USD 20 bn export target by 2020: Aiming to be mediocre

The government has a target to increase exports to USD 20 billion by 2020 (a doubling from 2011). This target is presented as ambitious. This insight argues the opposite.  The 2020 target is rather mediocre, and it’s aiming too low. Yet, even with such a low bar, it may still be out of Sri Lanka’s reach.

Future Lankan dollar-bond issuances to attract lower yields

The future Sri Lankan issuers will attract lower yields in the international capital markets, increasingly enabling them to tap into cheaper funds, according to a capital market expert.

Rubber products industry outlook strong despite low NR prices

It is accepted that the future of rubber industry is tied to the global economy. The consumption of rubber worldwide during the last 10- year period had between 3.5 and 4.0 percent annually and was in line with the increase of world GDP.

BOC announces Rs.8 bn debenture issue

The state banking giant, Bank of Ceylon (BOC) is planning to issue subordinated debentures up to Rs. 8 billion in mid-September, which is the second such debt issue within 12-months.

IFC to invest US $ 20mn in Cargills Foods

The International Finance Corporation (IFC), the  private sector investing arm of the World Bank, is planning to acquire an 8 percent stake in the Cargills group’s,...

Becoming an authentic leader takes mental discipline

He who knows others is wise: He who knows himself is enlightened.’ This statement by Lao- Tsu, philosopher and poet of ancient China, is a good opening point to begin this article.  Knowing ‘who you really are’, or being authentic and holding true to yourself in the most difficult moments.......

SL shifting towards premiumisation – Nielsen SL Chief

Sri Lankan consumers are increasingly becoming more brand conscious and are shifting towards premiumisation while their choice between international and local brand consumption is also getting narrowed, according to a top executive of a global market research firm.

Sri Lanka-Vietnam trade link established in Hanoi

The first ever Sri Lanka-Vietnam official trade mechanism went live in Hanoi this week (August 21). A six-member team led by Industry and Commerce Minister Rishad Bathiudeen is currently in Hanoi for the talks to setup this first official trade mechanism.

eBay entrepreneur millionaires – How world’s largest online shopping site changing business dynamics

Who doesn’t love eBay – where you can find just about anything and everything. You can buy designer handbags, cutting-edge electronics and vintage watches with a click on your computer and have it delivered to your door step, yes to Colombo too.

Sri Lanka’s June trade deficit contracts 35.3%

The ongoing export push by all sectors has supported the country’s external sector to continue narrowing its trade deficit, and in the month of June, the deficit contracted by as much as 35.3 percent to US $ 454 million but slowed from the previous month.

Land suitability evaluation for rubber in North and East

As the Ministry of Plantation Industries is promoting extension of rubber growing in the dry zone, particularly in the North and East of the country, it is important to discuss the subject of land evaluation and selection for rubber.

Special board for BoI firms in two months

A special board for the listing of the Board of Investment (BoI) firms in the Colombo Stock Exchange (CSE) will be set up within the next two months and six companies have already expressed interest in going public.

FDIs in 1H up 51% to US $ 817mn

The much needed foreign direct investments (FDIs) to the country during the first half of this year (1H14) has risen by as much as 51 percent to US $ 817 million over the corresponding period of last year, Sri Lanka’s Investment Promotion Minister said.

BoI inks FDI promotion agreement with Japan’s largest bank

Sri Lanka’s apex investment promotion body, the Board of Investment (BoI),

Tourism statistics: Dimensions of Awareness and Comparisons

Recent arrivals data show continued momentum in overseas tourism demand, which, if sustained will result in stronger than expected growth in 2014.

Slow private sector credit growth: Causes and entrepreneur views

By Sri Lanka’s private sector credit growth slowed to 2 percent year-on-year (YoY) in June 2014 despite the record low policy rates and low inflation. However, Sri Lanka’s gross domestic product (GDP) continues to grow at a healthy space as the first quarter (2014) GDP growth reached........

Do you have what it takes to be a good leader?

Today’s business executives may come in many shades and colours: sales executives, marketing executives, key account executives, human resources (HR) executives, account executives and scores of others. They seem to have little in common. They differ in sex, age, educational standards and experience.

Hybrids boost July vehicle registrations

Motor car registration figures for July show a significant increase with 2,551 registrations, compared to 2,256 in June and 2,305 year-on-year (yoy), with 827 brand new cars composing the figure, according to JB Securities’ market research.

Sri Lanka holds rates steady even as credit growth slows

Sri Lanka’s Central Bank yesterday kept policy rates steady at multi-year lows for a seventh straight month, as expected, despite private sector credit growth slowing further.

TPG to invest US $ 117mn in Union Bank

Ending a long wait, Union Bank of Colombo PLC (UBC) yesterday officially announced its mega investment deal with Culture Financial Holdings Ltd, an affiliate of TPG, a USA-based leading private investment with an asset base of US $ 59 billion.

ELECTRIC CARS AND USE OF LANKAN NATURAL GRAPHITE FOR LITHIUM-ION BATTERIES

It has been reported that multibillionaire Elon Musk, CEO of Telsa Motors is planning to set up a Giga factory for the manufacture of 500,000 electric cars by 2020 in the United States at a cost of US$5 billion.

Britannia plans to re-enter Lankan biscuits market

Britannia Industries Ltd, the Indian biscuit giant, is looking at viable expansionary plans to enter the Sri Lankan and Bangladeshi markets, according to Indian media reports.

Rubber out growing: Michelin’s success story

In an era of market liberalization, globalisation and expanding agribusiness, there is a danger that small-scale farmers face in participating in the market economy. Such farmers could therefore, become marginalized as large-scale farming becomes increasingly necessary for a profitable operation.

Explaining the mirage of GDP growth optimism

Optimism about Sri Lanka’s future growth abounded at the Ceylon Chamber of Commerce’s economic summit held last week. The running refrain was that Sri Lanka doubled its gross domestic product (GDP) per person between 2004 and 2009, will repeat that success by 2015 and from there go on.....

Car stereo technology that helps us use mobile phones

Many of us are drivers. We drive daily from home to office and vise-verse. We go on trips during our vacations or holidays; then we ought to drive long distances. Anyway these days, especially in Sri Lanka, one of the main causes of road accidents is using mobile phones while driving.

Excess liquidity to create property boom next year

Sri Lanka’s property prices which have stagnated for a long time is expected to rise rapidly starting next year, when the banking sector excess liquidity starts to feed through the system forcing interest rates down, a capital market expert forecasted.

Proactive SEC reverses controversial share sale

Capital market regulator, the Securities and Exchange Commission (SEC), yesterday in a historic move reversed a controversial share deal...

The benefits of good diplomacy

The politicization of the foreign service was discussed once again this week in Parliament with the JVP providing a list of the appointments...

Understanding what it takes to be a manager is not always easy

Many people - employers included - think that all it takes to be a manager is being the person with the most seniority or the best people skills.

Policy makers targeting auto trade:CMTA

Policy makers are using baseless arguments to target auto traders with successive policies, according to Ceylon Motor Traders Association Incoming Chairman Gihan Pilapitiya.