News
Cote d’Ivoir delegation here for Independence and forging biz links
A delegation led by Ambassador Eric Camille N’dry from the embassy of the Republic of Côte d’Ivoire in New Delhi will be visiting Sri Lanka from January 31 to February 7 to attend the Independence celebrations, present credentials and participate in a conference of African Heads of Mission with the president, a news release issued in connection with the visit said.
Mr Sheran Fernando, Honorary Consul represents Côte d’Ivoire in Sri Lanka,The release said the delegation will also be holding business meetings with a view to building collaboration and partnerships between Sri Lanka and Côte d’Ivoire.
The Republic of Côte d’Ivoire is a West African country bordering Guinea, Liberia, Mali, Burkina Faso and Ghana and is the powerhouse of the economy of French-speaking West Africa and the gateway to the vast market of 15 West African States.
It has recorded good economic and social performances since 2012, with an average growth rate of 8% in real Gross Domestic Product (GDP) between 2012 and 2019 and 7.4% in 2021 within a reliable macroeconomic environment characterized by an inflation rate remaining permanently below the community threshold of 3%, the release said.In line with its liberal policy, the Ivorian Government has made the private sector as the privileged actor of the economic growth and investments expected from the private sector represent 74% of the funding for the 2021-2025, it added.
“Côte d’Ivoire has undertaken significant reforms to improve its business environment in order to promote the development of a dynamic and internationally competitive private sector,” the release said.
Côte d’Ivoire is the world’s largest exporter of cocoa beans and the fourth largest exporter of rubber in the world. It’s also the world’s top producer and exporter of cashew nuts, third largest coffee and cotton producer in Africa and the fourth largest palm oil producer in Africa and also plays a key role in transit trade for neighbouring land locked countries.
Its financial sector is the largest in the West African Economic and Monetary Union (WAEMU). It currently has 28 commercial banks, two specialized financial institutes, 53 microfinance institutions, four mobile operators of which three offer money market products and 21 insurance companies as well as a very attractive Investment Code which grants tax advantages to investors.
“As such, there is no limitation on investors’ access to foreign currency and the transfer of investment-related assets is permitted, provided that it is always compliant with tax regulations,” the release added.
A stable country with a growing economy, from 2012 to 2021, the economy grew to post the second-fastest rate of economic growth in Africa and fourth-fastest rate in the world. (IMF.The release said Côte d’Ivoire could be a gateway into the African continent for Sri Lankan businesses looking to break into the region. It’s trade agreements with the U.S, EU and U.K and the market access it provides makes it a country ripe for investment.
News
Malaysia declares emergency in Sarawak as haze from Indonesia worsens
Malaysia has declared a state of emergency in a district in Sarawak state after haze caused by wildfires in neighbouring Indonesia increased air pollution to “hazardous” levels.
King Sultan Ibrahim “has consented to the declaration of emergency throughout Serian Division, Sarawak, following haze conditions that have reached air pollution levels hazardous to public health and safety”, Prime Minister Anwar Ibrahim’s office said in a statement on Thursday.
The declaration followed a formal request from the Sarawak Disaster Management Committee after the region’s Air Pollutant Index reached levels warranting consideration of a local emergency.
Under the order, 647 schools in Serian will close from Monday until at least the end of next week, alongside government and private offices, plantations, construction sites and quarries, with only essential services continuing to operate.
The state’s disaster management authorities said a three-day cloud-seeding operation launched on Thursday would be extended to at least Monday, citing forecasts of “more conducive cloud formations” during that period.
Sarawak State Disaster Management Committee chairman Douglas Uggah Embas, speaking at a news conference in Kuching, stressed that the emergency applied only to Serian, not the entire state, but urged residents there to take the situation seriously.
“Please minimise outdoor activities and avoid strenuous activities outdoors,” he said.
Sarawak, in the northern part of Borneo island, has been heavily affected by haze for weeks, as have the neighbouring states of Sabah and Peninsular Malaysia.
(Aljazeera)
Latest News
Sun directly overhead Moratuwa, Kesbewa, Handapangoda, Idalgashinna, Yudhaganawa, Kotiyagala and Panama about 12.08 noon today (05)
The sun is going to be directly over the latitudes of Sri Lanka from 28th of August to 07th of September due to its apparent southward relative motion.
The nearest places of Sri Lanka over which the sun is
overhead today (05) are Moratuwa, Kesbewa, Handapangoda, Idalgashinna, Yudhaganawa, Kotiyagala and Panama about 12.08 noon
News
Namal remanded until Sept. 18 over Airbus deal investigation
Sri Lanka Podujana Peramuna (SLPP) National Organiser and Parliamentarian Namal Rajapaksa was yesterday remanded until September 18 by the Colombo Chief Magistrate’s Court following his arrest by the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) in connection with an investigation into the controversial SriLankan Airlines Airbus aircraft transaction.
Rajapaksa appeared before the CIABOC at around 9.15 am yesterday to record a statement after being summoned over the transaction. He was taken into custody following several hours of questioning and subsequently produced before the Colombo Chief Magistrate.
The investigation centres on allegations surrounding the acquisition of six Airbus A330 and eight A350 aircraft by SriLankan Airlines in 2013, in connection with an alleged USD 2 million bribe.
Former SriLankan Airlines Chief Executive Officer Kapila Chandrasena and his wife, Priyanka Niyomali Wijenayake, had previously been named in connection with the alleged bribery.
Chandrasena was arrested on March 12 as part of an investigation launched by the CIABOC under the Anti-Corruption Act and was subsequently released on bail. He was later found dead on May 8 while on bail, with police suspecting that his death was a suicide.
Open warrants have been issued for the arrest of Wijenayake, who is named as the second suspect, and Shamindra Rajapaksa, named as the third suspect, in the case pending before the Fort Magistrate’s Court in connection with the Airbus transaction.
The investigation has also received assistance from Airbus, with a delegation from the company’s parent group in France visiting Sri Lanka during the first week of August. The delegation provided statements and other assistance to the CIABOC as part of the ongoing inquiry.
Rajapaksa’s arrest and remand yesterday mark a further development in the widening investigation into the controversial aircraft deal.
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