Skip to content 
Search

Latest Stories

India announces £310m loan for Sri Lanka 

INDIA will lend Sri Lanka $400 million or for infrastructure projects, prime minister Narendra Modi said on Friday (29) after talks with the island nation's new president Gotabaya Rajapaksa aimed at improving bilateral ties.

Sri Lanka, located off the southern tip of India, has become an arena of competing influence between New Delhi and China, which has built ports, power stations and highways as part of president Xi Jinping's signature "Belt and Road Initiative", designed to boost trade and transport links across Asia.


But the terms of some of those projects have drawn criticism from politicians in Sri Lanka and opened the way for countries such as India, the US and Japan to rebuild ties in the Indian Ocean country that lies near key shipping lanes.

Rajapaksa, Sri Lanka's former wartime defence chief, is on his first visit to India after a sweeping election victory earlier this month won on a platform promising to pull the country out of its deepest economic slump in more than 15 years.

He told reporters he wanted to take bilateral ties with India to a "very high level".

Modi said India would provide Sri Lanka with $50m for its security needs in addition to the $400m for infrastructure.

"India is fully committed to the development of Sri Lanka," he said.

(Reuters)

More For You

LET Mining: The world's leading cloud mining platform, the best way to earn passive income

LET Mining: The world's leading cloud mining platform, the best way to earn passive income

Today, as the digital economy continues to evolve, passive income is no longer a wealth tool exclusive to the rich, but something that everyone can touch and participate in. With the integration of blockchain technology and green energy, LET Mining is providing global users with a new way of passive income: no operation, zero technical threshold, and daily income.

What is LET Mining?

LET Mining is an innovative cloud mining service platform that simplifies the complex cryptocurrency mining process into a few simple steps through cloud computing technology, allowing ordinary users to easily participate in digital currency mining and obtain stable passive income without purchasing expensive hardware equipment or mastering professional technical knowledge.

Keep ReadingShow less
JLR Tata

A logo is pictured outside a Jaguar Land Rover new car show room in Tonbridge, south east England.

JLR Q1 sales dip as US tariffs hit exports

Jaguar Land Rover (JLR) reported a 10.7 per cent drop in sales for the April–June quarter, as a temporary pause in shipments to the United States and the phase-out of Jaguar’s legacy models weighed on volumes.

The company, owned by India’s Tata Motors, sold 87,286 units to dealers worldwide during the quarter, compared to 97,755 units in the same period last year.

Keep ReadingShow less
Bangladesh seeks US deal to shield garment industry from tariffs

Workers are engaged at their sewing stations in a garment factory in Savar, on the outskirts of Dhaka, on April 9, 2025. (Photo by MUNIR UZ ZAMAN/AFP via Getty Images)

Bangladesh seeks US deal to shield garment industry from tariffs

BANGLADESH, the world's second-biggest garment manufacturer, aims to strike a trade deal with the US before Donald Trump's punishing tariffs kick in next week, said the country's top commerce official.

Dhaka is proposing to buy Boeing planes and boost imports of US wheat, cotton and oil in a bid to reduce the trade deficit, which Trump used as the reason for imposing painful levies in his "Liberation Day" announcement.

Keep ReadingShow less
UK business district
The Canary Wharf business district including global financial institutions in London.
Getty Images

Bond yields ease following Starmer’s support for Reeves

THE COST of UK government borrowing fell on Thursday, partially reversing the rise seen after Chancellor Rachel Reeves became emotional during Prime Minister’s Questions.

The yield on 10-year government bonds dropped to 4.55 per cent, down from 4.61 per cent the previous day. The pound also recovered slightly to $1.3668 (around £1.00), though it did not regain all its earlier losses.

Keep ReadingShow less