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SE Asian Ministers Discuss Myanmar Crisis, Without Any Myanmar Representative

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SE Asian ministers discuss Myanmar crisis, without any Myanmar representative By Reuters

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World 12 minutes ago (Oct 26, 2022 10:50PM ET)

(C) Reuters. FILE PHOTO: A woman passes ASEAN Summit flags at Suntec Convention Centre in Singapore, November 11, 2018. REUTERS/Edgar Su/File Photo

JAKARTA (Reuters) – Southeast Asian foreign ministers began meeting in Jakarta on Thursday to discuss how to kick-start a stalled peace process in military-ruled Myanmar, where dozens have been killed in recent weeks as violence escalated.

The meeting at the secretariat of the Association of Southeast Asian Nations (ASEAN) in the Indonesian capital will not be attended by any representatives from Myanmar.

Myanmar’s generals have been barred from high-level ASEAN meetings since last year, when the army ousted Nobel laureate Aung San Suu Kyi’s elected government, detaining her and thousands of activists and launching a deadly crackdown that has given rise to armed resistance movements.

Recent weeks have seen some of the bloodiest incidents in Myanmar, including the bombing of Myanmar’s largest prison and an air strike in Kachin State on Sunday, which local media said killed at least 50 people.

ASEAN chair Cambodia has said the talks aimed to come up with recommendations on how to push forward the peace process ahead of the bloc’s summit next month.

Myanmar had been invited to send a non-political representative to the meeting in Indonesia, but the junta did not agree, according to the host government.

ASEAN is leading the international peace effort but the junta has done little to honour its commitments in a peace plan agreed with the group last year.

The five-point “consensus” included an immediate halt to violence and starting dialogue towards a peace agreement, as well as allowing an envoy of the ASEAN chair to facilitate mediation and for ASEAN to provide humanitarian assistance.

A spokesperson for Myanmar’s military government did not answer a call seeking comment on Thursday but the head of the junta has previously blamed a lack of progress implementing the plan on instability in the country and the challenges of the pandemic.

A source with knowledge of the discussions said Indonesia is seeking to strengthen the five-point consensus so that it is clearer what is expected in each area and to provide a stronger mandate for the special envoy.

There was also interest among some ASEAN members to seek quiet negotiations with the junta, the source said.

An Indonesian foreign ministry spokesman said he was not aware of the contents of the discussions.

ASEAN has a longstanding policy of non-interference in members’ sovereign affairs, but some nations have called for the bloc to be bolder in taking action against the junta.

The top U.S. diplomat for East Asia, Daniel Kritenbrink, called on Wednesday the situation in Myanmar “tragic” and said finding away to deal with it was a “key priority” for Thursday’s meeting in Jakarta.

He said the United States, which has imposed sanctions on the military leadership, would take “additional steps to put pressure on the regime,” but did not elaborate.

SE Asian ministers discuss Myanmar crisis, without any Myanmar representative

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Sri Lanka Central Bank Holds Rates Steady, Says Mkt Interest Rates Must Fall

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Sri Lanka cenbank holds rates steady as expected amid slowing inflation By Reuters

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(C) Reuters. FILE PHOTO: People walk past the main entrance of the Sri Lanka’s Central Bank in Colombo, Sri Lanka March 24, 2017. REUTERS/Dinuka Liyanawatte

COLOMBO (Reuters) – Sri Lanka’s central bank held rates on Thursday, adding it expects a moderation in market interest rates in line with the prevailing policy interest rates.

The Standing Lending Facility rate was held steady at 15.50% while the Standing Deposit Facility Rate was kept unchanged at 14.50%.

“The Board was of the view that the prevailing tight monetary policy stance is necessary to rein in any underlying demand pressures in the economy,” the central banks said in a statement.

Sri Lanka cenbank holds rates steady as expected amid slowing inflation

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China’s Country Garden Gets New Credit Line of up to $7 Billion – Securities Times

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China’s Country Garden gets new credit line of up to $7 billion – Securities Times By Reuters

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(C) Reuters. FILE PHOTO: The logo of property developer Country Garden is seen on a building in Dalian, Liaoning province, China May 7, 2017. REUTERS/Stringer

HONG KONG (Reuters) – Major Chinese developer Country Garden has signed a contract with the Postal Savings Bank of China for a credit line of up to 50 billion yuan ($7.0 billion), Securities Times reported on Thursday.

The credit line will be used for loans for land development, mergers and acquisitions, and mortgage financing, it said. On Wednesday, three other commercial banks agreed to provide fundraising support to property developers, including industry giant Vanke, in a coordinated effort to support the country’s embattled property sector.

($1 = 7.1429 Chinese yuan renminbi)

China’s Country Garden gets new credit line of up to $7 billion – Securities Times

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Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

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North Korea Slams South Korea’s Yoon, Warns Sanctions Will Fuel More Hostility

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North Korea cautions sanctions and pressure will fuel more hostility By Reuters

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(C) Reuters. FILE PHHOTO: A North Korean flag flutters at the propaganda village of Gijungdong in North Korea, in this picture taken near the truce village of Panmunjom inside the demilitarized zone (DMZ) separating the two Koreas, South Korea, July 19, 2022. REUTE

By Soo-hyang Choi

SEOUL (Reuters) – North Korea on Thursday denounced Seoul’s push to impose additional sanctions on Pyongyang following its repeated missile launches, saying such measures will add to the North’s “hostility and anger,” state media KCNA reported.

North Korean leader Kim Jong Un’s powerful sister, Kim Yo Jong, made the remarks in a statement carried by KCNA, calling South Korean President Yoon Suk-yeol “and other idiots” a “faithful dog” of the United States.

South Korea’s foreign ministry said on Tuesday it was reviewing independent sanctions on Pyongyang. It said sanctions on the cyber sector were among those considered in case the North pushes ahead with a nuclear test.

North Korea has conducted an unprecedented number of ballistic missile launches this year. For months Washington has said North Korea could conduct a nuclear bomb test, the first since 2017, at any time.

“If they think that they can escape from the present dangerous situation through ‘sanctions,’ they must be really idiots as they do not know how to live in peace and comfort,” Kim Yo Jong said in the statement.

The United States has urged the United Nations Security Council to hold North Korea accountable for its missile tests in one voice, accusing China and Russia of “emboldening” Pyongyang by blocking Security Council action.

China and Russia backed tighter sanctions following Pyongyang’s last nuclear test in 2017, but in May both vetoed a U.S.-led push for more U.N. penalties over its renewed missile launches.

“We warn the impudent and stupid once again that the desperate sanctions and pressure of the U.S. and its South Korean stooges against the DPRK will add fuel to the latter’s hostility and anger,” Kim Yo Jong said, using the initials of the North’s official name.

North Korea cautions sanctions and pressure will fuel more hostility

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Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

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