Much has been spoken of the Sri Lankan economy by different bodies including the guardians of the economy (the Central Bank and Government Treasury). There is constant backlash to the Government bringing out historical events while portraying a very bleak future, although the Government has taken corrective action to address any major economic catastrophe. The ...

I am shaking rocks! This was a claim made by the Minister of Sports (MOS) in a banner headline run in a recent news article. There is no doubt that he has certainly made a start. In what he claims is the biggest cleanup ever, he has dared to remove some big rocks; the reference ...

The 13th ministerial meeting of UNCTAD concluded last week in Doha, Qatar. This meeting was the first major UN ministerial meeting focused on trade and development since the 2008-2009 economic and financial crisis. At the end of the meeting, the ‘Doha Mandate’ setting out the conclusions agreed at the meeting on policy analysis and the ...

Sri Lanka, which was a low-income country (per capita income below $ 2,000) until a few years ago, has now reached lower-middle-income country status ($ 2,840). Of course, while Sri Lanka can be proud of this achievement, middle-income country status requires it to operate within a new paradigm. In the ’80s and to a lesser ...

By Cheranka Mendis While the rupee has been hitting record lows on a continuous basis for the past few months, the business community and general public have been abuzz, with speculation rife that a rupee crisis is taking place in the country. Gathered to discuss whether or not there is a rupee crisis and if ...

By Mani Shankar Aiyar It is curious but true that although from the time of Mahatma Gandhi leading the struggle for Independence to the present day there has been extensive recognition in India of the imperative of effective Panchayat Raj1 (local self-government) for both deepening India’s democracy and making its development processes “inclusive”, that is, ...

Sri Lanka’s May Day celebrations have long been hijacked by politicians and as with almost everything that falls into their hands, it has become twisted and meaningless entertainment. Distinctive red CTB buses flocked to Colombo on Tuesday carrying thousands of supporters for the Government, which pulled out all the stops to hold the biggest possible ...

The need for an integrated program on a war footingIn 2008, eight prizewinning economists were asked to list the type of projects which would do the most good for the most number of poor people, if they had an imaginary $ 75 million to spend. Half of their proposed projects involved nutrition. There has been ...

MAY Day is for the workers. Therefore it is the best time to take into account the hardships as well as duties that are the birth right, so to speak, of every worker. Sri Lanka is well-known for its pro-employee labour laws, which have been kept largely unchanged, during the last few decades. However, the ...

In recognising International Workers’ Day on 1 May, the Employers Federation of Ceylon (EFC) Director General Ravi Peiris has urged all stakeholders to embrace the change in the world of work. He also emphasised the need for progressive labour legislation if Sri Lanka is to successfully manage the inevitable changes in the world of work. ...

Sri Lanka’s Ambassador to Belgium, Luxembourg and the EU Ravinatha Aryasinha participating in a discussion on Sri Lanka held by the South Asia Delegation of the European Parliament in Brussels on Tuesday (24), has contrasted the pessimistic projections on Sri Lanka three years ago by some, including sections of the European Parliament, with what has ...

With the post war scenario unfolding overseas in a different form, Sri Lanka seems to be at the receiving end of a diplomatic quagmire. Most of the issues that beset the Government on the international front are of its own making. The Geneva resolution could have been avoided if there had been an effective diplomatic ...

Technology and Research Deputy Minister Faiszer Musthapha, who was among the Sri Lankan delegation to the UNHRC sessions in Geneva, says there are issues in any country when majorities and minorities live together. “Such issues can only be solved through dialogue. Any third party intervention makes the issues more complicated and totally destroys countries. Iraq, ...

Peradeniya Uni's Dr. Perera says exchange volatility is temporary and acceptable IMF's Mathai says no crisis but stability measures taken By Cheranka Mendis UNP MP Dr. Harsha de Silva yesterday made a compelling case that the ‘feel good’ party that the President Mahinda Rajapaksa Government tried to propagate among the people post-war was over, warning ...

Milinda Moragoda yesterday announced his resignation from the Colombo Municipal Council (CMC) at the meeting of the CMC Opposition Group. At the event Moragoda who was the Leader of the Opposition made a statement to explain his decision. The following are excerpts: During 30 years of war, the citizens of our city had to endure deprivation ...

Korea yesterday signed an agreement to extend $ 200 million support for Sri Lanka thereby giving a major boost for ties between the two countries. Witnessed by leaders of the two countries in Seoul an agreement for Korea’s Economic Development Cooperation Fund to provide US$ 200 million for the development activities in Sri Lanka was ...

The Sambhashana discussion organised by Transparency International Sri Lanka will focus on ‘The Rupee Crisis’ on 25 April at the auditorium of the Organisation of Professional Associations (OPA), Stanley Wijesundara Mawatha, off Bauddhaloka Mawatha Colombo 7 from 4 to 6 p.m. MP Dr. Harsha de Silva, Senior Lecturer of University of Peradeniya Dr. Prasanna Perera ...

The UNCTAD, in the present context, should focus on addressing the increasing and diverse challenges faced by the developing world. “My delegation welcomes the theme of this conference, with its focus on addressing development led-globalisation towards sustainable and inclusive development paths.  While globalisation was an important and positive phenomenon, it should not be encouraged ...

Sri Lanka should start thinking of real improvements rather than marketing magic, says Simon AnholtQ: Thank you for making time to discuss ‘Brand Sri Lanka’. In your view, on the principles of nation branding, what are the key issues that Sri Lanka must address? A: First of all, I have to stress that ‘nation branding’ ...

At the Pacific Asia Travel Association (PATA) Annual Conference in Kuala Lumpur last week, PATA CEO Martin J. Craigs committed the association to a four-year phase of ‘Next Generation’ action to underpin the 61-year old travel body’s relevance in the digital age. The CEO said aligned advocacy, mobile technology, business building events, and crisis management ...

Clarifies 2011 per capita GDP computation technically correct but given fall in Rupee’s value in 2012 Central Bank should have been honest with greater disclosure and putting data in context As per IMF staff report Net International Reserves in 2011 alarming low at $ 4 b; Net Open Position below $ 3 b; Short Term ...

The Central Bank, in its latest Annual Report, has downgraded its growth forecast for 2012 from eight per cent to 7.2 per cent. This is due to a combination of adverse global developments and the negative effects of domestic policy misalignments. The contractionary measures introduced to address the imbalance in the trade account (i.e. to ...

This is a summary of HSBC’s Global Economics Quarterly for Q2 2012 The foundations are weak With the US stock market up around 30% from its lows last autumn, with eurozone periphery bond yields tumbling through much of the first quarter and with the green shoots of an economic spring emerging here and there, it ...

Reuters: Sri Lanka will face a challenge in meeting this year’s budget deficit target as the recent monetary and fiscal tightening measures may hurt revenue growth, the island nation’s central bank chief told Reuters on Monday. The $59 billion economy has agreed with the International Monetary Fund (IMF) to target a budget deficit of 6.2 ...

When most Sri Lankans hear the name Truman, they think of an American president from a long time ago. However, for Laknath Gunathilake, the name Truman brings to mind the number one Public University in the Midwest, and the place he currently calls home. Nestled into the small town of Kirksville, Missouri, Truman State University ...

Last Sunday when the unknown Ajinkya Rahane scored 103 runs off just 60 balls at the M. Chinnaswamy Stadium in Bangalore, which helped the Rajasthan Royals to score a massive 195 runs at IPL season five, my mind went to just one ethos the IPL is all about – highlighting performance. It is how IPL ...

Sydney Morning Herald: Apr 11 – THE Australian man abducted in Sri Lanka over the weekend has contradicted the claims of the Colombo government, claiming it abducted him, and were it not for Canberra’s intervention he would have faced certain death. Premakumar Gunaratnam, a 42-year-old Sri Lankan left wing politician who moved to Australia in ...

Hundreds of millions of people, businesses and governments around the world unite each year to support the largest environmental event in history – Earth Hour.  For 42 years Earth Hour has been uniting people to protect the planet but it seems that Mother Earth has never been faced with a crisis as severe as it ...

By Smruti S. Pattanaik India’s vote in favour of the UN Human Rights Commission (UNHRC) resolution against Sri Lanka titled “Promoting reconciliation and accountability in Sri Lanka” was a well-calculated move to provide the required push for resolving the Tamil issue. The general perception is that the Indian decision was prompted by Tamil Nadu politics ...

The heads of state of BRICS countries met for the fourth time at their annual summit, this time held in Delhi. The original BRICS countries are Brazil, Russia, India and China with South Africa joining later on. These countries belong to the category now described as emerging economies. The BRIC countries together represent over 40 ...