SL says ready for BRI second phase; China keen on extending CMEC

Sri Lanka has conveyed its preparedness for the second phase of the Belt and Road Initiative, with China expressing a keen interest in extending the China-Myanmar Economic Corridor (CMEC) to include Sri Lanka.

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Public Security minister used shell companies to own London flats

Colombo, Dec 15 - Sri Lanka’s public security minister, Tiran Alles, is the first sitting Sri Lankan minister to be identified in the International Consortium of Investigative Journalists’ Pandora Papers data trove as having offshore holdings. An ICIJ analysis of the leaked records and U.K.’s public property register shows that Alles, a media tycoon and politician, owns two British Virgin Islands companies that hold properties in London. The Pandora Papers is a trove of 11.9 million leaked documents obtained by ICIJ that were at the core of a 2021 global investigation exposing the financial deals and hidden assets of politicians, celebrities, business people and criminals in more than 200 countries. The files came from 14 offshore service providers that specialized in setting up shell companies and trusts in tax havens and secrecy jurisdictions. ICIJ’s analysis shows that Alles’ Brompton Properties Ltd. owns a flat in an affluent area of London that was purchased for about $960,000 ...

No government can deviate from current IMF path: CB Governor

By Nishel Fernando Colombo, Dec 30 (Daily Mirror) - Central Bank Governor Dr. Nandalal Weerasinghe said yesterday any government could renegotiate the programme with the International Monetary Fund (IMF) but it would be required to follow the path chosen currently to get international support. Addressing a press conference, he said if the chosen path is broken, no support will be forthcoming internationally. The IMF programme began on September 1, last year. After disbursing the first tranche, it’s again negotiated what our commitments are before disbursing the next tranche. So, it will be a continuous process of renegotiation to change policies in a timely manner, whatever the government is in power for the next four years. There are no restrictions for that. But, the key element is we need to move forward with the programme in order to obtain international support,” he said. He said the foreign governments and other commercial entities are extending the debt relief only on th...

SriLankan Airlines issues apology for travel disruptions

Colombo, Dec.24 (Daily Mirror) - SriLankan Airlines today extended apologies to customers affected by recent travel disruptions involving a series of cancellations and delays. The airline faced challenges as two Airbus A330 aircraft were grounded for several days during this busy period. One aircraft required an extended check, with a part replacement delayed due to a global supply shortage. The other experienced a burst tire incident in Paris. Simultaneously, delays in receiving two spare engines and a newly leased A320 aircraft further strained the operational fleet, leading to unavoidable flight cancellations and delays. SriLankan Airlines acknowledges the inconvenience caused to passengers during the festive season and expresses regret for any disruption to travel plans. The airline said they are working tirelessly to expedite travel arrangements for affected passengers. Looking ahead, significant improvements are expected in the coming days. The recently leas...

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