Business

Trying to make Sense of what is going on in the World?

Published

5 years ago

2021/02/7

This is Your Answer

As we adapt to a new norm, the world as we know it is more fragmented than ever before and demands systemic change to overcome its challenges. Simon Anholt, founder of the Good Country Project breaks down how we can make that change by being “good”. Good people, good business, good countries make up a good world, and in his podcast conversation with tea grower, and Dilmah Tea CEO Dilhan C. Fernando, Simon shares how to reassess and refocus at the onset of paradigm shift; an opportunity for businesses and communities to make the necessary adjustments now for a more sustainable future.

Defining “Good”

Simon Anholt, author of ‘The Good Country Question’ and the founder of the ‘Good Country Index’, must know the meaning of the word “Good”. However, he doesn’t define it traditionally. It is a word beyond a single definition, a word which actually defines a holistic vision. “Good” is the opposite of selfish, not good, the opposite of bad. The world is in turmoil today because of the introspective nature and the microscopic vision of people which affects the way we think, the way we lead and the way we are governed. The root cause of our challenges from Climate change to pandemics, small arms proliferation to the abuse of human rights links to our humanness or lack thereof. It isn’t simply to do the right thing by your own people. The responsibility must be wider to contribute to our collective wellbeing, including the global commons, the environment, the planet and the rest of the world. It’s simple. How people behave, individually and collectively defines “Good”.

Education is always the answer to every social and economic problem…

When the problem exists amongst the people the solution too lies within and must be unravelled. Human behaviour is woven into every individual based on an individualized experience of education, culture and upbringing. It can exacerbate the challenges we face or contribute towards solving it. In ‘The Good Country Project’, Simon calls for a new global compact on educational values, virtues and principles, a universal upheaval of education systems around the world to teach values that will build a new generation that will run towards the global challenges instead of running away from them.

This will enable young citizens to be suitably armed to face the challenges of the age they live in and tackle the present day challenges. It could create a generation of Good citizens that are able to start fixing things in just one generation. ‘Social Engineering’ can singularly save humanity from its own destructive instinct. Our world is truly globalized, and its citizens are interconnected and interdependent. What goes on in Sri Lanka has an impact on every other country on Earth. The next generation must learn to think differently and behave differently.

Collaboration: focusing on the system

While addressing the challenges ahead are self-evidently greater than any one individual and or even individual country, to make sensible progress it is inevitable that people, communities, businesses, governments and countries work together, consistently and continuously to change the culture from fundamentally competitive to fundamentally collaborative according to Simon, who has advised the presidents, prime ministers, and government officials of fifty-six countries, helping them to engage more imaginatively and effectively with the international community and is accredited with being the founder of the concepts of nation brands and place brands, seeing them as being “simply another manifestation of how obsessed countries have become with their competitive edge, instead of focusing their energies on the system of which they are a part, and on which we all utterly depend”.

Coopetition: cooperative competition

In the 1970s, businesses began to demonstrate that it’s perfectly possible to compete and to collaborate at the same time. Coopetition was a buzzword that originated in the Japanese auto industry which proved that the best way to drive a market towards growth is to have companies both competing against each other in an honorable way and collaborating to build a more efficient and effective marketplace. It demonstrates that human beings are still allowed to compete, which is a very valuable and very fundamental part of their nature, but also collaborate on the essentials in such a way that they don’t destroy each other or the marketplace as a result. Businesses and corporate bodies must advocate for coopetition within sectors, amongst sectors and on the lands on which they operate. “So that experiment of coopetition, I would argue, is about 30 years overdue between governments. And that’s one of the things we need to see now” urges Simon.

A Good Corporate/Business

A Business has a direct influence over the lives of nearly as many people as governments do. It is the simple idea that it’s not enough to make good products and sell them at a good price for a company to earn its right to inhabit the space it inhabits on the planet. Every business must understand its role and responsibility within the shared system, in a society, to the land on which it operates and as a stakeholder it is a common obligation.

We have to see the mandate of people in power, whether that’s within corporations or within government or within society. “You’re responsible for your own people. Yes. And for every single man, woman, child and animal on the planet, whether you like it or not, you’re responsible for your own premises in your own territory. Yes. And for every inch of the earth’s surface and the atmosphere above it and the soil beneath it, whether you like it or not, and if you don’t like it, you shouldn’t be in a position of power or authority because that is the rule of life on Earth today, whether we like it or not. And the sooner people begin to understand that, the sooner we’ll get the right people aspiring to positions of power and responsibility because they accept that their sphere of influence as leaders, their sphere of responsibility, rather, is greater than their sphere of influence.”

– Simon Anholt

All News Advertisement

Business

Rupee stability reflective of positive impact of policies taken thus far – CBSL Governor

Published

13 hours ago

2026/07/23

Sahan Weerasooriya

Dr. Nandalal Weerasinghe: ‘Eye on emerging risks.’

By Hiran H. Senewiratne

The rupee has stabilised somewhat in recent weeks reflecting the impact of policy measures that have been taken thus far, Central Bank Governor Dr Nandalal Weerasinghe said.

“We will continue to closely monitor domestic and global developments for emerging risks and expect the monetary policy tightening carried out previously to transmit to the economy in the period ahead, Central Bank Governor Dr Weerasinghe said at the monthly monetary policy review meeting held at Central Bank head office yesterday.

He said that the CBSL stands ready to take appropriate measures to ensure that inflation stabilises around the 5 percent target, while supporting the economy to reach its potential over the medium term.

Amid those developments the Central Bank kept its Overnight Policy Rate (OPR) unchanged at 8.75 percent, it said in a statement, after considering the evolving conditions and outlook on the domestic and global fronts.

Dr Weerasinghe added: ‘Renewed tensions in the Middle East have resulted in a surge in global commodity prices, particularly petroleum. These developments are likely to dampen global economic prospects with potential spillover.

‘The current low level of inflation, at 1.6 percent year -on-year in February 2026, relative to the target of 5 percent provides sufficient space to accommodate the impact of higher energy prices and their spillovers on inflation.

‘Headline inflation accelerated to 6.8 percent in June 2026, mainly due to higher domestic energy and food prices.

‘Headline inflation is expected to remain above the target of 5% in the near term before gradually returning to the target level. Core inflation is also expected to increase and remain around the headline inflation target.

‘The Board arrived at the decision to maintain the overnight policy rate after carefully considering the evolving conditions and outlook on the domestic and global fronts.

‘Renewed tensions in the Middle East have resulted in a surge in global commodity prices, particularly petroleum. These developments are likely to dampen global economic prospects with potential spillovers to the domestic economy through multiple channels.

‘The monetary policy tightening in May 2026 and its gradual transmission to the real economy are expected to moderate credit growth and the buildup of demand pressures going forward.

‘The pressure on the external sector caused by the Middle East conflict has eased somewhat, although the outlook remains uncertain due to renewed tensions.

‘Since April 2026, the external current account recorded a deficit, mainly because higher fuel import costs widened the merchandise trade deficit and tourism earnings slowed down.

‘Going forward, import demand, including demand for motor vehicles, is expected to reduce in response to recent policy measures.

‘Meanwhile, workers’ remittances have remained strong so far in 2026. Gross Official Reserves stood at USD 6.45 bn at the end of June 2026, amid foreign debt service payments.’

Business

Dengue outbreak exposes multi-billion rupee burden on state health system

Published

13 hours ago

2026/07/23

Sahan Weerasooriya

By Ifham Nizam

The mosquito that spreads dengue is tiny. The financial burden it leaves behind is anything but.

As Sri Lanka grapples with its worst dengue outbreak in nearly a decade, the country’s free public healthcare system is absorbing a mounting financial shock that experts say could run into billions of rupees, even as the human toll continues to rise.

According to the National Dengue Control Unit (NDCU), more than 76,000 dengue infections and 53 deaths have been reported so far this year, making 2026 one of the most challenging years for dengue control in recent history.

The NDCU has warned that the outbreak is being driven largely by the highly virulent DENV-2 strain, while persistent rainfall, poor waste management and mosquito breeding in urban and semi-urban areas continue to fuel transmission.

Although the Ministry of Health has yet to publish an official estimate of the cost of treating dengue patients, the economic implications are becoming increasingly evident.

Published medical research estimates that treating a dengue patient costs between USD 239 and USD 1,056, depending on the severity of the illness. At an exchange rate of around Rs. 330 to the US dollar, this translates to approximately Rs. 79,000 to Rs. 348,000 per patient.

Applied to the more than 76,000 reported cases, the theoretical direct medical cost ranges from Rs. 6 billion to more than Rs. 26 billion. While many patients are treated as outpatients and therefore incur lower costs, the estimates underline the immense financial pressure being placed on Sri Lanka’s publicly funded healthcare system.

The National Dengue Control Unit has repeatedly urged the public to eliminate mosquito breeding sites, warning that hospitals alone cannot contain the outbreak without sustained community participation.

Health officials have intensified countrywide inspections, awareness campaigns and vector-control programmes as case numbers continue to climb.

Officials say hospitals have expanded dengue wards, increased bed capacity and deployed additional medical and nursing staff to cope with the surge in admissions.

The government has also mobilised Air Force drones to identify inaccessible mosquito breeding grounds while strengthening surveillance operations across high-risk districts.

The financial impact extends beyond the Ministry of Health. Families lose income when wage earners fall ill or parents stay home to care for infected children. Businesses suffer productivity losses, while schools experience increased absenteeism during peak transmission periods.

Sri Lanka’s previous major dengue epidemic in 2017 was estimated to have cost around Rs. 1.94 billion in healthcare and outbreak-control expenditure. With inflation, higher pharmaceutical prices and increased operational costs since then, health economists believe the financial burden of the current outbreak is likely to be substantially greater.

The outbreak also raises broader questions about climate resilience and public investment. Dengue is increasingly being recognised not merely as a seasonal health issue but as an economic challenge capable of straining government finances and slowing productivity.

For the National Dengue Control Unit, the message remains simple: prevention is far cheaper than treatment.

Every breeding site destroyed, every community clean-up campaign conducted and every household inspection completed reduces the need for costly hospital care.

As the monsoon continues to create favourable conditions for mosquito breeding, the NDCU warns that sustained public vigilance will determine whether the country’s health bill continues to climb—or begins to fall.

Business

Shantha Bandara reappointed SLCPI president as Chamber advances regulatory reform and patient access

Published

13 hours ago

2026/07/23

Sahan Weerasooriya

The Sri Lanka Chamber of the Pharmaceutical Industry (SLCPI) announced the reappointment of Sunshine Healthcare Lanka Ltd. Director and Chief Executive Officer Shantha Bandara as its President for the 2026/27 term at the Chamber’s 65th Annual General Meeting held at Cinnamon Grand Colombo.

The event was graced by Dr. Hansaka Wijemuni, Deputy Minister of Health, as Chief Guest, together with government representatives, healthcare partners, past presidents, member companies and other industry stakeholders.

Bandara’s reappointment provides continuity to a reform-oriented agenda that has strengthened the Chamber’s governance, ethical standards and engagement with policymakers and regulators. His renewed mandate will focus on converting the progress made during 2025/26 into practical regulatory improvements that support the availability, accessibility and affordability of quality medicines in Sri Lanka.

SLCPI represents more than 70 pharmaceutical importers, manufacturers, distributors and retailers. Its members account for over 90% of Sri Lanka’s private pharmaceutical market, while the wider industry directly employs more than 80,000 people and indirectly supports nearly 400,000.

Reflecting on the past year, Bandara said the industry had operated amid sustained domestic and global pressure. Exchange-rate volatility, disruptions to international shipping routes, rising freight, insurance, fuel and electricity costs, and constrained consumer purchasing power placed significant pressure on pharmaceutical supply chains and business viability.

Despite these challenges, SLCPI continued to engage constructively with the Ministry of Health, the National Medicines Regulatory Authority and other stakeholders, presenting evidence-based recommendations on pharmaceutical pricing, import licence renewals and continuity of supply.

A major achievement during Bandara’s first term was the adoption of new Articles of Association following extensive consultation, legal review and member engagement. The revised Articles provide a stronger constitutional foundation for the Chamber, clarify governance structures and reinforce member rights and responsibilities.