June 16, 2016 Reading Time: 2 minutes
20th St. Petersburg International Economic Forum commences in Russia. Image credit - Yarygin / depositphotos
Reading Time: 2 min read
France supports Sri Lanka’s reconciliation efforts
The French Ambassador to Sri Lanka and the Maldives, Jean-Marin Schuh, has commended the government’s policies towards improving human rights conditions, postwar reconciliation, and good governance.
Ambassador Schuh shared the French government’s decision to bilateral relations through initiatives such as the EUR 50 million urban development project in Anuradhapura coordinated by the French Development Agency.
Sri Lankan economy grows in first quarter of 2016
The Department of Census and Statistics has announced that Sri Lanka’s economy grew by 5.5% during the first quarter of 2016, reaching LKR 2.088 trillion.
The agriculture, industry, and services sectors contributed 7.4%, 31.6%, and 52.4% respectively towards GDP in this period. Both the industrial and services sectors experienced high growth rates compared to their performance during the first quarter of 2015.
Cabinet approves Capital Gains Tax
The Sri Lankan Cabinet has approved a proposal submitted by Prime Minister Ranil Wickremesinghe, to introduce a new Capital Gains Tax (CGT) regime.
The CGT, which was was previously in place from 1959 to 2002, is envisaged to reduce inequalities in income distribution. The proposal further stated that the previous CGT system was outdated and no longer conformed to international best practices.
UAE to withdraw troops from Yemen
The Deputy Supreme Commander of the UAE Armed Forces, Prince Shaikh Mohammed bin Zayed Al Nahyan, has stated that that the ‘war is over’ for Emirati troops in Yemen, with the exception of those involved in counter-terrorism operations.
The Minister of State for Foreign Affairs, Anwar Gargash, has further stated that the UAE would continue ‘monitoring political arrangements’ and ‘empowering Yemenis in liberated areas’. The UAE has been an active member of the Saudi-led ‘Operation Restoring Hope’ coalition in Yemen since 2015.
International economic forum begins in Russia
The 20th St. Petersburg International Economic Forum has commenced today. Representatives from 600 Russian companies and 500 foreign companies from 60 countries will attend the three-day event.
One of the main topics on the agenda will be discussions on the future of Russian-European relations. The European Commission President Jean-Claude Juncker and Italian Prime Minister Matteo Renzi will attend the event, and are also scheduled to meet with Russian President Vladimir Putin.
China objects to Obama’s meeting with Dalai Lama
The Ministry of Foreign Affairs of China has stated its opposition to a meeting between President Barack Obama and the exiled Tibetan spiritual leader, the Dalai Lama.
The Chinese Foreign Ministry Spokesperson, Lu Kang, stated that this meeting may damage Chinese-US relations. The closed-door meeting, held on 16 June, was President Obama’s fourth meeting with the Dalai Lama.
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