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Don’t Go Breaking My Heart

By Faraz Shauketaly Sticks and stones may break my bones but names will never hurt me’ is an old adage usually used to suggest that whilst force may hurt one, words did not matter. This saying came to the fore especially this week, with significant changes at Leader Publications, owners of The Sunday Leader. Many [...]

Stage Set For FDI Inflows

Rupee, Interest Rate Stability, Reasons The exchange rate (ER) and the interest rate are stable, making it conducive for the economy to attract foreign direct investments (FDIs), a source told this newspaper on Monday (September 24). The ER which strengthened from Rs. 132 to Rs. 131 to the US dollar ($) in a week in [...]

Banks’ Loss, RFCs’ Gain

18% Credit Ceiling A representative of one of the island’s smaller banks told this newspaper that they were nearing their 18% credit growth ceiling and expressed concerns that this would compel borrowers to seek funding from the more expensive registered finance companies (RFCs) which however have no such limits imposed. RFCs unlike banks are not [...]

1st Impressions Don’t Count

The company which first made the personal computer, the “mouse” and the computer network system had their creations rejected because its chief engineer didn’t wear a jacket and tie when presenting his findings to the Group CEO.This was said by Freight Links International (pvt.) Ltd.’s Vice President Ravi Edirisinghe, speaking at a lecture organized by [...]

Import Substitution

The Sunday Leader business pages on its 16.9.12. issue carried an article about a leading beer manufacturer substituting rice for the seemingly traditional malt in its beer manufacturing process, thereby making a Rs. 800 million foreign exchange (forex) saving. This saving is all the more important, as, ipso facto, the heavy import expenditure the company [...]

Windies’ Stunning Collapse Sets Poser For Group

ICC World T20 Women’s tournament – West Indies vs Sri Lanka West Indies imploded in spectacular fashion to lose to Sri Lanka by five runs in a rain-affected match in Galle in the ICC World T20 Women’s tournament. The result has now left all four teams in group B with one win each from two [...]

Individualism Is Good

Acorporate leader gave a new dimension to “individualism” as opposed to team work at a CIMA conference on Monday (September 24). Nestle Sri Lanka’s Managing Director Alois Hofbauer speaking at this occasion said that Mozart was not created out of teamwork, neither were Leonardo da Vinci nor Einstein. “We do have to value single, individual [...]

$ 130 Mn. For Power

Asian Development Bank (ADB) is lending $130 million to help Sri Lanka expand the reach and quality of its electricity supply, with a focus on former conflict areas in the country’s north and east, a press release said. It will also improve transmission and distribution network efficiency and develop renewable energy in the country’s other [...]

Sudan, SL, Similarities

South Sudan’s secession on July 9, 2011 has translated for Sudan into the loss of a sizeable portion of its economic potential and a daunting challenge of adjusting to a permanent fiscal and external shock, the IMF in a press release said. Sudan’s economic conditions deteriorated in 2011, with non oil real GDP growth decelerating to 3.4% and [...]

Japan: Relax Immigration Policy To Grow

A continued relaxation of Japan’s immigration policy could be considered as a means of addressing its declining workforce. This was said by International Monetary Fund’s First Deputy Managing Director David Lipton, delivering a speech on the topic “Japan’s Growth Challenge-Special Case or Herald for the Future,” at Washington, D.C. on Wednesday (September 26). He said that [...]

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