Category: Other
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 […]
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 […]
Joint Statement by the Heads of International Energy Agency, IMF, World Bank Group & WTO
Washington – May 29, 2026: The Heads of the International Energy Agency, International Monetary Fund, World Bank Group and World Trade Organization met on May 28 as part of the high-level coordination group established in April to maximize their institutions’ response to the energy, trade, and economic impacts of the war in the Middle East. Following […]
FCCISL Appoints Rohitha Silva as President; Set to Roll Out ‘Vision Sri Lanka 2027’
Continuing its long-standing service to the nation at its 49th Annual General Meeting., the Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL) has appointed veteran entrepreneur and idac Chairman, Dr. Rohitha Silva, as its President for the 2026 to 2028 term. With an illustrious 53 year history, the FCCISL has continually evolved […]
The EV Powerhouse XPENG G6 is Ready to Challenge the Tesla Model Y
The world is witnessing the rise of a new generation of technology companies that are no longer limiting themselves to one industry, one product, or one idea. Among them, XPENG has rapidly emerged as one of the most fascinating names redefining the future through artificial intelligence, robotics, intelligent mobility, and futuristic engineering in the global […]
The Ceylon Chamber of Commerce to Host Sri Lanka Climate Summit 2026
From Risk to Opportunity: Mainstreaming Climate Action into Sri Lanka’s Growth Story. As climate rules tighten globally and investor expectations shift from commitment to compliance, climate action is now directly tied to trade, competitiveness, and access to finance. Against this backdrop, The Ceylon Chamber of Commerce will host the second edition of the Sri Lanka […]
SL with support from Norway, UNICEF & UN Volunteers, launches digital systems to support communities affected by Cyclone Ditwah
The National Disaster Relief Services Centre (NDRSC) under the Ministry of Defence today launched its new digital Compensation Management System and the Community Inquiry Mechanism, funded by the Government of Norway and supported by UNICEF Sri Lanka and UN Volunteers. This is a major step forward in ensuring faster, more transparent and accessible support for […]
Harsha de Silva Rejects Claims of Talks with Ruling Party, Calls for New Era of Economic Vision
Opposition MP Harsha de Silva has dismissed claims of discussions with the ruling party, reaffirming his commitment to building a developed and economically prosperous Sri Lanka. De Silva reflected on his political journey, noting: “No one in my family is involved in politics. I developed a passion for the country at a young age. That […]
Ceylon Chamber Leads High-Level Corporate Delegation to India for India–Sri Lanka Business Forum
The Ceylon Chamber of Commerce will lead a senior corporate delegation to Mumbai for the India–Sri Lanka Business Forum on 13 May 2026, held in partnership with the Confederation of Indian Industry (CII). The delegation brings together the leadership of some of Sri Lanka’s most prominent companies, representing a broad cross-section of the economy. Participants […]
U.S., Sri Lanka Partner to Advance American AI Leadership in Higher Education
The United States is strengthening its global leadership in artificial intelligence (AI) by partnering with Sri Lanka to help shape the country’s first national AI policy framework for higher education. At the request of the University Grants Commission (UGC), the U.S. Embassy in Sri Lanka collaborated closely with Sri Lankan counterparts to develop a framework grounded in American AI expertise, standards, […]
Research Vessel Dr. Fridtjof Nansen Completes Marine Scientific Survey in Sri Lankan Waters
The Research Vessel Dr. Fridtjof Nansen has successfully completed a marine scientific survey in Sri Lankan waters and departed Colombo, marking the conclusion of a critical mission to strengthen the country’s ocean knowledge base. As part of the EAF-Nansen Programme of the Food and Agriculture Organization of the United Nations (FAO) and Norway, the vessel […]