Product & Service Launches / Business Expansions
View all(86)🚀 WIIN Institute of Technology Launches in Sri Lanka
The Wireless Intelligence and Innovation (WIIN) Institute of Technology was officially launched at TRACE Expert City, marking a key milestone in Sri Lanka's digital and industrial transformation. • Strategic Focus: Built on a "globally impactful, locally driven" framework, WIIN aims to strengthen the local technology ecosystem and support economic development through dedicated research and engineering. • Core Sectors: WIIN will deliver innovative technological solutions across 5 key economic sectors: telecommunications, energy, construction, financial technology (FinTech), and healthcare. • Capacity Building: The institute will offer industry-focused training programs in cutting-edge disciplines, including Artificial Intelligence (AI) and Machine Learning (ML), to upskill local professionals. • Global Collaborations: Established key partnerships with globally renowned institutions, including the 6G Flagship Programme of the University of Oulu (Finland), the Indian Institute of Technology Madras (IIT Madras), and IITM Pravartak, alongside local Sri Lankan university engineering faculties.
📈 LANKATILES Launches Sri Lanka’s First Solar Reflective 'Cool Rooftop Tile'
• Product Launch: LANKATILES has introduced COOL ROOFTOP TILE®, the country’s first solar reflective rooftop tile engineered to combat indoor thermal retention amidst climbing temperatures. • The Technology: The tiles feature an advanced technology boasting a certified Solar Reflectance Index (SRI) of greater than 96, which actively reflects the majority of the sun’s infrared and ultraviolet rays back into the atmosphere before heat penetrates concrete slabs. • Key Benefits: • Cooler Spaces: Regulates baseline indoor temperatures by reducing heat transfer. • Energy Efficiency: Mitigates the reliance on air conditioning, lowering electricity utility bills. • Space Optimization: Keeps open-to-sky terraces and balconies comfortable underfoot during peak daylight hours. • Economic & Green Context: The innovation supports sustainable building practices by offering passive thermal defense, aligning with green building certifications demanding higher energy performance ratings, and helping reduce the urban heat island effect.
📲 DMS-IMAGO Implemented at HSBC Sri Lanka
Fintech Milestone: DMS Software Engineering Ltd. has successfully implemented its flagship DMS-IMAGO platform at HSBC Sri Lanka, reinforcing the local ICT/BPM sector's capability in delivering scalable, global-grade banking technology. Digital Transformation: DMS-IMAGO functions as a comprehensive Cheque Image Clearing Solution, digitising cheques at source and transforming paper-based workflows into secure, image-driven digital processes. Key Capabilities: • Supports both LKR and USD clearing operations in centralised, decentralised, or hybrid environments. • Features end-to-end functionality for inward/outward clearing, returns, postdated cheques, and transfer cheque management. • Fully integrates with Core Banking Systems (CBS) and aligns with LankaClear T+1 compliance guidelines. Efficiency & Security: The system deploys automated validations, duplicate detection, and maker-checker controls to reduce operational risk, improve accuracy, and accelerate processing turnaround times. Proven Track Record: First introduced in 2005, the platform is active across multiple banks in Sri Lanka and Bangladesh.
📈 India’s NASSCOM Launches Disha Mentorship Program in Sri Lanka to Boost Tech SMEs
India’s apex technology body, NASSCOM, has officially launched its flagship Disha Mentorship Program in Sri Lanka. This marks the initiative's first international expansion outside India, aiming to scale technology small and medium enterprises (SMEs) through cross-border partnerships. • Overall Impact: The initiative will provide structured guidance and sustained strategic mentorship to an inaugural cohort of 48 Sri Lankan technology SMEs to help them overcome business challenges and enter new markets. • National Context & Objectives: According to the Digital Economy Ministry, the program comes as Sri Lanka transitions from economic stabilization to growth. It is designed to drive digital transformation, accelerate export earnings, and generate high-value employment by addressing gaps in commercial strategy, leadership, and international market access. • Bilateral Cooperation: The partnership strengthens India–Sri Lanka technology ties, complementing existing digital infrastructure initiatives like the Sri Lanka Unique Digital Identity (SLUDI) project and future collaborations in Artificial Intelligence (AI). • Key Stakeholders: The program is supported by the Indian High Commission, the Government of Sri Lanka, and local ecosystem partners including SLASSCOM, Hatch, TRACE Expert City, and The Ceylon Chamber of Commerce.
🏨 Citrus Leisure Partners with RateGain to Boost Direct Bookings across Sri Lanka
Sri Lankan hospitality group Citrus Leisure PLC has announced a strategic partnership with RateGain Travel Technologies to deploy the "UNO Direct Stack" platform. This initiative represents one of the most comprehensive direct revenue technology consolidations undertaken by a Sri Lankan hospitality group to reduce dependency on third-party channels. • Tech Consolidation: The partnership integrates guest acquisition, digital marketing, booking conversion, distribution, and pricing intelligence into a single AI-powered SaaS growth platform. • Portfolio Impact: The technology deployment covers Citrus Leisure's diverse portfolio catering to both leisure and business travelers, including Citrus Hikkaduwa, Citrus Waskaduwa, and The Steuart by Citrus in Colombo. • Economic Context: The move highlights a growing trend in Sri Lanka’s tourism and hospitality sector, where regional hotel groups are heavily investing in direct booking strategies to improve profit margins, streamline operational complexity, and build stronger guest relationships amid evolving traveler expectations.
📈 NCE and EY Renew Strategic Partnership to Boost Sri Lanka's Export Readiness
The National Chamber of Exporters of Sri Lanka (NCE) has renewed its strategic partnership with Ernst & Young (EY) via a Memorandum of Understanding (MoU) to enhance the global competitiveness and regulatory compliance of local exporters. • National Context & Ambition: The collaboration aligns with Sri Lanka's National Export Development Plan (NEDP) 2026–2030, which targets US$ 36 Bn in total annual export earnings by 2030 (comprising US$ 28 Bn in merchandise exports and over US$ 8 Bn in services exports). • Market & Sector Breakdown: United States: Remains Sri Lanka’s largest single export market, bringing in US$ 3 Bn annually, driven heavily by the apparel & textiles sector. Exporters face stricter US regulations on supply chain traceability and forced labor prevention. European Union: A critical destination for apparel, fisheries, and food products. Exporters must adapt to tightening EU mandates on ESG (Environmental, Social, and Governance) standards, carbon reporting, and ethical sourcing. • Strategic Focus Areas: EY will provide expertise to safeguard premium market shares by helping businesses build robust compliance frameworks. Key focus areas include supply chain transparency, international tax implications, transfer pricing, cybersecurity, digital transformation, and learning from how other exporting nations navigate shifting US tariff measures. NCE and EY will deploy joint seminars, workshops, and executive briefings to practically upskill the export community.
✈️ CAASL and Vietjet Air Hold High-Level Talks Ahead of Sri Lanka Launch
Vietjet Air's Upcoming Launch: High-level discussions were held between Vietjet Air executives and Civil Aviation Authority of Sri Lanka (CAASL) officials to prepare for the airline's entry into the Sri Lankan market. Strengthening Connectivity: The discussions focused on operational preparations and strengthening aviation and tourism connectivity between Sri Lanka and Vietnam. Key Representatives: Meeting participants included CAASL Director General Capt. Daminda Rambukwella, Vietjet Air VP Commercial Ta Huu Thanh, International Sales Director Nguyen Chi Duc, and representatives from Andrew The Aviation Company.
LOLC Holdings Strengthens Strategic Ties with National Bank of Rwanda 📈
Sri Lankan conglomerate LOLC Holdings PLC has concluded high-level strategic talks with the National Bank of Rwanda (BNR) to deepen its footprint in Rwanda's financial sector and support long-term economic development. • Strategic Engagement: The meeting was led by LOLC Group Chairman Ishara Nanayakkara alongside senior central bank officials, including BNR's Executive Director for Financial Stability, Bernard Nsengiyumva. • Core Focus Areas: Discussions centered on the growth plans of LOLC Unguka Finance PLC, emphasizing micro, small, and medium enterprise (MSME) development, entrepreneurship promotion, and the expansion of green finance initiatives. • Regulatory Alignment: The collaboration aims to foster a resilient and innovative financial ecosystem, aligning LOLC's expansion strategy with Rwanda's national financial stability and financial inclusion objectives. • Economic Impact: Based on company statements, the partnership focuses on delivering sustainable, responsible financial services to create lasting value for local businesses and communities while expanding LOLC's broader African presence.
Emirates Hits 100-Aircraft Retrofit Milestone in US$ 5 Bn Cabin Upgrade 📈
Project Milestone: Emirates has completed the nose-to-tail refurbishment of its 100th aircraft (47 Airbus A380s and 53 Boeing 777s) within 44 months under its massive US$ 5 billion investment program. Scale & Resources: Executed entirely in-house by Emirates Engineering in Dubai, the project has utilized 4.4 million man-hours from over 400 engineers and technicians, averaging 28 aircraft retrofitted per year. Product Upgrades: Every retrofitted aircraft was equipped with a new Premium Economy Cabin, totaling over 3,800 new seats. The airline has expanded the program's scope from an initial 105 aircraft to 219. Future Pipeline: Over half of the 219 slated aircraft will be completed by December 2026. The next phase, starting October 2026, will introduce 4K OLED HDR10+ display screens and lightweight Safran Z400 seats. Sustainability & Upcycling: Thousands of kilograms of removed leather and fabrics are being repurposed into limited-edition luggage under the ‘Aircrafted by Emirates’ range, alongside donating over 4,000 repurposed backpacks.
📈 LOLC Group Strengthens Pakistan Footprint with New Islamabad Head Office
Sri Lankan multinational conglomerate LOLC Holdings PLC has strategically relocated the Head Office of its fully owned subsidiary, LOLC Microfinance Bank Pakistan, to Gulberg Greens, Islamabad, marking a key milestone in its largest overseas Asian operation. Key Highlights & Scale of Operations • Network & Workforce: Operates a robust network of 88 branches employing over 1,200 staff members across key cities including Karachi, Lahore, Islamabad, and Peshawar. • Financial Portfolio: Manages a loan portfolio exceeding US$ 70 Mn and a deposit portfolio surpassing US$ 90 Mn (comprising savings, term, and current accounts). • Market Recognition: Recognized as Pakistan's fastest-growing microfinance bank in 2026, driven by strong business momentum. Strategic Impact & National Context • Services: Offers comprehensive financial solutions including business loans, microfinance, vehicle financing, and gold loans. • Economic Empowerment: Aligned with LOLC’s global model spanning 27 countries, the expansion focuses on driving financial inclusion, supporting SMEs, and empowering underserved micro-enterprises to foster sustainable economic growth and poverty alleviation.
🚗 Toyota Lanka Breaks Ground for Flagship Showroom in Colombo
Toyota Lanka has officially commenced the construction of its new flagship showroom in Bambalapitiya, Colombo, marking a significant milestone in expanding its local retail and service footprint. • Key Development: The groundbreaking ceremony was attended by top leadership, including Toyota Sri Lanka Chairman Masaaki Kawabata and Managing Director/CEO Manohara Athukorala. The project is described as a long-term strategic move to enhance customer experience and deliver world-class service standards in the country. • Design & Architecture: The facility is being designed by Design Consortium International, led by Archt. Migara Alwis. The architectural firm has a long-standing 25-year corporate relationship with Toyota Lanka. • Features: The upcoming flagship showroom will focus on contemporary, innovative architecture and functionality. It is set to feature interactive vehicle displays, immersive customer experiences, and dedicated facilities for test drives. • Economic Context: This expansion reflects continued corporate investment in Sri Lanka's automotive retail sector and infrastructure, contributing to the ongoing modernization of Colombo's urban landscape.
Yamaha Launches Flagship Concept Showroom in Borella 🏍️
Associated Motorways (Private) Limited (AMW), the official distributor for Yamaha, has unveiled Yamaha’s flagship Concept Showroom in Borella, marking the brand’s 45-year presence in Sri Lanka. • The Development: Yamaha’s long-standing Borella location has been transformed into a modern, integrated retail destination designed around international standards to provide an elevated, immersive customer experience. • Product Range: The showroom brings Yamaha’s entire local portfolio under one roof, including performance motorcycles (such as the FZ, R15, and MT-15), practical scooters (RayZR), Outboard Motors (OBM), water vehicles, genuine spare parts, official merchandise, and accessories. • Key Dignitaries: The opening ceremony was attended by high-profile local and international guests, including Naoaki Kamoshida (Chargé d’Affaires ad interim of Japan to Sri Lanka), Hajime Aota (Chairman, Yamaha Motor India Group), senior leadership from AMW's parent group Al Futtaim, and Sri Lankan motorsport icon Dilantha Malagamuwa. • Strategic Impact: The investment represents a major upgrade in automotive retail and customer experience in Sri Lanka, combining sales, expert guidance, and after-sales support in a single concept space.