Today we live in the dawn of a new era, a new age of consciousness. Like the first light casting its godly rays nurturing the planet with its mystical energy… so are we in this dawn, energised by a majestic flame, giving us new visions and insight to reach out and realise greater and greater accomplishments in life.
Mainstream economics is under heavy pressure. Consistently wrong policies and forecasts have damaged the field dubbed ‘the dismal science’. But what do critics propose should supersede the prevailing neo-Keynesian and neoclassical schools? Almost all alternative economists are calling for more government involvement to ‘fix’ the free market and make it work better.
In Beijing on Sunday, Chinese President Xi Jinping hosted a global summit on his Belt and Road Initiative under the aegis of the National Development Reform Commission’s (NDRC) China Centre for International Economic Exchanges (CCIEE), NDRC’s top think tank. This is part of a massive exercise in international diplomatic communication.
There are many reasons to be optimistic about the development prospects of Asia and the Pacific. If economic growth follows the recent trajectories, the average per capita income could rise sixfold by 2050. Asia’s share of global gross domestic product (GDP) would thus rise rapidly, from around 32 percent in 2015 to over 50 percent in 2050.
It is well known that the tea industry was the foundation on which the modern economy of Sri Lanka was developed. Even today, one and a half centuries since the beginning of this industry in Sri Lanka, tea exports generate the foreign exchange earnings.
It goes without saying that company leaders wear many hats and play many a role in leading the strategic direction of a company. In this complex and ever-changing business environment, effective leaders need to fulfil their roles in ways that will provide the right guidance to those they lead.
Hong Kong is not just another transit point or a business centre but it is a fascinating travel destination with so many attractions including luxury hotels, delicious cuisine and a wide variety of entertainment options to cater to all your travel needs. You would get the maximum for your money and time holidaying in Hong Kong and it would sure to be an unforgettable travel experience for you and your whole family.
The world-renowned human resources (HR) guru Professor Dave Ulrich speaking to a group of board executives said that every board is responsible for governing its firm in the best interest of the shareholders and other stakeholders. They are responsible for their actions and the actions of the firm’s leaders relative to the shareholders.
We live on a parched planet. Farmers till arid pastureland and policymakers fret over empty reservoirs, dry rivers and thirsty cities. And that only scratches the surface – literally – of the world’s water problem. Subterranean aquifers, which amount to the world’s reserve water tank, are also running dry. If this continues, the consequences could be dire, especially for water-stressed and fast-growing Asia.
This month, what is likely to be this year’s biggest international summit will convene in Beijing to discuss the world’s most ambitious project. China’s Belt and Road Initiative aims to redefine the global economy of the 21st century by integrating the economies of Europe, Asia and Africa through an unprecedented and powerful network of transport and communications infrastructure.
Asia’s high economic growth rates and huge infrastructure demand, which the recent ADB report Meeting Asia’s Infrastructure Needs estimated at US $ 26 trillion until 2030, offers immense potential for increased private sector participation in infrastructure projects.
The significance of foreign direct investment (FDI) to an economy such as Sri Lanka’s cannot be overstated. Its correlation with economic growth is well established. Typically, the benefits to the recipient economy include a reduction in budget deficit, improvement to the balance of payments, a closing of the gap between savings and investment and reduced unemployment.
Since the November 2016 announcement that demonetised 86 percent of India’s currency in circulation, Rs.5,400 crore (US $ 837 million) of undisclosed income has been detected. Critics will surely latch on to this rather measly figure to declare that demonetisation has palpably failed in expropriating owners of ‘illegal money’. Such criticism would only further display the inherent ideological bias and politically-motivated oppos
This series of articles is written directed at managers and senior executives who aspire to become leaders one fine day. So, we decided to talk about managers in the following four weeks – what they should know, what they should do and the four keys they should possess to open the door to join the leadership league.
Too much too soon can be a bad thing – if there are any lessons for the would-be and existing entrepreneurs to learn today, it is from achievements as well as failures. The case of one ambitious young entrepreneur whose net worth came down to nothing from a US $ 9 billion value, is one such instance where you know it is clearly entrepreneurship gone terribly wrong.
When I was in my late 30s, studying economics in the US, I came across ‘Aid, Policies, and Growth’, a journal article published in 2000 in the American Economic Review by Craig Burnside and David Dollar. This seminal paper investigated the growth impact of various economic factors contingent on certain ‘good’ policies.
The GSP+ going through is no doubt a big victory for Sri Lanka, given the many challenges the government has been facing in the last few months and the negativity surrounding it. Prime Minister Ranil Wickremesinghe needs to be congratulated for his efforts to restore the GSP+. Those responsible for managing exports now need to get on with it.
The Sri Lankan economy appears to be enmeshed in a growing debt overhang. The latest figures released in the Central Bank annual report 2016 indicate that the total general government external debt has grown by 10 percent in 2016 to US $ 27.2 billion. Even averaging out for 2015-2016, annual debt growth was 6.2 percent compared to 4.5 percent in the preceding two years.
FORBES: As regional powers like China, Russia, Japan, and India vie for political and economic position throughout the eastern realms of Eurasia, many of the less powerful countries caught in the middle are employing what could be called a ‘multi-vector strategy’ as they engage openly with multiple suitors in an attempt to balance out their respective influences and ultimately bringing in more investment, financing, and development fo
The Indian Ocean is the third largest water-body on planet earth. There are two billion people living in the Indian Ocean Region (IOR). This ocean has played a strategically significant role in the history. Its strategic significance has now become even more important in this ‘Asian century’.
The aim of Sustainable Development Goal 1 (SDG 1) is to eradicate extreme poverty and to reduce all forms and dimensions of poverty, at least by half, by the year 2030. As such, this article looks at the status of poverty in Sri Lanka, based on different poverty lines, both national and global.
International trade is in trouble after the global financial crisis and, with the new Trump administration, the world faces a protectionist onslaught. As a result, there are three ways that international trade can go from here — one considerably ‘more likely’ than the other two.
The success of the Asian Development Bank’s (ADB) relatively new results-based lending instrument hinges on accurate validation of outcome and output indicators. But this process can delay the programme if it is not conducted expediently.