How Does Sri Lanka Compare With Lower Middle-Income Economies? Sri Lanka’s growing economy has helped it go from being a low-income economy to a lower middle-income economy (LMIE), as observed by The World Bank. But where does Sri Lanka stand when compared to other countries in its new peer group? We sifted through the data, and here’s what we learned. (We used World Bank data from 2014, since those ...

Featured image courtesy TamilGuardian The Sampur power plant project has come under further scrutiny, following a project synopsis released by the Public Information Officer of NTPC Ltd, India’s largest energy conglomerate. Among other things, it was revealed that environmental clearance for the project was still awaited as late as February 2015. Clearance has been given to the project to proceed despite ...

Google Success Stories is back in Sri Lanka for 2016 It’s been absent for a year but now it’s back. The Google Success Stories competition has returned! Once again, Google and GBG Colombo are looking for the greatest success stories of startups in Sri Lanka to compete with other competitors from all over the world. In case you’re lost, the Google Success Stories is a global competition organized by Google. Every year it ...

What Is GSP+ And Why Is It So Important? Now that the EU has lifted all sanctions on Sri Lankan exports of seafood, the island’s business community is gearing up for another big one ‒ the reinstatement of full GSP+ benefits. Getting back GSP+ privileges is undoubtedly going to be a major win for the Government. The country’s exports could also perhaps pick up a little, which is going ...

Why Sri Lanka Should Embrace Free Trade Man is a funny animal. He has a tendency to be swept up by half-baked ideas, following which he kicks his common sense to the curb. He then proceeds to pursue these ideas with vigour for a considerable amount of time. After such time however, the shaky foundations upon which these ideas were constructed come crumbling down, and he finally ...

Cometh the hour, where’s this man Ranil Wickremesinghe? There’s a term that even those who use it at every turn these days hadn’t heard or understood not too long ago. Yahapalanaya (Good Governance). There’s another word that is now being used a lot which was almost unheard of and which, even now, is not quite understood: bonds. Regardless of familiarity or knowledge there are certain definitive statements that ...

CSE Monthly Analysis: May 2016 Earlier this year, the January edition of this very report highlighted how the Colombo Stock Exchange had lost 840 points. When we published that article, the ASPI was hovering around the 6,200 mark. Fast forward to today and the very same ASPI is trading at around 6,500. In other words, the ASPI has managed to regain almost half of what it ...

The 8 Big Taxes You Need To Watch Out For Ah… taxes. Nothing has the power to topple governments, and divide political coalitions like a tax. Just ask PM Modi over in New Delhi, who has been struggling to push a Goods and Services Tax through the Rajya Sabha, or former US President George W. Bush, who was known for his infamous tax cuts. Taxes are the most important source of ...

The 8th International Conference on Information and Communication Technologies and Development (ICTD 2016) was held from 3- 6th June 2016. The conference held at the University of Michigan, saw a variety of sessions on different topics. LIRNEasia participated in the session on ‘Debating Open Development: Sharing and Interrogating Experiences of Developing Cross-Cutting Theory in ICTD’ organized by the Strengthening Information ...

The Principle of Culpability "Well, it is known that when the boss is crooked, it is a license for his/her subordinates to indulge as well. The reverse is more revealing. If the minions are in to picking, the chances are the boss is either incompetent or him/herself corrupt." The above was what I wrote editorially in 'The Nation' in April 2012. The title of ...

Featured image courtesy The Nation Sri Lankans sometimes like to claim perverse records for their country. You will likely have heard the proud assertion that ‘Sri Lanka has the highest suicide rate in the world’. Fortunately, that is not true. But here is a genuine perverse record, of which few people are aware: Sri Lanka holds the world record for ...

Sri Lanka’s Underutilised Resource: Female Labour A country’s labour force is perhaps its most valuable resource. A large, productive workforce, when combined with other inputs, can increase an economy’s production capacity, thereby making it possible to produce more goods and services. These outputs, in turn, enable a country to participate in trade, bring in money, and ultimately drive an increase in living standards. Women working ...

Featured image courtesy Anushka Wijesinha for 30yearsago.asia To me, the best thing about the Department of Motor Traffic at Werahera is the subsidized maalu paan. However, this article is not intended for street food connoisseurs and it is not about how the recent hike in VAT is going to affect maalu paan consumption patterns. This is about the seemingly minor ...

Glyphosate Found in Urine of 93 percent of Americans Tested Glyphosate, labeled a “probable human carcinogen” by the World Health Organization’s cancer agency IARC in 2015, has now been revealed to be ubiquitous in the first ever comprehensive and validated LC/MS/MS testing project to be carried out across America.In a unique public testing project carried out by a laboratory at the University of California San Francisco (UCSF), glyphosate was discovered ...

Meet the trio behind MyDeal’s new identity It was a Wednesday. Galle Road’s traffic had simmered down and by 10am, Bambalapitiya was almost rendered static by the late morning heat. Resisting the temptation to amble under the unforgiving sun, we were on a quest -to find MyDeal.lk’s office. Once we got there, however, no one noticed. The lazy pace of the outside world hadn’t made its way ...

Why Sri Lanka Needs A Retirement Plan For Low-income Earners “Let us work in partnerships between rich and poor to improve the opportunities of all human beings to build better lives.” –Kofi Annan– Kandiah Ramiah, 68, begins sweeping the streets as early as 5:30 a.m. every morning and continues to work till dusk. He had previously been employed as a security guard by a private company, and as a contract ...

Iceland does not want foreign investors A law passed on May 22 by Iceland's parliament is offering the foreign holders of about $2.3 billion worth of krona-denominated bonds a choice of either selling out in June at a below-market exchange rate, or have the money they receive upon maturity be impounded indefinitely in low interest bank accounts. In other words, Iceland is trying to kick out ...

What The Vehicle Tax Increase Means For Us (Other Than The Obvious) If you were contemplating purchasing a vehicle in the near future, or are in the process of buying one, hold that thought. While you were dreaming of driving down the road in your sporty new Mazda Axela, the government introduced a Transected Value or Unit Rate Tax through an Extraordinary Gazette Notification last night. Was that too technical? Let us ...

Everything You Need To Know About The Increase In VAT On May 2, Sri Lanka raised its headline rate of value-added tax (VAT) from 11% to 15% to shore up the nation’s finances in an attempt to reduce government deficit, which has been hit by increased levels of borrowing, falling oil prices, and international economic turmoil. Based on the stats in 2015, the Government owed Rs. 9.5 trillion ($65.6 billion) ...

Excerpts from a comment by Kieth on Income InequalityFeudalism – exploit the masses through land ownershipCapitalism – exploit the masses through wealth (Capital)Today this is done through the parasitic, rentier trickle up of Capitalism:a) Those with excess capital invest it and collect interest and rent.b) Those with insufficient capital borrow money and pay interest and rent.All this was much easier ...

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