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Sri Lankan PM Visits China, Britain’s Rich List

Sri Lankan PM Ranil Wickremesinghe at alloverindia.in

Sri Lankan PM Visits China: Sri Lankan PM Ranil Wickremesinghe visited China in April 2016. In Beijing he met his Chinese counterpart Li Keqiang and discussed bilateral and regional issues. He called on Chinese president Xi Jinping. During his visit both sides agreed to further speed up the overall and comprehensive resumption of work on Colombo port project. This is an important project and both countries have a strong desire to further enhance and advance this project. In tune with Colombo’s aspirations, the two prime Ministers agreed to priorities the construction of an industrial park at Sri Lanka’s Hambantota port. Chinese companies would be encouraged to develop industrial parks, special economic zones, and engage in the processing and manufacturing sector in Sri Lanka. The two countries will also concentrate on the construction of ports, airports, roads and railways along with fostering a stronger collaboration in the fields of finance, science and technology and culture. Both sides have also agreed to advance their FTA negotiations, with the year-end as the target to achieve tangible results. Sri Lanka is “Very Willing” to participate in China’s Belt and Road initiative so as to reestablish Sri Lanka’s United National Party is set to reinforce ties with Communist Party of China. China and Sri Lanka signed seven agreements. These include one on extradition and another on cooperation between the china development Bank and the Central Bank of Sri Lanka. The focus on infrastructure has resulted in the signing of a preferential buyer credit loan agreement for the construction of an extension of section two of the Southern Highway. The Southern Highway is a 126 km-long expressway that runs from Colombo to Matara on the southern coast of the island.

Sri Lankan PM Ranil Wickremesinghe and china PM at alloverindia.in

Ric Summit:

Russia India China foreign ministers summit was held in Moscow on April 18. In her address at the summit Indian external affairs Minister Sushma Swaraj said there must be an effective global action against terror networks and terrorism remains the foremost threat to peace and security. India believes that foremost challenge to international security continues to be posed by international terrorism. The RIC counties must lead the way in getting the international community together to counter terrorism through Joint action, including at the UN. She added we must not fail in this regard. If we continue to adopt double standards in dealing with terrorism it will have serious consequences not just for our own countries, but the international community as a whole. On BRICS, Swaraj said it was an important framework to boost economic growth. We look forward to active participation of all members in the meetings of BRICS during our presidency this year. She rose with her Chinese counterpart Wand Yi, the issue of China blocking India’s bid at the UN to have JeM chief and Pathankot terror attack mastermind Masood Azhar designated as terrorist.

Britain’s Rich List:

Britain’s annual rich list was released on April 24. Mumbai born property magnates David and Simon Reuben have topped the Sunday times Rich list 2016 with a fortune of €13.1 billion, followed by the Hinduja brothers at €13 billion. The Reubens, who own London Oxford Airport and London Heliport, have increased their fortune by €3.4 billion in the past year to jump to the top slot. Mr Srichand and Mr Gopichand Hinduja, who head the Hinduja Group, hold on to their slot from last year with an unchanged fortune. Lakshmi N. Mittal’s steel empire taking a hit from the global industry crisis and losing nearly three quarters of his wealth. The Arcelor Mittal chief held the top slot on the list back in 2008 with a whopping €27.7 billion, which is now down to just €7.12 billion this year. He slips to 11th on the list from 7th last year. Completing the top three is Warner Music owner Len Blavatnik, Who has €11.59 billion. The UK has clocked 120 billionaires this year, the highest recorded since 2006.    

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