February 12, 2016 Reading Time: 2 minutes
Christine Lagarde nominated for second term as IMF chief. Image credit - palinchak/www.depositphotos.com
Reading Time: 2 min read
Government to clarify different agreements with India
The Minister of Development Strategies and International Trade, Malik Samarawickrama, said that the government will soon differentiate between the Indo-Lanka Economic and Technological Partnership (ILETP) and the Comprehensive Economic Partnership Agreement (CEPA), once the pacts have been finalised.
Speaking in Parliament yesterday, he added that while the ILETP will be beneficial to Sri Lanka, the CEPA is not to be confused with the Economic and Trade Cooperation Agreement, which will facilitate export trade, among other things.
Business Confidence Index at lowest in a year
The LMD-Nielsen Business Confidence Index (BCI) marked its lowest point in a year, when the index for January 2016 dropped by six points.
The LMD magazine noted that the index in recent months has indicated a declining business sentiment.
CSE aims to set up Central Counter Party
The Colombo Stock Exchange (CSE) has issued a Request for Information that calls on potential suppliers to provide information regarding the supply, implementation and support for a Central Counter Party (CCP) system.
The CSE expects a CCP to improve market integration and minimise settlement risk, including by guaranteeing the settlement of cash and delivery of securities for secondary market transactions.
U.S. and Russia agree on ceasefire in Syria
The United States and Russia have agreed on a nationwide “cessation of hostilities” in Syria to commence in a week’s time, and on the supply of humanitarian aid.
The ceasefire agreement, however, excludes hostilities with regard to the Islamic State and the Al-Nusra group.
Canada to reestablish stronger ties with the UN
The Canadian Prime Minister, Justin Trudeau, has stated that Canada seeks membership in the United Nations Security Council.
The announcement, made in keeping with the Government’s pledge to establish closer relations with the United Nations and the international community, was welcomed “enthusiastically” by the United Nations Secretary General, Ban Ki-moon.
IMF nominates Lagarde for second term
Christine Lagarde, the current chief of the International Monetary Fund (IMF), has been nominated for a second term of five years.
Lagarde, the first female to head the IMF, took over as Managing Director of IMF in 2011. Her tenure expires in July 2016.
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