Sri Lanka allows Chinese research ship to dock as neighboring India’s security concerns grow

Chinese research ship Shi Yan 6 proceeds to deck at a port in Colombo on October 25, 2023. (AFP)
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Updated 25 October 2023
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Sri Lanka allows Chinese research ship to dock as neighboring India’s security concerns grow

  • India is concerned about rival China’s growing presence in the region
  • Vessel expected to conduct research with Sri Lankan state institutions

COLOMBO, Sri Lanka: A Chinese research ship will be allowed to dock at a Sri Lankan port this week, likely adding to neighboring India’s concerns about China’s growing influence in the Indian Ocean.

The arrival of the Shi Yan 6 follows last year’s visit by a Chinese naval vessel.

The latest ship has been given permission to dock for replenishment at the port of Colombo, the Indian Ocean island’s main port, from Wednesday until Oct. 28, said foreign ministry spokesman Kapila Fonseka.

The vessel had been expected to conduct research with Sri Lankan state institutions, but Fonseka said permission was granted only for replenishment and no research work would be carried out.

“The particular permission is very clear,” he said.

According to Chinese television network CGTN, Shi Yan 6 is a geophysical scientific research vessel on an expeditionary voyage in the eastern area of the Indian Ocean.

Organized by the South China Sea Institute of Oceanology under the Chinese Academy of Sciences, the vessel is scheduled to operate at sea for 80 days, covering a range of more than 12,000 nautical miles (roughly 22,200 kilometers), CGTN reported.

China has been trying to expand its influence in Sri Lanka, which is located on one of the world’s busiest shipping routes in what India considers part of its strategic backyard.

Beijing was once widely seen as having an upper hand with its free-flowing loans and infrastructure investments. But Sri Lanka’s economic collapse last year provided an opportunity for India as New Delhi stepped in with massive financial and material assistance.

Two weeks ago, Sri Lanka reached an agreement with Export-Import Bank of China on key terms and principles for restructuring its debt, an important step toward unlocking a second installment of a $2.9 billion package from the International Monetary Fund aimed at helping the island nation from its dire economic crisis.

Sri Lanka declared bankruptcy in April 2022 with more than $83 billion in debt, more than half to foreign creditors. China accounts for about 10 percent of Sri Lanka’s loans, trailing Japan and the Asian Development Bank.

Sri Lanka borrowed heavily from China over the past decade for infrastructure projects including a seaport, airport and a city being built on reclaimed land. The projects failed to earn enough revenue to pay for the loans, and in 2017, Sri Lanka leased the seaport in Hambantota to China.

Last year, Chinese navy vessel Yuan Wang 5 docked at Hambantota in southern Sri Lanka. There were fears in India that the vessel could be used to surveil the region.


The Family Office to host global investment summit in Saudi Arabia

Updated 18 January 2026
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The Family Office to host global investment summit in Saudi Arabia

RIYADH: The Family Office, one of the Gulf’s leading wealth management firms, will host its exclusive investment summit, “Investing Is a Sea,” from Jan. 29 to 31 on Shura Island along Saudi Arabia’s Red Sea coast.

The event comes as part of the Kingdom’s broader Vision 2030 initiative, reflecting efforts to position Saudi Arabia as a global hub for investment dialogue and strategic economic development.

The summit is designed to offer participants an immersive environment for exploring global investment trends and assessing emerging opportunities and challenges in a rapidly changing financial landscape.

Discussions will cover key themes including shifts in the global economy, the role of private markets in portfolio management, long-term investment strategies, and the transformative impact of artificial intelligence and advanced technologies on investment decision-making and risk management, according to a press release issued on Sunday.

Abdulmohsin Al-Omran, founder and CEO of The Family Office, will deliver the opening remarks, with keynote addresses from Saudi Energy Minister Prince Abdulaziz bin Salman and Prince Turki Al-Faisal, chairman of the King Faisal Center for Research and Islamic Studies.

The press release said the event reflects the firm’s commitment to institutional discipline, selective investment strategies, and long-term planning that anticipates economic cycles.

The summit will bring together prominent international and regional figures, including former UK Treasury Commercial Secretary Lord Jim O’Neill, Mohamed El-Erian, chairman of Gramercy Fund Management, Abdulrahman Al-Rashed, chairman of the editorial board at Al Arabiya, Lebanese Minister of Economy and Trade Dr. Amer Bisat, economist Nouriel Roubini of NYU Stern School of Business, Naim Yazbeck, president of Microsoft Middle East and Africa, John Pagano, CEO of Red Sea Global, Dr. Anne-Marie Imafidon, MBE, co-founder of Stemettes, SRMG CEO Jomana R. Alrashed and other leaders in finance, technology, and investment.

With offices in Bahrain, Dubai, Riyadh, and Kuwait, and through its Zurich-based sister company Petiole Asset Management AG with a presence in New York and Hong Kong, The Family Office has established a reputation for combining institutional rigor with innovative, long-term investment strategies.

The “Investing Is a Sea” summit underscores Saudi Arabia’s growing role as a global center for financial dialogue and strategic investment, reinforcing the Kingdom’s Vision 2030 objective of fostering economic diversification and sustainable development.