News

President invited to attend World Climate Action Summit

Published

11 months ago

May 23, 2023

editor

President Mohamed bin Zayed Al Nahyan of the United Arab Emirates (UAE) has extended a gracious invitation to President Ranil Wickremesinghe to participate in the World Climate Action Summit, a key event that will inaugurate the Emirates Climate Conference.

The invitation was sent as a letter to President Wickremesinghe, expressing warm greetings and well wishes for the progress and prosperity of Sri Lanka and its people.

The invitation letter sent by the President of the United Arab Emirates were officially handed over to President Wickremesinghe yesterday (22) by the Ambassador of the United Arab Emirates to Sri Lanka Mr. Khaled Nasser AlAmeri.

The World Climate Action Summit leaders’ event is scheduled to take place on December 1 and 2, and will coincide with the UAE’s 52nd National Day celebrations. The summit will mark the launch of the 28th Session of the Conference of the Parties (COP28 UAE) to the UN Framework Convention on Climate Change (UNFCCC) at Expo City Dubai from November 30 to December 12, which will be presided over by the United Arab Emirates.

COP28 UAE holds immense significance as it will witness the conclusion of the first Global Stocktake of the Paris Agreement. This milestone assessment will evaluate global progress in addressing climate change and identify areas for further action on a global scale.

The Emirates Climate Conference serves as a prominent international platform for climate dialogues and plays a vital role in steering climate negotiations among UNFCCC member parties. The conference aims to foster equal opportunities for all stakeholders to engage in transformative partnerships and contribute to ground-breaking, equitable solutions. It will emphasize the importance of countries uniting to address the impacts of climate change while promoting sustainable economic and social development worldwide.

President Al Nahyan expressed his deep honour and pleasure in extending this invitation to President Wickremesinghe, emphasizing the UAE’s commitment to tackling climate change and welcoming President Wickremesinghe to the United Arab Emirates.

This invitation not only underscores the UAE’s dedication to climate action but also highlights the significance of international cooperation and participation in addressing the pressing challenges of climate change.

President Mohammed bin Zayed Al Nayan, who expressed his gratitude at receiving this invitation for President Ranil Wickremesinghe, commended the government’s commitment on the program for the advancement and prosperity of the people of Sri Lanka.

(President’s Media Division)

News

Details of SL recruits in Russian military, sought

Published

5 mins ago

April 20, 2024

editor

Sri Lanka has sought a report from Russian authorities on details of Sri Lankan military recruits and how many of them have died during the Russian-Ukraine conflict, the ‘Aruna’ newspaper reports.

According to a directive by the Ministry of Foreign Affairs of Sri Lanka, the Sri Lankan Embassy in Russia has forwarded this request to the Russian Ministry of Defence.

Previously, the Human Trafficking, Human Smuggling and Maritime Crime Investigation Division (CID) arrested a retired major and an employment agent, identified as leaders of an organized scheme that recruited retired military personnel as mercenaries for the Russian army.

The Defence Ministry in Sri Lanka has urged the Tri Force commanders to brief Tri Force personnel not to fall for such rackets.

(Source : Aruna)

News

Delegation to visit NZ over opening a SL High Commission in Wellington

Published

14 mins ago

April 20, 2024

editor

Following the decision by the Cabinet of Ministers to open a Sri Lanka High Commission in Wellington, New Zealand.

An official delegation led by Director General, Overseas Assets Management & Development Division of the Ministry Pradeepa Saram, is to visit New Zealand next week to attend to matters related to the opening of the High Commission, Sri Lanka’s Ministry of Foreign Affairs state.

A media release by the MFA states that the delegation will visit New Zealand from April 22- 25 and will engage in meetings with officials of the Ministry of Foreign Affairs and Trade of New Zealand as well as with other related agencies and stakeholders.

Sri Lanka is to open a Sri Lanka High Commission in Wellington following a Cabinet decision to do so.

New Zealand has a significant Sri Lankan expatriate community comprising mostly professionals and students. The opening of a resident Mission will facilitate outreach to the community and pursuit of stronger collaboration in the fields of trade, education, sports, science & technology, tourism and health.

News

Bondholders express concern over debt restructuring amid political uncertainty

Published

2 hours ago

April 20, 2024

editor

The representatives of bondholders who hold more around 50 percent of Sri Lanka’s outstanding international sovereign bonds (ISB) , during closed door interactions with the representatives of Sri Lankan political parties, have expressed fear whether any debt restructuring agreement will be honored in case of a regime change at the elections pending this year, Daily Mirror learns.

The bond holders held talks with various political leaders including from the opposition parties such as the Samagi Jana Balawegaya (SJB), the National People’s Power (NPP) and the United Republican Front (URF) led by MP Patali Champika Ranawaka during the New Year holiday period.

During talks with the NPP, the party has assured that the programme with the IMF (International Monetary Fund) will not be derailed.

Currently, the Sri Lankan government has concluded the initial restricted discussions with nine members of the Steering Committee of the Ad Hoc Group of Bondholders over a span of three weeks. Sri Lanka was joined by its legal and financial advisors Clifford Chance and Lazard, respectively, while the restricted members of the Steering Committee were joined by the Group’s legal and financial advisors, White & Case and Rothschild & Co., respectively.

The Steering Committee as a whole comprises ten of the largest members of the Group, with the Group controlling approximately 50% of the aggregate outstanding amount of ISBs.

Earlier, the Finance Ministry said in a statement that the parties failed to come to an agreement on restructuring terms, despite the constructive discussions.

During this period, Sri Lanka, the Steering Committee and its advisors met during a two-day working session in London on 27 and 28 March to discuss the Group’s latest debt treatment proposal. Prior to the meetings, March 15 Sri Lanka had also sent its own debt treatment proposal to the Group’s advisors which was rejected by the Steering Committee.

Also, Sri Lanka rejected last week international bondholders’ proposal to restructure more than $12 billion in debt, putting at risk critical International Monetary Fund support and delaying its efforts to resolve a two-year-long debt crisis.

(dailymirror.lk)

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