Tue, Jun 27, 2017 | updated 07:11 AM IST

Sri Lanka offers temporary resident visas for foreigners investing USD 300K

Updated: Jan 13, 2017 05:36 IST      
Sri Lanka offers temporary resident visas for foreigners investing USD 300K

Colombo [Sri Lanka], Jan. 13 (ANI): The Sri Lankan government has said it will offer temporary resident visas for foreign investors who invest a minimum of USD 3,00,000 in the country.

The move is to ease pressure on the rupee.

Sri Lankan Finance Minister Ravi Karunanayake addressing a media briefing on Thursday invited foreigners to use Sri Lanka to bank their surplus cash, reports the Colombo Page.

He said the funds coming through Commercial Banking license can be invested in Sri Lanka.

The Minister said if foreigners, especially older people who like to spend time in Sri Lanka, can invest funds of at least USD 3, 00,000, the government can offer temporary resident visas for two to three years.

If they could increase the investments to USD 1.5 million the duration can be further expanded, he said.

The money can be invested in the banking sector, the stock market and in treasury bonds.

Karunanayake said that exchange controls will be totally eliminated and the investments can earn higher returns of 2-3 percent compared to rates around 0.5 percent elsewhere in the world. However, he said that cash in millions cannot be taken out of the country.

The investments would boost the country's foreign reserves and help cut reliance on foreign debt, he added.

The move is in line with a 2016 Budget proposal to grant resident visas to foreigners who bring in a large amount of foreign exchange into the country. (ANI)

PM Modi, Trump called on Pak to curb terrorism: MEA

Updated: Jun 27, 2017 07:04 IST     

Washington D.C. [U.S.A.], June 27 (ANI): The Ministry of External Affairs (MEA) has said that terrorism and counter-terrorism ruled the discussions between Indian Prime Minister Narendra Modi and United States President Donald Trump even as they called on Pakistan to ensure that its territory is not used to launch terror attacks on other countries.

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Washington D.C. [U.S.A.], June 27 (ANI): United States President Donald Trump gave Indian Prime Minister a guided tour of his residence quarters in the White House, including Lincoln bedroom and showed him a copy of the famous Gettysburg address of the 16th President of the United States of America and the desk on which he wrote it, on Monday.

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Washington D.C. [U.S.A.], June 27 (ANI): Prime Minister Narendra Modi laid special emphasis on the growing camaraderie between India and the United States even as he addressed the media jointly with U.S. President Donald Trump at the White House here on Monday.

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Washington D.C. [U.S.A.], June 27 (ANI): United States President Donald Trump stressed on eliminating and destroying radical Islamic terrorism even as he addressed the press, along with Indian Prime Minister Narendra Modi, at the White House here on Monday.

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Washington D.C. [U.S.A.], June 27 (ANI): Indian Prime Minister Narendra Modi, on the second day of visit to the United States, sat down for delegation-level talks with U.S. President Donald Trump in the Cabinet Room at the White House here.

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Washington D.C. [U.S.A.], June 27 (ANI): Prime Minister Narendra Modi was grateful to United States President Donald Trump as he, along with the First Lady, Melania, rendered a warm and grand welcome to the Indian Head of State.

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Washington D.C. [U.S.A.], June 27 (ANI): United States President Donald Trump extended a warm welcome to Indian Prime Minister Narendra Modi even as he, along with First Lady Melania, received him at the White House on Monday.

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Trump, Melania receive PM Modi at White House

Updated: Jun 27, 2017 01:42 IST     

Washington D.C. [USA], June 27 (ANI): U.S. President Donald Trump along with First Lady Melania received Indian Prime Minister Narendra Modi at the White House on Monday.

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Al-Qaeda releases Swedish hostage held in Mali since 2011

Updated: Jun 27, 2017 01:40 IST     

Stockholm [Sweden], June 27 (ANI): Johan Gustafsson, a Swedish national who was held hostage by al-Qaeda in Mali since 2011, has been released.

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Washington DC [United States] June 27 (ANI): Pakistan is the United States' 'frenemy' and not an ally in war on terror, said a United States security expert on Monday.

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Washington D.C. [USA], June 27 (ANI): Washington's decision to designate Hizbul Mujahideen Chief Syed Salahuddin as a global terrorist shows that the United Sates recognises that India is a victim of terrorism, said a senior political scientist here.

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Washington D.C. [USA], June 26 (ANI): Speaking ahead of the meeting between Prime Minister Narendra Modi and U.S. President Donald Trump here on Monday, former Pakistan ambassador to Washington Hussain Haqqani expressed hope that with closer India-U.S. ties, Islamabad would also change its policies towards terror groups.

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New Delhi [India], June 26 (ANI): Prime Minister Narendra Modi in his meeting with Secretary of State United States of America Rex W. Tillerson and Secretary of Defence Corps General James Mattis discussed ways to counter terrorism effectively.

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Washington D.C. [USA], June 26 (ANI): India on Monday welcomed Washington's decision to designate Hizbul Chief Mohammad Yusuf Shah, also known as Syed Salahuddin, as a 'Specially Designated Global Terrorist.'

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Washington DC [U.S.A.], June 26 (ANI): With Prime Minister Narendra Modi all set to meet US President Donald Trump today, Senior Associate for South Asia at the Woodrow Wilson Center, Michael Kugelman said that counter-terrorism is a major area of co-operation between the two countries, and the war against Islamic terrorism is bound to bring both nations together.

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Washington D.C. [U.S.], June. 26 (ANI): In a major vindication for India and embarrassment for Pakistan, the U.S. Department of State on Monday designated Hizbul Chief Mohammad Yusuf Shah, also known as Syed Salahuddin, as a 'Specially Designated Global Terrorist'.

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Washington D.C.: PM Modi meets US State Secy and Defense Secy

Updated: Jun 26, 2017 22:06 IST     

Washington D.C. [USA], June 26 (ANI): Ahead of his meeting with U.S. President Donald Trump, Indian Prime Minister Narendra Modi held talks with Secretary of State Rex Tillerson and U.S. Defense Secretary James Mattis.

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Washington D.C. [USA], June 26 (ANI): Director of India Initiative at Hudson Institute Dr. Aparna Pande has said that closer ties between India and U.S. will surely send a strong message to China and especially Pakistan, who would come under pressure to take action against terror groups enjoying safe haven in the country.

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Washington D.C. [USA], June 26 (ANI): The U.S. Supreme Court on Monday permitted the Trump administration to partially reinstate the travel ban which would affect people from Iran, Libya, Somalia, Sudan, Syria and Yemen.

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New Delhi [India], June 26 (ANI): U.S. President Donald Trump has alleged that the former administration failed to take action against Russia for election meddling, as it was confident of Hillary Clinton's win.

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