The eight-year-old Hambantota port — with almost no container traffic and trampled fences that elephants traverse with ease — has become a prime example of what can go wrong for countries involved in President Xi Jinping’s “Belt and Road” trade and infrastructure initiative. Sri Lanka borrowed heavily …
This photograph taken on Feb. 10, 2015, shows a general view of the port facility at Hambantota. On Monday, a Sri Lankan military official repeated at a U.S. defense forum that his government’s assurances the port would not be used by the Chinese military. AFP PHOTO / LAKRUWAN …
COLOMBO, April 9 (Xinhua) — Sri Lanka and China in the past five years have made significant progress in jointly building the Belt and Road Initiative in the island country through which the country’s economy has greatly benefited, said Chinese Ambassador to Sri Lanka. Chinese Ambassador Cheng …
Many in Sri Lanka are voicing dissent – questioning the wisdom of handing over “national assets” of the island nation to China and India in the guise of regional economic development. There has been stinging opposition to the China-sponsored constructi…
ECONOMYNEXT – State-run People’s Bank has agreed to provide 26.1 million dollars of counterpart funds for a 174 million dollar reservoir in Thalpitigala built across Sri Lanka’s Uma Oya, the government said. The Export Import Bank of China will provide 85 percent of the funds. The cabinet of minister …
The Chinese Ambassador to Sri Lanka Cheng Xueyuan had given this assurance when he met the Secretary General of the National Economic Council (NEC) and Chief Economist Professor Lalith Samarakoon, the Chinese Embassy in Colombo said. Ambassador Cheng s…
New Delhi has dragged out trade deals before and Sri Lanka’s population is wary of Asia’s two most populous nations swamping this country of around 21 million people — roughly the population of New Delhi — with goods, services and professionals. Still, a Sri Lankan finance ministry official told …
President Maithripala Sirisena, in a message to Chinese President Xi Jinping, said that relations between Sri Lanka and China have documented historical legacy and both countries have been able to consolidate and strengthen those ensuring tangible bene…
Mar 15, Colombo: Sri Lankan Prime Minister Ranil Wickremesinghe on Thursday has assured China of greater economic and trade cooperation and affirmed to tackle the practical difficulties of China-Sri Lanka mega-projects cooperation. The Chinese Embassy …
The teahouse opened two years before Sri Lanka, formerly Ceylon, achieved independence as an autonomous territory of the British Commonwealth. "My father started this tea shop in 1946, but we have to sell this [site] as the government plans to sel…