May 3, 2023 – Reuters The World Bank’s board of governors on Wednesday elected former Mastercard CEO Ajay Banga to a five-year term as president, ushering in an Indian-born finance and development expert to revamp the lender to tackle climate change and other global crises. Banga, 63, was nominated for the post by U.S. President Joe Biden in late February and was the sole contender to replace departing World Bank chief David Malpass, an economist and former U.S. Treasury official who served in the Trump administration. He starts the new job on June 2. The election came after World Bank…
Author: LMD International
Condé Nast Traveler: April 27, 2023 InterContinental Khao Yai Resort InterContinental Khao Yai Resort, an IHG Hotel — Thailand Some two hours into the three-hour drive northward from Bangkok, the landscape starts changing. Concrete sprawl morphs into Khao Yai’s undulating hillscape bedecked in thick jungles and fruit orchards, and just off the area’s main road that snakes past pastiche European-looking country clubs and patchworks of farmland, the Intercontinental Khao Yai emerges from behind a hedgerow of towering trees. Dotted around the lush estate, you’ll see railway-themed buildings and train cars—which is the exact theme Bangkok–based hotel designer Bill Bensley was…
THE SQUEEZE ON INFLATION! There’s now an emerging trend of slightly better news on the inflation front The PepperCube Cost of Living Index (CLI) continues to remain in the ninth percentile – as it has been since March last year – albeit that it is edging towards bottoming out of the highest notch of the CLI. In March, the barometer stood at 91.3, which represents a notable easing from 95.6 in February. In the meantime, the Colombo Consumer Price Index (CCPI) dipped ever so slightly to register 50.3 percent year on year (from 50.6% in the previous month) – note…
INDEX SPIKES TO A 12 MONTH HIGH Biz confidence shores up in the aftermath of the IMF’s facility being approved The IMF’s US$ 3 billion Extended Fund Facility (EFF), which was approved on 20 March, has surely been instrumental in bolstering business confidence. And efforts to restructure Sri Lanka’s mountain of debt has since taken a positive turn with three key sovereign creditors – India, Japan and the Paris Club of nations – announcing on 13 April that formal talks are underway. So the only spoke in the wheel in the context of the debt restructuring process at the time…
Forbes – April 16, 2023 Like flare jeans and flip phones, travel fads often boomerang back, but never in exactly the same way as before. All-inclusive resorts are currently enjoying an enormous surge in popularity–minus the mediocre buffets, bottom-shelf piña coladas and cheesy entertainment from decades past. This new wave of all-inclusives is all about luxury, offering a raft of enticements from gourmet à la carte dining to personal butler service to high-end experiences unique to their locales. Notably, many of these properties are being launched by luxury hospitality brands entering the all-inclusive arena for the first time. Chalk it…
One of the reasons I’m not really a fan of big, organised tours is that you never get the chance to go free range in a destination
Priyan Fernando Art of the possible With more than four decades of experience in the corporate world, Priyan Fernando has led multinational organisations in finance, travel and global business services. In addition to serving as a Senior Advisor to the Boston Consulting Group in New York, he is the Chairman of Brandix Lanka – a position he’s held since 2014. Fernando has been credited with leading many transformations at American Express and as an advisor at the Boston Consulting Group, as well as playing a pivotal role in introducing shared financial services to India in the 1990s. For the latter,…
VANUSHI WALTERS Upholding democracy Q: Whose career inspires you – and why? A: In early April, we bid farewell to Jacinda Ardern – our former prime minister – as she stepped down from parliament. It’s been an extraordinary privilege to be part of her caucus and see up close how to lead with not only kindness but also decisiveness. She always put people first and has been a significant source of inspiration in my leadership journey. Q: What are the main challenges you’ve faced in your career as a politician to date? A: The biggest challenge is often spending a…
Russel Arnold Life’s winding road Q: How would you describe your connection with Sri Lanka? A: I am a proud Sri Lankan… I cherish the rich history and cultures of Sri Lanka, and consider myself lucky to born in such a beautiful island. I’m identified as a Sri Lankan even though I reside in Australia. Q: In your capacity as an international commentator, where do you see ‘brand Sri Lanka cricket’ heading in the next 12-24 months? A: In 12-24 months’ time, I think brand Sri Lanka cricket will be better because of the skill and talent that we possess,…
Prof. Suranjith Seneviratne Always a Sri Lankan Q: You are a frequent visitor to Sri Lanka… What entices you to visit so often? A: For me, beautiful Sri Lanka is ‘home.’ Any person would be drawn back to their roots and when it comes to a paradise nation like ours, the number of reasons for visiting frequently could be in the hundreds. A central reason in my case is that I want to give back to the wonderful country that trained, nurtured and developed me, enabling me to move on to the world stage. My medical speciality is at the…