparency International Corruption Perception Index,
Pakistan ranks 124 out of 180 countries, indicating widespread corruption in
the country. The mismanagement of state-owned enterprises, such as Pakistan
International Airlines and Pakistan Steel Mills, has also been a major issue, with
these entities running huge losses and requiring government bailouts.
Energy
Crisis
Pakistan's
energy crisis has also contributed to the country's financial woes. The country
has been facing severe power shortages for many years, with frequent blackouts
and load shedding. The energy crisis has impacted businesses and industries,
leading to a decline in economic growth and investment.
COVID-19
Pandemic
The
COVID-19 pandemic has further exacerbated Pakistan's financial crisis. The
country has been hit hard by the pandemic, with the healthcare system
struggling to cope with the surge in cases. The pandemic has also impacted the
country's economy, with many businesses shutting down and unemployment rising.
IMF
Bailouts
Pakistan has turned to the IMF for financial assistance multiple times in the past, with the country currently on its 22nd IMF bailout program. The IMF has provided Pakistan with loans to stabilize its economy and reduce its external debt, but the country has struggled to implement the required economic reforms, leading to delays in disbursement of funds.
In
conclusion, Pakistan is facing a severe financial crisis that has put the
country on the brink of bankruptcy. The country's current account deficit,
external debt, trade deficit, corruption, mismanagement, energy crisis, and the
COVID-19 pandemic have all contributed to the crisis. Pakistan urgently needs
to implement economic reforms and address these issues to stabilize its economy
and avoid a financial meltdown. The country must also work towards reducing its
reliance on external debt and increasing its exports to boost its economy.
Pakistan Financial crisis Bankruptcy
Comment
President Vladimir Putin has held extensive meetings with the military top brass overseeing Russia's campaign in Ukraine, where Moscow has stepped up bombardments, the Kremlin said Saturday.
"On Friday, the president spent the whole day at the army staff involved in the special military operation in Ukraine," a statement said.
He held a meeting with Defence Minister Sergei Shoigu and
Chief of General Staff Valery Gerasimov and held "separate discussions
with commanders" from different defence branches, it said.
"I would like to hear your proposals on our actions in
the short- and medium-term," Putin was shown as saying in the meeting by
Russia's state television.
Russia launched a barrage of missiles on Friday on multiple
cities in Ukraine, plunging them into darkness, cutting water and heat and
forcing people to endure sub-zero temperatures.
After a series of embarrassing battlefield defeats, Russia
since October has pursued an aerial onslaught against what Moscow says are
military-linked facilities.
France and the European Union said the suffering inflicted
on freezing civilians constitutes war crimes, with the bloc's foreign policy
chief calling the bombings "barbaric".
- BSS/AFP
Comment
US Deputy Assistant Secretary in the Bureau of South and
Central Asian Affairs (SCA) Afreen Akhter has said the United States sees
Bangladesh as a “truly important strategic partner" and looks forward to
working over the next 50 years for a stronger relationship.
She said in the last 50 years Bangladesh-US relations have
seen incredible progress between the peoples, economies and governments.
The people-to-people ties between the two countries are very
deep, she said.
Praising Bangladesh's progress in different sectors, the US
Deputy Assistant Secretary said Bangladesh's economy has expanded from largely
agriculture society to economic powerhouse over the just few decades.
This is a story to really be proud of that Bangladesh has
lifted millions of people out of poverty and the country will achieve the
middle-income status within generations, which is truly remarkable, she said
while speaking at a Victory Day function in Washington.
Beyond the economic cooperation, Afreen mentioned the close
partnership between the two countries in providing COVID-19 vaccines and
addressing climate change issue. She thanked the Bangladesh government for
hosting some 1,1 million Rohingya from Myanmar.
The Bangladesh Embassy in Washington DC celebrated the 52nd Victory Day of
Bangladesh, remembering the valiant freedom fighters who fought and made the
supreme sacrifice for the cause of long-aspired independence.
To commemorate the day, the Embassy arranged a daylong
program.
The day's first part of the programme began with the
hoisting of the national flag ceremonially on the chancery premises in the
morning by Bangladesh Ambassador to the United States Muhammad Imran.
Officials and employees of the embassy were present at that
time.
Later, the Ambassador along with officials and employees of
the embassy placed a wreath at the bust of Father of the Nation Bangabandhu
Sheikh Mujibur Rahman at the Bangabandhu Corner of the embassy.
The messages issued on the occasion of the Victory Day by
President Md. Abdul Hamid, Prime Minister Sheikh Hasina, Foreign Minister Dr.
A.K. Abdul Momen, and State Minister for Foreign Affairs Md. Shahriar Alam were
read out by Deputy Chief of Mission Ferdousi Shahriar, Minister (Commerce) Md.
Salim Reza, Counsellor (Public Diplomacy) Arifa Rahman Ruma and Counsellor
(Political-I) Mohammad Moniruzzman.
A special prayer was held seeking peace, progress and
development of the nation as well as eternal peace of the departed soul of
martyrs of the Liberation War and Bangabandhu Sheikh Mujibur Rahman was
offered.
A discussion was held later.
Ambassador Imran recalled with profound respect the greatest
Bengali of all time and the founding Father of Bangladesh Bangabandhu Sheikh
Mujibur Rahman.
He also paid deep homage to three million martyrs for their
supreme sacrifices and two 2 lakh women who sacrificed in 1971.
The day’s other program ended with a colourful cultural
function.
The artistes of Dhroopodi, a Bangladeshi-American cultural
organisation, performed group dances on patriotic songs.
Counsellor Shameema Yasmin Smrite and First Secretary Md
Ataur Rahman conducted the day’s programme. The embassy also arranged a photo
exhibition on the day.
- UNB
Comment
North Korea fired
around 130 artillery shells into the sea off its east and west coasts on
Monday, South Korea's military said, in the latest apparent military drill near
their shared border.
Some of the shells landed in a buffer zone near the sea
border in what Seoul said was a violation of a 2018 inter-Korean agreement
designed to reduce tensions.
The South Korean military sent several warning
communications to the North over the firing, the ministry of defence said in a
statement.
North Korea did not immediately report on the artillery
fire, but it has been carrying out an increasing number of military activities,
including missile launches and drills by warplanes and artillery units.
South Korea and the United States have also stepped up
military drills this year, saying they are necessary to deter the nuclear-armed
North.
The 2018 Comprehensive Military Agreement (CMA) was the most
substantive deal to come from the months of meetings between leader Kim Jong Un
and then-South Korean President Moon Jae-in.
With those talks long stalled, however, recent drills and
shows of force along the fortified border between the Koreas have cast doubts
on the future of the measures. South Korea has accused the North of repeatedly
violating the agreement with artillery drills this year.
This year North Korea resumed testing of its long-range
intercontinental ballistic missiles (ICBMs) for the first time since 2017, and
South Korea and the United States say it has made preparations to resume
nuclear testing as well.
- Reuters
Comment
A Group of Seven
(G7) price cap on Russian seaborne oil came into force on Monday as the West
tries to limit Moscow's ability to finance its war in Ukraine, though Russia
has said it will not abide by the measure even if it has to cut production.
The G7 nations and Australia on Friday agreed a $60 per
barrel price cap on Russian seaborne crude oil after European Union members
overcame resistance from Poland. Russia is the world's second-largest oil
exporter.
Ukrainian President Volodymyr Zelenskiy said the world had
shown weakness by setting the cap at that level while Russian Deputy Prime
Minister Alexander Novak said on Sunday it was a gross interference that
contradicted the rules of free trade.
"We are working on mechanisms to prohibit the use of a
price cap instrument, regardless of what level is set, because such
interference could further destabilise the market," said Novak, the
Russian government official in charge of its oil, gas, atomic energy and coal.
"We will sell oil and petroleum products only to those
countries that will work with us under market conditions, even if we have to
reduce production a little," he said.
The G7 agreement allows Russian oil to be shipped to
third-party countries using G7 and EU tankers, insurance companies and credit
institutions, only if the cargo is bought at or below the $60 per barrel cap.
Industry players and a US official said in October that
Russia can access enough tankers to ship most of its oil beyond the reach of
the cap, underscoring the limits of the most ambitious plan yet to curb
Russia's wartime revenue.
According to Zelenskiy, the $60 cap would do little to deter
Russia from waging war in Ukraine. "You wouldn't call it a serious
decision to set such a limit for Russian prices, which is quite comfortable for
the budget of a terrorist state."
The United States and its allies have imposed sweeping
sanctions on Russia since it invaded Ukraine on February 24 and sent billions
of dollars in aid to the Ukrainian government.
French President Emmanuel Macron, however, drew criticism
from Ukraine and its Baltic allies over the weekend for suggesting the West
should consider Russia's need for security guarantees if it agrees to talks to
end the war.
Zelenskiy's aide, Mykhailo Podolyak, said the world needed
security guarantees from Russia, not the other way around.
PLANNED BLACKOUTS
In Ukraine, Russia has been pounding power infrastructure
since early October, causing blackouts and leaving millions without heating as
temperatures plummet.
Russia says the assaults do not target civilians and are
meant to reduce Ukraine's ability to fight.
Ukraine says the attacks are a war crime.
Zelenskiy, in a video address on Sunday, urged citizens to
be patient and strong in resisting the rigours of winter.
"To get through this winter, we must be even more
resilient and even more united than ever," he said.
Kyiv Mayor Vitaliy Klitschko said on Telegram that blackouts
would be confined from Monday to planned "stabilisation" cutoffs to
get the grid working again, but added the situation remained
"difficult".
Ukraine's largest power supplier, DTEK, said blackouts were
planned for three other regions - Odesa, Donetsk and Dnipropetrovsk in
Ukraine's south and east.
In Kherson, largely without power since Russian forces
abandoned the southern city last month, the regional governor said 85% of
customers had electricity.
SHELLING ALONG FRONT LINES
On the battlefront, Zelenskiy said Ukrainian forces were
holding positions along the front line, including near Bakhmut, viewed as
Russia's next target in their advance through Donetsk.
Ukraine's military said Russian forces were pressing for
improved tactical positions to advance in the Bakhmut and Avdiivka directions.
About 16 settlements, including Bakhmut and Avdiivka, were shelled by tanks,
mortars, barrel and rocket artillery, the General Staff of Ukraine's armed
forces added.
Russian forces are on the defensive along the Zaporizhzhia
frontline while hitting four settlements in the Donetsk region and six in the
Zaporizhzhia region, Ukraine's army added.
Russia's defence ministry said its troops were conducting
successful operations in the area of Bakhmut and had pushed back Ukrainian
attacks in the Donetsk direction.
Russian-installed officials in the occupied Donetsk said
Ukraine fired at least 10 Grad rockets into the city. There was no word on
casualties.
In Kryvyi Rih, among the largest cities in southern Ukraine,
Russian rockets killed one person and wounded three just after midnight, the
governor of the Dnipropetrovsk region, Valentyn Reznichenko, said.
"They aimed at an industrial enterprise,"
Reznichenko said on the Telegram messaging app without giving details.
Reuters could not independently verify battlefield reports.
The head of US intelligence said fighting in Ukraine was
running at a "reduced tempo" and that militaries on both sides were
looking to refit and resupply to prepare for a counter-offensive after the
winter.
- Reuters
Oil price cap Oil price G7 Russia Ukraine crisis
Comment
Pakistan, the South Asian nation with a population of over 220 million people, is facing a severe financial crisis that has put the country on the brink of bankruptcy. The country's economy has been struggling for several years, with a range of factors contributing to the crisis. Here are some of the reasons why Pakistan is on the verge of bankruptcy.
President Vladimir Putin has held extensive meetings with the military top brass overseeing Russia's campaign in Ukraine, where Moscow has stepped up bombardments, the Kremlin said Saturday. "On Friday, the president spent the whole day at the army staff involved in the special military operation in Ukraine," a statement said.
US Deputy Assistant Secretary in the Bureau of South and Central Asian Affairs (SCA) Afreen Akhter has said the United States sees Bangladesh as a “truly important strategic partner" and looks forward to working over the next 50 years for a stronger relationship. She said in the last 50 years Bangladesh-US relations have seen incredible progress between the peoples, economies and governments.
North Korea fired around 130 artillery shells into the sea off its east and west coasts on Monday, South Korea's military said, in the latest apparent military drill near their shared border. Some of the shells landed in a buffer zone near the sea border in what Seoul said was a violation of a 2018 inter-Korean agreement designed to reduce tensions.
A Group of Seven (G7) price cap on Russian seaborne oil came into force on Monday as the West tries to limit Moscow's ability to finance its war in Ukraine, though Russia has said it will not abide by the measure even if it has to cut production. The G7 nations and Australia on Friday agreed a $60 per barrel price cap on Russian seaborne crude oil after European Union members overcame resistance from Poland. Russia is the world's second-largest oil exporter.