Economics

Farmers are demanding the return of grazing land in Mayilaththamadu and Mathavanai, which is at the centre of a dispute with newcomers from other parts of the country, to whom then-President Rajapaksa granted land. The crisis is having a severe impact on milk production, a vital activity for the local economy.

The East Container Terminal (ECT) was designed to accommodate the largest container ships, but is still non-operational despite significant public investment. Four out of five tenders for straddle carriers have been cancelled, while some cranes are currently in service. Losses are projected to reach as much as US$ 126.7 million by 2027.

New funding from the World Bank for the Rogun hydroelectric power station, currently under construction in the narrow gorge of the Vakhsh River. With a planned height of 335 metres, it will double Tajikistan’s power generation capacity. The flooding of upstream areas will force the evacuation of over 50,000 people.

The Tashkent government plans to divest from 84 major companies and economic entities worth over 8 billion dollars, with the aim of attracting foreign capital and promoting the country’s modernisation. However, past experience highlights the risks of corruption and nepotism.

During Prime Minister Rahman’s visit to Bangladesh, the aim is to become a “long-term economic partner”. The focus is on several strategic sectors, including energy, information technology, railways, infrastructure and deep-sea ports.

Members of Delovaya Rossiya, one of the country’s most influential business organisations, have put forward 52 proposals for economic reform, including the abolition of the simplified tax system with a 6 per cent rate. This is a measure designed to fund the war, which would hit small businesses particularly hard.

At the meeting of the assembly comprising the parliaments of Azerbaijan, Kazakhstan, Kyrgyzstan and Turkey, Astana put forward the idea of developing a framework to create a digital network and a joint artificial intelligence centre amongst the four countries linked by linguistic and cultural affinities.

From Thailand to Malaysia, thousands of homes remain on the market despite high demand for housing. High prices, difficulty in obtaining mortgages, and locations far from workplaces are widening the gap between the available housing supply and the financial means of young workers and families.

Apps offering money to farmers and vulnerable people in difficulty are rife across the island, concealing draconian terms. In March, parliament had approved ad hoc legislation intended to tackle the phenomenon, but the necessary implementing regulation has still not been published in the Official Gazette.

In an interview with the TASS news agency, also reported on the Moscow Patriarchate’s website, Ilya Kuzmenkov, vice-chairman of the Synodal Department for Church-Society Relations, discussed how biblical principles relate to entrepreneurship, competition and active love, and whether Orthodox ethics can exist within a market economy.

The first brain-computer interface (BCI) auditory brainstem implant has been approved. China wants to challenge US leadership in a multi-billion-dollar market, with BCIs identified as one of the key sectors of the future. However, unresolved concerns remain regarding bioethics and the protection of personal data.

Iraqi Prime Minister Ali al-Zaidi wants regional energy networks and transport infrastructure to make his country a transit hub between the Persian Gulf, Turkey and European markets. While the ‘Development Road’ project, linking the port of Al Faw to the Turkish border, also presents a new opportunity for Azerbaijan.