VIF Neighbourhood News Digest: 30th November, 2018
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US dollar hits all-time high at Rs144 in interbank trading: Dawn

November 30, 2018

Sudden devaluation of local currency against the US dollar was witnessed in interbank trading on Friday morning as the greenback hit an all-time high of Rs144. Sources told DawnNewsTV that the sudden rise of Rs10 in the value of the US dollar is based on the government's commitments to the International Monitory Fund (IMF). The US dollar, which was being traded at Rs134 yesterday, opened higher at Rs142 on Friday while the local currency further devalued by Rs2 to Rs144.Click here to read..


US Shows New Evidence of Iranian Weaponry In Afghanistan, Yemen: Tolo News

November 30, 2018

The United States on Thursday displayed pieces of what it said were Iranian weapons deployed to militants in Yemen and Afghanistan, a tactic by President Donald Trump’s administration to pressure Tehran to curb its regional activities. The second presentation of Iranian weapons by the Pentagon, many of which were handed over by Saudi Arabia, coincides with growing concern in Congress over US military support for the Saudi-led coalition in Yemen's civil war, which has led to a deep humanitarian crisis. Brian Hook, the US Special Representative for Iran, told reporters the Iranian threat is growing and warned of an "accumulating risk of escalation" in the region if the United States fails to act.Click here to read..


Nepal’s trade deficit balloons; rising imports of fuel, agricultural goods continue to dent economy: Kathmandu Post

November 30, 2018

Nepal’s trade deficit ballooned 40.3 percent in the first four months of the fiscal year as rising imports of fuel and agricultural goods continue to dent the economy. According to the Trade and Export Promotion Centre (TEPC), Nepal’s trade deficit amounted to Rs454.47 billion as of mid-November, as exports of tariff-targeted goods have been nominal to balance the trade. While the country’s import bills stood at a staggering Rs483.75 billion, up 38.1 percent, export earnings inched 10.6 percent up to Rs29.28 billion. The ratio of import to export jumped 16.5:1. This means that Nepal’s export earning is Re1 against import expenses of Rs16.5.Click here to read..


Sri Lanka Agrees Port Deals With China Amid Political Chaos: NDTV

November 29, 2018

Sri Lanka signed two multi-million dollar contracts with Chinese firms for a port upgrade project on Thursday in the middle of a political hiatus that has raised doubts over the legitimacy of the government and the legality of the deals. The debt-saddled island has long been a target of Beijing's ambitious Belt and Road infrastructure scheme to connect China with countries cross Asia and beyond, while India has also been vying for deals to counter China's influence. But a political crisis triggered by President Maithripala Sirisena's replacement of Prime Minister Ranil Wickremesinghe with Mahinda Rajapaksa, who was in turn sacked by parliament, has raised doubts over who can legitimately make decisions in the country.Click here to read..


PLA keeps eye on US ships in Taiwan Straits: China Daily

November 30, 2018

The Chinese military is aware of the recent passage of two United States naval ships through the Taiwan Straits and will remain vigilant, a spokesman for the Ministry of National Defense said on Thursday.Click here to read..

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