Investment in Sri Lanka port only for ‘normal business’, says China

September 2nd, 2009 China to buy $50 billion of first IMF bondsBEIJING — China has agreed to buy $50 billion of the International Monetary Fund's first bond issue in a move that will help to strengthen the body's lending ability and diversify Beijing's foreign holdings. The agreement announced Wednesday by the Washington-based IMF comes as the body tries to raise money to finance lending, especially to developing countries, to help economies weather the global downturn.

August 23rd, 2009 HANGZHOU - Visiting Pakistani President Asif Ali Zardari has urged Chinese entrepreneurs to set up business ventures in that country in a bid to boost foreign investment. Zardari made the call during his visit to Hangzhou, capital of China's Zhejiang Province, Saturday.

August 15th, 2009 BANGKOK - China and the Association of South East Asian Nations (ASEAN) Saturday signed an investment pact that provides guarantees against nationalisation, riots and disputes and is expected to boost investment. "The ASEAN-China Investment Agreement is expected to boost bilateral investments by 40 to 60 percent over the next two years," Thai Commerce Minister Porntiva Nakasai said after inking the pact with Chinese Commerce Minister Chen De-ming.

August 7th, 2009 China fund lost 2.1 pct on global portfolio in '08BEIJING — China's sovereign wealth fund said Friday it lost 2.1 percent last year on its global portfolio and defended its performance as being better than other such funds amid worldwide financial turmoil. The China Investment Corp., launched in 2007 with $200 billion in assets, was the target of criticism at home after early investments in U.S.

August 6th, 2009 CHENNAI - Tamil Nadu Government on Thursday sent the fourth installment of relief material worth Rs 15 crores for Tamil civilians in Sri Lanka, who are confined to displacement camps. More than 2,80,000 civilians are held in sprawling camps in the north since May, when government troops crushed the Liberation Tigers of Tamil Eelam (LTTE) to end a 25-year-old war.

July 28th, 2009 COLOMBO - Bharti Airtel Lanka, a subsidiary of India's telecom major Bharti Airtel, Tuesday said it has crossed the one million customer-mark in Sri Lanka. The company has achieved this milestone within six months of the launch of its services in the island country.

July 16th, 2009 DHAKA - Bangladesh will begin construction of a new deep sea port by 2010-end that it says will boost the country's economy and help the entire South Asian region gain access to the sea. The cabinet was informed Wednesday said that Japan's Pacific Consultation International, in association with four other firms, conducted the feasibility study, and finally selected Sonadia Island as the best site for the deep-sea port.

July 15th, 2009 Foreign direct investment in China falls 6.8 pctBEIJING — Foreign direct investment in China fell in June for the ninth straight month but the decline was less severe than in May, data showed Wednesday, adding to signs of an economic recovery. Investment in June totaled $9 billion, down 6.8 percent from a year earlier, said Commerce Ministry spokesman Yao Jian at a news conference.

July 4th, 2009 BEIJING - Visiting Sri Lankan Foreign Minister Rohitha Bogollagama has denied that his country has inked an arms deal with China. "Sri Lanka and China enjoy a traditional bilateral relationship and have enjoyed a smooth development of cooperation since the diplomatic ties were established in 1957," Bogollagama told the China Daily.

June 23rd, 2009 TIANJIN - Airbus delivered its first China-assembled A320 jet Tuesday in the northern port city of Tianjin, the base of the manufacturer's only final assembly line outside Europe. The plane was delivered to Beijing-based Dragon Aviation Leasing, which will lease it to Sichuan Airlines.

June 15th, 2009 Foreign direct investment in China falls 17.8 pctBEIJING — Foreign direct investment in China fell in May for the eighth straight month as the global economic crisis battered trade and corporate finance, the Commerce Ministry said Monday. Foreign direct investment in May totaled $6.4 billion, down 17.8 percent from the same month last year, while the number of new approved foreign companies reached 1,649, down 32 percent year-on-year, ministry spokesman Yao Jian said at a news conference.

May 27th, 2009 GENEVA - The United Nations Human Rights Council adopted Wednesday a resolution which praised the government of Sri Lanka for its commitment to human rights, while condemning the Tamil Tiger rebels. The resolution, tabled by Sri Lanka itself and other nations, including China, Cuba and Egypt, also allows the government to let aid agencies' have access to camps for the internally displaced "as may be appropriate".

May 2nd, 2009 LONDON - China is using the Sri Lankan crisis to expand its sphere of influence in the Indian Ocean region as part of its "string of pearls" strategy, and this is one of the main reasons behind failure of Western governments to negotiate a ceasefire to help Tamil civilians trapped on the front line, according to a leading UK based daily. The world, including India, has called for a cessation of hostilities to enable civilians to escape from the war zone, but China is still encouraging the Lankan offensive against the Liberation Tigers of Tamil Eelam (LTTE).

April 15th, 2009 BEIJING - Foreign direct investment (FDI) in China posted a 20.6 percent year-on-year decline in the first quarter to $21.78 billion, the ministry of commerce announced Wednesday. In March, FDI was $8.4 billion, down 9.5 percent from a year earlier, ministry spokesman Yao Jian said at a news conference.

February 15th, 2009 BEIJING - China's actual use of foreign investment plunged 32.67 percent year on year to $7.54 billion in January, an official said Monday. Foreign investment use has seen consecutive falls in China since October, when a 2.02 percent annual drop was recorded, Yao Jian, spokesman for the Ministry of Commerce (MOC), said at a press conference.