Nissan slams Renault abstention on governance efforts vote

TOKYO — Nissan’s chief executive has criticized the Japanese automaker’s French alliance partner, Renault, for trying to block changes to strengthen governance following the arrest of former Nissan Chairman Carlos Ghosn.Hiroto Saikawa said in a statement Monday that Nissan received a letter from Renault saying it would abstain in voting on the corporate governance measures at Nissan’s June 25 shareholders’ meeting, apparently because its views weren’t adequately reflected.Renault declined to comment.Saikawa said the proposed changes have already been discussed by Nissan’s board, including members nominated by Renault.He said: “Nissan finds Renault’s new stance on this matter most regrettable, as such a stance runs counter to the company’s efforts to improve its corporate governance.”The proposal calls for three committees to add outside directors and oversee compensation and audit.The Associated Press read more

Lanka releases 37 Chinese fishermen

Sri Lanka’s location astride an ancient trade route in the Indian Ocean makes it of strategic commercial and military interest to the United States, India and China. The Chinese embassy had “urged Sri Lankan authorities to handle the issue in accordance with the law, sort out the truth and release the Chinese fishermen as soon as possible,” Xinhua said in an earlier report. Sri Lanka released 37 Chinese fishermen detained by its navy, China’s Xinhua state news agency reported on Monday, putting a quick end to what could have been a test of the increasingly close ties between Beijing and Colombo.Sri Lanka’s navy arrested the fishermen on Sunday night for fishing in Sri Lankan waters. They were aboard two trawlers off the country’s east coast town of Batticaloa, Xinhua said. China has been competing for influence in Sri Lanka with India, traditionally the island’s most important ally.Beijing has lent Sri Lanka hundreds of millions of dollars to build ports, roads, railways, power plants and a new airport, fuelling speculation China wants military bases on the island, something denied by Sri Lanka. read more