Sri Lanka has entered the global artificial intelligence (AI) arena with a dynamic private sector push, marking a new chapter in the island’s tech evolution. Amid a rapidly growing innovation ecosystem, homegrown ventures are stepping forward with world-class ambition—none more so than Futurity, a trailblazing AI-native studio based in Colombo that’s redefining how work gets done in the digital age.

The launch of Futurity signals a powerful shift in Sri Lanka’s technological aspirations—from outsourcing to original innovation. With a vision to deliver globally scalable AI solutions, this startup exemplifies how local expertise and creativity can place Sri Lanka firmly on the global AI map.

Futurity is the country’s first AI-native research and development studio, dedicated exclusively to crafting intelligent workplace solutions that seamlessly integrate into enterprise operations. Built by a multidisciplinary team of engineers, designers, and strategists, Futurity was founded on the belief that technology should be invisible, intelligence should be effortless, and work should simply flow.

“We’re not building AI to replace people,” explains Venuka Wijethunga, Co-Founder and Head of Product Strategy. “We’re building tools that support people—quietly and intuitively. Our goal is to remove everyday workplace friction, from repetitive searches to rewriting the same content or answering the same queries repeatedly.”

Futurity’s AI systems are crafted to blend into workflows, not disrupt them. The studio’s guiding principle—Effortless Intelligence—reflects this ethos. Rather than adding layers of complexity, Futurity designs adaptive solutions that anticipate user needs, understand context, and enhance human performance.

The studio’s offerings span document intelligence, conversational AI interfaces, and AI-generated media, all tailored to eliminate repetitive work and enhance decision-making. Their flagship product, Omni, is an intelligent document orchestration tool built for modern teams. It promises to streamline access to critical information while quietly organizing knowledge behind the scenes.

Futurity is also positioning itself to compete globally. “We’re entering a $638 billion industry projected to surpass $3.6 trillion by 2034,” notes Supun Kaluarachchi, Co-Founder and Head of Business Intelligence. “There’s a clear demand for purpose-built, contextual AI tools. Our focus is on practical innovation—solutions that actually make work easier and more effective.”

While rooted in Sri Lanka’s vibrant tech community, Futurity’s ambitions are international. All products are validated locally but engineered for global scalability, allowing Sri Lankan-born innovations to address challenges in workplaces worldwide.

For Sri Lanka, Futurity is more than just a startup—it’s a signal that the country is ready to compete in the global AI race, driven by private ingenuity and a bold vision for the future of work.

Sri Lanka’s banking sector has shown a notable rebound in early 2025, with loan disbursements steadily increasing across key economic segments.

This growth reflects renewed confidence among borrowers and financial institutions amid improving macroeconomic conditions. While lending appetite strengthens, non-performing loans (NPLs) have also demonstrated a downward trend—except in the retail sector—thanks to better business performance, enhanced recoveries, and lower interest rates.

According to the Central Bank of Sri Lanka’s latest survey, lending activity remained strong in the first quarter of 2025 and is expected to continue through the second quarter.

 The demand for loans among Small and Medium Enterprises (SMEs) surged, with the SME Loan Demand Index rising sharply from 65.0 in the fourth quarter of 2024 to 82.2 in the first quarter of 2025. This signals renewed economic momentum within the SME sector.

Corporate loan demand, which stood at a relatively subdued index value of 57.9 in late 2024, is projected to climb significantly to 81.2 in the second quarter of 2025.

The Central Bank attributes this uptick in loan appetite to improving economic activity, declining interest rates, stable inflation, greater political stability, and growing business confidence.

The report further notes that loan demand is likely to continue increasing in the second quarter, supported by anticipated GDP growth and potential easing of vehicle import restrictions, which could further stimulate credit growth.

Sri Lanka’s monetary policy framework has broadly followed a deflationary approach since late 2022, mirroring successful East Asian models.

 However, an episode of monetary expansion during the fourth quarter of 2024, aimed at narrowly meeting credit targets, resulted in reserve losses and a reemergence of a current account deficit. Historically, Sri Lanka’s policy mix—including inflation-targeted rate cuts—has led to currency instability, requiring subsequent rate hikes and credit tightening to restore confidence.

In early 2025, the central bank’s policy rate has been kept slightly above market rates while accumulating foreign reserves. Yet analysts caution that excess unsterilized liquidity—resulting from foreign currency purchases—could pressure the rupee if it fuels unchecked credit growth.

On a positive note, the non-performing loan ratio has improved across most sectors, driven by stronger cash flows, more favorable economic conditions, flexible repayment structures, and sustained recovery efforts. The only exception is the retail sector, where NPLs have increased, likely due to the persistent high cost of living affecting household repayment capacity.

Overall, the findings underscore a cautiously optimistic outlook for Sri Lanka’s banking sector, with strong loan growth and improving credit quality pointing to a recovering economy in 2025.

Industry and Entrepreneurship Development Minister Sunil Handunnetti announced in Parliament that the recent salt shortage in the country has been effectively resolved. Addressing Parliament on May 22, the Minister dismissed claims made by several Opposition members, asserting that there is no cause for public concern.

Minister Handunnetti explained that, following a Cabinet decision, sufficient salt stocks have now arrived at the port through imports. He assured the public that these stocks will be distributed to the market in the coming days, eliminating any risk of continued shortages.

“The public should not fear a salt shortage to the extent the Opposition suggests. We have taken all necessary steps to address the situation,” he stated, adding that both he and Trade, Commerce, Food Security and Cooperative Development Minister Wasantha Samarasinghe accept full responsibility for resolving the issue.

However, Opposition MP Rauff Hakeem of the Samagi Jana Balawegaya (SJB) raised concerns about the existence of a so-called “salt mafia” in the country. Speaking in Parliament, Hakeem urged the Government to investigate individuals he alleges are manipulating the market.

“Certain individuals with stakes in the Puttalam Salt Company are also serving on its Board of Directors,” he said. “We are concerned whether salt from the Puttalam Saltern is being withheld deliberately to create an artificial shortage and drive up prices.”

Minister Handunnetti did not directly address the alleged monopoly but reiterated that there is no current shortage and warned against panic, suggesting the Opposition might benefit from public unrest.

Showers or thundershowers will occur at times in Western, Sabaragamuwa, North-western and Central provinces and in Galle and Matara districts.

Showers or thundershowers will occur at several places in Uva province and in Ampara, Batticaloa and Polonnaruwa districts during the evening or night. A few showers may occur elsewhere.

Fairly heavy falls above 75 mm are likely at some places in Western and Sabaragamuwa provinces and in Galle, Matara, Nuwara-Eliya and Kandy districts.

Fairly strong winds of about (30-40) kmph can be expected at times over Western slopes of the central hills and in Northern, North-central, North-western and Southern provinces and in Trincomalee district.

The general public is kindly requested to take adequate precautions to minimize damages caused by temporary localized strong winds and lightning during thundershowers

May 22, Colombo (LNW): At a ceremony held at the historic Temple Trees premises, Prime Minister Harini Amarasuriya reaffirmed the government’s dedication to preserving the country’s religious and cultural legacy, underscoring the importance of bridging tradition with modern innovation.

The event, which took place under the auspices of the Buddha Sravaka Caring Centre of Padukka, saw the distribution of digital tablets containing electronic versions of the Tripitaka, alongside printed editions of the sacred Buddhist texts. Sixty university-level Bhikkhus received these offerings, in an initiative led by Venerable Kurupita Dhammananda Thera.

In her address to the gathering, Prime Minister Amarasuriya highlighted the significance of embracing digital tools to uphold and disseminate spiritual teachings. “We are living in a time of rapid technological change, which can threaten the continuity of time-honoured traditions. Yet, initiatives such as this show how the very tools of modernity can serve to preserve the profound wisdom of the Dhamma,” she stated.

She noted that the Tripitaka is more than a repository of scripture—it serves as the moral and philosophical bedrock of Buddhist practice. Making these teachings more accessible to the younger generation of monastics, she argued, not only enriches their education but also nurtures continuity within the monastic tradition.

“The transmission of the Dhamma across generations is crucial. When young monks gain convenient access to these texts, they are empowered to deeply engage with the teachings, which ultimately reinforces the spiritual fabric of our society,” the Prime Minister added.

Emphasising her government’s ongoing commitment, Amarasuriya affirmed that projects which strengthen spiritual and ethical well-being remain a key focus of national policy. She praised the Buddha Sravaka Caring Centre for its compassionate work, particularly in caring for elderly and ailing members of the monastic community.

“The spirit of service embodied by this organisation is exemplary,” she said. “It reflects the values we hold dear as a nation—compassion, respect, and collective responsibility.”

The ceremony drew participation from members of the Maha Sangha and devotees not only from Sri Lanka but also from Malaysia and Thailand. Notable among the attendees were Venerable Kutawatte Saranankara from Malaysia and Venerable Kadahingala Dhammarakkhita Thera, who joined other respected clergy in blessing the proceedings.

The event concluded with a renewed sense of unity and purpose among attendees, marking a significant step forward in harmonising heritage with the digital age.