China's defence minister Li Shangfu is set to visit Russia and Belarus this week. The announcement comes amidst Li's refusal to hold meetings with his US counterparts until sanctions imposed on him by Washington are lifted. Li said he hoped both China and Russia could strengthen communication at all levels.

Chinese defence minister to visit Russia

<p>In a significant outcome of Prime Minister Narendra Modi's visit to Egypt in July, EgyptAir has launched a direct flight connecting the Egyptian capital&nbsp;Cairo&nbsp;with India's national&nbsp;capital New&nbsp;Delhi. The move comes as both nations focus on increasing connectivity and strengthening ties.</p>

<p>Speaking to WION, Egyptian Ambassador to India, Wael Hamed, emphasised the importance of the new flight route, stating, "The Honourable PM was in Cairo just little bit over six weeks ago, and a strategic agreement was signed between India and Egypt... and people-to-people contact is very important; therefore, the opening of this flight between Cairo and New Delhi is extremely important and brings substance to the agreement we signed."</p>

<p><strong>ALSO READ |</strong>&nbsp;<a href="https://www.wionews.com/world/amid-brutal-heatwave-egyptian-pm-announces-planned-power-cuts-other-measures-620065">Amid brutal heatwave, Egyptian PM announces planned power cuts, other measures</a></p>

<p>Ambassador Hamed also extended a warm invitation to Indian tourists to visit Egypt, highlighting the unique aspects the country has to offer. "Egypt is one of the most beautiful countries, not only is it beautiful but also offers something that no other country can offer in the world. We offer Ancient Egyptian civilisation, which is unique in the world. It is the biggest open museum in the world, so please do come and visit Egypt, and you will enjoy it," he added.</p>

<p>The newly launched Cairo-Delhi route will be served by EgyptAir's newly acquired A320Neo aircraft, offering a two-cabin service with 16 seats in business class and 126 seats in economy class. The flight will operate four times a week, departing from Cairo on Thursdays and Saturdays and departing from Delhi on Fridays and Sundays.</p>

<p><strong>WATCH |&nbsp;'Relations between India and Egypt getting diversified', says Aly Houssam in a discussion with WION</strong></p>

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<p>EgyptAir's Chairman and CEO, Capt. Mohamed Moussa expressed his excitement about the new route and its potential to strengthen ties between Egypt and India. He stated, "India indeed is an important nation and market focus. We are delighted to start flights from Cairo to Delhi, the second gateway apart from the existing operations to Mumbai. This will not only offer a new alternative for consumers for travel but further strengthen relations between Egypt and India and stimulate tourism, travel, and business between the two countries."</p>

<p>Amr Ali, EgyptAir's country manager for North and Eastern India, also expressed his enthusiasm for the new responsibility. "I am fortunate that our management has entrusted me with the responsibility to start and make the Cairo-Delhi route successful. India is the world's fastest-growing economy with enormous potential for travel and tourism. My endeavour will be to work along with travel trade partners in India," he said.</p>

<p>The expansion of EgyptAir's network and the opening of new routes, including the Cairo-Delhi flight, align with the directives of the Ministry of Civil Aviation to connect Egypt with various countries around the world through Hub Cairo.</p>

<p>Recently, EgyptAir added Dhaka, New Jersey, and Manchester to its network, further strengthening its global presence and offering improved travel options for passengers.&nbsp;With the launch of this direct flight, both Egypt and India are set to witness an increase in travel, business, and cultural exchanges, fostering even stronger ties between the two nations.&nbsp;</p>

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In a significant outcome of Prime Minister Narendra Modi's visit to Egypt in July, EgyptAir has launched a direct flight connecting the Egyptian capital Cairo with India's national capital New Delhi.

In a significant outcome of Prime Minister Narendra Modi's visit to Egypt in July, EgyptAir has launched a direct flight connecting the Egyptian capital Cairo with India's national capital New Delhi. The move comes as both nations focus on increasing connectivity and strengthening ties. Speaking to WION, Egyptian Ambassador to India, Wael Hamed, emphasised the importance of the new flight route, stating, "The Honourable PM was in Cairo just little bit over six weeks ago, and a strategic agreement was signed between India and Egypt... and people-to-people contact is very important; therefore, the opening of this flight between Cairo and New Delhi is extremely important and brings substance to the agreement we signed." ALSO READ | Amid brutal heatwave, Egyptian PM announces planned power cuts, other measures Ambassador Hamed also extended a warm invitation to Indian tourists to visit Egypt, highlighting the unique aspects the country has to offer. "Egypt is one of the most beautiful countries, not only is it beautiful but also offers something that no other country can offer in the world. We offer Ancient Egyptian civilisation, which is unique in the world. It is the biggest open museum in the world, so please do come and visit Egypt, and you will enjoy it," he added. The newly launched Cairo-Delhi route will be served by EgyptAir's newly acquired A320Neo aircraft, offering a two-cabin service with 16 seats in business class and 126 seats in economy class. The flight will operate four times a week, departing from Cairo on Thursdays and Saturdays and departing from Delhi on Fridays and Sundays. WATCH | 'Relations between India and Egypt getting diversified', says Aly Houssam in a discussion with WION EgyptAir's Chairman and CEO, Capt. Mohamed Moussa expressed his excitement about the new route and its potential to strengthen ties between Egypt and India. He stated, "India indeed is an important nation and market focus. We are delighted to start flights from Cairo to Delhi, the second gateway apart from the existing operations to Mumbai. This will not only offer a new alternative for consumers for travel but further strengthen relations between Egypt and India and stimulate tourism, travel, and business between the two countries." Amr Ali, EgyptAir's country manager for North and Eastern India, also expressed his enthusiasm for the new responsibility. "I am fortunate that our management has entrusted me with the responsibility to start and make the Cairo-Delhi route successful. India is the world's fastest-growing economy with enormous potential for travel and tourism. My endeavour will be to work along with travel trade partners in India," he said. The expansion of EgyptAir's network and the opening of new routes, including the Cairo-Delhi flight, align with the directives of the Ministry of Civil Aviation to connect Egypt with various countries around the world through Hub Cairo. Recently, EgyptAir added Dhaka, New Jersey, and Manchester to its network, further strengthening its global presence and offering improved travel options for passengers. With the launch of this direct flight, both Egypt and India are set to witness an increase in travel, business, and cultural exchanges, fostering even stronger ties between the two nations. You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE

Direct Cairo-Delhi flight launched after PM Modi's Egypt visit

<p>In a high-profile summit held in Saint Petersburg, Russia, President Vladimir Putin and African leaders forged a strong alliance, vowing to advance a just and democratic multipolar world order.</p>

<p>This partnership also aims to combat neo-colonial practices, illegitimate sanctions, and preserve traditional moral values. Amid international scrutiny due to Russia's involvement in Ukraine, the summit showcased Africa's continued support for Russia, reported AFP.</p>

<h2><strong>Call for a balanced multipolar world order</strong></h2>

<p>President Putin lauded the summit's outcome, highlighting the shared commitment of the participating nations to establish a more balanced, just, and stable multipolar world order. With representatives from 49 countries, including 17 heads of state, the summit demonstrated the resolute desire to foster meaningful cooperation with Russia.</p>

<h2><strong>Resisting neo-colonialism and safeguarding heritage</strong></h2>

<p>Through a joint declaration, the leaders reaffirmed their determination to counter neo-colonialism and all forms of international confrontation within Africa. The declaration also echoed Russia's backing for African countries seeking compensation for the impact of colonial policies, including efforts to recover cultural artefacts looted during the colonial era.</p>

<p><strong>Also read |</strong>&nbsp;<a href="https://www.wionews.com/world/virgins-vitality-and-penile-implants-shocking-report-uncovers-wagner-chiefs-harem-of-young-girls-620321">Virgins, vitality and penile implants: Shocking report uncovers Wagner chief's harem of young girls</a></p>

<h2><strong>Russia's withdrawal from Ukrainian grain deal</strong></h2>

<p>Of particular significance, the summit occurred in the aftermath of Russia's decision to withdraw from a critical grain deal that previously protected Ukrainian grain exports. The suspension of the deal raised global concerns over food stability and potential shortages. However, President Putin reassured African nations of Russia's continued commitment to supplying grain crops, both through commercial agreements and as humanitarian aid.</p>

<h2><strong>Strengthening cooperation in key sectors</strong></h2>

<p>The summit's success extended beyond symbolic gestures, as the leaders agreed to enhance cooperation across vital sectors. Notably, they discussed mutual aid initiatives, energy partnerships, and trade collaborations. As a tangible step toward financial independence, they also pledged to increasingly employ their national currencies for commercial transactions, reducing reliance on foreign currencies.</p>

<p><strong>Also watch |&nbsp;Russia-Africa summit: Putin promises free grain to African nations</strong></p>

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<p>The Saint Petersburg summit culminated in a formidable alliance between Russia and African leaders, united in their pursuit of a multipolar world order and their resistance against neo-colonialism. The joint declaration's emphasis on compensating for historical injustices and preserving cultural heritage underscored the collective determination to correct past wrongs. As they strengthen collaboration in areas like trade and energy, this partnership ushers in a new chapter of strategic cooperation between Russia and Africa, reaffirming Africa's unwavering support amid global complexities.</p>

<p><em>(With inputs from agencies)</em></p>

<p>&nbsp;</p>

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In a high-profile summit held in Saint Petersburg, Russia, President Vladimir Putin and African leaders forged a strong alliance, vowing to advance a just and democratic multipolar world order.

In a high-profile summit held in Saint Petersburg, Russia, President Vladimir Putin and African leaders forged a strong alliance, vowing to advance a just and democratic multipolar world order. This partnership also aims to combat neo-colonial practices, illegitimate sanctions, and preserve traditional moral values. Amid international scrutiny due to Russia's involvement in Ukraine, the summit showcased Africa's continued support for Russia, reported AFP. Call for a balanced multipolar world order President Putin lauded the summit's outcome, highlighting the shared commitment of the participating nations to establish a more balanced, just, and stable multipolar world order. With representatives from 49 countries, including 17 heads of state, the summit demonstrated the resolute desire to foster meaningful cooperation with Russia. Resisting neo-colonialism and safeguarding heritage Through a joint declaration, the leaders reaffirmed their determination to counter neo-colonialism and all forms of international confrontation within Africa. The declaration also echoed Russia's backing for African countries seeking compensation for the impact of colonial policies, including efforts to recover cultural artefacts looted during the colonial era. Also read | Virgins, vitality and penile implants: Shocking report uncovers Wagner chief's harem of young girls Russia's withdrawal from Ukrainian grain deal Of particular significance, the summit occurred in the aftermath of Russia's decision to withdraw from a critical grain deal that previously protected Ukrainian grain exports. The suspension of the deal raised global concerns over food stability and potential shortages. However, President Putin reassured African nations of Russia's continued commitment to supplying grain crops, both through commercial agreements and as humanitarian aid. Strengthening cooperation in key sectors The summit's success extended beyond symbolic gestures, as the leaders agreed to enhance cooperation across vital sectors. Notably, they discussed mutual aid initiatives, energy partnerships, and trade collaborations. As a tangible step toward financial independence, they also pledged to increasingly employ their national currencies for commercial transactions, reducing reliance on foreign currencies. Also watch | Russia-Africa summit: Putin promises free grain to African nations The Saint Petersburg summit culminated in a formidable alliance between Russia and African leaders, united in their pursuit of a multipolar world order and their resistance against neo-colonialism. The joint declaration's emphasis on compensating for historical injustices and preserving cultural heritage underscored the collective determination to correct past wrongs. As they strengthen collaboration in areas like trade and energy, this partnership ushers in a new chapter of strategic cooperation between Russia and Africa, reaffirming Africa's unwavering support amid global complexities. (With inputs from agencies) WATCH WION LIVE HERE:

Russia and African leaders forge alliance to promote multipolar order: Putin

Pope Francis is scheduled to visit Portugal the next week. His trip coincides with World Youth Day, which is eagerly anticipated by young Catholics. However, a big sex scandal rocking the Portuguese Church casts a cloud over Pope Francis' visit. Pope Francis will travel to Portugal from August 5 to August 10 for his 42nd worldwide trip. His main objective is to uplift and enthuse a new generation of young Catholics, but until he addresses the troubling history of Portugal's Catholic church, this will be very challenging.

Pope Francis to visit Portugal from 5th to 10th of August

Sri Lankan president is on a two-day visit to India, his first visit to the country since assuming office in July last year. The visit comes at a time when the two countries marked 75 years of their diplomatic relations. The visit by President Ranil Wickremesinghe is deemed important for trade relations between New Delhi and Colombo. In a major boost for India, Sri Lanka has already notified the rupee as a foreign currency. Agreements in power, energy, agriculture and Maritime issue are also on the cards. In a few hours from now Sri Lankan President will meet the Indian Prime Minister.

Sri Lankan President Ranil Wickremesinghe on a two-day India visit

The Sri Lankan President is scheduled to arrive in India. Leading up to his visit President Ranil Wickremesinghe made a sharp comment concerning his presidency and his surname. According to the reports, Ranil met with leaders from Tamil political parties on Wednesday. The meeting revolved around solving issues concerning Sri Lankan Tamils including more autonomy to certain provinces in the country.

Sri Lankan President Ranil Wickremesinghe will visit India for the first time

For the great celebrations, Champs-Élysées was decorated in the French flag's colours of red, blue, and white. PM Modi, who is on a two-day visit to France, was conferred with the highest honour of France, the 'Grand Cross of the Legion of Honour', by French President Emmanuel Macron, on Thursday, July 13. This is the 14th state honour for PM Modi.

PM Modi in France: Equality, fraternity and equality is in our ethos

After concluding his two-day visit to France Indian Prime Minister Narendra Modi has now arrived in the UAE as a part of his extensive diplomatic tour. The agenda of the day-long visit is expected to be energy, food, security and defence.

PM Modi in UAE: Burj Khalifa lights up in Indian colours, welcomes PM Modi

Indian PM Modi concludes 'productive' visit, thanks UAE president for 'warm hospitality' "Concluding a productive UAE visit. Our nations are working together on so many issues aimed at making our planet better. I thank HH Sheikh Mohamed bin Zayed Al Nahyan for the warm hospitality," said the Indian PM.

Modi in UAE: Indian PM concludes one-day visit to Abu Dhabi, heads back to Delhi

<p>During his official visit to France, Indian Prime Minister Narendra Modi showcased the rich cultural heritage of India through a series of thoughtful and symbolic gifts presented to French dignitaries. These gifts not only celebrated the craftsmanship and artistic traditions of India but also aimed to strengthen the bonds of friendship and mutual understanding between the two nations.</p>

<h2><strong>Sandalwood sitar for Macron</strong></h2>

<p>As a gesture of cultural exchange, Prime Minister Modi gifted a unique Sandalwood Sitar to president Macron. This intricately crafted replica of the musical instrument is made from pure sandalwood, showcasing the exquisite art of sandalwood carving that has been practiced in Southern India for centuries. The Sitar also represents the harmony and melodic traditions deeply rooted in Indian culture.</p>

<h2><strong>Sandalwood hand carved elephant Ambavari for President of the French Senate</strong></h2>

<p>To honour Gerard Larcher, President of the French Senate, Prime Minister Modi presented a 'Sandalwood Hand Carved Elephant Ambavari'.</p>

<p>Also Read | <a href="https://www.wionews.com/india-news/pm-modi-meets-prominent-individuals-in-paris-hold-discussions-on-yoga-science-skill-development-and-more-615736">PM Modi meets prominent individuals in Paris; hold discussions on yoga, science, skill development, and more</a></p>

<p>This decorative elephant figure, made entirely of pure sandalwood, embodies the grace and majesty of these magnificent creatures.</p>

<p>In Indian culture, elephants symbolise wisdom, strength, and good fortune, serving as a reminder of the profound connection between nature, culture, and art.</p>
<img alt="Elephant" data-align="center" data-entity-type="file" data-entity-uuid="7dfef572-3484-4e4f-b3f0-6f3d37dadfec" src="//cdn.wionews.com/sites/default/files/inline-images/Sandalwood%20elephant.png" />
<h2><strong>Hand-knitted silk Kashmiri carpet for President of the French National Assembly</strong></h2>

<p>As a token of friendship between the two nations, Prime Minister Modi gifted a hand-knitted Silk Kashmiri Carpet to Yael Braun-Pivet, President of the French National Assembly.</p>

<p>Also Read | <a href="https://www.wionews.com/world/modi-in-france-india-flags-cross-border-terrorism-repeats-call-for-dialogue-to-end-ukraine-war-615740">Modi in France: India flags cross-border terrorism, repeats call for dialogue to end Ukraine war</a></p>

<p>These silk carpets, renowned for their exceptional softness and craftsmanship, hail from the region of Kashmir in India. The intricate knotted details and vibrant colors of the carpet exemplify the unique beauty of this carpet.</p>
<img alt="Carpet" data-align="center" data-entity-type="file" data-entity-uuid="f252d403-d4df-4ba4-bffc-85a5bfe7f7a5" src="//cdn.wionews.com/sites/default/files/inline-images/Carpet.png" />
<h2><strong>Marble inlay work table for Prime Minister of France</strong></h2>

<p>Elisabeth Borne, the French prime minister, received a 'Marble Inlay Work Table' from Prime Minister Modi.</p>

<p>Marble Inlay Work is a captivating art form that involves the use of semi-precious stones to create intricate designs on marble.</p>

<p>Watch | Ukraine continues to demand more weapons and NATO membership</p>

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<p>The base marble is sourced from Makrana, a town in Rajasthan known for its high-quality marble, while the semi-precious stones are carefully procured from various parts of India.</p>

<p>This gift reflects the exquisite craftsmanship and attention to detail found in Indian artistry.</p>

<p><img alt="Work Table " data-entity-type="file" data-entity-uuid="ea4c625f-f3e2-4b80-b07f-6e6b3272e2ad" src="//cdn.wionews.com/sites/default/files/inline-images/Work%20Table.png" /></p>

<h2><strong>Pochampally Ikat in sandalwood box for France's First Lady Brigitte Macron</strong></h2>

<p>To honor France's First Lady Brigitte Macron, Prime Minister Modi presented a Pochampally Ikat saree beautifully displayed in a sandalwood box.</p>
<img alt="Saree" data-align="center" data-entity-type="file" data-entity-uuid="2f324e48-242b-4a6f-880a-08c8be052c49" src="//cdn.wionews.com/sites/default/files/inline-images/Box_0.png" />
<p>Pochampally silk ikat, originating from the town of Pochampally in Telangana, India, is renowned for its intricate designs and vibrant colors. This traditional Indian textile represents the rich heritage of Indian craftsmanship and serves as a symbol of the enduring cultural ties between India and France.</p>

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During his official visit to France, Indian Prime Minister Narendra Modi showcased the rich cultural heritage of India through a series of thoughtful and symbolic gifts presented to French dignitaries.

During his official visit to France, Indian Prime Minister Narendra Modi showcased the rich cultural heritage of India through a series of thoughtful and symbolic gifts presented to French dignitaries. These gifts not only celebrated the craftsmanship and artistic traditions of India but also aimed to strengthen the bonds of friendship and mutual understanding between the two nations. Sandalwood sitar for Macron As a gesture of cultural exchange, Prime Minister Modi gifted a unique Sandalwood Sitar to president Macron. This intricately crafted replica of the musical instrument is made from pure sandalwood, showcasing the exquisite art of sandalwood carving that has been practiced in Southern India for centuries. The Sitar also represents the harmony and melodic traditions deeply rooted in Indian culture. Sandalwood hand carved elephant Ambavari for President of the French Senate To honour Gerard Larcher, President of the French Senate, Prime Minister Modi presented a 'Sandalwood Hand Carved Elephant Ambavari'. Also Read | PM Modi meets prominent individuals in Paris; hold discussions on yoga, science, skill development, and more This decorative elephant figure, made entirely of pure sandalwood, embodies the grace and majesty of these magnificent creatures. In Indian culture, elephants symbolise wisdom, strength, and good fortune, serving as a reminder of the profound connection between nature, culture, and art. Hand-knitted silk Kashmiri carpet for President of the French National Assembly As a token of friendship between the two nations, Prime Minister Modi gifted a hand-knitted Silk Kashmiri Carpet to Yael Braun-Pivet, President of the French National Assembly. Also Read | Modi in France: India flags cross-border terrorism, repeats call for dialogue to end Ukraine war These silk carpets, renowned for their exceptional softness and craftsmanship, hail from the region of Kashmir in India. The intricate knotted details and vibrant colors of the carpet exemplify the unique beauty of this carpet. Marble inlay work table for Prime Minister of France Elisabeth Borne, the French prime minister, received a 'Marble Inlay Work Table' from Prime Minister Modi. Marble Inlay Work is a captivating art form that involves the use of semi-precious stones to create intricate designs on marble. Watch | Ukraine continues to demand more weapons and NATO membership × The base marble is sourced from Makrana, a town in Rajasthan known for its high-quality marble, while the semi-precious stones are carefully procured from various parts of India. This gift reflects the exquisite craftsmanship and attention to detail found in Indian artistry. Pochampally Ikat in sandalwood box for France's First Lady Brigitte Macron To honor France's First Lady Brigitte Macron, Prime Minister Modi presented a Pochampally Ikat saree beautifully displayed in a sandalwood box. Pochampally silk ikat, originating from the town of Pochampally in Telangana, India, is renowned for its intricate designs and vibrant colors. This traditional Indian textile represents the rich heritage of Indian craftsmanship and serves as a symbol of the enduring cultural ties between India and France. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. ×

PM Modi gifts exquisite sandalwood sitar to French President Emmanuel Macron

Indian PM Narendra Modi has thanked French President Emmanuel Macron and First Lady Brigitte Macron for hosting a private dinner for him at the Elysee Palace in France. The Prime Minister was accorded a red-carpet welcome as he arrived in Paris on a two-day visit on Thursday.

Indian PM thanks French President Macron for hosting him at Elysee Palace | In-depth Analysis

King Charles III will have tea with US Vice President Joe Biden and receive an update on the climate negotiations. On Sunday evening, US Vice President Joe Biden flew into London and is now at Windsor Castle where he will see the King.

Biden in UK: US President Joe Biden and King Charles to discuss climate issues

Prior to the NATO summit in the capital of Lithuania, US President Joe Biden will make a quick trip to the UK, where he will meet with King Charles III and UK Prime Minister Rishi Sunak. According to the White House, the visit aims to further strengthen relations between the two countries.

US Prez Biden and UK PM Sunak to visit Vilnius for NATO Summit post meeting

<p>Indian Foreign Secretary Vinay Mohan Kwatra is set to travel to Sri Lanka in the coming week to make arrangements for President Ranil Wickremesinghe's visit to New Delhi on July 20, as reported by the Daily Mirror.</p>

<p>This visit will mark President Wickremesinghe's first official trip to India since assuming office last year. Notable individuals accompanying the president on the visit include Fisheries Minister Douglas Devananda, Power and Energy Minister Kanchana Wijesekera, Foreign Affairs Minister Ali Sabry, and Chief of President's Staff Sagala Ratnayake.</p>

<p>During the visit, President Wickremesinghe is expected to engage in bilateral discussions with Indian Prime Minister Narendra Modi.</p>

<p>Sri Lanka's political situation remains uncertain, as President Wickremesinghe has yet to call for a general election and honour the mandate given to Gotabaya Rajapaksa until November 2024. Meanwhile, the country's economic situation likely needs some more time for improvement, especially with the upcoming release of the second tranche of a USD 2.9 billion loan package from the IMF at the end of this year, reported the Hindustan Times.&nbsp;</p>

<h2><strong>Net debtor status and external liabilities</strong></h2>

<p>Sri Lanka continues to be a net debtor country with substantial external liabilities and depleted external assets.</p>

<p>According to an IMF report, the country's net external liabilities significantly increased from an average of 51 per cent of GDP during 2017-2018 to 74 per cent of GDP in the third quarter of 2022.</p>

<p>This rise was mainly due to a surge in gross external liabilities, which increased from 64 to 86 per cent of GDP, driven by high government borrowing and significant depreciation of the rupee, particularly in 2022.</p>

<p>Gross external assets declined from 15 per cent of GDP in 2019 to 11.7 per cent of GDP in 2022.</p>

<p>Foreign Direct Investment accounted for approximately 25 per cent of the external liabilities, while other investments such as debt portfolios and bank loans accounted for about 60 per cent.</p>

<p>The government holds the majority share of the total external debt liabilities, making up 70 per cent.</p>

<p><strong>Also read |&nbsp;</strong><a href="https://www.wionews.com/business-economy/chasing-growth-sri-lanka-unleashes-second-round-of-interest-rate-cuts-612536/amp">Chasing Growth: Sri Lanka unleashes second round of interest rate cuts</a></p>

<h2><strong>Debt owed to India, Japan, and China</strong></h2>

<p>During the political and economic crisis last year, India provided emergency aid to Sri Lanka, with a remaining outstanding balance of around USD 3 billion.</p>

<p><strong>Also watch |&nbsp;Netherlands set to return treasures looted from Sri Lanka &amp; Indonesia</strong></p>

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<p>Additionally, Sri Lanka owes significant amounts to Japan and China, particularly due to loans for infrastructure projects associated with the Rajapaksa administration, reported the Hindustan Times.</p>

<p>The terms of the agreements were changed in 2017 by Ranil Wickremesinghe, leading to the leasing of the Hambantota deep seaport to China for a duration of 99 years.</p>

<p>Furthermore, President Wickremesinghe is scheduled to travel to China in October to attend the Belt and Road Initiative and meet with President Xi Jinping.</p>

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Indian Foreign Secretary Vinay Mohan Kwatra is set to travel to Sri Lanka in the coming week to make arrangements for President Ranil Wickremesinghe's visit to New Delhi on July 20, as reported by the Daily Mirror.

Indian Foreign Secretary Vinay Mohan Kwatra is set to travel to Sri Lanka in the coming week to make arrangements for President Ranil Wickremesinghe's visit to New Delhi on July 20, as reported by the Daily Mirror. This visit will mark President Wickremesinghe's first official trip to India since assuming office last year. Notable individuals accompanying the president on the visit include Fisheries Minister Douglas Devananda, Power and Energy Minister Kanchana Wijesekera, Foreign Affairs Minister Ali Sabry, and Chief of President's Staff Sagala Ratnayake. During the visit, President Wickremesinghe is expected to engage in bilateral discussions with Indian Prime Minister Narendra Modi. Sri Lanka's political situation remains uncertain, as President Wickremesinghe has yet to call for a general election and honour the mandate given to Gotabaya Rajapaksa until November 2024. Meanwhile, the country's economic situation likely needs some more time for improvement, especially with the upcoming release of the second tranche of a USD 2.9 billion loan package from the IMF at the end of this year, reported the Hindustan Times. Net debtor status and external liabilities Sri Lanka continues to be a net debtor country with substantial external liabilities and depleted external assets. According to an IMF report, the country's net external liabilities significantly increased from an average of 51 per cent of GDP during 2017-2018 to 74 per cent of GDP in the third quarter of 2022. This rise was mainly due to a surge in gross external liabilities, which increased from 64 to 86 per cent of GDP, driven by high government borrowing and significant depreciation of the rupee, particularly in 2022. Gross external assets declined from 15 per cent of GDP in 2019 to 11.7 per cent of GDP in 2022. Foreign Direct Investment accounted for approximately 25 per cent of the external liabilities, while other investments such as debt portfolios and bank loans accounted for about 60 per cent. The government holds the majority share of the total external debt liabilities, making up 70 per cent. Also read | Chasing Growth: Sri Lanka unleashes second round of interest rate cuts Debt owed to India, Japan, and China During the political and economic crisis last year, India provided emergency aid to Sri Lanka, with a remaining outstanding balance of around USD 3 billion. Also watch | Netherlands set to return treasures looted from Sri Lanka & Indonesia Additionally, Sri Lanka owes significant amounts to Japan and China, particularly due to loans for infrastructure projects associated with the Rajapaksa administration, reported the Hindustan Times. The terms of the agreements were changed in 2017 by Ranil Wickremesinghe, leading to the leasing of the Hambantota deep seaport to China for a duration of 99 years. Furthermore, President Wickremesinghe is scheduled to travel to China in October to attend the Belt and Road Initiative and meet with President Xi Jinping. WATCH WION LIVE HERE:

Indian foreign secretary to visit Sri Lanka soon ahead of President Ranil Wickremesinghe's New Delhi trip

<p>A stir has been created by the co-founder of Alibaba Group and Chinese billionaire Jack Ma among observers with his sudden and unexpected visit to Pakistan, as reported by the Express Tribune newspaper.<br />
<br />
The visit of Jack Ma to Pakistan was confirmed to The Express Tribune by former chairman of the Board of Investment (BOI) Muhammad Azfar Ahsan, stating that the Chinese billionaire reached Lahore on June 29 and stayed there for 23 hours.</p>

<p><strong>ALSO READ |&nbsp;</strong><a href="https://www.wionews.com/business-economy/jack-ma-goes-in-huddle-with-execs-asks-them-to-focus-on-taobao-report-606627">Jack Ma goes into huddle with execs, asks them to focus on Taobao: Report</a></p>

<p>During his visit to Pakistan, Jack Ma did not have any interactions with government officials and the media. The billionaire stayed at a private location and departed on June 30 via a private jet. The private jet was owned by Jet Aviation and registered under the name VP-CMA.</p>

<h2><strong>Pakistan's good days ahead?</strong></h2>

<p>Although the purpose of Jack Ma's visit remains confidential at this point, there remains hope that this is likely yield positive outcomes for Pakistan in the days ahead, as stated by Ahsan, reported The Express Tribune.<br />
<br />
A delegation of seven businessmen, which consisted of five Chinese nationals, one Danish individual, and one US citizen, had accompanied Ma. The delegation came to Pakistan from Nepal on a chartered flight from the business aviation sector of Hong Kong.<br />
<br />
The social media platforms are filled with speculations about Ma and his team exploring business opportunities in the economically-embattled country, which included meetings with important businessmen and officials from various chambers of commerce and visits to trade centres. However, no officials have made a confirmation regarding any specific meetings or business deals.<br />
<br />
In a tweet, Ahsan clarified that the visit of Jack Ma was strictly for personal purposes. He said that, interestingly, even the Chinese embassy was not given details of Ma's visit and engagements in Pakistan.</p>

<p><strong>WATCH |&nbsp;Gravitas: Jack Ma spotted in Australia | How Xi Jinping destroyed Jack Ma</strong></p>

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<p>Speaking to the Express Tribune, P@SHA Chairman Zohaib Khan said, "Although it was a personal visit, it helped enhance Pakistan's reputation from a tourism standpoint."<br />
<br />
Khan added that the Pakistan government's authorities should have used the opportunity and arranged a meeting with Jack Ma to gain insights from the billionaire's seasoned experience in the IT world. He said that even one statement from Jack Ma regarding the IT sector of Pakistan would have made a significant impact.</p>

<p><em>(With inputs from agencies)</em></p>

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A stir has been created by the co-founder of Alibaba Group and Chinese billionaire Jack Ma among observers with his sudden and unexpected visit to Pakistan, as reported by the Express Tribune newspaper.

A stir has been created by the co-founder of Alibaba Group and Chinese billionaire Jack Ma among observers with his sudden and unexpected visit to Pakistan, as reported by the Express Tribune newspaper. The visit of Jack Ma to Pakistan was confirmed to The Express Tribune by former chairman of the Board of Investment (BOI) Muhammad Azfar Ahsan, stating that the Chinese billionaire reached Lahore on June 29 and stayed there for 23 hours. ALSO READ | Jack Ma goes into huddle with execs, asks them to focus on Taobao: Report During his visit to Pakistan, Jack Ma did not have any interactions with government officials and the media. The billionaire stayed at a private location and departed on June 30 via a private jet. The private jet was owned by Jet Aviation and registered under the name VP-CMA. Pakistan's good days ahead? Although the purpose of Jack Ma's visit remains confidential at this point, there remains hope that this is likely yield positive outcomes for Pakistan in the days ahead, as stated by Ahsan, reported The Express Tribune. A delegation of seven businessmen, which consisted of five Chinese nationals, one Danish individual, and one US citizen, had accompanied Ma. The delegation came to Pakistan from Nepal on a chartered flight from the business aviation sector of Hong Kong. The social media platforms are filled with speculations about Ma and his team exploring business opportunities in the economically-embattled country, which included meetings with important businessmen and officials from various chambers of commerce and visits to trade centres. However, no officials have made a confirmation regarding any specific meetings or business deals. In a tweet, Ahsan clarified that the visit of Jack Ma was strictly for personal purposes. He said that, interestingly, even the Chinese embassy was not given details of Ma's visit and engagements in Pakistan. WATCH | Gravitas: Jack Ma spotted in Australia | How Xi Jinping destroyed Jack Ma Speaking to the Express Tribune, P@SHA Chairman Zohaib Khan said, "Although it was a personal visit, it helped enhance Pakistan's reputation from a tourism standpoint." Khan added that the Pakistan government's authorities should have used the opportunity and arranged a meeting with Jack Ma to gain insights from the billionaire's seasoned experience in the IT world. He said that even one statement from Jack Ma regarding the IT sector of Pakistan would have made a significant impact. (With inputs from agencies) You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE

Chinese billionaire Jack Ma creates stir with sudden visit to Pakistan

Prime Minister Narendra Modi was on Sunday conferred with ‘Order of the Nile’ award, Egypt's highest state honour. Egyptian President Abdel Fattah al-Sisi conferred the PM with the coveted award ahead of their bilateral meeting. The Indian Prime Minister has finally finished his two-nation visit to the US and Egypt.

Indian PM Narendra Modi winds up state visit to Egypt, US

Prime Minister Narendra Modi was on Sunday conferred with ‘Order of the Nile’ award, Egypt's highest state honour. Egyptian President Abdel Fattah al-Sisi conferred the PM with the coveted award ahead of their bilateral meeting.

Packed schedule for Indian PM on final day of visit to Egypt

Indian PM Narendra Modi was hosted at a lunch by US vice president Kamala Harris and Secretary of State Antony Blinken. PM Modi interacted with CEOs and professionals. He concluded his inaugural US state visit with an address to the Indian diaspora at the Ronald Reagan Center in Washington DC.

PM Modi in US | PM Modi: India, US taking strong steps towards a better future

PM Modi in US | PM Modi: Potential of India-US relationship yet to be realised

PM Modi in US | PM Modi: India boosting infrastructure like never before

The USISPF event is being addressed by Prime Minister Modi at the Kennedy Centre in Washington. The cooperation between India and America, according to PM Modi, will only be advantageous to the citizens of both nations. Numerous significant actions have been performed in the previous three days to fortify this alliance.

PM Modi in US: Role of Indian Americans in strengthening India-US ties

PM Modi in US: Indian Prime Minister Narendra Modi addresses USISPF event

PM Modi in US: The final leg of Narendra Modi's US visit as a state guest

After the White House stretched out the red carpet for the Indian Prime Minister to sign agreements intended to counteract China's influence, the American president Joe Barden and the Indian Prime Minister Narendra Modi actually hailed a new era in the India-US relationship. The two nations have also announced agreements on cooperation in the fields of defence, vital minerals, and semiconductors.

WION-VOA Co-Production: Indian Prime Minister Narendra Modi's US state visit

After the White House threw out the red carpet for the Indian prime minister on Thursday, citing agreements on defence and commerce geared at limiting China's influence globally, U.S. President Joe Biden and Narendra Modi heralded a new era in their nations' relations. "Two great countries, two excellent allies, and two formidable powers. At a state banquet, Biden toasted Modi and said, "Cheers. You are mild spoken, but when it comes to action, you are quite forceful, Modi retorted.

PM Modi in US | PM Modi to Harris: You are an inspiration to women around the world

PM Modi in US: PM Modi raises a toast with Kamala Harris and Antony Blinken

PM Modi in US: Washington sees Delhi as a strategic counterweight to China

PM Modi in US: Day 3 of Indian PM Narendra Modi's maiden state visit to US

Rich McCormick was earlier interviewed by Siddhant Sibbal, principal diplomatic correspondent for WION. The representative discussed the future of US-China relations as well as the significance of US-India relations.

'China already has influence on Western hemisphere, Africa' says US Congressman McCormick

PM Modi in US | PM Modi: Friendship between India and US should be deeper

PM Modi in US: United States of America to ease visas for skilled Indian workers

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