Bangladesh to hold elections in February 2026: Yunus
Bangladesh to hold elections in February 2026: Yunus/node/2610756/world
Bangladesh to hold elections in February 2026: Yunus
People watch Muhammad Yunus, leader of Bangladeshi interim government, as he appears on a screen while reading the July Declaration, during celebrations marking the one-year anniversary of student-led protests, outside the parliament building, in Dhaka, Bangladesh, August 5, 2025. (Reuters)
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Updated 8 sec ago
AFP
Bangladesh to hold elections in February 2026: Yunus
Yunus had earlier said elections would be held in April, but key political parties have been demanding he hold them earlier, and before Ramadan
Updated 8 sec ago
AFP
DHAKA: Bangladesh will hold elections in February 2026, interim leader Muhammad Yunus said Tuesday, the first polls since a mass uprising overthrew the government last year.
“On behalf of the interim government, I will write a letter to the Chief Election Commissioner requesting that the election be arranged before Ramadan in February 2026,” Yunus said in a broadcast on the one-year anniversary of the ousting of prime minister Sheikh Hasina.
Nobel Peace Prize winner Yunus, 85, is leading the caretaker government as its chief adviser until elections, and has said he will step down after the vote.
“We will step into the final and most important phase after delivering this speech to you, and that is the transfer of power to an elected government,” he said.
Yunus had earlier said elections would be held in April, but key political parties have been demanding he hold them earlier, and before the Islamic holy month of Ramadan in the Muslim-majority nation of 170 million people.
“I urge you all to pray for us so that we can hold a fair and smooth election, enabling all citizens to move forward successfully in building a ‘New Bangladesh’,” he added.
“On behalf of the government, we will extend all necessary support to ensure that the election is free, peaceful and celebratory in spirit.”
Frequent disasters expose climate risks to infrastructure in South Asia
Updated 8 sec ago
The flooding of the Bhotekoshi River on July 8 also killed nine people Another smaller flood in the area on July 30 damaged roads and structures
Katmandu: Floods that damaged hydropower dams in Nepal and destroyed the main bridge connecting the country to China show the vulnerability of infrastructure and need for smart rebuilding in a region bearing the brunt of a warming planet, experts say.
The flooding of the Bhotekoshi River on July 8 also killed nine people and damaged an inland container depot that was being built to support increasing trade between the two countries. The 10 damaged hydropower facilities, including three under construction, have a combined capacity that could power 600,000 South Asian homes.
Another smaller flood in the area on July 30 damaged roads and structures, but caused less overall destruction. Elsewhere in the Himalayas, flash floods swept away roads, homes and hotels on Tuesday in northern India, killing at least four people and leaving many others trapped under debris, officials said.
The Himalayan region, which crosses Nepal and several nearby countries including India, is especially vulnerable to heavy rains, floods and landslides because the area is warming up faster than the rest of the world due to human-caused climate change. Climate experts say the increasing frequency of extreme weather has changed the playbook for assessing infrastructure risks while also increasing the need for smart rebuilding plans.
“The statistics of the past no longer apply for the future,” said John Pomeroy, a hydrologist at the University of Saskatchewan in Canada. “The risk that goes into building a bridge or other infrastructure is generally based on historical observations of past risk, but this is no longer useful because future risk is different and often much higher.”
While damage estimates from the July floods in the Rasuwa region are still being calculated, past construction costs give a sense of the financial toll. The Sino-Nepal Friendship Bridge alone, for example, took $68 million to rebuild after it was destroyed by a 2015 earthquake that ravaged Nepal.
The latest disaster has also stoked fears of long-lasting economic damage in a region north of the capital city Katmandu that spent years rebuilding after the 2015 quake. Nepali government officials estimate that $724 million worth of trade with China is conducted over the bridge each year, and that has come to a standstill.
“Thank God there wasn’t much damage to local villages, but the container depot and bridges have been completely destroyed. This has severely affected workers, hotel operators, laborers, and truck drivers who rely on cross-border trade for their livelihoods,” said Kaami Tsering, a local government official, in a phone interview with The Associated Press.
Among those affected is Urken Tamang, a 50-year-old parking attendant at the depot who has been out of work for several weeks. A small tea shop he runs nearby with his family has also suffered.
“We’ve been unlucky,” said Tamang, a former farmer who sold his land and changed jobs when work on the depot began. He added: “The whole area was severely damaged by the 2015 earthquake, and just when life was slowly returning to normal, this devastating flood struck.”
Disasters show need for climate-resilient infrastructure
The Nepal floods are the latest in a series of disasters in South Asia during this year’s monsoon season. Research has shown that extreme weather has become more frequent in the region including heat waves, heavy rains and melting glaciers.
Climate experts said smart planning and rebuilding in climate-vulnerable regions must include accounting for multiple risks, installing early warning systems, preparing local communities for disasters and, when needed, relocating infrastructure.
“What we have to avoid is the insanity of rebuilding after a natural disaster in the same place where it occurred and where we know it will occur again at even higher probability,” said Pomeroy, the Canadian hydrologist. “That’s a very poor decision. Unfortunately, that’s what most countries do.”
Before rebuilding in Rasuwa, Nepal government officials need to assess overall risks, including those due to extreme weather and climate change, said Bipin Dulal, an analyst at Katmandu-based International Center for Integrated Mountain Development.
The bridge connecting the two countries was rebuilt to better withstand earthquakes after it was destroyed in 2015, but it appears that officials didn’t properly account for the risk of flooding as intense as what occurred in early July, Dulal said.
“We have to see what the extreme risk scenarios can be and we should rebuild in a way in which the infrastructure can handle those extremes,” said Dulal.
Dulal said that large building projects in South Asia typically undertake environmental impact assessments that don’t adequately factor in the risks of floods and other disasters. The center is developing a multi-hazard risk assessment framework that it hopes will be adopted by planners and builders in the region to better account for the dangers of extreme weather.
Resilient structures can save billions in the long run
In 2024 alone, there were 167 disasters in Asia — including storms, floods, heat waves and earthquakes — which was the most of any continent, according to the Emergency Events Database maintained by the University of Louvain, Belgium. These led to losses of over $32 billion, the researchers found.
“These disasters are all wake-up calls. These risks are real,” said Ramesh Subramaniam, global director of programs and strategy at the Coalition for Disaster Resilient Infrastructure.
A CDRI analysis found that $124 billion worth of Nepal’s infrastructure is vulnerable to the impacts of climate-driven disasters, creating the potential for hundreds of millions of dollars in annual losses if the country doesn’t invest in resiliency.
“Investing a relatively smaller figure now would prevent the loss of these enormous sums of damages,” said Subramaniam.
Subramaniam said that most climate investments are directed toward mitigation, such as building clean energy projects and trying to reduce the amount of planet-heating gases being released. But given extreme weather damage already occurring, investing in adapting to global warming is also equally important, he said.
“I think countries are learning and adaptation is becoming a standard feature in their annual planning,” he said.
Global efforts to prepare for and deal with such losses include a climate loss and damage fund set up by the United Nations in 2023. The fund currently has $348 million available, which the UN warns is only a fraction of the yearly need for economic damage related to human-caused climate change. The World Bank and Asian Development Bank have also provided loans or grants to build climate-resilient projects.
In Nepal’s recently flood-ravaged region, Tsering, the local government official, said the repeated disasters have taken more than a financial toll on residents.
“Even though the river has now returned to a normal flow, the fear remains,” he said. “People will always worry that something like this could happen again.”
Ukraine reopens its Danube canal after explosion, analyst says/node/2610750/world
Ukraine reopens its Danube canal after explosion, analyst says
Ukraine had been transporting grain on the Bystre and the Danube as an alternative route
The consultancy said in a statement that Ukraine would allow vessels with a draught of up to 4.5 meters to transit the canal
Updated 13 min 14 sec ago
Reuters
KYIV: Ukraine’s Seaport Authority will from Wednesday reopen the Bystre Canal at the mouth of the Danube, closed since a dredger exploded in late July, analyst ASAP Agri said on Tuesday.
Ukraine had been transporting grain on the Bystre and the Danube as an alternative route for its exports while access to its Black Sea ports was limited in the first year after Russia’s invasion in 2022. Since the ports were unblocked in 2023, Ukraine’s use of the Danube has declined sharply.
The consultancy said in a statement that Ukraine would allow vessels with a draught of up to 4.5 meters to transit the canal.
“The move is expected to reduce disbursement costs for shipowners and support negotiations on Danube-origin freight by narrowing the bid/offer spread,” said Pavel Lysenko, analyst at ASAP Agri.
The Seaport Authority declined to comment.
It said last month it had closed the Bystre after a dredger exploded on 23 July, without giving any explanation for the blast. Traffic was diverted through the Romanian Sulina channel.
ASAP Agri said the cost to shipowners of using Sulina was higher and many had raised their freight quotes for Danube shipments to offset losses.
“With Bystre back in service, market participants expect a partial recovery in Danube freight flows as negotiations become more balanced,” it said.
A man watches as Israeli excavators demolish a building in the village of Judeira, south of Ramallah in the occupied West Bank.
Updated 24 min 51 sec ago
Reuters
Norway to review sovereign wealth fund’s Israel investments
The fund’s investment in the Bet Shemesh Engines Ltd. (BSEL) group is worrying, Norwegian Prime Minister Jonas Gahr Stoere told public broadcaster NRK
Updated 24 min 51 sec ago
Reuters
OSLO: Norway’s government said on Tuesday it had ordered a review of its sovereign wealth fund portfolio to ensure that Israeli companies contributing to the occupation of the West Bank or the war in Gaza were excluded from investments.
The review followed a report by the Aftenposten daily that said the $1.9 trillion fund had built a stake in 2023-24 in an Israeli jet engine group that provides services to Israel’s armed forces, including the maintenance of fighter jets.
The fund’s investment in the Bet Shemesh Engines Ltd. (BSEL) group is worrying, Norwegian Prime Minister Jonas Gahr Stoere told public broadcaster NRK.
“We must get clarification on this because reading about it makes me uneasy,” Stoere said.
BSEL did not immediately respond to a request for comment.
Norges Bank Investment Management (NBIM), which manages the fund, took a 1.3 percent stake in BSEL in 2023 and raised this to 2.09 percent by the end of 2024, holding shares worth $15.2 million, the latest available NBIM records show.
In light of Aftenposten’s story and the security situation in Gaza and the West Bank, the central bank will now conduct a review of NBIM’s Israeli holdings, Finance Minister Jens Stoltenberg said on Tuesday.
NBIM CEO Nicolai Tangen told NRK that BSEL had not appeared on any lists of recommended exclusions, such as by the United Nations or the fund’s own ethics council.
Norway’s parliament in June rejected a proposal for the sovereign wealth fund to divest from all companies with activities in the occupied Palestinian territories.
The fund, which owns stakes in 8,700 companies worldwide, held shares in 65 Israeli companies at the end of 2024, valued at $1.95 billion, its records show.
Norway’s sovereign wealth fund, the world’s largest, has sold its stakes in an Israeli energy company and a telecoms group in the last year, and its ethics council has said it is reviewing whether to recommend divesting holdings in five banks.
Swiss president rushes to US to avert steep tariffs
“The aim is to present a more attractive offer to the United States in a bid to lower the level of reciprocal tariffs,” said the government
US President Donald Trump had originally threatened in April to slap a 31-percent tariff
Updated 31 min 15 sec ago
AFP
ZURICH: Switzerland’s president and economy minister were due to fly to Washington on Tuesday in a last-minute push to stop steep new tariffs that have blindsided the Alpine country.
Switzerland faces a 39-percent duty, one of the highest among the dozens of economies that will be hit by new tariffs expected to come into force from Thursday.
President Karin Keller-Sutter and Economy Minister Guy Parmelin were heading to Washington “to facilitate meetings with the US authorities at short notice and hold talks with a view to improving the tariff situation for Switzerland,” the government said in a statement.
“The aim is to present a more attractive offer to the United States in a bid to lower the level of reciprocal tariffs for Swiss exports, taking US concerns into account.”
US President Donald Trump had originally threatened in April to slap a 31-percent tariff on Switzerland.
But he surprised the export-driven country last week when he decided to hike the rate to 39 percent despite numerous discussions between Swiss and US officials aimed at reaching a deal.
The Swiss government noted that the country will be hit by much higher tariffs than what other wealthy economies, such as Britain, Japan or the European Union, are facing.
The Swiss government held an emergency meeting on Monday.
During the extraordinary meeting, the government “reaffirmed that it was keen to pursue talks with the United States on the tariff situation,” Tuesday’s statement said.
“For this reason,” the president and the economy minister “are to travel to Washington on Tuesday.”
US Trade Representative Jamieson Greer, however, indicated on Sunday that the tariffs on global trading partners which are coming into force this week were unlikely to change.
“These tariff rates are pretty much set,” Greer told CBS television’s Face the Nation program.
Keller-Sutter, who is also the country’s finance minister, and Parmelin, who is also the vice president, will be accompanied by a small delegation, including the heads of the economy and international finance departments.
The government said it will “issue a statement as soon as there are any relevant developments for the public.”
Swiss companies have urged the government to negotiate a lower tariff.
The United States is a key trading partner for Switzerland, taking 18.6 percent of its total exports last year, according to Swiss customs data.
Keller-Sutter has said Trump believes that Switzerland “steals” from the United States by enjoying a trade surplus of 40 billion Swiss francs ($50 billion).
Pharmaceuticals represented 60 percent of Swiss goods exports to the United States last year, followed by machinery and metalworking at 20 percent and watches at eight percent.
The chocolate industry has also warned that the tariffs were a “tough blow.”
India, Philippines upgrade ties to strategic partnership on Marcos’ Delhi visit
Manila, Delhi also agree to establish information sharing mechanisms, training exchanges between militaries
With bilateral trade valued at more than $3bn, both countries agree to work toward preferential trade pact
Updated 05 August 2025
Sanjay Kumar/Ellie Aben
New Delhi/Manila: India and the Philippines elevated their ties to a strategic partnership on Tuesday during President Ferdinand Marcos Jr.’s visit to New Delhi, as the two countries also move to boost trade and defense engagements.
Marcos is on a five-day visit to India, where he was accorded full ceremonial honors involving a military parade and formal reception before he met with Prime Minister Narendra Modi.
The two leaders jointly declared the strategic partnership and agreed to boost cooperation across various areas, including culture, tourism and space.
“India and the Philippines are friends by choice, and partners by destiny. From the Indian Ocean to the Pacific, we are united by shared values. Ours is not just a friendship of the past, it is a promise to the future,” Modi said in a joint press statement.
After their navies sailed together for the first time in the South China Sea on Monday, the two countries also agreed on Tuesday to bolster defense collaboration.
“Strengthening defense relations (is) a symbol of deep mutual trust. As maritime nations, maritime cooperation between the two countries is both natural and necessary,” Modi said.
India and the Philippines have agreed to establish mechanisms for enhanced maritime cooperation between the Indian and Philippine coast guards and for talks between their militaries.
“We will foster naval and coastguard interoperability via port calls in cooperative activities and capacity building in the maritime domain,” Marcos said.
With bilateral trade currently valued at more than $3 billion, Delhi and Manila will start working toward a preferential trade agreement to further strengthen commerce ties, both leaders said.
For India, deepening its relations with the Philippines is “an important step in expanding its presence in East Asia,” said Manoj Kewalramani, a fellow in China studies and chairperson of the Indo-Pacific Studies Programme at the Takshashila Institution.
“The elevation of the relationship to a strategic partnership underscores the growing political proximity between the two nations and the alignment of broader interests,” he told Arab News.
Strengthening India-Philippines defense relations is a strategic move for New Delhi to support its interest in the South China Sea region.
“From a strategic perspective, I think it is important for India to work with like-minded countries on shared security concerns and shaping the strategic environment around China’s periphery,” Manoj said.
“It is also worth remembering that the South China Sea is a critical route for a substantial amount of Indian merchandise trade. So India has significant interests in the region.”
Tensions have continued to run high between the Philippines and China over territorial disputes in the South China Sea, a strategic waterway through which billions of dollars of goods pass each year.
Manila and Beijing have been involved in frequent maritime confrontations in recent years, with China maintaining its expansive claims to the area, despite a 2016 international tribunal ruling that its historical assertion had no basis.
Upgrading India-Philippines ties to a strategic partnership is indicative of “the trust that Manila has put in place on India as an important factor in its security calculations,” said Don McLain Gill, a geopolitical analyst and international studies lecturer at De La Salle University in Manila.
“Similarly, India being part of the strategic partnership illustrates its willingness to play a more active role … as an alternative security partner and provider, along with a capacity builder,” Gill told Arab News.
He expects India to tailor its defense cooperation with the Philippines based on what Manila needs, adding that there are also possibilities for joint production.
“It indicates that the sky is the limit for what both countries can achieve in the realm of defense and security cooperation, but also other strategic areas such as infrastructure and critical minerals,” he said.
“Elevating strategic partnerships isn’t something that the Philippines just freely tosses around. It is earned, and the Philippines, I believe, recognizes the importance of forging closer ties with India and deepening them based on emerging realities and threats and challenges.”