With Election Looming, Sri Lanka’s President Says Chinese Tower Contractor Disappeared with Funds

On September 16, during the opening of the 356-meter Lotus Tower in Colombo, Sri Lankan President Maithripala Sirisena alleged that one Chinese contractor working on the project had disappeared with $11 million in state funds. Sirisena said that in 2012, under his predecessor Mahinda Rajapaksa, Sri Lanka’s state-run Telecommunication Regulatory Commission (TRC) had deposited the funds with Aerospace Long-March International Trade Co. Ltd, ...

Mengniu Launches Takeover Bid for Baby Formula Manufacturer Bellamy

On September 15, the Board of Directors of Australia’s baby formula manufacturer, Bellamy (Australia’s only certified organic infant formula manufacturer), accepted a $1.5 billion takeover bid by Mengniu Dairy Company.  Bellamy was once seen as a role model for companies seeking to develop a presence in China, but reportedly saw annual profits drop 19% (due to a fall in sales) after tighter rules by Chinese ...

Bangladesh Member of Parliament: China to Help Build Submarine Base

On September 12, Bangladesh MP Col. Faruk Khan (Ret.) said that Chinese companies will assist in the construction of a submarine base in Cox’s Bazaar, designed to house two submarines purchased from China’s Wuchang Shipyard in 2016.  Col. Khan, a member of the parliamentary committees on foreign policy and defense, said the facility, located on the Bay of Bengal in southeastern Bangladesh, would be financed by Bangladesh.  He ...