Sri Lanka lost a rare opportunity to gain vital scientific knowledge on its dwindling marine resources after the UN Food and Agriculture Organization’s (FAO) research vessel 

Dr Fridtjof Nansen was denied permission to conduct a fisheries survey in Sri Lankan waters due to bureaucratic delays. The vessel, operated by Norway’s Institute of Marine Research (IMR), later proceeded to Bangladesh for its scheduled research work.

Ole Arve Misund, IMR’s Special Advisor on Sustainable Development, in an interview, stressed that Sri Lanka had missed out on crucial scientific data needed to understand the current state of its fish stocks. Since 2015,

Sri Lanka’s annual marine catch has dropped from 450,000 tonnes to around 300,000 tonnes, reflecting clear signs of overexploitation. Misund noted that such surveys are essential for building sustainable management strategies in a sector where contribution to GDP has already slipped from two percent to just one percent.

Despite this setback, Norway remains open to future cooperation, with discussions underway to bring the research vessel back to Sri Lanka by late 2026 or early 2027 through diplomatic and FAO channels.

Misund also welcomed Sri Lanka’s move to develop Standard Operating Procedures (SOPs) for foreign research vessels, noting that in the current geopolitical climate, countries must have clear and transparent frameworks to manage international cooperation in their waters.

The Norwegian expert further highlighted that Sri Lanka’s “blue economy” – spanning fisheries, aquaculture, shipping, and potential offshore resources  could play a transformative role in national development if properly managed. He pointed to Sri Lanka’s strategic location along major global shipping lanes and its potential in aquaculture, particularly shrimp farming, as key growth drivers.

However, analysts argue that Sri Lanka’s Marxist-oriented government, instead of focusing on critical economic opportunities such as fisheries and maritime resource management, has been disproportionately consumed with targeting opposition politicians and scoring political points.

This preoccupation, critics say, risks sidelining long-term policies that could secure food security, foreign investment, and sustainable livelihoods for coastal communities.

On pressing regional challenges, such as poaching by Indian fishermen, Misund suggested that Sri Lanka could strengthen its joint commission mechanism with India to manage disputes—similar to how Norway and Russia have maintained fisheries cooperation despite political differences.

While Norway’s own prosperity was built on oil exploration, Misund cautioned that Sri Lanka should carefully balance petroleum ambitions with investment in renewable energy, citing the accelerating impact of climate change. Solar power, he noted, represents a particularly strong opportunity for Sri Lanka.

Ultimately, the interview underscores a painful reality: Sri Lanka risks falling behind in harnessing its blue economy potential if governance remains mired in political theatrics instead of policy execution. The question is whether the government will continue chasing political opponents or seize the chance to rebuild the nation’s marine future.

The United States’ decision to impose a steep 50% tariff on most imports from India – covering garments, seafood, jewelry, and carpets  has shaken South Asian trade. India, which exports around USD 86 billion annually to the U.S., faces a major setback.

But for Sri Lanka, this disruption presents both a challenge and a rare opening to strengthen its export foothold in the world’s largest consumer market.

Former ambassador to Kenya, Kana Kananathan, told reporters that “Sri Lanka sees both peril and promise” in this new trade reality. With Indian goods suddenly far more expensive, U.S. buyers will inevitably seek alternative suppliers. Sri Lanka’s apparel, seafood, gems, tea, and even IT services could become attractive substitutes, provided the country positions itself strategically.

“American firms are already scouting for new supply chains in the region. If we move quickly, Sri Lanka can capture market share and even attract fresh U.S. investment into export industries,” Kananathan said.

However, the opportunity is not without risk. Sri Lanka’s export industries are still constrained by high production costs, limited capacity, and heavy dependence on imported raw materials. Without immediate reforms and incentives, competitors such as Vietnam and Bangladesh could outpace Sri Lanka in capitalising on India’s tariff-hit.

Adding to the challenge is the political climate at home. The newly elected government has yet to announce any coherent trade or tariff policy. Instead, its early days have been dominated by high-profile corruption investigations targeting former ministers and even a past president.

Analysts warn that while accountability is important, failure to focus on urgent economic policy risks letting this trade opportunity slip away.

Kananathan stressed that Colombo must act with urgency. “This is the right time to roll out targeted incentives tax breaks, concessional loans, simplified export approvals, and dedicated export-ready zones.

At the same time, the government should launch a global promotion drive to position Sri Lanka as the natural alternative to India for U.S. buyers.”

 Trade diplomacy will also be critical. Securing stronger ties with Washington, while carefully managing relations with India, Russia, and China, will determine whether Sri Lanka can sustain these gains.

“The door has opened  but it won’t stay open forever,” Kananathan warned. “If Sri Lanka mobilises investment and scales up production quickly, this could be a game-changing moment. If not, others will step in, and Sri Lanka will lose yet another opportunity.”

The Commercial Bank of Ceylon PLC has become the first Sri Lankan bank to achieve a market capitalisation exceeding USD 1 billion, a milestone celebrated with the ceremonial ringing of the bell at the Colombo Stock Exchange (CSE) yesterday.

Commercial Bank Chairman Sharhan Muhseen, Managing Director/CEO Sanath Manatunge, members of the board, and senior management joined CSE officials at the event, marking what the Bank described as a defining moment in its growth journey.

The bank’s market capitalisation crossed the USD 1 billion threshold on 19 August 2025, when its share price rose to Rs.196.75, compared to Rs.144.75 at end-December 2024. This achievement positions Commercial Bank as the third listed Sri Lankan company to reach billion-dollar territory.

“This milestone transitions us into the league of large-cap companies, strengthening our visibility in global capital markets and paving the way for inclusion in institutional portfolios and index funds,” Chairman Muhseen said. “It enhances our access to capital and credit markets, enabling us to pursue innovation, expand opportunities, and create greater shareholder value.”

CSE Chairman Dimuthu Abeyesekera hailed the achievement as a boost to both the market and the country. “Commercial Bank now joins just two other companies on the CSE to cross this threshold. Every billion-dollar company strengthens market credibility, widens investment appeal, and places Sri Lanka more prominently on the global investment map,” he noted.

CEO Sanath Manatunge highlighted that the bank’s success reflected investor confidence and the resilience of its business model. “We have always aimed for equitable growth—balancing national priorities, customer aspirations, and shareholder value creation. This recognition is the outcome of our long-term commitment to delivering sustainable results,” he said.

Commercial Bank’s rise comes on the back of strong financial performance. In the second quarter of 2025, it became the first private sector bank in Sri Lanka to surpass Rs.3 trillion in assets, supported by an 8.88% Group-level and 8.66% Bank-level growth in the first half of the year.

The bank has also been ranked the second most valuable brand across all Sri Lankan sectors, and the most valuable private sector bank brand in 2025, by global brand valuation agency Brand Finance.

Commercial Bank holds a series of “firsts” in the sector: it was the first local bank to be listed among the world’s Top 1000 banks, is the largest private sector lender and SME financier, and is Sri Lanka’s first 100% carbon-neutral bank. It also operates the widest international footprint among local banks, with operations in Bangladesh, the Maldives, Myanmar, and Dubai, alongside its islandwide network of branches and digital platforms.

The U.S. Embassy in Sri Lanka, together with the Central Cultural Fund’s Maritime Archaeology Unit, will host an exhibition and symposium from September 3 to 5 at the BMICH Cinema Lounge, Colombo, showcasing the documentation and preservation of artifacts from the Godawaya Shipwreck — one of Sri Lanka’s most significant maritime heritage sites.

The initiative also underscores the Indo-Pacific’s crucial role in maintaining peace and security, while safeguarding sovereign rights — a shared priority for both the United States and Sri Lanka.

The exhibition will open to the public at 11 a.m. on September 3, and will remain open from 10 a.m. to 5 p.m. on September 4 and 5.

A Parliamentary delegation from Sri Lanka, led by Health and Mass Media Minister and President of the Sri Lanka–India Parliamentary Friendship Association, Dr. Nalinda Jayatissa, visited India from August 26 to 30 at the invitation of the High Commission of India in Colombo.

The delegation comprised Plantation and Community Infrastructure Deputy Minister Sundaralingam Pradeep, MPs Rauff Hakeem, Ravi Karunanayake, G.G. Ponnambalam, Sivagnanam Shritharan, J.C. Alawathuwala, Dr. Kavinda Heshan Jayawardhana, Thanura Dissanayake, Ruwanthilaka Jayakody, Sunil Biyanwila, Riyas Farook, Hiruni Wijesinghe, Ambika Samivel, Dewananda Suraweera, Chandima Hettiaratchi, Champika Hettiarachchi, Sudath Balagalla, Gayan Janaka and Hansa Abeyrathne, along with senior Parliamentary officials.

The programme included engagements with the Lok Sabha and Rajya Sabha, visits to the Chambers and Parliament Library, and discussions on areas such as the role of media in India, the Parliamentary committee system, higher education, public health, and Parliamentary privileges and ethics. The delegation also visited the Centre for Excellence in Health and held discussions with officials of the Federation of Indian Chambers of Commerce and Industry (FICCI).

A key highlight was a meeting with Speaker of the Lok Sabha Om Birla, who stressed that such exchanges would further strengthen bilateral relations between India and Sri Lanka, particularly in the fields of Parliamentary cooperation, health, media, and education.

Minister Jayatissa expressed gratitude for the warm hospitality extended by the Parliament of India and reaffirmed Sri Lanka’s commitment to enhancing Parliamentary diplomacy and fostering stronger people-to-people ties between the two nations.

Several spells of showers will occur in the Western and Sabaragamuwa provinces and in Kandy, Nuwara-Eliya, Galle and Matara districts.

Showers or thundershowers may occur at a few places in Uva province and in Ampara and Batticaloa districts after 2.00 p.m.

Strong winds of about (40-50) kmph can be expected at times over Western slopes of the central hills and in Northern, North-central and North-western provinces and in Trincomalee and Hambantota districts. The general public is kindly requested to take adequate precautions to minimize damages caused by strong winds.

The sun is going to be directly over the latitudes of Sri Lanka during 28th of August to 07th of September due to its apparent southward relative motion. The nearest places of Sri Lanka over which the sun is overhead today (30) are Vankalei, Omanthai, Vedamakilankulam, Kelabogaswewa and Thiriyaya about 12.11 noon.