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Sri Lankans - Eight Sri Lankans among crew detained in Equatorial Guinea - newsfirst.lk - India - Sri Lanka - Poland - Nigeria - county Petroleum - Central African Republic - Equatorial Guinea
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Eight Sri Lankans among crew detained in Equatorial Guinea
COLOMBO (News 1st) – Eight Sri Lankan sailors, who are part of a 26 member crew of MT Heroic Idun, an oil vessel, have been "illegally" detained by Equatorial Guinea since 14 August.Apart from the Sri Lankan sailors, the crew also includes 6 Indian sailors and a national each of Poland and Philippines.As per the crew, their vessel was arrested by an Equatorial Guinea naval ship on international waters on 12th August and brought to Luba port under naval escort and threat of legal action.The vessel was arrested based on a request made by Nigeria.The Nigerian Navy says it is conducting an investigation into the activities of MT HEROIC IDUN, a supertanker, arrested by Equatorial Guinea forces over alleged crude oil theft in Nigeria.The vessel and its crew were arrested on August 7th by the Central African country after it fled from Nigeria’s AKPO oilfield when its alleged activities were uncovered by operatives of the Nigerian Navy.Adedotun Ayo-Vaughan, spokesperson of the Nigerian Navy, confirmed that the vessel is on it way back to Nigeria for further investigations.He said after the investigation is complete, the office of the attorney-general of the federation (AGF) will determine whether or not the vessel and its crew will be prosecuted by the federal government.The Nigerian National Petroleum Company (NNPC) Limited in September said it loses $700 million every month as a result of oil theft and vandalism at terminals.The Incident: The Heroic Idun ship was supposed to load cargo of crude oil in Nigeria’s AKPO terminal on 8 August, but as per terminal instructions the loading operation was delayed and the ship never made any operations in Nigeria.The same evening, the ship was approached by an unidentified craft claiming
Is Sri Lanka on track to access funds from the IMF? - newsfirst.lk - China - city Beijing - Japan - India - Sri Lanka - Washington
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Is Sri Lanka on track to access funds from the IMF?
Sri Lanka, which is under an ongoing economic crisis, is headed for another major turbulence as the country will not be able to secure the much-needed IMF loan in December as its ally and debtor China is yet to initiate a dialogue on debt restructuring with Colombo.A report in the Hindustan Times quoting financial analysts based in Washington said that Sri Lanka will miss the IMF deadline and will have to wait till March next year to secure a loan of $2.9 billion, as Beijing was involved in the 20th National Party Congress.The next meeting of the IMF executive board is in March 2023, Sri Lanka will most likely have to wait until then for IMF Board approval, and access to the funds.Why is China's involvement so important to access IMF funds?Sri Lanka is now considered a country that defaulted on its external debt because the island nation lacked foreign reserves for debt servicing.According to the Central Bank of Sri Lanka and the Finance Ministry, Sri Lanka's total debt was $36 billion at the end of 2021.Of this total debt, Colombo owes some 52% in bilateral credit to China, 19.5% to Japan, and 12% to India.One of the main conditions for Sri Lanka to tap the USD 2.9 Billion funding from the International Monetary Fund is debt reconciliation and restructuring.Bilateral means transactions between two countries, and there is an institution that operates with the support of the International Monetary Fund to talk about bilateral debt, and this is called the Paris Club.Sri Lanka has obtained a large number of loans from Japan, India, and China, and among them, only Japan is a member of the Paris Club.India is openly supporting Sri Lanka's engagement with the IMF, and avenues are open for Sri Lanka to discuss debt
Bangladesh issues precautionary measure against Sri Lanka, SL trade at risk - newsfirst.lk - Iran - India - Sri Lanka - Bangladesh - Burma
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Bangladesh issues precautionary measure against Sri Lanka, SL trade at risk
COLOMBO (News 1st) – The Central Bank of Bangladesh last week issued a circular advising all authorized dealers, including banks, to refrain from transactions with Sri Lankan banks through the Asian Clearing Union (ACU) system.The move has been made in response to the "self-motivated decision by the Central Bank of Sri Lanka (CBSL)  to remain temporarily suspended from ACU mechanism with effect from October 14th".Accordingly, all authorized dealers have been advised not to do any trade and trade related transactions with Sri Lanka through the ACU mechanism.The Asian Clearing Union was created among the South Asian Nations in order to provide trading facilities among the South Asian Nations, plus Iran and Myanmar as members in 1974. Within the ACU, all eligible transactions between member countries are required to be settled through the Asian Clearing Union. The unit of settlement of ACU transactions is a common unit of account of ACU, which is equivalent to one USD.In case of importation of materials into a country, it would be debited to the account of that specific country at the Asian Secretariat, and the balance is settled every two months through the ACU in hard currency.With this new move, it would halt the possibility of conducting any transactions between Bangladesh and Sri Lanka through the ACU. However, when New1st inquired on the matter from former Deputy Governor of the Central Bank of Sri Lanka Dr.
Suriname refutes reports of its citizen being sentenced to death in Sri Lanka - newsfirst.lk - India - Sri Lanka - Brazil - Qatar - city New Delhi, India - city Vienna - city Doha, Qatar - Suriname
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Suriname refutes reports of its citizen being sentenced to death in Sri Lanka
COLOMBO (News 1st) – The family of a Surinamese woman arrested with cocaine in Sri Lanka have appointed a Surinamese lawyer to appear for her case.The government of Suriname has refuted media reports that a Surinamese woman arrested in Sri Lanka has been sentenced to death on suspicion of drug smuggling. The woman was arrested by the Customs Narcotics Control Bureau on October 18 for possession of over two kilograms of cocaine at the Katunayake Airport.The 25-year-old woman, who had arrived at the Katunayake Bandaranaike Airport through Doha, Qatar from Brazil, was questioned by the Sri Lanka Customs Narcotics Control Bureau officers, due to her suspicious behavior.During the investigation, the officers discovered 2,553 grams of cocaine, in tins, labeled as containing food.The suspect was subsequently detained and charged with the offense of drug smuggling.The Suriname Ministry of Foreign Affairs, International Business and International Cooperation has become involved in the matter on the basis of the Vienna Convention on Consular Traffic’ (Arts 5 and 36 paragraph 1c) and ‘the Vienna Convention on Diplomatic Traffic’, adding that information is requested from Sri Lanka.The Surinamese government has taken steps in accordance with these preconditions and the embassy in New Delhi, India, immediately contacted the authorities in Sri Lanka.After confirming the suspect’s arrest, the Surinamese embassy in New Delhi immediately requested permission from the Sri Lankan authorities for consular access to the person concerned, either virtually or physically.In the meantime, a Surinamese lawyer has been appointed by the suspect’s family as a contact person, and information is exchanged with the family via this communication
Rishi Sunak - Podujana Peramuna - If Sunak can become British PM, dual citizens should be allowed to enter P’ment – Sagara K - newsfirst.lk - India - Sri Lanka - Britain
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If Sunak can become British PM, dual citizens should be allowed to enter P’ment – Sagara K
COLOMBO (News 1st) – The General Secretary of the Sri Lanka Podujana Peramuna, Attorney-at-Law Sagara Kariyawasam emphasized that dual citizens should be allowed to enter the Parliament. Speaking at a press conference held at the party headquarters, Kariyawasam stressed this point taking into example the newly appointed British Prime Minister, Rishi Sunak.Pointing out that the concept of a global village is now prevalent in the world, the SLPP General Secretary said that instead, some parties are attempting to drag the country back into tribalism.He said that England, as a country where Protestant Christianity is used as the official religion, a Hindu of Indian origin was appointed as the Prime Minister, which speaks for the UK's acceptance towards those of a different origin, in contrast to that of Sri Lanka. "The question of whether we, as a country are moving towards tribalism, I think was best answered for those who brought amendments such as the 22nd Amendemnt, by England last week," he said.However, the question remains, wheter the example taken by Kariyawasam is comparable to the situation in Sri Lanka? The current British Prime Minister Rishi Sunak was born on the 12th of May 1980 at the Southampton Hospital in Britain . Which means he was a British citizen by Birth.
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