Category: Other
World Growth to Continue at Steady Pace if Oil Price Shock Short-Lived
Global economic growth should be steady this year provided the current oil price shock is not prolonged, Fitch Ratings says in its latest March 2026 Global Economic Outlook (GEO). The world economy has held up well despite a succession of geopolitical and US policy shocks. World growth was 2.7% last year, close to its long-run […]
Sri Lanka Among First Countries Globally to Advance Large-scale Biodiversity Action with Kunming Biodiversity Fund Project
Sri Lanka has been endorsed for a project under the Kunming Biodiversity Fund (KBF), positioning the country among the first globally to move into large-scale implementation of the Kunming-Montreal Global Biodiversity Framework. The milestone marks a significant step in translating global biodiversity commitments into coordinated national action. The KBF project proposal was formally signed by […]
Advocata Institute Highlights Regulatory Barrier Limiting Women’s Overtime Earnings
Advocata Institute says that, a regulatory barrier prevents Sri Lankan women achieving pay parity with their male counterparts despite recent legislative amendments have opened doors for women to work night shifts. Despite the 2024 and 2026 liberalizations of the Shop and Office Employees Act (SOEA), which allowed women over 18 to work night shifts in […]
Iran Conflict Raises New Credit Risks for Emerging Market Sovereigns: Fitch Ratings
The Iran conflict could raise additional challenges for some emerging market sovereigns, through such channels as energy imports, remittances, fiscal subsidies, exchange rates and access to international finance, Fitch Ratings says. Hydrocarbon exporters could see positive effects. Under our baseline, in which the effective closure of the Strait of Hormuz lasts less than a month […]
Risks of Middle East Aviation Disruption Rise the Longer It Lasts
The duration of the aviation disruption following the attacks launched by Israel and the US on Iran on 28 February and Iran’s subsequent attacks on countries in the region, will be fundamental to determining the implications for affected sectors, including airlines, airports, lodging, insurance and lessors, Fitch Ratings says. Our baseline expectation that the conflict […]
US ETR Falls to 9.4% as Blanket 10% Tariff Replaces IEEPA Levies: Fitch Ratings
The 10% blanket reciprocal tariff imposed by the U.S. on most trading partners lowers the U.S. effective tariff rate (ETR) to 9.4% from 12.7%, Fitch Ratings says. If the Trump administration imposes a 15% levy, the U.S. ETR would rise to 11.3%. President Trump acted swiftly to reinstate tariffs following the U.S. Supreme Court’s ruling […]
CA Sri Lanka Hails Historic Appointment of First Ever Female Auditor General
The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka), as the national body of accountants has hailed the historic appointment of Chartered Accountant, Ms. Samudika Jayaratna, as the country’s first female Auditor General. In a statement, CA Sri Lanka also expressed its gratitude to His Excellency President Anura Kumara Dissanayake for nominating Ms. […]
Sri Lanka Launches Landmark Digital Foundations for a Data-Driven Agriculture Sector
Sri Lanka today took a major step towards transforming its agriculture sector with the official launch of the Agriculture Enterprise Architecture Framework, Agriculture Interoperability Framework, Data Sharing Policies, and CROPIX, a national digital platform for crop data and decision-making. The high-level launch event, co-hosted by the Ministry of Agriculture, Livestock, Land and Irrigation and the […]
Technology leader Shanil Fernando appointed to the board of NDB
January 20, 2025 (LBO) – One of Sri Lanka’s most significant technology leaders, Shanil Fernando, has been appointed as an Independent Non-Executive Director of Sri Lanka’s National Development Bank (NDB). “Shanil Fernando brings over 25 years of experience in the global IT industry, having played pivotal roles in founding and scaling technology ventures. He was […]
Sarvesh Suri Named IFC’s new Regional Vice President for Asia and the Pacific
Sarvesh Suri is named IFC’s Regional Vice President for Asia and the Pacific, bringing 25 years of global investment and development expertise as well as a proven track record of fostering public-private collaborations. In making the announcement, IFC confirmed that Suri will strategically lead all investment and advisory operations in the region by mobilizing the […]
Sri Lanka’s Proposed Counterterrorism Law Risks More Abuses: Human Rights Watch
The Sri Lanka government’s proposed counterterrorism legislation includes numerous provisions similar to the current abusive law and risks facilitating the same kind of repression, Human Rights Watch said today. The bill does not meet benchmarks set out by the United Nations counterterrorism expert or comply with human rights obligations and commitments that Sri Lanka made […]
FAO Appeals for USD 16.5 Mn to Restore Livelihoods after Cyclone Ditwah Devastates SL’s Agrifood Sector
The Food and Agriculture Organization of the United Nations (FAO) Headquarters in Rome issued an appeal calling for international assistance of USD 16.5 million to support the early recovery of livelihoods and food security for farming, livestock-keeping and fishing communities affected by Cyclone Ditwah in Sri Lanka. Cyclone Ditwah represents one of the most severe climate shocks the country has […]