Sri Lankan opposition submits No Trust Motion against Foreign Minister Karunanayake

Sri Lankan opposition submits No Trust Motion against Foreign Minister Karunanayake

Colombo, August 3 (newsin.asia): Thirty two members of the Joint Opposition in the Sri Lankan parliament on Thursday submitted to the Speaker a Motion of No Confidence against Foreign Minister Ravi Karunanayake for alleged financial links with Arjuna Aloysius, a stock broker involved in the 2015 Central Bank bond scam. Leader of the National Freedom Front, Wimal Weerawansa, told the...

Confusion over Lankan port deals could stymie FDI in maritime sector

Confusion over Lankan port deals could stymie FDI in maritime sector

Colombo, August 3 (newsin.asia): Continuing confusion over the terms of foreign participation in the development of Sri Lanka’s ports, threatens to stymie Foreign Direct Investment (FDI) in the island nation’s maritime sector. It is not only the Hambantota port, but the Colombo port’s East Terminal and the to-be-constructed Trincomallee port have become victims of policy confusion, secret maneuverings, and political...

Sirisena wants Sino-Lankan deal on Hambantota port to be amended again

Sirisena wants Sino-Lankan deal on Hambantota port to be amended again

Colombo, August 2 (newsin.asia): Sri Lankan President Maithripala Sirisena told the Sri Lanka Ports Authority (SLPA) on Tuesday, that the agreement that the government had signed with the China Merchant Port Holdings Company (CMPort) on July 29 on the Hambantota deep water port, will be amended to the advantage of the SLPA. Answering criticism from the media and the Joint...

Sri Lanka and China to set up joint committee on projects

China wants to trade with Sri Lanka in RMB, not US Dollar

Colombo, Aug 1 (newsin.asia) - China, on Monday requested Sri Lanka to directly use the Chinese currency RMB, rather than the US dollar, in trading between the two countries. China's Ambassador to Sri Lanka, Yi Xianliang, speaking at the China Sri Lanka Infrastructure Investment Cooperation Forum in Colombo said Chinese President Xi Jinping had suggested to Sri Lankan leaders to use...

Sri Lanka: A country trapped in debt

Sri Lanka, China $1.1 bln port deal to boost FOREX, attract more investments

Colombo, July 31 (newsin.asia) - China's deal with Sri Lanka to acquire a 70 percent stake to develop the Hambantota Port in southern Sri Lanka for 1.12 billion US dollars will boost Sri Lanka's foreign-exchange reserves and help bolster investor confidence, an international rating agency said Monday. Moody's, in its latest report said earnings from the Hambantota Port stake sale will...

Sri Lanka joins China’s OBOR project with deal on Hambantota port

Sri Lanka joins China’s OBOR project with deal on Hambantota port

Colombo, July 30: With the signing of the amended agreement by the Sri Lanka Ports Authority (SLPA) and the China Merchant Port Holdings Company (CMPort) here on Saturday, Sri Lanka has well and truly joined China’s One Road One Belt (OBOR) multi-continental communications project, writes P.K.Balachandran in www.southasianmonitor.com With Pakistan, Bangladesh, Nepal and Myamnar also signing up for OBOR, India...

Points to ponder over Big Power connectivity projects

Points to ponder over Big Power connectivity projects

Asian rivals China and India are busy putting together intercontinental connectivity projects to enhance their economic and strategic power well beyond their borders, in pursuance of the goal to be the new Big Powers in the 21st Century aptly named the “Asian Century”, writes P.K.Balachandran in DailyFT.. China is touting its humongous One Belt One Road (OBOR) global connectivity project...

Hambantota port to be part of China’s One Belt One Road project: CMPort official

Hambantota port to be part of China’s One Belt One Road project: CMPort official

Colombo, July 29 (newsin.asia): Sri Lanka and China on Saturday signed an amended agreement on further building and running the controversial Hambantota port in South Sri Lanka. While Sri Lanka’s Ports Minister Mahinda Samarasinghe hailed the agreement as one which would help Sri Lanka financially, the Executive Vice President of the partner company China Merchant Group (CMG), Dr.Hu Jianhua, said...

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