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Banned., Colombo (2025)

02/08/2022

First ship to carry Ukrainian grain through the Black Sea since Russia invaded Ukraine on 24th February - left the Port of Odesa for Lebanon on 01st August under safe passage.

Sailing was an outcome of a ‘grain and fertiliser export agreement’ brokered by Turkey and the United Nations, between Russia and Ukraine last month. Sierra Leone-flagged ship Razoni is said to be carrying 26,527 tonnes of Ukrainian corn.

US Secretary of State, Anthony Blinken during his visit to Bangkok 10th July said “We’re seeing the impact of this Russian aggression playing out everywhere. It may have contributed to the situation in Sri Lanka; we’re concerned about the implications around the world” Further claimed that “growing food insecurity” around the world “has been significantly exacerbated by the Russian aggression against Ukraine.”

President Vladimir Putin on 31st July, signed a new naval doctrine which casts the United States as Russia's main rival and sets out Russia's global maritime ambitions for crucial areas such as the Arctic and the Black Sea. According to the doctrine, the main threat to Russia is - "the strategic policy of the USA to dominate the world's oceans" and the movement of the NATO military alliance closer towards Russia's borders.

Tensions among US and Asian superpowers; Russia and China, are on the rise as - US tries to shift blame on Russia & China for the impending global economic crisis, during their recent vists to Asian countries.

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01/08/2022

Chinese Scientific Research Vessel 'Yuan Wang 5' is scheduled to arrive in Hambantota Port on August 11 for a week’s stay till August 17. ‘Yuan Wang’ - class vessels are used for tracking and support of satellite and intercontinental ballistic missiles. According to Y Ranaraja, Director, Belt & Road Initiative, Sri Lanka (BRISL) - The ship could conduct satellite control and research tracking in the north-western part of the Indian Ocean region.

India's Foreign Ministry spokesperson Arindam Bagchi in a media briefing stated, "The government carefully monitors any developments having a bearing on India's security and economic interests, and takes all necessary measures to safeguard them"

Chinese Foreign Ministry on 29th July stated “China hopes that the relevant parties will view and report on China’s marine scientific research activities correctly and refrain from interfering with normal and legitimate maritime activities”

US Speaker Nancy Pelosi on 31st July said “Today, our Congressional delegation travels to the Indo-Pacific to reaffirm America’s strong and unshakeable commitment to our allies and friends in the region” with no report on visiting Taiwan

Zhao Lijian, Deputy Director of China’s Foreign Ministry on 25th July stated "If the U.S. side is bent on going its own way, China will take strong measures to resolutely respond and counteract.", regarding US Speaker Pelosi’s proposed visit to Taiwan.

Tensions among world powers grow stronger each week amidst the soaring prices of commodities in the world. Developing countries continue to suffer further as hostility among powers in geopolitics rises.

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30/07/2022

Sri Lankan Economic Crisis: Samantha Power, the administrator for USAID, during her recent visit to India - admires India’s effort to aid Sri Lanka and slammed China saying “opaque loan deals at higher interest rates than other lenders” and “financed infrastructure projects that served questionable practical use.”

She further adds “The biggest question of all is whether Beijing will restructure debt to the same extent as other bilateral creditors”

Deputy Director Zhao Lijan of China’s Foreign Ministry on Thursday 28th July defended China’s massive infrastructure ventures and investments in Sri Lanka and said that they have boosted “its economic development, amid criticism from the US”

Further, Zhao blamed US for the Sri Lanka’s economic crisis stating, "We hope that the US will sincerely help Sri Lanka cope with the current difficulties and achieve sustainable development. It is hoped that the US will not use every opportunity to blame, smear other countries and engage in geopolitical games without any bottom line" and "The US has been implementing quantitative easing policies for a long time, and recently raised interest rates abruptly, causing shocks to the global economy and financial markets. The imposition of tariff barriers by the US has exacerbated the soaring prices of energy, food and other commodities, and aggravated the economic and financial situation of Sri Lanka and other developing countries”

IMF calls Sri Lanka for its immediate debt restructure prior to entering into an Extended Financing Facility (EFF). Sri Lanka’s Ministry of Finance in a press release on Friday 29th July stated “Sri Lankan authorities are working with Debt Restructuring Advisors, Lazard and Clifford Chance, to reach consensus on debt restructuring arrangement with Creditors”

How soon will IMF provide Sri Lanka with necessary financial assistance? Will China consider restructuring Sri Lankan debt as other countries look forward to restructuring theirs? Or will Sri Lankan economy further get crushed in between the power struggles of geo politics?

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29/07/2022

US Senate passed the new $280 billion “Chips and Science Act” with broad bipartisan support, 64 to 33 on Wednesday.

Yesterday 28th July, House passed this legislation with strong bipartisan support, 243-187 vote - whilst House GOP leaders push to whip against the bill.

This legislation aims to address a semiconductor shortage and to make US less reliant on other countries such as China for manufacturing. IMF predicts that US GDP will drop to 1% in 2023. How much impact will this act have on US economy amidst inflation and tensions with Russia, China and Saudi Arabia?

28th July at 20:00 GMT Nvidia (NVDA) trading at 179.84, up $14.54 (+8.79%) since Tuesday.

Paul Pelosi, husband of US Speaker Nancy Pelosi dumped 25,000 (NVDA) shares on Tuesday, a day before Senate voted for the new legislation.

28/07/2022

Paul Pelosi, husband of US Speaker Nancy Pelosi dumps 25,000 Nvidia (NVDA.O) shares worth $4.1 million on Tuesday, days before the House is expected to consider legislation providing subsidies and tax credits worth over $70 billion to boost the U.S. semiconductor industry.

US Speaker Pelosi’s husband bought 5,000 Nvidia shares in July 2021, and another 20,000 last June.

Second image contains the estimated annual returns from 1st January 2021 to late September 2021 of ‘Pelosi Stock Portfolio’. At the time of this analysis, a portfolio filled with Pelosi picks in 2021 would have returns of 26%, beating SPY at just under 20%.

28/07/2022

$4 million Kenyans depending on food aid to face major predicament. President Uhuru Kenyatta's 10 years in office has more than doubled Kenya’s economic output; including $8 billion debt from China - funded much needed infrastructure that helped spur this development.

Kenya will hold their General Election on 09th August 2022. Will the new government be able to provide relief amidst huge debt? Fuel and grain prices continue to soar with the ongoing Russia v Ukraine war.

Images: Nairobi, Kenya NYE 2022, Candidates Raila Odinga and William Ruto

Banned.

02/08/2022

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