Sri Lanka

The Adani group has said it would finance the Colombo West International Terminal redevelopment project through its internal resources and capital management plan

Billionaire Gautam Adani-led conglomerate on Tuesday said it will use its own resources to fund a Sri Lankan port project and not seek US funding. In an exchange filing late on Tuesday, Adani Ports and SEZ Ltd said the project "is on track for commissioning by early next year" and added that the company will fund the ongoing project through "internal accruals", aligning with its capital management strategy. The company said it has withdrawn its 2023 "request for financing from the US International Development Finance Corporation (DFC)". The US International Development Finance Corp, in November last year, agreed to provide a USD 553 million loan to support the development, construction, and operation of a deep-water container terminal called the Colombo West International Terminal (CWIT) at the Port of Colombo in Sri Lanka. The CWIT is being developed by a consortium of Adani Ports, Sri Lankan conglomerate John Keells Holdings Plc, and the Sri Lanka Ports Authority (SLPA). DFC ...

Fishermen who went to sea in 324 boats from Mandapam north coast of Ramanathapuram district on Dec 7 were fishing near Delft Island in Palk Bay Sea area when Sri Lanka Navy arrived and seized 2 boats

Biden Administration's point person for South and Central Asia will visit India, Sri Lanka and Nepal this week, the first after the November 5 presidential elections. The trip by the Assistant Secretary of State for the Bureau of South and Central Asian Affairs Donald Lu will be on a visit to the three countries from December 3 to December 10, the State Department said. The visit aims at strengthening cooperation with key partners in South Asia to promote regional prosperity and security, it said. In New Delhi, Lu will support US-India collaboration in the Indo-Pacific and beyond. He will join Assistant Secretary of State for the Bureau of East Asian and Pacific Affairs Daniel Kritenbrink to lead US participation in the US-India East Asia Consultations. The Consultations, along with separate meetings with senior Indian officials, will provide an opportunity to exchange perspectives on global and regional issues, an official release said. On December 5, Lu will travel to Colombo t

In Sri Lanka, 16 people were killed, with heavy rains affecting a total of 138,944 families, the latest data from the Disaster Management Centre in Colombo showed

Sri Lankan authorities have announced an investigation into "false media propaganda" aimed at discrediting the government for permitting commemorative events in the Northern Province for those who lost their lives during the decades-long separatist conflict with the LTTE. The week-long events commemorating 'Maaveerar Naal' or Great Heroes Day are observed from November 27 by some Tamil political groups and the relatives of those killed in the conflict. We were not opposed to the relatives celebrating their dead," Ananda Wijepala, the public security minister told reporters. However there is no room for celebrating the LTTE who remains a banned terrorist organisation," Wijepala stressed. He said the LTTE remains a banned organisation as per the government gazette of 29 August 2011. Wijepala said an investigation would start on false media propaganda carried out to discredit the government for allowing LTTE celebrations in the north and east. Slain LTTE supremo Velupillai Prabakara

Eight people, including six children returning from school, have gone missing in Sri Lanka when the farm tractor they were traveling on was swept away by floods triggered by heavy rains, police said Wednesday. Army and navy troops were deployed to rescue victims and provide food and other essentials to those affected. Sri Lanka has experienced heavy downpours and strong winds over the past two days that have flooded homes, fields and roads and forced authorities to suspend train services in tea-growing mountain areas. In the worst incident, a farm tractor carrying 11 school children was swept away Tuesday evening in the eastern region of the country, police said. Five children were rescued while six other children along with the driver and another adult are still missing in the incident near the town of Karaitivu. A search operation is underway, police said in a statement. Separately, a woman died when a brick wall collapsed on her in the mountainous region of Badulla in the centr

Sri Lanka's new government on Tuesday announced that it has ratified the agreement for debt restructuring sealed in the previous regime for USD 14.2 billion compulsory to maintain debt sustainability by the IMF through an exchange of new bonds for the existing bonds. The development comes days after the National People's Power (NPP) government on Saturday got the International Monetary Fund (IMF) approval for a staff-level agreement to secure the fourth tranche of the nearly USD 3 billion bailout package, something that President Anura Kumara Dissanayake backed despite his pre-presidential election rhetoric to renegotiate with the global lender to water down tough conditions. The debt restructuring agreement was reached in the last week of the then President Ranil Wickremesinghe's regime in September, days before the presidential polls. A final consensus on restructuring debt by the members of the Official Credit Committee (OCC) of major bilateral creditors in June 2024. In ...

US International Development Finance Corp last November said it would provide $553 million in financing for the port terminal project in Colombo, the capital of Sri Lanka

Last November, the agency said it would provide $553 million in financing for the port terminal project in Colombo, the capital of Sri Lanka. The project is partly owned by India's Adani Group

Seeing India as a place that offers "enormous growth" opportunities, SriLankan Airlines aims to increase flights to the country as well as attract more tourists, including with the Ramayana Trail package, according to a top airline official. The Ramayana Trail will help people connect with 20 significant locations in Sri Lanka that are linked to the Ramayana story. SriLankan Airlines CEO Richard Nuttall said growth in the number of tourists from India has been stellar this year but still below the pre-Covid numbers. He was speaking at a function in the national capital for the launch of the Ramayana Trail package on Saturday evening. High Commissioner of Sri Lanka to India Kshenuka Senewiratne was also present. Till the end of October this year, around 20 per cent of the tourists who came to Sri Lanka were from India. "We have been looking at how to lift and rejuvenate tourism from India to Sri Lanka to the next level," he said while mentioning the Ramayana Trail and added that it

Cash-strapped Sri Lanka plunged into its worst financial crisis in more than seven decades in 2022 with a severe dollar shortage sending inflation soaring to 70 per cent, its currency to record lows

President Dissanayake, elected to the top office in September this year, is scheduled to visit India in mid-December

Sri Lankan President Anura Kumara Dissanayake, in his inaugural address to the newly convened parliament, on Thursday pledged to fulfil his pre-election promises by ensuring the supremacy of law and addressing past wrongdoings. Staying true to his National People's Power (NPP) party's commitment to austerity, Dissanayake made a modest ceremonial entry to parliament, foregoing the usual pomp of motorcycle outriders, motorcades, and military gun salutes. Clad in a simple white tunic, the 56-year-old President addressed the parliament from the Speaker's chair, marking the first session since his party's landslide victory. The NPP created history in the November 14 election by winning 159 seats in the 225-member assembly. This was the first time that a government had won two-thirds control or over 150 seats in a parliamentary election held since 1989. It is our duty to make everyone accountable and equal before the law," Dissanayake said, adding, We will deliver justice to everyone ...

Dissanayake, needed a clear majority to fulfil his promises and his National People's Power (NPP) coalition secured a two-thirds majority in the 225-member parliament, winning 159 seats, whereas

Sri Lankan President Anura Kumara Dissanayaka on Monday appointed a 21-member Cabinet in the new NPP government, keeping with his pre-election promise to streamline the governance system and ease the burden on taxpayers. The National People's Power (NPP) has been advocating a smaller government to reduce costs for the public. Since the NPP won the presidential election in September, the government functioned with just 3 ministers, including the President. As per the island nation's Constitution, there is a provision for appointing a 30-member Cabinet. Dissanayaka retained the finance and defence portfolios, while appointing 12 new parliament members to key positions and entrusting eight veteran members, who have served since 2000, with significant responsibilities. Among the fresh faces in the Cabinet are five academic professors. Prime Minister Harini Amarasuriya who holds the education portfolio and Saroja Savithri Paulraj who has the women's and child affairs portfolio are the

India has a role to play in its economic recovery

Sri Lankan President Anura Kumara Dissanayake will appoint a new Prime Minister and Cabinet on Monday after his National People's Power secured a record-breaking victory in the snap general election. The NPP on Friday swept the parliamentary elections by winning a two-thirds majority, and also dominating the Jaffna electoral district the heartland of the nation's Tamil minority. We will be appointing a Cabinet on Monday, limited to 25. It could be even less 23 or 24. There will be scientific allocation of subjects for the ministries," Tilwin Silva, the NPP's senior spokesman told reporters. According to Article 46 of the Constitution, the total number of Cabinet ministers is limited to 30. The number of deputy ministers shall not, in the aggregate, exceed 40. Silva said the deputy ministers' number could be higher. We may have to appoint extra deputy ministers to handle subjects of a bigger ministry," he said. The NPP has been advocating a smaller government to reduce costs for

The ruling National People's Power party led by President Anura Kumara Dissanayake is poised for a sweeping victory in the Sri Lankan parliamentary election held on Thursday. As of 11 pm local time, with partial results declared, the NPP has secured a substantial 70 per cent of the vote. The main opposition, Samagi Jana Balawegaya (SJB), and the National Democratic Front (NDF), backed by former president Ranil Wickremesinghe, have been reduced to just 11 and 5 per cent of the vote, respectively. In the only polling division result announced so far, the NPP won decisively in the southern province capital of Galle with over 70 per cent of the vote. Analysts note that the NPP has increased its vote share compared to the September presidential election. If this trend continues, the party will surpass the 150-seat mark, achieving an absolute majority in the 225-member parliament. Thursday's election was the first major test for NPP. The snap parliamentary polls were the first after the

Sri Lanka's National People's Power, led by President Anura Kumara Dissanayake, has secured a parliamentary majority, as per official results announced by the country's elections commission