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By EquityPandit

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Dozens of Towns Isolated by Flooding in Australian State

Hundreds of people have been rescued from floodwaters that have isolated dozens of towns in Australia‘s most populous state New South Wales and forced thousands to evacuate their homes as record rain continues to inundate the country’s east coast. Around 18,000 people had been evacuated from flooding in New South Wales by Monday and emergency services feared up to 54,000 people could be displaced with rain forecast to continue until Wednesday. Prime Minister Scott Morrison told Parliament that 35 communities in northern New South Wales had been isolated and emergency services had conducted more than 700 flood rescues.


“We are grateful at this point that no lives have been lost so far,” Morrison said. “But weakened foundations for buildings, for roads and trees, they all create risk, as do downed power lines and rising water levels.” A year ago, vast swathes of New South Wales had been charred by unprecedented wildfires following years of drought that gripped most of the state. Some of the same areas were now being inundated by one-in-50-year and one-in-100-year rain events. New South Wales Premier Gladys Berejiklian said up to 38 parts of the state had been declared natural disaster areas.


“I don’t know any time in our state’s history where we have had these extreme weather conditions in such quick succession in the middle of a pandemic,” Berejiklian told reporters. “So, they are challenging times for New South Wales.” Thousands of people have been affected with 40 flood warnings and 20 evacuation orders along the state’s Mid North Coast, and in western Sydney. Houses had been submerged and destroyed while several communities had lost power.

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China’s Private Factory Output Beats Forecasts Despite Trump Tariffs

Dhruva Kulkarni

China’s manufacturing activity grew at its fastest pace in four months, defying expectations ahead of Trump’s planned tariff hikes on exports to the US.  

The Caixin manufacturing PMI rose to 51.2 in March from 50.8 in February, surpassing forecasts and indicating expansion.  

Supply and demand improved, and exports grew, but the job market remained weak, and deflationary pressures persisted.

The private survey focused on small and export-driven firms and showed stronger results than the official poll.  

Despite US tariffs, China’s manufacturing sector displayed resilience, with new export sales rising at the fastest pace in nearly a year.  

Trump’s administration plans new reciprocal tariffs on 2nd April, with China warning of retaliation, adding to trade uncertainty.

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German Retail Sales Climb, But Import Costs Weigh on Outlook

Dhruva Kulkarni

German retail sales rose 0.8% in February, surpassing analyst expectations of 0.2%, but increasing import prices pose inflation risks that could impact consumer spending.

Economists remain cautious, citing weak consumer sentiment. Chief economist Alexander Krueger noted that growing job concerns are limiting spending. Unemployment increased by 26,000 in March to 2.92 million, nearing the 3 million mark for the first time in a decade.

Import prices jumped 3.6% year-over-year in February, the highest in over two years, driven by food costs. As Germany imports many raw materials, these higher costs could push inflation up.

March inflation data, set for release on Monday, is expected to drop slightly to 2.4% from 2.6% in February.

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Xi Jinping Meets Global CEOs Amid Slowing Investment

Dhruva Kulkarni

Chinese President Xi Jinping met with global CEOs in Beijing to attract foreign investment and support China’s slowing economy amid geopolitical tensions.  

Beijing faces challenges reassuring investors about its $18 trillion economy, with concerns over strict regulations, crackdowns on foreign firms, and a business environment favouring state-owned companies.  

Xi thanked foreign enterprises for contributing to trade, industry, tax revenue, and job creation. Around 40 executives, mostly from the pharmaceutical sector, attended the meeting as China seeks to reverse a sharp 27.1% drop in foreign direct investment (FDI) in 2024—the steepest decline since the 2008 financial crisis.

He emphasised the role of multinational corporations in stabilising the global economy and urged them to support economic cooperation. The meeting followed the China Development Forum, where Premier Li Qiang called for open markets amid rising global uncertainty.  

Xi has also engaged domestic businesses, including a rare meeting with China’s top tech leaders last month, signalling efforts to restore economic confidence.

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Putin Accepts Modi’s Invite to India, Preparations Begin

Dhruva Kulkarni

Russian President Vladimir Putin has accepted Prime Minister Narendra Modi’s invitation to visit India, with preparations underway, Russian Foreign Minister Sergey Lavrov announced on 27th March.

Speaking at the ‘Russia and India: Toward a New Bilateral Agenda’ conference, Lavrov confirmed that arrangements for the visit are in progress but did not disclose the dates.

He noted that Modi’s first foreign visit after his re-election in 2024 was to Russia, adding, “Now it’s our turn.” Modi last visited Russia in July 2024 after nearly five years.

On 24th March, Lavrov stated that Russia is developing a “privileged strategic partnership” with India while expanding ties with China, Iran, North Korea, and CIS nations.

In January, Putin emphasised Russia-India relations as a “special and privileged strategic partnership” in his Republic Day message to India.

Modi and Putin maintain regular communication, speaking over the phone every few months and meeting in person during international events.

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Canada Spy Agency Warns of India, China Meddling in Election on 28th April

Dhruva Kulkarni

Canada’s intelligence agency, CSIS, has warned that India and China are likely to interfere in the 28th April election, with Russia and Pakistan also posing potential threats.

The report comes amid strained Canada-India and Canada-China relations, with both nations denying the allegations. CSIS found evidence of foreign interference in the 2019 and 2021 elections but stated that the outcomes were not affected, noting Canada’s slow response.

Deputy Director Vanessa Lloyd warned that China will likely use AI-enabled tools to influence the upcoming election.

Tensions between Canada and India worsened last year after Canada accused India of an assassination plot against a Sikh separatist, leading to diplomatic expulsions.

CSIS continues to monitor foreign interference threats, emphasising the need to safeguard democratic processes and maintain public trust.

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