Category: Other
An investigation is being carried out with regard to the activities of Kasagala Green Plantation, says CBSL
The Central Bank of Sri Lanka (CBSL) has announced that it is conducting an investigation into the activities of Kasagala Green Plantation (Private) Limited (KGPL) under the provisions of the Finance Business Act, No. 42 of 2011 (FBA). This follows public statements made by Malwattage Ranjith Nandana Pieris, Director of KGPL, during an appearance on […]
The UN Subcommittee on Prevention of Torture to Visit Sri Lanka
The United Nations Subcommittee on Prevention of Torture (SPT) will undertake its second visit to Sri Lanka from 15 to 24 June 2026. The SPT conducted its first visit to Sri Lanka in April 2019, following the country’s accession to the Optional Protocol to the Convention against Torture (OPCAT) in December 2017. Upon accession, the […]
Fitch Changes Global Sovereigns Sector Outlook to ‘Deteriorating’ on Iran War Impact
Fitch Ratings has changed its 2026 global sovereign sector outlook to ‘deteriorating’ from ‘neutral’ because of the impact of the US-Iran war. We expect the conflict will weaken GDP growth, raise inflation and bond yields, and heighten geopolitical risks. However, recent resilience of the global economy and financing conditions temper risks. We have changed five […]
CJS and Dr. Asha de Vos celebrate Sri Lanka’s oceans with limited-edition whale shark pendant
In celebration of World Oceans Day, Colombo Jewellery Stores (CJS) in partnership with Oceanswell, spearheaded by renowned marine biologist, Dr. Asha de Vos, have launched a Limited-Edition Whale Shark Pendant. Limited to just 100 individually numbered pieces, the Pendant marks the fifth species celebrated through this pioneering collaboration, which has combined fine jewellery with marine […]
Justice Ministry Warns Against Coroner Bribes; Public Urged to Report Misconduct
The Ministry of Justice and National Integration has issued a strong reminder to the public that coroners are appointed under Section 108 of the Code of Criminal Procedure to facilitate the judicial process and provide a dignified service to families of the deceased. Coroners serve in an honorary capacity and are expected to provide their […]
Japan and FAO Partner with Sri Lanka to Restore Inland Fisheries in Ditwah Affected Eastern Province
The Government of Japan and the Food and Agriculture Organization of the United Nations (FAO), in partnership with the Government of Sri Lanka, have launched a joint initiative to restore inland fisheries livelihoods and strengthen the resilience of cyclone-affected fishing communities in Sri Lanka’s Eastern Province. The initiative was formally signed by H.E. Akio Isomata […]
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 […]
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 […]