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Investments in Sri Lanka are Secure Under the Current Government
President Anura Kumara Dissanayake emphasized that the security of investors and investments coming into the country has been ensured under the current government.He made this remark during a discussion held last Saturday (11) at the Presidential Secretariat with a delegation of U.S. business representatives visiting the country to study Sri Lanka’s investment opportunities, business environment and legal framework.The President noted that a secure environment for investments has now been established in Sri Lanka, highlighting that the irregularities that prevailed under previous administrations have been rectified. The current government, he said, is formulating new laws within a democratic framework to ensure transparency and stability in the investment process.President Dissanayake further affirmed that attracting foreign investment remains a top priority of the government. In this regard, measures are being taken to guarantee investor protection, expand investment opportunities and facilitate investor operations. He added that steps are underway to introduce an Investment Protection Act to reinforce this commitment.He also stated that the government is working toward building national unity beyond divisions of ethnicity and religion, creating an efficient public service, maintaining transparent diplomatic relations and overcoming technological barriers through digitalization all aimed at strengthening the country’s investment climate.The U.S. delegation included Harlan Crow, Chairman of Crow Holdings, Krishna Balam, Head of U.S.-India Relations and M&A Business, Sarah Stern, President of Hudson Institute, Ravenel B. Curry, Co-Chief Investment Officer and Founder of Eagle Capital Management, Lucy Billingsley, Co-Founder of Billingsley Company, Katherine Crow, Civic Leader and SMU Trustee and Walter Russell Mead, Member of the Hudson Institute.Accompanying the President were Labour Minister and Deputy Minister of Finance and Planning Anil Jayanta Fernando, Secretary to the Ministry of Finance Dr. Harshana Sooriyapperuma and Senior Additional Secretary to the President Russell Aponsu.
Govt must take action on 'climate mortgage trap' - FTAdviser
The government must take action on the “climate mortgage trap” to stop borrowers’ homes from becoming “a prison”, according to John Fraser-Tucker, head of mortgages at Mojo Mortgages. His comments follow a report from the UK Sustainable Investment and Finance Association which warned hundreds of thousands of households in England could become “climate mortgage prisoners” due to increased flooding.It detailed that 430,000 homes could become “trapped” in high-interest mortgages for flood-prone properties that cannot easily be sold by 2050, with property values in the highest-risk flood areas potentially dropping by more than 20 per cent.This “trap” was explained by Fraser-Tucker who pointed out that, for most lenders, valid building insurance was a “non-negotiable” condition of a mortgage.“If your home is deemed too high-risk for an insurer to cover, your lender may refuse to offer you a new fixed-rate deal when your current one ends,” he explained.“This leaves you ‘trapped’ on standard variable rate. With SVRs currently hovering around 7 per cent, the UKSIF suggests this could cost the average household an extra £4,000 a year in interest alone.”Therefore, he described the “climate mortgage trap” as a challenge that requires government action on planning laws and flood defenses.Individual measuresFraser-Tucker also pointed out that, while the government should be taking measures to protect homeowners, there are measures borrowers themselves can take to stop them becoming victims of the trap. “As individuals, it’s worth being proactive now so you’re not caught off guard down the road,” he said.These measures include knowing risk before buying or remortgaging, investing in “Property Level Resilience”, securing insurance via Flood Re, and exploring green mortgages for resilience.He also suggested that borrowers seek expert advice early, stating: “If you’re worried your home might be at risk, don’t wait until your fixed-rate deal is a month from expiring to speak to a broker.”This includes a protection review and whole-of-market access.“By treating climate resilience with the same importance as an EPC rating or a structural survey, Brits can protect their homes from the elements and their finances from the ‘SVR trap’,” Fraser-Tucker concluded.“The goal is simple: ensuring that your home remains an asset you own, rather than a prison you’re trapped in.”tom.dunstan@ft.comWhat’s your view?Have your say in the comments section below or email us: ftadviser.newsdesk@f...
OFAC Specially Designated Nationals List - Sanctions List Service
A application for use by OFAC personnel As part of its enforcement efforts, OFAC publishes a list of individuals and companies owned or controlled by, or acting for or on behalf of, targeted countries. It also lists individuals, groups, and entities, such as terrorists and narcotics traffickers designated under programs that are not country-specific. Collectively, such individuals and ...
Oil & gas supply secure: Rising prices strain govt finances - YouTube
#BernamaNews: Although the country's oil and gas supply remains secure, Prime Minister Datuk Seri Anwar Ibrahim stated that rising global fuel prices are placing pressure on government finances ...