FitsAir eyes major expansion in domestic and int’l operations

With the vaccines against the coronavirus gaining momentum in Sri Lanka and across the globe, Fits Aviation (Pvt.) Limited (FitsAir), Sri Lanka’s sole private sector-owned airline with operations in both cargo and passenger segments, eyes major expansions in its domestic and international operations, with a view to support the country’s exporters and to realise the country’s potential in tourism while positing air travel as a viable transport mod

Social perceptions on role of women must change

Sunimalee Madurawala is a Research Economist at the Institute of Policy Studies of Sri Lanka (IPS). Her research interests include health economics, gender and population studies. Madurawala holds a BA (Economics Special), with First Class Honours and a Masters in Economics (MEcon) from the University of Colombo. She is also partly qualified in CIMA-UK. Following are excerpts from an interview with her.

Beyond turmeric: How import controls affect Sri Lanka’s economy

Raw turmeric roots on the shelves of roadside vendors is a frequent sight nowadays. Thanks to the import controls, turmeric now fetches a higher price domestically; prices having soared by as much as 275 percent from Rs. 80 per kilo to Rs. 300 per kilo.

Better childcare opens employment opportunities for Sri Lankan women

Despite robust growth and reduced poverty, female labour force participation in Sri Lanka remains at a low 36 percent compared to 75 percent for men —and below international standards.

Shiromal Cooray amongst 14 rising biz women for 2021 EY Entrepreneurial Winning Women Asia-Pacific programme

EY has announced 14 female business leaders selected for the Asia-Pacific class of the 2021 EY Entrepreneurial Winning Women — a programme designed to support women entrepreneurs to become global market leaders and to scale their businesses to reach full potential and break down barriers. Amongst them is Shiromal Cooray, Chairman and Managing Director of Jetwing Travels (Pvt.) Ltd and Chairman of Jetwing Hotels (Pvt) Ltd.

Dhammika Peniya: A post-mortem for ethics and business success

Having spent our childhood with Asterix comics, we were not really surprised in encountering our own Getafix (‘Veda Pappa’ in Sinhalised version) in the form of a house constructor turned medic in Kegalle, offering us magic portion in quarter litre bottles, a proven remedy, according to him, against COVID-19, the worst known pandemic of recent times.

Breaking new grounds: The Council for Startups

Sri Lanka’s thriving tech industry has proved time and again that it is not about only rising to the top but also taking as many companies as possible up that growth trajectory.

Working remotely in the age of COVID: Who is left behind?

The COVID-19 pandemic which was first reported in Sri Lanka in January 2020 has distressed the country’s labour market. According to the Department of Census and Statistics, with the onset of the pandemic, the labour force participation has decreased and the unemployment rate has increased, indicating reduced job openings.

Smoke engulfs entry of cinnamon cigarette

The advent of a locally manufactured tobacco-free cinnamon cigarette into the market stirred much interest and controversy in recent weeks.

Empower one woman and you empower a whole community

It is aptly said that when a woman becomes financially independent she sets off a chain reaction of positive outcomes within her family and wider community. In my long journey of working with women right from the grassroots right up to the higher corporate echelons in Sri Lanka, this reality is evident.

Towards zero poverty: Why effective targeting of Samurdhi transfers essential

The first Sustainable Development Goal (SDG) is to “end poverty in all its forms everywhere” by 2030. While achieving the goal of zero poverty is a lofty goal for any government, it is profoundly more so for those of developing countries.

Reducing the gap in understanding Sri Lanka’s gender gap

The World Economic Forum’s Global Gender Gap Index (GGGI) is a composite index that measures the extent of gender-based gaps in and among countries and tracks progress towards reducing these gaps over time. See Box 1 on calculation of the Gender Gap.

Confronting capitalism – market-oriented economy with state guidance

Recently Central Bank Governor Prof. W.D. Lakshman at a media briefing stated that Sri Lanka was following a market-oriented economy with state guidance, involving some controls and restrictions. He was quoted as saying that such a framework would not be successful under an IMF programme. This, in my view needs further elaboration.

Glass ceiling or the sticky floor

With the recent events unfolding in Sri Lanka, it’s high time that the corporate leaders and thought leaders of the Sri Lankan society take a stand on the gender discrimination that is happening right before our very own eyes. The elephant in the room is conveniently ignored, whereas all mundane topics are being discussed.

Moving from bitter to sweet: The Lanka Sugar Company story

The import ban imposed by the government was a bitter pill to swallow for many but certain sections of the economy did stand to benefit from the move, as it provided an elevated platform to perform better.

Bandwagoning with China: Geopolitics of a container terminal in Sri Lanka

It is rather unusual for trade union leaders to speak geopolitics.

Apparel exporters stay positive despite freakish outlook

Newly elected chief of the Sri Lanka Apparel Exporters’ Association (SLAEA) Aroon Hidramani spoke to Mirror Business recently on how the country’s apparel sector is gearing up to tackle 2021 after a tumultuous year marred by a global pandemic.

Economic recovery 2021: Why innovation and export orientation matter

Two thousand twenty-one will be a difficult year. For most economies – not just for Sri Lanka. One does not have to be a macroeconomist to predict that. This year carries a legacy from 2020 that has brought unprecedented economic shocks as the consequences of a world pandemic situation, unknown at least for 100 years, the last such incident being the 1918-19 Spanish flu.

How HR can make work human in 2021

Two thousand twenty-one—it’s finally here! I think we can all agree that the last year was both the longest and fastest year ever. One thing we will all remember from 2020 is how work and life collided and converged in an unprecedented way, making the line between work and human experiences more blurred than ever.

Sri Lanka has to set an urgent glide path to IMF

The Sri Lankan authorities have been able to achieve stable macro-economic indicators despite the severe economic dislocation caused by the pandemic. Inflation has remained well within the 4-6 percent target range and the improvement of the trade deficit has had a positive impact on the current account of the balance of payments.

How Sri Lankan remittances are defying COVID-19

International migrants have historically been a driving force of the Sri Lankan economy and during the COVID-19 pandemic their remittances have helped boost the country’s foreign exchange earnings.

Oxford Economics highlights impacts of illicit trade to Sri Lankan economy

Growth and development come hand-in-hand with better governance and application of law and order. Ill-considered strategies result in leakages that will see us meandering in this constant state of a ‘developing nation’ – a poster-child of disappointment amongst nations with limitless promise.

MTI’s Business Review of 2020 and Outlook for 2021

For the 10th consecutive year, MTI Consulting (via their Corporate Finance practice), in partnership with Daily FT, Daily Mirror and Sunday Times, has concluded the MTI CEO Business Outlook Study, collectively outlining the Sri Lankan business community’s perception of the state of business in 2021.

An appetite for health: Regulating Sri Lanka’s food environments to fight NCDs

While no one is immune to contracting COVID-19, the World Health Organisation (WHO) has identified specific groups that are at higher risks of becoming seriously ill. One such group is those suffering from non-communicable diseases (NCDs), including lung and heart disease, diabetes and cancer.

Counselling Human Rights Council: A perspective by Pathfinder Foundation

As the 46th session of the UN Human Rights Council (HRC) looms large in about a month’s time, the debate on its controversial Resolution 30/1 of 2015, which the ‘Yahapalana’ government co-owned in an unprecedented and unwise move, has resumed with renewed vigour.

Sri Lanka can achieve a greener and more prosperous future

Farmers, hoteliers and homestay owners, fishers, producers of the famous Kanthale milk curd, Ayurveda healers, fruit growers, developers, safari jeep drivers, local dwellers—all derive their livelihoods from shared natural resources offered by the Hurulu-Kaudualla-Kanthale (HKK) landscape.

A race between vaccines and virus as recoveries diverge

In just three months since we released our last forecast in October, recorded COVID-19 deaths have doubled to over two million, as new waves have lifted infections past previous peaks in many countries. In these same three months, multiple vaccines have seen unexpectedly strong success and some countries have started ambitious vaccination drives.

We’re witnessing a global surge in innovation.This is how we sustain it

From a foot-operated handwashing machine invented by a nine-year old boy in Kenya, to a new “sky park” opened in Bangkok on an disused railway line that could serve as a model for greening abandoned spaces, to the roll-out of robots in health centres in Rwanda, the pandemic has unleashed an unprecedented wave of home-grown innovation.

Sri Lanka’s post-COVID-19 recovery: The need for inclusive economic growth

High levels of inequality impede sustainable growth and development of a country. Sri Lanka made impressive strides to reach an upper-middle-income country (UMIC) status in July 2019, only to slip back a year later. The COVID-19 crisis, amid growing inequities, is likely to make the task of regaining the UMIC status even harder.

Special Economic Zones and prospects for Sri Lanka

The motivation for Special Economic Zones, also commonly referred to as SEZs, stems from an innovative idea: to overcome distortions in policy and infrastructure constraints in domestic economies.