Business Today Sri Lanka Magazine - March 2025

In this issue

It was a day like no other at xAI. A team of brilliant engineers, researchers, and visionaries gathered in a sleek, high-tech auditorium, ready to unveil their latest creation—Grok-3. T

In an era of rapid technological change, AI has become the most powerful tool for businesses looking to outpace competition, streamline costs, and drive innovation. It is no longer a futuristic concept—it is a business necessity. Grok-3, a next-generation AI model, is at the forefront of this revolution, offering organizations a strategic advantage in automation, decision-making, and market expansion.

Under President Donald Trump’s administration, USAID came under heavy scrutiny for allegedly interfering in Sri Lanka’s political landscape. Trump publicly criticized the agency, claiming it was “funding chaos” and undermining the sovereignty of nations under the guise of humanitarian aid.

At the Dubai World Government Summit, Elon Musk participated in a thought-provoking discussion with Omar Sultan Al Olama, UAE’s Minister of State for Digital Economy, Artificial Intelligence, and Remote Work. The session, titled “Boring Cities, AI, and Doge”, covered Musk’s insights on government efficiency, artificial intelligence (AI), and the future of transport, including an exciting new partnership with Dubai for a loop-based transport system.

The France AI Action Summit 2025, held at the Grand Palais in Paris, marked a significant moment in the evolving global discourse on artificial intelligence (AI). Co-hosted by French President Emmanuel Macron and Indian Prime Minister Narendra Modi, the summit brought together over 1,500 participants from more than 100 countries, including heads of state, leading tech CEOs, AI experts, and policymakers.

The Industrial Development Board (IDB) is an organization for the promotion and development of the industrial sector. It operates under the Ministry of Industry and Entrepreneurship Development.

The Birth of Grok-3: A Journey into the Future of AI

It was a day like no other at xAI. A team of brilliant engineers, researchers, and visionaries gathered in a sleek, high-tech auditorium, ready to unveil their latest creation—Grok-3. The air buzzed with excitement as the lead engineers and scientists took their places on the stage. A hush fell over the audience.

4 mins

The Birth of Grok-3: How AI is Reshaping Business Strategy

In an era of rapid technological change, Al has become the most powerful tool for businesses looking to outpace competition, streamline costs, and drive innovation. It is no longer a futuristic concept—it is a business necessity. Grok-3, a next-generation AI model, is at the forefront of this revolution, offering organizations a strategic advantage in automation, decision-making, and market expansion.

4 mins

Trump, Musk, and the USAID Controversy: How USAID Allegedly Shaped Sri Lanka's Political Landscape

Under President Donald Trump's administration, USAID came under heavy scrutiny for allegedly interfering in Sri Lanka's political landscape.

2 mins

Pan Asia Bank announces Stellar Performance with a PAT of over 4.1 billion for FY 2024

Pan Asia Banking Corporation delivered a strong financial performance for the year ending December 31, 2024.

2 mins

Elon Musk at the Dubai World Government Summit: A Vision for Government Efficiency, Al, and Future Transportation

At the Dubai World Government Summit, Elon Musk participated in a thought-provoking discussion with Omar Sultan Al Olama, UAE’s Minister of State for Digital Economy, Artificial Intelligence, and Remote Work.

4 mins

France AI Action Summit 2025: A Global Call for AI Innovation and Collaboration

The France Al Action Summit 2025, held at the Grand Palais in Paris, marked a significant moment in the evolving global discourse on artificial intelligence (AI). Co-hosted by French President Emmanuel Macron and Indian Prime Minister Narendra Modi, the summit brought together over 1,500 participants from more than 100 countries, including heads of state, leading tech CEOs, Al experts, and policymakers.

4 mins

BOC forms a Strategic Partnership with the IDB

The Industrial Development Board (IDB) is an organization for the promotion and development of the industrial sector.

3 mins

Twenty-two thousand Bitcoin millionaires lost since Trump's return to the White House

Donald Trump's re-election initially sparked optimism in the cryptocurrency market, creating 11,000 new Bitcoin (BTC) millionaires between October 7 and November 6, 2024. But that euphoria didn't last.

2 mins

OpenAl would be a Global Top 40 company if it went public

OpenAI, the company behind one of the most popular artificial intelligence (AI) platforms, ChatGPT, embarked on a journey of pivoting away from a non-profit focused on AI safety to a for-profit company in the second half of 2024.

3 mins

Escape to Tranquility at Arugambay

Looking for a peaceful retreat away from the crowds? While Arugambay is known for its waves, its true charm shines from October to March.

1 min

eChannelling partnered with Medicare 2025

eChannelling served as the Official Digital Healthcare Partner as well as the Bronze Sponsor for the Medicare 2025 International Healthcare Exhibition, Sri Lanka’s leading healthcare event.

1 min

People's Bank celebrates 77 Years of Independence by offering gifts to Newborns

People's Bank Celebrated Sri Lanka's 77th National Independence Day with a modest ceremony under the patronage of of Prof.Narada Fernando, Chairman of People's Bank, and Clive Fonseka, CEO/GM.

1 min

People's Bank Bihalpola Service Centre moves to an Enhanced new location

People’s Bank Bihalpola Service Centre was ceremoniously opened at a new and enhanced location.

1 min

People's Leasing contributes to Improve the Solid Waste Management at Mirisawetiya Temple premises

People’s Leasing & Finance has demonstrated its ongoing commitment to Corporate Social Responsibility by donating waste segregation units to streamline waste segregation at Mirisawetiya Temple in Anuradhapura.

1 min

BOC launches 'Rewardz Plus' Points-Based Reward Scheme for Credit Cardholders

The Bank of Ceylon (BOC) introduced a points-based rewards scheme, 'Rewardz Plus,' to provide added value to its credit cardholders while enhancing customer engagement and loyalty.

1 min

Google searches for 'ChatGPT' are 20x higher than rival AI tools

Artificial intelligence (AI) is rapidly developing into what appears to be the next major step in the information age, akin to the internet itself and the smartphone.

3 mins

Bank of Ceylon Paves the Way for Drone Technology in Sri Lankan Agriculture

Drones are transforming agriculture in Sri Lanka, supported by the Bank of Ceylon (BOC).

3 mins

Samsung crushes Apple with over 700 million more Smartphones shipped in a decade

No tech rivalry comes close to the battle between Apple and Samsung. The competition between the two giants is unique because Apple builds everything in-house, creating a closed, seamless ecosystem, while Samsung offers a wide range of devices powered by Android. Their intense competition, brand loyalty, and constant innovation set them apart from other tech battles. Yet, regarding long-term sales, Samsung remains the absolute king.

2 mins

Unlock your Dream Vehicle with the People's Auto Loan

Owning your dream vehicle is now within reach with the People's Auto Loan from People's Bank.

1 min

People's Leasing and DIMO partner to support Sri Lankan Agriculture

People's Leasing & Finance has partnered with DIMO to offer a new finance plan for Sri Lanka's agricultural sector.

1 min

SLT-MOBITEL revolutionizes Connectivity with new Fibre Speed-Based Unlimited Data Packages

Aligned to the commitment to deliver unparalleled value, reliability, and seamless connectivity to customers across the nation, SLTMOBITEL presents the latest update as novel Fibre SpeedBased Unlimited Data Packages.

1 min

SLT-MOBITEL as the Official Telecommunication Partner for EDEX Expo 2025

SLT-MOBITEL, Sri Lanka’s national ICT solutions provider, reaffirmed its commitment to educational excellence as EDEX Expo 2025’s Official Telecommunication Partner, cementing a partnership of over ten consecutive years with Sri Lanka’s largest education exhibition and job fair.SLT-MOBITEL provided free Wi-Fi connectivity at both the BMICH in Colombo and the Kandy City Centre during EDEX Expo 2025, ensuring seamless digital access for attendees and enabling exhibitors and stallholders to showcase their education solutions efficiently.

1 min

The Tech Industry's Workforce Crisis: 2024's layoffs surpass 280,000 and continue in 2025

The global tech sector experienced a turbulent year in 2024, with a staggering 280,991 employees losing their jobs as the industry wrestled with economic uncertainty and shifting market demands.

7 mins

Bank of Ceylon as Platinum Sponsor of the 35th Anniversary Convention

Bank of Ceylon partnered as the Platinum Sponsor of the 35th Anniversary Convention of the Association of Professional Bankers (APB) Sri Lanka, showcasing its active role in supporting the country’s banking sector and engaging with professionals shaping the industry’s future.

1 min

People's Leasing & Finance wins at TAGS Awards 2024

People’s Leasing & Finance was honored with the Silver Award at the 59th TAGS Awards 2024, in the Finance Companies, Leasing Companies, and Other Financial Institutions (total group assets above 75 billion rupees) category.

1 min

Vision Care as Eye-Care Partner of Sri Lanka Schools Hockey Association

Vision Care has partnered with the Sri Lanka Schools Hockey Association as the official Eye-Care Partner for the National Junior Hockey Championship 2025.

1 min

NSB as Gold sponsor for the 35th APB Convention

National Savings Bank was the Gold Sponsor for the 35th Annual Convention hosted by the Association of Professional Bankers (APB). In a symbolic gesture of commitment and collaboration, Devika Silva, DGM (Treasury and International Banking), NSB, presented the sponsorship to Halin Hettigoda, Chairman, APB.

1 min

Bank of Ceylon launches Second Phase of 'BOC Youth' Loan Scheme

The Bank of Ceylon (BOC) has launched the second phase of the ‘BOC Youth’ Loan Scheme, an initiative aimed at empowering young Sri Lankan entrepreneurs and supporting their business aspirations.

1 min

Vision Care set to bring Global Eyewear Trends to Colombo Fashion Week Summer 2025

Vision Care is excited to continue its partnership with Colombo Fashion Week (CFW) as the 'Official Eyewear Partner' for the highly anticipated Summer 2025 edition.

1 min

Dialog strengthens Partnership with SriLankan Airlines

Dialog Axiata has enhanced its long-standing partnership with SriLankan Airlines by introducing a new feature that allows FlySmiLes members to convert their miles into Star Points.

1 min

People's Bank opens newly refurbished Hasalaka Branch

People’s Bank opened its newly refurbished Hasalaka Branch.

1 min

Sampath Bank unveils the 'Wewata Jeewayak' Initiative

Sampath Bank presented an impactful new commercial at Scope Cinema, Colombo City Centre, showcasing the inspiring story of resilience and renewal through the powerful ‘Wewata Jeewayak’ initiative.

1 min

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Business Today Sri Lanka Magazine Description:

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.