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Retail Information Technologies (RIT), a subsidiary of Sumathi Holdings, recently hosted the high-profile ‘Retail Industry Technology Trends 2025 – Kandy Edition’, bringing together Sri Lanka’s retail and technology leaders.

At the event, RIT unveiled its advanced software portfolio, specifically designed to equip the nation’s retail sector with future-ready solutions.

RIT showcased an advanced suite of retail technologies, including AI-powered facial recognition, smart shelf systems, cloud-based point-of-sale (POS), and mobile-ready solutions. The event also introduced AdlER by Anvin Infosystems alongside hardware and accessories from global technology leaders such as Posiflex, Sam4s, Zonerich, Zebra, and Anviz, designed to support retailers in navigating and thriving within a rapidly evolving digital economy. Live demonstrations and interactive experiences gave attendees first-hand exposure to these innovations, reinforcing RIT’s vision as a leading technology partner for Sri Lanka’s retail sector.

Retail IT Head of Business Development Savio Fonseka said: ‘RIT has been working consistently to create value for businesses of all sizes and drive growth that benefits the Sri Lankan economy. To support this mission, we introduced RIT Trends, which has become a platform for Sri Lanka’s retail and technology leaders to unite, exchange insights, and accelerate the digital transformation of the retail sector. Through our innovative retail systems and global partnerships, we aim to further empower retailers to confidently strive for growth while positioning Sri Lanka as a future-ready retail hub.’

Anvin Infosystems Business Development Manager Shammel Sheriff said: ‘In recognising the unique challenges faced by businesses, we developed the AdlER ERP Business Suite. It supports not only retail but also hospitality, manufacturing, and distribution industries, with specialised modules for finance, inventory, human capital management, and mobility. The suite is designed to empower businesses to navigate operational complexities and achieve sustained excellence.’

RIT Category-in-Charge – Devices Dinesha Wijesiri, demonstrated Smart Electronic Labels (SELs), emphasising how retailers can instantly update pricing, product details, and promotions across outlets through the POS system.

Today, Sri Lanka has just three listed companies valued at over a billion dollars: John Keells Holdings (JKH), Commercial Bank of Ceylon, and Ceylon Tobacco PLC. This is a sobering statistic for an economy with ambitions of becoming a South Asian hub for trade, services, and investment. A country of 22 million people, strategically positioned astride major maritime routes, and possessing a strong pool of talent in accounting, IT, and law, should be capable of nurturing multiple billion-dollar firms across diverse sectors. The fact that it has not points to deeper structural barriers inhibiting corporate growth.

Compounding this issue is a corporate culture that often favours organic growth. While inorganic growth through acquisitions can deliver faster results, the perceived complexities and pains of integration make many companies hesitant to pursue it, ultimately limiting their scale and competitive edge. Interestingly Singapore has 77 companies, Vietnam 44 companies and Bangladesh 7 companies valued over $ 1 billion.

The challenge of scale

The domestic market is simply too small. Many Sri Lankan companies remain overly dependent on local demand and rarely push aggressively into regional or global markets. Revenue ceilings are quickly reached, forcing firms to stay medium-sized. By contrast, Indian and Bangladeshi firms have leveraged large internal markets and Singaporean businesses have built global positions in supply chains. Too often, our companies take a conservative approach, avoid risk taking, preferring to dominate the local market rather than compete regionally or internationally.

Access to competitive Dollar lines

Sri Lanka’s capital markets unfortunately lack depth and liquidity. Raising funds for large-scale expansion is difficult, while venture capital and private equity are underdeveloped. Entrepreneurs with scalable business models often stagnate because growth capital is scarce. At the same time, regulatory hurdles and high taxation discourage listing and expansion, leaving companies trapped in incremental growth cycles.

Policy inconsistency

Frequent shifts in taxation, import rules, exchange rate policies, and investment approvals undermine business confidence. Companies are forced into short-term firefighting instead of long-term planning. Building billion-dollar enterprises requires stability, risk capital and predictability-both of which remain elusive in Sri Lanka’s policy environment.

Innovation deficit and brain drain

Few of Sri Lanka’s leading corporates are genuinely innovation driven. The ecosystem for research, startups, and technology remains shallow, leaving the country outside the high-growth sectors that have created billion-dollar companies elsewhere-digital services, renewable energy, and fintech. Meanwhile, a brain drain also deprives local firms in certain sectors of talent. Ambitious professionals migrate to more dynamic economies, while many management practices at home remain risk-averse, preferring safe, incremental growth to bold, disruptive strategies.

Sectors with billion-dollar potential

Despite these barriers, Sri Lanka does have fertile ground for the next wave of corporate champions:

n IT and knowledge services – tapping into the global outsourcing boom, as India once did.

n Tourism and hospitality brands – scaling beyond boutique operators to world-class brands.

n Renewable energy exports – solar, wind, and hydro can create green giants with the right policy backing.

n Logistics and maritime services – leveraging Colombo’s location and Port City to become a regional hub.

n Agri-tech and food exports – blending tradition with technology to dominate niche global markets.

n Financial services and fintech – capitalising on digital adoption to reach regional scale.

The way forward

For Sri Lanka to nurture its next billion-dollar enterprises, a deliberate and multi-faceted strategy is essential. The foundation must be built on stabilising macroeconomic policy to ensure predictability, coupled with the gradual liberalisation and deepening of capital markets to provide the necessary fuel for growth. Simultaneously, the country must actively invest in R and D and technology while fostering stronger collaboration between government, universities, and the private sector to create dynamic innovation clusters. To complement this, a focus on nurturing young talent and implementing competitive tax structures is critical to retaining the best and brightest.

Furthermore, firms must be strategically encouraged to internationalise through targeted incentives, investor-friendly reforms, and proactive trade agreements. Sri Lanka cannot afford to be content with two or three billion-dollar companies. The ambition must be to deliberately create the conditions for a new generation of corporate giants-firms that not only dominate domestically but also become global ambassadors for the Sri Lankan brand, as a few pioneering companies have already demonstrated. Breaking through the current barriers to scale will require nothing less than visionary mature political leadership and a new wave of bold, risk-taking innovators in the corporate sector. The path forward demands ambition, resilience, and a relentless focus on human capital.

Dijital Team recently marked a new milestone with the opening of its second office in Sri Lanka, located in Kandy.

Situated within the Odel Mall, Kandy, the new office’s launch coincides with tremendous growth in the business. This latest location is an opportunity to support Dijital Team’s ongoing business growth and create job opportunities for tech and IT professionals while advancing regional economic growth.

In establishing a new office in Kandy, Dijital Team aims to increase employment opportunities for IT professionals in the Central Province. Additionally, through its newest branch, Dijital Team offers team members the opportunity to work without leaving their hometown. The recent expansion of the group’s operations also renewed the group’s long-term commitment to upscaling Sri Lanka’s technology sector.

Dijital Team Managing Director Peter Ward said: ‘It is our vision to create the best workplace in Sri Lanka, and our team members are our highest priority. Which is why it made sense to open an office in Kandy to support our remote-first workplace. We see the Kandy office as an opportunity to create a flexible working environment for those team members that prefer a hybrid workplace and to attract new IT talent and bring tech jobs closer to the Central Province through being part of the local community.’

General Manager Suran Fonseka said: ‘Our goal has always been to unlock the potential of all stakeholders in our business. Not only for global IT businesses, but also for skilled talent within the local industry too. Which is why our presence in Kandy means a great deal. We aim to be more than an employer in the region. Instead, we seek to be an economic and community partner in Kandy’s progress. The opening of this new office allows us to actively deepen regional IT talent development and economic wellbeing. Not just within the commercial capital, but across the island.’

Dijital Team has demonstrated its ability and skill as a talent solutions provider for global IT businesses seeking skilled experts. The company’s innovative approach to offshoring focuses on ensuring team members exercise a healthy work-life balance, which in turn leads to superior efficiency and amplified customer

satisfaction.

AI is reshaping business at a furious pace. But with the rush to deploy agents across every platform and vendor, companies are facing a new kind of digital disorder: agent sprawl. The very tools designed to deliver efficiency are now spawning duplication, compliance gaps, and security blind spots.

Salesforce’s answer is MuleSoft Agent Fabric, a platform it calls the backbone of the Agentic Enterprise. Think of it as an air traffic controller for a company’s AI workforce: a single hub to register, orchestrate, govern, and monitor every agent, no matter where it was built.

The stakes are high. Analyst forecasts show a 327% surge in agent adoption within two years, with nearly half of enterprise applications embedding agents by next year. Without coordination, these agents risk becoming a fragmented mess, valuable in isolation but blind to the broader enterprise.

Salesforce, MuleSoft SVP and GM Andrew Comstock said, ‘The reality is, most enterprises live in a multi-vendor world, and that won’t change with AI. Just as companies rely on countless applications across different ecosystems, they’ll soon have AI agents from every SaaS provider and every major LLM. The strategic challenge isn’t building a single agent, but enabling all of them to work together. MuleSoft Agent Fabric gives every organisation the ability to govern and orchestrate all their agents in a cohesive and trusted way.’

Customers like Barco, r.Potential, Rush University System for Health, and Wynn and Encore Las Vegas are already adopting the platform to bring order to their sprawling agent ecosystems. For them, the appeal isn’t just coordination – it’s compliance and control.

MuleSoft Agent Fabric rolls out with four core pillars: Registry: a catalog making agents discoverable and reusable; Broker: an intelligent router, powered by large language models, for cross-domain task execution; Governance: guardrails for security and regulatory compliance at every interaction and Visualiser: a live map of agent activity to trace decisions and performance.

This is more than Salesforce extending its Agentforce suite. It’s a bid to own the connective tissue of the AI economy. And with its track record in linking data, APIs, and processes, MuleSoft is betting it can do the same for AI agents.

Cinnamon Hotels and Resorts Colombo Area Vice President and Cinnamon Grand Colombo, Sri Lanka General Manager Kamal Munasinghe, ended his tenure, to take up duties as Chief Operating Officer, Cinnamon Hotels and Resorts, where he will head operations across the brand’s 17 resorts and hotels in Sri Lanka and the Maldives. His focus will be on transforming Cinnamon Hotels and Resorts into a brand defined by precision in operations, authenticity in service, and innovation in guest journeys.

During his time at the Cinnamon Grand, a period of four and a half years, Munasinghe literally not just transformed the Hotel into a bustling, lively and above all friendly and warm venue, he imbued his inborn talent for PR and geniality, across the board to both staff and guests. Activities, events, a sense of wellbeing, all combined to make the Cinnamon Grand the ‘Go To’ venue be it business or pleasure. A seasoned hotelier and industry leader, Munasinghe who returned to Sri Lanka, post his role as General Manager of Alila Bangsar Kuala Lumpur, a Hyatt Hotels Corporation property, has indeed stamped his mark indelibly at the Cinnamon Grand.

His career spans across Switzerland, Malaysia, Vietnam, and Sri Lanka, and he is a hospitality graduate of Schiller International University, Switzerland.

Munasinghe’s vision is to showcase the essence of Sri Lankan hospitality, cuisine and culture to the world, via the Cinnamon brand, establishing John Keels as the country’s premier hospitality conglomerate.

His most outstanding feature which has, and always will stand him in good stead and enable him to stand out from the crowd, is his humanity and his willingness to listen to others, to adapt, and handle and act on criticism. Qualities which are scare in today’s fast paced and competitive environment. His PR is legendary and will be a hard act to follow, especially due to the fact that in Munasinghe’s case it’s inborn and not acquired. His care and concern was not only manifest towards the Hotel’s guests but to the staff as well, as was evidenced by the bustle and activity and sheer willingness of staff across the board to maintain the high standards set by him. A level of performance that can only be achieved when the Head of the organisation focuses on both guests as well as staff.

He successfully enhanced Sri Lanka’s Premier Hospitality Brands Cinnamon Grand Colombo, Cinnamon Lakeside Colombo, and Cinnamon Red Colombo, offering diverse dining, hospitality, and entertainment experiences. Munasinghe indeed walked his talk, ‘Luxury is all about personalisation.’

Munasinghe believes Sri Lanka has the potential to become the world’s most sustainable and sought after tourism destination, emphasising wellness, well-being, and mindfulness. A prominent figure in the hospitality sector, he has received notable accolades for his exceptional leadership and contributions which include Hospitality Sector Business Leader of the Year 2022 – Awarded by the CEO Magazine Awards. This recognition highlights his excellence in business strategy and leadership within the hospitality industry, while his recognition as the Best General Manager for Southwest Asia 2023 – at the World Luxury Awards, reflects his outstanding performance and management skills in one of the most competitive regions for luxury hospitality.

During his tenure, the Cinnamon Grand won many accolades including, Best 5-Star Hotel in Colombo City, Best Authentic Sri Lankan Cuisine awarded to the Nuga Gama restaurant at the Sri Lanka Tourism Development Authority awards 2024, while at the Culinary Art Food Expo (CAFE) 2023, the Hotel was awarded the Most Outstanding Overall Hotel Championship Trophy, the Most Outstanding Overall Hotel Culinary Team, as well as being recognised as the Most Outstanding Colombo City Hotel Culinary Team. In 2025, at the Culinary Art Food Expo (CAFE) 2025, Cinnamon Lakeside was awarded Best Culinary Team overall winner.

Empathy, inborn PR and consummate professionalism, combine to make Munasinghe, ‘Simply the Best.’

At Taj Samudra, Colombo the celebration is steeped in tradition, joy, and culinary artistry-where every sweet becomes a symbol of love, light, and togetherness.

From 1 October, the hotel’s master chefs unveil a specially curated collection of authentic Diwali sweets, blending age-old recipes with timeless elegance. Guests are invited to indulge in a selection that captures the very essence of the season-from the golden crunch of laddoos to the soft, fragrant melt of barfis and the intricate richness of handcrafted mithai. Beautifully presented, the sweets are made for thoughtful gifts, festive table centrepieces, or personal indulgences during the Diwali season. Every bite of our handcrafted sweets is designed to bring people closer and to capture the warmth and richness of the celebration.

Whether shared with family, gifted to friends, or enjoyed in peaceful solitude, these traditional delights are bound to light up any moment.

The 9th South Asian Travel Awards (SATA) 2025 saw W15 Collection being awarded in the Leading Boutique Hotel category with the submission of their signature property, W15 Hanthana Estate.

This award recognises W15 Hanthana Estate and the W15 Collection as one of the best in South Asia and reaffirms its position as an iconic, award-winning group of hotels and a favourite choice for travellers seeking a luxurious, intimate, and exclusive getaway.

W15 Collection Founder and Visionary Hardy Jamaldeen said, Boutique Collection at the South Asian Travel Awards 2025 is an incredible honour. This recognition belongs first to our remarkable team whose passion and dedication bring the vision of W15 to life every single day and to our valued patrons whose trust and love inspire us to keep raising the bar. At W15, we believe that small and unique can be truly special and that sustainable tourism is the way forward for our communities and our planet. I’m grateful to my team and our valued patrons for being a part of this journey.’

W15 Collection, a group of six boutique hotels, dotted across some of the most picturesque locations of Sri Lanka, was born with the launch of W15 Weligama in 2015, creating the distinctive name of the collection. With the tagline ‘moments to memories’ every W15 Collection property promises its visitor a stay like no other, an experience that surpasses expectations.

The pristine white beaches of Weligama and Ahangama can be enjoyed whilst being pampered at W15 Weligama and W15 Escape. If heeding the call of mountains is your pleasure, W15 LakeGregory and W15 Glenfall in Nuwara Eliya, and W15 Ambulwawa in Gampola will cocoon you in warmth and luxury while the gem of the collection, W15 Hanthana Estate, will take one’s breath away with every single aspect of the wondrous stay.

W15 Hanthana Estate, an elegant colonial bungalow surrounded by manicured sprawling lawns and offering views of the verdant Hanthana hills, offers its patrons the most sublime escapes on an all-inclusive basis with luxuriously appointed suits, exquisitely crafted and scrumptious cuisine and the renowned W15 hospitality with a personal butler at hand. As the stay promises an elevated experience above and beyond luxury, service and excellent cuisine, Hanthana Estate can be permanently etched into memory through scenic trekking on the iconic Pekoe trail, mountain biking, wildlife excursions and picnics on a nearby outcrop of rock with a vivid backdrop of a stunning sunset.

This October, Cinnamon Grand Colombo brings the spirit of Scandinavia to the city as part of the grand 50th anniversary celebration of its signature London Grill. Leading the experience is Chef Carola Magnusson, renowned Swedish chef and Founder and CEO of Carolas Eko, who has curated an authentic Swedish menu along with the beloved tradition of freshly baked cinnamon buns.

Well known in Sweden for her commitment to wholesome, sustainable cooking and her flair for combining tradition with innovation, Chef Carola brings her philosophy to Colombo in two exciting culinary experiences.

From 2-5 October at London Grill, she will present a refined à la carte menu featuring dishes that reflect the soul of Swedish cuisine. Among the highlights are the classic Swedish Skagen on sourdough crostini, her refreshing Jerusalem Artichoke Soup, the comforting Moose Meatballs with lingonberries and

potato-celeriac purée, and the delicately balanced Salt Cured Seabass Fillet with white wine sauce and trout roe. Each dish is a tribute to the purity and elegance of Nordic gastronomy.

The celebration continues on 4 October, when Cinnamon Grand’s Tea Lounge marks International Cinnamon Bun Day with a live Swedish Cinnamon Bun action station, personally inspired by Chef Carola’s recipes. Guests can savour warm, cardamom-spiced buns fresh from the oven, alongside the hotel’s indulgent special high tea buffet, a charming nod to Sweden’s sweetest tradition.

Together, these experiences not only highlight Chef Carola’s culinary artistry but also honour the London Grill’s remarkable five-decade legacy as Colombo’s most enduring fine dining destination.

The Sri Lanka Tourism Job Fair and Career Expo concluded at One Galle Face in Colombo, drawing strong participation from students, graduates, and young professionals eager to enter the hospitality and tourism industry.

Now in its third year, the fair connected aspiring youth with leading employers, offering on-site interviews, career guidance sessions, and workshops. With youth unemployment still a challenge in the country, the event provided a practical platform to bridge the gap between education and employment.

Labour Minister Prof. Anil Jayantha said that he was encouraged by the collaboration and opportunities created through the fair. ‘I am happy to be here. When everyone is working towards the same objective, it becomes a success. We saw it here today. Many are not aware as to how to find new job opportunities, and where they are. As the Government, we are working to elevate the sector, and many programs have been launched. But the opportunities are not yet well known among the public. University students and others are often unaware of them. This is a great solution to that issue, and a great event.’

The Job Fair formed part of Sri Lanka’s ambitious program to mark World Tourism Day 2025, celebrated under the United Nations World Tourism Organisation’s (UNWTO) global theme of ‘Tourism and Sustainable Transformation.’ This year’s Expo stands as one of the most wide-ranging series of tourism events the country has seen in recent years, extending from provincial competitions to international level conferences. The initiative is a joint effort by the Tourism Ministry, the Sri Lanka Institute of Tourism and Hotel Management (SLITHM), the Sri Lanka Tourism Development Authority (SLTDA), the Tourist Hotels Association of Sri Lanka (THASL), and the Sri Lanka Association of Inbound Tour Operators (SLAITO). They were joined by the Alumni Association of Tourism Economics and Hospitality Management (AATEHM) and the Sustainable Tourism Unit of the University of Colombo.