Colombo, Sri Lanka – Blue Orbit by Citrus, located within the iconic Lotus Tower, warmly invites guests to “Enter the Orbit,”a refined culinary escape designed to engage the senses and create lasting memories. Celebrated as one of Colombo’s premier fine dining destinations, Blue Orbit is renowned for its seamless blend of sophistication and culinary artistry. Upholding its reputation for excellence, the restaurant offers an unforgettable experience where breathtaking panoramic views, impeccable service, and a meticulously curated menu featuring over 300 delicacies, spanning Italian, Japanese, Chinese, Middle Eastern, Indian, Sri Lankan, and Western cuisines come together in perfect harmony to delight every palate.

The essence of Blue Orbit’s dining experience lies in its ability to elevate every moment. Guests are welcomed into an atmosphere of understated elegance, complemented by the restaurant’s gentle 360-degree rotation, which provides stunning panoramic views of the city and the ocean beyond. This serene setting, paired with warm and attentive hospitality, ensures that each visit feels intimate and exceptional.

At the heart of this experience is a menu that is truly exceptional, meticulously crafted to reflect a sophisticated balance of flavours, textures, and seasonal freshness. Every dish is designed to delight, showcasing culinary artistry that is both innovative and comforting. The cuisine reflects Blue Orbit’s commitment to quality, drawing from the finest ingredients and executed with precision, ensuring that guests enjoy a meal that is as memorable as the setting.

Blue Orbit’s “Enter the Orbit” experience is more than dining; it is an invitation to pause, savour, and connect. Whether for an intimate evening, a special celebration, or an important business occasion, the restaurant’s blend of luxury and warmth creates a welcoming sanctuary where guests can truly unwind and indulge.

We warmly invite you to discover a dining experience beyond the ordinary, where exceptional cuisine is thoughtfully paired with genuine, heartfelt service, only at Blue Orbit, Lotus Tower.

Colombo, Sri Lanka – [07^th November 2025] – Rainco, Sri Lanka’s trusted name in umbrellas and rainwear, unveiled Be by Rainco, an exciting and distinctive new brand of umbrellas that brings fashion and individuality to the forefront of everyday living. Designed for the new generation of consumers who value authenticity and self-expression, Be by Rainco embodies Rainco’s signature craftsmanship and transforms the everyday umbrella into a statement of personal style.

Each umbrella in the newly launched sub-brand is more than protection from the weather and brings together beauty and utility in perfect balance. Combining unique designs with refined detailing, the collection celebrates creativity and effortless individuality.

Speaking at the launch event, Gayani Gunawardena, Group General Manager – Marketing and Innovation, Avarna Ventures (Pvt) Ltd said, “At its heart, Be by Rainco champions a simple yet powerful idea – where function meets self-expression. With bold, trend-driven designs, vibrant prints, and premium finishes, the collection invites consumers to celebrate who they are inrain or shine. Each Be. piece is a reflection of Rainco’s design mastery and innovation. Be by Rainco is our way of giving the new generation the freedom to express themselves with confidence, even in the simplest of moments.”

The Be by Rainco offering comes categorized under four distinctive ranges. It features umbrellas designed for durability and offers UV-coated options for sun protection while maintaining the fashionable look and feel. First in the lineup, the Style Canopy umbrellas are your everyday companions, elevating your look while offering protection from rain or sun. Next, the Carry Easy range is compact and lightweight, making it the perfect handbag essential for those on the go. The Take a Pic collection celebrates the charm of pastel and floral designs and are ideal for special occasions and picture-perfect moments, while Cloud Tears brings a touch of playfulness withchic transparent canopies made for rainy-day charm.

The Be by Rainco collection is available for purchase at leading fashion retail outlets across Sri Lanka and online, with prices ranging from Rs. 1,499 to Rs. 2,999.

Having built its legacy as a trusted household name, Raincorecognized the growing desire among younger consumers to make accessories an extension of their personalities. Backed by the Avarna Group, one of Sri Lanka’s leading diversified conglomerates with business interests spanning from manufacturing to lifestyle, Rainco continues to evolve through design-led innovation and purposeful craftsmanship.

Be by Rainco was born from this insight. It combines the brand’s proven track record of durability and quality with contemporary design elements that speak to the tastes of Gen Z and the modern urban lifestyle.

For decades, Rainco has been synonymous with quality, durability and innovation. With Be by Rainco, the brand now invites a new generation to see an umbrella not just as protection from the elements, but as a powerful symbol of personal expression; bold, confident, and uniquely you.

Photo Captions:

Image 01: The new and unique Be by Rainco umbrella collection 

Image 02: Gayani Gunawardena, Group General Manager – Marketing and Innovation, Avarna Ventures (Pvt) Ltd. speaking at the launch event of Be by Rainco

Image 03: The Bold Bloom range with its petal shaped canopy

Image 04: The Petal Gaze range 

Image 05: The Petal Crush range with a floral-lined canopy 

Image 06: Saasha posing with a Petal Crush styled umbrella

Image 07: Bishari posing with a Sky Crush styled umbrella

Image 08: Blush Lines collection with its layered shades of soft pastels

Fitch Ratings has sounded a cautionary note on Sri Lanka’s fiscal trajectory, highlighting that while the 2026 Budget reflects improvements in deficit management, high public debt and long-term repayment obligations remain key challenges. The ratings agency stressed that sustained revenue growth and disciplined fiscal management will be critical for the government to meet its medium-term targets and maintain macroeconomic stability.

The 2026 Budget, presented on November 7, sets the fiscal deficit at 5.1% of GDP, slightly higher than the 4.5% expected in 2025. Although this represents a modest setback, it still marks an improvement from earlier projections.

Fitch pointed out that Sri Lanka’s stronger-than-expected fiscal performance in 2025 reflected in a revised IMF deficit estimate of 5.4% versus the initial 6.7%—provides some buffer against emerging risks. The government expects the primary balance, which excludes interest payments, to remain in surplus at 2.5% of GDP, above the 2.3% target under the IMF programme, reinforcing policy credibility in Fitch’s assessment.

Revenue mobilization remains central to Fitch’s outlook. While the budget forecasts a slight decline in revenue-to-GDP ratio to 15.4% in 2026 from 15.9% in 2025, Fitch cautioned that any failure to maintain tax growth in line with GDP could erode the country’s credit profile.

 External trade taxes are expected to fall by 1.2% after a one-time surge in vehicle imports, while goods and services tax collections are projected to rise 3.5% and income tax by 8%. Fitch described these projections as “conservative,” noting that nominal GDP growth is likely to exceed 7% due to improved VAT registration thresholds and strengthened tax auditing.

Fitch also flagged structural risks in Sri Lanka’s fiscal approach. Underspending in 2025, with public investment at just 3.2% of GDP compared to the 4% target, may limit long-term growth potential. The 2026 Budget includes measures to stimulate investment, including Colombo Airport expansion, LKR 342 billion for road development, tax incentives for digital infrastructure, and public-private partnership legislation for infrastructure projects.

Despite these measures, Fitch emphasized that high public debt remains a critical challenge. Gross government debt is projected to decline only marginally, from 100.5% of GDP in 2024 to around 96% by 2027 well above the 74% median for similar ‘CCC’ rated countries.

Post-2027, debt repayment obligations are expected to rise after the IMF programme concludes, underscoring Fitch’s warning that sustained fiscal discipline, robust revenue collection, and effective debt management are essential to prevent future fiscal stress.

AMG Critical Materials N.V. (AMG) has announced the sale of its subsidiary, Graphit Kropfmühl GmbH (GK), to Asbury Carbons Inc., a portfolio company of Mill Rock Capital, marking AMG’s complete exit from the natural graphite business. The deal, valued at $65 million, positions Asbury Carbons to expand its global graphite operations, including in Sri Lanka.

GK operates a graphite mine in Kropfmühl, Germany, and holds a majority stake in Bogala Graphite Lanka PLC, which manages one of Sri Lanka’s oldest graphite mines. The acquisition includes all GK operations and approximately 350 employees worldwide. For the 12 months ending August 2025, GK recorded $65 million in revenue, reflecting stable performance despite challenges in the natural graphite market.

Following the announcement, Bogala Graphite Lanka PLC shares surged 25%, closing at Rs. 137, driven by investor optimism about Asbury’s potential to boost Sri Lanka’s graphite production and market reach.

Commenting on the divestment, AMG CEO and Management Board Chairman Dr. Heinz Schimmelbusch said the sale underlines AMG’s focus on strategic portfolio management. “While natural graphite remains an attractive industry, GK did not achieve the scale required to compete as a major supplier to the battery anode market.

Under Asbury Carbons, GK will have better prospects for growth,” he stated. Schimmelbusch added that the proceeds would be used to strengthen AMG’s balance sheet and invest in its core growth areas, particularly critical materials essential for clean energy technologies.

This sale follows AMG’s March 2025 repurchase of the remaining 40% of GK shares from Alterna Capital Partners, finalizing full ownership before the divestment. Under the agreement, AMG can settle the purchase in cash within three years or opt for AMG shares at its discretion.

Asbury Carbons, headquartered in Asbury, New Jersey, is a global leader in carbon-based materials with over 300 employees across 10 facilities in North America and Europe. The company supplies graphite and carbon solutions to industrial clients in steel, automotive, energy, and technology sectors.

Gregg Jones, CEO and Chairman of Asbury Carbons, described the acquisition as a strategic milestone: “Bringing together Asbury and GK combines over 250 years of collective expertise. This move enhances our global supply chain resilience and allows us to deliver advanced carbon technologies to our clients.”

The transaction, pending customary regulatory approvals, is expected to close by the end of 2025. Analysts note that the sale underscores shifting dynamics in the graphite industry, as demand for battery-grade materials intensifies amid global energy transitions.

With Asbury’s entry into the Sri Lankan graphite sector through GK’s majority stake in Bogala Graphite, industry observers anticipate renewed foreign investment interest and potential expansion in Sri Lanka’s high-purity graphite exports a critical component in electric vehicle and battery manufacturing.

The micro, small and medium enterprise (MSME) sector in Sri Lankalong hailed as the backbone of the economy  is now facing acute stress, with many firms on the verge of collapse amid constrained bank lending and inadequate government relief. While MSMEs contribute over half the nation’s gross domestic product and employ millions, their plight is now emerging as a critical fault‐line.

Speaking on behalf of the Ceylon Federation of MSMEs, President Mahendra Perera warned that the 2026 Budget fails to provide meaningful support to this vital constituency. He highlighted two major concerns: the absence of viable relief for businesses saddled with non-performing loans, and the impending reduction of the VAT registration threshold from Rs. 60 million to Rs. 36 million, effective April 2026 a move he says will squeeze small retailers and shift the burden onto struggling consumers.

Despite the government introducing new credit lines for MSMEs, Perera pointed out that businesses which have already suffered multi-year losses cannot access fresh financing because they are classified as NPLs (non-performing loans). “There is no mechanism for businesses that have been hit over the past five years to obtain new loans,” he told the Daily FT. Many firms remain liquidity-constrained, unable to service existing debt, let alone grow.

Official data underline how critical MSMEs are to Sri Lanka’s economy. The sector is estimated to generate over 52% of GDP and employ around 4.5 million people.

Yet, the support structure is breaking down. A survey commissioned by the government found that during 2019–22 more than one-in-five surveyed MSMEs had closed permanently or temporarily 20.2%.

While some relief measures were introduced such as circulars from the Central Bank of Sri Lanka (CBSL) advising banks to negotiate business revival plans with affected SMEs by 31 March 2025critics say they fall far short of the scale and specificity required.

The bank-execution issue looms large. Many MSMEs report that banks continue to move toward enforcing collateral calls and recovery actions rather than restructuring loans. Such pressure comes just when government-promoted budgeted credit facilities are being rolled out, yet these schemes do not reach enterprises already trapped in NPL status. The mismatch, Perera says, means that while new financing is nominally available, the firms that most need help are excluded.

Adding to the complexity is the value-added tax change. By lowering the registration threshold to Rs. 36 million, the government risks dragging more small retailers into the VAT net and increasing end-consumer VAT burdens potentially reducing demand for MSME-supplied goods and services just as cash‐flow is already under strain.

The MSME crisis also has broader macro implications. With MSMEs accounting for such a large part of output and employment, their distress risks dragging down investment, exports and broader growth momentum. The economy grew by around 4.5% in the first quarter of 2025, but analysts warn that structural damage and enterprise distress could undermine this recovery.

In the coming days, the Federation plans to press the government and engage with banks to advance a practical mechanism that will restore viable access to capital for genuinely affected MSMEs. Without such intervention, the sector may not only shrink but also leave a lasting void in Sri Lanka’s employment and growth engine.

The signs are clear: Sri Lanka’s MSMEs are running on fumes. They require targeted relief, inclusive credit restructuring and demand‐support policies not just new loan schemes that do not reach the hardest hit. Whether policy-makers step in now will determine whether the sector survives or becomes another casualty of the crisis.

Sri Lanka’s foreign exchange reserves, though showing modest recovery, remain under pressure as rising import expenditure and continued foreign currency outflows strain the island’s external position.

According to Central Bank of Sri Lanka (CBSL) and international data, gross official reserves stood at US$ 6.3 billion by April 2025, slightly lower than US$ 6.47 billion recorded in October 2024. By September 2025, reserves edged up to US$ 6.24 billion, indicating some improvement but still far below sustainable levels.

These reserves cover only about 3.4 months of imports, leaving the country with little cushion against external shocks. Meanwhile, import pressures continue to intensify. In September 2025, import expenditure surged to US$ 2.048 billion, while exports were limited to US$ 1.139 billion, producing a trade deficit exceeding US$ 900 million.

During the first seven months of 2024, import spending grew 9.1% year-on-year, outpacing the 5.6% growth in exports a clear signal of widening foreign exchange leakage. Fuel imports, intermediate goods, and raw materials continue to dominate the import bill, while renewed private-sector credit growth further drives import demand.

CBSL data also show that December 2024 recorded the highest import bill of the year, widening the merchandise trade deficit even further. Part of the reserve buildup during late 2024 came from currency-swap arrangements and unsterilised foreign-exchange purchases, raising questions about the true level of usable reserves. Analysts estimate reserves could be overstated by around US$ 1.4 billion, due to the inclusion of a RMB 10 billion Chinese swap that does not meet full international reserve standards.

To stabilize the situation, policymakers face a dual challenge: boosting foreign-currency earnings through tourism, remittances, and services exports, while curbing non-essential imports and maintaining transparent reserve management. CBSL has emphasized the need for cautious reserve-building and clearer reporting to restore investor confidence.

Governor Nandalal Weerasinghe has set a target of US$ 7 billion in reserves by end-2025, a goal that depends on sustained export recovery and disciplined fiscal management. Failure to control import-driven outflows and narrow the structural foreign exchange gap could expose the economy to renewed currency volatility and external debt risks.

In essence, Sri Lanka’s reserve recovery remains a fragile balancing act. To convert its modest buffer into genuine resilience, the nation must strengthen export competitiveness, attract stable foreign inflows, and ensure transparency in managing its limited reserves.