VIF Neighbourhood News Digest: 31st August, 2018

PAKISTAN

LHC dismisses petition challenging Sharifs' conviction, legality of NAB ordinance: Dawn

August 31, 2018

The Lahore High Court (LHC) on Friday set aside a petition challenging the existence of the National Accountability Ordinance (NAO) 1999 and conviction of former prime minister Nawaz Sharif and his family members under a “dead law”. On July 6, an accountability court had handed Sharif 10 years as jail time for owning assets beyond known income and 1 year for not cooperating with NAB, as part of the Avenfield properties corruption reference filed by the National Accountability Bureau against the Sharif family. On July 11, senior lawyer AK Dogar, through a petition in the LHC, had claimed that the former prime minister and others were convicted by a court which had no jurisdiction because the law under which it (court) was created is a dead law. Click here to read... [2]

$9bn needed to run Pakistan: Finance Minister Asad Umar: Dawn

August 31, 2018

Newly appointed Finance Minister Asad Umar told the Senate on Friday that the federal government requires $9 billion to run Pakistan. "The number that we need to borrow, according to the budget, is $9 billion," said the finance minister. "But we are trying to address the root cause that compels us to borrow these $9bn. Of course, we know any measures [we take] will take time — maybe even two or three years — to bear fruit. "In the meantime, whatever gap there is, we are calculating. As soon as our plan gets finalised, which it should within one to two weeks, we will present in before the parliament, and then we will also seek suggestions from the National Assembly and Senate to improve it further." Click here to read... [3]

AFGHANISTAN

Russia ‘Monitoring’ Afghan-Tajik Border: Tolo News

August 31, 2018

Moscow is closely tracking the development of the situation on the border of Tajikistan and Afghanistan which aggravated a few days ago, the spokesperson of the Russian Foreign Ministry Maria Zakharova said as quoted by Sputnik Tajikistan on Thursday. “We are closely monitoring the development of the situation on the Afghan-Tajik border, the provision of security and stability of which is helped by the servicemen of the 201st Russian military base stationed in Tajikistan," Zakharova said during the briefing. On August 26, at approximately 15.00 (GMT + 5), an unknown armed group consisting of 10-12 people illegally crossed the border and penetrated 50-100 meters deep into the territory of Tajikistan at the border section guarded by the "Hamadoni" border detachment on the Tajik-Afghan border. Click here to read... [4]

NEPAL
4th BIMSTEC Summit concludes with Kathmandu Declaration: Kathmandu Post

The 4th Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) summit concluded on Friday with the signing of Kathmandu Declaration. In the two-day summit held in Kathmandu on August 30-31, the heads of state and government of the seven member states reiterated the need for enhancing connectivity within the region. The BIMSTEC member states have agreed to connect the nations through highway, railway, air, sea, and power-transmission line. Likewise, the member states have reached agreement to end poverty from the region by 2030 in line with the United Nations Sustainable Development Goals. The countries have also pledged to stand collectively against terrorism and terrorist financing. Click here to read... [5]

MALDIVES

China-Maldives Friendship Bridge opens to traffic: Xinhua

August 31, 2018

The China-Maldives Friendship Bridge, the first cross-sea bridge in the Maldives, opened to traffic on Thursday evening. Maldivian President Abdulla Yameen and representative of the Chinese government and head of China's International Development Cooperation Agency Wang Xiaotao attended the bridge opening ceremony. Speaing at the occasion, Maldivian President Yameen said the bridge is an embodiment of the long relations between the Maldives and China. The Chinese government has always been a willing partner for the Maldives and the bridge has proven that nothing was impossible through genuine partnership, Wang said China and the Maldives have long been true friends, treating each other as equals and pursuing mutually beneficial cooperation. Click here to read... [6]

CHINA

China announces new measures to bolster real economy: People's Daily
August 31, 2018

China has decided to roll out a raft of measures to bolster the real economy, with the goal of reducing the tax burden on businesses by more than 45 billion yuan (6.61 billion U.S. dollars) this year. The new policy support will include tax reductions for factories affected by capacity cuts and money-hungry small and micro companies, according to a State Council executive meeting chaired by Premier Li Keqiang on Thursday. Click here to read... [7]

2018 FOCAC Beijing Summit: What to expect: Xinhua

August 30, 2018

A current roadmap for China-Africa cooperation in the new era is one eagerly awaited outcome of the 2018 Beijing Summit of the Forum on China-Africa Cooperation (FOCAC), which will begin on Sept 3. Themed "China and Africa: Toward an Even Stronger Community with a Shared Future through Win-Win Cooperation," the summit will be a significant diplomatic event hosted by China this year and attended by the largest number of foreign leaders to date. Click here to read... [8]