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Chinese Fin Min assures to support SL’s credit optimization

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Chinese Finance Minister Liu Kun has reaffirmed China’s commitment to extend comprehensive support for the implementation of a medium-term and long-term programme that is mutually beneficial to both parties and aimed at optimizing Sri Lanka’s debt.

The Chinese Finance Minister conveyed this commitment during bilateral discussions held last morning (19) in Beijing with President Ranil Wickremesinghe, the President’s Media Division said.

Minister Liu Kun emphasized that China has a profound understanding of the economic challenges confronting Sri Lanka and commended the progress and measures Sri Lanka has taken thus far to address the on-going economic crisis.

Furthermore, he expressed China’s unwavering commitment to providing robust support for the enhancement of the necessary infrastructure crucial for Sri Lanka’s development.

The Chinese Finance Minister also highlighted the in-depth discussions that transpired regarding financial interactions between Sri Lanka and China, underscoring the collaboration with international organizations closely associated with China, aimed at furnishing additional support to Sri Lanka.

President Wickremesinghe expressed his profound appreciation for China’s consistent support as Sri Lanka endeavours to overcome economic challenges. Discussions also delved into the program designed to spur economic recovery and foster the creation of a competitive, digitally advanced and environmentally friendly economy in Sri Lanka.

Prez holds talks with major Chinese corporations

President Ranil Wickremesinghe also conducted significant deliberations yesterday (19) with representatives from several major Chinese corporations, including China Communications Construction Corporation, Sinopec Company and BYD Company.

These discussions placed considerable emphasis on the exploration of prospective investment opportunities and avenues within Sri Lanka. Key focal points included the development of the port city as an international financial centre, the formulation of new financial regulations specific to the Port City and the establishment of judicial and arbitration mechanisms exclusively applicable to the Port City.

Furthermore, the dialogue encompassed various sectors, including the electrification of Sri Lanka’s transportation systems, electric vehicle assembly and electric train services, the PMD said.

The corporate representatives of these companies expressed their unwavering commitment to extending optimal support for the advancement of Sri Lanka’s economy and to seize the investment prospects the country offers.

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CC approves 02 new appointments to Court of Appeal

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The Constitutional Council (CC) has approved the appointment of two High Court judges as Justices of the Court of Appeal.

It is reported that the Constitutional Council, chaired by Speaker Dr. Jagath Wickramaratne, met recently and approved the nominations submitted by President Anura Kumara Dissanayake on the recommendation of Chief Justice Murdu Fernando.

Accordingly, approval has been granted for the appointment of Colombo High Court Judge Aditya Patabendige and High Court Judge (Civil Appeals) Frank Gunawardena as Justices of the Court of Appeal.

However, it is reported that the proposal to appoint Acting President of the Court of Appeal, Justice Mohammed Thahir Laffar, as a Supreme Court Justice was not considered by the Constitutional Council.

It is stated that the government withdrew the nomination concerning him, as there is currently no vacant seat on the Supreme Court bench.

Meanwhile, on March 11, three newly appointed Court of Appeal Justices were formally sworn in before President Anura Kumara Dissanayake at the Presidential Secretariat.

(adaderana.lk)

(Except for the headline, this story, originally published by adaderana.lk has not been edited by SLM staff)

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03 companies of Daya Gamage to be auctioned

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The Colombo Commercial High Court has ordered to publicly auction three companies said to be belonging to former MP Daya Gamage.

According to the Registrar and Deputy Fiscal of the Colombo Commercial High Court, the auction will be held on July 02 at 10am.

The decision to auction these 03 companies was made to recover a sum of Rs. 104,229,342 owed to a leasing company, People’s Leasing & Finance PLC.

As the respondents have paid approximately Rs. 4,080,000 out of the Rs. 108,309,342 to the leasing company, the auction will proceed in accordance with the judgment issued on Nov. 10, 2022, to recover the remaining amount.

The companies scheduled to be auctioned are Daya Group of Ltd., Daya Apparel Exporter (Pvt) Ltd., and Olympus Construction (Pvt) Ltd.

(Source : Deshaya)

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President AKD returns to SL

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President Anura Kumara Disanayaka has returned to Sri Lanka today (June 15) after a successful visit to the Federal Republic of Germany from June 11 -13.

A statement issued in this regard by the Sri Lankan Ministry of Foreign Affairs, Foreign Employment and Tourism further notes :

President Disanayaka undertook the visit at the invitation of the President of Germany, Frank- Walter Steinmeier, who welcomed him at the Bellevue Palace in Berlin on 11 June 2025, with a ceremonial Guard of Honour accorded by the German Armed Forces.

During the bilateral talks, the two heads of state focused on further strengthening the cordial bilateral relationship and utilizing emerging economic opportunities in areas such as vocational training and the tourism industry. President Disanayaka also briefed the German President on the recent developments in Sri Lanka, including the economic stabilization and reconciliation efforts undertaken and envisaged future action.

During the visit, the German Foreign Minister Dr. Johann Wadephul and German Federal Minister for Economic Cooperation and Development Ms. Reem Alabali-Radovan called on President Disanayake. The discussions with the German Foreign Minister Dr. Wadephul focused on increasing the growing bilateral exchanges between the two countries, economic stabilization efforts, enhancing German investment, the GSP plus trade facility with the European Union, and strengthening cooperation in the multilateral arena.

During the meeting with Minister Alabali-Radovan, President Disanayaka appreciated the development assistance from the German government, which had benefitted the country for more than 65 years, with recent examples being the German-Sri Lanka Friendship Maternity Hospital in Galle and the German Technical Training Institute in Kilinochchi. Discussions also focused on future projects, especially expanding vocational education and training opportunities.

During the visit, the State Secretary of the German Federal Ministry for Economic Affairs and Energy, Dr. Thomas Steffen called on Sri Lanka’s Minister of Foreign Affairs, Foreign Employment and Tourism Vijitha Herath and discussed Sri Lanka’s recent economic progress, improved political stability, and the government’s ongoing efforts to create a more investor- friendly environment.

The visit primarily focused on strengthening economic cooperation between the two countries, including considerable opportunities in emerging areas. Addressing a business forum organized by the Sri Lanka Embassy in Berlin, the German Chamber of Commerce and Industry (DIHK) and the German Asia-Pacific Business Association (OAV) and held at the headquarters of the DIHK, President Disanayake reiterated that Sri Lanka will create a conductive and transparent investment climate and invited the business community to make use of opportunities presented by Sri Lanka’s development potential and strategic location.

At a meeting with key tourism industry associations in Germany focused on outbound tourism, President Disanayake explained the plans of the government to protect the sustainable nature of the tourism industry of Sri Lanka and to address constraints such as human resource development to ensure the continued growth of the vital industry. The President also addressed aspects related to investment in the tourism industry.

The President was accompanied to the meetings by the Minister of Foreign Affairs, Foreign Employment and Tourism Vijitha Herath; Sri Lanka’s Ambassador to Germany Varuni Muthukumarana; Director General for Europe and North America at the Ministry of Foreign Affairs, Foreign Employment and Tourism Sugeeshwara Gunaratna; Chairman of the Board of Investment Arjuna Herath; and other Senior Government officials.

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