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Overview

Solid performance of Sri Lankan banks maintained by regulatory reform and consolidation
OBG
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Sri Lanka’s banks are currently experiencing considerable change. Regulatory matters are a prominent concern, alongside the ups and downs of loan growth and economic policy. A careful balancing act is being performed as a result, with those able to tread the narrow path recording healthy bottom lines and continued service expansion in 2018. The year ahead will likely see this trend continue.…

Overview

A force of external and internal factors lead to mixed outlook for Sri Lankan capital markets
OBG
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After a positive second half in 2017 Sri Lanka’s capital markets experienced considerable headwinds in 2018, with a variety of external and internal factors behind the buffeting. The impacts of macroeconomic issues, increasing competition in terms of investment options, political uncertainty, turbulence in global energy prices and moves by the US Federal Reserve could be seen in both equity…

Overview

Global migration patterns are changing as a result of growing anti-migrant sentiment
OBG
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As the world’s nations and businesses become increasingly interconnected, so too does the flow of global migration. According to the OECD’s “International Migration Outlook 2018”, in 2017 some 258m people resided in a country other than the one they were born in and more than 5m foreign-born persons settled in OECD countries. The flow of migration is believed to not only improve the…

Overview

Sri Lanka focuses on reforms and spreading awareness to grow the insurance sector
OBG
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Major changes are on the horizon in the Sri Lankan insurance industry, with much of the groundwork laid for future growth in recent years. A government focus on regulatory improvements, the modernisation of processes, market consolidation and further investment in human resources point to continued opportunities for expansion in the sector. While the performance of the life insurance segment…

Overview

Sri Lanka aims to expand the use of renewable energy and reduce fuel imports
OBG
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The energy sector has made noteworthy progress in a number of respects in recent years. Despite political turbulence in Sri Lanka, key strategic measures were enacted in 2018 to encourage growth, including increasing renewable energy generation capacity; opening the hydrocarbons sector to greater overseas investment; and forming joint working groups to expedite the construction of liquefied…

Overview

New investment and trade agreements tap Sri Lanka's potential along busy shipment routes
OBG
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Trade and investment activities in Sri Lanka benefit from the country’s location along busy Indian Ocean trade routes, abundant agricultural and industrial exports, and a young, skilled workforce. Just 19 km separate its southern-most port from a global shipping lane carrying two-thirds of the world’s oil and half of its container shipments. This makes local ports a natural staging post…
Interview

Ganeshan Wignaraja, Executive Director, Lakshman Kadirgamar Institute: Interview
OBG
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Interview:Ganeshan Wignaraja What areas should Sri Lanka prioritise as chair of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) for 2018-20? GANESHAN WIGNARAJA: Sri Lanka’s leadership comes at a pivotal moment. The momentum for regional integration has stalled due to political differences between India and Pakistan. Given the economic and strategic…
Interview

President Maithripala Sirisena: Interview
OBG
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Interview:Maithripala Sirisena In what ways is Sri Lanka leveraging its geostrategic position in the Indian Ocean to help stimulate domestic economic growth? MAITHRIPALA SIRISENA: Sri Lanka’s geostrategic location has brought us many benefits over the centuries. Our country’s long tradition as a dual economy with thriving trade and agriculture has a lot to do with the trade-enabling location…
Interview

Rajendra Theagarajah, Chairman, Ceylon Chamber of Commerce (CCC): Interview
OBG
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Interview:Rajendra Theagarajah How can the CCC and other private sector players rebuild market confidence in Sri Lanka? RAJENDRA THEAGARAJAH: The political uncertainty and resulting economic impact were significant concerns in 2018. Despite this, businesses supported the economy. We provided leadership in the form of a joint chamber forum, which allowed stakeholders to voice their concerns.…
Interview

Krishan Balendra, Chairman, John Keells Holdings: Interview
OBG
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Interview:Krishan Balendra What actions should be prioritised to attract more foreign direct investment (FDI) to Sri Lanka? KRISHAN BALENDRA: We should prioritise creating a policy document that identifies three to four areas where we think Sri Lanka has a competitive advantage and then direct FDI to those industries. The document should make a case for why investing in Sri Lanka, rather than…