Category: World
Federal Reserve Easing Cycle Will Be Mild and Slow by Historical Standards: Fitch Ratings
The US Federal Reserve monetary policy-easing cycle that is about to begin will be mild and slow compared with previous Fed rate-cutting episodes, Fitch Ratings says in its latest Global Economic Outlook report. Services inflation in the US is still too high to be consistent with inflation returning to target on a sustained basis. Fitch […]
United States Strengthens Partnership with Sri Lanka Through Additional USD24.5 Mn Development Agreement
The U.S. Embassy is pleased to announce an additional commitment of US $24.5 million (Rs 7.2 billion) from the American people to further our long-standing investment in the people of Sri Lanka and our partnership. The additional funding was announced during a visit to Sri Lanka by the U.S. Agency for International Development’s (USAID) Assistant […]
Sri Lankan Pharmaceutical sector eyes Vietnamese market
The Embassy of Sri Lanka in Hanoi, in collaboration with the Sri Lanka Export Development Board (EDB) organized a webinar on “Sri Lankan Pharmaceutical Industry” for Vietnamese pharmaceutical companies just prior to the Medipharm Expo 2024 in Ho Chi Minh (HCM) city. This was organized in order to raise awareness as well as to highlight the potential […]
Director General of UNESCO Audrey Azoulay to visit Sri Lanka
The Director-General of the United Nations Educational, Scientific and Cultural Organization (UNESCO) Audrey Azoulay will visit Sri Lanka from 16 – 19 July 2024 at the invitation of the Government of Sri Lanka. During the visit, Director-General Azoulay will call on President Ranil Wickremesinghe and will have meetings with Minister of Education Susil Premajayantha and […]
Growth and Scale Summit 2024: Learn from global experts online for free
The Global Growth and Scale Summit 2024 is poised to be a transformative event for business owners, entrepreneurs, and working professionals worldwide. Hosted by Shihan Sheriff, a 3X Amazon Best Selling and international award-winning author, this free global online summit will feature 45 global experts, each offering unique insights and expertise. The event is supported […]
Foreign Minister invites Japan to resume investment projects which are currently in pipeline
In an effort to strengthen economic ties, the Foreign Minister of Sri Lanka cordially invites Japan to resume the investment projects that are currently in the pipeline. Additionally, he warmly welcomes fresh investments from Japan across various sectors, including power, infrastructure (such as ports and highways), as well as the green and digital economy. Media […]
Federal Reserve should wait to reduce its policy rate until at least late 2024, recommends IMF staff mission
Despite the important progress to-date in returning inflation toward its 2 percent goal, the Federal Reserve should wait to reduce its policy rate until at least late 2024, concluding a 2024 Article IV Staff Mission, the IMF said. “This provides significant room for maneuver within the Fed’s mandate of price stability and maximum employment. Given […]
Foreign Minister Ali Sabry to undertake an Official visit to Japan
On an invitation extended by Japanese Foreign Minister Yoko Kamikawa, Foreign Minister Ali Sabry is scheduled to undertake an official visit to Japan from 01July 2024. During this visit, the Foreign Minister will engage in bilateral discussions with his Japanese counterpart which will focus on making further progress on the outcome of the latter’s official visit to Sri […]
Global growth stabilizing; but 80-pct population to see slower pre-COVID decade growth: WB
The global economy is expected to stabilize for the first time in three years in 2024—but at a level that is weak by recent historical standards, according to the World Bank’s latest Global Economic Prospects report. Global growth is projected to hold steady at 2.6% in 2024 before edging up to an average of 2.7% in 2025-26. […]
VIDEO: Earthquake in Indian politics – What cost Narendra Modi a landslide victory in election
Narendra Modi’s underwhelming victory in the Indian election has been described as an ‘earthquake in Indian politics’. India’s election results have sprung a surprise with the ruling BJP of prime minister Narendra Modi falling short of a majority. What are the top takeaways from these results?
Sri Lanka to establish a Resident Mission in Wellington, New Zealand
Following the decision by the Cabinet of Ministers to open a Sri Lanka High Commission in Wellington, New Zealand, an official delegation led by Director General, Overseas Assets Management & Development Division of the Ministry Pradeepa Saram, will visit New Zealand from 22-25 April 2024 to attend to matters related to the opening of the High […]
World Growth Outlook Improves, but Inflation Is Showing Persistence: Fitch Ratings
Near-term world growth prospects have improved and Fitch Ratings has raised its 2024 global GDP growth forecast by 0.3pp to 2.4% in its latest Global Economic Outlook (GEO) published today. This reflects a sharp upward revision to the US growth forecast to 2.1%, from 1.2% in the December 2023 GEO. The revision to the US […]