Fashion
Sri Lanka’s central bank keeps overnight policy rate unchanged
The bank had trimmed its benchmark interest rate by 25 basis points in May to support growth.
The Central Bank of Sri Lanka recently kept its overnight policy rate unchanged at 7.75 per cent considering both global and domestic developments.
GDP grew by an annual 4.8 per cent in H1 2025, and inflation may hit its 5-per cent target by mid-2026.
The 2025 GDP growth target is 4.5 per cent.
Core inflation is also expected to pick up, and stabilise thereafter around the headline inflation target.
A statement by the bank said that gross domestic product (GDP) expanded by an annual 4.8 per cent in the first half (H1) this year, with inflation expected to hit its target of 5 per cent by mid-2026.
Reflecting strengthening domestic demand, core inflation is also expected to pick up, and stabilise thereafter around the headline inflation target. Medium term inflation expectations remain anchored around the inflation target, the statement said.
The country is targeting 4.5 per cent GDP growth this year.
The bank’s monetary policy board feels the current monetary policy stance will support steering inflation towards the target of 5 per cent.
Headline inflation based on the Colombo consumer price index (CCPI) turned positive in August this year, ending eleven months of deflation.
A delegation of the International Monetary Fund will be in Colombo soon to conduct another round of review.
Fibre2Fashion News Desk (DS)
Published
November 12, 2025
Following the success of its first showroom, staged in Riyadh during the local Fashion Week in October 2025, the Milan-based trade show for cutting-edge fashion, White Milano, with the support of Saudi Arabia’s Ministry of Culture and now also its Ministry of Tourism, has become an official partner of the forthcoming Riyadh Fashion Week, scheduled for October 2026.
“Saudi Arabia’s Ministry of Tourism will in turn partner with White in Riyadh to support efforts to invite buyers and fashion professionals from around the world, with the goal of making Riyadh the epicentre of fashion and a premier tourist destination,” a statement said.
The news was announced during a roundtable dedicated to strengthening relations between Italy and Saudi Arabia, held as part of Tourise 2025, the Global Tourism Summit in Riyadh, at which a $113 billion investment plan was unveiled to drive the future of the global tourism ecosystem. Brenda Bellei Bizzi, CEO of M.Seventy, represented White Milano at Tourise, an event also committed to fostering connections between fashion, art, and tourism through innovative projects and global collaborations.
Leading the Italian delegation was Italy’s Minister of Tourism, Daniela Santanchè, who attended alongside numerous leading names of Made in Italy, including Acque e Terme di Fiuggi, Alpemare, Arsenale, Eurobuilding, Ferrovie dello Stato Italiane, ITA Airways, Mangia’s, MSC Crociere, Nicolaus Group, Sicis, Technogym, Venini and, indeed, White Milano.
“The meeting underscored the importance of consolidating collaborations between the institutions and the economic and cultural players of the two countries, marking a significant moment of international dialogue and cooperation aimed at promoting relationships, beauty, culture, and creativity as engines of sustainable development and instruments for shared economic and cultural growth,” the statement continued.
Riyadh Fashion Week 2026 therefore aims to present itself as a cutting-edge platform where fashion, art, design, and beauty can come together in a shared narrative, generating value for participating brands and for the country’s entire creative and tourism ecosystem. “White Milano will play a leading role,” said Brenda Bellei Bizzi. “Riyadh is undergoing a period of major transformation, and our group aims to support this evolution by establishing a permanent, operational local office to drive the business development of our client companies.”
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A Trio of Crises Converge
The shockwave began in late August ****, when Washington’s tariff surge on Indian goods took effect, lifting total duties on many categories to as high as ** per cent and detonating peak-season planning. Overnight, United States (US) programmes out of India had to be re-costed, dual-sourced, or abandoned. Negotiators had earlier explored cutting the rate to roughly ~** per cent, but those talks did not yield a deal; planners must treat ** per cent as current law until changed. The impact extends beyond apparel into footwear, gems & jewellery, furniture and chemicals.
Published
November 12, 2025
Personal care business Bombay Shaving Company has closed a Rs 136 crore funding round, led by Sixth Sense Ventures and made up of primary and secondary infusions, as it eyes a potential initial public offering.
“Backing Shantanu and the Bombay Shaving Company team again feels like coming full circle for us at Sixth Sense,” said Sixth Sense Ventures’ CEO Nikhil Vora in a press release. “From day one, we’ve believed in founders who challenge convention and Bombay Shaving Company has done exactly that – we believe the brand is now ready to define the next chapter in India’s consumer story.”
Bombay Shaving Company recently reported a net revenue run-rate of over Rs 550 crore and achieved PAT (profit after tax) profitability. The business has also doubled its performance compared to the 2025 financial year.
“Thrilled to have Nikhil and Sixth Sense double down, especially with their new fund,” said Bombay Shaving Company’s founder and CEO Shantanu Deshpande. “Focusing on fast-evolving consumer needs, designing never-seen-before high quality products at competitive prices, and building brand remains core to what we do. We intend to continue this performance and take the company public soon. Idea is to do it sooner rather than later and carry the retail investor on our growth journey.”
Shantanu Deshpande also participated in the Bombay Shaving Company funding round along with the Patni Family Office, GII, and high net-worth individuals. Notably, celebrity cricketer Rahul Dravid joined the round as a marquee investor.
“Building brands which people trust to take sharp metal to their face is non-trivial,” said Bombay Shaving Company’s co-founder and COO Deepak Gupta. “We have delivered market beating growth and consumer love and will continue to focus on getting better every day. We have not even scratched the surface of India’s deep markets.”
Bombay Shaving Company specialises in grooming solutions for Indian men and women and also runs the brand ‘Bombae.’ The business has an omni-channel presence across India and plans to widen its retail presence, deepen its retail reach, and invest in capabilities and brand-building.
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