Category: World
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 […]
Selection Process for New IMF Managing Director Begins
The Executive Board of the International Monetary Fund (IMF) has initiated the selection process for its next Managing Director. The announcement was made by the Board Coordinators, Afonso S. Bevilaqua and Abdullah F. BinZarah. The Executive Board has decided to follow an open, merit-based, and transparent process for the selection, mirroring the procedure used in […]
Red Sea Disruptions Benefit Shipping Companies’ Near-Term Profitability: Fitch Ratings
Global shipping companies’ short-term profitability will benefit from increased freight rates, which exceed the costs of re-routing following persistent attacks on commercial vessels in the Red Sea, Fitch Ratings says. We do not expect structural shifts in the shipping sector as a result of these disruptions. Nearly half of all cargo ships and tankers have […]
US Under Secretary Concludes Visit: Emphasizes Freedom of Expression for Transparent Governance
Liz Allen, the first U.S. Under Secretary of State for Public Diplomacy to visit Sri Lanka, concluded a historic three-day trip to Colombo (February 17-19), during which she interacted with young leaders, entrepreneurs, content creators, civil society, and journalists to reaffirm U.S. support for Sri Lanka’s economic recovery and long-term prosperity. In a meeting with […]
FAO’s Director-General Arrives in Sri Lanka to Inaugurate UN FAO Conference
FAO Director-General, Dr QU Dongyu, arrived on Sunday in Sri Lanka for a three-day visit to participate in the 37th Session of the FAO Regional Conference for Asia and the Pacific. Government Ministers and Heads of Delegations from as many as 46 Member Nations are gathering in Colombo for the event. Sri Lanka is hosting […]
Sri Lanka and Thailand to Sign Free Trade Agreement in February 2024
The 8th round of negotiations for the Sri Lanka-Thailand Free Trade Agreement (SLTFTA) concluded successfully on November 29th, paving the way for a historic deal to be signed in February 2024. The negotiations, co-chaired by the Chief Negotiators of both countries, Auramon Supthaweethum (Thailand) and K. J. Weerasinghe (Sri Lanka), saw both sides agree to […]