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

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Business

“RDB Drives Unprecedented Growth with Record Profits Fueling Expansion and Development Impact”

Published

3 days ago

2026/04/12

Thilina Walpola

The Regional Development Bank (RDB) delivered an exceptional financial performance for the year ended 31 December 2025, recording an 86% year-on-year increase in Profit After Tax to LKR 2.37 billion. The Bank’s total income reached LKR 42.81 billion, driven by a 23.89% growth in Net Interest Income to LKR 24.23 billion, complemented by steady contributions from both interest and fee-based income streams. This performance highlights the Bank’s ability to optimise its asset base while sustaining a well-diversified and resilient revenue profile.

Marking its 40th anniversary in 2025, the Bank’s exemplary performance underscores the strength of its resilient operating model, disciplined execution, and its growing role as a catalyst for inclusive economic progress in Sri Lanka. Profitability metrics strengthened notably, with Return on Assets (ROA) improving to 1.70% and Return on Equity (ROE) increasing to 11.77%, demonstrating enhanced efficiency in capital deployment and earnings generation.

Commenting on the Bank’s performance, Chairman Lasantha Fernando stated,

“Our performance in 2025 reflects the strength of a purpose-driven banking model that successfully balances financial sustainability with national development priorities. As Sri Lanka progresses on its path to recovery, our commitment to enabling inclusive growth remains unwavering.”

The Bank continued to expand its development-focused lending portfolio, with loans and receivables growing by 23.59% to LKR 302.54 billion. This growth supported priority sectors including agriculture, SMEs, manufacturing, housing, and rural enterprises representing segments critical to national economic revitalisation. Importantly, this expansion was achieved alongside improved asset quality, with the Stage 3 impaired loans ratio declining to 4.06% from 6.25%, demonstrating robust credit risk management and effective recovery strategies.

Customer confidence remained strong, with deposits increasing by 11.85% to LKR 283.72 billion, driven by growth in both savings and fixed deposits. The Bank also maintained liquidity ratios well above regulatory thresholds, reinforcing its financial stability and resilience

Asanga Tennakoon General Manager/Chief Executive Officer, highlighted” last year’s results underscore the impact of disciplined execution, prudent risk management, and a strong customer-centric approach. Looking ahead, we will continue to expand our reach, strengthen digital capabilities, and deepen financial inclusion to create sustainable value for all stakeholders.”

Business

SLIC Life and SLIC General Create New Employment Opportunities

Published

3 days ago

2026/04/12

Thilina Walpola

New Trainee Insurance Assistants receiving their appointment letters from (L-R) Nalin Subasinghe (CEO of SLICLL), Nusith Kumaratunga (Chairman of SLIC) and Dr. Sameera Dharmasena (CEO of SLICGL

Sri Lanka Insurance Life Ltd (SLICLL) and Sri Lanka Insurance General Ltd (SLICGL) together appointed 112 Trainee Insurance Assistants, marking one of the largest recruitments across both companies in recent years.

Of the total intake, 87 candidates joined SLICGL while 25 candidates were appointed to SLICLL. This recruitment reflects the continued efforts of both companies to strengthen their workforce while contributing to employment opportunities.

The recruitment process was conducted through a structured and independent evaluation framework to ensure transparency and merit-based selection. Applications were invited from eligible candidates island-wide, followed by a written examination. Candidates who met the required benchmarks were shortlisted for interviews conducted by an independent panel, reinforcing fairness and credibility throughout the process.

The newly appointed Trainee Insurance Assistants represent a diverse and capable talent pool. Approximately 30% of the recruits are graduates, while all candidates possess the required academic qualifications, including G.C.E. Ordinary Level and Advanced Level certifications, or equivalent diplomas and higher qualifications.

This intake is aligned with the long-term focus of SLICLL and SLICGL on developing human capital and nurturing future-ready professionals within the insurance industry. The new recruits will have access to structured career growth opportunities, enabling them to build sustainable careers within the organisations. Efforts have also been made to assign employees to locations closest to their places of residence, subject to operational requirements, ensuring both efficiency and employee convenience.

Commenting on the appointments, Nusith Kumaratunga, Chairman of Sri Lanka Insurance stated, “The onboarding of this new group of Trainee Insurance Assistants reflected our continued focus on building strong and capable teams across both SLICLL and SLICGL. By maintaining a transparent and merit-based selection process, we remained committed to creating opportunities for talented individuals while strengthening the foundations for long-term organisational growth. This initiative also aligned with our broader role in supporting employment generation and contributing to the country’s economic progress.”

The official appointment ceremony was held on 7th April 2026 at the SLIC Head Office, in the presence of the Chairman and the Corporate Management of SLICLL and SLICGL, marking an important milestone in the organisations’ ongoing people development journey.

Business

99x Wins Five Awards at Best Management Practices Awards ‘26, Showcasing AI-led Transformation

Published

3 days ago

2026/04/12

Thilina Walpola

Team 99x winning the Overall Gold Award at the CPM Best Management Practices Awards 2026

99x, a leading global product engineering company, has secured five major accolades at the CPM Best Management Practices Awards 2026, including an Overall Gold Award, positioning the company among Sri Lanka’s top-performing organisations in management excellence. The company was also recognised as the Sector Winner for IT, Software & BPO Services, named among the Forty Outstanding Companies, and received the Best Management Practices Excellence Award. In addition, Hasith Yaggahavita, CEO of 99x, was honoured with the Leadership Excellence Award, acknowledging his role in driving the organisation’s AI-led transformation.

The recognition was awarded for 99x’s submission titled ‘Embracing AI: Rethinking Talent, Products & Services,’ which addressed one of the most pressing shifts facing the global technology services industry today. As AI continues to redefine how software is built and delivered, traditional outsourcing models are being challenged from reduced reliance on large engineering teams to a growing shift toward outcome-based delivery and faster go-to-market expectations.

Chatura De Silva, Chief AI Officer at 99x, stated, “Winning five awards at one stage is a proud moment for us as a team. While AI is driving change across the industry, what made this possible is how we chose to adapt to it. We recognised that AI is not just a layer on top of what we do, but that it changes the foundation of how value is created. This transformation was about connecting both our talent and delivery, while embedding AI across everything we do”.

Selected from over 150 award submissions, 99x was also among the top 10 organisations invited to present its journey at the CPM Management Insights Summit 2026, placing its transformation on a national stage among the country’s most forward-thinking enterprises. Chatura De Silva, Kalana Wijesekara, Chief Developer Experience Officer and Chrishan de Mel, Chief Marketing and Corporate Affairs Officer, presented 99x’s story.

Commenting on the significance of this year’s awards, Dilshan Arsakularathna, CEO of The Institute of Chartered Professional Managers of Sri Lanka, stated, “99x securing the Overall Gold Award among organisations across multiple industries reflects the level at which Sri Lanka’s IT sector is progressing today. It demonstrates how companies are building real capability and driving innovation that can confidently stand on a global stage. Notably, 99x has now become the first organisation to secure the Overall Gold Award twice across the five editions of the BMPC Awards. This remarkable achievement reflects their strong commitment to sustaining excellence and continuously embedding best management practices within their operations. What stood out with 99x was how they have adapted to change in a practical and forward-thinking manner, reshaping how they operate and deliver value, while setting a compelling benchmark for modern management practices.”