Author: LBO
Flavours of a new Colombo: Inside the dining experiences of City of Dreams
Colombo has long been known for its diversity of flavour. From bustling street food corners to fine dining establishments overlooking the Indian Ocean, the city’s culinary identity has steadily evolved alongside its growing cosmopolitan character. Yet with the arrival of City of Dreams Sri Lanka, Colombo’s food scene has entered an entirely new era one […]
Sri Lanka Economic and Investment Summit Returns on 12-13 October for 26th Edition
The Ceylon Chamber of Commerce is pleased to announce that the 26th edition of the Sri Lanka Economic and Investment Summit will be held on 12 and 13 October 2026, with preparations now being finalised, as the country’s foremost economic policy forum returns for another year of dialogue on issues of national importance. Engagements with […]
Oil Crisis Hits World Growth Outlook as Forecasts Revised Down: Fitch Ratings
World growth prospects have been hurt by the oil crisis prompted by the US-Iran war, Fitch Ratings says in its latest Global Economic Outlook (GEO). This has led to Fitch lowering its 2026 forecast for global growth by 0.2pp to 2.4%. Forecast cuts have been widespread as higher inflation squeezes real wages, dampens consumption and […]
Oil Market Will Return to Oversupply Once Hormuz Reopens: Fitch Ratings
The Hormuz strait closure created a logistical supply shock but does not alter the direction of the market, Fitch Ratings says in a new report. A rapid production recovery in the region, strong non-OPEC growth and potentially more aggressive OPEC policy are likely to re-establish oversupply in 4Q26 and drive prices lower once the strait […]
Commercial Bank extends its operations to Port City Colombo
Reinforcing its commitment to support the nation’s next phase of economic transformation, Commercial Bank of Ceylon PLC’s new branch in Port City Colombo will bring world-class banking services to Sri Lanka’s emerging international financial hub. Located at Building 04 in Area 02 of the Port City Business Centre – Commercial Hub, Commercial Bank’s Port City […]
Ceylon Chamber Expresses Concern Over New US Labour-Related Tariffs and Calls for Urgent Engagement
The Ceylon Chamber of Commerce is concerned by the announcement of new labour-related tariffs by the United States on several countries, including a proposed 12.5% tariff on exports from Sri Lanka. This development comes at a time when Sri Lanka was continuing discussions with the US following the suspension of the previously announced reciprocal tariffs […]
Bangladesh Authorities’ Request for a New IMF-supported Program
Ivo Krznar, International Monetary Fund (IMF) Mission Chief for Bangladesh issued the following statement: “The Bangladeshi authorities have requested a new IMF financial arrangement to support their economic reform program. IMF staff are engaging with the authorities on their reform agenda and policy priorities as part of the Fund’s consideration of possible next steps. “Bangladesh’s […]
Fitch Upgrades Maldives to ‘CCC-‘ from ‘CC’
Fitch Ratings has upgraded the Maldives’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘CCC-‘ from ‘CC’. Fitch typically does not assign Outlooks to sovereigns with a rating of ‘CCC+’ or below. A full list of rating actions is at the end of this Rating Action Commentary. The rating upgrade reflects Fitch’s assessment that default risks […]
Sunshine Holdings delivers 11.2-pct top line growth in FY26 while navigating healthcare margin pressures
Diversified Sri Lankan conglomerate Sunshine Holdings PLC (CSE: SUN) recorded consolidated revenue of LKR 65.9 billion for the year ended 31 March 2026 (FY26), reflecting an 11.2% year-on-year (YoY) increase. Growth was supported by continued expansion in Healthcare, improving momentum in Consumer, and a stronger contribution from Agribusiness. While profitability was impacted by sector-specific margin […]
SLCGE presents groundbreaking design hub proposal to Ministry of Industry and Entrepreneurship Development
On 28th May 2026, a high-level delegation from the Sri Lanka Chamber of Garment Exporters (SLCGE) met with the Deputy Minister of Industry and Entrepreneurship Development, Hon. Chathuranga Abeysinghe, at his office to formally present a strategic proposal for the establishment of the SLCGE Design Hub. The SLCGE delegation was led by President Nishantha Bakmeege, […]
CSE & Sampath Bank Signs MoU to Strengthen Capital Market Access
The Colombo Stock Exchange (CSE) and Sampath Bank PLC signed a Memorandum of Understanding (MoU) late last month to jointly promote financial literacy, broaden awareness of capital market opportunities, and support businesses in accessing sustainable growth avenues. By leveraging Sampath Bank’s extensive relationship network together with the CSE’s expertise and product offerings, the collaboration seeks […]
EDB and NMRA Unite to Drive Sri Lanka’s Pharmaceutical Export Growth
A special discussion was recently held in Colombo to address barriers hindering Sri Lanka’s pharmaceutical export sector and to realize its full potential. The meeting brought together the Export Development Board (EDB), the National Medicines Regulatory Authority (NMRA), and the country’s leading pharmaceutical manufacturers for a focused exchange on the way forward. EDB Chairman and […]