News
Minister Tharaka Balasuriya arrives in Delhi to attend BIMSTEC Foreign Ministers’ retreat
New Delhi, July 11 (ANI): The State Minister of Foreign Affairs of Sri Lanka Tharaka Balasuriya arrived in New Delhi on Thursday to attend the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) Foreign Minister’s Retreat.
External Affairs Minister S Jaishankar will host his counterparts for the 2nd BIMSTEC Foreign Ministers’ Retreat in New Delhi on July 11-12.
The Retreat will present an opportunity for the Foreign Ministers of BIMSTEC nations to discuss avenues to broaden and deepen cooperation in various sectors, including security, connectivity, trade and investment, people-to-people contacts, etc in the Bay of Bengal region and littoral, according to Ministry of External Affairs (MEA).
Foreign ministers and top officials from BIMSTEC nations, including Thailand’s Foreign Minister Maris Sangiampongsa, Nepal’s Foreign Secretary Sawa Lamsal, Bhutan’s Foreign Minister DN Dhungyel, and Myanmar’s Deputy Prime Minister and Foreign Minister U Than Swe have also arrived in the national capital to attend the retreat.
In a press release, the MEA said, “The Retreat will present an opportunity for the Foreign Ministers of the BIMSTEC countries to discuss, in an informal setting, avenues to broaden and deepen cooperation across various sectors including in the fields of security, connectivity, trade and investment, people to people contacts etc, in the Bay of Bengal region and littoral.”
The first edition of the BIMSTEC Foreign Ministers’ Retreat was held in Thailand’s Bangkok on 17 July 2023.
The MEA noted, “BIMSTEC brings together seven countries of South and South East Asia for multifaceted cooperation.”
BIMSTEC is a regional organisation that connects countries around the Bay of Bengal to promote economic growth, trade, and cooperation in areas like transportation, energy, and counter-terrorism. It aims to strengthen relationships and foster economic development among its member states, which include- Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand.
News
Sri Lanka, India caught in US-Iran ship crisis
By Shamindra Ferdinando
Iran has sought the Indian intervention, at the highest level, to provide lifesaving support to the crews of empty Iranian vessels stranded just outside Sri Lanka’s 12-nautical mile territorial waters off Galle.
Sources familiar with the issue said that Iran had brought the developing situation to the attention of New Delhi as the crews of almost 20 vessels, included Indian nationals. Sources stressed that the group of vessels that unloaded crude oil a couple of months back were now stranded within Sri Lanka’s Exclusive Economic Zone (EEZ).
The US Navy torpedoed an unarmed Iran frigate, returning from India, on 04 March, 2026, about 19 nautical miles off the Galle coast. The unprovoked attack killed nearly 100 Iranians.
The Iranian Embassy in Colombo has inquired from the Indian High Commission of their response to the situation, sources said. The US has issued a global warning against providing food, water, medicine and other services to the Iranian vessels. The outcome of Iran-India talks on the issue at hand was not known, though sources asserted India may not throw its weight behind Iranian efforts to address the issue.
Responding to The Island queries, sources said both Sri Lanka and India were in a dilemma due to the US warning. India couldn’t ignore the plight of the Indian crew members and the Iranian vessels in its backyard.
The Sri Lankan government remains tight-lipped about the vessels stranded in its EEZ. Our efforts to elicit a response from relevant authorities were in vain. In addition to Indians, there are Bangladeshis among the crew members. Iran has explicitly stated the responsibilities of the countries concerned to provide assistance in terms of international law.
The Iranian position was articulated by its Ambassador to Sri Lanka, Dr.Alireza Delkhosh, recently. In a special statement, Ambassador Delkhosh emphasised that in terms of the Convention on the Law of the Sea (Article 98) as well as SOLAS and SAR
Conventions, Sri Lanka couldn’t refrain from providing the needs of the Iranian vessels stranded in its EEZ.
SLMC leader Rauff Hakeem lambasted the NPP government in Parliament for failing to provide assistance to the Iranian ships. The former Minister alleged that the government was simply carrying out dictates of the US. He strongly criticised the way Foreign Minister Vijitha Herath was handling the issue.
News
Namal further remanded
MP Namal Rajapaksa, who is in remand custody over the controversial Airbus deal, was further remanded until October 27 by the Colombo Magistrate’s Court yesterday (13).
Colombo Chief Magistrate Asanga S. Bodaragama made the order after considering submissions by officers of the Commission to Investigate Allegations of Bribery or Corruption and lawyers representing Rajapaksa.
News
IMF projects Lankan economic growth to moderate amidst mounting global uncertainties
Sri Lanka’s economy is expected to sustain its recovery over the next two years, although growth is projected to moderate amid mounting global uncertainties, according to the International Monetary Fund’s (IMF) latest World Economic Outlook.
In its World Economic Outlook 2026: Resilience Under Strain, Urgent Choices, the IMF projects Sri Lanka’s economy to expand by 4% in 2026, slowing to 3.7% in 2027, following estimated growth of 5% in 2025.
Inflation, meanwhile, is forecast to rise to 5.3% in 2026 and 5.4% in 2027, reversing the average deflation rate of 0.5% recorded in 2025.
Unemployment is expected to remain steady at 3.9% throughout the forecast period.
The projections come amid growing pressure on the global economy from the ongoing conflict in the Middle East, elevated energy prices, geopolitical tensions and trade disruptions.
Sri Lanka’s external position is also expected to weaken, with the current account balance projected to shift from a surplus of 1.6% of gross domestic product (GDP) in 2025 to deficits of 0.5% in 2026 and 0.3% in 2027.
The IMF’s outlook points to continued economic expansion in Sri Lanka, but with slower growth, rising inflation and a narrowing external surplus giving way to current account deficits over the forecast period.
-
Features6 days agoThe Sri Lankan who made Scottish history
-
Sports6 days agoNissanka absence opens door for Sri Lanka’s young guns
-
News5 days agoNDB fraud Rs 60mn more than reported
-
News5 days agoRemoving monk’s robes matter for Sangha to decide: Mahanayake Theras
-
News6 days agoShiranthi R remanded until 13 Oct.
-
Features6 days agoFuture of Sri Lanka’s state university system: Should it be shut down and reopened?
-
News3 days agoSri Lanka escalates anti-graft drive with Shiranthi’s jailing
-
Latest News4 days agoFarhan, Sadaqat help Pakistan ace 183 chase to go 1-0 up
