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UK Announces Measures to Restrict Family Members of International Students Amid Immigration Pressure

London – The UK government has announced significant restrictions on student visa routes in a bid to reduce net migration. The new measures include limiting the ability of international students to bring family members, except for post-graduate research routes, and preventing individuals from using student visas as a backdoor entry to work in the country.

According to the Office for National Statistics (ONS), net migration from June 2021 to June 2022 was estimated to be over 500,000. While temporary factors such as the UK’s Ukraine and Hong Kong schemes contributed to the rise, nearly half a million student visas were issued last year. The number of dependants of overseas students has also surged by 750% since 2019, reaching 136,000 people.

The government emphasized its commitment to the International Education Strategy, acknowledging the economic contribution that students bring to the UK. However, it stressed that this should not come at the expense of the government’s promise to the public to lower overall migration and prioritize highly skilled individuals who can offer the most benefit to the country.

The proposed changes to the student visa route, set to take effect from January next year, aim to align with the International Education Strategy while significantly reducing net migration. The government confirmed that the terms of the graduate route will remain unchanged.

To prevent visa system misuse, overseas students will be barred from switching from the student visa route to work routes until they complete their studies. The government also plans to review the financial requirements for students to demonstrate their ability to support themselves and their dependants in the UK. Additionally, measures will be taken to clamp down on unscrupulous international student agents who support inappropriate visa applications.

The government believes that in conjunction with the easing of temporary factors, these changes will lead to a considerable decline in net migration over the medium term. The reforms aim to strike a balance between supporting the UK economy, including its world-leading education institutions, and fulfilling the government’s commitment to reducing overall net migration.

Home Secretary Suella Braverman stated that while the UK remains a top destination for the brightest students, there has been an unprecedented rise in the number of student dependants entering the country. Braverman highlighted the importance of tightening this route to cut migration numbers, protect public services, and support the economy.

Education Secretary Gillian Keegan echoed the sentiment, emphasizing that reducing the number of family members brought to the UK by students is necessary while maintaining the commitment to the International Education Strategy.

Following the UK’s departure from the EU, the government implemented a points-based immigration system to gain full control over the country’s borders. The system is designed to adapt to the needs of the economy and labor market, ensuring access to the skills and talent required by UK businesses and the NHS.

The government will continue to review its immigration policies to ensure they align with public commitments regarding net migration.

HSBC Appoints Head of Wealth and Personal Banking for South Asia to Drive Expansion

Singapore – HSBC has announced the appointment of Kai Zhang as the head of Wealth and Personal Banking (WPB) for South Asia, effective from June 26. Zhang, with over 25 years of experience in the financial services sector, will be based in Singapore and report to WPB Chief Executive Nuno Matos and APAC co-CEO Surendra Rosha.

In her new role, Zhang will be responsible for spearheading the expansion of HSBC’s WPB division in South Asia, covering eight markets including Singapore, India, Taiwan, Australia, Malaysia, Indonesia, Vietnam, and the Philippines. She will work towards strengthening the connection between WPB in South Asia and HSBC’s wholesale banking franchises, as well as its global network.

Prior to joining HSBC, Zhang held leadership positions at prominent financial institutions such as Citi and McKinsey & Company, leveraging her extensive financial services experience in North America and Asia. Most recently, she served as the CEO and General Manager of Manulife-Sinochem Life Insurance Company since 2016.

HSBC’s WPB unit in South Asia has experienced significant growth in invested assets, net new invested assets, and wealth management revenues in 2022, with double-digit percentage increases. Singapore witnessed a 22 percent growth in invested assets, while India saw a remarkable surge of 215 percent. Additionally, the bank recorded a more than 50 percent increase in international accounts from new customers during the same period.

Nuno Matos, WPB Chief Executive, expressed enthusiasm for the future, stating, “[South Asia’s] economic dynamism and demographic profile are fuelling wealth creation and uplifting communities, providing long-term opportunities that are squarely within our reach. It’s an exciting time to grow with our customers in these markets, and we’re committed to deepening our investments in the region.”

With Kai Zhang’s appointment, HSBC aims to capitalize on the flourishing economic landscape of South Asia and leverage the region’s potential for long-term growth. The expansion of the WPB division in South Asia reflects the bank’s commitment to serving its customers and reinforcing its presence in key markets.

His Holiness Mahant Swami Maharaj receives warm reception and offers blessings to Londoners

London, May 23, 2023 – The Mayor of London, Sadiq Khan, expressed his privilege and honor as he welcomed His Holiness Mahant Swami Maharaj to the city, emphasizing the significant role the esteemed Hindu leader plays in the global community. During his visit to BAPS Shri Swaminarayan Mandir, popularly known as the Neasden Temple, the Mayor joined thousands of devotees in receiving blessings from His Holiness.

His Holiness Mahant Swami Maharaj, who serves as the global spiritual leader to hundreds of thousands of Hindus in London and over a million in the UK, is currently staying at the temple. The Mayor had a private audience with the revered spiritual leader, who bestowed blessings and well wishes upon him and the city of London.

The visit on Sunday, May 21, witnessed a gathering of more than 3,000 worshippers, where the Mayor addressed the congregation with a short speech. In his remarks, Mayor Sadiq Khan expressed his gratitude to the leadership and elders of the Neasden Temple for their warm welcome and hospitality. He also acknowledged the invaluable contributions of Hindu Londoners, both socially and economically, while celebrating the city’s rich diversity.

Mayor Khan commended the relentless efforts of BAPS volunteers in serving the diverse communities of London. He highlighted their initiatives to promote vaccination uptake and their commitment to fostering interfaith dialogue, which has helped break down barriers within the city.

This is not the first time Mayor Sadiq Khan has visited the Neasden Temple. He previously attended the Diwali celebrations in November 2022, demonstrating his commitment to recognizing and celebrating the cultural and religious diversity of London.

The Mayor’s warm reception of His Holiness Mahant Swami Maharaj and his acknowledgment of the vital role played by Hindu communities in London reinforce his pledge to be a Mayor for all Londoners.

How debt-for-nature swaps can help create a more resilient South Asia

Omair Ahmad

Last year, Sri Lanka was plunged into economic crisis. As the country struggles in the aftermath of its sovereign debt default in April 2022, officials have said they are considering a debt-for-nature swap. If this happens, this would remove USD 1 billion from Sri Lanka’s outstanding USD 40 billion of debt.

With Ecuador having earlier this month completed the world’s biggest debt-for-nature swap to date, taking roughly USD 1.6 billion off its national debt, these deals look set to play a bigger role in dealing with both debt burdens and biodiversity conservation.

Being home to some of the world’s most important biodiversity hotspots, South Asian countries, several of which are struggling under the weight of their debt, could benefit from these innovative schemes.

How do debt-for-nature swaps work?
A debt-for-nature swap can be multi-party or bilateral. The most common form of multi-party debt-for-nature deal is when a third-party institution – usually an international non-governmental organisation such as Conservation International – buys part of a country’s external debt from the institution that had bought it initially, often at a discount. That organisation then agrees to let the debtor country pay the debt off by investing a certain amount of local currency – usually significantly less than the face value of the original debt – in a biodiversity conservation plan.

In a bilateral deal, a country which owns some of another country’s debt agrees to discount it in exchange for the debtor country investing an agreed amount in a conservation plan. This frees the indebted country from having to pay off some of its debt in US dollars ­(which international debt is paid in), and it can instead invest its own resources to preserve its biodiversity.

The history of debt-for-nature swaps
The notion of debt-for-nature swaps was first mooted in 1984 by Thomas Lovejoy, the former vice-president for science at the World Wildlife Fund-US, in response to the Latin American debt crisis. The first debt-for-nature swap was a third-party deal facilitated by Conservation International. Finalised in 1987, it involved foreign creditors agreeing forgive USD 650,000 of Bolivia’s debt in exchange for the country setting aside 1.5 million hectares in the Amazon Basin for conservation efforts.

Initially, debt-for-nature swaps were largely offered to Latin American countries, and later to some African countries, Poland, and some countries in the Middle East. These included bilateral debt-for-nature deals accepted by the Paris Club – an informal group of creditor countries – in the 1990s. According to analysis published in October 2022 by the African Development Bank, the 140 debt-for-nature swaps that took place between 1987 and 2003 accounted for a total of USD 1 billion, with a median value of about USD 25 million each, with the most credit-for-nature swaps made in the 1990s.

How debt-for-nature swaps could help South Asia
The debt crisis currently facing the Global South has highlighted the need for new solutions. Debt-for-nature swaps are seen by many actors – from governments and financial institutions to conservation organisations – as an important part of this. This is because developing countries face two interlinked problems. First, they need to borrow from international creditors to finance their development plans. Second, they must insulate, or adapt, their development to deal with the increasing impacts of climate change and biodiversity loss.
The scale of the challenge is striking in South Asia. Sri Lanka is still dealing with the impact of its poor financial management. Pakistan’s deeply indebted economy is struggling to recover from the 2022 floods, the cost of which is estimated at over USD 30 billion. While donors had pledged over USD 8 billion in aid, much of this has yet to be received. The Maldives, Nepal and Bangladesh are all struggling with rising food and housing costs, while India’s growth has slowed significantly.

Meanwhile, with the US Federal Reserve hiking interest rates, investments are flowing back into the United States. Developing countries have to contend with a stronger dollar, meaning the cost of repaying debt has increased. Researchers have calculated that “creditors will need to forgive up to USD 520 billion of the USD 812 billion in debt some 61 countries need to have restructured”.

The future for debt-for-nature swaps
The scale of the global debt crisis as well as the need for environmentally sensitive development make debt-for-nature swaps increasingly attractive, but there are major challenges to implementing them. The case of Belize’s 2021 debt-for-nature swap is illuminating in terms of what a deal can, and cannot, do. As Belize looked at a possible debt default or a highly austere loan, it reached a complicated deal with the Belize Blue Investment Company (created by NGO The Nature Conservancy) and Credit Suisse, through which it was able to wipe off some of its debt and instead issue ‘blue bonds’ to preserve its marine ecosystems.

While the deal helped Belize to avoid a painful financial decision, and certainly achieved investment in conservation, it only wiped away 12% of the country’s debt, at a price of USD 85 million in long-term transaction costs. Belize was still left with huge debts. Since debt-for-nature swaps are not part of normal financial institutional systems, the costs of insuring such transactions are high. Furthermore, credit agencies still regard them essentially as defaults, meaning the country’s credit rating gets downgraded, if not as much as in a full default.
A 2022 International Monetary Fund article notes that grants offer a simpler way of dealing with debt, stating that, “a swap cannot restore solvency [to a debtor country] unless it involves a sufficiently large share of a country’s debt and substantial relief… So far, no swap has come close to achieving this.” Furthermore, it seems contrary that a country should have to be at the point of economic collapse before a debt-for-nature swap is put in place, especially considering that if the developed countries that hold the debt, such as the members of the Paris Club, paid what they had pledged to developing countries in terms of climate finance, the debtor country might not have to be pushed to the brink of bankruptcy in the first place.

Despite these problems, the debt-for-nature swap market appears to be growing – Bloomberg estimates that it will reach USD 800 billion. This would go a long way towards reaching the goal of USD 4.3 trillion in annual financial flows by 2030 that think tank the Climate Policy Initiative estimates will be needed to offset the worst impacts of climate change. Protecting the natural environment remains one of the best way to combat those impacts, and debt-for-nature swaps could enable developing countries to do this while giving them fiscal space to pursue their development goals.

This story was originally published in The Third Pole.

Nepal Announces Preliminary Squad for ICC Cricket World Cup Qualifiers

KATHMANDU: Nepal’s national cricket team is gearing up for the upcoming ICC Cricket World Cup Qualifiers in Zimbabwe as Coach Monty Desai announced the preliminary squad consisting of 22 players.

The preliminary squad includes talented players such as Kushal Bhurtel, Aasif Sheikh, Gyanendra Mall, and captain Rohit Poudel. Other notable names in the squad are Kushal Malla, Aarif Sheikh, Dipendra Singh Airee, and Sandeep Lamichhane, among others. The team will undergo intense training starting tomorrow, with the aim of honing their skills and boosting morale.

After the week-long training, the final 15-member squad for the World Cup Qualifiers will be announced. The national team is set to travel to South Africa next week for further preparations before the tournament. The Cricket Association of Nepal (CAN) is making arrangements to send the team to South Africa on May 31.

Prior to their departure for South Africa, the Nepali team will undergo a week of training at home. Following this, the final squad will be announced. The team will then spend ten days in South Africa for rigorous preparation before heading to Zimbabwe a week before the tournament commences.

The World Cup Qualifiers will feature ten teams, including four test-playing nations. Former champions Sri Lanka, two-time champions West Indies, Ireland, and host nation Zimbabwe will participate in the tournament. Alongside Nepal, Oman and Scotland have secured their places in the qualifiers from League-2.

The Nepali cricket team is looking forward to showcasing their skills and putting up a strong performance in the qualifiers as they aim to secure a spot in the ICC Cricket World Cup.

Overheating World on Course to Break 1.5C Temperature Limit, Scientists Warn

Scientists predict that our warming world is set to surpass a critical temperature threshold for the first time in the next few years, raising concerns about accelerating climate change. According to researchers, there is a 66% probability that we will exceed the 1.5C global warming limit between now and 2027.

The likelihood of surpassing this limit is increasing due to ongoing human-generated emissions and the potential occurrence of an El Niño weather pattern later this year. Although breaching the threshold would be worrying, scientists believe it would likely be temporary in nature.

If the world exceeds the 1.5C limit, it means that the average global temperature would be 1.5 degrees Celsius warmer than it was during the second half of the 19th Century, before industrialization led to a significant increase in fossil fuel emissions. Breaking the limit, even for just a single year, indicates that warming is accelerating rather than slowing down.

The figure of 1.5C has become a symbolic target in global climate change negotiations, with countries pledging to make efforts to limit temperature rises under the 2015 Paris Agreement. Sustained surpassing of this limit over a decade or more would result in more severe consequences, including prolonged heatwaves, intensified storms, and increased frequency of wildfires.

However, exceeding the 1.5C threshold in the coming years does not necessarily mean that the Paris limit has been breached permanently. Scientists emphasize that there is still time to mitigate global warming by drastically reducing emissions.

The World Meteorological Organisation (WMO) has been providing estimates of the chances of surpassing the 1.5C threshold since 2020. Initially, they predicted less than a 20% likelihood of exceeding 1.5C within the next five years. By last year, the probability had risen to 50%, and now it stands at 66%, indicating that surpassing the limit is becoming increasingly likely.

While the 1.5C figure is not a direct measurement of the world’s temperature, it serves as an indicator of the extent of global warming compared to the long-term average. Scientists use average temperature data from 1850-1900 as a reference point for pre-industrial levels.

Over the past few decades, global temperatures have risen by 1.28C above the pre-industrial figure, with 2016 being the warmest year on record. Researchers are now 98% certain that this record will be broken before 2027 and believe that the 1.5C threshold will likely be surpassed within the next few years.

Although the temporary exceedance of 1.5C would be unprecedented in human history, it would need to be sustained for 20 years to indicate a breach of the Paris Agreement’s long-term warming goals.

The two key factors contributing to the increased likelihood of surpassing the limit are the ongoing rise in carbon emissions from human activities, despite a temporary decline during the pandemic, and the potential occurrence of an El Niño event, which would further elevate global temperatures, BBC reported.

The impacts of surpassing the 1.5C threshold would vary globally, with the Arctic experiencing warming at a higher rate than other regions. Northern Europe, including the UK, is expected to see increased rainfall during the May to September period over the next five years, according to the report.

While the situation is concerning, scientists emphasize that there is still an opportunity to mitigate the effects of climate change by taking immediate and significant actions to reduce emissions and implement sustainable practices.

What is Next for the Left-Wing Politics in India?

Bhabani Shankar Nayak

The defeat of BJP-led Hindutva politics in Karnataka is cause for celebration and hope for India’s secular constitutional democracy. The people of Karnataka rejected divisive and bigoted politics under Mr. Narendra Modi’s leadership. His campaign focused on polarization, while the Congress Party led a positive campaign. The Congress Party successfully consolidated its votes and organization, countering Hindutva propaganda with its five ‘guarantees’ policy promises. These guarantees include providing 200 units of free electricity to every household through ‘Gruha Jyothi’, grant of Rs 2,000 to every woman heading a family through ‘Gruha Lakshmi’, 10 kg of rice per month to every member of BPL families through ‘Anna Bhagya’, sanctioning of Rs 3,000 to unemployed graduates and diploma holders (18-25 age group) for two years through ‘Yuva Nidhi’,’ and offering free travel for women through the ‘Shakti’ scheme. These alternative policies were crucial to the Congress Party’s victory.

In spite of electoral defeat, the Hindutva politics continues to enjoy significant support base in Karnataka. The BJP has secured 36% of the total votes, which shows that Hindutva is defeated but not down. The Hindutva forces led by BJP is going to be more reactionary to consolidate their higher caste Hindu vote bank after their electoral defeat. Therefore, it is imperative to move beyond electoral populism to deracinate Hindutva to ensure prosperity, peace and social harmony among all communities in the state.  The progressive and democratic governance along with educational and cultural interventions based on material history and science can shape popular culture to dismantle Hindutva project and its base.  

The decline in vote share of left parties in the Karnataka assembly election is a disturbing outcome. These parties lost elections in all their strongholds. Some lazy political analysis attributes this to weak trade union movements and identity politics. The left parties have engaged in internal conflicts and formed political alliances without a clear direction, prioritizing personal differences over ideological class positions. This decline in the left’s vote share is disastrous for the working people of the state and sends a negative signal to national politics. The political disunity among left parties is a clear example of missed opportunities in working-class politics and the promotion of radical political consciousness. Once again, the left parties have failed to effectively address the challenges posed by the capitalist onslaught led by Hindutva fascism in India.

The communist parties have failed to come to an understanding for an united left front based on issues of people. It sends a wrong signal to the masses that left parties lack basic understanding of their everyday issues and challenges in life. The Communist Party of India (Marxist) had its tactical alliance with the Janata Dal (Secular) and the Republican Party of India (Prakash Ambedkar faction) (RPI-K). The JD (S) has provided outside support to the alliance candidates in three seats only when RPI-K contested for ten seats and the CPI(M) contested four seats.The Socialist Unity Centre of India (Communist) [SUCI(C)] has fought in fourteen constituencies in ten districts. The Communist Party of India (Marxist-Leninist) and Liberation (CPI-ML) have contested in two seats. The CPI and CPI (M) candidates have fought against each other in the KGF seat where as the CPI-ML and CPI (M) have fought against each other in KR Puram (Bengaluru Urban district). The CPI (M) and SUCI (C) have contested against each other in the Gulbarga rural seat. The left parties have fought against each other and lost in several seats without forming any form of political understandings.Such a political trend in left politics only empowers reactionary political forces in the long run. The disunity of left weakens working people, citizenship rights, and their share in the democratic politics. The electoral defeats of the left political parties weaken the welfare and democratic state. 

Political Collaboration and Cooperation

Left politics is the moral compass and political anchor of the working people to uphold the economic interests of the masses for a progressive and democratic society. Left unity is central to the working-class political project in India. The political collaboration and cooperation among left wing political parties, groups and movements based on common objectives and shared values are crucial to achieve collective political progress and deepening of working-class politics. There is no doubt that the left encompasses a diverse range of ideologies and perspectives, the principle of left unity must encourage setting aside differences and focusing on shared values and goals. The significance of left unity in fostering social change, addressing common challenges, and promoting a more equitable and just society depends on the collective struggles of the left parties. The mass movements can overcome the ideological fragmentations by acknowledging the inherent strengths in diversity. 

The left unity challenges existing power structures and promotes dialogue, understanding, and the exchange of ideas. It encourages activists, organizations, and political parties to unite their efforts, pooling their resources, skills, and networks to create a more powerful force for change. By building bridges rather than walls, left unity amplifies the collective voice of the left, making it more effective in challenging existing power structures and advocating for progressive policies.  The left parties and their unity can only mobilise people against all forms of inequality and exploitation in the society by appealing to the wider society.  This wider collaboration enables the left to create coalitions that span various social, economic, and cultural divides. The united left can achieve greater influence and electoral success, translating its ideals into tangible policy changes for societal transformation. The left parties need to amplify the voices and interests of the working people by transcending ideological differences and focusing on shared goals, left unity can pave the way for significant social, economic, and environmental transformations.

Ultimately, the future of left-wing politics in India depends on the actions and strategies adopted by the parties involved, the ability to connect with the aspirations and concerns of the people, and the capacity to effectively navigate the changing political landscape.Left unity can provide foundations for progressive social, economic, cultural and environmental transformation by upholding interests of the working people. Left politics can only shape the future of a formidable mass movement capable of challenging all exploitative structures to create peaceful and egalitarian society. The forward march of the Left unity is not only the starting point but also the only available alternative to defeat the twin dangers of Hindutva fascism and capitalism in India.

(The author is Professor at the University for Creative Arts, UK. The views expressed here are his own – Ed.)

Unstoppable Warrior: Double Amputee Hari Budha Magar Makes History Scaling Mount Everest

London — Hari Budha Magar, a 43-year-old Army veteran from Canterbury, has achieved a remarkable feat by becoming the first double above-the-knee amputee to reach the summit of Mount Everest. Nepal born ex-gurkha Hari, who lost both his legs in Afghanistan, embarked on this expedition with the intention of making mountaineering history while inspiring others and changing perceptions about disability.

After an arduous journey, Hari and his team successfully reached the summit at approximately 15:00 BST on Friday.

Hari’s life took a drastic turn when he stepped on an improvised explosive device (IED) in Afghanistan back in 2010. Waking up after the incident, he initially felt as if his life had come to an end. However, through activities such as skiing, golfing, cycling, and climbing, he regained his confidence and embarked on this extraordinary journey.

Accompanied by a team of Nepalese climbers, led by Krish Thapa, himself a former Gurkha and SAS mountain troop leader, Hari set off on this ambitious mission eleven days ago. When faced with challenges along the way, Hari drew strength from the support of his “amazing” family and the individuals who had assisted him throughout his journey.

Hari’s motivations for undertaking this formidable climb extended beyond personal achievement. He aimed to challenge society’s perceptions of disability and inspire others to conquer their own mountains, emphasizing that with the right mindset, anything is possible.

Following the successful ascent, Hari and his team will take a well-deserved rest before he returns to the UK later this week, carrying with him a legacy of determination and resilience that will undoubtedly leave a lasting impact.

British Mountain Guide Sets New Record with 17th Ascent of Mount Everest

KATHMANDU, Nepal — Kenton Cool, a British mountain guide, has returned to Kathmandu after successfully scaling Mount Everest for the 17th time. His achievement surpasses his own previous record for the most ascents of the world’s highest mountain by a non-Sherpa guide.

Cool initially conquered Mount Everest in 2004 and has continued to undertake the challenging climb almost every year since then. However, he humbly stated, “I really don’t think records belong on the mountains. Mountains are bigger than records.” Expressing satisfaction with the successful climb and safe return, he added, “I am just happy we had a great climb and that we are back.”

While Cool holds the record for a non-Sherpa guide, Nepali Sherpa guides have achieved even more ascents. Veteran Sherpa guide Kami Rita recently completed his record-breaking 27th ascent of the mountain, while Pasang Dawa has scaled Everest 26 times. Both guides, along with their climbing groups, are still on the mountain, and there is a possibility that they may reach the summit again before the spring climbing season concludes at the end of this month.

Currently, hundreds of climbers and their local guides are present on Everest, and a surge of summit attempts is expected in the coming weeks. This season, Nepalese authorities issued approximately 470 permits to climbers for Everest.

Regrettably, this year has witnessed the loss of nine lives on Everest, including four Sherpa guides.

Cool faced obstacles in previous years that prevented him from ascending Everest. In 2014, the climbing season was canceled due to an avalanche that claimed the lives of 16 Sherpa guides. The following year, an earthquake-triggered avalanche resulted in the tragic deaths of 19 people. Additionally, the 2020 climbing season was canceled due to the global coronavirus pandemic.

Cool’s remarkable accomplishment serves as a testament to his skill, determination, and enduring passion for mountaineering.

India to withdraw 2,000 rupee notes from circulation

NEW DELHI — India’s central bank on Friday announced it will withdraw rupees 2,000 currency notes from circulation.

The Reserve Bank of India (RBI), however, added that the 2,000 rupee notes will continue to be legal tender until Sept. 30.

The RBI has advised banks to stop issuing rupees 2,000 denomination banknotes with immediate effect.

The RBI first printed the rupees 2,000 note in November 2016 after Indian Prime Minister Narendra Modi in a surprise televised address to the nation announced the withdrawal of currency notes of rupees 500 and 1,000 from the country’s financial system.

The controversial move on Nov. 8, 2016, known as demonetization, took 86 percent of the currency out of circulation overnight from India. The announcement triggered panic among the public, who queued outside banks and ATMs to exchange the banned currency notes and withdraw cash.

The move turned out to be a nightmare for the poor and middle class.

The government had defended scrapping high-value currency notes, saying the measure was meant to root out illegally hoarded cash and to crack down on corruption and terror financing.

The government later introduced new rupees 500 and 2,000 denomination notes.

Critics said the widely known move of demonetization badly hurt India’s cash-dependent economy. Small businesses and manufacturers suffered losses because of the move, thus bringing on an economic slump and financial chaos for tens of millions of ordinary cash-dependent Indians for months together.

Nine months after demonetization, RBI data revealed that 99 percent of demonetized currency was back with the banks.

In January this year, the country’s top court upheld the legality of the decision. (Xinhua)

Bhutan: Rural community ‘Tsirang’ aims for prosperous future under Mawong Yuetshen project

Thimphu : Tsirang, a rural community aiming for a prosperous future, is experiencing a wave of positive transformation through the revolutionary ‘Mawong Yuetshen’ project in Bhutan.
This innovative rural development and community involvement effort has promoted collaboration among public workers, local leaders, and villagers, empowering them to alter their own gewogs. During its trial phase, the programme, structured as an idea competition, drew over 70 participants and comprised approximately 30 unique activities, according to Bhutan Live.
The Batasay farmers of Tsirang submitted an interesting participation in the competition. Their successful endeavour involved connecting the sacred place of Dophu Ney, which is located above their village, and a safe drinking water source.
Moreover, they also built essential amenities such as a kitchen and a toilet, which in return enhanced the facilities at the site.
According to Bhutan Live, the Batasay farmers’ outstanding efforts earned them the title of winners among the seven competing groups, as well as a financial award of Nu 120,000. With this financial boost, the group hopes to improve the site’s appeal and attract both domestic and foreign tourists.

Similarly, the Aesthetic Rangthangling group, led by Rangthangling Gewog local leaders, created a lovely rock garden, giving a tranquil location for relaxation and pleasure.
Their project came in second place in the competition, winning them a hefty prize of Nu 70,000, according to Bhutan Live.
Basically, the “Mawong Yuethsen” initiative was launched in September of last year and organized by the Project for Rural Development (PRuDent) in collaboration with RENEW Microfinance.
This campaign, inspired by the successful “Our Village Has a Future” concept that originated in Germany in 1961, strives to illustrate that when villages band together, they can accomplish extraordinary feats for their communities even without significant financial resources, Bhutan Live reported.
Participants in this programme are needed to register their ideas and are given a six-month timetable to bring their plans to life. Following that, the entries are evaluated and assessed. (ANI)

Study Finds Over Half of World’s Large Lakes and Reservoirs Have Shrunk Due to Climate Change

London – A recent study conducted by an international team of researchers has revealed that more than 50% of the world’s large lakes and reservoirs have experienced significant shrinkage since the early 1990s, primarily due to climate change. The findings have raised concerns about the availability of water for agriculture, hydropower, and human consumption.

The study, led by Fangfang Yao, a surface hydrologist at the University of Virginia, analyzed nearly 2,000 large lakes using satellite measurements and climate and hydrological models. The research highlighted the alarming rate at which some of the most critical freshwater sources, such as the Caspian Sea and Lake Titicaca, have been losing water. The cumulative rate of water loss across these lakes amounted to approximately 22 gigatonnes per year over a span of nearly three decades, equivalent to about 17 times the volume of Lake Mead, the largest reservoir in the United States.

Yao emphasized that 56% of the decline in natural lakes could be attributed to climate warming and human consumption, with warming playing a larger role. This contradicts the common assumption that arid areas will become drier and wet areas wetter under climate change. Even humid regions experienced significant water loss, indicating the gravity of the situation.

The causes behind the shrinking lakes are multifaceted. Unsustainable human use, changes in rainfall and run-off patterns, sedimentation, and rising temperatures have collectively contributed to the decline in lake levels globally. From 1992 to 2020, 53% of the assessed lakes showed a decrease in size, impacting nearly 2 billion people living in drying lake basins. Many regions have already been facing water shortages in recent years.

The study’s findings underscore the urgency of limiting global warming to prevent the most catastrophic consequences of climate change. Climate scientists and campaigners have long advocated for keeping the temperature rise below 1.5 degrees Celsius (2.7 degrees Fahrenheit). However, the current rate of global warming stands at approximately 1.1 degrees Celsius (1.9 degrees Fahrenheit).

The study highlighted specific examples of lake shrinkage caused by unsustainable human use, such as the Aral Sea in Central Asia and the Dead Sea in the Middle East. Rising temperatures have also impacted lakes in Afghanistan, Egypt, and Mongolia, leading to increased water loss to the atmosphere. However, it’s worth noting that water levels rose in 25% of the lakes analyzed, primarily due to dam construction in remote areas like the Inner Tibetan Plateau.

The research serves as a wake-up call for policymakers and governments worldwide to address the urgent need for sustainable water management practices and prioritize climate change mitigation efforts. Failure to do so could exacerbate water scarcity issues, impacting agriculture, energy generation, and human livelihoods in the future.

HRW condemns Bangladesh, Myanmar on plan to repatriate Rohingya

The Human Rights Watch (HRW) has criticised the plan to return Rohingya refugees from Bangladesh to Myanmar, stating it poses “grave risks” to their lives and liberty.

Currently, Bangladesh is home to about a million Rohingya, most of whom fled a 2017 military crackdown in Myanmar that is now subject to a United Nations genocide investigation, reports Al Jazeera.

According to recent reports, even though the UN has said repeatedly the conditions are not right, both countries are planning to return 1,100 people in a pilot project in the coming weeks.

“Bangladesh authorities shouldn’t forget the reasons why Rohingya became refugees in the first place, and recognise that none of those factors have changed,” HRW said.

“Bangladesh is frustrated with its burden as host, but sending refugees back to the control of a ruthless Myanmar junta will just be setting the stage for the next devastating exodus,” the group said in a statement.

However, Bangladesh’s refugee commissioner Mizanur Rahman has rejected any claims of coercing the Rohingya to return or not consulting them.

“The repatriation is voluntary,” Rahman told AFP news agency. “The HRW claim is untrue.”

Currently, approximately 600,000 Rohingya in Myanmar’s Rakhine state are confined to squalid camps and villages that leave them vulnerable to extreme weather events such as the recent Cyclone Mocha, it added.

The cyclone has killed at least 81 people, according to statements given by local leaders and officials, as well as state media tallies.

This month, 20 Rohingya visited two resettlement camps in Rakhine where the military government plans to house them, says Al Jazeera.

“We are not ready to take a single step towards Myanmar. The arrangement they made for us isn’t enough for our safety. We also have not got any justice for the persecution done to us before,” said 38-year-old Hafiz Solaiman.

“We don’t trust the Myanmar government 1%.”

A second man, Ullah, who did not want to give his full name, said Myanmar’s army had made no attempt to save his relatives from Mocha.

“What they have built for us there has now been hit by the cyclone,” he added.

Peace Initiative Bhutan Condemns Nepali Politicians’ Organized Crime Against Bhutanese Refugees

Columbus, Ohio – Peace Initiative Bhutan (PIB) has strongly denounced the organized crime orchestrated by high-ranking Nepali politicians and bureaucrats, which has caused significant harm to legitimate Bhutanese refugees and undermined the integrity of the refugee resettlement process. PIB is demanding swift action to bring the perpetrators to justice and supports a fair and impartial investigation.

PIB is calling upon the Ministry of Home Affairs, Narayan Kaji Shrestha, Prime Minister Puspa Kamal Dahal, and Nepal Police to stand firmly in upholding the rule of law and restore international confidence in Nepal’s justice system.

The remaining Bhutanese refugees in eastern Nepal are facing immense suffering, lacking adequate education, healthcare, employment opportunities, and a fair and just solution to their situation. PIB considers it a complete dereliction of duty that culprits have exploited the vulnerability of Bhutanese refugees for monetary gain.

PIB stands in solidarity with the affected refugees and emphasizes the importance of holding those responsible accountable. The Nepali government must take immediate and decisive action to ensure justice and put an end to this criminal activity. Upholding the rule of law is crucial for restoring trust in the refugee resettlement process and securing justice for the victims.

PIB is urging collaboration among the Nepali government, core group countries that have successfully resettled Bhutanese refugees (including Bhutan), and international stakeholders. Immediate consultations are required to find solutions for the remaining Bhutanese refugees and address the root causes of the crisis. Together, they can work towards sustainable solutions that uphold human rights and support those affected by forced displacement.

Additionally, PIB is calling upon the international community to support peacebuilding and reconciliation efforts in Bhutan. The organization advocates for reuniting families, releasing political prisoners, healing, acknowledging past wrongdoings, and holding the perpetrators accountable through a holistic peacebuilding and reconciliation process. It emphasizes the importance of all stakeholders joining hands in promoting peace, justice, and respect for the rights of refugees to find a fair and amicable solution.

Background: The government of Bhutan forcibly exiled over 100,000 Bhutanese citizens in the late 1980s and early 1990s due to their dissent against the forced national integration policy and retroactive implementation of the Citizenship Act of 1985. While approximately 115,000 individuals have accepted the third-country resettlement program, around 7,000 Bhutanese refugees remain in two camps in Nepal.

About PIB: Peace Initiative Bhutan (PIB) is a non-profit organization established in 2020 by diasporic Bhutanese families whose members are divided between Bhutan and the countries they settled in. PIB became publicly known in April 2022, operating under the auspices of Global Citizens Circle, a US-based organization with a history of involvement in peace and reconciliation processes in Northern Ireland, South Africa, and the Middle East.

Over 1000 youths, students participate in anti-corruption rally in Nepal

Over a thousand youths and students participated in a anti-corruption rally here on Monday, demanding action against those involved in the fake Bhutanese Refugee scam.

The rally was held as former deputy prime minister Top Bahadur Rayamajhi and former home minister Bal Krishna Khand among several others were arrested last week in connection the scam, under which Nepali nationals were sent to the United States by forging fake documents of them being Bhutanese refugees.

On Monday, the student organisations and youth bodies belonging to the ruling Nepali Congress, CPN Maoist Centre, CPN-Unified Socialist and CPN-Maoist Centre took out rallies at Bhrikutimandap area in Kathmandu.

Holding placards with slogans “We know nothing but action against corrupt”, “Investigate property of those in public post”, “Zero tolerance to corruption”, “Control price rise”, “Our future is corruption free Nepal”, the participants demanded fair probe in the Bhutanese Refugee scam.

“A group of around 1,500 youths chanted anti-corruption slogans and took rallies around Bhrikutimandap area in Kathmandu against the fake Bhutanese Refugee scam,” a participant said.

So far, governments of USA, Canada and some European countries have received more than 100,000 Bhutanese refugees sheltering in Nepal under UNHCR facilitated resettlement programme over the past one decade.
There are around 5,000 Bhutanese refugees residing in different camps across Nepal are still awaiting for third country resettlement.(PTI)

Chinese company to make high-end shoe accessories in Bangladeshi economic zone

DHAKA — The Bangladesh Export Processing Zones Authority (BEPZA) on Monday signed an agreement with a Chinese company to set up a high-end shoe accessories factory in the country.

Jibin Technology (BD) Company Limited will set up the factory in the BEPZA Economic Zone with an investment of 6 million U.S. dollars, said a press release.

The Chinese company will produce 6 million pairs of shoe accessories annually and employ hundreds of Bangladeshi nationals, it said.

The BEPZA said it has signed agreements with 18 companies from home and abroad, which will invest 400 million dollars to produce diversified products in Bangladesh. 

(Xinhua)