Tag: Sri Lanka
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Sri Lanka President in India in First Overseas Trip
Sri Lankan President Anura Kumara Dissanayake was in India Monday for his first overseas visit as head of state, vowing to bolster ties between the neighbors. Leaders of the island nation typically make their first visit to regional powerhouse India, which ...
Gautam Adani Pulls Out of Sri Lanka Port Deal Meant to Counter China
The controversial Indian billionaire Gautam Adani has withdrawn from a loan deal with a U.S. government agency for a port terminal in Sri Lanka, aimed at expanding operations at the country’s Colombo port while countering Chinese influence in the region. Adani was ...
Sri Lanka Arrests Over 230 Chinese in Cybercrime Raids
Sri Lankan police have arrested over 230 Chinese men accused of targeting international banks in online scams, the foreign minister said on Tuesday, with help from security officials sent by Beijing. Vijitha Herath said police raids over the past week had ...
Sri Lanka Busts Chinese Cybercrime Racket
Sri Lanka's police have arrested 198 Chinese men on suspicion of operating a cybercrime ring from the South Asian nation, a police spokesman said Sunday. Deputy Inspector-General Nihal Thalduwa said the men were taken into custody at four locations during raids ...
Sri Lanka Approves Controversial Foreign Debt Deal
Sri Lanka's new government has approved a controversial restructure of $14.7 billion in foreign commercial credit tentatively agreed by its predecessor, the finance ministry said Saturday. Former leader Ranil Wickremesinghe announced a deal with international sovereign bondholders and the China Development ...
With Global Attention Elsewhere, Asia-Pacific Remains a Theater for China-India Rivalry
By Saniya Kulkarni In what has turned out to be the closest election in the history of Sri Lankan politics, left-leaning Anura Kumara Dissanayake has unseated Ranil Wickremesinghe to become the island country’s eighth president, also
China Pledges More BRI Cooperation as Sri Lanka Swears in New Leader
Anura Kumara Dissanayake was sworn in as Sri Lanka’s new president on Monday, after winning a rare second-round election over the weekend. The Marxist-leaning leader of the Janatha Vimukthi Peramuna (People’s Liberation Front) party won on a ticket of economic reconstruction ...
Xi Says Wants to Deepen BRI Cooperation With Sri Lanka Under New Leader
Chinese President Xi Jinping on Monday said he hoped to broaden cooperation with Sri Lanka under his Belt and Road Infrastructure Initiative (BRI) as he congratulated the island nation's new leader, Anura Kumara Dissanayaka. Dissanayaka, a self-avowed Marxist, took his oath ...
Cash-Strapped Sri Lanka Eyes China Development
By Amal Yayasinghe Sri Lanka's economic collapse was partly blamed on struggling high-debt Chinese mega-projects, but candidates in Saturday's presidential election are banking on at least one of them to buck the trend. The strategically ...
Sri Lanka’s Creditors Demand Deal Details, Including With China
Sri Lanka's bilateral lenders, who agreed to restructure close to $6 billion in loans, have demanded "comparability of treatment" with other creditors, including China. A statement seen by AFP on Thursday read that the Official Creditor Committee (OCC), led by Japan, ...
Sri Lanka Seals Debt Deal With China, Others After Crash
By Amal Jayasinghe Sri Lanka said on Wednesday it had clinched a restructuring deal with key bilateral lender China and other nations, covering up to $10 billion in debt. This is a critical step towards recovery after the 2022 financial crash.
Cash-Strapped Sri Lanka Set to Sign Key Debt Deals With China and Other Lenders
Sri Lanka has finalized long-delayed debt deals with its bilateral lenders, including China, to meet a key condition of an IMF bailout, the government said Tuesday. A treasury delegation is on its way to France to sign agreements with creditors on ...