Sri Lanka Financial News

Sri Lanka's president arrives in India on Thursday for his first visit to the regional powerhouse, with concerns mounting in New Delhi over China's increasing influence in the strategically placed but financially bankrupt island. New Sri Lankan leaders usually travel to India within a few weeks of taking office, but Ranil Wickremesinghe's trip comes exactly a year after he became president following the toppling of his predecessor at the height of an unprecedented economic crisis.

Chinese Foreign Minister Qin Gang has remained wholly out of the public eye for the past month, sparking intense debate about his whereabouts. His last public appearance was on June 25 for a meeting with Sri Lankan Foreign Minister Ali Sabry in Beijing. While officials indicate that he missed the recent ASEAN Foreign Ministers’ meeting due to health reasons people have remained skeptical.

S Jaishankar on Monday met his counterparts from Nepal and Bangladesh here and agreed to work closely to implement the agenda of cooperation set out by the leaderships and exchanged views on regional issues. Jaishankar is here in the capital of Thailand and participated in the BIMSTEC retreat. The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) is a regional grouping that comprises India, Sri Lanka, Bangladesh, Myanmar, Thailand, Nepal and Bhutan.

Chennai and Sri Lanka's Jaffna city have commenced with India's Alliance Air increasing the frequency from the earlier four-times-a-week service, a move that is set to further boost travel and trade between the two countries. The move to increase the frequency of flights between Chennai and the Tamil-dominated Jaffna city was announced earlier this month by Union Minister of Civil Aviation Jyotiraditya Scindia during the Travel Agents Association of India (TAAI) annual convention hosted in Colombo. The daily commercial flights between Chennai and the Jaffna International Airport (JIA) in the north began operations on Sunday, aviation officials said. Chief Airport Manager, Aruna Rajapaksa, confirmed the inaugural flight's arrival in Jaffna at 11:30 am, marking the initiation of daily flights along this route, the NewsFirst news portal reported on Sunday. «Alliance Air is set to commence daily scheduled operations between Jaffna and Chennai, starting from 16th July 2023. Initially operating with their ATR72 aircraft, which can comfortably carry 70 passengers», a press release by Sri Lanka's Airport and Aviation Services said. Alliance Air, which initially aimed for four flights per week starting from December 15, 2022, decided to upgrade the frequency of its operations to a daily flight service due to the growing demand for flights to the JIA.

Gandhinagar: Most G20 member countries believe that a one-size-fits-all approach to debt restructuring may not be feasible for all vulnerable nations, considering the differing circumstances of low- and middle-income countries, a person with direct knowledge of the discussions said on Sunday. “There’s a need for distinct debt restructuring strategy for every low- and middle- income country," the person said seeking anonymity. In June, Zambia struck a deal to restructure a $6.3 billion debt owed to various governments, including China, raising hopes of similar deals for other vulnerable nations awaiting relief for several years.

Finland, the country I have been living in off and on for the last six years, is ranked No. 1. The word ‘serendipity’ was coined by Horace Walpole in the 1750s after he read a fairy tale, ‘The Three Princes of Serendip,’ itself an adaptation of Amir Khusro’s 14th century Persian poem, ‘Hasht-Bihisht’ (The Eight Paradises), Serendip being the archaic name for Sri Lanka.

NDTV Sports quoted Misbah a saying at a function on Friday. ALSO READ: Pakistan whining continues, now demands more than 4 matches in Asia Cup 2023 "It is a great injustice to the fans who follow Pakistan and Indian cricket a lot," added the batter Earlier, PCB had said that Pakistan's participation in the World Cup is subject to government clearance citing tense relations between the two countries. Before that, the BCCI secretary made it clear that India will not play its Asia Cup matches in Pakistan citing geopolitical tensions.

weather forecast for venues in Sri Lanka which is to host nine games of the Asia Cup, Pakistan should be allowed to host more than four games at home," said a PCB source. The Asian Cricket Council (ACC) is convening to conclude the arrangements for the Asia Cup timetable.

Sri Lanka was in contention for the World Test Championship final until March. That prospect has whetted its appetite to get there in the new cycle.The campaign starts on Sunday, when Sri Lanka plays Pakistan in Galle in the first of two tests.

After being selected for the upcoming Hangzhou Asian Games in China, Indian batter Rinku Singh was over the moon. The team, which would be led by Ruturaj Gaikwad, will not have senior players as they would be busy preparing for the upcoming ODI World Cup.

Ranil Wickremesinghe has said, days ahead of his first official visit to New Delhi. Wickremesinghe, also the cash-strapped country's finance minister, made this remark while addressing the Indian CEO Forum here this week. «Just as East Asia, including countries like Japan, Korea and China, witnessed significant growth 75 years ago, it is now India's turn, along with the Indian Ocean region,» Wickremesinghe said.

Mumbai, Thane, Palghar, Raigarh, and others. It has predicted moderate to heavy rainfall for the next five days in Mumbai, Sindhudurg, Dhule, Ratnagiri, etc.  According to the notice issued by Regional Meteorological Centre, heavy rainfall is expected at isolated places in Mumbai for the next five days. Heavy to very heavy rainfall is also forecasted at isolated places in Raigad and Ratnagiri, ANI reported.  The weather office has also warned fishermen not to venture out in the sea for the next five days.

Ranil Wickremesinghe's India trip on July 21 could lead to new arrangements across several sectors including power and energy, agriculture and maritime issues. Wickremesinghe, on his maiden trip to India in his current capacity, will be accompanied by three of his top ministers.

Investors who stuck with bonds from countries that defaulted or are on the brink are betting the double-digit returns they’ve posted over the past month are just the start of a rally.

Wickremesinghe will embark on a two-day visit to India on July 21 during which he is expected to meet Prime Minister Narendra Modi, officials here said on Sunday. This will be Wickremesinghe's first visit to India since being appointed President of the cash-strapped country last year following the ouster of Gotabhaya Rajapaksa in a people's uprising in July.

Sri Lanka on Sunday marked the first anniversary of the historical people's uprising against the previous government's mismanagement of the country's economy which has seemingly ended the Rajapaksa family's hold over power. The radical Inter University Students Federation has called for protest action at universities today marking the anniversary. The uprising forced the then President Gotabaya Rajapaksa to flee to the Maldives as tens of thousands surrounded his official residence demanding his resignation as president for steering the country to its worst economic crisis.

India-Sri Lanka ties have strengthened the friendship and all-around cooperation between the two countries, according to the news agency PTI.  “We were the first creditor nation in January this year to convey the financing assurances needed to kick start the IMF process. India will continue to play a constructive role as a Co-Chair of the Creditors Committee along with Japan and the Paris Club," he said.

Sri Lanka's efforts for recovery from the worst economic crisis. Addressing the inauguration ceremony of the Construction, Power and Energy Expo 2023 in Colombo on Friday, India's Deputy High Commissioner Vinod K Jacob said that recent developments in India-Sri Lanka ties have strengthened the friendship and all-around cooperation between the two countries. «We were the first creditor nation in January this year to convey the financing assurances needed to kick start the IMF process. India will continue to play a constructive role as a Co-Chair of the Creditors Committee along with Japan and the Paris Club,» he said. India in January this year became the first country to hand over its letter of support for financing and debt restructuring of Sri Lanka to the International Monetary Fund (IMF). In May this year, 17 countries that have extended loans to Sri Lanka formed an official creditor committee' co-chaired by India, Japan, and France, to discuss Sri Lanka's request for debt treatment. Paris Club is a group of officials from major creditor countries whose role is to find coordinated and sustainable solutions to the payment difficulties experienced by debtor countries.

Hindustan Times quoted BCCI secretary Jay Shah as saying after the 19th Apex Council meeting. ALSO READ: India to send men and women cricket teams to Asian Games; choose from players not taking part in World Cup 2023 Earlier, the BCCI Apex Council approved on Friday that the IPL version of the much-talked about Impact Player Rule will be used in the Syed Mushtaq Ali T20 Trophy (SMAT) beginning 16 October. It us set to take place in Hangzhou, Chinna in September-October.

ALSO READ: India may permit Sri Lanka to repay debt over 12 years Abeywardena, while addressing the gala dinner reception hosted for delegates of the Indian Travel Congress on 7 July, said that India 'saved us' during the financial crisis, otherwise, there would have been 'another bloodbath for all of us'. He thanked India for the help extended to the cash-strapped nation and recalled the civilizational ties and similarities between the two countries and their cultures.

ESPNCricinfo, the panel includes interior minister Rana Sanaullah and Law and justice minister Azam Nazeer Tarar. The heads of intelligence agencies and representatives of all political parties have also found a place in the committee, making the scope for wide consultations. The report adds that the reason behind keeping such a large panel is likely to be a buffer against a change in government as the country will be soon headed towards the general elections.