China to US: ‘Market has spoken’ after tariffs spur selloff

Colombo: Indian Prime Minister Narendra Modi received a ceremonial guard of honor in Colombo on Saturday as his delegation signed energy and defense agreements with Sri Lanka, where New Delhi competes with China for greater influence.
Sri Lankan President Anura Kumara Dissanayake rolled out the red carpet for Modi and welcomed him with a 19-gun salute in the capital’s Independence Square.
He also conferred Sri Lanka’s highest civilian honor, Mithra Vibhushan, on the Indian prime minister.
“This prestigious honor, which was introduced in 2008, is conferred upon heads of states and government for their friendship, and honorable Prime Minister Modi highly deserves this honor. That is what we firmly believe,” Dissanayake said during a joint press conference with Modi, after the two countries signed seven cooperation agreements.
Modi arrived in Sri Lanka on Friday evening from Thailand, where he participated in the annual summit of BIMSTEC, a regional grouping of the seven countries on the Bay of Bengal.
He is accompanied by External Affairs Minister S. Jaishankar, National Security Adviser Ajit Doval, and Foreign Secretary Vikram Misri, who signed agreements on defense cooperation, information and technology sharing, and energy imports and exports with the Sri Lankan government.
Another energy deal was signed between India, Sri Lanka, and the UAE on cooperation in the development of Trincomalee port as an energy hub.
“We welcome the important agreements made in the area of defense cooperation. We have also agreed to work together on the Colombo security conclave and security cooperation in the Indian Ocean,” Modi said.
“The agreement reached to build a multiproduct pipeline and to develop Trincomalee as an energy hub will benefit all Sri Lankans. The Grid Inter-Connectivity Agreement between the two countries will create opportunities for Sri Lanka to export electricity.”
The Indian prime minister is the first foreign head of state to visit the island nation since Dissanayake and his leftist alliance swept last year’s presidential and parliamentary elections.
The visit comes as Colombo balances ties with India, its powerful neighbor, and China, its biggest lender, which at the same time is India’s main regional foe.
Dissanayake’s first foreign visit as president was to New Delhi in December, followed by a visit to Beijing in January, highlighting Sri Lanka’s careful diplomacy between the two powers.
“Within the Indian subcontinent and Chinese belt, Sri Lanka is caught as a strategic island — not only in the Indian Ocean — between these two giants,”  historian and analyst Dr. B.A. Hussainmiya  told Arab News.
“Their geopolitical interest is centering in the Indian Ocean and in the Himalayas, so Sri Lanka, being a very small country, cannot hold its strength unless it creates a balanced and nuanced diplomatic approach between these two powers to keep it afloat in the system.”

BANGKOK: Three US aid workers were laid off while in Myanmar helping the rescue and recovery from the country’s massive earthquake, a former senior staffer said, as the Trump administration’s dismantling of foreign aid affects its disaster response.
After traveling to the Southeast Asian nation, the three officials were told late this week they would be let go, Marcia Wong, a former official at the US Agency for International Development, told Reuters.
“This team is working incredibly hard, focussed on getting humanitarian aid to those in need. To get news of your imminent termination — how can that not be demoralizing?” said Wong, former deputy administrator of USAID’s Bureau for Humanitarian Assistance, which oversees Washington’s disease response efforts overseas.
President Donald Trump’s government has pledged at least $9 million to Myanmar after the magnitude-7.7 quake, which has killed more than 3,300. But his administration’s massive cuts to USAID have hindered its ability to respond, while China, Russia, India and other nations have rushed in assistance.
The Trump administration has moved to fire nearly all USAID staff in recent weeks, as billionaire Elon Musk’s Department of Government Efficiency has slashed funding and dismissed contractors across the federal bureaucracy in what it calls an attack on wasteful spending. The three USAID workers have been sleeping on the streets in the earthquake zone, Wong said, adding that their terminations would take effect in a few months. Residents have been sleeping outside for fear of aftershocks and further building collapses, Wong said she is in contact with remaining USAID staff and that she heard about the terminations after an all-staff meeting on Friday. Former USAID staff say most of the people who would have coordinated the response have been let go, while third-party implementing partners have lost contracts. The US State Department did not immediately respond to a request for comment. Secretary of State Marco Rubio on Friday rejected criticism that Washington was slow to respond to the March 28 earthquake because USAID was dismantled.
Rather, he told reporters in Brussels, Myanmar was not “the easiest place to work,” saying the military government does not like the United States and prevents it from operating in the country as it wants to.
The United Nations has said the junta was limiting humanitarian aid.
Rubio said the US would no longer be the world’s top humanitarian donor, calling on other wealthy nations to step up in assisting Myanmar.