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May 25, 2016    Reading Time: 2 minutes

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Cuba to legalise small and medium-sized businesses. Image credit - master2  /depositphotos

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President leaves for G7 summit

President Maithripala Sirisena will leave for Japan today to attend the G7 summit as a special invitee to the Outreach Session on Stability and Prosperity in Asia.

The President will represent Sri Lanka, a non-member country, and will promote Sri Lanka’s image with the aim of attracting economic partnerships and investment from around the world. 

SL Government announce 4 year development plan

The Prime Minister, Ranil Wickremesinghe, attended the #2030NOW Summit held in Colombo, where he unveiled a four year development plan focusing on rapid sustainable development in Sri Lanka.

The Prime Minister stated that the government plans to establish a Sustainable Development Council, which would aim to improve Sri Lanka’s living standards and harness the country’s strategic location.

SL receives further international assistance
The German government and the Turkish Red Crescent, Turkey’s largest humanitarian organisation, have provided financial support and supplies to Sri Lanka’s flood affected areas.

The German government will provide EUR 1 million in humanitarian aid to individuals with priority needs. The Turkish Red Crescent delivered tents, blankets, and solar kits to Sri Lankan officials.


Greece receives further bailout

The Eurozone finance ministers have agreed to provide a EUR 10.3 billion bailout for Greece, following steps taken to ease the burden of Greece’s EUR 321 billion debt, worth 180% of its annual economic output.

The bailout will be split into two payments: EUR 7.5 billion in June and EUR 2.8 billion in September.

Cuba to legalise private businesses

The Cuban Government plans to legalise small and medium-sized private businesses as part its of reforms, which began in 2008 when President Raul Castro gained power.

The new guidelines will not come into effect until approved by Cuba’s National Assembly, which will hold its next session in July 2016.

Turkey could block EU migrant deal over visas

The Turkish parliament has announced that it will block the EU migrant deal,  if Turkish nationals are not granted visa-free access to the Schengen Area.

The EU has stipulated that Turkey must meet 72 conditions, that include changes to its anti-terror laws, by the end of June in order to earn visa-free access to the Schengen Area.

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