Sri Lanka’s political crisis: Can people’s verdict be reversed?

The Local Government elections held on February 10, 2018 was to elect 8,293 members to 341 local authorities (24 municipalities, 41 urban councils and 276 divisional councils – Pradeshiya Sabas). This is the largest election held so far in Sri Lanka in one day where 15.8 million voters were eligible to cast their votes under a mixed system where 60 percent of members will be elected using the first –past –the –post voting

Sri Lanka at 70: Looking back and forward

Like many Sri Lankans across the country, I joined Sri Lanka’s 70th Independence Day festivities earlier this month. This was undoubtedly a joyful moment and proof of the country’s dynamism and stability. At 70, Sri Lanka has accomplished a lot in its seven decades as an independent nation. 

Interest in LNG fires up again, but the market’s different now

LAUNCESTON, Australia: If you were looking for signs that the liquefied natural gas (LNG) merry-go-round is starting to spin a little faster, the announcement of a planned massive expansion in Papua New Guinea is ample evidence.

Natural disasters: The great equalizer

A landmark study co-authored by a Sri Lankan economist has found that income inequality at district level in Sri Lanka falls when natural disasters strike, which presents key takeaways for how policymakers should respond to disaster relief in the future.

Towards a knowledge-based economy Start with quality STEM teachers for every child

Deepani is a Grade 10 student who loves mathematics and science. Her parents are delighted and encourage her to continue in these fields, assuring her that she will have a bright future. But Deepani is worried that she is not learning all that she should – her teachers in both subjects are not the best and at times, Deepani has been unable to clarify the doubts in certain areas.

How do deepening global, regional value chains affect national export performance?

We tend to discuss the benefits of regional trading blocs such as the Association of Southeast Asian Nations (ASEAN), North American Free Trade Agreement (NAFTA) and European Union (EU) simply from the perspective of low trade barriers and ensuing greater volume of trade among the members. However, trade dynamics in the world’s most vibrant trading blocs do not stay at the expansion of trade volume but rather dive deep down into the multila

Five ways to make Asian cities more inclusive

The World Bank estimates that 54.3 percent of global population now lives in cities and this proportion will continue to rise.

Investing with a social conscience

Investors worldwide are increasingly becoming aware about the environmental, social and governance (ESG) footprint of companies. Think about energy efficiency and positive community contribution or, at the other extreme, oil spills and corporate scandals. As these issues impact 

Advisors galore to assist govt. in selling Hilton, Hyatt

Fifteen local and foreign property and financial consultancy firms and investment bankers have forwarded proposals for the role of transaction advisor to the government on the sale of Hilton Colombo and the Grand Hyatt Colombo hotels.

Eyes wide shut - US$1.8bn Indian bank fraud that went unnoticed

The Punjab National Bank branch in south Mumbai sits just down the road from both the Bombay Stock Exchange and the Reserve Bank of India, at a physical centre of one of the world’s fastest growing major economies.

Can Colombo reinvent itself as a wetland city?

Outside the boundaries of the Diyasaru Park, traffic is locked bumper-to-bumper but inside is a wetland paradise. A long walking path winds its way through 60 acres of carefully restored wetlands, complete with narrow streams covered in pink lotus flowers in bloom.

Looming LPG price crisis amidst upward trend in global market

A permanent shift in the international prices of liquefied petroleum gas (LPG) has been taking place during the past few months fuelled mainly by the price fluctuations of the Saudi Aramco contract price (CP) of LPG. The Saudi Armaco CP is the key global benchmark of LPG price regulations in Arabian Gulf and Asian region and by February 2017, the CP price rose by 20 percent in comparison to the price range recorded in the previous month. 

How can economists contribute to business strategy?

The traditional role played by economists is restricted to forecasting economic issues, outlining the ways in which they can be economically tackled and finally contributing towards economic policy-making. Hence, one can criticize that economists play an advisory role rather than actively contributing to the production process in the economy. 

Changing int’l trade dynamics of Sri Lanka

Sri Lanka’s trading pattern has been such that the two largest markets for its exports are the United States of America (USA) and United Kingdom (UK). Regionally, Europe is the single largest market for Sri Lanka’s exports.

From potato eaters to world leaders in agriculture

Van Gogh’s famous painting of ‘Potato Eaters’ depicts a family of poor peasants seated around a dinner table eating their staple fare. The artist confessed that this work is deeply reflective of the hard work that Dutch peasants have to do to earn a bare meal. Van Gogh frequently painted the harvest 

Banks must offer wider product suite to maximize digitalisation’s benefits: expert

Following is an interview with international trade finance expert Gary Collyer.  The International Chamber of Commerce Sri Lanka (ICCSL) will be hosting an international trade finance seminar on ‘Past Challenges and Future Opportunities in Trade Finance’. The one-day 

Financing agriculture value chains in digital age

Agriculture plays a critical role in economic growth, poverty reduction and food security. The demand for agricultural commodities is increasing, as the world’s population surges to an anticipated nine billion by 2050.

How smartphone security ushers in a new age of banking

First it was passwords. Then it was fingerprints. Now it is iris and facial recognition. The latest features on your smartphone are a key part of the evolving banking experience. 

US investor community hears a strong case for Sri Lanka in New York

The Invest Sri Lanka Investor Forum organised by the Colombo Stock Exchange (CSE) and Securities and Exchange Commission of Sri Lanka (SEC) in association with the CSE member firms, listed companies and supported by Asia Securities (event sponsor) and the Oxford Business Group 

Sri Lanka’s poor will benefit from more economic freedom

Sri Lanka’s poor stands to gain big benefits if more economic freedoms are given, while the businesses and foreign investors will also be encouraged, the participants of the Economic Freedom Summit by Advocata Institute, a free market think tank, said.

Leasing Association holds AGM

The 15thAGM of the Leasing Association of Sri Lanka (LASL) was held on 29th of September  at the Renuka Hotel, Colombo. 

Govt. keeps on making policy blunders: Tea Board Chairman

Sri Lanka Tea Board Chairman Rohan Pethiyagoda at the 163rd annual general meeting of the Planters’ Association of Ceylon, held recently.

Doubling down on GVC-linked FDI

  ]Asia and the Pacific has long been the world’s top destination for foreign direct investment (FDI), propelled by increasing trade and investment openness in the region. From 2001 to 2016, Asia’s share of global FDI increased from 12 percent to 28 percent.

Mission accomplished? OPEC banishes contango

“There is no doubt that the oil market is moving in the right direction,” the Organisation of the Petroleum Exporting Countries noted with satisfaction in its most recent bulletin published  on Wednesday.

Twenty years on: Asian crisis and regional financial arrangements

Proposals for an Asian Monetary Fund (AMF) dominated corridor conversations at the 1997 International Monetary Fund (IMF)–World Bank annual meetings in Hong Kong. The Asian financial crisis had erupted a few months earlier and was engulfing the region.

South Asian cities face US $ 215bn-worth flood risks

NEW DELHI: As global attention focused on hurricanes Harvey and Irma, more than 41 million people across South Asia battled floods and displacement.

Veteran perspectives on replanting, glyphosate and 150 years of Ceylon Tea

It has been over 150 years since Sri Lanka witnessed the establishment of its very first tea plantations and while the crop and the island have since become synonymous with one another, today Sri Lanka’s tea industry faces challenges on an unprecedented scale. 

Fuelling business with biomass energy

Mahir Brothers in Katugastota, in the Matale District, is one of Sri Lanka’s leading exporters of spices, namely nutmeg, pepper, cloves and cocoa. For the past three generations, Mahir Brothers has tried to maintain the consistency of its produce, sometimes travelling far distances in order to dry its spices when the rains inundated the Matale District.

What can businesses learn from Royal-Thomian?

Only a handful of Sri Lankan companies have been in existence for over 100 years. However, for 138 consecutive years, the Royal-Thomian has been played, including through two world wars. On the verge of the 138th Royal Thomian, MTI Consulting reflects on some of the thought leadership work carried out by its CEO Hilmy Cader, in particular what businesses and brands can learn from the experience of the Royal Thomian.

Professor Mehta explains paradox of constitutionalising socio-economic rights

Talks of constitution-making have again come to the fore. We, Sri Lankans, have seen our fair share of constitution-making since the independence. But it’s arguable whether such a requirement really came from the citizenry or the rulers wanted new constitutions to cement their political power. After all, constitutions don’t really matter; what matters is people we elect to safeguard them.