Sri Lanka the only South Asian nation to not blacklist corrupt contractors: Verité Research

New report highlights gaps in guidelines as well as a lack of compliance Sri Lanka has the worst record among South Asian countries in blacklisting corrupt contractors in public procurement, according to a new report by Verité Research. The report shows that Sri Lanka is the only country in South Asia that 1) does not…

(0)Comments | February 19, 2024 4:51 pm

This land is Harin Fernando’s land? – By Prof. Samitha Hettige

On 23rd February 1940 Woody Guthrie first composed the folk song “This land is your land – this land is my land – from California – to the New York island” (Ref. US history). Though he says such, the Red Indians may argue that it belonged only to them from times immemorial prior to colonization….

(0)Comments | February 19, 2024 10:55 am

Opportunities and challenges in Sri Lanka’s EV eco system

As Sri Lanka stands at the cusp of a transformative shift towards electric mobility, the journey ahead is promising yet fraught with challenges. The emergence of electric vehicles (EVs) heralds a new era in transportation that promises significant environmental benefits and a potential reduction in the nation’s dependence on fossil fuels. However, fully realizing the…

(0)Comments | February 19, 2024 10:28 am

Japan unexpectedly slips into recession, Germany now world’s third-biggest economy

Reuters – Japan unexpectedly slipped into a recession at the end of last year, losing its title as the world’s third-biggest economy to Germany and raising doubts about when the central bank would begin to exit its decade-long ultra-loose monetary policy. Some analysts are warning of another contraction in the current quarter as weak demand…

(0)Comments | February 15, 2024 11:59 am

Lessons from the vision of Upali Wijewardena

By Prof. Samitha Hettige Sri Lankans born before 1970 may remember the closed economy with Dr. N.M. Perera (minister of finance during 1970 – 77). Masses marked months to buy a refrigerator or get a telephone connection. Transistor radios, light bulbs, umbrellas, wrist watches, ball-point pens & even razor blades were a luxury those days….

(0)Comments | February 12, 2024 11:12 am

Global creditors quiz ratings agencies over debt relief to the poorest

Reuters – Global creditors and Moody’s, Fitch and S&P Global Ratings met on Wednesday to discuss ratings agencies’ actions after debt relief provided by official creditors to some of the world’s poorest nations, a source said on Thursday. The meeting also discussed methodology on credit action in the event countries carry out a debt swap…

(0)Comments | February 9, 2024 12:06 pm

Electricity Bills in Sri Lanka: Highest in South Asia

Sri Lankans pay 2.5 to 3 times more for electricity than South Asian neighbours In 2023, Sri Lanka revised its electricity charges three times in February, July and October. The stated basis for the increase, was to recover the full cost of providing electricity. This analysis compares the electricity charges on households in Sri Lanka…

(0)Comments | February 8, 2024 3:24 pm

Sovereign debt workouts need knocking into shape

Reuters Breakingviews – The process of working out sovereign debts is not working. Countries such as Zambia are twisting in the wind because of long delays in restructuring their borrowings. It is harder to get all creditors to agree now that China is a big lender. A more integrated approach that better manages laggard lenders…

(0)Comments | February 5, 2024 9:54 am

Independent in the Indian Ocean?

By Prof. Samitha Hettige The British allowed Sri Lanka (SL) to be independent in 1948 but SL depended on; British, Dutch, Portuguese & Indians from time to time prior to that. Unlike Nepal, Bhutan & Bangladesh etc. which depends on India more often in the absence of the British, SL depended on India for conflict…

(0)Comments | February 2, 2024 6:27 am

Biz Confidence Dips in January

The barometer of corporate sentiment comes under pressure amid multiple sensitivities The Annual Policy Statement 2024 claims that the nation has confronted its most challenging economic and societal difficulties in the post-independence era in recent years. It states that policy measures have played a pivotal role in restoring stability – albeit at a socioeconomic cost….

(0)Comments | January 31, 2024 10:43 am