VISION 2021 0 141

VARUNI AMUNUGAMA FERNANDO ( Jt. Managing Director – Triad,  Director – Derana Media Network )

When the world froze in shock in the face of the Covid-19 pandemic, Sri Lanka in my opinion managed the situation in a timely manner, placing the welfare and health of our people first. 

Living in ‘the new normal’ is undoubtedly a work in progress, and just like the rest of the world, our nation is trying to balance conventional methods of managing a crisis with our own indigenous innovations. There is an inherent resilience in this blessed land where no matter the challenge, we always find a way. 

It was sadly inevitable that the economy would be adversely affected, leaving many of our key industries struggling. As we work towards managing the pandemic and beyond, what is important is the steadfast vision of the political leadership, efficiency and integrity of the administration, and the participatory action of the business sector. 

As a group, we took the leadership in calling on corporates to reconsider salary cuts, layoffs and redundancies as a first course of action at the very outset of the pandemic. Founded on a people-driven strategy of management, our group was proud to set an example of ‘shared resilience’, where we deployed all our verticals, especially our communications network to support emergency national initiatives. 

It is not the past but the future that matters. We will take every step to continue to create wealth for this country, and uplift the lives of people by focusing on entrepreneurship development, crafting positive mindsets, and building the next generation to be global locals. 

We have always believed that ‘Sri Lanka Can’. We will continue to do our best using our resources and acumen to transform our motherland.

Nanda Fernando  ( Managing Director, Sampath Bank PLC )

After facing back-to-back challenges, 2021 is the year we are looking forward to, and one that we expect will usher in an era of sustained economic prosperity. We are hopeful that the Covid-19 pandemic will come to an end during 2021, and given the conducive environment created through stable politics, a pro-growth budget presented by the government, and low interest rates, both investment and consumption demand will pick up strongly during the year. Sampath Bank has made all necessary preparations to ride this wave of prosperity together with our customers and other stakeholders. 

S. Renganathan   ( Managing Director / Chief Executive Officer, Commercial Bank PLC )

“It is not realistic, nor is it sustainable to expect immediate growth following an all-encompassing and on-going global crisis. While we adjust and adapt towards the new normal, it is important to stick to basics; sustainable growth strategies that uplift your stakeholders, business continuity planning, innovation, and most important of all, a positive outlook.  “

Ashroff Omar   ( Group CEO, Brandix Apparel Limited )  

“Against the backdrop of a global pandemic that has affected millions, cost thousands of lives and caused a recession worldwide, it is hard to see opportunities, let alone stay optimistic. However, the pandemic also brought a big pause in our lives; facilitating a mindful intentionality. My biggest learning in this crisis is, for myself and my team, to focus on things we can control rather than worry about things that we cannot. At the heart of this is the welfare of our people.

As organisations, we need to take this opportunity to examine our systems, structures and processes end-to-end. Our goal should be to eliminate waste and rework, further optimise and digitise workflows so that as individuals, we are efficient, best-in-class, and physically and emotionally well rested. This will enable Sri Lankan industries to withstand the current recession, by creating a runway long enough to recapture the market as economies bounce back. 

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Herd Behavior – Driven by Market Share 0 624

By : Kenneth De Zilwa

  • Global stock markets are strongly correlated to each other and this makes any financial  contagion rather predictable and broad based.Herd Behavior - 01
  • From Asian Markets to the European Markets investors find their collective behavior of chasing earnings leading to a herd mind set. This mind set can be both good and bad, in fact more exemplified when the bad unfolds as many tend to sell out pushing a rapid fall while short selling adds to the avalanche effect
  • Over the past year the stock markets have declined
    • S&P –US by 10.14%
    • FTSE-UK by  0%
    • Nikkie-Japan- by  78%
    • DAX-Germany by  0%
    • CSE –Sri Lanka by 6.07%
  • Therefore, 2019 we feel could be a year where markets correct lower, as  corporate earnings and higher debt on many corporate balance sheets  makes it a challenging time for markets.

Herd Behavior - 02

  • Our advice is to stay in cash and watch for value stocks , as the market will provide the opportunity  given the  business cycle

 

BiZnomics Global Out-front Comments Off on BiZnomics Global Out-front 665

Global-Outfront

President Trump offered to meet North Korean leader Kin Jong Un at the demilitarised zone following the G 20 Summit raised prospects for a third face to face meeting between the two leaders.

G -20 Osaka Summit 

14th G-20 Summit – a forum of 19 member countries and European Union was held in Osaka, Japan 28 -29 June 2019 with the participation of heads of G 20 Governments. International Monetary Fund, Asian Development Bank (ADB), International Labour Organization (ILO), Organization for Economic Corporation and Development (OECD), United Nations (UN), World Bank (WB), World Health Organization (WHO), World Trade Organization (WTO), represented in the summit by their respective heads of Institutions. 

Global-Outfront-01

Collectively G 20 nations represent more than 80 percent of global output and 2/3 of its people. Easing the global tension centred around US – China trade dispute, President Trump announced that he has agreed to allow US companies to sell high tech components to Chinese telecommunication giant Huawei. He also announced that China will buy more US farm goods. US President indicated that US will call off raising tariff on Chinese goods and negotiations to end the trade dispute between two countries will continue.

Prime Minister Abe who hosted the G 20 Summit explained that global leaders have affirmed free and fair and inclusive economy and open competition are the principals to lead the world economy in future.

Global-Outfront
Source: IMF Economic Outlook

 

 

Global Outfront
Source: IMF Economic Outlook

 

As estimated by IMF total GDP of G20 nations of nearly USD 60 trillion account for 78 percent of the world total GDP of USD 88 trillion. In terms of population, G20 nations is estimated to have 4.6 billion people in 2019 accounting for 61 percent of the world total population of 7.5 billion. China takes the lead with 31 percent and India accounts for 29 percent making two emerging nations in Asia having 60 percent of the population of G20 nation.

By: BiZnomics research team

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