Five tips for small businesses to embrace digital disruption

Accelerated by COVID-19, the rapid shift to a much more digital world is having a profound impact on all aspects of our lives: how we shop, how we interact, how we work and how we do business.

Distance Education during and after COVID-19: Long road ahead for SL

In what has been recognised as the world’s largest educational crisis, the spread of COVID-19 has resulted in a record number of students being forced to stay away from schools and universities.

It’s the economy, stupid

By It was James Carville the political strategist behind Bill Clinton’s rise to the US Presidency who introduced the phrase “It’s the economy, stupid” to the lexicon of political campaigning. He made this comment to draw the focus of his campaign workers on the issue that truly mattered to the voters at that time.

Counting chickens: How the poultry industry delivers food security

Across Asia, the issue of food security perpetually hovers over numerous poor and working class households. Many global social organisations list malnutrition as a major regional challenge, with several estimating that Asia houses 67 percent of the world’s hungry.

Motor trade industry’s growth closely linked to national economy

One hundred years is a significant milestone in life. The Ceylon Motor Traders Association (CMTA) is one of the oldest trade associations in Sri Lanka and one of the oldest automotive associations internationally. The CMTA is affiliated to the Ceylon Chamber of Commerce, the senior trade chamber in Sri Lanka.

Sri Lanka’s declining GDP growth rate

The Sri Lankan economy is in dire straits owing to the strict lockdown imposed by the government from March 21st to May 9th to counter the Covid-19 pandemic.

We are well equipped to handle present crisis

This is part of the interview series titled ‘Mirror Business S&P SL2- Insights’ conducted in collaboration with the Colombo Stock Exchange (CSE). The interview features Commercial Bank of Ceylon PLC Managing Director S. Renganathan. Following are excerpts from the interview.

The myth: Self-sufficiency guarantees food security

The novel coronavirus which drove cities and countries into lockdown has now sparked anxiety over a possible food crisis given the increase in export and import bans and disruption of global food supply chains.

Trends and growth of Sri Lanka’s e-commerce industry

The e-commerce industry in Sri Lanka has seen a rapid development over the last year, with a large percentage of shoppers venturing on to the digital platform.

Leading corporates believe WFH is here to stay

It’s hard to draw positives from a global crisis such as COVID-19, one that has taken hundreds of thousands of lives and impacted millions more globally but the reality of crises such as this is that they are, more often than not, some of the greatest catalysts for global change.

ILO and EY assess key bottlenecks for private sector investments in Northern Province

Ernst & Young (EY) was commissioned to conduct an assessment on the key bottlenecks for private sector investments in the Northern Province in agriculture and fishery sectors, amidst significant progress made by the International Labour Organisation (ILO) and its constituents, implementing the LEED project since 2011 in the Northern Province of Sri Lanka.

Import controls - out of control?

As the COVID-19 virus forced much of the world into lockdown, the scale of interdependence and reliance on trade across nations was apparent by the global urgency to re-open economies as soon as possible.

How should governments regulate technology in post-pandemic world?

Even before the COVID-19 pandemic struck, a combination of technological breakthroughs had been rapidly reshaping the way we lived and worked.

India’s rising infections and falling economic growth

On 2 July 2020, India’s Ministry of Health announced 226,947 active cases of COVID-19, with 17,400 lives lost.

Trade policy for Sri Lanka’s post-COVID Recovery and refocus

The pandemic is still in its early stages but the economic fallout is likely to be far worse than the global financial crisis of just over a decade ago. Initial data points to the worst slump since the Second World War.

Reimagining global value chains after COVID-19

COVID-19 is exposing the vulnerability of global value chains (GVCs). GVCs contribute to rapid economic growth by enabling multinational corporations to increase their efficiency through fragmented, task-based specialisation. But they are now quickly spreading the negative economic impacts of COVID-19 from China to many other countries.

A better focus towards a digital economy to revive business landscape

ACCA members have always played a key role in assessing the financial implications and risks faced by Sri Lanka in any crisis and now with the COVID-19 pandemic, they are helping to guide organisations through this challenge and playing a critical part in business continuity and planning for recovery.

Reforms for our micro and small businesses

Last Saturday was the UN World Micro, Small, and Medium Enterprises Day, and in light of that, focus should be given to Sri Lanka’s small businesses and the challenges they face.

Ecommerce ecosystem –Example from China

This article is presented in appreciation of China, the world’s second largest economy that went through difficulties due to the epidemic outbreak and now in the process of recovery.

SOE sector: Promises of change on horizon?

With the harsh reality of a global recession slowly descending on Sri Lanka, questions about government expenditure and its allocation of resources have begun to dominate dinner table discussions. Fears of higher taxation to cover the losses earned and to sustain the blows from the impending recession, have started to emerge.

Global debt and economic recovery

International Chamber of Commerce Chairman Paul Polman speaking at a top-level UN summit last week noted that a US $ 5 trillion trade financing capacity will be needed in 2021, to restore global commerce to its pre-COVID-19 trend.

Renewed thinking and focus to revive SL tourism

Sri Lanka ticks all the boxes of an irresistible tourism destination but repeated uncertainties have kept the island nation off the itineraries of its target audience on and off, for decades.

Navigating through pandemic: Apparel sector confident of braving the storm

The start of the coronavirus (COVID-19) pandemic in China last December sent ripples across the global economy but it certainly took time to realise that even the strongest industries would receive a painful hit from the club.

Treasury and Central Bank should consider credit guarantees for COVID-19 distressed bank loans

Even though Sri Lanka’s economy has opened up, businesses are still recovering from the dual shock of the locally imposed curfew as well as the global fallback from the coronavirus. A vast majority of Sri Lankan businesses are in need of support if they are to survive the next few months.

Outgoing WB Country Director highlights strengths, opportunities, challenges ahead for Sri Lanka

Outgoing World Bank Country Director for the Maldives, Nepal and Sri Lanka Idah Z. Pswarayi-Riddihough speaks about the highlights of her four years in Colombo. She also shares her thoughts on the opportunities she sees for Sri Lanka and wishes the people of the country the very best as they contend with the impacts of the global pandemic.

Regional Plantation Companies celebrate 27th anniversary

The 27th anniversary of the establishment of Regional Plantation Companies fell on June 23.

Tobacco cultivation: A threat to Sri Lanka’s food security amidst COVID-19

The prolonged curfew and lockdown measures introduced to contain the COVID-19 pandemic exposed the vulnerability of Sri Lanka’s food system.

The economy: What needs to be done?

Giving solutions to economic problems is a task which should receive a high priority to resolve socio-economic problems of the public. Giving a higher income to the hands of the people would resolve most of the problems in the society.

Sri Lankan smEs need some introspection

Many small and medium-sized enterprises (SMEs) complain about lack of access to finance, lack of government support, insufficient customer preference for local products and services and so on. While these may be true, these are not the only reasons some SMEs are unsuccessful.

Rebooting the economy: Restoring travel and tourism in COVID-19 era

A harmonised set of industry-wide health and safety protocols are necessary for travel and tourism to recover.