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.
Tags: Sri Lanka
Elon Musk's Starlink to Enter Telecoms Market of Sri Lanka After Changing Decades-Old Law
Sri Lanka has approved changes to its telecommunications law to allow Elon Musk's Starlink to establish operations in the South Asian nation.
McDonald's Closes Sri Lanka Stores After Agreement with Local Partner Ends Over Poor Hygiene Case
McDonald's attorney explained that the termination of the agreement with the franchisee was a result of standard compliance issues identified by the parent company.
Tata Motors to grow exports of trucks to offset slow India sales
Tata Motors Ltd (TAMO.NS), India's biggest automaker by revenue, plans to triple exports of its trucks and buses to countries in Asia and beyond to counter slow sales growth in India, it said on Wednesday.
China says Sri Lanka loans made 'based on consensus'
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.
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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.
China will pledge to invest billions of dollars in India's rail network during a visit by President Xi Jinping this week, bringing more than diplomatic nicety to the neighbors' first summit since Narendra Modi became prime minister in May.
Varun Beverages planned to invest USD300 million for a business expansion in South Asia and Africa, reported Ventures Africa.
According to a private equity official, the private equity industry in Sri Lanka is interested in backing small and mid-sized firms that have a winning business model and a plan for growth, the Lanka Business Online reported.
ONGC Videsh Ltd, Oil and Natural Gas Corporation's overseas arm, has bid for 3 out of 13 Sri Lankan oil and gas blocks in the Mannar basin.
The Indian Angel Network, the country's oldest and largest angel investor network, is hunting for investment opportunities in the UK and Singapore. IAN expects to announce its first UK deal during the first half of 2014, while it will begin its Singapore operations in the latter half of next year.
Top Chinese company China Harbor Engineering Company will be building two hotels and a golf course in Sri Lanka worth USD500 million. Previously, the company constructed an international airport which was opened this year.
Fonterra negated the Sri Lankan ban of the company's dairy products. Top dairy exporter, Fonterra of New Zealand, cried foul over the banning of its products in Sri Lanka last Friday.
Retail Holdings wanted an IPO up to US$200 million for Singer Asia. Retail Holdings NV was reported to seek up to US$200 million in an upcoming initial public offering of Singer Asia Ltd, said three anonymous sources.
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