Case study: Shantha’s story

Published : 12:00 am  January 31, 2014  |  Category: Opinion  |  Leave a Comment  |  238 views  |  

For the past 15 years Prof. Govindarajan has been bringing down scholars from the US. In 2013 the group of 60 American professionals had the opportunity to meet a beneficiary of microfinance. Here he relates the incident: The lady who met these executives was Shantha. Her story is at once heart breaking and inspirational. Shantha lost her parents when she was six years old. If you lose your parents when you are six years old and you are in a village, it means it is a death sentence and essentially you have lost your life support. Her siblings wanted to get rid of her and got her married young. Since she got married young, she was illiterate and had two kids when she was 20. Imagine when you have... 


Strategy, innovation and a $ 300 house

Published : 12:00 am  January 31, 2014  |  Category: Opinion  |  Leave a Comment  |  311 views  |  

By Sarah Hannan Prof. Vijay Govindarajan is a sought-after speaker on innovation and this week he is set to deliver a lecture on ‘Strategy is Innovation’ for the employees of MAS Holdings. During his visit to Sri Lanka Prof. Govindarajan spared a moment to share his experiences with the Daily FT, where he channels his expertise to crack the code on poverty and build a $ 300 house. Inspired by the likes of John F. Kennedy and Mahatma Gandhi, Prof. Vijay Govindarajan believes in thinking something outrageous which leads to a big idea. Citing examples from the two iconic figures, Prof. Govindarajan stated that John F. Kennedy and Mahatma Gandhi were able to inspire people and create a deep impact... 


Authoritarianism or democratic governance?

Published : 12:00 am  January 31, 2014  |  Category: Opinion  |  Leave a Comment  |  363 views  |  

By Friday Forum There has been, in recent times, public discussion in regard to whether our country is moving towards an authoritarianism that undermines democratic governance. The President, Ministers and Government spokespersons have consistently denied this allegation. They refer in particular to the recent elections in three provinces as indicative of a functional and vibrant democracy responsive to the needs of the people. Infrastructure development that has taken place is also cited. The recently-concluded CHOGM hosted by Sri Lanka is considered an indication that Sri Lanka has achieved significant international stature as a country whose governance follows Commonwealth values. These values... 


Global growth on the rise but risks remain, predicts IMF WEO

Published : 12:00 am  January 29, 2014  |  Category: Opinion  |  Leave a Comment  |  257 views  |  

IMF projects global growth at 3.7% in 2014, rising to 3.9% in 2015 Growth pickup stronger in advanced economies; higher external demand to benefit emerging markets Downside risks to global growth include low inflation in advanced economies Global growth is expected to increase in 2014 after having been stuck in low gear in 2013, says the IMF’s latest World Economic Outlook (WEO) Update. The IMF forecasts global growth to average 3.7% in 2014 ― up from 3% in 2013 ― and to rise to 3.9% in 2015. Global activity and world trade picked up in the second half of 2013, as anticipated in the October 2013 World Economic Outlook (WEO). In advanced economies, final demand has increased broadly as... 


Weeratunga briefs Geneva diplomats on progress in national reconciliation

Published : 12:00 am  January 25, 2014  |  Category: Opinion  |  Leave a Comment  |  381 views  |  

Secretary to the President Lalith Weeratunga who briefed Permanent Representatives to the United Nations in Geneva at the Palais des Nations on Tuesday (21 January) on ‘Progress in the reconciliation process in Sri Lanka’ has said the Government of Sri Lanka has done all that was humanly possible to implement the recommendations of the National Plan of Action on the implementation of the LLRC, since its approval by the Cabinet of Ministers in July 2012. Weeratunga, who chairs the Committee Monitoring the National Plan of Action on the Implementation of the National Plan of Action of the LLRC who informed his audience of the state the country was left in following a near 30-year terrorist... 


India’s decade of decay

Published : 12:00 am  January 25, 2014  |  Category: Opinion  |  Leave a Comment  |  548 views  |  

By Jaswant Singh Indian Prime Minister Manmohan Singh, who has been in office since 2004, recently held what was only the second press conference of his current five-year term, which is rapidly approaching an inglorious end. Betraying his yearning for approval, Singh told the assembled journalists that he hoped that history would judge his tenure more kindly than his political adversaries do. That outcome seems unlikely, at best. On the contrary, Singh’s once-great Congress party is now at a political impasse, from which it can escape only if it frees itself from its destructive dynastic leadership. After more than a half-century in government – much of India’s modern life as an independent... 


Secretary Defence meets religious dignitaries and civil society representatives in Eastern Province

Published : 12:00 am  January 25, 2014  |  Category: Opinion  |  Leave a Comment  |  556 views  |  

Secretary Defence and Urban Development Gotabaya Rajapaksa met religious dignitaries and civil society representatives in the Eastern Province at a function held at the Hotel East Lagoon in Batticaloa on 23 January. Secretary Defence was accorded a guard of honour upon his arrival at the Sri Lanka Air Force Station in Batticaloa and was received by the Commanding officer of the station Wing Commander G.S.N. Priyadarshana. Speaking at the event Secretary Defence attributed the major development activities and the economic boom of the region to the prevailing peaceful environment. He said that the Eastern region which was also severely affected by the 30-year long terrorist conflict is now enjoying... 


Right of Reply Hela Bodu Pawura stance on Daily FT article ‘Court orders immediate arrest of suspects in Hikkaduwa church attacks’

Published : 12:00 am  January 25, 2014  |  Category: Opinion  |  Leave a Comment  |  1,101 views  |  

Hela Bodu Pawura has issued the following statement with reference to a Daily FT article titled “Court orders immediate arrest of suspects in Hikkaduwa church attacks” published on 17 January. We are not against the exercise of religions other than Buddhism regardless of the region. But what matters is criticising the doctrines of other religious leaders for minor privileges, for instance King Dharmapala at Kotte. From time immortal Buddhists converted themselves into Christianity or Catholicism to gain benefits from the imperialists. According to history, Buddhists were compelled to embrace Christianity by the offer of government jobs. Likewise the Christian missionaries in action nowadays... 


Grasping massive opportunity: No place for complacency

Published : 7:01 am  January 24, 2014  |  Category: Opinion  |  Leave a Comment  |  600 views  |  

The challenge: Macroeconomic stability and strategic action There has been an improvement in macroeconomic conditions since the introduction of the stabilisation measures introduced in Feb/March 2012. Inflation has abated and the balance of payments has improved. However, though the growth momentum has picked up in 2H 2012, the balance of probability is that it has been well below the targeted 8%. More fundamentally, the current economic model, where consumption is very dependent on remittances and growth is disproportionately funded by borrowing, including increasing amounts of foreign commercial debt cannot be the basis for placing Sri Lanka on a higher path of sustained growth and development... 


Dale Mortensen and the real crisis of unemployment

Published : 12:00 am  January 18, 2014  |  Category: Opinion  |  Leave a Comment  |  525 views  |  

By Anushka Wijesinha: The economics profession lost a prominent labour economist this past weekend – Prof. Dale Mortensen, a 2010 Nobel Laureate. When I heard of his passing-away, it took me back to June last year in the little lake-side town of Iseo, in Northern Italy, where I was fortunate to have heard one of his last international lectures. His analysis of how the prolonged crisis in Europe will hurt youth employment greatly influenced my thoughts on how ‘unemployment scarring’ will affect the vitality of Western economies for decades to come. His analysis of the consequences of ‘job polarisation’ in the US on the strength of the American middle-class influenced my thoughts on how... 


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