Sri Lanka buys back gas business from Shell for $63 mln

Sri Lanka on Wednesday completed its buyback of the majority stake in Royal Dutch Shell’s (RDSa.L) local arm Shell Gas Lanka’s for $63 million as a part of its wider policy of re-nationalisation. With Wednesday’s repurchase, the Indian ocean island nation now has 100 percent ownership of the company. Shell had bought the government’s 51… Continue reading Sri Lanka buys back gas business from Shell for $63 mln

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Sri Lanka court rejects Rajapaksa election challenge

Sri Lanka’s supreme court on Friday threw out a challenge to President Mahinda Rajapaksa’s January re-election by his jailed rival, former army chief Sarath Fonseka. Fonseka garnered 40 percent to his former commander-in-chief’s 59 percent at the Jan. 26 poll, which prompted the former general to accuse the president of rigging the vote and then… Continue reading Sri Lanka court rejects Rajapaksa election challenge

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Sri Lanka jails ex-Tamil Tiger for 1999 suicide blast

A Sri Lankan court on Wednesday sentenced a Tamil Tiger separatist to 30 years’ hard labour for helping carry out a 1999 suicide bombing that killed 26 people and cost the then-president her eye. Sri Lanka’s government defeated the separatist Liberation Tigers of Tamil Eelam in May 2009, ending a civil war that became one… Continue reading Sri Lanka jails ex-Tamil Tiger for 1999 suicide blast

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FACTBOX-Key political risks to watch in Sri Lanka

Sri Lankan President Mahinda Rajapaksa this week signed off on a 30-month prison term against his erstwhile army commander and political arch-rival, in a case critics say shows the president is becoming more authoritarian. Following is a summary of key risks to watch in Sri Lanka: * FISCAL REFORMS The International Monetary Fund released the… Continue reading FACTBOX-Key political risks to watch in Sri Lanka

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Sri Lanka president wins constitutional power boost

Sri Lanka’s parliament on Wednedsay passed a constitutional amendment that grants President Mahinda Rajapaksa even more unchecked power, which had prompted opposition cries of a looming dictatorship. Rajapaksa won 161 votes in favour of the 18th amendment that removes a presidential two-term limit and more crucially, unwound an earlier amendment designed to de-politicise appointments to… Continue reading Sri Lanka president wins constitutional power boost

Q+A: What’s behind India and China’s diplomatic spats

Trade between India and China is booming but diplomatic ties have become increasingly fraught over an unsettled border, the disputed Kashmir region and the competing global aspirations of the world’s most populous nations. China is seeking to expand its influence in South Asia and could use India’s "soft underbelly" of Kashmir to box it in,… Continue reading Q+A: What’s behind India and China’s diplomatic spats

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Sri Lankan leader has votes to change constitution

Sri Lankan President Mahinda Rajapaksa on Friday secured the two-thirds parliamentary majority he needs to change the constitution after an opposition party with eight legislators pledged its support. "We will not join the government, but we will support the proposed constitutional amendments," Basheer Segu Dawood, the chairman of the ethnic minority party Sri Lanka Muslim… Continue reading Sri Lankan leader has votes to change constitution

Sri Lanka defends war conduct, slams rebel human shields

Sri Lanka said Tuesday the army did all it could to avoid civilian casualties during the war with Tamil rebels and blamed the United Nations for failing to halt the rebels’ use of civilians as human shields. Defence Secretary Gotabaya Rajapaksa, who led the army to victory over the Liberation Tigers of Tamil Eelam (LTTE)… Continue reading Sri Lanka defends war conduct, slams rebel human shields

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