Get down now to the business of development

Now that the executive and legislature have all that they asked for it is time to get down to the most critical aspect of business – meaningful action!

Small savings will trigger unexpected benefits

Savings itself is an education. A person who has practised saving will develop many virtues, such as patience, thrift, financial discipline, order, planning, self-control, etc. without much effort. Spending less or being thrifty is not a mere concept. It is a habit to be developed by each person. It helps to gain financial security at individual level while contributing to the development of one’s country.

Pandemic recovery in urban settings: Planning for the unplanned

Urbanisation has intensified many of the most pressing global challengesover the last few decades. Today, responding to the COVID-19 pandemic has become top priority for the vast majority of towns and cities across the world, which account for over 95 percent of total reported COVID-19 cases according to the UN-Habitat COVID-19 Response Plan.

Banning cattle slaughter: Dilemma of ethics and reality

The Prime Minister’s proposal to ban cattle slaughter has been apparently endorsed by the government MPs. Have they considered in depth its consequences on animal and milk production? Moreover, the self-deceptive and ridiculous rule of banning selling of meat but not fish on Poya days only portrays the wisdom of our legislators! Perhaps they believe that fish are mere edible, inanimate, floating objects!

Envisioning next era of smart plantations

In recent times, a great deal of ink has been spilled over the sport of identifying problems in Sri Lanka’s plantations sector, assigning blame. This is an approach that does little to solve the real underlying challenges that have held our industry and our nation back for far too long.

Three ways Sri Lanka can deal with COVID-19-induced poverty

Global poverty is expected to increase for the first time in over 20 years, due to the COVID-19 pandemic. Up to 115 million people worldwide will fall into extreme poverty this year.

A long, uneven and uncertain ascent

The COVID-19 pandemic continues to spread with over one million lives tragically lost so far. Living with the novel coronavirus has been a challenge like no other but the world is adapting.

Are licensed finance companies the missing link in Sri Lanka’s financial inclusion quest?

Financial Inclusion is essential for continuous and sustainable economic development, according to IFC. This is no exception for Sri Lanka despite showing strong numbers in bank penetration.

‘DFCC One Loan’ encompasses all financial requirements

DFCC Bank is renowned as a national icon, with a legacy of over 65 years of contributing to the nation. With DFCC it is not just about banking but it believe in partnerships and it is most heartening to note that these relationships have lasted throughout generations. In the aftermath of the global crisis DFCC Bank has forged ahead with financial solutions enabling customers to overcome challengers thereby contributing to the Economic revival of

Reviving Sri Lanka’s economy beyond COVID-19

The Sri Lankan economy is likely to face a contraction in 2020, as a direct result of the COVID-19 pandemic but there is potential for this to be followed by a sharp V-shaped economic recovery.

Financial literacy among undergraduates – Research findings of concern

The proud Sri Lankan history has been nurtured by the scriptures and other systems since the visit of Arahat Mahinda and the literacy rate of Sri Lankans has been aptly proved by their ability to grasp modern technology in relation to main fields such as engineering, accounting, management and other disciplines.

Sri Lanka economy caught between a rock and a hard place: Yet a stitch in time could save nine

Like many countries, Sri Lanka continues to face a daunting economic landscape. The World Bank projects economic contraction of -6.7 percent, ADB -5 percent and IMF -4.6 percent for 2020. Even the most pessimistic of these projections is not unfavourable when compared with other countries in the region and beyond.

Adstudio.Cloud organises Programmatic Colombo 2020

Programmatic Colombo, the first event of its kind, was successfully held in Sri Lanka recently, organised by Adstudio.Cloud, at The Kingsbury Hotel, Colombo.

Urgent need to raise foreign currency funding

It was reported that the trade deficit to end-August 2020 was US $ 3.8 billion, compared with US $ 4.8 billion to end-August 2019. There is no doubt that the current reforms will provide solutions to some of the structural issues in the economy. Yet, there is a need to address the country’s emerging macroeconomic vulnerabilities.

Maternity benefits are not a ‘cost’ and a ‘burden’ on employer

Following is a response to the article titled ‘The case for state-supported maternity leave benefits in Sri Lanka’, published on September 24, 2020, in Mirror Business, by Verité Research.

Lankan capital markets prove resilient to new COVID-19 cluster fears, says Asia Securities Research

Investors must not react impulsively to the news of the emergence of the new COVID-19 cluster in Sri Lanka. In a special report, leading stockbroking firm Asia Securities (Pvt.) Ltd, exploring the impact of COVID-19 resurgence in several regional emerging economies as well as developed economies, notes that equity markets have remained stable through the second waves of COVID-19.

Sri Lanka has gas resources sufficient for 30 years: Energy Minister

Cabinet approves gas and oil policy An agency to be established before calling for bids Talks are underway to acquire oil tanks leased out to India Energy Minister Udaya Gammanpila spoke to Daily Mirror about the oil and gas policy of Sri Lanka and the potential for offshore gas extraction. The minister is confident that Sri Lanka will become an oil and gas-producing nation. Experts from the interview: What are your plans for the development of t

Weathering disasters: Why it pays to be prepared

The world economy is predicted to contract by -4.9 percent in 2020 (International Monetary Fund, 2020). The performance of individual countries during the COVID-19 pandemic varies widely.

Stax helps corporates through uncertain times using data analytics

During these unprecedented times, businesses need data to forecast potential outcomes and navigate market turbulence and project ‘the bottom’. If it’s a corporate or a credit situation, companies are trying to figure out how bad things will be and modelling out the data is critical.

Reform of international debt architecture is urgently needed

The COVID-19 pandemic has pushed debt levels to new heights. Compared to end-2019, average 2021 debt ratios are projected to rise by 20 percent of GDP in advanced economies, 10 percent of GDP in emerging market economies and about 7 percent in low-income-countries.

Why sale of single stick cigarettes must be banned

The National Authority on Tobacco and Alcohol (NATA) has announced the drafting of legislation to ban the sale of single cigarettes this month. It is a welcome move, given that Sri Lanka lags behind 107 countries that have banned the sale of single stick cigarettes

Breaking boundaries: The Hemas way

Diversified conglomerate Hemas Holdings PLC is a business entity that stood out for making some bold decisions over the years. One such decision that caught attention was in 2013, when the family-managed company offered the Group CEO position to Steven Enderby, a complete outsider and the latest is the appointment of Kasturi Wilson to the driving seat, making her the first female Group CEO of a public quoted conglomerate in the country.

Proactive policies to combat malnutrition in Sri Lanka

Child malnutrition is still a prevalent challenge in Sri Lanka. More than one in five children (under five years old) are underweight and one in six babies are born underweight.

Role of special economic zones in Sri Lanka’s development

Special Economic Zones (SEZs) can be defined as ‘geographically delimited areas within which governments facilitate industrial activity through fiscal and regulatory incentives and infrastructure support’ (UNCTAD 2019, p. 128).

Understanding Indo-Lanka economic relationship

Sri Lanka-India relations are multifaceted and are characterised by strong civilisational links that span many millennia. Currently, trade and economic relations are structured around an institutional and legal architecture, which includes regional platforms such as SAARC and BIMSTEC, as well as bilateral agreements such as the Indo-Sri Lanka Free Trade Agreement (ISLFTA), the bilateral investment promotion and protection agreement, the double ta

The case for State supported maternity leave benefits in Sri Lanka

In Sri Lanka, employers are required to bear the full cost of providing maternity leave benefits (MLBs) to their employees for 12 weeks.

Regional collaboration can help SA nations rebuild and strengthen tourism industry

After months of empty beaches and deserted hotels in Maldives, tourism operator Ahmed Waheed says he is eager to help affluent travellers trade their COVID-19 masks for snorkeling or scuba gear.

Proposed ban on cigarette stick sales needs rethinking

Recent media reports cites the Tobacco Regulatory Authority making an overture to a ban on single sticks of cigarettes, stating it is a gateway to other narcotic drugs and continuous smoking. The proposal adds that retailers would only be allowed to sell cigarette packs containing 20 sticks to customers.

A foray into HR of mid-2020s and beyond

It has been nearly 70 years since Peter Drucker coined the phrase ‘human resource’. Human resources management or HR was a significant innovation over the more ancient practice of personnel management, which was essentially about job definitions, hiring and employment record-keeping.

Why tourism industry will be the last to recover from pandemic

The tourism industry was one of the World’s largest and fastest growing industries just 9 months ago. Today, amidst the throes of the COVID crisis, it is all but devastated and gasping for breath.