Business Today Sri Lanka - May 2024

In this issue

Near-term global statistics on Electric Vehicle (EV) sales have prompted manufacturers and analysts to contend that the segment’s growth may not be straight line after all.

Singapore’s debt portfolio is a lesson in prudent decision-making, where a
long-term view of its economy governs the process.

Described as an ultra-lax monetary policy, Japan’s economic model has baffled the world.

The Oxford Union debate has come to the forefront with Indian journalist Palki Sharma’s fierce defense of her country.

The Uma Diya Janani multipurpose development project, marked as a significant irrigation initiative, was officially handed over to the public
by the Presidents of Iran and Sri Lanka.

Pavel Durov, founder and owner of messaging app Telegram, has been
an enigma, just like his creation.

By revising the standard’s criteria and embarking on a new collaboration with TextileGenesis, A Lectra Company, the Aid by Trade Foundation (AbTF) is boosting the credentials of The Good Cashmere Standard (GCS) as an independent seal for sustainably produced and traceable cashmere fibers from Inner Mongolia.

Challenging Market Conditions for Electric Vehicles

Near-term global statistics on Electric Vehicle EV) sales have prompted manufacturers and analysts to contend that the segment’s growth may not be a straight line after all.

6 mins

Not all Debts are Dilemmas

Singapore's debt portfolio is a lesson in prudent decision-making, where a long-term view of its economy governs the process.

5 mins

Is the Bank of Japan Finally Synchronizing with their Peers?

Described as an ultra-lax monetary policy, Japan’s economic model has baffled the world. Not because the East Asian nation is a poster child of rising from self-ruination in the post second world war era, but for stage-managing its monetary policy for a long time, managing its economy very differently to the rest of the world.

4 mins

The Debate on India's Path to Growth

The world is interested in India’s growth agenda. There is much conversation on whether it is the right one. Debating the same at the Oxford Union saw many Indians defending their country and their leader. That was almost one year ago. Today, as India conducts general elections, the Oxford Union debate has come to the forefront, with Indian journalist Palki Sharma's fierce defense of her country drawing much attention when she asserted that every country has its path, telling the audience not to judge India or any country on the boundaries of another.

5 mins

'Uma Diya Janani': Joint Inauguration of the Uma-Oya Multipurpose Development Project by the Presidents of Iran and Sri Lanka

The ‘Uma Diya Janani’ multipurpose development project, marked as a significant irrigation initiative following the Mahaweli movement, was officially handed over to the public by the Presidents of Iran and Sri Lanka.

7 mins

Joint Press Conference chaired by Presidents of Iran and Sri Lanka

President Ranil Wickremesinghe emphasized that Global South countries must capitalize on their strengths and collaborate effectively.

9 mins

Presidents of Iran and Sri Lanka in Significant Meeting

A meeting was held between Iranian President Dr. Ebrahim Raisi, who arrived in Sri Lanka to attend the inauguration of the Uma Oya Multipurpose Development Project, and President Ranil Wickremesinghe.

2 mins

Many Benefits to a Number of Sectors in Sri Lanka as a result of PM Dinesh Gunawardena's visit to Korea

During a meeting, the Governor of Gyeongsangbuk-du Province of the People’s Republic of South Korea, Lee Cheol Woo, met with Sri Lankan Prime Minister Dinesh Gunawardena.

1 min

Korea Provides Support to Several Sectors

Ambassador of Republic of Korea, Miyon Lee met with Prime Minister Dinesh Gunawardena to discuss follow up actions on the decisions taken at the discussions held during the Prime Minister’s visit to Korea.

1 min

The Discreet Techie on the Radar

Everyone knows Mark Zuckerberg from Facebook and Elon Musk from X. But there isn’t much known about Pavel Durov, the founder and owner of messaging app Telegram. He has been an enigma, just like his creation. Of Russian birth, his first creation was a social networking site called VK, which he operated from Russia. An advocate of free speech, it was not long before the Russian authorities were at his doorstep. Leaving his country of birth, Pavel created Telegram in 2013. He remained out of the spotlight, operating from Dubai, eventually emerging from the shadows after seven years to tell his story and distance himself from the specter of his birth country.

5 mins

President Ranil Wickremesinghe Embarks on Observation Tour to Revitalize Tourism Industry in Scenic Nuwara Eliya

President Ranil Wickremesinghe visited the Court Lodge Estate, owned by the Udupusellawa Plantation Company in Nuwara Eliya, to explore opportunities to revive the tourism industry around the picturesque hills of Nuwara Eliya.

2 mins

Ban Ki-moon Appreciates Growing Close Partnership between GGGI and Sri Lanka

During a meeting between Sri Lankan Prime Minister Dinesh Gunawardena and the Chairman of the Global Green Growth Institute (GGGI), Ban Ki-moon, the former expressed his gratitude for the close partnership that exists between Sri Lanka and GGGI.

1 min

President Ranil Wickremesinghe at the Opening of ITC Batnadina Hotel

President Ranil Wickremesinghe expressed his dedication to fostering an economic landscape in the nation that would prevent future struggles among its citizens.

2 mins

AWS Beats Azure to Top Global Cloud Computing Market Chart with a 31 percent Share

The cloud computing market attracts users worldwide, and the battle for dominance among top providers is a constant narrative.

1 min

Pan Asia Bank Posts Steady Performance in 1Q 2024

Pan Asia Banking Corporation reported a steady performance reflecting improved macro economic conditions as the Bank reported its financial performance during 1Q 2024, which showed judicious portfolio management and prudency in dealing with possible fallout on its asset quality in challenging times.

2 mins

The Central Bank of Sri Lanka Releases its inaugural Annual Economic Review and Financial Statements and Operations of the Central Bank for the Year 2023

The inaugural publication under Section 80 of the Central Bank of Sri Lanka Act, No. 16 of 2023 (CBA),namely, the Annual Economic Review 2023, and the inaugural publication under Section 99 of the CBA, namely, Financial Statements and Operations of the Central Bank 2023, were presented to Ranil Wickremesinghe, the President and Minister of Finance, Economic Stabilization and National Policies, by Dr. P Nandalal Weerasinghe, the Governor of the Central Bank of Sri Lanka.

5 mins

The Good Cashmere Standard Boosts its Sustainability Credentials with Focus on Animal Welfare and Transparency

By revising the standard’s criteria and embarking on a new collaboration with TextileGenesis, A Lectra Company, the Aid by Trade Foundation (AbTF) is boosting the credentials of The Good Cashmere Standard (GCS) as an independent seal for sustainably produced and traceable cashmere fibers from Inner Mongolia.

3 mins

NSB Continued to Prove its Resilience within an Economic Shudder

NSB demonstrated its mettle by recording a Profit after Tax (PAT) of 7.2 billion rupees for the fiscal year ended December 31, 2023.

2 mins

Read all stories from {{magazineName}}

Business Today Sri Lanka Magazine Description:

The magazine of the corporate world, Business Today features an interesting line-up of interviews with eminent personalities who impact the corporate, commercial and economic sectors. The monthly magazine also includes exclusive articles syndicated from the Harvard Business Review and Financial Times. It has also featured the monthly columns by Richard Branson and Howard Schultz. International interviews featured include Sir Richard Branson, Paul Allen, Howard Schultz, Omar Bin Laden and Sir Jonathan Ive. Articles penned by President Barack Obama and Vice President Joe Biden Jr. have also been featured in the magazine.