In DepthCritique on Board directors’ role and liabilities
By Cassandra Mascarenhas
The role and responsibilities of a director on the board of a company is a topic that has risen to the forefront of the business community, both in Sri Lanka and globally, in recent times and tackling the billion rupee question of ‘Sweat or Blood,’ a CEO Breakfast Debate on accountability and protection was held last week.
Organised by the collaborative efforts of Janashakthi Insurance PLC, ACCA, ICCS and the Daily FT, the debate was a well-rounded one with representatives from differing professions undertaking the responsibility of shedding some light on this topical issue.
Policy conflicts in the capital market
Top experts in various fields of the economy gathered last week to discuss how policy conflicts in the capital market have an impact on the overall running of the economy. With the country aiming for 8% growth in 2012 as well, the imbalance caused by the conflicts would inject negativities in to the economy causing instability to the envisioned growth path.
Winning the corporate race healthily
Being an athlete is not just about having the extra muscle, the six pack and the perfect body. Being an athlete is about consistent training, long hours of commitment, absolute dedication, sacrifice and a healthy mind; practices that would sit well in the increasingly competitive corporate world.
Exploring the ‘Quest for Balance’
ICASL’s 32nd National Conference highlights complex and sometimes conflicting issues which have become the greatest challenge ahead of us
The first session titled ‘Quest for Balance – Our World: People, Planet and Profit’ was chaired by a former Chairman of the Ceylon Chamber of Commerce Deva Rodrigo and featured Hatton National Bank PLC Managing Director and CEO Rajendra Theagarajah, Dipped Products PLC Managing Director Mahesha Ranasoma, Brandix Lanka Limited Head of Energy and Environmental Management Iresha Somarathna as panellists and Asian Development Bank Sri Lanka Resident Mission Country Director Rita O’Sullivan as session presenter.
Key insights at first-ever pre-Budget open private-public pow-wow
With the 2012 Budget to be presented in a month’s time, a unique initiative was undertaken for the first time in the country between Government officials and key business communities – ‘Speak Up Before Budget 2012’ – at which the top representatives of several economic sectors were brought in to share their thoughts in the presence of Government officials.
Sustaining ‘The Gathering’
Officially declared the sixth greatest animal spectacle in the world by Lonely Planet no less, ‘The Gathering’ in Sri Lanka is now being threatened by its own spectacular success.
Hambantota: New haven of hope!
Sea port, airport and related industries, new planned city with flyovers; tourism, recreation and sports projects among others are sparking a host of business and investment opportunities for local and global private sector
By Nisthar Cassim in Hambantota
The first-ever forum in post-war Sri Lanka organised to promote developments and investment opportunities in the Hambantota District last week was a success, with key insights shared as well as issues clarified.
Organised by the Hambantota District Chamber of Commerce (HDCC) in partnership with State, academic and international agencies, the Hambantota Investors Forum drew over 100 participants, mainly representatives from Colombo-based companies, Sri Lanka-based foreign investors, diplomats and entrepreneurs from the Southern Province.
‘Hedging-gate’
Gambling with poor people’s monies
The Supreme Court in SC (FR) Applications Nos. 535 & 536/2008 on November 28, 2008 issued interim orders staying the operation of the purported oil hedging alias derivative deals of the Ceylon Petroleum Corporation (CPC). The Supreme Court issued stay orders ex-facie on these transactions, without having before it a comprehensive analysis thereof.
Highlights from Mid-Year Fiscal Position Report
The Minister of Finance recently tabled in Parliament the Mid-Year Fiscal Position Report in terms of Section 10 of the Fiscal Management (Responsibility) Act No. 03 of 2003. The purpose of this report is to provide updated information on the Government’s fiscal performance as per the fiscal strategy of the Government. The report contains the performance of Government revenue, expenditure, cash flow operations and borrowings during the first four months of the year 2011. The report also provides updated information, depending on the availability of information, relating to macroeconomic performance, price developments, foreign aid, Government debt and official reserves. Here are some highlights:
Good corporate governance – It is not systems but people
The final module of the popular series of seminars conducted by the Sri Lanka Institute of Directors (SLID) under ‘Contemporary Views on Corporate Stewardship and Boardroom Governance’ took place amidst a significant gathering at the Cinnamon Grand, Colombo.
The module, aptly titled ‘Governance Issues of Specific Organisations,’ took a shift away from the previous five modules with an attempt at focusing on the key institutes of banks, SMEs and other financial institutions and their affiliation with corporate governance.
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