June 10, 2016 Reading Time: 2 minutes
The Bilderberg Group will gather in Dresden, Germany. Image credit - bitpics /depositphotos
Reading Time: 2 min read
Sri Lanka rises 18 places in peace rankings
Sri Lanka has ranked in 97th place in the 2016 Global Peace Index (GPI), an improvement from 115th place in the 2015 GPI rankings. This year’s GPI ranked 163 nations based on internal and external factors.
Sri Lanka’s rise was the second largest improvement across the index. According to the GPI, strengthening relations with India contributed to improving Sri Lanka’s ranking.
BOI facilitates Japanese investors’ meeting
The 8th annual Japan-Sri Lanka Government Private Sector Joint Forum, for existing Japanese companies and projects under the BOI regime, was hosted by the Board of Investment (BOI) of Sri Lanka.
Participants discussed matters that ranged from staff salaries and leave, to taxes and resident visas. This forum aims to ensure that Sri Lanka offers investor-friendly conditions for Japanese companies in the country.
Foreign exchange regulation to be lifted
The Sri Lankan government has announced plans to lift a 60-year old restriction on foreign exchange flows, to allow the free transfer of money in and out of the country.
This decision aims to encourage further investment in the economy, which has been subject to tightly controlled foreign currency transactions and a balance of payments crisis.
Obama endorses Hillary Clinton
President Barack Obama has endorsed Hillary Clinton as the Democratic Party presidential nominee, stating there has never ‘been someone so qualified to hold this office’.
President Obama’s endorsement came after a meeting with Mrs. Clinton’s opponent, Bernie Sanders. Mrs. Clinton was also endorsed by Vice President Joe Biden and Senator Elizabeth Warren.
Bilderberg Group gathers in Germany
Approximately 130 political leaders, bankers, and business leaders will attend the closed-door annual meeting of the Bilderberg Group in Dresden, Germany. No reporters are granted access to the proceedings, and participants are bound by the Chatham House Rule.
Several governmental and intergovernmental leaders are expected to attend the meeting, where they will discuss issues ranging from the EU migration crisis to cybersecurity.
China and Pakistan to collaborate on development projects
The Central Development Working Party, a body responsible for authorizing development projects in Pakistan, has approved two projects worth a total of USD 10 billion. China will provide loans equivalent to 85% of the cost of the projects.
The loans will be used to upgrade Pakistan’s rail network and to build a gas pipeline. The rail project is part of the China-Pakistan Economic Corridor initiative.
24 Horton Place
Colombo 7
Sri Lanka
A think tank engaging in independent research of Sri Lanka’s international relations and strategic interests, to provide insights and recommendations that advance justice, peace, prosperity, and sustainability.
