Chinese mercenaries are tightening security on Belt and Road

Chinese private security companies (PSCs) are increasingly going global. Not so long ago they focussed mostly on providing bodyguard services for China’s rich and famous and guarding facilities in China. But now, China’s growing global footprint has driven this sector to start operating beyond China’s borders.  

EPF needs governance overhaul to invest in Sri Lanka stock market

Sri Lanka’s Employees’ Provident Fund (EPF), a retirement fund of the private sector workers managed by the state, is about to re-enter the stock market, ending several years of inactivity, after it came under fire for being a dumping ground for both stocks and bonds.  

At IMF meetings, China’s globalisation agenda left behind in trade debate

Three days before U.S. President Donald Trump took office in January 2017, Chinese President Xi Jinping portrayed Beijing as the champion and defender of globalisation at the Davos World Economic Forum amid rising fears of trade protectionism.  

What value would CB think to stop depreciation – At Rs.200, Rs.250 or Rs.300?

In response to my article regarding the government and Central Bank abdicating their duty to support the rupee, the Central Bank, by its statement of October 10, 2018, has gone to embarrassing lengths to downplay its current inability to defend the rupee.  The bank has also indirectly suggest

Lankan stock market needs serious state intervention

The All Share Price Index (ASPI) decreased eight points or 0.14 percent to 5872 on Wednesday, October 10, from 5880 in the previous trading session and on Thursday, down to 5840. 

Invest Sri Lanka UK promo concludes with first-ever event in Scotland

The Invest Sri Lanka capital market road show organised by the Colombo Stock Exchange (CSE) in association with the Securities and Exchange Commission of Sri Lanka (SEC) concluded on a

Central Bank asserts role in financial system stability

The Central Bank of Sri Lanka (CBSL) is making the following statement in relation to the article titled “Rupee depreciation shows abdication of vital statutory duty by CB, Govt”, authored by former Central Bank Governor Ajith Nivard Cabraal, that appeared in Mirror Business on October 9.  

Budget 2019: Informal sectors must be included in tax net

The government gets set to unravel its fiscal policy plan for 2019 at a crucial juncture in time, as on the one hand it prepares for the much-anticipated elections at the end of next year and on the other, the Sri Lankan economy is under immense scrutiny and pressure to take bold and decisive steps to strengthen its place and course for the purpose  of development.

G-24 hopes to influence global agenda at IMF, WB Bali gathering: Mangala

Global finance and reserve bank chiefs will gather this week in Bali, Indonesia, for the annual gathering of the International Monetary Fund (IMF) and World Bank, amid the rising concern over trade war and risks of global economic crisis. Finance and Communications Minister Mangala Samaraweera is the Chair of the Groups of 24 (G-24) developing nations, which is active in lobbying international institutions on issues of concern in the global econo

Rupee depreciation shows abdication of vital statutory duty by CB, Govt.

As per the Monetary Law Act (MLA), it is a statutory duty of the Central Bank is to maintain “economic and price stability”. In so doing, the MLA requires the Monetary Board “to maintain the international stability of the Sri Lanka rupee”. Towards that end, the Monetary Board has to maintain an international reserve, which has to be “adequate to meet any foreseeable deficits in the International Balance of Payments&r

Potential of Indian Ocean – Historical antecedents, present strategic importance

It  was reported in the local  news media  on October 7,  2018 that Sri Lanka will host a regional conference on the future of the Indian Ocean on October 11, 2018, which is expected to bring together countries that surround the this great body of water where Sri Lanka holds a  pivotal location.  

CEOs should lead, promote openness, retain humility: N-able Chief

Be it chief executives, managing directors or heads of organisations or departments, instead of managing, one should always focus on leading their organisations with a sense of openness and retaining humility, N-able Managing Director and Chief Executive Peter D’Almeida said.  Delivering the inaugural speech o

US bond yield curve: Should we worry if it inverts?

In global economic growth, divergence across economies is widening. The US keeps posting robust expansion, with a whopping 4.2 percent of annualized quarter-on-quarter growth in 2Q 2018, the fastest since 3Q 2014. While Japan’s expansion picked up further in 2Q, the European Union’s was lacklustre, losing some of the steam gained from 2017. 

Demand growth and urbanisation fuel Sri Lanka’s retail sector

The rising demand and an accelerating population shift to major urban centres are driving activity in Sri Lanka’s retail sector, with a series of large-scale developments to launch in the coming months; however, the recent pressures on domestic spending power could curb the sales in the shorter term.

Dollar rally hurting Sri Lanka and other emerging markets

The Sri Lankan Rupee in the last eight weeks has taken a beating like many other Asian currencies as a result of the dollar rally.  The government rightly pointed out that many of the other currencies had taken a bigger beating. This week the rupee hit a fresh low of 169.05 on Wednesday on importer dollar demand, intervention by the Central Bank limited the fall.

Indo-Pacific big enough for both China and India

In a move that heralds greater bilateral cooperation, Chinese Defence Minister Lieutenant General Wei Fenghe paid his first visit to India in  August 2018. 

Rupee under pressure – How not to crack

The Sri Lankan currency (LKR) has weakened against the US dollar in 2018 (9.4 percent as at September 26, 2018) with close to 4 percent of the depreciation being recorded in the last two weeks. Currencies like the Indian rupee, Indonesian rupiah and the Philippines peso have also seen steep depreciation so far in 2018. The weakness is in the backdrop of adverse global and local factors.

Why stock market is irrational?

The stock market is a place where investors with different knowledge and experience levels gather and take their investment decisions for their best interests. 

How can Sri Lanka better protect its people against disasters?

Sri Lanka has a long history of coping with weather impacts.    About two thousand years ago, the country built one of the world’s first irrigation systems to control its water supply.

Rupee depreciation during MR’s 9 years was only 2.8% per year

The rupee depreciated by Rs.29 from 2005 to 2014 and the average year-on-year (YoY) depreciation of the Sri Lankan rupee was 2.8 percent per year. The official foreign reserves increased from US $ 2.7 billion to US $ 8.2 billion over the same period.

Right mindset vital to make climate change adaptation effective: expert

Sri Lanka has seen a historical increase in both the number and intensity of droughts, floods and geographic changes to vector borne diseases, coastal erosion, tropical storms, lightening, crop failures, and landslides.

Research-based inputs: Key to climate adaptation in Sri Lanka

Sri Lanka ranked in the fourth place among countries most affected by extreme weather events in 2016, according to the Global Climate Risk Index (CRI).  The average CRI for Sri Lanka for the last 20 years (1997-2017) was recorded as 48. 

Sri Lanka should inject sustainability into innovative strategies: experts

Sri Lanka, as a country and the business organisations in it should embed sustainability when drafting innovative strategies in order to become part of the solution to global warming, France’s INSEAD Business School Executive in Residence Dr. Ravi Fernando said. 

Firm-level analysis of manufacturing sector investments in Sri Lanka

Although foreign direct investment (FDI) inflows to Sri Lanka have ‘recovered’ in 2017, hitting the much-touted US $ 1 billion landmark, the underlying bottlenecks of poor ease of doing business, attracting the wrong ‘types’ of investments and policy uncertainty have prevented Sri Lanka from ushering in optimal FDI gains throughout the post-war period. 

Role of neoliberalism in UNP economic policies

The United National Party (UNP), the oldest political party in the country, recently celebrated its 72nd anniversary.   

Pulling back the curtain on privatization of Sri Lanka’s plantation sector

I have read with much interest the recent article where Dr. Romesh Bandaranaike has shared his “unique insights” of Sri Lanka’s plantations. At the outset, I totally disagree with

Technological innovation is game-changer for agricultural statistics

Improving the welfare of Asian farmers depends on strategically investing in collecting “good data”. Most of Asia’s poor live in rural areas and rely on agriculture as their main source of income.

Uber Eats will soon become integral part of Colombo’s vibrant food culture : rathod

Following is a brief interview with Bhavik Rathod - Head of Uber Eats India & South Asia on the launch of Uber Eats in Sri Lanka recently.  What is Uber Eats and why are you launching it in Colombo?

Smart cities can serve citizens better after significant rise in urbanization in Asia

With May’s major flooding in Ratnapura, a city in Sri Lanka, and its disastrous consequences still fresh in our minds, it reminds me of a similar occurrence, this time in the city of Buenos Aires.  

Tea industry should re-evaluate value chain, embrace technology: MAS CGO

Following is the keynote speech delivered by MAS Holdings Chief Growth Officer and Director Nathan Sivagananathan at the 19th annual general meeting of the Tea Exporters’ Association, held on August 31, 2018.