May 3, 2016 Reading Time: 2 minutes
Transatlantic Trade and Investment Partnership under scrutiny. Image credit - filmfoto /depositphotos
Reading Time: 2 min read
Asian Development Bank (ADB) confident in Sri Lanka’s growth
ADB President, Takehiko Nakao, has expressed confidence in Sri Lanka’s growth, stating that the economy will expand between 5.3% and 5.8% in 2016. Additionally, he stated that assistance from the IMF of USD 1.5 billion will further boost confidence.
The ADB is in the process of developing a five-year program with Sri Lanka that will focus on water, transport projects, and investments in the Colombo Port.
Sri Lanka seeks credit line from Russia
Sri Lanka is finalising a credit line of USD 300-400 million with Russia to invest in military equipment for the police and armed forces. It is believed that this deal will strengthen ties with Russia.
Additionally, Russia has assured Sri Lanka that it would assist with the restoration of peace and reconstruction, and the immediate relief of internally displaced people.
UNAIDS welcomes Sri Lanka’s Supreme Court decision
The Joint United Nations Programme on HIV/AIDS (UNAIDS) has congratulated and supported Sri Lanka’s Supreme Court decision prohibiting HIV-based discrimination in educational settings.
This is the first court decision in South Asia to broadly recognise individuals living with HIV, and sets a precedent for future cases of HIV discrimination in Sri Lanka.
TTIP under scrutiny after Greenpeace leak
The proposed Transatlantic Trade and Investment Partnership (TTIP), between the US and the EU, has come under scrutiny following a leak of a 248 page document by the environmental activist group, Greenpeace.
According to Greenpeace, the documents show that the US has pressured the EU to loosen environmental and consumer protection regulations, along with other provisions. If signed, the TTIP will be the world’s largest bilateral trade and investment agreement.
South Korea and Iran sign trade deal
The South Korean and Iranian governments have signed several major cooperation, trade, and energy deals, following the arrival of a large business delegation headed by South Korean President Park Geun-hye in Tehran.
President Park also requested Iran’s assistance in implementing the UN Security Council resolutions on nuclear disarmament in the Korean peninsula. In response, Iran’s President, Hassan Rouhani, highlighted the importance of ‘freeing the Korean peninsula and the Middle East from destructive weapons’.
Venezuelan opposition calls for referendum
The Venezuelan opposition has submitted a petition to the National Electoral Board, with 1.85 million signatures, calling for a referendum to oust President Nicolas Maduro.
The action comes in response to the government’s socialist policies, which have resulted in a shortage of staple goods and medicines, frequent water and power cuts, and triple-digit inflation.
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