Features
Time and timing as currency
The phrase “Time is Money” emphasizes the idea that time has great value, and wasting it is akin to losing money. This concept has origins in the 15th century, with Croatian merchant Benedetto Cotrugli first coining it in his book Della Mercatura et Del Mercante Perfetto. Later, Benjamin Franklin, a U.S. founding father, popularized it with his quote “Remember that time is money” in 1748.
Today we discuss “Time is Money” highlighting examples from various perspectives. A businessman missing a critical meeting or a student not studying, demonstrates how time directly influences success and financial gain. Moreover, while money lost can often be regained, time once spent cannot be recovered, reinforcing that time is, in fact, more precious.
Intrinsic value
The concept of “Time is Money” highlights the intrinsic value of time, equating its loss to financial loss as pointed out by Benedetto Cotrugli far back in the 15th century. Centuries later, it popularized US President Franklin. This phrase has since been a guiding principle across various aspects of life, demonstrating how time’s value directly influences success and financial gains.
From a business and academic standpoint, the effective use of time is essential. For example, a businessman missing a critical meeting or a student failing to study, illustrates how time, when used or wasted, can significantly impact financial and personal outcomes. Unlike money, which can often be recovered, time once lost is irretrievable, thus making it a more precious resource. In many fields, success is closely tied to effective time management; patients and entrepreneurs alike understand that timely actions can save lives and ensure financial success. A story that illustrates this concept is of a boy who saves money to buy a day with his busy father, emphasizing how valuable time can be over wealth.
Time value of money in finance
“Time is Money” thus encourages efficient and purposeful living. The Time Value of Money (TVM) builds on this principle and is a foundational concept in finance. It emphasizes that money available today is worth more than the same amount in the future because of its potential earning capacity, what we call inflation. This principle applies widely across business, consumer, and governmental finance and is critical for understanding investments, loans, and financial planning. TVM means that a rupee today can be invested to generate future returns, making it more valuable than a rupee received later. As a result, individuals and businesses use TVM to assess and select investment opportunities that balance risk and potential returns.
Impact on global markets
TVM plays a critical role in both domestic and international finance, impacting global markets where companies and governments manage debt and capital for growth. International Capital Markets allow firms to raise funds worldwide, thereby contributing to global economic expansion. For instance, companies invest internationally not necessarily for immediate returns but for anticipated future gains, applying TVM principles to build long-term value. The U.S. Treasury also applies TVM principles in managing federal debt through government securities, balancing debt while leveraging interest earnings.
In essence, the TVM concept underscores the importance of timing in financial decisions, shaping investment strategies and market dynamics globally. From personal time management to international finance, “Time is Money” remains a core principle, reinforcing time’s unique and finite value.
Essay on Time and Timing
Time is an invaluable resource, often equated with money, wellness, and success in various life domains. The concept of time underlies much of human decision-making, from financial planning to emotional well-being, and its management directly influences outcomes in both personal and professional arenas. This essay explores the multifaceted aspects of time and timing, focusing on the time value of money, the role of time in healing and overcoming depression, time constraints in knowledge testing, effective timing in life decisions, and optimal timing in business decisions.
The Time Value of Money
The time value of money (TVM) is a foundational principle in finance, underscoring the importance of timing in monetary value. The core idea is that a dollar today is worth more than a dollar in the future due to its potential earning capacity. This concept justifies why investors prioritize earlier returns over delayed ones and highlights the impact of inflation, opportunity costs, and risk. TVM emphasizes that financial decisions should consider not only the amount but also the timing of cash flows, as compounded growth can significantly alter future values. Effective timing in financial investments, such as retirement planning and portfolio management, thus heavily relies on an understanding of the time value of money.
Time as a Remedy for Depression
Time can also play a therapeutic role in mental health, particularly in addressing depression. The concept of “time as a healer” is widely recognized, as time allows individuals to process and recover from emotional setbacks. According to Harvard psychologist Susan David, allowing oneself time to feel and understand emotions can promote psychological flexibility and resilience. Research suggests that the passage of time aids emotional regulation by helping individuals reframe negative experiences and develop coping mechanisms. Structured timelines, such as setting gradual goals for recovery or adopting cognitive behavioural strategies over time, can support those struggling with depression. Here, timing is critical: forcing recovery can lead to frustration, while a well-paced approach respects the natural course of emotional healing.
Limiting Time for Testing Knowledge
The role of time in education and assessments illustrates another facet of timing’s importance. Time-limited tests are designed to evaluate not only knowledge but also the ability to retrieve and apply information under pressure. This approach is supported by theories of cognitive load, which suggest that time constraints challenge students to prioritize critical information and employ effective recall strategies. However, excessive time constraints may undermine the accuracy of knowledge assessment by inducing anxiety rather than promoting knowledge demonstration. Balancing timing in testing allows educators to gauge genuine understanding while fostering confidence and reducing test-related stress.
Timing in Effective Life Decisions
Timing is equally vital in personal life decisions, such as marriage, career changes, or retirement. Decisions made at appropriate times, considering life stage, external circumstances, and personal readiness, are more likely to yield positive outcomes. Psychologists suggest that a “readiness stage” approach, where individuals assess their mental and emotional preparedness for major life changes, can be beneficial. For instance, early career transitions may benefit from flexibility, while later transitions may require more stability and planning due to financial and familial obligations. Additionally, studies in decision-making indicate that hasty decisions often result in regret, underscoring the importance of well-timed, thoughtful life choices.
Timing in Business Decision-Making
In the business world, timing decisions are critical to competitive advantage and profitability. Decisions such as market entry, product launches, and mergers require precise timing to optimize outcomes. Market entry timing, for example,
can determine a business’s initial success; early entry in a growing market can yield significant rewards, while delays may lead to missed opportunities and diminished market share. Timing is also crucial in investment decisions, where factors such as interest rates, inflation, and competitor actions should be considered. Decision-makers often employ timing strategies to mitigate risks and align with favourable market conditions, illustrating that the timing of business decisions significantly influences long-term success.
Maximizing Efficiency and Wealth Across Industries
Time plays a crucial role in aligning resources effectively to boost efficiency and profitability across diverse areas. Here’s how timing impacts different fields:
=Cultural Rituals: Many rituals are anchored in specific times, aligning with cultural or religious calendars (e.g., holidays, harvest seasons, or prayer times). Observing these rituals on time fosters communal unity, individual spiritual well-being, and cultural continuity.
=Sports: Precise time management—through training schedules, rest periods, and game strategies—enables athletes to reach peak performance, reduce injuries, and boost factors like sponsorship potential and market value.
=Healthcare: Timing in medicine enhances treatment effectiveness, such as through carefully scheduled medication doses. Efficient hospital operations also minimize wait times, improve patient care, and lower costs, all of which contribute to health sector productivity.
=Supply Chain Management: Timely logistics streamline storage costs, facilitate Just-in-Time (JIT) systems, reduce waste, and improve customer satisfaction, directly increasing profitability.
=Finance: Timing in financial strategies—like choosing optimal entry and exit points in markets and adjusting portfolios—can maximize returns, manage risk, and build long-term wealth.
In all areas, effective time management maximizes resource utilization, efficiency, and profitability, ultimately paving the way to wealth and sustainable growth.
Conclusion
Time and timing are fundamental to achieving success across financial, personal, and professional domains, enhancing value and effectiveness in every field. In finance, not only does timing maximize returns through strategic entry and exit points, but an understanding of the time value of money also strengthens investment outcomes and long-term wealth creation. In personal wellness, allocating time for emotional healing is crucial in overcoming challenges like depression, as recovery benefits from mindful pacing and attention. In testing environments, time constraints balance the demonstration of knowledge with stress management, influencing performance. Across life and business, well-timed decisions align with preparedness and market conditions, increasing the likelihood of favourable outcomes. Whether in cultural activities, sports, healthcare, supply chain management, or finance, effective time management optimizes resources, enhances productivity, and ultimately fosters well-being, profitability, and lasting success.
(The writer, a senior Chartered Accountant and professional banker, is Professor at SLIIT University, Malabe. He is also the author of the “Doing Social Research and Publishing Results”, a Springer publication (Singapore), and “Samaja Gaveshakaya (in Sinhala). The views and opinions expressed in this article are solely those of the author and do not necessarily reflect the official policy or position of the institution he works for. He can be contacted at saliya.a@slit.lk and www.researcher.com)
Features
Meet the women protecting India’s snow leopards
In one of India’s coldest and most remote regions, a group of women have taken on an unlikely role: protecting one of Asia’s most elusive predators, the snow leopard.
Snow leopards are found in just 12 countries across Central and South Asia. India is home to one of the world’s largest populations, with a nationwide survey in 2023 – the first comprehensive count ever carried out in the country – estimating more than 700 animals, .
One of the places they roam is around Kibber village in Himachal Pradesh state’s Spiti Valley, a stark, high-altitude cold desert along the Himalayan belt. Here, snow leopards are often called the “ghosts of the mountains”, slipping silently across rocky slopes and rarely revealing themselves.
For generations, the animals were seen largely as a threat, for attacking livestock. But attitudes in Kibber and neighbouring villages are beginning to shift, as people increasingly recognise the snow leopard’s role as a top predator in the food chain and its importance in maintaining the region’s fragile mountain ecosystem.
Nearly a dozen local women are now working alongside the Himachal Pradesh forest department and conservationists to track and protect the species, playing a growing role in conservation efforts.
Locally, the snow leopard is known as Shen and the women call their group “Shenmo”. Trained to install and monitor camera traps, they handle devices fitted with unique IDs and memory cards that automatically photograph snow leopards as they pass.
“Earlier, men used to go and install the cameras and we kept wondering why couldn’t we do it too,” says Lobzang Yangchen, a local coordinator working with a small group supported by the non-profit Nature Conservation Foundation (NCF) in collaboration with the forest department.
Yangchen was among the women who helped collect data for Himachal Pradesh’s snow leopard survey in 2024, which found that the state was home to 83 snow leopards – up from 51 in 2021.

The survey documented snow leopards and 43 other species using camera traps spread across an area of nearly 26,000sq km (10,000sq miles). Individual leopards were identified by the unique rosette patterns on their fur, a standard technique used for spotted big cats. The findings are now feeding into wider conservation and habitat-management plans.
“Their contribution was critical to identifying individual animals,” says Goldy Chhabra, deputy conservator of forests with the Spiti Wildlife Division.
Collecting the data is demanding work. Most of it takes place in winter, when heavy snowfall pushes snow leopards and their prey to lower altitudes, making their routes easier to track.
On survey days, the women wake up early, finish household chores and gather at a base camp before travelling by vehicle as far as the terrain allows. From there, they trek several kilometres to reach camera sites, often at altitudes above 14,000ft (4,300m), where the thin air makes even simple movement exhausting.
The BBC accompanied the group on one such trek in December. After hours of walking in biting cold, the women suddenly stopped on a narrow trail.
Yangchen points to pugmarks in the dust: “This shows the snow leopard has been here recently. These pugmarks are fresh.”

Along with pugmarks, the team looks for other signs, including scrapes and scent‑marking spots, before carefully fixing a camera to a rock along the trail.
One woman then carries out a “walk test”, crawling along the path to check whether the camera’s height and angle will capture a clear image.
The group then moves on to older sites, retrieving memory cards and replacing batteries installed weeks earlier.
By mid-afternoon, they return to camp to log and analyse the images using specialised software – tools many had never encountered before.
“I studied only until grade five,” says Chhering Lanzom. “At first, I was scared to use the computer. But slowly, we learned how to use the keyboard and mouse.”
The women joined the camera-trapping programme in 2023. Initially, conservation was not their motivation. But winters in the Spiti Valley are long and quiet, with little agricultural work to fall back on.
“At first, this work on snow leopards didn’t interest us,” Lobzang says. “We joined because we were curious and we could earn a small income.”
The women earn between 500 ($5.46; £4) and 700 rupees a day.
But beyond the money, the work has helped transform how the community views the animal.

“Earlier, we thought the snow leopard was our enemy,” says Dolma Zangmo, a local resident. “Now we think their conservation is important.”
Alongside survey work, the women help villagers access government insurance schemes for their livestock and promote the use of predator‑proof corrals – stone or mesh enclosures that protect animals at night.
Their efforts come at a time of growing recognition for the region. Spiti Valley has recently been included in the Cold Desert Biosphere Reserve, a Unesco-recognised network aimed at conserving fragile ecosystems while supporting local livelihoods.
As climate change reshapes the fragile trans-Himalayan landscape, conservationists say such community participation will be crucial to safeguarding species like the snow leopard.
“Once communities are involved, conservation becomes more sustainable,” says Deepshikha Sharma, programme manager with NCF’s High Altitudes initiative.
“These women are not just assisting, they are becoming practitioners of wildlife conservation and monitoring,” she adds.
As for the women, their work makes them feel closer to their home, the village and the mountains that raised them, they say.
“We were born here, this is all we know,” Lobzang says. “Sometimes we feel afraid because these snow leopards are after all predatory animals, but this is where we belong.”
[BBC]
Features
Freedom for giants: What Udawalawe really tells about human–elephant conflict
If elephants are truly to be given “freedom” in Udawalawe, the solution is not simply to open gates or redraw park boundaries. The map itself tells the real story — a story of shrinking habitats, broken corridors, and more than a decade of silent but relentless ecological destruction.
“Look at Udawalawe today and compare it with satellite maps from ten years ago,” says Sameera Weerathunga, one of Sri Lanka’s most consistent and vocal elephant conservation activists. “You don’t need complicated science. You can literally see what we have done to them.”
What we commonly describe as the human–elephant conflict (HEC) is, in reality, a land-use conflict driven by development policies that ignore ecological realities. Elephants are not invading villages; villages, farms, highways and megaprojects have steadily invaded elephant landscapes.
Udawalawe: From Landscape to Island
Udawalawe National Park was once part of a vast ecological network connecting the southern dry zone to the central highlands and eastern forests. Elephants moved freely between Udawalawe, Lunugamvehera, Bundala, Gal Oya and even parts of the Walawe river basin, following seasonal water and food availability.
Today, Udawalawe appears on the map as a shrinking green island surrounded by human settlements, monoculture plantations, reservoirs, electric fences and asphalt.
“For elephants, Udawalawe is like a prison surrounded by invisible walls,” Sameera explains. “We expect animals that evolved to roam hundreds of square nationakilometres to survive inside a box created by humans.”
Elephants are ecosystem engineers. They shape forests by dispersing seeds, opening pathways, and regulating vegetation. Their survival depends on movement — not containment. But in Udawalawa, movement is precisely what has been taken away.
Over the past decade, ancient elephant corridors have been blocked or erased by:
Irrigation and agricultural expansion
Tourism resorts and safari infrastructure
New roads, highways and power lines
Human settlements inside former forest reserves
“The destruction didn’t happen overnight,” Sameera says. “It happened project by project, fence by fence, without anyone looking at the cumulative impact.”
The Illusion of Protection
Sri Lanka prides itself on its protected area network. Yet most national parks function as ecological islands rather than connected systems.
“We think declaring land as a ‘national park’ is enough,” Sameera argues. “But protection without connectivity is just slow extinction.”
Udawalawe currently holds far more elephants than it can sustainably support. The result is habitat degradation inside the park, increased competition for resources, and escalating conflict along the boundaries.
“When elephants cannot move naturally, they turn to crops, tanks and villages,” Sameera says. “And then we blame the elephant for being a problem.”
The Other Side of the Map: Wanni and Hambantota
Sameera often points to the irony visible on the very same map. While elephants are squeezed into overcrowded parks in the south, large landscapes remain in the Wanni, parts of Hambantota and the eastern dry zone where elephant density is naturally lower and ecological space still exists.
“We keep talking about Udawalawe as if it’s the only place elephants exist,” he says. “But the real question is why we are not restoring and reconnecting landscapes elsewhere.”
The Hambantota MER (Managed Elephant Reserve), for instance, was originally designed as a landscape-level solution. The idea was not to trap elephants inside fences, but to manage land use so that people and elephants could coexist through zoning, seasonal access, and corridor protection.
“But what happened?” Sameera asks. “Instead of managing land, we managed elephants. We translocated them, fenced them, chased them, tranquilised them. And the conflict only got worse.”
The Failure of Translocation
For decades, Sri Lanka relied heavily on elephant translocation as a conflict management tool. Hundreds of elephants were captured from conflict zones and released into national parks like Udawalawa, Yala and Wilpattu.
The logic was simple: remove the elephant, remove the problem.
The reality was tragic.
“Most translocated elephants try to return home,” Sameera explains. “They walk hundreds of kilometres, crossing highways, railway lines and villages. Many die from exhaustion, accidents or gunshots. Others become even more aggressive.”
Scientific studies now confirm what conservationists warned from the beginning: translocation increases stress, mortality, and conflict. Displaced elephants often lose social structures, familiar landscapes, and access to traditional water sources.
“You cannot solve a spatial problem with a transport solution,” Sameera says bluntly.
In many cases, the same elephant is captured and moved multiple times — a process that only deepens trauma and behavioural change.
Freedom Is Not About Removing Fences
The popular slogan “give elephants freedom” has become emotionally powerful but scientifically misleading. Elephants do not need symbolic freedom; they need functional landscapes.
Real solutions lie in:
Restoring elephant corridors
Preventing development in key migratory routes
Creating buffer zones with elephant-friendly crops
Community-based land-use planning
Landscape-level conservation instead of park-based thinking
“We must stop treating national parks like wildlife prisons and villages like war zones,” Sameera insists. “The real battlefield is land policy.”
Electric fences, for instance, are often promoted as a solution. But fences merely shift conflict from one village to another.
“A fence does not create peace,” Sameera says. “It just moves the problem down the line.”
A Crisis Created by Humans
Sri Lanka loses more than 400 elephants and nearly 100 humans every year due to HEC — one of the highest rates globally.
Yet Sameera refuses to call it a wildlife problem.
“This is a human-created crisis,” he says. “Elephants are only responding to what we’ve done to their world.”
From expressways cutting through forests to solar farms replacing scrublands, development continues without ecological memory or long-term planning.
“We plan five-year political cycles,” Sameera notes. “Elephants plan in centuries.”
The tragedy is not just ecological. It is moral.
“We are destroying a species that is central to our culture, religion, tourism and identity,” Sameera says. “And then we act surprised when they fight back.”
The Question We Avoid Asking
If Udawalawe is overcrowded, if Yala is saturated, if Wilpattu is bursting — then the real question is not where to put elephants.
The real question is: Where have we left space for wildness in Sri Lanka?
Sameera believes the future lies not in more fences or more parks, but in reimagining land itself.
“Conservation cannot survive as an island inside a development ocean,” he says. “Either we redesign Sri Lanka to include elephants, or one day we’ll only see them in logos, statues and children’s books.”
And the map will show nothing but empty green patches — places where giants once walked, and humans chose. roads instead.
By Ifham Nizam
Features
Challenges faced by the media in South Asia in fostering regionalism
SAARC or the South Asian Association for Regional Cooperation has been declared ‘dead’ by some sections in South Asia and the idea seems to be catching on. Over the years the evidence seems to have been building that this is so, but a matter that requires thorough probing is whether the media in South Asia, given the vital part it could play in fostering regional amity, has had a role too in bringing about SAARC’s apparent demise.
That South Asian governments have had a hand in the ‘SAARC debacle’ is plain to see. For example, it is beyond doubt that the India-Pakistan rivalry has invariably got in the way, particularly over the past 15 years or thereabouts, of the Indian and Pakistani governments sitting at the negotiating table and in a spirit of reconciliation resolving the vexatious issues growing out of the SAARC exercise. The inaction had a paralyzing effect on the organization.
Unfortunately the rest of South Asian governments too have not seen it to be in the collective interest of the region to explore ways of jump-starting the SAARC process and sustaining it. That is, a lack of statesmanship on the part of the SAARC Eight is clearly in evidence. Narrow national interests have been allowed to hijack and derail the cooperative process that ought to be at the heart of the SAARC initiative.
However, a dimension that has hitherto gone comparatively unaddressed is the largely negative role sections of the media in the SAARC region could play in debilitating regional cooperation and amity. We had some thought-provoking ‘takes’ on this question recently from Roman Gautam, the editor of ‘Himal Southasian’.
Gautam was delivering the third of talks on February 2nd in the RCSS Strategic Dialogue Series under the aegis of the Regional Centre for Strategic Studies, Colombo, at the latter’s conference hall. The forum was ably presided over by RCSS Executive Director and Ambassador (Retd.) Ravinatha Aryasinha who, among other things, ensured lively participation on the part of the attendees at the Q&A which followed the main presentation. The talk was titled, ‘Where does the media stand in connecting (or dividing) Southasia?’.
Gautam singled out those sections of the Indian media that are tamely subservient to Indian governments, including those that are professedly independent, for the glaring lack of, among other things, regionalism or collective amity within South Asia. These sections of the media, it was pointed out, pander easily to the narratives framed by the Indian centre on developments in the region and fall easy prey, as it were, to the nationalist forces that are supportive of the latter. Consequently, divisive forces within the region receive a boost which is hugely detrimental to regional cooperation.
Two cases in point, Gautam pointed out, were the recent political upheavals in Nepal and Bangladesh. In each of these cases stray opinions favorable to India voiced by a few participants in the relevant protests were clung on to by sections of the Indian media covering these trouble spots. In the case of Nepal, to consider one example, a young protester’s single comment to the effect that Nepal too needed a firm leader like Indian Prime Minister Narendra Modi was seized upon by the Indian media and fed to audiences at home in a sensational, exaggerated fashion. No effort was made by the Indian media to canvass more opinions on this matter or to extensively research the issue.
In the case of Bangladesh, widely held rumours that the Hindus in the country were being hunted and killed, pogrom fashion, and that the crisis was all about this was propagated by the relevant sections of the Indian media. This was a clear pandering to religious extremist sentiment in India. Once again, essentially hearsay stories were given prominence with hardly any effort at understanding what the crisis was really all about. There is no doubt that anti-Muslim sentiment in India would have been further fueled.
Gautam was of the view that, in the main, it is fear of victimization of the relevant sections of the media by the Indian centre and anxiety over financial reprisals and like punitive measures by the latter that prompted the media to frame their narratives in these terms. It is important to keep in mind these ‘structures’ within which the Indian media works, we were told. The issue in other words, is a question of the media completely subjugating themselves to the ruling powers.
Basically, the need for financial survival on the part of the Indian media, it was pointed out, prompted it to subscribe to the prejudices and partialities of the Indian centre. A failure to abide by the official line could spell financial ruin for the media.
A principal question that occurred to this columnist was whether the ‘Indian media’ referred to by Gautam referred to the totality of the Indian media or whether he had in mind some divisive, chauvinistic and narrow-based elements within it. If the latter is the case it would not be fair to generalize one’s comments to cover the entirety of the Indian media. Nevertheless, it is a matter for further research.
However, an overall point made by the speaker that as a result of the above referred to negative media practices South Asian regionalism has suffered badly needs to be taken. Certainly, as matters stand currently, there is a very real information gap about South Asian realities among South Asian publics and harmful media practices account considerably for such ignorance which gets in the way of South Asian cooperation and amity.
Moreover, divisive, chauvinistic media are widespread and active in South Asia. Sri Lanka has a fair share of this species of media and the latter are not doing the country any good, leave alone the region. All in all, the democratic spirit has gone well into decline all over the region.
The above is a huge problem that needs to be managed reflectively by democratic rulers and their allied publics in South Asia and the region’s more enlightened media could play a constructive role in taking up this challenge. The latter need to take the initiative to come together and deliberate on the questions at hand. To succeed in such efforts they do not need the backing of governments. What is of paramount importance is the vision and grit to go the extra mile.
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