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Hyderabad: The city has witnessed a staggering loss of over Rs 385 crore to various cybercrimes in 2024, with digital arrest and trading frauds topping the list. These figures reflect only the cases reported to the police or the National Cybercrime Portal, while many victims remain silent due to fears of reputational damage and social stigma. "A doctor friend of mine lost Rs 15 lakh in a digital arrest scam but was unwilling to report it. People are prioritising their prestige in society over the money lost in such frauds," said Hyderabad commissioner of police CV Anand during the annual roundup on Sunday. Anand highlighted the role of the banking system in facilitating cybercrimes, revealing that criminals often exploit banks to carry out fraudulent activities. "It's challenging for an average person to open a current account, but it's relatively easy for cybercriminals to do so without proper verification. Bank officials' complicity with these criminals is a major issue, and in 2025, we will focus on addressing their role," he said. "Additionally, the labour department is also issuing licenses easily to establishments as part of ease of doing business policy. We are working to fix it," he added. The city's overall crime rate surged by over 40% in 2024, from 25,488 cases in 2023 to 35,944 in 2024. "This increase is due to a policy of registering FIRs for even minor incidents like simple thefts or injuries and investigating them," Anand explained. While addressing the media, Anand praised the Hyderabad police force for their dedication and the smooth management of events, including the Lok Sabha election. He also acknowledged citizens for their cooperation, especially in voluntarily refraining from using DJs during religious processions. Hyderabad police are now exploring drone technology to enhance traffic management and law enforcement. "We plan to procure drones and establish a dedicated maintenance wing to deploy and manage them in the city," Anand announced. Operation ROPE, aimed at clearing road encroachments and reducing congestion, has shown positive results, with road accidents and fatalities decreasing. "Thanks to the traffic wing's efforts, road accidents and related deaths have significantly reduced," said Anand. In a ground breaking move, Hyderabad police have inducted 44 trans persons as home guards to assist with traffic duties. This initiative aims to promote social integration for the trans community. "This is a revolutionary step in providing them an opportunity to contribute to society," said Anand. He urged the newly inducted personnel to perform their duties with sincerity, emphasising that their roles could be expanded based on performance. Hyderabad police will soon begin dynamic drunk driving checks near bars and pubs to curb inebriated driving, with signs warning drivers. Drunk drivers are predominantly on two-wheelers (87%), followed by cars (10%) and auto rickshaws (5%), said additional CP (traffic) P Viswa Prasad. In addition to suspending licences for drunk driving, officials will also target those caught for signal jumping, triple riding, and wrong-side driving. Stay updated with the latest news on Times of India . Don't miss daily games like Crossword , Sudoku , and Mini Crossword .Massachusetts lawmakers share statements on Jimmy Carter's legacy: "A true public servant"

European stocks bounced around Monday while US equities shook off early weakness to push higher as investors waited to see if a so-called Santa Claus rally sweeps over the market. Global stock markets had a tumultuous time last week, spiraling lower after the US Federal Reserve signaled fewer interest rate cuts than had been expected for 2025. But it ended on a positive note as traders welcomed below-forecast US inflation data that raised hopes about the health of the world's biggest economy. That helped Asian markets move higher on Monday, but the positive trend faltered in Europe and stumbled initially in the United States. "Another up leg in US yields not only put pressure on stock indices but also drove the greenback higher," said IG analyst Axel Rudolph. But after a sluggish start, US stocks rose progressively in a quiet session with analysts pointing to low pre-holiday trading volumes. "Stocks didn't really have any direction in the morning, then we got this tech rally that just sort of drifted higher all day," said Steve Sosnick of Interactive Brokers. Analysts view elevated Treasury bond yields as a threat to year-end gains in an historically strong period of the calendar. Known as a Santa Claus rally, there are various explanations for the phenomenon including seasonal optimism and end-of-year tax considerations. But there remains some trepidation among investors as Donald Trump prepares to return to the White House, pledging to cut taxes, slash regulations and impose tariffs on imports, which some economists warn could reignite inflation. "The initial response to the US election was positive as investors focused on the obvious tailwinds to profitability: lower corporate tax rates and less regulation," said Ronald Temple, chief market strategist at Lazard. "However, I expect much more dispersion within the equity market when the reality of a much-less-friendly trade environment sets in." In Europe, the FTSE 100 moved higher as the pound slid following data that showed that the UK economy stagnated in the third quarter, revised down from initial estimates of 0.1 percent growth. Official data out of Spain on Monday showed that the Spanish economy grew 0.8 percent in the third quarter as domestic consumption and exports increased, comfortably outstripping the European Union average. In company news, shares in crisis-hit German auto giant Volkswagen lost more than three percent on the back of news Friday that it plans to axe 35,000 jobs by 2030 in a drastic cost-cutting plan. Shares in Japanese auto giant Honda rose over three percent after it announced Monday an agreement to launch merger talks with struggling compatriot Nissan that could create the world's third largest automaker. New York - Dow: UP 0.2 percent at 42,906.95 (close) New York - S&P 500: UP 0.7 percent at 5,974.89 (close) New York - Nasdaq Composite: UP 1.0 percent at 19,764.89 (close) London - FTSE 100: UP 0.2 percent at 8,102.72 (close) Paris - CAC 40: FLAT at 7,272.32 (close) Frankfurt - DAX: DOWN 0.2 percent at 19,848.77 (close) Tokyo - Nikkei 225: UP 1.2 percent at 39,161.34 (close) Hong Kong - Hang Seng Index: UP 0.8 percent at 19,883.13 (close) Shanghai - Composite: DOWN 0.5 percent at 3,351.26 (close) Euro/dollar: DOWN at $1.0408 from $1.0430 on Friday Pound/dollar: DOWN at $1.2531 from $1.2570 Dollar/yen: UP at 157.14 yen from 156.31 yen Euro/pound: UP at 83.03 pence from 82.97 pence West Texas Intermediate: DOWN 0.3 percent at $69.24 per barrel Brent North Sea Crude: DOWN 0.4 percent at $72.63 per barrel burs-jmb/jgcWork on property card pilot nears completion in Kharadi

America's wealthiest billionaires have witnessed an extraordinary year in 2024, with their fortunes far outpacing the 3% growth of the U.S. economy. What Happened: Surging markets, fueled by advancements in technology and artificial intelligence, have propelled their wealth to unprecedented levels. According to the report by The Daily Beast, these top 10 billionaires amassed gains nearly equivalent to the U.S. government's annual defense budget of $850 billion. 10. Michael Dell : $14 Billion The founder of Dell Technologies DELL saw a 55% surge in his company's stock this year, thanks to its transformation into an infrastructure powerhouse for the AI age. Dell owns approximately half of the company, contributing significantly to his fortune. 9. Larry Page and Sergey Brin : $19–20 Billion The Alphabet GOOGL founders benefited from the company's $650 billion valuation increase in 2024. Despite stepping back from operations, they retain control through super-voting shares, owning just over 3% each of the tech giant. 8. Steve Ballmer : $20 Billion The former Microsoft MSFT CEO continues to profit from the company's revival under Satya Nadella. Ballmer owns 4.5% of Microsoft, which has funded ventures such as a new stadium for the LA Clippers, the NBA team he owns. 7. Warren Buffett : $29 Billion Through Berkshire Hathaway BRK , Buffett continues to outperform the market. The company's value rose 28% this year, helping Buffett build his cash reserves to an impressive $325 million, or 30% of Berkshire's valuation. 6. Jeff Bezos : $63 Billion Bezos, the founder of Amazon AMZN , saw his wealth soar by over $1 billion weekly as Amazon stock rebounded. Bezos retains nearly 9% of the company, funding projects like Blue Origin through periodic stock sales. Also Read: From Steve Ballmer To Jamie Dimon, Meet The Billionaires Who Amassed Their Wealth Without Founding A Company 5. Jensen Huang : $72 Billion The founder of Nvidia NVDA reaped immense gains as the company became the darling of the AI revolution. Nvidia's value more than doubled in 2024, with Huang's 3.8% stake driving his fortune. 4. Larry Ellison : $73 Billion The Oracle founder's fortune grew alongside the company's role as a key player in cloud computing. Ellison owns 43% of Oracle, benefiting significantly from the AI-driven surge in enterprise demand. 3. Mark Zuckerberg : $82 Billion Zuckerberg's Meta META saw its value rise more than sixfold since late 2022, thanks to strong margins and AI developments like the Llama open-source model. His 13.5% stake in Meta underpins his staggering gains. 2. The Waltons : $148 Billion America's richest family, heirs to Walmart WMT , collectively control the fortune built by Sam Walton. Their wealth solidifies Walmart's status as one of the largest employers in the country. 1. Elon Musk : $252 Billion The Tesla TSLA and SpaceX founder tops the list with his fortune growing by nearly $5 billion weekly. Musk's ventures, including Neuralink, the Boring Company, and his federal government initiatives, further cement his status as the most influential figure in business. Read Next Billionaires’ Paradise: New York Tops The List Of 16 Cities Housing The World’s Richest This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Image: Shutterstock © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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They told the 21-year-old trainee physicist it would be helpful for her career if she could tell them “certain things” about students and staff at her Leipzig university institute. Mind whirling, she blurted out what her parents told her to say in such a situation. “I’m a communicative person,” she told the two men, “and I always have to tell other people what’s on my mind.” [ Angela Merkel saw Donald Trump as spellbound by autocratic leaders Opens in new window ] Merkel never heard from them again and her career as a Stasi informer ended before it even began. Anyone who completes her 688-page memoir, Freedom, though, will wish the young physicist had been telling the truth. Key to Merkel’s political longevity was keeping tight control over political and personal information. It is a habit the 70 year-old struggles to break in her book. Merkel had a remarkable 31-year political career of firsts: the first easterner in Helmut Kohl’s post-unification cabinet in 1990; in 2000, the first woman to lead the centre-right Christian Democratic Union (CDU); and, for 16 years from 2005, the first woman to serve as federal chancellor. The memoir opens with her idyllic childhood in East Germany, north of Berlin. Her Lutheran pastor father, Horst Kasner, had moved his family here from Hamburg, in the western zone, shortly after Merkel’s birth in July 1954. She describes a carefree rural childhood of blueberry-picking expeditions with her brother and sister – before the eventual intrusion of reality. When the Berlin Wall was built in August 1961 Merkel, then seven, remembers “everyone was in a state of pure shock, people were crying, my mother was in despair. She didn’t know when she would see her mother and sister in Hamburg again”. And what of her father? Known to his church colleagues as “Red Kasner”, Merkel says his “vocation” in the socialist German was shattered by the wall and the 1968 Prague Spring – when Soviet tanks crushed liberal Czechoslovak socialism. Just how much of a true believer he was until that point – and how this impacted his Christian values, home life and Merkel’s own politics – remain out of bounds to the reader, bar this: “He didn’t seem to be able to reconcile his theoretical considerations with his practical life.” [ Germany’s SPD has its Biden-Harris moment as Scholz’s popularity plummets Opens in new window ] Even more of a phantom is her first husband, Ulrich, whose surname she still carries. “It was a student romance,” she writes. Apart from saying he was good at DIY, she offers nothing on his appearance, how they met, why they married, why they divorced. It’s a curious omission but old habits die hard. And Merkel grew up in a socialist, atheist state, where being a pastor’s daughter was a minefield of personal caution and real-life discrimination. She remembers the vanished Germany as “petty, narrow-minded, tasteless, and... as humourless as it could possibly be”. “If you overstepped a political boundary,” she writes, “then the state knew no forgiveness and when it struck it was merciless.” Like most people she was a conformist who “tried to make the best of the situation... and to push myself to the limits of my capabilities wherever possible”. Her life has made good on those vows with her interest in politics began in December 1989, two months after the Berlin Wall fell. [ Conservative leader accuses Scholz of sowing division in Germany’s economy Opens in new window ] By a series of coincidences she became deputy press spokesperson for a small opposition party. Backing full unity rather than a reformed East, she ran for the Bundestag and found herself in 1990 sitting at Helmut Kohl’s cabinet table. Her first meeting with the so-called unity chancellor was “slightly strange” and their final encounters strained after she disowned him in public for his illegal party fundraising system. After snatching the party leadership she modernised the CDU, particularly on social policy, to claim the political centre. Even senior conservatives in her party backed her, she insists, one of whom told her: “It’s down to you to make our daughters vote CDU again, they won’t if it’s just us.” It’s an interesting shot across the bow of today’s more conservative CDU leader Friedrich Merz , an old Merkel rival, who is tempted to move away from her centrist legacy. She steers clear of daily politics – almost. In her book she admits a change of heart on the so-called “debt brake”, designed by her government to limit new borrowing. It has faced growing criticism that pushing balanced budgets has contributed to low growth, crumbling physical infrastructure and delayed digital transformation. In her memoir, Merkel argues that the debt brake “needs to be reformed to allow higher levels of debt to be assumed for the sake of investment in the future”. The book’s second half is a document to Merkel’s staggering workload as a four-term chancellor as one crisis segued into another. On Russia, she says “to underestimate [Vladimir] Putin would be a mistake” without making clear whether she did just that in office. All her energy decisions, she points out, had broad political and business backing. [ Russian missiles target Ukraine’s energy infrastructure Opens in new window ] When she came to office Germany relied on Russia for 41 per cent of its natural gas. That rose to 63 per cent when she left office, in part to bridge the gap from closing down nuclear plants. In her memoir Merkel never addresses whether it was wise to have nearly two-thirds of Germany’s energy eggs in one basket controlled by a man with “dictatorial traits”. Pre-release extracts of her book discuss her relationship with Donald Trump – “someone who won’t permit win-win situations” and her pre-war opposition to Ukraine joining Nato. [ Merkel saw Trump as spellbound by autocratic leaders Opens in new window ] On defence, she says “Germany must make up for its repeated failure to increase the defence budget” in the decade to 2024, while neglecting to mention her centre-right group’s control of the defence ministry for 16 years when she oversaw considerable budget cuts. On China, she warns of New Silk Road investment partner countries who have “stumbled into financial dependencies with China” without mentioning considerable exposure of the Germany economy – in particular through companies such as Volkswagen. On the banking and euro crisis, Merkel acknowledges that austerity measures in Greece and other bailout countries left her reputation “in tatters” there for hitting the worst-off, without reflecting on whether this approach was inevitable. Ireland is mentioned only in passing, as seeking emergency financial assistance from the European Financial Stability Facility emergency fund in the summer of 2012. She blames France and the European Central Bank for blocking private investor “haircuts” because they “feared lasting damage to investor confidence in the euro zone”. Merkel has little new to add on the memorable night of September 4/5th, 2015, when Hungary sent a human convoy of asylum seekers to Austria and Germany, both of which decided not to close their borders. A decade on, amid a surge in support for anti-asylum parties across Europe, Merkel insists her original decision was correct given the “special circumstances of a humanitarian emergency” – but must never be repeated. “That such a decision had been necessary at all revealed the failure of Europe leading up to that point.” Amid a surge in support for anti-asylum parties, she warns that mainstream parties will “fail... if they assume they can keep it down by appropriating [their] pet topics and even trying to outdo [their] rhetoric without offering any real solutions to existing problems”. Merkel describes Brexit as “a humiliation, a disgrace” but insists London’s demand for immigration limits “was an attack on a cornerstone of the European Union, and one I was unable to accept”.Investor interest in automotive aftermarket M&A will remain high in 2025 as favorable tailwinds, including an increasingly aging car parc, more miles traveled, and the proliferation of new technologies, continue to drive the industry forward, according to an industry report released by the Automotive Aftermarket investment banking team at Brown Gibbons Lang & Company (BGL). (PRNewsfoto/Brown Gibbons Lang & Company) Investor interest in automotive aftermarket M&A will remain high in 2025 as favorable tailwinds, including an increasingly aging car parc, more miles traveled, and the proliferation of new technologies, continue to drive the industry forward, according to an industry report released by the Automotive Aftermarket investment banking team at Brown Gibbons Lang & Company (BGL). (PRNewsfoto/Brown Gibbons Lang & Company) The BGL Automotive Aftermarket Insider – AAPEX/SEMA Show Recap

America's wealthiest billionaires have witnessed an extraordinary year in 2024, with their fortunes far outpacing the 3% growth of the U.S. economy. What Happened: Surging markets, fueled by advancements in technology and artificial intelligence, have propelled their wealth to unprecedented levels. According to the report by The Daily Beast, these top 10 billionaires amassed gains nearly equivalent to the U.S. government's annual defense budget of $850 billion. 10. Michael Dell : $14 Billion The founder of Dell Technologies DELL saw a 55% surge in his company's stock this year, thanks to its transformation into an infrastructure powerhouse for the AI age. Dell owns approximately half of the company, contributing significantly to his fortune. 9. Larry Page and Sergey Brin : $19–20 Billion The Alphabet GOOGL founders benefited from the company's $650 billion valuation increase in 2024. Despite stepping back from operations, they retain control through super-voting shares, owning just over 3% each of the tech giant. 8. Steve Ballmer : $20 Billion The former Microsoft MSFT CEO continues to profit from the company's revival under Satya Nadella. Ballmer owns 4.5% of Microsoft, which has funded ventures such as a new stadium for the LA Clippers, the NBA team he owns. 7. Warren Buffett : $29 Billion Through Berkshire Hathaway BRK , Buffett continues to outperform the market. The company's value rose 28% this year, helping Buffett build his cash reserves to an impressive $325 million, or 30% of Berkshire's valuation. 6. Jeff Bezos : $63 Billion Bezos, the founder of Amazon AMZN , saw his wealth soar by over $1 billion weekly as Amazon stock rebounded. Bezos retains nearly 9% of the company, funding projects like Blue Origin through periodic stock sales. Also Read: From Steve Ballmer To Jamie Dimon, Meet The Billionaires Who Amassed Their Wealth Without Founding A Company 5. Jensen Huang : $72 Billion The founder of Nvidia NVDA reaped immense gains as the company became the darling of the AI revolution. Nvidia's value more than doubled in 2024, with Huang's 3.8% stake driving his fortune. 4. Larry Ellison : $73 Billion The Oracle founder's fortune grew alongside the company's role as a key player in cloud computing. Ellison owns 43% of Oracle, benefiting significantly from the AI-driven surge in enterprise demand. 3. Mark Zuckerberg : $82 Billion Zuckerberg's Meta META saw its value rise more than sixfold since late 2022, thanks to strong margins and AI developments like the Llama open-source model. His 13.5% stake in Meta underpins his staggering gains. 2. The Waltons : $148 Billion America's richest family, heirs to Walmart WMT , collectively control the fortune built by Sam Walton. Their wealth solidifies Walmart's status as one of the largest employers in the country. 1. Elon Musk : $252 Billion The Tesla TSLA and SpaceX founder tops the list with his fortune growing by nearly $5 billion weekly. Musk's ventures, including Neuralink, the Boring Company, and his federal government initiatives, further cement his status as the most influential figure in business. Read Next Billionaires’ Paradise: New York Tops The List Of 16 Cities Housing The World’s Richest This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Image: Shutterstock © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.According to the 34-point agreement which President Anura Kumara Dissanayake, AKD for short, had with Prime Minister Narendra Modi or simply Modi, the two countries have agreed to promote, among others, trade and investment between them1. There are three agreements that are strikingly prominent and promising. One is that they have agreed to continue discussion on economic and technological agreement, shortened as ETCA, which is now in an abortive state. Another is the direct use of Indian Rupee or INR and Sri Lanka Rupee or LKR for transactions thereby avoiding the intermediate exchange currency, the US dollar. The third is for India to invest in sectors that will increase Sri Lanka’s export potential. All these are interrelated and should naturally form the core of any ETCA to be negotiated. But this is not an easy task for AKD, given that the political force behind him, namely, Janata Vimukthi Peramuna or JVP, had taken an anti-ETCA stand in the past2. Speaking at an anti-ETCA seminar hosted by JVP in January 2016, AKD, while appreciating the beneficial impact for Sri Lanka from globalised economic relations with other countries, is reported to have objected to the proposed ETCA with India. He had pronounced at this seminar: “Our opposition depends on whether such an agreement is advantageous to the country or not.”3 He is reported to have further elaborated on this point relating to ETCA with India: “There is a political gamble here. India is trying to intervene in politics in our country. Already, there are many RAW spies in Jaffna. Before our country is made a political play-ground India wants to gobble our economy. Already India has a monopoly in the vehicle, medicine and construction sectors. Already, they are controlling our economy. Through that they manipulate politics in our country. It is this political need that jumps out of Ranil’s mouth. We would never allow this agreement to be signed,”4. Eight years after this public denouncement of India and its ETCA, pragmatic AKD has realised that India is indeed a friend, not a rival, and a force to be reckoned with. The political transformation of a leader in this manner considering the best interest for his people is a salutary development. But to make this agreement a reality, AKD should now field a competent team from Sri Lanka to negotiate with their Indian counterparts on an equal footing so that those so-called dangerous components will not penetrate the final version of ETCA. The announcement in the joint press statement drew praises as well as brickbats for AKD immediately. Ex-President Ranil Wickremesinghe who had made two abortive attempts at upgrading Indo-Sri Lanka Free Trade Agreement or ISLFTA to a comprehensive economic partnership agreement or CEPA in 2004 and rebranding the same as an economic and technological cooperation agreement or ETCA in 2017 had praised AKD for his bold stand on a new ETCA5. Meanwhile, those who had got their political training through hard JVP ideology have been up in arms against any attempt at rescuing ETCA by AKD. Former student leader Wasantha Mudalige who struggled against Wickremesinghe government has told a media briefing that if ETCA is allowed, about a half a million unemployed doctors from India may invade Sri Lanka drawing on its adverse consequences6. Critics are reported to have informed a national newspaper that the proposed move will adversely affect the country’s small and medium enterprises and its services sector, implying that both these sectors are still unable to compete with more advanced Indian counterparts7. Taking cue from the critics, foreign minister Vijitha Herath is said to have denied that Sri Lanka has either signed or implemented an ETCA with India8. This is a ‘move for neutralising political opponents’, but it does not augur well for the country intending to enter into an important trade and investment agreement with another country. It seems that AKD’s political backers, namely, National People’s Power or NPP, is buying time. Sri Lanka and India being close neighbours, it is natural that both these nations should have a vibrant trade relation with each other. In early days, merchants from Far East visited South Indian ports to buy export goods from Sri Lanka9. But during the latter part of the first millennium, this entrepot trade shifted from south Indian ports to ports in Sri Lanka making it an important trading centre along the East-West marine route10. Sri Lankan numismatist, Osmund Bopearachchi has established through archaeological findings the presence of Sri Lankan traders in South India and Tamil traders in Sri Lanka11. Hence, historical evidence has revealed that, as in under trade agreements, it has been a two-way traffic and not trade from India to Sri Lanka alone or vice versa. Both the previous CEPA and ETCA had elaboratively identified these goods to be traded between the two countries under duty-free conditions. But this list may need further updating today and it is the responsibility of the ETCA negotiators from each country to make a hard negotiation of same. Sri Lanka has only a four-and-a-half-decade experience of trade with India under trade agreements. The first Indo-Sri Lanka Free Trade Agreement or ISLFTA, signed in December 1998, was in effect since January 2000. This trade agreement covers only the visible merchandise goods and not services. But why should Sri Lanka go for a free trade agreement with India when the global trade has become almost free with the average global tariff rate has fallen to 2% by 2022? Several reasons. The global trade as a share of the world gross domestic product or GDP has increased from 20% in 2000 to 29% in 2022. But Sri Lanka’s share of exports in the world’s GDP has declined by about 38% during this period and it has remained even less than 0.1% over these years. In contrast, India’s share has increased by about 176% from 0.7% to 1.8% during this period12. Given this perilous state, Sri Lanka should naturally jump the bandwagon of India and seek to harness the positive outcomes that would emanate from that relationship. What this means is that though the global tariff rates have declined, Sri Lanka had not been able to benefit from it by competing independently with its competitors. Hence, the support which it can marshal from a dynamic and expanding nation like India is to be utilised fully by developing bilateral trade relations. The purpose of trade agreements is to promote trade, both imports and exports. It will therefore enable the two agreeing nations to exchange the surplus goods, while filling shortages at zero or preferential tariff rates. This is true for ISLFTA too. But there are two objections to bilateral trade relations. One relates to the big-small country syndrome like India is big and Sri Lanka is small and, therefore the two countries cannot do trading on an equal footing. This objection is based on unfounded logic since trade takes place not with countries but with individuals or firms. If the big-small logic is valid, a small nation like Singapore can never have trade relations with a giant like USA. But Singapore does trade with USA well because the firms which do trading are guided not by the size but by the quality, price, and the mutual satisfaction. The other objection relates to the superior competitive advantage which one party may have over the other. In the case of ISLFTA, India is viewed as an economy with higher competitive advantage over those in Sri Lanka. Hence, Indian competition is feared by Sri Lankan counterparts because they, still being infants in business, cannot successfully compete with Indian products. As a result, it is feared that Indian goods will flood the market displacing Sri Lankan producers. This fear has an element of validity, but it had been successfully addressed in ISLFTA by having a list of goods which do not come within the agreement. This list, known as negative list, is longer in the case of Indian goods coming to Sri Lanka containing 1,180 goods and shorter in the case of Sri Lankan goods going to India covering only 429 goods13. This negative list does not enjoy tariff relief and, hence, should be traded under normal trading conditions. According to EDB, on average, about 70% of Sri Lanka’s exports to India during 2000-13 had been made under ISLFTA, while Indian products coming to Sri Lanka under the agreement had been only 17%14. Hence, the fear that ISLFTA has caused a free flow of Indian goods to Sri Lanka is not warranted. These negative lists were introduced to ISLFTA to protect domestic industries and thereby allay the fears of local producers. However, an economic analyst has found that the list has negatively contributed to the growth of the protected industries harnessing both the comparative and competitive advantages and preventing both countries to get the maximum benefit from trade liberalisation initiative15. What is suggested here is that countries should expose themselves to free trade arrangements without prohibitive strings attached to them. It is in this background that both India and Sri Lanka planned to graduate themselves to the next stage of economic relations by commencing negotiations for a wider trade agreement in the style of a comprehensive economic partnership in early 2000s. These negotiations produced a basic document for sanctioning by both countries by 2004. However, the change in the Government in Sri Lanka aborted that attempt. CEPA has been India’s style of developing economic relations with the rest of the world which it says is being done with all the countries in the world. So far India has signed comprehensive or enhanced trade partnership agreements with UAE, Australia, Canada, Israel, UK, Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, South Africa, Botswana, Lesotho, Swaziland, Namibia, Japan, South Korea, Singapore, Malaysia, Thailand, Nepal, Bhutan, Mauritius, covering the entire world16. Sri Lanka remaining outside this net has been a loser in the trade. The Ranil Wickremesinghe Government of 2015-9 sought to correct the situation by rebranding the previous CEPA as an economic and technological cooperation agreement or ETCA in 2015. When there was growing opposition to ETCA, I clarified the position in a five-part article series in this column17. I argued in this series that the wrong perception about ISLFTA has been misconceived since the outcome has been for the country’s benefit. The Government should place the ETCA plan before the people so that the critics can be argued out in intellectual forums and not in streets. The fear that Indian professionals in IT, Law, Medicine, and Engineering will flood Sri Lanka is not based on actual inflows but on the fear to face competition. The Government should break the silence on the entire ETCA affair and subject itself to review by people, a good practice under the democratic economic governance. Sri Lanka should link its products to global markets through supply chains developed with Indian counterparts. Sri Lanka will benefit by opening its services sector, especially, education, healthcare, and ICT, to Indian partners. ETCA is a way forward for Sri Lanka to harness the benefits of international trade for creating prosperity to Sri Lankans. It is this aborted ETCA which has resurfaced in the joint statement by the Indian and Sri Lankan leaders after they met in December 2024. In my view, AKD should not treat ETCA as a trap but an immense opportunity for Sri Lanka to get out of the current problems in the medium to long run. In that context, the previous ETCA should be expanded further by incorporating educational affiliations by local universities with those high-ranking Indian counterparts. It will pave way for Sri Lankan universities to improve the academic standards as well as research capabilities. India is expanding its investments heavily in technology and Sri Lanka should seek to harness benefits out of those tech advancements. Hence, AKD should immediately set to business by setting up a competent negotiation team to negotiate, finalise and implement ETCA as early as possible. 1https://mfa.gov.lk/india-sri-lanka-joint-statement/ 2https://www.jvpsrilanka.com/english/jvp-would-not-allow-ranil-to-subdue-mass-struggles-with-his-arrogance/ 3Ibid. 4Ibid. 5https://www.ft.lk/front-page/Ranil-praises-AKD-for-advancing-ETCA-with-India/44-770633 6https://www.thecolombopost.org/2024/12/5-lakh-indian-doctors-to-sri-lanka-with-etca-agreement/ 7https://www.sundaytimes.lk/241222/business-times/indo-lanka-etca-talks-revived-after-presidents-indian-visit-581107.html 8https://srilankamirror.com/news/vijitha-clarifies-govts-stance-on-etca/ 9De Silva, K M, 2005, A History of Sri Lanka, Vijitha Yapa, Colombo p 45. 10Siriweera, W I, 1994, A Study of the Economic History of Pre-modern Sri Lanka, Vikas, Delhi, p 133. 11https://books.openedition.org/ifp/7871#:~:text=Tamil%20Nadu%20and%20Sri%20Lanka,a%20different%20and%20important%20context. 12https://ourworldindata.org/grapher/share-of-global-merchandise-exports?tab=table&time=earliest..latest&country=Africa+%28UN%29~Asia+%28UN%29~Europe+%28UN%29~Northern+America+%28UN%29~Latin+America+and+the+Caribbean+%28UN%29~Developing+regions~Least+Developed+Countries+%28LDCs%29~Northern+Africa+%28UN%29~Sub-Saharan+Africa+%28UN%29~Oceania+%28UN%29~LKA~IND 13EDB, 2014, Indo-Sri Lanka Free Trade Agreement, unpublished mimeograph, Colombo. 14Ibid. p 5. 15Perera, M S S, 2008, Impact of the Indo-Lanka Free Trade Agreement on the Sri Lankan Economy: A Computable General Equilibrium Analysis, South Asia Economic Journal, 9:1, p 1-50. 16https://pib.gov.in/Pressreleaseshare.aspx?PRID=1781867 17They can be accessed at: https://www.ft.lk/columns/sri-lanka-faces-crucial-tests-ahead-with-growing-opposition-to-etca/4-525181 ; https://www.ft.lk/columns/etca-is-not-cepa-in-all-respects-but-it-should-be-made-public-to-allay-fears/4-526676 ; https://www.ft.lk/columns/management-of-economic-policy-3-sri-lanka-should-tap-global-unbundling-opportunities-of-services-und/4-527941 ; https://www.ft.lk/columns/padeniya-chinthana-on-etca-govt-should-fight-it-in-intellectual-forums-not-in-the-streets/4-529777 ; and https://www.ft.lk/columns/etca-or-any-other-policy-is-destined-to-fail-if-not-properly-managed/4-530899 .

Jimmy Carter, the 39th US president, has died at 100 ATLANTA (AP) — Former U.S. President Jimmy Carter has died. He was 100 years old and had spent more than a year in hospice care. The Georgia peanut farmer served one turbulent term in the White House before building a reputation as a global humanitarian and champion of democracy. He defeated President Gerald Ford in 1976 promising to restore trust in government but lost to Ronald Reagan four years later amid soaring inflation, gas station lines and the Iran hostage crisis. He and his wife Rosalynn then formed The Carter Center, and he earned a Nobel Peace Prize while making himself the most internationally engaged of former presidents. The Carter Center said he died peacefully Sunday afternoon in Plains, Georgia, surrounded by his family. Jimmy Carter: Many evolutions for a centenarian ‘citizen of the world’ PLAINS, Ga. (AP) — The 39th and longest-lived U.S. president, James Earl Carter Jr., died Sunday at the age of 100. His life ended where it began, in Plains, Georgia. He left and returned to the tiny town many times as he climbed to the nation’s highest office and lost it after four tumultuous years. Carter spent the next 40 years setting new standards for what a former president can do. Carter wrote nearly a decade ago that he found all the phases of his life challenging but also successful and enjoyable. The Democrat's principled but pragmatic approach defied American political labels, especially the idea that one-term presidents are failures. The Latest: Former President Jimmy Carter is dead at age 100 Former President Jimmy Carter has died at the age of 100. The 39th president of the United States was a Georgia peanut farmer who sought to restore trust in government when he assumed the presidency in 1977 and then built a reputation for tireless work as a humanitarian. He earned a Nobel Peace Prize in 2002. He died Sunday, more than a year after entering hospice care, at his home in Plains, Georgia. Carter was sworn in as president on Jan. 20, 1977, after defeating President Gerald R. Ford in the 1976 general election. He left office on Jan. 20, 1981, following his 1980 general election loss to Ronald Reagan. Jimmy Carter: A brief bio Former U.S. President Jimmy Carter has died at his home in Plains, Georgia. His death comes more than a year after the former president entered hospice care. He was 100 years old. Jetliner skids off runway and bursts into flames while landing in South Korea, killing 179 SEOUL, South Korea (AP) — A jetliner skidded off a runway, slammed into a concrete fence and burst into flames in South Korea after its landing gear apparently failed to deploy. Officials said all but two of the 181 people on board were killed Sunday in one of the country’s worst aviation disasters. The 737-800 operated by Jeju Air plane arrived from Bangkok and crashed while attempting to land in the town of Muan, about 290 kilometers (180 miles) south of Seoul. Footage of the crash aired by South Korean television channels showed the plane skidding across the airstrip at high speed, evidently with its landing gear still closed. Tornadoes in Texas and Mississippi kill 2 and injure 6 as severe weather system moves east HOUSTON (AP) — A strong storm system is threatening to whip up tornadoes in parts of the U.S. Southeast, a day after severe weather claimed at least two lives as twisters touched down in Texas and Mississippi. Strong storms moving eastward Sunday are expected to continue producing gusty, damaging winds, hail and tornadoes through Sunday. That is according to National Weather Service meteorologist Frank Pereira. So far, the line of severe weather has led to about 40 tornado reports from southeastern Texas to Alabama, Pereira said, but those reports remain unconfirmed until surveys of damage are completed. Israeli hospital says Netanyahu has undergone successful prostate surgery TEL AVIV, Israel (AP) — An Israeli hospital says Prime Minister Benjamin Netanyahu has undergone successful prostate surgery. Jerusalem’s Hadassah Medical Center said his prostate was removed late Sunday and that he was recovering. Netanyahu’s office had said Justice Minister Yariv Levin, a close ally, would serve as acting prime minister during the procedure. Doctors ordered the operation after detecting an infection last week. Netanyahu is expected to remain hospitalized for several days. With so much at stake, Netanyahu’s health in wartime is a concern for both Israelis and the wider world. Syria's de facto leader says it could take up to 4 years to hold elections BEIRUT (AP) — Syria’s de facto leader has said it could take up to four years to hold elections in Syria, and that he plans on dissolving his Islamist group that led the country’s insurgency at an anticipated national dialogue summit for the country. Ahmad al-Sharaa, who leads Hayat Tahrir al-Sham, the group leading the new authority in Syria, made the remarks in an interview Sunday. That's according to the Saudi television network Al-Arabiyya. It comes almost a month after a lightning insurgency led by HTS overthrew President Bashar Assad’s decades-long rule, ending the country’s uprising-turned civil war that started back in 2011. A fourth infant dies of the winter cold in Gaza as families share blankets in seaside tents DEIR AL-BALAH, Gaza Strip (AP) — A fourth infant has died of hypothermia in Gaza, where hundreds of thousands of Palestinians displaced by nearly 15 months of war are huddled in tents along the rainy, windswept coast as winter arrives. The baby's father says the 20-day-old child was found with his head as “cold as ice” Sunday morning in their tent. The baby’s twin brother was moved to the intensive care unit of Al-Aqsa Martyrs Hospital. Their father says the twins were born one month premature and spent just a day in hospital, which like other Gaza health centers has been overwhelmed and only partially functions. Musk causes uproar for backing Germany's far-right party ahead of key elections BERLIN (AP) — Tech entrepreneur Elon Musk has caused uproar after backing Germany’s far-right party in a major newspaper ahead of key parliamentary elections in the Western European country, leading to the resignation of the paper’s opinion editor in protest. Germany is to vote in an early election on Feb. 23 after Chancellor Olaf Scholz’s three-party governing coalition collapsed last month in a dispute over how to revitalize the country’s stagnant economy. Musk’s guest opinion piece for Welt am Sonntag, published in German over the weekend, was the second time this month he supported the Alternative for Germany, or AfD.CAPE TOWN, Nov 25 — On a sunny afternoon in Cape Town’s seaside village of Simon’s Town, three young chacma baboons cause a commotion, clambering on roofs, jumping between buildings and swinging on the gutters. Enchanted tourists stop to photograph the troop crossing the road. Locals are less impressed: it’s a daily scene in the charming village nestled between the Atlantic Ocean and Table Mountain National Park. About 500 chacma baboons — among the largest monkey species and weighing up to 40 kg — roam the peninsula south of Cape Town, says the South African National Biodiversity Institute. And as human development pushes up the mountain into their natural habitat, the animals are increasingly entering plush properties to forage in gardens and take the pickings from the bins. Some manage to sneak into houses where they can wreak havoc. Many locals are fond of the creatures, giving them pet names and following their daily adventures on social media. But others are increasingly frustrated. “They’ve become so bold now. They’re more domesticated than they should be,” said Duncan Low, 60, who runs an ice cream shop. The intruders have even started raiding kitchens and grabbing food from plates in restaurants. “They’re on a sugar and fast-food rush,” Low said. In 2021, the city put down a notorious alpha-male monkey who had terrorised residents with more than 40 raids for food in rubbish bins, from lawns and porches, sometimes entering homes while people were inside. Monkey management Tension between humans and baboons is “the highest it’s ever been”, said ecologist Justin O’Riain, who directs the Institute for Communities and Wildlife in Africa at the University of Cape Town. A baboon on the edge of a wild and an urban area is “the most difficult animal in the world to manage”, O’Riain said. “They are strong, they can climb... and they can learn from each other: there’s no landscape that they can’t conquer.” As human settlement of the Cape has expanded, the baboons have been “pushed higher and higher up the mountain” where foraging conditions are harder, O’Riain added. The lush gardens that people have built, with fruit trees and swimming pools, are tempting attractions. The City of Cape Town, in partnership with park authorities, has for years run a programme to manage the marauding monkeys that relies on teams of baboon monitors. They employ a primarily non-lethal approach, O’Riain said. However, some techniques, such as firing paintball guns to keep troops away or culling a particularly problematic animal, have come under fire. Amid an increasingly emotional outcry, vociferous campaigner Baboon Matters announced court action against the city and parks authorities in May for failing to implement what it considers more acceptable control measures, such as baboon-proof fencing and bins. Facing criticism and funding limits, the authorities said the baboon management programme would be wound down by the end of the year as they investigate other “more sustainable urban solutions”. It will however remain in place through December — a particularly busy month for tourists — but with fewer rangers, it said. “We’re going to lose our first line of defence,” O’Riain said, with more baboons already entering urban areas often at risk to their lives. Deaths highest in 10 years Thirty-three baboons were known to have died between July 2023 and June 2024, the highest number in 10 years, city authorities say. Nearly half the deaths were caused by human factors, including shooting with pellet guns, collisions with vehicles and dog attacks. Coexistence with baboons should come with “a degree of human compliance”, starting with managing food waste, conservation activist Lynda Silk, head of the Cape Peninsula Civil Conservation group, said. “We don’t need to be in competition with our natural resources: there can be ways that we can manage our lifestyles to minimise the negative impacts,” she said. For O’Riain, the only viable solution to the baboon battle is to erect fencing in certain areas that is made up of electric wiring and underground mesh to prevent the animals from digging underneath. A prototype installed 11 years ago had shown great success, with almost no animals entering the area, he said. A 2023 report already suggested where the fencing should be placed. “Baboons can come and forage right up to the edge of the fence and no one will disturb them,” said O’Riain. “It’s a completely peaceful interaction, a win-win for people and for baboons.” — AFP

Just in time for the holidays, low-cost Icelandic airline is offering 35% off fares from the U.S. to Iceland and sought after European destinations. It’s a limited time deal only available on December 22 and 23, so travelers have to act fast to score big savings. puts dream trips within reach, letting travelers save money for meals, activities, accommodations, and more. Whether roaming along Amsterdam’s canals or viewing the Eiffel Tower, travelers can relax knowing they have leftover cash to make the most of their time. Here are the details. The sale covers flights from: • Baltimore/Washington International Thurgood Marshall Airport (BWI) •Boston Logan International Airport (BOS) • New York Stewart International Airport (SWF) Destinations include: Iceland (KEF) Copenhagen (CPH) Paris (CDG), London (STN) Amsterdam (AMS) Berlin (BER) Dublin (DUB) Valid travel dates (2025): January 25 to February 14 February 17 to February 22 February 24 to March 7 March 9 to June 28 September 1 to October 25 The discount is subject to availability and is automatically subtracted from the airfare (not fees, tax, carrier fees, or additional services). Additionally, the sale doesn’t apply to baggage fees or seat selection. PLAY is a low-cost Icelandic airline serving North America and Europe. In addition to low fares, the airline uses new Airbus aircraft, for a comfortable, pleasant flight. PLAY’s website says it best: “At PLAY, safety is the name of the game. Our other core values are on-time performance, simplicity, happiness, low prices, and safety. Yes, we said safety twice because that’s how we play it.” The post appeared first on .