Book Review
Economics in simple and digestible form
Much has been spoken and written about business and corporate
affairs, but very few versions are in simple and digestible form.
Business and Corporate Affairs authored by Sunil Karunanayake, a
well-known chartered accountant and business and sports writer provides
an indepth analysis of the economy of Sri Lanka spanning over seven
years.
The 257-page book comprises five sections: Business /Corporate,
Banking/Finance, Economic affairs/ Education and social overheads and
Changes and Development.
The author begins from 2004/05 where the Sri Lankan economy was under
heavy stress amidst problems in the North and the East .
The author has laid emphasis on the importance of promoting a vibrant
export sector and restricting imports to bride the widening trade
deficit.
The chapter on arbitration-an impetus for conducive investment
climate shows the significance of alternative dispute resolution
mechanisms which are popular and effective due to the long delays in the
court system.
The writer gradually takes the reader along a progressing path
reflecting the reign of President Mahinda Rajapaksa whose tenure moved
the country on course to a progressive path with the cessation of
terrorism in the North and the East.
Fittingly, the author has paid tribute to President Rajapaksa in two
articles “Battle of Thurstan Road and Thurstan’s tribute to him tracing
his hurly, burly school days at Thurstan College which the author
clearly remembers.
The Governor of the Central Bank, Ajith Nivard Cabraal adds in his
foreword, “Mr Karunanayake my long-standing friend, brings his years of
experience as a journalist and fellow Chartered Accountant to this book
on wide-ranging areas from economics, banking and finance, law and
sports.
He said “I am pleased to see that Karunanayake has selected a period
for his analysis where the field of business and corporate affairs in
Sri Lanka has witnessed some significant changes.
The author’s effort to focus on contemporary issues such as the US
sub Prime crisis, the new direction for the tea industry, IFRS latest
phase in Financial reporting, post crisis developments of the banking
industry with reference to latest legislations such as Dodd Frank's Wall
Street Reforms,sports economy, retirement benefits and the ageing
population enriches the value of the book.
The author’s interview with the IMF representative in Sri Lanka,
Koshy Mathai in the midst of Sri Lanka’s problems and the resultant IMF
bailout using titles from Winston Churchill’s famous multi-volume
history of “world War 11” provides interesting reading.
The author has taken great pains to spare much of the space for the
tsunami and its aftermath in a moving manner.
Dr Wickrema Weerasooria, an eminent lawyer, diplomat and academic
presented an elaborate review of the book commending the author while
MDD Pieris distinguished civil servant of yesteryear made an analytical
presentation on selected chapters of the book.
There’s little doubt that Sunil Karunanayake has made a valiant
effort to provide the local readership with a useful handbook that could
be easily referred.
As” Dr Anura Ekanayake past chairman of the Ceylon Chamber of
Commerce said “Sunil Karunanayake is a master of the art of presenting
technical content in simple and easily digestible form.
This delightful collection of his work published in recent times in
various journals is a must -read for all serious students and
practitioners of all spheres of economics.
For students this will serve as a convenient introduction and a
reliable source of contemporary issues during the post 2005 era.
For the practitioner who struggles with time to keep up with current
issues, this book will be a timely gift”.
The book has been made richer with neat layouts, quality printing and
high quality cover design that should please the local readership who
are starved of such complete products.
Karunanayake launched his maiden publication at the Auditorium of the
Institute of Chartered Accountants Sri Lanka recently.
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