Biznomics

14/07/2025

https://www.dailymirror.lk/print/news-features/The-quiet-unraveling-How-IMF-reforms-are-reshaping-Sri-Lankas-economic-future/131-314009 #:~:text=A%20quiet%20but%20profound%20economic,and%20state%2Downed%20enterprise%20restructuring

Dr Kenneth De Zilwa talks about "A quiet but profound economic shift" happening below the surface of masked reforms

Two years into Sri Lanka’s IMF-supported reform programme, a transformation is unfolding quietly but with lasting implications. Public attention has focused on headline reforms such as fiscal consolidation, interest rate liberalisation, and state-owned enterprise restructuring.

Yet, beneath these surface changes, deeper shifts in cost structures, industrial competitiveness, and economic autonomy are taking place. Central to this is the introduction of an 18% VAT on digital services effective October 2025, alongside currency depreciation and structural policy shifts.

While these measures aim to stabilise public finances, they risk throttling Sri Lanka’s vibrant digital economy and export and industrial sectors, raising broader questions about the country’s market share for its industrial future and economic resilience.

Sri Lanka’s economic future is being quietly reshaped beneath the surface of fiscal targets and IMF scorecards. ..

13/07/2025

⚠️ Sri Lanka’s Tech Future Held Hostage by IMF Reforms 💣
Dr. Kenneth De Zilwa exposes the real cost of the IMF’s economic prescriptions.

From October 1, the new 18% VAT on foreign digital services a condition of the IMF program threatens to strangle Sri Lanka’s ICT sector, a vital foreign exchange earner.

🚫 Startups crushed
🚫 Freelancers priced out
🚫 Exporters made uncompetitive
🚫 Global digital services could geo-block Sri Lanka

💬 "This isn’t just a tax it’s digital suffocation. A death blow to innovation, competitiveness, and Sri Lanka’s global tech relevance," warns Dr. De Zilwa.

💰 While the IMF demands revenue targets, Sri Lanka risks burning the very bridge to its future economy.

🧠 Smart nations invest in digital. We’re taxing ours into retreat.

📉 Dr de Zilwa questions "Is this reform? Or regression?"

Read more about this 👇

https://www.dailymirror.lk/business-247/Industry-leader-warns-of-digital-isolation-as-new-VAT-threatens-to-derail-Sri-Lankas-ICT-sector/395-313833

With Sri Lanka’s new 18 percent Value Added Tax (VAT) on foreign digital services now a settled policy taking effect this October, focus has sharply shifted to its potential economic fallout. ..

20/05/2025

🚀 Exciting Insights on the Future of Payments!

LankaPay CEO Channa de Silva recently sat down with to discuss the evolving landscape of digital payments and the strategic importance of the Asian Payments Network.

Key highlights from their conversation:
✨ Innovation driving financial inclusion across Asia
💡 The role of cross-border payment solutions in regional connectivity
🌐 Building seamless payment ecosystems for the digital economy
🤝 Strengthening partnerships within the Asian financial technology sector

As we move toward a more connected digital future, collaborations like these are paving the way for enhanced payment experiences across the region.



🔗 Stay tuned for more insights on the future of payments in Asia!

04/04/2025

🌐 The Future of Digital Payments in Sri Lanka 💳🚀

LankaPay has been at the forefront of revolutionizing digital transactions in Sri Lanka, paving the way for a seamless, secure, and cashless future. But what’s next? 🤔

Join LankaPay Chairman Mr Lakshman Silva in an exclusive conversation with Biznomics Digital, where he shares insights on the evolution of digital payments, the road ahead, and LankaPay’s vision for financial inclusivity and innovation.

💡 What does the future hold for LankaPay?
💡 How will digital payments redefine Sri Lanka’s economy?

Stay tuned for a thought-provoking discussion on the next wave of fintech transformation! 🔥💼

02/12/2024

Watch Now: Biznomics in Conversation with Lanak Pay CEO Mr. Channa De Silva - How QR Payments are Transforming Sri Lanka.

Link : https://youtu.be/kzjlbxUlw3Y?si=Bk0bW4peuQZPSoY_

23/11/2024

BRICS Revolutionizes Global Finance: A Game-Changer by Biznomics! 🌍💰

Exciting developments are underway as BRICS nations unveil their ambitious plans for a multilateral digital payment platform and blockchain-based settlement system, aiming to reduce reliance on the US dollar. This initiative, covered in the latest issue of Biznomics Magazine, is set to transform financial markets and enhance trade among member countries.

With the expanded BRICS+ group now representing 40% of crude oil production and a significant portion of global GDP, these innovations could redefine the future of international finance. The BRICS Bridge platform will allow transactions in national currencies, promoting economic resilience and cooperation.

As we gear up for the upcoming BRICS Summit in Kazan, the world will be watching closely. What implications do you foresee for global trade and investment? Let’s discuss!

Read more in
Biznomics Magazine.

https://biznomicsmagazine.com/economics/de-dollarizing-brics-the-rise-of-multilateral-digital-payments-and-block-chain-finance/

By Jessica Lam In a bold move to reduce reliance on the US dollar and reshape the global financial landscape, the BRICS (Brazil, Russia, India, China & South Africa) nations have unveiled ambitious plans for a new multilateral digital payment platform and block chain-based settlement system. This st...

19/11/2024

🌸 Asian Fashion Trends for Spring/Summer 2024: Versatility and Timelessness*🌸

As we step into the warmer months, the fashion landscape is evolving, particularly in Asia, where innovative styles are redefining seasonal wear. Key trends like cargo pants, Y2K styles, and floral dresses are making waves, emphasizing comfort and versatility.

Highlights include:

- Cargo Pants: A staple in many wardrobes, offering both style and functionality.
- Y2K Revival: Nostalgic tops are back, captivating a new generation.
- Floral Dresses: A timeless favorite for expressing personal style.

The focus on sustainability is also crucial, with consumers increasingly seeking brands that prioritize ethical practices. In Sri Lanka, the fashion industry is gaining recognition, blending traditional craftsmanship with modern aesthetics.

As we embrace these trends, let's support brands that champion sustainability and creativity. Together, we can shape a fashion future that is not only stylish but also responsible.

Read more about these exciting trends in the full article:
[Asian Fashion Trends for Spring/Summer 2024]

https://biznomicsmagazine.com/fashion/asian-fashion-trends-for-spring-summer-2024-versatility-and-timelessness/ 🌍✨

By Mei Ling Zhang BEIJING, July 25, 2024 – As the world embraces the warmer months, fashion enthusiasts are turning their attention to emerging trends that will define spring and summer 2024. While Western fashion maintains its influence, Asia is quietly revolutionizing seasonal wear, offering ver...

11/11/2024

In a rapidly changing world, understanding capitalism's evolution is crucial. Biznomic's latest article explores its historical roots, critiques from Karl Marx, and innovative models like "national capitalism" proposed by Dr. Kenneth De Zilwa. As we face challenges like income inequality and environmental issues, adapting capitalism to local contexts is vital for sustainable growth. Discover how nations can balance economic development with social equity to create a prosperous future for all.

Read more about the future of capitalism here:

Capitalism: A Historical Perspective and Its Future in the 21st Century
https://biznomicsmagazine.com/economics/capitalism-a-historical-perspective-and-its-future-in-the-21st-century/

Capitalism has been a dominant economic system for centuries, evolving through various phases and adapting to changing social, political, and technological landscapes. This article explores the history of capitalism, the relevance of Karl Marx’s critiques, and how different models of capitalism—...

09/11/2024

🌍✨ Navigating Global Trade: The WTO's Balancing Act! ✨🌍

The World Trade Organization (WTO) stands at the crossroads of Western and developing economies, striving to create a fair playing field in international trade. This article delves into the complexities of trade imbalances and the pressing need for reforms that empower developing nations. As geopolitical tensions rise, the WTO's role in fostering collaboration for sustainable economic growth has never been more critical.

Discover how the WTO can bridge the gap and promote equitable trade practices!

👉 Read more about this vital balancing act in international trade [here]

https://biznomicsmagazine.com/economics/the-world-trade-organization-a-balancing-act-between-western-and-developing-economies/

By Maya Chen | Senior Economic Analyst The World Trade Organization (WTO) considered the cornerstone of international trading systems has the role it plays in shaping global economic dynamics a subject of intense debate. Critics argue that the WTO disproportionately favors Western economies, while p...

08/11/2024

🚀 Mastercard's Priceless Pivot: A Financial Revolution in Asia! 🌏

Hold onto your seats, because Mastercard is shaking up the financial world in Asia like never before! 💥 With a bold vision and innovative strategies, they’re not just adapting—they're leading a thrilling evolution that’s transforming how we think about money.

From cutting-edge digital solutions to empowering local communities, Mastercard is on a mission to make finance more inclusive and accessible for everyone. This isn't just a shift; it's a revolution that promises to unlock endless possibilities! 🔑✨

💬 *Let’s ignite the conversation!* How is your organization gearing up to ride this wave of change? Are you ready to embrace the future of finance and be part of this exciting journey?

Reason for reading 📚

https://biznomicsmagazine.com/business/mastercards-priceless-pivot-how-asia-is-embracing-the-evolution-of-a-financial-giant/

By Sophia Chen, Financial Correspondent In the dynamic financial landscape of Asia, Mastercard is redefining its role and strategies, to adapt to the region’s unique challenges and opportunities. Known for its iconic “Priceless” campaign launched in 1997, the global payments technology company...

07/11/2024

Excited to share insights from Biznomics Magazine on how Huawei is shaping Sri Lanka's tech landscape! 🌐

Their commitment to digital transformation is not just enhancing local innovation but also positioning Sri Lanka on the global stage. With initiatives in AI, cloud computing, and smart city solutions, Huawei is paving the way for a tech-driven future.

Let's embrace this digital frontier and explore the opportunities it brings for growth and collaboration! 🚀

Read more about it here: [Huawei's Digital Frontier](https://biznomicsmagazine.com/tech/huaweis-digital-frontier-pioneering-sri-lankas-tech-future-and-global-dominance/

By Amara Perera, Technology Correspondent* Set in the heart of the Indian Ocean, Sri Lanka has emerged as a pivotal player in China’s ambitious Belt and Road Initiative (BRI). At the forefront of this digital transformation is Huawei, the Chinese telecommunications giant that has become synonymous...

04/11/2024

Exploring the intricate dynamics of state involvement in national assets reveals significant implications for economic growth and stability.

🌍💼 As governments navigate the balance between public and private interests, understanding these relationships is crucial for fostering sustainable development. 🌱

Check out this insightful article for a deeper dive into how state participation shapes our economies and the potential benefits it can bring! 📈✨

https://biznomicsmagazine.com/business/state-involvement-in-national-assets/

In the ongoing debate about the role of government in the economy, the success stories of state involvement in national assets from countries in Asia and the Middle East offer compelling evidence for the potential benefits of strategic state intervention. While not without challenges, the experience...