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Business Today Sri Lanka Magazine - July 2025

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In this issue

Sri Lanka’s Road to Recovery: Debt and Governance conference offered a retrospective examination of one of the most significant economic transformation efforts in Sri Lanka’s recent history.

Dialog Axiata Group invests further in Sri Lanka’s Digital Infrastructure.

Sri Lanka must move beyond Triumphalism and Bitterness.

The Tech Industry’s Workforce Crisis: 90,471 layoffs so far in 2025, projected to reach 236K by the end of the year

Harpo Gooneratne, Founder and CEO of Harpo’s Cafés & Restaurants, is a pioneering force in Colombo’s dynamic restaurant landscape. As he marks a significant milestone in 2025, he reflects on a journey of experience, passion, and resilience—qualities that have shaped a portfolio of establishments renowned for their consistency, character, and staying power in the ever-evolving hospitality sector.

In just two years, AI agents – autonomous systems that can work independently – have evolved from experimental tools into mainstream solutions, completing tasks from start to finish and collaborating with other agents.

The State of AI Venture Capital in 2025: AI Boom slows with fewer Startups but bigger Bets

In a year defined by AI breakthroughs, colossal layoffs, and serious cost-cutting across industries, sales, market cap, and headcount are no longer the epitome of power and success.

People’s Leasing and Finance: FY25 Marks Strong Asset Expansion amidst Steady Profitability

Sri Lanka's Road to Recovery: Debt and Governance

In March 2023, Sri Lanka entered into a 48-month Extended Fund Facility (EFF) Arrangement with the International Monetary Fund (IMF) to support the country's economic policies and reform agenda. The program seeks to restore and maintain macroeconomic stability and debt sustainability while safeguarding the poor and vulnerable, rebuilding external buffers, and promoting growth-oriented structural reforms, particularly through strengthened governance.

10+ mins

Dialog Axiata Group invests further in Sri Lanka's Digital Infrastructure

Dialog Axiata, Sri Lanka's connectivity provider and a member of the Dialog Axiata Group—the country’s largest foreign direct investor (FDI) operating under the guidance of the Board of Investment of Sri Lanka (BOI)—announced a USD 100 million investment to further strengthen Sri Lanka's digital infrastructure.

2 mins

Sri Lanka must move beyond Triumphalism and Bitterness

Sixteen years ago, Sri Lanka emerged from one of the bloodiest civil conflicts in modern Asia. The military defeat of the Liberation Tigers of Tamil Eelam (LTTE) ended a nearly three-decade war that cost tens of thousands of lives, displaced entire communities, and left deep scars on the national psyche.

3 mins

The Tech Industry's Workforce Crisis: 90,471 layoffs so far in 2025, projected to reach 236K by the end of the year

Since the beginning of 2025, there have been 90,471 announced layoffs across the global tech industry, as companies continue to double down on downsizing and cost-cutting efforts.

6 mins

A Journey of Passion, Positivity, and Panache

Harpo Gooneratne, Founder and CEO of Harpo's Cafés & Restaurants, is a pioneering force in Colombo’s dynamic restaurant landscape. From his early days as a push-bike DJ with a haversack of records to holding senior positions in five-star hotels, Harpo has learned from the best in the industry. As he marks a significant milestone in 2025, he reflects on a journey of experience, passion, and resilience—qualities that have shaped a portfolio of establishments renowned for their consistency, character, and staying power in the ever-evolving hospitality sector.

10+ mins

Vision Care successfully concludes 'Clear Vision Clear Shores'

Vision Care organized a beach cleanup at Mount Lavinia for World Environment Day under the theme 'Clear Vision Clear Shore.'

1 mins

SLT-MOBITEL champions Innovation and celebrates Next-gen Tech talent at SLIOT 2025

SLT-MOBITEL celebrated innovation and youth empowerment at the SLIOT Challenge 2025, Sri Lanka's top IoT competition, with a Grand Finale and Awards Ceremony at the University of Moratuwa.

1 mins

Al agents go mainstream: Over 80 percent of companies to use them within three years

In just two years, Al agents autonomous systems that can work independently - have evolved from experimental tools into mainstream solutions, completing tasks from start to finish and collaborating with other agents. Last year, even major enterprises like OpenAl, GoogleDeepMind, Microsoft, and PwC began integrating them into their operation, proving them as one of the top Al trends. Moreover, this is just the beginning of Al agents' growth, with market projections showing a surging adoption in the years ahead.

2 mins

BOC and Mastercard launch 'BizPlus' Credit Card

Bank of Ceylon partnered with Mastercard to launch the BizPlus Credit Card, a tailored financial product designed to meet the needs of Micro, Small, and Medium Enterprises MSMEs.

1 mins

Pan Asia Bank launches Digitally Linked Sustainability Campaign

In a groundbreaking digital sustainability initiative, Pan Asia Bank has launched a month-long campaign that transforms online action into real-world environmental impact.

1 mins

The State of Al Venture Capital in 2025: Al Boom slows with fewer Startups but bigger Bets

Venture capital funding in artificial intelligence has surged over the past decade, transforming the landscape of startup investing.

7 mins

People's Leasing and Finance and Micro Cars partner to offer Bus Leasing Facilities

People's Leasing and Finance, and Micro Cars, has signed a Memorandum of Understanding (MOU) aimed at providing convenient and accessible leasing facilities for customers interested in acquiring Micro buses.

1 mins

People's Bank sponsored Mihintale State Poson Festival

People's Bank reaffirmed its commitment to preserving Sri Lanka's religious and cultural heritage by sponsoring the State Poson Festival held at Mihintale.

1 mins

Pan Asia Bank sets the Benchmark in Leadership Excellence at the Great Manager Awards 2024

Pan Asia Bank has once again been recognized as a leader in excellence, receiving an honor at the Great Manager Awards 2024, organized by the Colombo Leadership Academy.

1 mins

Xapp redefines savings with 7.50 percent Returns and Total Liquidity

With traditional savings accounts struggling to outpace inflation, more savvy investors are opting for Xapp, a next-gen investment platform by National Development Bank (NDB) offering a 7.5 percent annual return as of May 19, 2025. A key advantage of Xapp is its full liquidity flexibility.

1 mins

The world’s most successful companies by profit per employee

In a year defined by Al breakthroughs, colossal layoffs, and serious cost-cutting across industries, sales, market cap, and headcount are no longer the epitome of power and success. Since Al and automation have increasingly replaced traditional roles, companies are now able to achieve notable profits with fewer employees, transforming the rules of operational efficiency.

7 mins

People's Bank honored for Data Excellence

People's Bank has reinforced its industry leadership by receiving top honors at the CRIB CEO's Forum and Institutional Rating Awards Ceremony 2025.

1 mins

SLT-MOBITEL and Department of Pensions renew partnership

SLT-MOBITEL and the Department of Pensions (DoP) extended their longstanding strategic partnership, strengthening the shared commitment to enhancing digital inclusion for Sri Lanka's state sector pensioners.

1 mins

People's Leasing and Finance partners with Crown Auto

People's Leasing and Finance has signed a strategic of UnderMemorandum standing (MOU) with Crown Auto. This partnership aims to offer special benefits, privileges, and services to PLC debit cardholders and customers.

1 mins

Bank of Ceylon named Islamic Retail Bank of the Year - Asia

The Bank of Ceylon (BOC) has been honored with the title of \"Islamic Retail Bank of the Year Asia\" by The Banker, a publication of the Financial Times, during its 2025 Islamic Banking Awards.

1 mins

Smartphones power 64 percent of global web traffic, marking a new all-time high

Mobile web traffic has steadily increased since mid-2033, driven by faster mobile networks anda generation glued to their phones for everything, from news to shopping and entertainment. With websites becoming more mobile-optimized, the shift from desktops has become an ongoing digital trend, driving mobile’s share in web traffic to record highs.

2 mins

People's Leasing partners with Senok

People’s Leasing and Finance has signed an MOU with Senok Commercial Vehicles to offer special leasing facilities for Eicher commercial vehicles.

1 mins

People's Bank partners with MasterCard to introduce Tailored Digital Payment Solutions

People's Bank has partnered with MasterCard to launch innovative digital payment solutions aimed at enhancing transaction convenience and promoting digital adoption among various customer segments, including online enterprises, SMEs, and youth account holders.

1 mins

SLT-MOBITEL's First Quarter surge reinforces its role as a Pillar of Progress

SLT-MOBITEL has achieved a remarkable financial turnaround in Q1 2025, reporting a Group Profit After Tax (PAT) of 2,001 million rupees, up from 156 million rupees in Q1 2024.

2 mins

People's Leasing and Finance: FY25 Marks Strong Asset Expansion amidst Steady Profitability

People’s Leasing and Finance has achieved impressive results for the financial year ending March 31, 2025. The company reported a substantial year-on-year growth of 51.56 percent in its Loans and Receivables portfolio, marking a significant milestone driven by a focused transformation in employee mindset and performance culture.

2 mins

Read all Stories from Business Today Sri Lanka

Business Today Sri Lanka Magazine Description:

Publisher: BT-Options

Category: Business

Language: English

Frequency: Monthly

The magazine of the corporate world, Business Today features an interesting line-up of interviews with eminent personalities who impact the corporate, commercial and economic sectors. The monthly magazine also includes exclusive articles syndicated from the Harvard Business Review and Financial Times. It has also featured the monthly columns by Richard Branson and Howard Schultz. International interviews featured include Sir Richard Branson, Paul Allen, Howard Schultz, Omar Bin Laden and Sir Jonathan Ive. Articles penned by President Barack Obama and Vice President Joe Biden Jr. have also been featured in the magazine.