Sri Lanka Financial News

candidates for the Sri Lankan presidential election would cause no expenditure issues, a minister said on Sunday. Finance State Minister Ranjith Siyambalapitiya said that the expenditure estimate for the election has not yet exceeded the Rs 10 billion limit. «If the number of candidates becomes too large for the ballot paper, an extension may be needed. This could lead to an increase in the number of ballot boxes and an additional cost of about Rs 100 million per candidate. However, preparations are being made to fund the submitted estimates,» he said. «The Election Commission noted that Rs 10 billion has been allocated for the election. There is still money left after the allocations for the submitted estimates. They added that aside from expenses such as printing, security and transport, some costs like officials' allowances, do not need to be spent immediately,» the minister said.

Indian Ocean Region (IOR), connecting the Pacific and Atlantic Oceans, is emerging as a critical axis of global trade, skilled young population and geo-economic prosperity. However, this region has witnessed significant transformations in recent years. For instance, China's expanding influence from Bab-el-Mandeb to Strait of Malacca is posing new and unique challenges each passing day. This continues to pose challenges to the Quadrilateral Security Dialogue (Quad) group, whose sole aim is to create a cooperative bulwark against Chinese expansionism and aggressiveness. China’s economic and military might have increased, so has its interest in securing its maritime trade routes and expanding its influence across the Indian Ocean Region (IOR). Here, we are reminded of the quote by Admiral Alfred T Mahan, «whoever controls the seas controls the world». Furthermore, China’s Belt and Road Initiative (BRI) has seen significant investments in port infrastructure and maritime logistics, exemplified by projects like the Djibouti Port in the Horn of Africa, Gwadar Port in Pakistan, and the Hambantota Port in Sri Lanka among others.

Mint explores the potential impact of regional instability on not just India’s trade but also internal security. Let’s begin with the political crisis and civil unrest in Bangladesh, with which India shares a 4,096 km border, its longest with any of its neighbours. Although Bangladesh has announced an interim government headed by Nobel Laureate Muhammad Yunus, the riots haven’t abated.

Piyush Goyal on Wednesday suggested the seven member countries of the BIMSTEC bloc to relook at the progress of Free Trade Agreement talks which are moving at a very slow pace. He said that the members can think of negotiating a preferential trade agreement instead of a full-fledged free trade pact. BIMSTEC stands for the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation. Its seven members are five South Asian countries (Bangladesh, Bhutan, Nepal, India, and Sri Lanka) and two Southeast Asian countries (Myanmar and Thailand). The bloc has been negotiating a proposed Free Trade Agreement (FTA) since 2004.

Digital payments major PhonePe is looking to set up retail payment operations in new geographies, including Southeast Asia and the Gulf region, two people aware of the company's plan told ET. Places like Singapore, the Gulf region and some countries in Europe are on the agenda, but the plan is still in the early stage and implementation will be done slowly, they said. “The plan is to apply for a payment licence in these geographies and set up retail payment operations there,” said one person, requesting not to be named. «The expertise that the team has built scaling up business in India will be handy there and there is a large opportunity as payments get digitised in these places.»

Mint goes into the details on the latest developments in Bangladesh and the implications for India. The protests were triggered by students seeking the dismantling of quota-based reservations in government jobs. The unrest snowballed after a court ruling in June reinstated reservations in government jobs.

India will take on Sri Lanka in the second ODI match of the series at the R. Premadasa Stadium on Sunday, the Men in Blue skipper Rohit Sharma looks forward to breaking multiple batting records. Here are the records Rohit Sharma can break in the 2nd ODI against Sri Lanka:

Sri Lanka at the R. Premadasa Stadium in Colombo, several strategic adjustments are on the agenda. The series, which has so far been marked by tight contests, will see the teams clash again on August 7 for the final ODI. The focus will be on India's approach to countering a sluggish pitch and Sri Lanka's arsenal of spin bowlers, who proved effective in the first ODI. For India, this means finding ways to counteract the spin bowlers and establishing solid batting partnerships. Sri Lanka, meanwhile, will look to build on their successful strategy and adjust to the absence of a key player. The outcome of this match will be pivotal in determining the series winner and will set the stage for an exciting final ODI on August 7.

India and Sri Lanka squads:India squad: Rohit Sharma (C), Shubman Gill (VC), Virat Kohli, KL Rahul (WK), Rishabh Pant (WK), Shreyas Iyer, Shivam Dube, Kuldeep Yadav, Mohd Siraj, Washington Sundar, Arshdeep Singh, Riyan Parag, Axar Patel, Khaleel Ahmed, Harshit Rana.Sri Lanka squad: Charith Asalanka (Captain), Pathum Nissanka, Avishka Fernando, Kusal Mendis, Sadeera Samarawickrama, Kamindu Mendis, Janith Liyanage, Nishan Madushka, Jeffrey Vandersay, Dunith Wellalage, Chamika Karunaratne, Maheesh Theekshana, Akila Dananjaya, Dilshan Madushanka, Matheesha Pathirana, Asitha Fernando.India vs Sri Lanka Live Score: The 2nd ODI match will be played on August 4 whereas the match is scheduled to start at 2:30 PM (India time). Sony Sports Network will broadcast it live on TV.

Indian submarine INS Shalki is on a two-day visit to Sri Lanka in reflection of growing maritime security cooperation between the two countries. The Shishumar class diesel-electric submarine arrived in Colombo on August 2, the Indian Navy said on Saturday. India sends submarines to a handful of countries with whom it has close defence and strategic ties. The Indian submarine's visit to Colombo comes against the backdrop of China's persistent attempts to enhance its strategic and military influence over the island nation.

mortal remains of a fisherman who died at sea to the Indian Navy near the International Maritime Boundary Line (IMBL) in the wee hours on Saturday, an official release here said. Indian Navy ship, INS Bitra, which was on deployment off Rameshwaram, coordinated with the Sri Lankan Navy ship and received the fishermen and the dead body at sea at about 1 am. The Indian Navy ship then proceeded to Rameshwaram, where the Navy Officer from the Naval Detachment coordinated with marine police and Tamil Nadu Fisheries department in transferring the mortal remains and the fishermen, at around 3 am, the release said. On August 1, a fisherman from Tamil Nadu's Rameswaram reportedly died and another went missing when the boat in which they were fishing in the mid-sea capsized after colliding with the Sri Lankan Navy ship.

Gautam Gambhir praised India for pulling off a tenacious Super Over win in the low-scoring third T20I against Sri Lanka for a series whitewash, but called for consistent improvement on pitches assisting sharp turn. In a contest delayed by an hour due to rain here on Tuesday, India struggled against both spin and pace on a fresh pitch to make a mere 137/9.

India vs Sri Lanka Live Score, 3rd T20I: The grounds at Pallekele International Cricket Stadium is set to witness the third match between India and Sri Lanka, of the T20I series. Chasing a target of 78 runs, in 8 overs, India had won the second T20 match.

Suryakumar Yadav, whose captaincy skills were on display during the first T20I against Sri Lanka, stated that he wants to classify himself as a leader and not as a captain.

India vs Sri Lanka Live Score, 2nd T20I: Suryakumar Yadav's India take on Sri Lanka at the Pallekele International Cricket Stadium in Kandy today. After securing a win in the first T20I, Surya would be looking for his maiden T20 win as skipper of Team India. Sri Lanka, on the other hand, will be looking to keep the series alive with a strong performance in the second T20.There were many positives for India in the first T20I, including the form of skipper Surya, Rishabh Pant, Yashasvi Jaiswal and Shubman Gill.

India vs Sri Lanka Live Score, 1st T20I: New India T20 captain Surykumar Yadav will take charge of the 3 match T20 series against Sri Lanka starting today. Notably, Surya has big shoes to fill in leading the world champions and taking over the charge of team after retirement of skipper Rohit Sharma.

Team India prepares to kickstart a new era under the head coach Gautam Gambhir, former Indian coach Rahul Dravid, who vacated the job after a dream run at ICC T20 World Cup last month, had a wholesome message for his successor, lauding him for his passion for the sport and making him aware of the challenges he could encounter as a coach.

Ravi Shastri backed newly-appointed T20I captain Suryakumar Yadav to do well for the team and pointed out one major area that he must work on to earn success as a skipper.

Sri Lanka will hold a presidential election on Sept. 21 that will likely be a test of confidence in President Ranil Wickremesinghe’s efforts to resolve the country’s worst economic crisis

fire that broke out on July 19 on a merchant navy ship off the Karwar coast has been doused and efforts are underway to ensure the affected vessel remains in deep sea considering the grave threat posed to the coastline, the Coast Guard said on Tuesday. «The vessel is presently 13 nautical miles west of New Mangalore and heading towards open sea,» the ICG stated in a release.