The Times of India – July 22, 2023 Harpo Gooneratne’s trademark tune is “Pizza, Pasta, Music.” The DJ-turned-restaurateur is one of the most prominent faces in the F&B industry of Sri Lanka. He owns several swish properties in the capital, including Harpo’s Colombo Fort Cafe and Italian joints like The Bayleaf and Hapro’s Pizza. Last year, when Sri Lanka imposed 100% surcharge on multiple imports like wine and cheese during its worst economic crisis in decades, establishments like the kinds owned by Gooneratne were badly injured leading to shrunken menus, highly controlled portions and woefully thin footfalls. Fast forward to…
Author: LMD International
INVEST IN YOUTH Umeshka Ratnaweera Sri Lanka must unlock its potential to challenge and change Q: How do you perceive Sri Lanka today? A: Corruption has crippled the nation, and dishonest dealings have eroded trust in and accountability by our public institutions. This corrosive environment has undermined economic growth and led to a colossal waste of resources. And it has allowed unscrupulous interests to thrive at the expense of the most vulnerable members of society. Q: Do you think Sri Lanka is capable of regaining its composure in the aftermath of multiple crises – including the most recent economic crisis?…
Australia on Friday launched a “national wellbeing” dashboard of indicators to measure progress on issues like health, education and the environment, one that it hopes will lead to a better balance between economic and social objectives
AUSTRALIA SRI LANKA BUSINESS COUNCIL FOSTERING TRADE RELATIONS Developing relationships and assisting the business community – Dilkie Perera Q: In a nutshell, what is the mandate of the Australia Sri Lanka Business Council? A: The Australia Sri Lanka Business Council is the premier body that represents the Sri Lankan business community in Australia. It develops and maintains close relationships with Australian and Sri Lankan government agencies, industry bodies, trade organisations, universities, financial organisations and multicultural trade bodies. The council also plays a consultative and lobbying role. In addition, it fosters bilateral trade relations between the two countries, and facilitates visiting…
BRUSSELS TIES THAT BIND Ambassador Grace Asirwatham highlights the benefits of global relationships Q: As Sri Lanka continues to seek assistance from various nations and lending agencies, what role could the EU – as its second-largest trading partner after China and a key export destination – play? A: The EU has played a significant role in supporting Sri Lanka in economic cooperation, development and humanitarian aid, technical assistance, investment and business partnerships, and sustainable development. Its financial cooperation is guided by a multi-annual indicative programme (MIP) that accounts for Sri Lanka’s national policy priorities and support for it achieving the…
Gihan Wirasinha Public-private cooperation Q: In a nutshell, how has the logistics sector evolved since the pandemic? A: Due to the impact of COVID-19, companies identified the need for robust and resilient supply chains that are smart, digitalised and sustainable. The pandemic magnified pre-existing issues while the accompanying economic turmoil exposed many vulnerabilities – and priorities such as visibility, accountability and digitalisation came to the fore. Logistics sector leaders took a fresh look at their supply networks, worked towards understanding vulnerabilities and evolved to improve their robustness. Q: What is the impact of existing supply chain issues on Hong Kong,…
Financial Times – July 14, 2023 Every schoolchild knows the dinosaurs of the Cretaceous era were wiped out by an asteroid. But now, it seems, we humans are the threat. The news that we have probably entered the Anthropocene — the first epoch to be defined by the overwhelming impact of humans on Earth’s vital systems — is deeply sobering. It’s almost too much to get your head around: that we have shaped the world so profoundly in what is, in the Earth’s history, the blink of an eye. Most of the geological epochs in the past 4.6bn years have…
Imran Furkan Collaborating for growth Q: How can Sri Lanka move forward through business collaborations? A: More than loans or multilateral-bilateral aid, business collaborations help bring sustainable inflows of foreign direct investment (FDI), and transfer skills and technical know-how. They also open new markets for Sri Lanka’s products and services. As such, we should be promoting business collaborations more than other avenues of cooperation. Sri Lanka must push for business collaborations as its preferred form of cooperation through more free trade agreements (FTAs), mergers and acquisitions, privatisations and removal of trade barriers – rather than government to government deals and…
Reuters – July 13, 2023 Tesla (TSLA.O) is discussing an investment proposal with the Indian government to set up a factory with an annual capacity to produce about half a million electric vehicles, the Times of India reported on Thursday, citing government sources. The company, led by billionaire Elon Musk, is also looking at using India as an export base to ship cars to countries in the Indo-Pacific region, the report said. The starting price for the vehicles will be 2 million rupees ($24,400.66), the report added, which is more than double of India’s cheapest EV, MG Comet, and half a million costlier…
Nigel Fernando Sri Lanka is forever home Q: Your connection with Sri Lanka in a nutshell… A: Forever home – the bond I share with Sri Lanka is unparalleled and irreplaceable. Having been born and raised there, I feel a profound yearning to return one day as it’s my true home; it is where I belong. Q: How would you describe life as an expat in Dubai? A: Dubai offers a host of benefits that makes it an attractive city to live and work in. It’s safe and clean, and boasts world-class infrastructure. This makes it a very comfortable place…