Sri Lanka suspends controversial Chinese port city project
The Dollar Business Bureau The current Sri Lankan government has decided to temporarily suspend the construction of the controversial US $ 1.5 billion Chinese port city project citing that the real estate deal with China was signed without cabinet approval, without following procedures and is a corrupt project by the erstwhile Rajapaksha regime. However, the growing co-operation between the Narendra Modi government and the newly elected Maithripala Sirisena’s Lankan government is also looked upon as one of the major reasons why the island nation is not going ahead with the project. Mid-February, India and Sri Lanka on Monday discussed economic cooperation, maritime security and bilateral investments, besides other aspects of bilateral relations and international issues for a more balanced ...
Budget likely to bring up measures to tackle black money
The Dollar Business Bureau Union Budget 2015 while raising the bar on expectations is likely to be interesting too with the government trying to figure out ways and means to check “black money” in the country. According to sources, in addition to some of the key recommendations made by the Special Investigation Team (SIT) on how to take on the menace of “black money” in the past, the Union Finance Minister, Arun Jaitley has asked other investigative agencies their measures to curb unaccounted money in the system. Based on some of the presentations so far, the sources said that in addition to making tax evasion a “crime” in the country, the Permanent Account Number (PAN) could be more used as ...
Indo-Lanka talks to focus on infrastructure sector amongst others
Sai Nikesh | The Dollar Business India and Srilanka on Monday discussed economic cooperation, maritime security and bilateral investments, besides other aspects of bilateral relations and international issues. According to an official release, while expressing his support for a more balanced growth in trade between the two countries, the Prime Minister of India was quoted to have said, “President and I are committed to unlock the vast potential of our economic cooperation with Sri Lanka.” The PM expressed the Government of India’s readiness for furthering India’s investments in Sri Lanka and improved air connectivity to foster tourism ties with the island nation. Besides these, the Civil Nuclear Cooperation Agreement between the two nations has drawn the special attention and this ...
