Sri Lanka agreed to sell 70 percent of the stakes in the port to China Merchants Ports Holdings.
Sri Lanka will finally sign a US$1.1bil deal today to lease the southern Hambantota port to China, after several months of delay caused by local protests and claims by opposing politicians that this would threaten national security.
Sri Lanka's minister of ports and shipping, Mahinda Samarasinghe on Saturday welcomed the signing of the Hambantota deal arguing it would help to alleviate the country's considerable debt burden.
The agreement comes after a almost six-month delay since the signing of the framework deal, which immediately drew public criticism and protests.
Under the new deal, which Reuters has examined, the Sri Lankan government has sought to limit China's role to running commercial operations at the port while it has oversight of broader security.
The Chinese will manage port operations and Sri Lanka will handle port security, the minister said, indicating that it should allay fears that the port could be misused by the Chinese. Cash from the firm's majority stake will be used to repay part of the island nation's huge foreign debt.
The port's annual loan repayment commitment stands at $59 million, and by the end of 2016 the port had suffered a loss of $304 million, according to the government.
Mostly because of cigarette smoking, tobacco use is the leading cause of preventable death in the U.S. and around the world. British American Tobacco's USA subsidiary, Reynolds American Inc., said it was encouraged by Mr.
The Cowboys were not aware of Whitehead's arrest until the news was reported Monday. "I don't know what's going on". Running back Ezekiel Elliott was involved in an altercation on July 16 at a club in Dallas where a man was punched.
Foreign Policy reported that Lebanese lawmakers responded by lobbying their USA counterparts in Congress against the legislation. Secretary of State Rex Tillerson (R) meets with Lebanese Prime Minister Saad Hariri (L) at the State Department July 26, 2017.
Musk said a trip from NY to Washington, which now takes about three hours by train, would take just 29 minutes under his plan. It consists of passenger (or car)-carrying pods that travel in a low-pressure tube.
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Blast from the past as the Nokia 3310 hits our shelves again
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