US to award Akash Systems up to $18.2 million for chips production

By: Salman Rafi Sheikh discusses the ongoing uncertainty and risk in Sri Lankan politics despite recent elections, with the reformist NPP government enjoying significant public support. The NPP's victory in both presidential and parliamentary elections indicates a strong desire for change among the populace. However, challenges persist in maintaining democracy and stability in the country. Full Article

Two new bills introduced in the U.S. Congress aim to revoke China's permanent normal trade relations status, with one introduced in the House by John Moolenaar and Tom Suozzi and a companion bill in the Senate by Jim Banks, Tom Cotton, and Josh Hawley. This move would increase tariffs on Chinese imports and strip China of certain trade benefits, citing economic losses and national security concerns. The bills hope to leverage Republican control of Congress...

In Maharashtra State, India, 12 people were killed and 11 injured when they were hit by a train after rumors of a fire caused panic among passengers disembarking from the Pushpak Express train. The victims, many of whom were migrant workers, were struck by the Karnataka Express while leaving the train in response to the false fire alarm. Authorities are investigating the incident to determine the cause, and the state government has promised financial assistance...

Indonesia's President Prabowo Subianto has directed the government to reduce spending by 306.7 trillion rupiah (US$18.8 billion) this year, equivalent to 8% of the total approved budget. The cuts, not requiring a budget revision, will be identified by ministries and agencies. Prabowo also aims to expand free meal recipients to 82.5 million, potentially increasing the budget deficit, which currently stands at 2.53% of GDP. Full Article

Indonesian Borneo's Central Kalimantan province is home to unlicensed small-scale gold mining supporting thousands of miners and creating significant environmental impacts. The Hampalit gold rush in the late 1980s drew 10,000 miners, transforming the landscape into a moonscape. Today, migrant miners continue to work in isolated shanties, using dongfen engines to extract gold with low recovery rates and risking safety in pursuit of meager profits. Full Article

France's CMA CGM has ordered twelve 18,000 teu LNG dual-fuel containerships from Korean shipyard HD Hyundai Heavy Industries for $2.58bn, set to be delivered by 2028. This move positions CMA CGM to potentially surpass Maersk as the world's second-largest containerline, amidst record-breaking containership orders last year and continued ordering activity in January, including newbuilds from China's Kawa Shipping and Germany's Elbdeich Reederei. Full Article