Japan resumes infrastructure diplomacy in Sri Lanka ahead of China
MARWAAN MACAN-MARKAR
COLOMBO -- Japan's decision to refinance the expansion of Sri Lanka's international airport -- a flagship project dogged by corruption and the country's recent fiscal meltdown -- has pushed it ahead of China in the South Asian nation's postcrisis recovery efforts.
The country's airport and aviation agency, Airport and Aviation Services, is reviewing bids submitted in March by prospective developers to upgrade the Bandaranaike International Airport (BIA), said official and diplomatic sources familiar with Tokyo's decision to reengage with Sri Lanka after lifting its earlier suspension of the loan.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Nikkei Asia
an hour ago
- Nikkei Asia
Japan election live: Ruling coalition at risk of losing majority
TOKYO -- The Japanese public voted on Sunday to determine the makeup of the nation's upper house, in a crucial vote for Prime Minister Shigeru Ishiba, whose coalition is fighting to hold on to its majority -- one that it lost in the lower chamber last autumn. The race is set to be very unpredictable, with issues such as inflation, tax and immigration having dominated the campaign. Here are some of our recent articles on this key election: - What the upper house election means for Japan: 5 things to know - Why the bond vigilantes are right about Japan's election - Japanese PM Ishiba has so far failed to resonate with voters - Japan ruling coalition at risk of losing upper house in election: Nikkei poll - Immigration becomes election issue in Japan amid tough economy - Sanseito brings far-right populism to Japan - Japan's rice price shock exposes PM Ishiba to voter anger as election looms Here's the latest: (Japan time) Sunday, July 20 8 p.m. Voting ends. The ruling bloc is at risk of losing their upper house majority, national broadcaster NHK projected immediately after polls closed. 7:37 p.m. The latest data on voter turnout is out. As of 6 p.m., the national figure stood at 26.65%, down 0.71 percentage points from the 2022 upper house election. 7:13 p.m. Some errors have been made at polling stations, according to national broadcaster NHK. In Tokyo's Ota ward, 25 voters were handed the wrong ballot sheets. In Saitama Prefecture's Kasukabe city, there was a similar error involving ballot sheets for constituencies and proportional representation being mixed up. The affected votes could become invalid. 7:00 p.m. Just an hour to go now. 6:54 p.m. Japan's lead tariff negotiator Ryosei Akazawa on Sunday told reporters that the election results will not affect talks with the U.S., according to Kyodo News. The upper house vote comes amid Tokyo's continued efforts to reach a trade deal with Washington, which has slapped a 25% "reciprocal" tariff that goes into effect on Aug. 1. 6:30 p.m. Here's a few photos from today: 6:15 p.m. The national voter turnout as of 4 p.m. stood at 22.42%, 0.57 percentage point lower than the previous upper house election three years ago, according to the Ministry of Internal Affairs and Communications. For Tokyo, it was 22.87% -- 2.6 percentage points down. According to government data, an estimated 26.18 million people participated in early voting, a record high and over 6.5 million more than in the previous upper house poll. 6 p.m. Just two hours now until voting ends. Exit polls and projections by major broadcasters will start coming in at 8 p.m., and will be updated frequently during the course of the evening as votes are counted.
Nikkei Asia
7 hours ago
- Nikkei Asia
The scam that turned China's housing slump into a cash machine
Caixin Speculators exploit gap between sales prices, valuations, adding to banks' risks Residential buildings under construction in Huizhou, China, in October 2024. Once a pillar of the economy, China's property market has undergone a painful correction since late 2021. © Reuters WANG JING and HAN WEI, Caixin When Li Qing decided to sell her apartment in the southern Chinese city of Guilin, the real estate agent made an enticing offer: a quick sale and a guaranteed payment of 900,000 yuan ($125,000), hassle-free. All she had to do was agree to a few unusual conditions. The agent instructed Li to sign two separate sales contracts and to permit the buyer to name any individual as the "registered person" on the mortgage documents -- the nominal buyer and loan applicant.
Japan Today
16 hours ago
- Japan Today
VIPs visit expo
U.S. Secretary of the Treasury Scott Bessent, third from right, and George Glass, Ambassador of the U.S. to Japan pose with U.S. delegates outside the U.S. pavilion at Expo 2025 in Osaka, on Saturday. © Reuters
