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Joint rescue operation of X-Press Pearl ship fire underway

The joint operation involving India-Sri Lankan assets to extinguish flames of the X-Press Pearl ship, a container ship anchored at Port of Colombo, that caught ....

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LankaWeb – India strikes hard bargain in Sri Lanka for stake in Colombo port

Posted on January 27th, 2021
MARWAAN MACAN-MARKAR, Asia regional correspondent Courtesy Nikkei Asia
With eyes on growing Chinese influence, New Delhi ensures its interests get priority
Port of Colombo in 2019: Sri Lanka and India recently agreed on terms for developing the port’s Eastern Container Terminal with Indian company Adani Group. (Photo by Yuji Kuronuma)
BANGKOK Sri Lanka’s hawkish President Gotabaya Rajapaksa has caved in to Indian pressure for a stake in the Port of Colombo, the busiest harbor in the strategically located South Asian island where China already has a foothold.
Rajapaksa’s retreat came on the heels of a visit earlier this month by Indian External Affairs Minister Subrahmanyam Jaishankar to India’s smaller southern neighbor, where he laid down unequivocal terms for Indian-backed development of a container jetty in the port. The Sri Lankan government has given the nod after taking into account “ ....

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Sri Lanka Gives 'Go-Ahead' Signal To India-Backed Port Project Despite Protest From Workers' Unions

January 25, 2021
Weeks after India’s External Affairs Minister visited Sri Lanka, President Gotabaya Rajapaksa gave the green light to the India-backed port project in Colombo. The project, earlier put on hold following protests by workers’ unions, is approved at a time when the island nation is seeking a $2-billion financial lifeline from New Delhi.
Reports suggest that the Rajapaksa government has been seeking a $1 billion currency swap and $1 billion debt moratorium from India to save it from sinking into a sea of foreign debt.
Sri Lanka’s economic situation has turned worse of late. As of September 2020, the country was facing $51.6 billion in foreign debt, according to the Central Bank of Sri Lanka. The foreign reserves dropped to $5.5 billion as of November 2020, down from the $7.6 billion in December 2019. ....

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Days after EAM visit, Sri Lanka arrests more fishermen

Sandeep Dikshit Tribune News Service New Delhi, January 10 A large number of fishermen from Tamil Nadu will keep off the sea on Monday in an apparent reflection of the inability of External Affairs Mi ....

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