Business
ADB announces financial support package to help Asia and Pacific
The Asian Development Bank (ADB) has announced a financial support package to help its developing member countries (DMCs) mitigate the economic and financial impacts resulting from the conflict in the Middle East.
“ADB will deliver rapid, flexible, and scalable assistance to help countries manage immediate pressures and strengthen long-term resilience, notably fast-disbursing budget support and trade and supply chain finance to secure the import of essential goods, now including oil,” said ADB President Masato Kanda. “This builds on our strong track record of supporting Asia and the Pacific through periods of global uncertainty.”
ADB has ample resources to safeguard existing and planned operations, while expanding emergency support in line with DMC needs, including utilizing its countercyclical lending buffer.
The bank is closely monitoring global market developments and their potential implications for economies across Asia and the Pacific, particularly regarding energy price volatility, inflationary pressures, and external account balances.
The latest ADB analysis indicates that disruptions to shipping routes have already increased costs and delivery times, while supply risks extend beyond energy to key industrial inputs such as petrochemicals and fertilizers, with serious implications for agriculture and food production. Tourism- and remittance-dependent economies face compounding vulnerabilities beyond these initial shocks. Furthermore, the conflict is increasing uncertainty and tightening financial conditions across the region, putting pressure on currencies and capital flows.
In response, ADB is ready to deploy timely financial and technical support to help DMCs manage risks, maintain macroeconomic stability, and protect vulnerable populations. There are two main components to ADB’s intervention. The first is fast-disbursing budget support to help DMCs facing heightened fiscal pressures, notably the use of the bank’s Countercyclical Support Facility to help governments stabilize their economies and mitigate the impact of shocks on the lives and livelihoods of those most at risk.
The second is ADB’s Trade and Supply Chain Finance Program (TSCFP), which supports the private sector to ensure critical imports, including energy and food, continue to flow. The bank has decided to reactivate support for oil imports under the program on an exceptional basis for this limited period. This decision acknowledges that economies and people across the region are being severely affected by the rapid surge in oil prices and supply chain disruptions.
ADB has begun discussions with all severely affected DMCs on possible immediate support and will continue to work closely with governments, development partners, and the private sector to ensure coordinated and effective responses to maintain economic stability and protect the poor and most vulnerable.
ADB is a leading multilateral development bank supporting sustainable, inclusive, and resilient growth across Asia and the Pacific. Working with its members and partners to solve complex challenges together, ADB harnesses innovative financial tools and strategic partnerships to transform lives, build quality infrastructure, and safeguard our planet. Founded in 1966, ADB is owned by 69 members—50 from the region.
Business
AAC looks towards a future of vertical mobility in Sri Lanka
The Automobile Association of Ceylon (AAC) is looking beyond the traditional boundaries of mobility and road safety toward the future of mobility through sustainable developments in vertical mobility applications under the global guidance of the Fédération Internationale de l’Automobile (FIA).
AAC President Mr. Dhammika Attygalle believes AAC has the potential to contribute sustainable and proven systems, regulatory understanding, and international mobility frameworks toward developing Sri Lanka’s future mobility landscape while supporting the country’s broader economic development.
Representing Sri Lanka at the recent FIA Regional Drone and Vertical Mobility initiative held in Nepal was AAC Executive Committee Board Member Indula Sumithraarachchi, who participated alongside regional delegates and international mobility experts discussing the applications of vertical mobility systems and evolving regulatory frameworks covering mobility integration, safety, aviation and legal regulations.
“As mobility technologies evolve globally, we see vertical mobility as a natural extension of future mobility ecosystems. We believe vertical mobility is connected to sustainable areas not limited to future urban mobility, transport and logistics, infrastructure integration, safety frameworks, disaster and emergency response, and environmental efficiency,” he stated.
Drones are already being commercially utilized in Sri Lanka for dronegraphy (photography and videography using drones), agriculture, surveying and mapping, events, and marketing. However, it is important that greater attention is given toward safety standards, operational protocols, and aviation regulations, licensing, approvals and career professionalism as drone pilots within Sri Lanka in order to make these technologies safer and more accessible to the public.
International mobility experts increasingly recognize drones as part of a wider vertical mobility ecosystem operating alongside aviation and respective local regulatory frameworks. Experts explain that drone systems are helping countries establish regulatory structures, safety standards, technical expertise, aerial management systems, and operational frameworks that may eventually support broader future mobility technologies.
For AAC, the relationship between drones and vertical mobility represents a wider future mobility framework involving how people, services, safety, infrastructure, information, and transport systems may operate in more connected, intelligent, and efficient ways beyond conventional road-based transportation.
For decades, AAC has played an important role in Sri Lanka’s mobility sector through road safety advocacy, motoring assistance, tourism support services, driver awareness initiatives, and public mobility education. The association has continuously contributed toward improving safe mobility practices for Sri Lankan road users and motorists.
AAC now aims to position Sri Lanka within these evolving international mobility conversations while ensuring that future mobility development remains safe, responsible, and aligned with international standards.
The association also believes collaboration between regulators, aviation authorities, educational institutions, private sector innovators, and international mobility organizations will become increasingly important as future mobility ecosystems continue to develop globally.
Through FIA-supported international engagement and regional collaboration, AAC hopes to contribute toward building awareness and understanding of future mobility opportunities while ensuring Sri Lanka remains connected to emerging global transportation developments.
As mobility increasingly moves toward smarter, interconnected, and technology-driven systems worldwide, AAC’s initiatives into vertical mobility reflect its broader vision of supporting safe, progressive, and future-ready mobility solutions for Sri Lanka and future generations.
Business
Vietjet Air announces Colombo – Ho Chi Minh City route
Vietjet Air, Vietnamese new-age hybrid airline, has announced its first direct service connecting Colombo to Ho Chi Minh City at the Sri Lanka – Vietnam Trade, Investment and Tourism Cooperation Forum. The announcement took place in the presence of General Secretary and President of Vietnam To Lam, Prime Minister of Sri Lanka Harini Amarasuriya, and senior officials from both countries.
This is the airline’s first direct service between Sri Lanka and Vietnam, supporting the airline’s international expansion while contributing to stronger economic, trade, tourism, and people-to-people ties between the two nations.
The Colombo – Ho Chi Minh City route is expected to commence in August 2026 with four round-trip flights per week. Travelers from Colombo will soon enjoy affordable fares and seamless connectivity to Vietnam’s leading tourism and business hubs, along with convenient access through Vietjet’s extensive international flight network to major destinations across the Asia-Pacific region, including Australia, Japan, South Korea, China, and beyond.
Business
SDB bank and Hayleys Mobility forge strategic partnership to advance sustainable mobility and private vehicle leasing
SDB bank has entered into a strategic partnership with Hayleys Mobility Limited through the signing of a Memorandum of Understanding, reinforcing the bank’s commitment to expanding access to structured mobility financing while advancing its broader sustainability banking agenda. The collaboration brings together two established institutions to support customers seeking leasing solutions for private vehicles, with a notable emphasis on electric vehicles as part of a more future-focused approach to transportation.
The MoU was signed recently at the Hayleys Mobility office in Union Place, in the presence of senior representatives from both organizations. Representing SDB bank Kapila Ariyaratne, Executive Director and Chief Executive Officer, Manoj Akmeemana, Deputy Chief Executive Officer, Chitral De Silva, Chief Business Officer, Lahiru Ekanayake, Head of Leasing and Tharanga De Silva Chief Manager, Business Banking were participated. Hayleys Mobility Limited was represented by Managing Director Hasith Prematillake, Director Roshani Dharmaratne, Mr. Panduka Rathnayake – General Manager Finance, and Mr. Suraj Chularathne – Assistant General Manager.
The partnership is designed to expand access to private and sustainable leasing solutions across Sri Lanka, while also responding to growing interest in cleaner and more responsible mobility choices. By placing special focus on electric vehicle leasing, the initiative reflects SDB bank’s recognition of changing customer preferences and the importance of supporting more sustainable transport options through accessible financing.
In addition to supporting conventional private vehicle financing, the collaboration enables customers to benefit from a more integrated experience that brings together vehicle selection and financing under a single proposition. Through the combined reach of SDB bank and Hayleys Mobility, the partnership is expected to improve accessibility and convenience for customers across the country, including professionals, self-employed individuals, business owners and other private vehicle buyers looking for reliable, structured leasing solutions.
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