The ‘new’ receptionist!
A speaking, walking robot (no… not an eating one!) that can perform the role of a receptionist was unveiled at the INFOTEL 2025 exhibition at the BMICH on Friday in the presence of Deputy Minister of Digital Economy Eranga Weeraratne. Pic by Indika Handuwala
AI deep fakes lure Sri Lankans into costly investment scams
A chilling new wave of cybercrime is sweeping across Sri Lanka, as scammers use Artificial Intelligence (AI) to create convincing deep fake videos featuring well-known business leaders, government officials, and celebrities — all promoting fake investment schemes that promise extraordinary returns. At first glance, these slick videos look genuine. Shot as professional “interviews” in Sinhala [...]
Budget 2026 focuses on growth, development and advancing SMEs
The Budget 2026 presented in Parliament by President Anura Kumara Dissanayake on Friday revealed a range of allocations and reforms aimed at ensuring economic stability, boosting healthcare, promoting digital transformation, and improving social welfare with critical concentration on the digital economic development. The proposals indicate a focus on reform and inclusivity — emphasising investments in [...]
Govt. to move out of plantations
President Anura Kumara Dissanayaka has made a clear indication time and again that the government needs to move out of the plantations due to the heavy losses incurred in running these and as a result authorities will be leasing out the properties of the state run plantations. An advertisement published by the Plantation Ministry dated [...]
Banks auction properties of ‘wilful’ defaulters
Commercial banks have resorted to auctioning a substantial number of mortgaged properties which have not been settled by creditors after the resumption of the parate execution law, allowing banks to seize mortgaged properties without court sanction. Bankers told The Sunday Times Business that after June 30 this year they were allowed to auction properties above [...]
Mirotone acquisition to repaint JAT on global stage
JAT Holdings PLC’s New Zealand-based Mirotone (NZ) Ltd, a leading name in industrial wood coatings, will pivot the company onto the global stage. “We have been studying a few of the companies in Thailand and the Philippines, and also in Australia, and finally we set our sights on New Zealand’s Mirotone, a globally recognised coatings [...]
Weaponising poverty
Woken up at 6 a.m. by a call on Thursday. Who was calling at this ungodly hour? It was Arty, the intrepid entrepreneur. “Hello….hello, I hope I didn’t wake you up,” he said, excitedly. How could I disappoint him when he appeared to have something interesting to say? “No, it’s fine. I was about to [...]
Expenses of the West, taxes of the East
Government spending in Western countries is typically high, reflecting their commitment to expansive welfare systems and public services. In contrast, East Asian nations tend to operate with leaner governments and lower tax revenues. Attempting to combine these two extremes—adopting Western-style spending while maintaining Eastern-style taxation—is a recipe for fiscal disaster. Sri Lanka, unfortunately, has already [...]
Five Indian systems operators shortlisted for SLUDI
Infosys Ltd, Tata Consultancy Services Ltd, Protean e-Gov Technologies Ltd, RailTel Corporation of India Ltd and Bharat Electronics Ltd have qualified as bidders after the pre-qualification round called by the National Institute for Smart Government (NISG) for appointment of a Master System Integrator (MSI) for development, Implementation and Maintenance of the Sri Lanka Unique Digital [...]
People’s Bank promotes Financial Literacy at FinLit Expo Galle
People’s Bank recently took part in the FinLit Expo Galle 2025, organised by the Central Bank of Sri Lanka, reaffirming its commitment to advancing financial literacy and inclusion across the nation. At the event, People’s Bank engaged with a wide cross-section of the public, offering valuable insights on digital banking, investments, and smart money management. [...]
JKH doubles EBITDA to Rs.18.3 bn in 2ndQ2025/26
The John Keells Group (JKH) has reported a strong performance in the latest quarter (ending September 2025) marked by the contribution from its new investments and businesses as well as a robust contribution across the portfolio. The operationalising of key investments in the first half of the year provides a strong platform to translate to [...]
Networking on “Doing Business in Vietnam”
As another step towards enhancing economic relations between Vietnam and Sri Lanka, a business networking event themed Doing Business in Vietnam – was held at the Ceylon Chamber of Commerce recently. The event was jointly organised by the Embassy of Vietnam in Sri Lanka and the Sri Lanka Greater Mekong Business Council of the Ceylon [...]
From reluctance to relief with STR in movable asset financing
Financial sector credit committees were reluctant to provide financing for movable assets because they did not have a suitable legal framework, transparency, or options for lenders to seek recourse, but the Secured Transactions Registry (STR) has changed that. Aimed at small and medium enterprises (SMEs), facilitating enhanced credit access through movable collateral, the STR was [...]
MAS’ multiple wins at Presidential Environmental Awards
MAS Holdings has emerged as one of the most lauded organisations at the recently concluded Presidential Environmental Awards 2025, securing multiple honours across the apparel and textile sector. In the Textile and Textile Processing Industry category (Type A & B), MAS Active Linea Intimo received the Gold Award, MAS Kreeda Vaanavil earned Silver, and Silueta [...]
The Fraught Politics of Corporate Disclosures
CHICAGO – In a recent Financial Times commentary, US Securities and Exchange Commission (SEC) Chairman Paul Atkins argued that, “the SEC should only require companies to supply information under the objective standard of whether a reasonable investor would regard it as important to an investment decision. Rules written for shareholders who seek to effect social [...]
Investors say BOI lacks experienced staff
The Board of Investment (BOI) is currently facing a serious dearth of experienced officers as a result of which there are delays in carrying out daily tasks, some investors point out. It is learnt that due to a drop in recruitment a significant number of officers have now retired leading to delays at the BOI. [...]
Janashakthi Finance records strong growth in H1 ‘25/’26
Janashakthi Finance PLC, formerly known as Orient Finance PLC and a subsidiary of JXG (Janashakthi Group) has announced a solid financial performance for the first half of the financial year ended 30th September 2025, reporting strong growth across key business metrics and continued progress in executing its long-term strategic priorities. The company delivered a Profit [...]
SolarIT Solutions acquires Sri Lanka’s Tetris.lk
SolarIT Solutions, a Canada-based IT consulting and tech services firm, has completed its acquisition of Tetris Pvt Ltd, a Sri Lankan digital experience agency. The acquisition strengthens SolarIT’s presence in South Asia, expanding its ability to deliver digital transformation solutions through a globally distributed team, the company said in a media release. Through this acquisition, [...]
Emirates to Dubai: Over 700 offers this winter
Emirates has announced exclusive offers this winter with My Emirates Pass; with access to over 700 exclusive offers across Dubai. In addition to year-round benefits, Emirates has introduced seasonal offers giving travellers even more ways to make the most of their Dubai visit, the airline said in a media release. Running until March 31, 2026, [...]
Dormant SOEs emerge as a major accountability crisis
Sri Lanka’s much-publicised state-sector reform agenda is now under serious scrutiny, as the latest audit by the Auditor General’s Department reveals a catalogue of stalled closures, missing data and mounting hidden liabilities in the state -owned enterprise sector. As of July 30, 2024, the government records list 30 public companies and two public corporations officially [...]
Women’s Leadership at the Heart of Lasting Peace
Co-authored by Matthew Duckworth, Australian High Commissioner- designate; Andrew Patrick, British High Commissioner; Isomata Akio, Ambassador of Japan; Ambassador Siri Walt, Embassy of Switzerland, and Ramaaya Salgado, Head of Office, UN Women Sri Lanka. On October 31, 2000, the UN Security Council adopted the landmark Resolution 1325 on Women, Peace and Security. Twenty-five years later, [...]
Southern Cross University, NSBM to deliver Australian degrees locally
Southern Cross University (Australia) and NSBM Green University (Sri Lanka) signed a ground-breaking partnership recently to deliver an offshore programme that will allow Sri Lankan students to earn Australian degrees locally at NSBM – without needing to relocate to Australia. This collaboration aims to expand access to globally recognised qualifications, enhance academic mobility, and deliver [...]
Entrepreneurship focus at COYLE Leadership Forum 2025
The Chamber of Lankan Entrepreneurs (COYLE) is once again championing Sri Lanka’s entrepreneurial spirit with the much-anticipated ‘I AM COYLE Leadership Forum 2025’, scheduled to take place tomorrow (Monday) at the Shangri-La Hotel, Colombo. The ‘I AM COYLE Leadership Forum’ brings together a distinguished panel of speakers, each representing a unique facet of leadership and [...]
UNDP offers partnership to Sri Lankan universities
The United Nations Development Programme (UNDP), through its latest initiative, has extended technical assistance to Sri Lankan universities to enhance their higher education curricula by integrating biodiversity financing concepts. This effort is part of the UNDP’s global Biodiversity Finance Initiative (BIOFIN), which was launched in 2012 and has since expanded to 135 countries. Sri Lanka [...]
Fairfax Asia Summit in Sri Lanka for the first time
Fairfirst Insurance has hosted the Fairfax Asia Summit 2025 in Colombo, bringing together leaders and delegates from across the Fairfax Asia Group and Fairfax Financial Holdings for two days of collaboration, learning, and celebration. This marked the first time the summit was held in Sri Lanka, reflecting both the trust and recognition of Fairfirst’s growing [...]
Sri Lankan female-led Tech Entrepreneurs at Dubai fair
A delegation of Sri Lankan female-led tech entrepreneurs participated in GITEX Global & Expand Northstar 2025, one of the world’s most prestigious technology and investment platforms, held in Dubai on October 12-17, 2025. Organised by the Sri Lanka Export Development Board (EDB) in collaboration with the Consulate General of Sri Lanka in Dubai, the Technical [...]
Ceylon Shipping at crossroads: Reviving a national maritime asset
Once regarded as a cornerstone of Sri Lanka’s maritime identity, the Ceylon Shipping Corporation Ltd (CSC) stands today as a reminder of both resilience and risk within the state enterprise landscape. After weathering years of operational and financial storms, the corporation’s return to profitability in 2023/24 offers a glimmer of renewal but also exposes the [...]
Strengthening microfinance through Business Development Services
In my earlier article, “Microfinance Act: A Second Chance for Sri Lanka?”, I discussed how the proposed Microfinance and Credit Regulatory Authority Act (MCRA) can restore confidence and fairness in the sector by ensuring that microfinance once again serves as a genuine tool of empowerment. Yet even the most progressive regulatory framework will fall short [...]
Browns accelerates tea production expansion in East Africa
Browns Plantations, the world’s largest tea grower and a global leader in sustainable agricultural solutions, is significantly expanding its Orthodox tea production capacity across East Africa. This strategic move aligns with the company’s vision to deliver premium, sustainable, and technologically advanced agricultural products while supporting local communities and optimising operational efficiency, the company said in [...]
LOLC Al-Falaah honoured as ‘NBFI of the Decade’ at IFFSA 2025
LOLC Al-Falaah, the Alternate Financial Services unit of LOLC Finance PLC, was once again in the spotlight at the 10th Islamic Finance Forum of South Asia (IFFSA) Awards, held recently at the Shangri-La Hotel, Colombo. The brand emerged as one of the evening’s biggest winners, reaffirming its position as Sri Lanka’s most awarded and trusted [...]
Sysco’s Global Tech Leaders visit local unit
Sysco LABS, the Global Innovation Centre for Sysco, recently hosted the company’s Global Technology Leadership Team (TLT) during a four-day visit to its Sri Lankan centre. The delegation included Tom Peck (Executive Vice President & Chief Information and Digital Officer), Lise Monahan (Vice President, Technology, Enterprise Solutions, Global Centers & OCIDO), Justin Hooper (Vice President [...]
NDB delivers strong 65 % growth in Jan-Sept 2025
National Development Bank PLC, releasing its financial results for the nine months ending September 30, 2025, has seen impressive profitability growth backed by sound core banking operational growth. Net operating income and pre-tax profit expanded by 32.3 per cent and 62.1 per cent to reach Rs. 28.4 billion and Rs. 11 billion, respectively (9M-24: Rs. [...]