IRS |Institute of Regional Studies

Islamabad

News Updates

25th May - 31st May
  • SL is becoming an active and important player in Indo-Pacific region - Australian Professor Prof. Rory Medcalf, the Head of the Australian National University’s National Security College shared these remarks in an interview with Daily Mirror.(Daily Mirror, May 31, 2018)
  • SL contracts world’s largest oilfield services firm to look for hydrocarbon potential. Petroleum Resources Development Minister Arjuna Ranatunga signed an agreement on behalf of the Government of Sri Lanka (GOSL) with Eastern Echo Holdings PLC, a subsidiary of US-based major oilfield services company Schulmberger, giving a new boost for offshore exploration of Sri Lanka’s hydrocarbon potential. (Daily Mirror, May 31, 2018)
  • US pullout from Iran nuclear deal likely to impact Lankan tea exports. The US’ decision to unilaterally abandon the nuclear deal with Iran is likely to put a damper on Sri Lankan tea exports, a leading tea broking house in the country said. (Daily Mirror, May 31, 2018)
  • Lankan banks sit on Rs.19bn capital hole as sector braces for BASEL III. The Sri Lankan banks satisfy many of the key matrices such as growth, profits, efficiency and asset quality against most regional peers but the sector is in deep thirst for fresh capital as the banks brace for full implementation of BASEL III as early as in few months. (Daily Mirror, May 31, 2018)
19th May - 25th May
  • Allegations on Chinese militarization in SL a fabrication: China
    Chinese Ambassador Cheng Xueyuan said the allegations about Chinese militarization in Sri Lanka were made by some people with ulterior motives, and otherwise, there was no element of truth in them. (Daily Mirror, May 25, 2018)
  • Britain’s Foreign Office had destroyed almost 200 files on Sri Lanka dating from the start of the LTTE uprising during which MI5 (Military Intelligence, Section 5) and the SAS (Special Air Service) secretly advised the country’s security forces, the Guardian reported on May 23.(Daily Mirror, May 24, 2018)
12th May - 18th May
  • Sri Lanka open for investors from all Asian countries: Malik Balancing diplomatic relations and being open to all countries for investment has been a key achievement of the current government, remarked Development Strategies and International Trade Minister Malik Samarawickrama at a forum in Colombo. (Daily Mirror, May 18, 2018)
  • The Government’s debt had increased by Rs. 836 bn following the depreciation of the Sri Lankan Rupee against the US Dollar during the past 40 months, Pivithuru Hela Urumaya (PHU) leader and MP Udaya Gammanpila said.
  • US economic boom adversely affects SL: PM
    Prime Minister Ranil Wickremesinghe said the economic growth in the US has had a negative impact on Sri Lanka and other developing nations. He said the US dollar had picked up with the economy boom in the USA and that had resulted in the devaluation of currencies of countries such as Sri Lanka and Argentina.(Daily Mirror, May 17, 2018)
  • China approved a $ 1 billion loan on May 14 to revive a long-delayed expressway in central Sri Lanka after Prime Minister Ranil Wickremesinghe met the Chinese Ambassador. The Ambassador had informed the Prime Minister that Beijing had decided to approve the loan that will be provided through the Export-Import Bank of China, which can be considered as a part of its regional Belt and Road initiative. (Daily FT, May 18, 2018)
5th May - 11th May
  • Sri Lanka has told China that unfounded claims are being made on some of the projects funded by China in Sri Lanka, with ulterior motives. Speaker Karu Jayasuriya said that there are extremists in all countries and those making unfounded speculations on China funded projects in Sri Lanka may have their own ulterior motives.(The Sunday Leader, May 9, 2018)
Credit: Nabila Jaffer

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