Questionable governance when loss-incurred CB has made a profit transfer to Government

Published : 12:01 am  March 2, 2015  |  Category: Columnists, W. A. Wijewardena  |  2 Comments  |  6,245 views  |  
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Massive losses incurred by Central Bank in 2013 A very vital piece of information relating to the Central Bank which has been missed by many has been the incurrence of a massive loss amounting to Rs. 24 billion in its ordinary operations during 2013. This loss has further been increased to Rs. 39 billion when its comprehensive operations are also taken into account. These figures, arrived at by preparing the accounts of the Bank in terms of International Financial Reporting Standards or IFRSs, are slightly at variance with the requirements for calculating profits as laid down in the Monetary Law Act enacted as far back as 1949. Yet, for assessing the solvency and the performance of the Bank,... 

10,000 TEU plus ships continue to omit South Asian ports

Published : 12:00 am  March 2, 2015  |  Category: Columnists  |  1 Comment  |  525 views  |  
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10,000 TEU plus ships continue to omit South Asian ports Ultra large container vessels of 10,000 TEU plus except for a few loops continue to omit South Asian ports which is of concern. The CHKYE Alliance of Coscon, Hanjin, “K” Line, Yang Ming and Evergreen, will revise its nine service Europe (including Mediterranean) – Far East portfolio to take effect as from next April. Alongside significant up scaling of capacity across the board, there is the usual tinkering of port rotations where ports in South Asia have been omitted by vessels with a capacity of 10,000 TEU plus. For the specific North Europe route, the package of six services in total remains intact, with ports of call given below.      NE2... 

Serious play for Sri Lankan professionals

Published : 12:00 am  March 2, 2015  |  Category: Ajantha Dharmasiri, Columnists  |  Leave a Comment  |  391 views  |  
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I usually write about newly-published books and their relevance to Sri Lanka. This time it is about an ‘old’ book yet highly relevant to us. I enjoyed reading it and thought it is very relevant to Sri Lankan managers. This is particularly true in the era of imagination, innovation and implementation. Today’s column is a glimpse of what ‘Serious Play’ is all about.   Overview Innovation is key to sustained success. It is not just planning. A high octane creativity surge should be around the organisations. ‘Serious Play’ tackles the goals and pitfalls of modelling. It focuses on the diverse roles of modelling, and on the interplay between simulation, communication, and innovation.... 

2 March 1815: The darkest day of Sri Lankan history

Published : 12:00 am  March 2, 2015  |  Category: Columnists  |  Leave a Comment  |  761 views  |  
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Exactly 200 years ago, on 2 March 1815, entire Sri Lanka became totally a colony of another country. Sri Lanka was ruled by several kings as an independent nation for nearly 2,350 years. Certain areas were under foreign power for some period but not the entire country. Since colonisation, especially the hill country introduced as Kandyan Kingdom was administered independently even during the reign of Portuguese and the Dutch. The attempts of Portuguese and Dutch to capture upcountry became a total failure. In 1796, Britain took over the power of coastal area of Sri Lanka ruled by the Dutch. With the capture of coastal area, British rulers made every effort to capture the Kingdom of Kandy. In... 

Cry-babies should wipe their tears and get back to class

Published : 12:00 am  February 28, 2015  |  Category: Columnists  |  5 Comments  |  625 views  |  
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  It’s somewhat comical if not disgraceful to see intelligent, mature and knowledgeable people with grand academic credentials behave in the most puerile manner when lot is expected, especially at a time when the nation is impatiently seeking results in the aftermath of a major socio-economic trial that impacted most Sri Lankans in an adverse manner. It included a gargantuan heist, accomplished with immaculate precision by the brothers. The dreary legacy also accompanied major lapses in good governance. People were reeling with high inflation and a steadily depreciating rupee insidiously eating into the purchasing power. We‘re still not out of the woods. The road is long and the servants... 

Learning from Indian Constitution

Published : 12:00 am  February 28, 2015  |  Category: Columnists  |  1 Comment  |  203 views  |  
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The Government of Maithripala Sirisena is contemplating amendments to the Constitution and the public is eagerly awaiting details. Meanwhile, developments in the Eastern Provincial Council with possible union of Muslim with Tamil members are sending tremors of possible amalgamation of Eastern and Northern Provinces in the future. Also the promise made to the Indian Prime Minister by the former Sri Lankan President as 13+ is being watched by interested parties. Normalisation after 30-year war Questions are being asked of the rationale of stationing large contingent of armed forces in the Jaffna Peninsula after the defeat of LTTE and the possibility return of lands occupied by the forces to their... 

Is transformational CSR possible in Sri Lanka?

Published : 12:02 am  February 27, 2015  |  Category: Columnists  |  1 Comment  |  399 views  |  
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CSR Lanka, the latest organisation to emerge on the social responsibility front, has some very ambitious plans to change the way our businesses look at social obligations. They repeatedly talk of transformational CSR. However, what it really means from a Sri Lankan context is still in somewhat murky waters, and has to be further discussed and worked out, as this new entity is just getting their feet wet in this CSR business. CSR Lanka Chairman Chandula Abeywickrema, a banker by profession in his previous life, says that transformative CSR is a dire need in our country because there are many elements on a macro level that seem to be ignored by the corporate sector. “CSR today is very inward... 

Need for a new labour market strategy

Published : 12:01 am  February 27, 2015  |  Category: Columnists, Dinesh Weerakkody  |  Leave a Comment  |  377 views  |  
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Workers in Sri Lanka – File photo     ng countries like Sri Lanka will have to prepare for further downside risks with the growing debt problems and the growth problems in Europe and the slowdown in Asia. Slower growth is already visible in weakening global trade and commodity prices. The key to improving labour market competitiveness in the economy lies in raising human resource capabilities; that is, to make appropriate investments in human capital through higher education and professional training in order to more efficiently generate and manage new technologies. In this new era of intensified globalisation and international competition, we can no longer rely on cheap labour... 

ICT: The silent revolution platform

Published : 12:00 am  February 27, 2015  |  Category: Columnists  |  Leave a Comment  |  378 views  |  
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It is after some time that I decided to come back to writing. I wrote some 170+ articles, for a weekly column from 2010 to 2013 and then stopped as it became too hard to find time for it. Today, I managed to pen some ideas. It’s about the change that happened in the last few months in Sri Lanka and also the things I believe should happen in the future. Things have changed. Things have changed significantly. The Government has changed, the President has changed. Good governance has become the talk of the town. Have we won? Are we winning? I of course was a supporter of the ‘Change’. I believe many of my age and background took that stance. Many supported silently, and some did so more openly. I... 

Urban development: from curse to opportunity

Published : 12:00 am  February 27, 2015  |  Category: Columnists  |  1 Comment  |  288 views  |  
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Urbanisation, despite its smooth evolution in Sri Lanka, is inevitable. A real change of mind must be initiated to consider the opportunity of positive economic, social and environmental changes it involves and finally move away from its image of monster that should be held in chains.     The urbanisation of the world is a powerful but worrisome phenomenon. 2008 was a turning point in world history: according to the UN survey, one human out of two was living in a city. In Sri Lanka, however, things are quite different. The latest data shows that only 15% of Sri Lankans live in a city; thus making the island one of the least urbanised countries in the world. Cities are spread out, densities... 

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