US Dollar Pauses Rally as Middle East Tensions Support Safe-Haven Demand 
Asian Currencies Hold Steady as Middle East Tensions Boost US Dollar, Oil Concerns 
European Stocks Slip as Earnings, UK Inflation and ECB Decision Keep Investors on Edge 
ASEAN Ministers Warn Middle East Conflict Threatens Regional Stability and Energy Security 
Nasdaq Drops as AI Earnings, Oil Surge and Middle East Tensions Weigh on Wall Street 
Gold Climbs Above $4,000 as Middle East Tensions and Fed Outlook Drive Safe-Haven Demand 
US-Iran Conflict Escalates as Gulf Attacks Threaten Global Oil Supply 
US Dollar Climbs to Weekly High as Middle East Tensions Lift Treasury Yields and Safe-Haven Demand 
Asian Stocks Rise as Oil Retreats on Iran Ceasefire Hopes Ahead of Key AI Earnings 
Oil Prices Extend Four-Day Rally as U.S.-Iran Conflict and Red Sea Threats Raise Supply Fears 
Pakistan Seeks $10 Billion U.S. Exchange Stabilization Fund to Boost Forex Reserves 
US Stock Exchanges Face Earnings Test as Trading Boom Meets Crypto Competition 
Gold Price Surges Above $4,100 as Middle East Tensions Boost Safe-Haven Demand 
South Korea Q2 GDP Beats Forecasts as AI Chip Exports Drive Growth 
Houthi Naval Blockade on Saudi Arabia Escalates Iran Conflict, Threatens Global Oil Supply 
Asian Stocks Rally on AI Spending Optimism as Middle East Tensions Push Oil to Six-Week High 
Japan will resume funding for stalled projects in Sri Lanka, generating $1.1 billion in revenue over the next five years, following a $10 billion debt restructuring deal.
Japan to Restart 11 Stalled Projects in Sri Lanka, Expected to Generate $1.1 Billion Over Five Years
Tokyo's envoy to Sri Lanka announced on July 24 that Japan will resume funding for all stalled projects. According to Reuters, this is the first such announcement since the island nation finalized a $10 billion restructuring agreement with its official creditors.
Ajith Abeysekera, an official from the finance ministry, informed reporters that 11 initiatives will be restarted, generating $1.1 billion in revenue over the next five years.
As part of its efforts to revive its economy following a severe foreign exchange crisis in early 2022 that resulted in a foreign debt default, Sri Lanka initiated discussions earlier this year to resume suspended projects with Japan.
Bilateral Creditors Agree to $10 Billion Debt Restructuring for Sri Lanka, Projects to Restart
Last month, bilateral creditors, including Japan, China, and India, agreed to a $10 billion debt restructuring. This agreement allowed Sri Lanka to postpone repayments for four years and save $5 billion.
At a ceremony with finance ministry officials, Mizukoshi Hideaki, Japan's ambassador to Colombo, announced that water sanitation, healthcare, and other infrastructure projects, as well as the expansion of Sri Lanka's primary international airport, will be restarted.
Sri Lanka is still required to finalize a preliminary agreement with bondholders regarding restructuring $12.5 billion of debt in anticipation of the International Monetary Fund (IMF)'s third review later this year.
Colombo secured $2.9 billion in IMF lending last year, and Sri Lanka's economy is anticipated to expand by 3% in 2024.
After a severe financial crisis triggered by a record shortfall of dollar reserves and a significant debt, the island's economy experienced a 7.3% decline in 2022 and a 2.3% decline the previous year.
In an unexpected move to accelerate economic recovery after the crisis, Sri Lanka's central bank reduced interest rates by 25 basis points on July 24.
