Entrepreneurship by former migrant workers
Handicrafts and other products by former migrant workers were on display on Thursday at a Migrant Workers Fair at Battaramulla organised by the Sri Lanka Foreign Employment Bureau. Seen here are some of the stalls. Pic by M.A. Pushpakumara
Customs under scrutiny as audit exposes massive revenue leakages
The Sri Lanka Customs, the most powerful revenue-generating agency and the country’s frontline guardian of imports and exports, is facing an escalating crisis of credibility despite recording its strongest fiscal performance in history. Customs revenue as of the first 10 months of 2025 topped Rs. 2 trillion. It has been reaching around Rs. 2,004 billion [...]
Govt. says no Rs.200 hike to smallholder workers
The government has meted out step-motherly treatment to tea smallholder estate workers in the new 200-rupee wage hike funded by the state, declining to pay this amount even though smallholders are ready to pay the increase of Rs.200. All estate sector workers in the country have been promised an increase by the government but amidst [...]
Customs to take over certain BOI functions in May
The Sri Lanka Customs (SLC) will be taking over the import and export facilitation process of Board of Investment (BOI) companies as part of a pilot project from May 2026. SLC Director General Seevali Arukgoda speaking with The Sunday Times Business said that the entire import and export clearance will be handled by them. “We [...]
New Gambling Regulator to rein in Casino sector
Sri Lanka will enforce its most sweeping regulatory shift in decades as the Gambling Regulatory Authority (GRA) Act No. 17 of 2025 takes effect on December 1, bringing the whole industry under one independent regulator. The activation seals a decisive state intervention in a sector that for long had faced criticism for weak oversight, opaque [...]
5 Indian IT firms hold discussions with ICTA
Five systems operators shortlisted for Sri Lanka Unique Digital ID by the National Institute of Smart Government (NISG) in India arrived in the country last week, top officials said. “The potential master systems integrators were allowed to discuss with us so that they will also get a good understanding of the current landscape in this [...]
Protecting the family jewels
Many years ago in July 2006, I was part of a team of journalists, which included a veteran newspaper editor, visiting Poland on a Polish government-sponsored trip to learn about the economy, business, culture and people. After arriving in Warsaw and having refreshed at a hotel, we were taken to a Polish restaurant and to [...]
Vietnam’s VAT reduction
Over the past two weekends, we examined in this column Sri Lanka’s budgetary challenges. In response, one of our colleagues from Vietnam, Dr. Chien Nguyen—who completed his doctoral studies in Sri Lanka—shared an interesting update in our WhatsApp group: “We have just reduced our VAT rate in Vietnam from 10 to 8 per cent.” This [...]
Coffey & Consult partners with tech entrepreneur, Banu Athuraliya
Coffey & Consult, a US-based leader in human-centred technology consulting and AI enablement, has announced a new international partnership with Banuka (Banu) Athuraliya, founder of Andro Dollar Network (Pvt) Ltd and a globally respected technology strategist based in Sri Lanka. Known online as Andro Dollar, Banu blends his expertise in technology, entrepreneurship, and content creation [...]
New Anthoney’s Farms invests Rs. 500 m in value-added product range
New Anthoney’s Group, a leading sustainable poultry producer in Sri Lanka, has announced a Rs. 500 million additional investment to expand its value-added product range, alongside the official launch of its premium product line, Chicken Havens. The expansion, aimed at quadrupling production capacity within six months, represents a transformative moment for Sri Lanka’s poultry industry. [...]
Digital Government payments extended to the North
iPay, in a major stride toward fostering financial inclusivity and digital empowerment, has announced the expansion of its GovPay services across Sri Lanka’s Northern Province, enabling citizens to make secure and convenient government payments digitally. The initiative covers the districts of Jaffna, Kankasanthurai, Kilinochchi, Mullaitivu, Vavuniya, and Mannar, offering residents a transformative alternative to time-consuming [...]
Sri Lanka’s debt process nears closure as airline bond awaits final approval
Sri Lanka’s bid to declare its external debt restructuring “99 per cent complete” has come under new scrutiny, as official filings and creditor communications show that the restructuring of the Government-guaranteed SriLankan Airlines (SLA) US$175 million bond remains unresolved despite public claims of imminent closure. Treasury Secretary Harshana Suriyapperuma, in a statement issued alongside a [...]
99x Agentri reshaping industry, an algorithm at a time
Industries such as finance, insurance, and transportation are significantly benefited by Agentri AI’s transformative capability, which enables partnerships among multiple AI agents to address complex business challenges. Hasith Yaggahavita, CEO of 99x Product Engineering, at the recent launch of the company’s latest innovation, Agentri AI, shared how 99x engineering teams have adopted AI tools and [...]
SL in Tier 2 of Global Cybersecurity Index
Sri Lanka has advanced to Tier Two in the Global Cybersecurity Index, alongside countries such as China, Canada, Austria, and Switzerland. Dr. Kanishka Karunasena, Acting Chief Executive Officer of Sri Lanka Computer Emergency Reporting Team (SLCERT), addressing the cybersecurity conference held recently, noted the strategic progress of the National Cybersecurity Strategy, which focuses on four [...]
Get-together of Sri Lankan seafarers
Bernhard Schulte Shipmanagement (BSM) marked another milestone on a journey of professional growth by hosting its first-ever ‘Ex-Hand Meet of Seafarer Gathering’ at the prestigious Cinnamon Lakeside Hotel in Colombo last week. This event celebrated the invaluable contributions of Sri Lankan seafarers to global maritime operations and reinforced BSM’s commitment to their welfare and professional [...]
SLT Group reports strong Q3, 9-M-results
The SLT Group has reported a strong performance for the third quarter and nine months ended September 30, 2025 with the third quarter of 2025 showing a group Profit After Tax (PAT) of Rs. 2.2 billion, compared to Rs. 1.1 billion in Q3 2024. At company level, SLT PLC witnessed similar traction, posting a sharp [...]
Green Tape records 10,000th digital tender; new era of private sector procurement
Green Tape, Sri Lanka’s cutting-edge integrated digital procurement ecosystem, has reached a major milestone with the execution of its 10,000th tender; underscoring the growing shift toward transparent, accountable, and sustainable business practices. This tender, for the supply of electronics and computer hardware, was called by Alliance Finance Company PLC, and the successful bidder was Leosys [...]
Visa and ComBank enable Google Pay for their cardholders
Commercial Bank of Ceylon PLC is collaborating with Google and Visa, a global leader in digital payments, to enable Google Pay for its cardholders as part of the Google Wallet launch. Commercial Bank is the only bank in the Sri Lankan market to enable Google Pay for its Visa cardholders, giving its customers a first-mover [...]
Sri Lanka risks losing AI future without urgent investment push
The government positions Artificial Intelligence (AI) as a core driver of national economic transformation. But the financial commitment in the Budget 2026 behind this ambition remains insufficient, several IT specialists and industry heads said. With only Rs. 3 billion allocated for AI development, national data platforms, and government-run data centres, the gulf between ambition and [...]
SEC in touch with social media platforms
The Securities Exchange Commission (SEC) has approached certain entities and platforms in the virtual space pertaining to the various posts violating the SEC regulations, officials said. Recently the regulator cautioned those recommending investments online without proper registration as an investment advisor or an authorised entity under the SEC. The officials said that the SEC has [...]
HNB wins Best Corporate Citizen Sustainability Award 2025
Hatton National Bank (HNB) won the coveted ‘Best Corporate Citizen Sustainability Award 2025’ at the 22nd Best Corporate Citizen Sustainability Awards organised by The Ceylon Chamber of Commerce at the Cinnamon Grand Hotel, on November 19. Commercial Bank of Ceylon and Hemas Holdings were adjudged the first and second runners-up, respectively, the chamber said in [...]
New reinsurance unit launches Sri Lanka operations
Policybazaar.com, one of India’s largest insurance platforms, has announced the launch of its reinsurance operations in Sri Lanka, Qatar, Oman, and the UAE. With this move, Policybazaar becomes one of the first India-based intermediaries to introduce a technology-driven reinsurance model across Asia and the Middle East, regions that are rapidly growing yet continue to face [...]