What is your greatest fear? Losing my mind and not knowing that I’ve lost it What is the trait you most deplore in yourself? I don’t deplore What is the trait you most deplore in others? Lying and the inaccurate placement of apostrophe “s” On what occasion do you lie? When I want some peace and quiet Which living person do you most admire? Sue Knight – she is the first to use NLP (Neuro-Linguistic Programming) to improve the quality of the business world – Truly admire how she graciously impacts the world What is your greatest extravagance?  Photography, travel, shoes…in no particular ord ..read more

John Keells Holdings (JKH), a prominent conglomerate with interests across key sectors of the economy and ranked second in market capitalization as of mid-February 2024, demonstrated a robust recovery in its latest earnings report, according to a First Capital Research earnings report, with a message (perhaps for the greater economy?) in its title ‘Promising Recovery Delivered’. During the third quarter of the 2023/24 financial year (December quarter), JKH’s net profit surged by an impressive 50.7% year-over-year to Rs2,989.8 million. This remarkable performance was underpinned by across-the-b ..read more

Sri Lanka has concluded an FTA with Thailand, expanding its bilateral FTA portfolio which includes India, Iran, Pakistan, and Singapore. This is all we’ve managed since independence demonstrating an aversion to ingenuity and competition. Singapore has 51 FTA (bilateral and regional), according to the ADB’s Asia Regional Integration Centre, while India has 47, South Korea 46, Malaysia 36, Thailand 39, and Pakistan 35.   Sri Lanka finds itself at a make-or-break moment in its quest for economic revitalization. The path ahead demands bold action and strategic decisions. Embracing change ..read more

Sri Lanka’s recent removal of counterparty limits for access to central banks’ printed money as a standing facility is a mistake which will make banks overtrade and contribute to monetary and financial instability in the future. Standing facilities should be the last among the lender of last resort (LOLR) facilities. The more liberal the LOLR facilities are, the more unchanging the rate, the more external instability there will be in the future, and more bad loans will pile up in banks as stabilization policies are applied. Essentially, standing facilities, term or permanent injections allow b ..read more

Kumaratunga Munidasa, the prominent Sinhala writer of the previous century, once authored a children’s essay depicting the initial encounter between an elephant and a steam locomotive. The essay sarcastically portrayed the elephant’s overwhelming fear in the face of the train’s various aspects, including its horn, perceived as a terrifying roar; its remarkable speed; and its seemingly endless length, which the elephant perceived as a line composed of a hundred elephants. The elephant pondered over the train’s potential diet, harbouring a deep-seated fear of its own life being at stake, and spe ..read more

Rohan Goonetilleke–Managing Director and Chief Executive of Hayleys Fabric PLC–shares insights into the fabric maker’s focus on sustainability and societal impact to help it thrive in a challenging global industry.  Established in 1994, Hayleys Fabric is a leading fabric manufacturer in Sri Lanka, known for its innovative knits and fabrics for global brands. In 2021, its acquisition of South Asia Textiles Limited made Hayleys Fabric Sri Lanka’s largest fabric manufacturer, offering end-to-end solutions from design to manufacturing.  With a deep commitment to social responsibility and ..read more

he ACCA Sustainability Reporting Awards 2023 celebrated companies dedicated to integrating environmental, social, and governance (ESG) considerations into their operations, highlighting their remarkable commitment to sustainability reporting. UNICEF Sri Lanka’s representative emphasized the importance of listening to children’s voices for shaping our planet’s future during the event. With diverse organizations across sectors competing for recognition, winners like Hayleys PLC and Ceylinco Life Insurance Limited showcased exemplary efforts, reinforcing the crucial role of sustainability in driv ..read more

Dinithi Ratnayake, Chairperson of SDB bank reflects on how gender empowerment and balance are fundamental for societal harmony, sustainable growth, and crucial for organizations of all sizes. Research shows that countries and companies embracing gender equality experience numerous benefits, including heightened workforce satisfaction, improved retention rates, and increased productivity. In this interview, she shares insights on how SDB bank exemplifies dedication to gender inclusion recognizing women’s pivotal role in economic growth. Through tailored financial products and collaborative part ..read more

Amidst challenges in talent attraction and retention for many organizations in the country, EY Sri Lanka remains optimistic about the economy and emerging opportunities, aiming to continue attracting the right talent and building fulfilling careers. While acknowledging the migration of skilled professionals and labour shortages in other markets, EY Sri Lanka focuses on developing the next generation of professionals through strategic initiatives, say Duminda Hulangamuwa, Country Managing Partner of EY Sri Lanka and the Maldives, and Anushka Tissera, Director – Talent, EY Sri Lanka and the Mald ..read more

Mano Gunasekera, General Manager of Sheraton Kosgoda Turtle Beach Resort shares insights into positioning the property for a resurgence in tourism. Sri Lanka’s tourism sector is witnessing a remarkable revival compared to previous years. 2023 saw a slow start with a total number of 210,000 arrivals in the first two months. Fast forward to January and February 2024, the year-to-date figure as of mid-February exceeds 320,000 arrivals. This growth trend indicates that 2024 is well on track to achieve the target of 2.3 to 2.5 million tourist arrivals by the end of the year, Gunasekera points out ..read more