Elon Musk has made history by becoming the first person ever to achieve a net worth of more than $500 billion (£370.9bn), according to the Forbes billionaires index.

The Tesla boss’s fortune briefly touched $500.1bn on Wednesday afternoon in New York before slipping back to just over $499bn later in the day.

Musk’s wealth surge is attributed not only to the continued rise in Tesla’s valuation but also to the growing worth of his other ventures, including the artificial intelligence start-up xAI and his rocket company SpaceX, which have both seen strong momentum in recent months.

This milestone further cements Musk’s position as the world’s richest person, placing him well ahead of rivals in the global tech sector. His half-trillion-dollar net worth underscores the scale of influence and dominance Musk holds across electric vehicles, space exploration, and artificial intelligence—industries shaping the future of technology and innovation.

Sri Lanka’s newly elected government one year ago set an ambitious target to draw US$5 billion in foreign direct investment (FDI) in 2025. But a growing body of investor testimony, independent reports, and hard data suggest that without deep institutional reforms, this goal may prove aspirational at best.

In early 2025, official data appeared promising: the Board of Investment (BOI) claimed realized FDI of US$203 million in Q1, a rise of 90 percent over the same period in 2024.

By mid-year, BOI further reported US$507 million in foreign inflows in H1, asserting a 101 percent jump year-on-year.

The BOI also approved 57 investment projects totaling US$569 million, of which US$507 million had been realized.

Yet opposition voices and independent critics challenge the narrative. A prominent parliamentary critic claimed that only US$80 million of the government’s Q1 FDI boasts were genuine, accusing the administration of exaggerating inflow figures.

Earlier in 2025, some government sources had claimed Q1 inflows as high as US$650 million a figure later questioned as inflated.

Taken together, these contradictions underscore a deeper issue: headline figures alone cannot mask systemic weaknesses in Sri Lanka’s investment climate.

A major obstacle is the fractured architecture of investment promotion. The BOI was intended as a “one-stop shop,” but its authority is undermined by overlapping ministries and agencies. Investors frequently flag interdepartmental turf wars, sluggish approvals, and policy flip-flops as a deterrent to large-scale commitments.

Under the Economic Transformation Act (ETA) of July 2024, authorities intended to dismantle the BOI in favor of five new agencies (e.g. Economic Commission, Zones SL, and Office for International Trade). But after the NPP government’s victory in late 2024, implementation has stalled and the BOI continues to muddle along amid institutional ambiguity.

Policy mixed signals compound the problem. In January 2025, President Dissanayake pledged to finalize a US$3.7 billion Sinopec oil refinery the country’s largest FDI project to date.

But in February, Adani Green withdrew from a US$400 million wind project, citing government renegotiation efforts.

The government also abruptly shelved broader SOE privatizations, opting instead for “turnaround reforms” that have left private investors uncertain over the future direction of state control.

Even where policies exist on paper, execution is weak. Land acquisition rules remain restrictive: foreigners are generally barred from land ownership, and peace is disrupted by frequent case-by-case exemptions.

Strategic sectors such as banking, coastal shipping, or gem mining impose strict foreign ownership cap ssometimes entirely prohibiting foreign control.

Further complicating the picture, investors say some sectors are treated differently depending on origin: in renewables, for instance, foreign firms benefit from dollar-denominated tariffs, whereas domestic counterparts are paid in rupees.

These preferential rules stoke perceptions of an uneven playing field.Even globally, FDI flows are under pressure. The UN Conference on Trade and Development (UNCTAD) warns of subdued investment across developing markets in 2025.

Sri Lanka, in that context, cannot rely solely on external tailwinds. Domestically, underlying investment trends remain weak. During late 2024, Sri Lanka’s quarterly net FDI inflows hovered around US$138 million—a modest figure against the backdrop of a US$5 billion annual target.

As of September 2024, net flows were only US$45 million, compared to US$384 million in the prior quarter.

Moreover, investment as a share of nominal GDP has slipped—falling to 22.9 percent in Q3 2024, down from 27.7 percent previously. This contraction underscores the broader malaise in capital formation.

Sri Lanka’s aspiration to attract US$5 billion in FDI is bold—but at present, it lacks the structural underpinnings necessary for success. A scattergun approach to policy, weak institutional capacity, opaque regulatory practice, and a reluctance to signal continuity discourage serious investors.

To turn rhetoric into results, Colombo must first deliver consistency: strengthen the BOI (or its successor bodies), digitize approvals, clarify sector-specific rules, and protect investment contracts from reversal. Until then, the government’s FDI target risks being more political posturing than plausible outcome.

Sri Lanka’s current account surplus grew sharply during the first eight months of 2025, reaching $2.04 billion, driven by stronger inflows from worker remittances, tourism, and services, according to the latest data from the Central Bank of Sri Lanka (CBSL). The surplus represents a 26.1% year-on-year (YoY) increase from $1.6 billion in the same period last year, despite a widening trade deficit and rupee depreciation.

The CBSL said that while merchandise trade continued to exert pressure, improved inflows from key service sectors and the diaspora offset the shortfall.

In August 2025, Sri Lanka’s trade deficit narrowed slightly to $414 million from $422 million a year earlier, as exports rose 4% YoY to $1.28 billion, outpacing the 2.6% growth in imports to $1.69 billion. However, over the first eight months, the trade deficit widened 19.6% to $4.26 billion, reflecting a faster increase in imports (10.5%) compared to exports (6.7%).

The CBSL also noted a deterioration in the terms of trade, as import prices rose faster than export prices. The Sri Lankan rupee depreciated 3.3% year-to-date against the US dollar by end-September.

While the services sector dipped 5.4% YoY to $291 million in August, cumulative net inflows in services rose 2.3% to $2.66 billion for January–August 2025.

Tourism continued to show resilience. Arrivals surged 20.4% YoY in August to 198,235, though earnings for the month fell 8.2% to $259 million. Cumulative tourism revenue reached $2.3 billion, up 5.7% from the previous year.

Worker remittances remained a major stabilizing factor, climbing 18% YoY in August to $681 million. Total remittances in the first eight months reached $5.1 billion, marking a robust 19.3% increase from $4.3 billion a year ago.

Foreign investment trends were mixed. Government securities recorded a net inflow of $32.9 million in August, compared to a $30 million outflow last year. However, foreign investment in the Colombo Stock Exchange (CSE) turned negative, with a $15.2 million outflow, reversing the $12.7 million inflow seen a year ago.

During January–August 2025, the CSE saw $69 million in net outflows, while investments in government securities surged 155% to $140.2 million. Debt-related inflows rose 34% to $714 million, though portfolio investments fell 39% to $332.6 million.

Despite ongoing external debt servicing, gross official reserves edged up to $6.2 billion by end-August 2025, including the People’s Bank of China swap facility, reflecting cautious but steady external sector stability.

Sri Lanka is stepping up efforts to position itself as South Asia’s digital gateway, courting Japanese investors to join a landmark initiative a proposed neutral AI Data Centre designed to serve the region.

The announcement came this week in Tokyo, where Chief Presidential Adviser on Digital Economy Dr. Hans Wijayasuriya, addressing a business and investment forum chaired by President Anura Kumara Dissanayake, extended an open invitation for Japanese participation in the project.

Dr. Wijayasuriya described the data centre as a virtual Special Economic Zone (SEZ) that would grant data sovereignty to all participating nations while offering attractive concessions for investors, including energy usage incentives.

He emphasized that the centre forms part of the Government’s broader plan to expand the digital economy fivefold to US$15 billion by 2030, with a goal of tripling digital exports to US$5 billion and growing the digital workforce to 200,000 over the next five years.

According to the proposal, the facility will ensure that countries using the platform retain ownership and control of their data a critical factor in the emerging digital era where information is both an asset and a vulnerability.

 For investors, Sri Lanka promises not just favorable conditions but also a strategic location and policy environment aimed at building a competitive hub for digital services in South Asia.

Analysts note that the initiative could deliver several long-term benefits if executed effectively. A regional centre that guarantees data sovereignty would enhance trust among partner nations and encourage greater cross-border collaboration.

With Japan’s technological expertise and capital, Sri Lanka could attract significant foreign direct investment (FDI), modernize its infrastructure, and create new high-skilled employment opportunities in cloud computing, cybersecurity, and AI-driven services. The project could also strengthen the country’s export profile by enabling local firms to develop digital products and services for international markets.

However, the plan comes with substantial challenges. Data centres are notoriously energy-intensive, and ensuring uninterrupted, low-cost, and sustainable electricity will be essential. Despite government assurances of concessions, energy infrastructure upgrades and reliable power generation remain prerequisites for investor confidence.

In addition, Sri Lanka must deliver world-class digital infrastructure, including ultra-fast connectivity, resilient cooling systems, and secure data handling practices that meet global compliance standards.

Another concern is the skills gap. While Sri Lanka has made strides in ICT education, it still faces shortages in advanced AI engineering, data science, and digital governance expertise. Closing this gap will require significant investment in education and workforce training to support operations and attract high-value tenants.

The project’s return on investment (ROI) is also uncertain in the short term. Building such a facility demands heavy capital expenditure on land, construction, and energy systems, while revenues depend on strong regional demand and sustained policy stability.

 If successfully implemented, the centre could generate FDI inflows, high-skilled jobs, tax revenue, and technological spillovers across multiple sectors. Yet, delays in execution or policy inconsistency could erode investor trust and limit returns.

From a strategic perspective, the proposal is timely. Global tech firms and governments are increasingly seeking neutral, trusted locations for data hosting amid rising concerns over privacy and geopolitical rivalries. Sri Lanka’s vision aligns well with this trend and could strengthen its position as a regional digital hub. But success will depend on careful planning, transparent governance, and strong partnerships with technologically advanced nations like Japan.If managed effectively, the neutral AI Data Centre could become a cornerstone of Sri Lanka’s digital transformation fostering innovation, enhancing regional cooperation, and cementing the country’s role in the global AI economy. But the true measure of its success will lie not in the ambition of its design, but in the precision and consistency of its execution

Sri Lanka’s tourism industry recorded its highest-ever September arrivals this year, fuelled largely by visitors from India, giving the sector a timely boost ahead of the crucial winter season. The strong performance has revived optimism, though concerns remain about falling short of the Government’s ambitious 2025 targets.

According to the Sri Lanka Tourism Development Authority (SLTDA), 158,971 tourists visited the island in September 2025 a 30.2% year-on-year increase and a new record for the month, surpassing the previous high of 149,087 in 2018. The surge was driven by a steady rise in Indian travellers, whose numbers grew 7% month-on-month, reaffirming India’s position as Sri Lanka’s largest source market.

On average, the country welcomed 5,299 tourists per day, reflecting a 30.13% jump compared to last year. India accounted for 49,697 visitors or 31.3% of total arrivals, followed by the United Kingdom (6.8%), China (6.6%), Germany (5.9%), and Australia (5.7%). Other key contributors included France, Bangladesh, Spain, the Netherlands, and Japan, underscoring the growing diversity of Sri Lanka’s visitor base.

The strong September turnout pushed total tourist arrivals for the first nine months of 2025 to over 1.72 million, representing a 16.2% increase compared to the same period in 2024. However, the figure remains marginally below the pre-crisis benchmark year of 2018, when arrivals by end-September had already reached 1.73 million. India continued to dominate the top source markets with 375,292 visitors, followed by the UK, Russia, Germany, and China.

Industry analysts attributed the record arrivals to heightened global attention following multiple international accolades. Sri Lanka was recently named the No. 1 Most Beautiful Island in the World by Big 7 Travel, ranked ninth on BBC Travel’s list of 25 Best Places to Visit in 2025, and declared the top destination for October 2025 by Time Out magazine. These recognitions, combined with rising interest in meetings, incentives, conferences, and exhibitions (MICE) tourism, have helped restore confidence in the industry.

Despite the positive trajectory, September arrivals fell short of SLTDA’s forecast of 185,000 by around 26,000 visitors, a 16.4% gap. For the January–September period, the target had been 2.19 million visitors, meaning actual numbers were 27.4% below expectations.

In its latest “Growth Scenario” report, the SLTDA projected three possible outcomes for the year. Under the base case, average monthly arrivals of 280,000 from August to December would result in 2.78 million visitors — a post-crisis high but still short of the original 3 million target. The optimistic scenario, requiring 330,000 monthly arrivals, could bring the target within reach, but only with swift visa reforms and intensified global marketing. In contrast, the pessimistic scenario foresees a total of around 2.6 million visitors now informally accepted as the revised target.

Confirming this shift, SLTDA Chairman Buddhika Hewawasam recently acknowledged that Sri Lanka is now aiming for at least 2.6 million arrivals this year. He described this as a “historical high,” surpassing the pre-pandemic record of 2.33 million tourists in 2018. To meet the revised goal, the country will need to attract roughly 875,000 visitors in the final quarter of 2025.

Tourism earnings have also shown resilience. According to the Central Bank, the sector generated $2.3 billion in the first eight months of 2025, up 5.7% year-on-year. Although this remains below the Government’s $5 billion annual target, analysts expect total revenue to exceed last year’s $3.17 billion, the highest since 2018.

Industry stakeholders remain cautiously optimistic. While Sri Lanka may not reach its original 2025 ambitions, they say the sector’s recovery is unmistakable — bolstered by strong seasonal prospects and global recognition. However, they warn that sustaining this growth will require a robust international promotion campaign and an expedited visa-free entry programme, ensuring Sri Lanka remains a preferred destination in an increasingly competitive regional tourism landscape

The Consumer Affairs Authority (CAA) has announced that all reusable plastic bottles and polymer-based feeding bottles will be required to carry Sri Lanka Standards (SLS) certification from April 1, 2026, under a new directive issued through an Extraordinary Gazette on October 1.

The regulation bars manufacturers, importers, distributors, and traders from producing, importing, transporting, storing, or selling such bottles without the official SLS certification mark.

The order applies to two categories:

• SLS 1616 – Specification for Reusable Plastic Bottles for Drinkable Liquids
• SLS 1306 – Specification for Feeding Bottles Made of Polymer Materials

Imported products must undergo inspection and approval by the Sri Lanka Standards Institution (SLSI) under its Import Inspection Scheme.

Signed by CAA Chairman Hemantha Samarakoon, the directive was issued under the Consumer Affairs Authority Act No. 9 of 2003 and the Imports and Exports (Control) Act.

Officials said the measure aims to enhance consumer safety, curb substandard plastic products, and align local practices with international standards.

Sri Lanka’s top anti-graft official Ranga Dissanayake, Director General of the Commission to Investigate Allegations of Bribery or Corruption (CIABOC), has dismissed allegations of his involvement in active politics as “completely false,” calling them part of a campaign to tarnish the Commission’s credibility.

Dissanayake, a serving High Court judge on secondment, stressed that his duty is to uphold CIABOC’s mandate “without fear or favour.” The Commission, emboldened by the 2023 anti-corruption law, has recently accelerated prosecutions, mostly targeting opposition politicians and public officials.

Responding to claims that he was once linked to the JVP, the DG denied any political affiliation, saying: “It is very clear the motive is to tarnish the Commission’s image.”

He also highlighted severe resource shortages, noting that the Commission has only 169 investigating officers and 31 legal officers, compared to a requirement of 967, with Treasury restrictions blocking new recruitment.

The NPP government of President Anura Kumara Dissanayake has positioned its anti-corruption drive as a central pillar of governance.