Category: South Asia
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 […]
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 […]
Assembly Election 2026 Results: Winners, Losers And India’s Political Reset Explained
Election 2026 results are reshaping India’s political map. From Vijay’s historic surge in Tamil Nadu to BJP’s expanding national footprint, Mamata Banerjee’s setback in Bengal, and leadership shifts in Kerala and Assam, this election signals disruption at every level. Who rose, who fell, and what comes next?
Emerging Asia Could Face Increased Food-Cost Pressures: Fitch Ratings
Emerging markets in Asia would see rising cost pressure across agribusiness and food supply chains if a prolonged US-Iran war pushes fertiliser supply disruption deeper into the planting season, Fitch Ratings says. For these sectors, reduced fertiliser availability and higher prices would raise production costs, discourage application rates and weaken crop yields, which would lead […]
Vice President of India visits Sri Lanka to strengthen bilateral ties
The Vice President of India Shri C. P. Radhakrishnan undertook an official visit to Sri Lanka from 19 to 20 April 2026. The visit took place in the backdrop of intensified high-level engagement between the two countries, including the visit of President Anura Kumara Disanayaka to India in December 2024, the visit of Prime Minister […]
Vice President of India Shri C. P. Radhakrishnan to undertake an official visit to Sri Lanka
The Vice President of India Shri C. P. Radhakrishnan is scheduled to undertake an official visit to Sri Lanka from 19 to 20 April 2026. During this visit, Vice President Radhakrishnan will hold bilateral discussions with President Anura Kumara Disanayake and Prime Minister Dr. Harini Amarasuriya in a continuation of the recent high-level diplomatic engagements which reinforce the longstanding ties […]
Launch of UPI One World for Sri Lankan Buddhist Pilgrims
The Sri Lanka High Commission in India, in partnership with the National Payments Corporation of India (NPCI), today launched a pilot initiative introducing UPI One World for Sri Lankan Buddhist pilgrims visiting India. This pioneering digital payment facility enables Sri Lankan travellers to make secure, real-time payments across India without the requirement of an Indian […]
Empowering Youth: U.S. Launches Young South Asian Leaders Initiative Workshop in Colombo
Today in Colombo, U.S. Ambassador to Sri Lanka Julie Chung, Acting Deputy Assistant Secretary for South and Central Asian Affairs Shelly Seaver, and Minister of Youth Affairs and Sports Hon. Sunil Gamage opened the inaugural workshop of the Young South Asian Leaders Initiative (YSALI), a U.S. government-funded program aimed at empowering youth leaders, promoting peace, […]
High Commissioner Mahishini Colonne Presents Credentials To the Indian President Droupadi Murmu
High Commissioner of Sri Lanka to India, Mahishini Colonne, presented her credentials to the President of India, Droupadi Murmu, at the Rashtrapathi Bhavan in New Delhi on Tuesday 29 July 2025. The High Commissioner conveyed to President Murmu, the greetings and good wishes of President Anura Kumara Disanayaka. She recalled the visit of President Disanayaka […]
India to Facilitate Flights for Sri Lankans Leaving Iran
The Ministry of Foreign Affairs, Foreign Employment and Tourism informs all Sri Lankans in the Islamic Republic of Iran that the Government of Sri Lanka has made arrangements with the Government of India to assist Sri Lankans who wish to leave Iran by accommodating them in their flights. Accordingly, any Sri Lankans who wish to […]