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S. Jaishankar is one of India's most experienced diplomats. The Indian Express shows work he did in Sri Lanka during another crisis. He called the Indian High Commission in Sri Lanka when he learned about hospitals in Sri Lanka that had shortage of supplies and could not conduct surgeries for this reason. He asked that arrangements be made for these healthcare supplies.

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India's Foreign Minister S. Jaishankar visits the local subsidiary of Indian Oil Corporation in Colombo to get some idea of the fuel supply situation in Sri Lanka. Facing a shortage of foreign exchange reserves and payment due for its debt in 2022 Sri Lanka has cut imports, including oil imports. India has offered a $1 billion line of credit and other assistance to Sri Lanka. Sri Lanka is also getting financial help from the IMF.

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The Chief Economic Adviser to the Indian Government Mr. Anantha Nageswaran, makes these comments on the economy of India before the presentation of the new Budget for April 2023 to March 2024. The Economic Survey of India states that "India is prepared to grow at its potential once the one-off shocks of the Covid pandemic and of the supply chain recede." He sees the sweeping effects of the reforms across multiple dimensions taken from 2016 to 2022 having a lag effect and now making their impact. This means that potential growth can go up to 7 or 8% with macroeconomic improvement, fiscal improvement, infrastructure efforts, women's employment, and getting rid of LIC (License, Inspect and Compliance) across local, state and central levels. He says the central bank estimate of 6.8% retail inflation for 2022-2023 is outside its target range but yet not high enough to deter private consumption, and no low enough to weaken the inducement to invest. He says slower growth in the world including the US will bring two advantages for India- low oil prices and a better current account deficit situation.  ...

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Sunderland in the northeast of England voted 69% for Leave in the Brexit referendum. It is one of the most deprived cities in the UK and after years of neglect by leaders and political elites it voted Leave to express its resentment of its treatment. Following the collapse of the shipbuilding industry the northeast of England has suffered from high unemployment with a third of the children living in poverty. Yet today there is a marked shift and cooling of the sentiment for Leave, as many of the promises made by the Leave campaign that more money would go to National Health Service, the economy would improve, and contributions to the EU would be diverted to England, appear to be broken. About $445 million was sent to the northeast of England from 2014 and helped the local economy. Benefit cuts, and austerity measures were continued by the May government in the northeast causing people to have doubts about the Brexit Leave campaign's promises. The EU's requirement that people of EU origin could work in the UK had riled residents in the northestern England deprived areas. Now a more realistic assessment of withdrawing from the EU is now taking place. About 60% of the exports of the northeast of England go to the European Union. The effect of this will be felt in this part of England and the costs of Leave are finally sinking in  for Sunderland residents. A Nissan factory in the area is a major employer and the government has stepped in to protect jobs. ...

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China's loans and projects in Latin America and the unwinding of projects in 2026. China had shifted policy to collecting back $10 billion of loans to Venezuela in meetings of its envoy with Maduro the day the US acted to remove Maduro, says this report in WSJ. China is shifting to reduce losses in the region from loans. Over last 2 decades China has loaned Venezuela $100 billion in exchange for oil shipments. As its oil industry production declined without US assistance Venezuela went deeper in debt. This is another aspect of the problems that this type of model of development brings to finance building of rail and transport, seen across the world from Venezuela down to small countries like Sri Lanka and Zambia. For China this could amount to hundreds of billions of dollars in loans that lack transparency and are opaque to Africa and Latin America, when its construction industry debt and local government debt has led to problems. Other solutions and alternatives are needed.   ...

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India and the race in Himalayas road buildup on both sides with China and India responding to each other's efforts on ground that is 11,000 to 14,000 feet high. In the latest buildup India in 2026-2028 is building the Zojila Tunnel in Ladakh to cut travel to 20 minutes across mountainous terrain for supplies to frontier outposts in some of the most forbidding terrain on earth. Much of this region of Ladakh and Kashmir is tens of thousands of miles from Shanghai and Beijing, Tibet is far far from China proper, yet the experience of the Sino-Japanese war in the 1930's and the attempted colonization of China by Japan is alive in the minds of the PRC's leaders, see Tibet as a buffer region. Who see India not as as the land of Gandhi and the Buddha Land that has remained that way since the year 1000, see instead a legacy regime of the British Empire of the 1800's that attempted partial colonization of China.

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A magistate's court in Hong Kong orders Joshua Wong, who led the protests for democracy in Hong Kong, to do 80 hours of community service work for unlawfully entering a fenced area outside Hong Kong's government headquarters on Sept. 26, 2014. Another activist Nathan Law was ordered to do 120 hours of community service. Wong and Law have formed a new party called Demosisto. Law plans to run in the legislative election on Sept 4, 2016. The first pro independence rallies happened in Hong Kong in early August. Wong says he is pushing for self-determination after the "one country, two systems" framework operating since 1997 expires in 2047.

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U.S. Federal Reserve vice chairman, Janet Yellen and Laurence Meyer, a former Fed governor call for consideration of downside risks emerging from the eurozone crisis and from the approaching fiscal cliff of government spending cuts, as the Fed debates policies in July 2012.

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Elvira Nabiullina, 49 years old, former economy minister, works closely with Russian president Putin, and helped setup Russia's entry into the World Trade Organization. Nabiullina will now head the Bank of Russia, Russia's central bank, and is expected to continue anti-inflation policies at the central bank with efforts to preserve the value of the ruble. The transition happens at a time when the Russian central bank's authority has been enlarged to include regulation of financial markets. Russia's economc growth has slowed from 4.3% in 2011 to 3.4% in 2012. The government target is for 5% growth.

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Thornton Oglove, author of Quality of Earnings: The Investor's Guide to How Much Money a Company is Really Making. Herb Greenberg taks to Oglove about the current situation and what he think about what is happening and how this will turn out and what this means for investors.

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The ruling National Action Party in Mexico nominated Josefina Vazquez Mota, an economist and a former education secretary, as its nominee in the presidential election. Ms. Mota is likely to appeal to female voters in Mexico and is presented as a soothing maternal figure during a period when Mexicans have faced a grueling war against drug gangs, and someone who is quite different from the PRI candidate, Mr Enrique Pena Nieto. When asked a question about the price of tortillas for ordinary families, Nieto once replied "I am not a lady of the house."