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☆ The hottest hotel rooms right now are luxury tents and RVs. They can cost more than $2,700 a night.
▼ + stars: | 2024-04-24 | by ( Brittany Chang | ) www.businessinsider.com time to read: +6 min

Both are adding glamping resorts to their booking channels, where their members can earn and redeem points. Interest in high-end camping has remained strong since its boom during the COVID-19 pandemic. No word yet on whether it will include the high-end hotel brand's 12 other luxury camping resorts. But the addition of these glamping resorts to its booking channels isn't Hyatt's first venture into glamping. Alongside the Caribbean property's existing traditional hotel, Hyatt plans to deploy modular tiny-home-sized hotel room units directly on the beach.

Persons: —, Getaway's, AutoCamp, Airstream, Brittany Chang, Hilton, Jason Brannan, It's, Hilton hasn't, they'll, Smith's, Hyatt, Smith, Dunton , Colorado —, KOA Organizations: Hilton, Hyatt, Service, Business Locations: America, Sri Lanka's Yala, Dunton , Colorado, Sri Lanka, glamping, California, Punta Mita, Mexico

☆ Sri Lanka targets debt restructuring framework in first 6 months of 2024, says president
▼ + stars: | 2024-02-07 | by ( ) www.cnbc.com time to read: +1 min

Anti-government protesters gather to demonstrate outside the president's office in Colombo, Sri Lanka, on Wednesday, July 13, 2022. Sri Lanka expects to implement a debt restructuring framework within the first six months of 2024, the country's president said on Wednesday, expressing confidence that the nation was recovering from its worst financial crisis in decades. Sri Lanka's economy is estimated by the World Bank to have contracted by 3.8% last year but is expected to grow by 1.7% in 2024. Sri Lanka's central bank has projected a more optimistic growth of 3% for this year. There are no short-term solutions," he said, adding that Sri Lanka's overall debt at the end of September was at $91 billion.

Persons: Ranil Wickremesinghe Organizations: International Monetary Fund, World Bank Locations: Colombo, Sri Lanka, Sri Lanka's

☆ Plunging 2,000 Feet Underground for a Critical Mineral — Graphite
▼ + stars: | 2024-02-02 | by ( Selima Hussain | Karim Islam | ) www.businessinsider.com time to read: 1 min

One of Sri Lanka's oldest mines holds valuable deposits of graphite, a critical mineral that makes up the largest part of EV batteries. But even though the country produces the world's purest form, experts say Sri Lanka isn't a global competitor. So what can the country do to meet the world's skyrocketing demand? This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now.

Organizations: Sri, EV, Business Locations: Sri Lanka's, Sri Lanka

☆ Sri Lanka Votes on New Law to Regulate Online Content
▼ + stars: | 2024-01-24 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +2 min

By Uditha JayasingheCOLOMBO (Reuters) - Sri Lanka's lawmakers are set to vote on a social media regulation bill on Wednesday which opposition politicians and activists allege will muzzle free speech. The Online Safety Bill proposes jail terms for content that a five-member commission considers illegal and make social media platforms such as Google, Facebook and X, formerly known as Twitter, liable for those posted on their platforms. President Ranil Wickremesinghe's government says the bill is aimed at battling cyber crimes including child abuse, data theft and online fraud. This is why we are bringing this law," Public Security Minister Tiran Alles said on Tuesday while introducing the bill. "We unequivocally stand by our position that the Online Safety Bill, in its current form, is unworkable and would undermine potential growth and foreign direct investment into Sri Lanka's digital economy," the AIC said in a statement.

Persons: Uditha Jayasinghe, Bill, Ranil Wickremesinghe's, Wickremesinghe, Tiran Alles, Eran Wickramaratne, Jana Balawegaya, Sudipto Ganguly, Raju Gopalakrishnan Organizations: Reuters, Google, Facebook, Twitter, Public, Asian Internet Coalition, AIC, Yahoo, Sri, Wednesday Locations: Uditha Jayasinghe COLOMBO, Sri Lanka, Lanka's

☆ Sri Lanka to Continue Drug Crackdown Despite Rights Group Concerns - Minister
▼ + stars: | 2024-01-18 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +2 min

By Uditha JayasingheCOLOMBO (Reuters) - Sri Lanka vowed to continue an anti-narcotics campaign that has seen more than 35,000 people detained over the last few weeks despite concerns raised by multiple rights groups, top officials said on Thursday. Sri Lankan police have detained 38,525 people since the operation - code-named "Yuktiya" or "Justice" - began in December. Thirty-three rights organisations including Amnesty International, Human Rights Watch, and International Commission of Jurists, this week expressed concerns over what they call "drastic intensification" of anti-narcotics operations in Sri Lanka leading to significant human rights violations. There is no reasonable suspicion, the kind of people arrested have a lower marginalised economic status," said Thiyagi Ruwanpathirana, a researcher for Amnesty International Sri Lanka. Sri Lanka had over 97,000 drug-related arrests in 2020 with 53% of arrests for heroin and 42% for cannabis including possession offences, according to latest data from state-run National Dangerous Drugs Control Board.

Persons: Uditha Jayasinghe, Tiran, Thiyagi Ruwanpathirana, Ruwanpathirana, Deshabandu Tennekoon, Sri, Toby Chopra Organizations: Reuters, Sri, Public, Amnesty, Human Rights Watch, International Commission of Jurists, Drugs, Board Locations: Uditha Jayasinghe COLOMBO, Sri Lanka, Sri Lanka's

☆ IMF says Sri Lanka debt deal could help board clear first bailout review
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +2 min

The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. The deal comes about a month after Sri Lanka's agreement with the Export-Import Bank of China covering about $4.2 billion of outstanding debt, while clearing the IMF review could trigger a second tranche of about $334 million in funds. "These understandings pave the way for the IMF Executive Board to consider completion of the first review of Sri Lanka's four-year Extended Fund Facility Arrangement," Peter Breuer, IMF's mission chief for Sri Lanka, said in a statement. "We look forward to the Executive Board taking up this review by mid-December and the continuation of our productive collaboration with Sri Lanka in the period ahead." Sri Lanka plunged into its worst financial crisis in seven decades last year after its foreign exchange reserves dwindled to record lows.

Persons: Yuri Gripas, Lanka's, Peter Breuer, IMF's, Nandalal Weerasinghe, Uditha Jayasinghe, Sudipto Ganguly, Clarence Fernandez, Steohen Coates Organizations: Monetary Fund, REUTERS, Rights, International Monetary Fund, Sri, Export, Import Bank of, IMF, Asian Development Bank, World Bank, Thomson Locations: Washington , U.S, Import Bank of China, Sri Lanka's, Sri Lanka

☆ Sri Lanka reaches debt restructuring deal with creditor nations - government source
▼ + stars: | 2023-11-29 | by ( Uditha Jayasinghe | ) www.reuters.com time to read: +2 min

"Sri Lanka has been informed of an agreement," the source, who did not want to be identified, said. The Sri Lanka president's office and the finance ministry did not immediately respond to requests for comment. Japan co-chairs the official creditor committee, together with France and India. China is Sri Lanka's largest bilateral creditor and is an observer in the group, steering clear of joining the group as a formal member. The ADB's funds are part of a $350 million special policy-based loan that was approved in May to support Sri Lanka.

Persons: Nandalal Weerasinghe, Takafumi Kadono, Sudipto Ganguly, Jacqueline Wong, Kim Coghill Organizations: Reuters, Export, Import Bank of China, International Monetary Fund, Asian Development Bank, World Bank, ADB, Thomson Locations: COLOMBO, Sri Lanka, Japan, France, India, China, Sri Lanka's, Colombo, Sri

☆ Creditor Nations Likely to Agree on Sri Lanka Debt Restructuring - Report
▼ + stars: | 2023-11-28 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +1 min

TOKYO (Reuters) - A group of Sri Lanka's creditor nations are likely to reach an agreement on debt relief and an extension of repayment deadlines for the South Asian nation, Japan's Jiji News reported on Wednesday, without naming a source or giving any details. China is Sri Lanka's largest bilateral creditor and has steered clear of joining this group as a formal member. Mired in its worst financial crisis in decades, Sri Lanka has been trying to reach restructuring deals with creditors since last year. The agreement with the group of creditor nations came about a month after the debt-ridden island nation reached a deal with the Export-Import Bank of China covering about $4.2 billion of outstanding debt. In so doing, Colombo is also seeking to receive more clarity on its debt restructuring talks with key bilateral creditors.

Persons: Tetsushi Kajimoto, Chang, Ran Kim, Miral Organizations: South, Jiji, Export, Import Bank of, International Monetary Fund Locations: TOKYO, Japan, France, India, China, Sri Lanka's, Sri Lanka, Import Bank of China, Colombo

REUTERS/Chris Helgren/File Photo Acquire Licensing RightsCOLOMBO, Nov 25 (Reuters) - Sri Lanka will likely approve on Monday a proposal from Chinese state refiner Sinopec to build a $4.5-billion-dollar refinery, the South Asian island nation's energy minister said on Saturday. Sri Lanka, trying to recover from its worst economic crisis in more than 70 years, is hungry for new investment and local fuel supplies. The investment will add to Sinopec's recently started fuel retailing business, the third international company with a foothold in Sri Lanka, with a license to operates 150 petrol stations. Sinopec's fuel oil division, which runs the retail business there, began in 2019 supplying marine bunker fuel at Hambantota, another Sinopec official said. Sri Lanka's refinery at Sapugaskanda, commissioned in 1969, can process 38,000 barrels of oil a day.

Persons: Chris Helgren, Kanchana Wijesekera, Wijesekera, Vitol, Uditha Jayasinghe, Chen Aizhu, Krishn Kaushik, William Mallard Organizations: China Petroleum & Chemical Corporation, REUTERS, Rights, and Energy, Reuters, Sri, China Merchant Port Holdings, Initiative, China Merchants, Thomson Locations: Vancouver , British Columbia, Canada, Sri Lanka, China's, Saudi Arabia, Russia, China, Colombo, Sinopec, Hambantota, Europe, Asia, Lanka's, Sapugaskanda

☆ Sri Lanka free to compete internationally but U-19 World Cup moved to South Africa
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +2 min

A secutiry person is seen outside the Sri Lanka's cricket board, after Sri Lanka Cricket's (SLC) membership of the International Cricket Council (ICC) has been suspended with immediate effect for government interference, in Colombo, Sri Lanka November 11,2023. REUTERS/Dinuka Liyanawatte/ File photo Acquire Licensing RightsNov 21 (Reuters) - Sri Lanka are free to compete internationally but next year's Under-19 Cricket World Cup will now be hosted by South Africa, as the International Cricket Council (ICC) confirmed the terms of suspension of Sri Lanka Cricket (SLC) on Tuesday. Sri Lanka's membership of the ICC was suspended with immediate effect for government interference on Nov. 10, after Sri Lanka's ministry of sport dismissed SLC's board and replaced it with an interim committee. This followed the country's poor performance at this year's World Cup but the sacking was stayed by Sri Lanka's Court of Appeal. "However, funding to SLC will be controlled by the ICC and the ICC Board confirmed Sri Lanka will no longer host the ICC U19 Men's Cricket World Cup 2024, which will now be held in South Africa."

Persons: Dinuka, Sri Lanka's, Trevor Stynes, Christian Radnedge Organizations: Sri, International Cricket Council, ICC, REUTERS, Sri Lanka Cricket, ICC Board, SLC, ICC U19 Men's Cricket, Thomson Locations: Sri Lanka, Colombo, South Africa, Sri Lanka's

☆ REVIEW Cricket-One-day format revived as Australia gatecrash India's World Cup
▼ + stars: | 2023-11-20 | by ( Amlan Chakraborty | ) www.reuters.com time to read: +5 min

It was a remarkable journey for Australia, who began their campaign with back-to-back defeats yet still finished with the 50-overs World Cup in their arms for the sixth time. Shakib had already caused controversy over his appeal that led to Sri Lanka's Angelo Mathews becoming the first player in international cricket to be 'timed-out'. Cummins, for one, had no doubts about the stature of the original World Cup. "I think it's the pinnacle of international cricket," said Cummins, who was part of Australia's victorious 2015 squad. "The whole cricket world stops with this World Cup."

Persons: Narendra Modi, Adnan Abidi, Cummins, Travis, Jos Buttler, Jonathan Trott, Australia's Glenn Maxwell, Babar Azam, Shakib Al Hasan's, Shakib, Sri Lanka's Angelo Mathews, Mathews, Buttler, Anurag Dahiya, Mark Twain's, Amlan Chakraborty, Peter Rutherford Organizations: Cricket, ICC Cricket, Narendra, Australia, ICC Cricket World, REUTERS, Rights, India, The, West Indies, Sri, WORLD, International Cricket Council, ICC, T20, Pakistan, Thomson Locations: India, Australia, Ahmedabad, Rights AHMEDABAD, England, Pakistan, Sri Lanka, Bangladesh, Australia's, Dharamsala, New Delhi

☆ Confident New Zealand ready for business end of World Cup
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +3 min

"We know that if we play the way we want to play, we'll come out on the right side of the draw. "Throughout the World Cup, the bowling attacks that have done well have passed the baton to the next bowler," Ferguson added. "We probably haven't had as much as we'd have liked over the whole World Cup but it was nice to see Boulty and Tim get some early wickets." New Zealand have reached the final of the last two World Cups and beat India to reach the title-decider in 2019, Ferguson's breakout tournament. Ferguson was confident he would be fit to play a role against the hosts if, as is likely, New Zealand's place in the semi-finals for the fourth straight World Cup is confirmed.

Persons: Zealand's Lockie Ferguson, Lanka's Chamika Karunaratne, Adnan Abidi, Paceman Lockie Ferguson, We've, Ferguson, we'll, Duckworth, Lewis, Trent Boult, Tim Southee, Mitch Santner, Rachin Ravindra mopped, Tim, Nick Mulvenney, Peter Rutherford Organizations: Cricket, ICC Cricket, Chinnaswamy, Lanka's Chamika Karunaratne REUTERS, Rights, Sri, Caps, Pakistan, Zealand, Thomson Locations: New Zealand, Sri Lanka, Bengaluru, India, Pakistan, Afghanistan, Sydney

☆ Inconsistency to blame for Sri Lanka's poor World Cup, says coach Silverwood
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, Nov 10 (Reuters) - Sri Lanka's inconsistency cost them dear at the World Cup, coach Chris Silverwood said after his team suffered a seventh defeat in nine matches at the 50-overs tournament in India. Sri Lanka, who had already been eliminated, lost by five wickets to New Zealand at Bengaluru's M. Chinnaswamy Stadium on Thursday. "I think we've played some good cricket along the way, and I think we'll look back on certain games and rue missed opportunities, to be honest. The top seven sides at the World Cup qualify for the Champions Trophy in 2025, along with hosts Pakistan. Silverwood said they would review their performances in India and look at how they can improve heading into the next cycle.

Persons: Chris Silverwood, Silverwood, we've, Pearl Josephine Nazare, Peter Rutherford Organizations: New Zealand, Bengaluru's, Chinnaswamy, Thomson Locations: BENGALURU, India, Sri Lanka, Pakistan, England, Bangladesh, Netherlands, Bengaluru

☆ New Zealand restrict Sri Lanka to 171 in vital World Cup game
▼ + stars: | 2023-11-09 | by ( Shrivathsa Sridhar | ) www.reuters.com time to read: +1 min

BENGALURU, Nov 9 (Reuters) - Seamer Trent Boult and spinner Mitchell Santner landed timely blows as New Zealand restricted Sri Lanka to 171 all out in their World Cup encounter at the M Chinnaswamy Stadium on Thursday. A big win for New Zealand will put them in a strong position to bag the last semi-final spot and join India, South Africa and Australia, while Sri Lanka need a victory to boost their chances of a top-eight finish for 2025 Champions Trophy qualification. New Zealand captain Kane Williamson's decision to bowl after winning the toss paid off early as pacemen Boult (3-37) and Tim Southee (1-52) ripped through Sri Lanka's top-order to leave them in trouble at 32-3 inside five overs. A fit-again Lockie Ferguson (2-35) struck in his second over to dismiss the aggressive Perera for 51 as Sri Lanka crumbled to 70-5 before folding in the 47th over for a modest total after Santner (2-22) and Rachin Ravindra (2-21) joined the party. Reporting by Shrivathsa Sridhar in Bengaluru; Editing by Pritha SarkarOur Standards: The Thomson Reuters Trust Principles.

Persons: Seamer Trent Boult, Mitchell Santner, Kane Williamson's, pacemen Boult, Tim Southee, Kusal Perera, Tom Latham, Boult, Charith Asalanka, Lockie Ferguson, Perera, Rachin Ravindra, Shrivathsa Sridhar, Pritha Sarkar Organizations: New Zealand, Sri, Thomson Locations: BENGALURU, Zealand, Sri Lanka, India, South Africa, Australia, Sri Lanka's, New Zealand, Bengaluru

☆ New Zealand's Boult excited by prospect of facing India in World Cup semis
▼ + stars: | 2023-11-09 | by ( Shrivathsa Sridhar | ) www.reuters.com time to read: +2 min

Boult bagged 3-37 to help restrict Sri Lanka to 171 before New Zealand made short work of the chase to snap a run of four straight defeats, finishing their pool stage campaign with 10 points from nine games. "I can't speak on what they're thinking but from our point of view to play the World Cup in India and come up against the hosts, a team that's red hot playing good cricket at a great ground - you couldn't script it any better," Boult said. "Excited if that happens, I feel like we've done all we can from our point of view and we'll wait and see what happens." "But history suggests it's a good wicket," Boult said. Doesn't get any bigger than taking on India in front of 1.5 billion people.

Persons: Zealand's Trent Boult, Lanka's Charith Asalanka, Adnan Abidi, seamer Trent Boult, Boult, Doesn't, Shrivathsa Sridhar, Toby Davis Organizations: Cricket, ICC Cricket, Chinnaswamy, Lanka's Charith Asalanka REUTERS, Rights, Sri Lanka, England, New Zealand, Thomson Locations: New Zealand, Sri Lanka, Bengaluru, India, Afghanistan, South Africa, Pakistan, , New Zealand, Mumbai, New, Dharamsala

COLOMBO, Sri Lanka (AP) — The U.S. announced a $553- million project Wednesday to build a new, deep-water shipping container terminal in the Port of Colombo as it competes with China in international development financing. The U.S.-backed financing comes at a time when Sri Lanka is struggling to recover from a dire financial and economic crisis. Sri Lanka borrowed heavily from China to build the port and other infrastructure including an airport and a city being built on reclaimed land. Both neighboring India and China are jostling for influence in Sri Lanka and both have already invested in expanding facilities at the Colombo port. Colombo port also has a terminal run by China Merchants Port Holdings.

Persons: ”, Scott Nathan, Sri Lanka’s John Keells, Lanka’s, Wang Wenbin, William & Mary, AidData, China's, saysChina, Bradley Parks, “, ” ___ Didi Tang Organizations: South, U.S . International Development Finance Corp, West, Local, Sri, Sri Lanka’s John Keells Holdings, Initiative, Foreign Ministry, China Merchants Port Holdings, CHEC Port City Colombo Co, China Communications Construction Company, William & Locations: COLOMBO, Sri Lanka, U.S, Port, Colombo, China, Bay, Bengal, Beijing, Hambantota Port, Hambantota, India, oceanside, Port City, Virginia, “ Beijing, Washington

☆ Court stays sacking of Sri Lanka board
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +2 min

Ranasinghe had replaced the board with an interim committee on Monday after a disappointing World Cup campaign, amid protests calling for the resignation of Sri Lanka Cricket (SLC) officials. The matter was also discussed in Sri Lanka's parliament on Tuesday. Sri Lanka's team wind up their World Cup campaign against New Zealand on Thursday. Sri Lanka are currently ninth with four points -- the same as England, Bangladesh and the Netherlands. The only control that we have in this tournament is the game tomorrow," Nawaz told reporters.

Persons: Arun Jaitley, Sri Lanka's Dilshan Madushanka, Bangladesh's Tanzid Hasan, Pathum Nissanka, Anushree, Roshan Ranasinghe's, Ranasinghe, Shammi Silva, Sri, Sri Lanka's, Naveed Nawaz, Nawaz, Chiranjit Ojha, Rohith Nair, Peter Rutherford Organizations: Cricket, ICC Cricket, Arun, Sri, Pathum Nissanka REUTERS, Sri Lanka Cricket, New Zealand, Christian, Thomson Locations: Bangladesh, Sri Lanka, New Delhi, India, Sri Lanka's, Pakistan, England, Netherlands, Bengaluru

☆ Pakistan's Fakhar has no regrets over missed hundred
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +2 min

Fakhar led Pakistan's chase with a freewheeling 81, which earned him player-of-the-match award, but fell short of a hundred trying to wrap up their chase early. Sri Lanka and the Netherlands can also join them in a mid-table logjam should both win their next games. Fakhar said the mood was upbeat in the dressing room despite the uncertainty around the 1992 champions making the last four in the showpiece 50-overs tournament. "In the World Cup, each win gives you confidence and we were waiting for this win. "We are in the ifs-and-buts (zone) right now - but we will try to win both the remaining matches with good run rates.

Persons: Pakistan's, Zaman, Sri Lanka's Pramod Madushan, Christopher Pike, Fakhar Zaman, Fakhar, Amlan Chakraborty, Michael Perry Organizations: Asia, United Arab Emirates, Sri, Sri Lanka's Pramod Madushan REUTERS, Rights, Bangladesh, England, Thomson Locations: Pakistan, Sri Lanka, Dubai, United Arab, Rights KOLKATA, Eden, Afghanistan, Bangladesh, Netherlands, Zealand, New Delhi

☆ Sri Lanka's Theekshana hails Mathews impact after England upset
▼ + stars: | 2023-10-26 | by ( Shrivathsa Sridhar | ) www.reuters.com time to read: +2 min

BENGALURU, Oct 26 (Reuters) - Sri Lanka spinner Maheesh Theekshana praised all-rounder Angelo Mathews for adding discipline to their bowling attack after the veteran claimed two wickets in miserly spells during Thursday's thumping victory over defending world champions England. Theekshana credited Mathews and player of the match Lahiru Kumara (3-35) for getting them back on track after England made a good start with 59 runs in the first 10 powerplay overs on a dry wicket in Bengaluru. "In the initial four or five overs, we conceded a few runs due to our inability to find the right length," Theekshana told reporters. So, we had a chance to take wickets, that's what we planned here." "I think they underestimated our team, because we also lost three games and we only won against the Netherlands," he said.

Persons: Maheesh Theekshana, Angelo Mathews, Mathews, Matheesha Pathirana, Theekshana, Kumara, Angelo, Lahiru, Shrivathsa Sridhar, Ken Ferris Organizations: England, Pakistan, Thomson Locations: BENGALURU, Sri Lanka, England, Bengaluru, Netherlands

☆ Sri Lanka approves free tourist visa for seven countries to boost tourism
▼ + stars: | 2023-10-24 | by ( Uditha Jayasinghe | ) www.reuters.com time to read: +1 min

A surfboard is seen in the middle of an empty beach, near hotels at Unawatuna beach in Galle, Sri Lanka July 4, 2019. The scheme is part of attempts by Sri Lanka to boost tourism recovery and hit a target of five million arrivals by 2026, the statement added. But the tourism industry is seeing a turnaround in 2023 with Sri Lanka clocking a million arrivals by September, for the first time since 2019. The island is expecting to close the year at 1.5 million arrivals. India is the largest source of tourists with 200,310 arrivals, followed by Russia with 132,300, latest data from the Sri Lanka Development Authority showed.

Persons: Dinuka, Uditha Jayasinghe, Emelia Sithole Organizations: REUTERS, Rights, Sri, Sri Lanka Development Authority, Thomson Locations: Galle, Sri Lanka, China, India, Russia, Japan, Thailand, Indonesia, Malaysia

☆ China's Xi offers to help Sri Lanka; buy more of its exports
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Edgar Su/File Photo Acquire Licensing RightsBEIJING, Oct 20 (Reuters) - China is willing to offer assistance to Sri Lanka without political conditions and buy more of its exports, President Xi Jinping told his Sri Lankan counterpart on Friday in Beijing, state media said. Wickremesinghe was in the Chinese capital for the Belt and Road Forum that ended on Wednesday as well as talks on restructuring debt. "China is willing to continue to provide assistance to Sri Lanka without attaching political conditions, to help it cope with the difficulties it faces," Xi added. Last May Sri Lanka defaulted on its foreign debt as dollar reserves fell to a point where it was unable to pay for essential imports such as fuel and medicine. "China is willing to expand the import of Sri Lanka's ... products and will encourage Chinese enterprises to invest," Xi said.

Persons: Xi Jinping, Edgar Su, Xi, Ranil Wickremesinghe, Wickremesinghe, Lanka, Joe Cash, Clarence Fernandez Organizations: Initiative, of, People, REUTERS, Rights, Sri, Export, Import Bank of China, Forum, Thomson Locations: Beijing, Rights BEIJING, China, Sri Lanka, Colombo, Hambantota, Sri Lanka's

☆ Mendis happy to take over as Sri Lanka captain
▼ + stars: | 2023-10-15 | by ( Saurabh Sharma | ) www.reuters.com time to read: +1 min

LUCKNOW, India, Oct 15 (Reuters) - Sri Lanka's Kusal Mendis will not change his aggressive batting approach after taking over the captaincy two games into the World Cup when team mate Dasun Shanaka was ruled out of the tournament with injury. Mendis is among the tournament's top scorers with 198 runs in two games and his first match as captain will be Monday's clash with Australia who are also without a win in the group stage. "I am very happy to have the captaincy and I hope to play in the future in the same way as I have played so far, because I don't have anything to change," Mendis told reporters on Sunday. Mendis said Sri Lanka would miss all-rounder Shanaka, describing his absence as a "significant disadvantage". Moreover, when we previously lost Wanidu Hasaranga, we made an addition to the team to compensate for his absence," Mendis said.

Persons: Lanka's Kusal Mendis, Dasun Shanaka, Shanaka, Chamika Karunaratne, Mendis, I've, Wanidu Hasaranga, Rohith Nair, Ed Osmond Organizations: Thomson Locations: LUCKNOW, India, Tuesday's, Pakistan, Australia, Sri Lanka, Bengaluru

☆ Sri Lanka president to visit China as debt talks progress - source
▼ + stars: | 2023-10-13 | by ( Uditha Jayasinghe | ) www.reuters.com time to read: +2 min

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsCOLOMBO, Oct 13 (Reuters) - Sri Lankan President Ranil Wickremesinghe will visit China next week as the crisis-hit country makes progress on debt restructuring talks with its biggest lender, a source in his office told Reuters on Friday. The Sri Lankan leader could also meet China's finance and foreign ministers, the source added. The president's media office and Sri Lankan foreign ministry did not immediately respond to requests for comment. Sri Lanka owes Chinese lenders - bilateral and commercial - around $7 billion. Sri Lanka needs to reach agreements with creditors to push forward its first review of the IMF programme, which will release a second tranche of about $334 million.

Persons: Ranil Wickremesinghe, Brendan McDermid, Wickremesinghe, Xi Jinping, Xi, Uditha Jayasinghe, Simon Cameron, Moore Organizations: Sri, General Assembly, REUTERS, Rights, Monetary Fund, Forum, China's, Export, Import Bank of China, IMF, Thomson Locations: New York City, U.S, Sri, China, Beijing, Lankan, Sri Lanka, Japan, India

☆ IMF says Sri Lanka debt talks ongoing, unaware of specific deals
▼ + stars: | 2023-10-11 | by ( Jorgelina Do Rosario | Thomson Reuters | Jorgelina Do Rosario Is Emerging Markets Correspondent At Reuters Based In London | ) www.reuters.com time to read: +3 min

A general view of the main business district as rain clouds gather above in Colombo, Sri Lanka, November 17, 2020. Peter Breuer told Reuters on the sidelines of the World Bank IMF annual meetings in Marrakech that talks between Sri Lanka and all its creditors were ongoing. "We will need to assess the entire package of agreements in its totality to assess consistency with IMF debt targets," Breuer said. Sri Lanka, mired in its worst economic crisis in 70 years, is in debt restructuring talks with a range of creditors, including China, its largest single creditor. Sri Lanka owed Exim $4.1 billion, or 11% of it foreign currency debt, at the end of 2022.

Persons: Dinuka, Peter Breuer, Breuer, Ranjith Siyambalapitiya, Jamie Fallon, Rosario, Libby George, Karin Strohecker, John Stonestreet, Nick Macfie Organizations: REUTERS, Rights, Monetary Fund, Sri, Reuters, World Bank IMF, Export, Import Bank of, Paris Club, Tellimer Research, Thomson Locations: Colombo, Sri Lanka, Rights MARRAKECH, China, Marrakech, Import Bank of China, Japan, India, France

☆ Deloitte expands as PwC Maldives, Sri Lanka network firms exit - memo
▼ + stars: | 2023-10-10 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Anushree Fadnavis Acquire Licensing RightsBENGALURU, Oct 9 (Reuters) - Accounting giant Deloitte is acquiring some of rival PricewaterhouseCoopers' (PwC) Maldives and Sri Lanka network firms, according to a Deloitte memo seen by Reuters, strengthening the company's presence in the South Asia region. PwC's Sri Lanka and Maldives firms will join Deloitte with effect from Oct. 28, the memo said. PwC Sri Lanka and Maldives also confirmed the Deloitte deal in a separate memo sent to some clients seen by Reuters. We are "committed to effecting a seamless transition as we prepare to join Deloitte," the memo said. Deloitte already has a presence in Sri Lanka, largely providing audit services in the region, the source with direct knowledge said.

Persons: Anushree, PwC, Romal Shetty, Nandan Mandayam, Aditya Kalra, Pooja Desai, Mark Potter Organizations: Deloitte, REUTERS, Rights, Accounting, PricewaterhouseCoopers, PwC, EY, KPMG, Reuters, Deloitte South Asia, Sri, Thomson Locations: Gurugram, India, Maldives, Sri Lanka, South Asia, Bengaluru, New Delhi

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