China's loans to Sri Lanka were made based on consensus through talks between the two countries and at Sri Lanka's request, the Chinese Foreign Ministry said on Monday, after Sri Lanka's foreign minister expressed concern about the loans.
Mahinda Rajapaksa
Breaking News
Australian gaming mogul James Packer’s Crown Resorts Ltd. (CWN.AX) has scrapped a proposed $400 million luxury hotel and resort development in Sri Lanka after Colombo's new government withdrew approvals for casinos.
Sri Lanka's new government said on Thursday it might renegotiate a $1.5 billion "port city" deal with China Communications Construction Co Ltd (601800.SS), softening its pre-election threat to scrap the project.
When Sri Lanka unexpectedly turfed out President Mahinda Rajapaksa in an election this month, it was the biggest setback in decades for China's expansion into South Asia - and a remarkable diplomatic victory for India.
Leading British lawmakers urged the European Union on Thursday to remove preferential trade tariffs from Sri Lanka if it fails to address human rights concerns.
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