Tag: Sri Lanka
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Sri Lanka Leases White Elephant Airport Built With Chinese Loans
Sri Lanka said Friday it had leased a white elephant international airport built with Chinese loans to a foreign joint venture as the island nation's bankrupt government seeks to offload loss-making assets. The small airport near a wildlife sanctuary on the ...
IMF Introduces New Rules to Speed Up Debt Restructurings and Blunt Chinese Delays
The International Monetary Fund approved a new set of rules to speed up the debt restructuring process in developing countries and reduce delays in negotiating settlements with bilateral creditors that have been widely blamed on China. The new rules specifically focus on ...
WEEK IN REVIEW: Apple Assembled $14 Billion Worth of iPhones in India in Its Last Fiscal Year
Apple assembled $14 billion worth of iPhones in India in its last fiscal year, providing more evidence of the electronics giant's rapid diversification of its supply chain beyond China. The company also hopes improved sales in the Indian market will help offset slumping demand for Apple products in ...
WEEK IN REVIEW: Indonesia’s President-Elect Prabowo Subianto Met With Chinese President Xi Jinping in Beijing
Indonesia's President-elect Prabowo Subianto met with Chinese President Xi Jinping on Monday in Beijing and promised his new government will maintain close ties with Beijing. Prabowo is now in Tokyo for two days where he will deliver a similar message to Prime Minister Fumio Kishida. (ASSOCIATED ...
Leaders Arrive in Beijing for What’s Going to be a Frenetic Week of Global South Diplomacy
Visiting heads of state, foreign ministers, and party leaders from Asia, the South Pacific, and the Caribbean arrived in Beijing this weekend for what's going to be a very busy week ahead for Chinese diplomacy specifically focused on small and mid-sized countries in the Global South.
Sri Lanka President Hints at Emerging Chinese Logistics Network Linking Hambantota With Yangon and Chongqing
Discussions are reportedly underway among Sri Lanka, China, and Myanmar to link key ports and industrial hubs in those countries into a new logistics network, according to recent comments by Sri Lankan President Ranil Wickremesinghe. The president said at a cabinet ...
WEEK IN REVIEW: Sino-Australian Joint Venture to Develop Africa’s Largest Mine in Guinea Edges Closer
The Sino-Australian joint venture to develop Africa's largest mine in Guinea edged closer to reality on Wednesday when Rio Tinto's board approved $6.2 billion for the project. Next, a consortium of Chinese partners must get their boards to do the same to build the mine, rail, and port ...
Concern Over China’s Growing Naval Presence Dominates Australian Indian Ocean Gathering
The foreign ministers from Australia and India both issued veiled critiques of China's military build-up in the Indian Ocean Region (IOR) at a conference hosted by both countries in the western Australian city of Perth on Friday. The gathering brought together ...
China’s Maritime Research Has Military Role: Report
The government of Sri Lanka announced in early January that it is imposing a one-year ban on Chinese research vessels docking at its ports. Last year, Colombo got into a spat with India about allowing a Chinese ship to dock amid Indian fears about military surveillance.
Ethiopia To Default on Bond Payment
Ethiopia is set to join Zambia, Sri Lanka, and Ghana on the debt chopping block following the announcement that it can’t pay a $33 million bond coupon due on Monday. The country will officially be in default once a 14-day grace period elapses. ...
WEEK IN REVIEW: Vietnamese Officials Preparing for Chinese President Xi Jinping Visit Next Week
Vietnamese officials are preparing for Chinese President Xi Jinping to visit Hanoi next Tuesday and Wednesday, well-placed sourced told Bloomberg. This will be Xi's first trip to Vietnam since 2017 and follows Hanoi's recent upgrade of diplomatic ties with both the U.S. and Japan. (BLOOMBERG) ...
What the U.S. Needs to Do to Better Compete With China in Development Finance
There's a growing sense of anxiety in Washington over what the U.S. can do to better compete with China to finance infrastructure in developing countries around the world. For much of the past three years, the Biden administration has made the ...