Earlier this year, Phoebe Gates, the youngest daughter of billionaire tech mogul Bill Gates and Melinda French Gates, landed a new job.

The 22-year-old self proclaimed “nepo baby” launched a new podcast courtesy of the Unwell network created by former Barstool Sports star Alex Cooper. During the first episode of their new podcast, The Burnouts, Gates spoke with friend and business partner Sophia Kianni to discuss their time at Stanford while building their new product.

“A lot of times, I think of things through the lens of there’s no sunken cost,” she explained. “It’s easy to look back and think we study these different subjects, law, human biology, that now don’t really necessarily relate exactly to what we’re working on when it comes to fashion tech. And I think it’s also important for people to realize you can always change direction. You can always immediately decide to do something completely different than what you’re doing at that current moment.”

That new product, a shopping app named Phia, is finally here. Gates and Kianni announced the new app is “like Google Flights for fashion.”

“It’s been exciting to bring a vision to life that caters directly to customer needs, and combines innovation with our passion. Shopping for the things you love shouldn’t be hard, expensive, or a waste of time. That’s why we built Phia — to make finding the best deal effortless,” the two told People in a statement on April 24.“Think of it as your personal shopping sidekick, always tagging along on your phone or laptop, making sure you never overpay,” they added. “Phia is like Google Flights for fashion — an AI-powered tool that compares prices across 40,000+ retail and secondhand sites in seconds. No ads, no endless searching — just the best options in one click, so you can get the best price every time.”

YAHOO TECH

In a significant diplomatic development, Sri Lanka and the United States have agreed to accelerate discussions toward finalizing a bilateral trade agreement, with hopes of concluding negotiations in the shortest possible time. This initiative marks a critical milestone for Sri Lanka, which is seeking deeper integration into the global economy and asserting its competitiveness in South Asia.

The breakthrough comes after a high-level meeting between a Sri Lankan delegation and U.S. Trade Representative (USTR) Ambassador Jamieson Greer on April 22 in Washington, D.C. The Sri Lankan side provided a comprehensive update on the economic challenges the country has endured in recent years—including pandemic-driven disruptions and mounting debt—and outlined a series of reform measures undertaken to drive recovery.

The Government of Sri Lanka emphasized its commitment to reducing the trade deficit with the United States and dismantling tariff and non-tariff barriers, positioning itself as a reliable partner for fair and reciprocal trade. Ambassador Greer reportedly responded positively, welcoming Sri Lanka’s written proposals and signaling optimism that a mutually beneficial agreement could soon be realized.

Further discussions took place with USTR officials Brendan Lynch, Assistant Trade Representative for South and Central Asia, and Emily Ashby, Director for South Asia, who are directly responsible for regional policy coordination. Both parties reaffirmed their desire to expedite negotiations, signaling a mutual recognition of the agreement’s strategic and economic significance.

This progress is being hailed by Colombo as a diplomatic win, particularly in light of the broader South Asian context. Unlike regional peers such as Bangladesh and Pakistan—whose trade talks with Washington have either stagnated or become entangled in political complexities—Sri Lanka is emerging as a proactive player, leveraging its relatively liberal trade regime and geopolitical relevance in the Indo-Pacific.

Moreover, Sri Lankan President Anura Kumara Dissanayake has reportedly communicated directly with the U.S. Trade Office, underscoring the importance Colombo places on this agreement. The correspondence is said to include specific commitments on structural economic reforms, enhanced regulatory transparency, and support for U.S. investments in Sri Lanka.

Analysts note that, if successful, the deal could serve as a model for smaller South Asian economies striving to diversify export markets beyond regional partners like India and China. It may also ease the impact of the loss of other preferential trade facilities—such as the potential expiry of the EU’s GSP+ benefits—by securing long-term access to one of the world’s largest consumer markets.

As the talks continue, the government appears keen to fast-track the deal not only to attract U.S. capital and technology, but also to reaffirm its international credibility in a region where economic diplomacy is increasingly tied to strategic partnerships.

Sri Lanka’s cement industry is witnessing a major shake-up with the strategic entry of business tycoon Dhammika Perera, who has acquired a 51% controlling stake in DHT Cement Ltd., marking a bold foray into one of the country’s most competitive industrial sectors.

Perera, through his new venture Vallibel X, invested $20 million—$8 million to buy out original Indian and Sri Lankan shareholders and an additional $12 million in fresh equity.

The move is seen as a significant boost for the local cement manufacturing sector, which is battling structural challenges and fierce competition from imports.

DHT Cement, the maker of PowerTech Premium Cement, operates a state-of-the-art plant in Ekala featuring German-engineered production systems.

With an installed capacity of 80 metric tons per hour, the company currently commands approximately 10% market share, which analysts believe will rise substantially following Perera’s investment.

The Sri Lankan cement market, valued at 4.45 million tons in 2024, has rebounded by 22% from the previous year, though it remains below the 2022 level of 5.45 million tons. Local production surged by 31% to 3.5 million tons, while imports fell slightly to 0.9 million tons, reflecting a shift toward domestic supply.

Despite this growth, local manufacturers continue to face heavy taxation. The Port and Airport Development Levy (PAL) and a cess on imported clinker have created a tax burden rarely seen in other industries. T

hese para-tariffs account for nearly 22% of the retail price of a standard 50kg bag of cement, impacting both producers and consumers.

The industry is currently dominated by Tokyo Cement Company (Lanka) PLC and INSEE Sanstha Cement, with Tokyo Cement reporting a production capacity increase to 4 million tons annually.

The company’s performance in the first nine months of FY25 includes Rs. 37 billion in revenue, a 14% rise in operating profit, and a 64% increase in after-tax profit to Rs. 2.8 billion.

Perera’s investment comes at a pivotal time as Sri Lanka’s construction sector is expected to recover in 2025, buoyed by the resumption of government projects and improved economic conditions. Lower interest rates and reduced construction material costs are also expected to boost demand.

In addition to its cement offerings, DHT provides mobile technical support, in-house testing, and carries SLS 107 and ISO 9001:2015 certifications. The company targets both retail and large-scale engineering projects through its bulk and bagged cement products.

This marks yet another strategic expansion by Perera, who also holds key interests in tiles, aluminium, rooftop solar, and home appliances through various companies. His entry into the cement sector is widely seen as a potential catalyst for innovation and growth within the local industry.

Foreign Affairs, Foreign Employment and Tourism Minister Vijitha Herath will represent the Government of Sri Lanka at the funeral of Pope Francis, which is scheduled to be held today (26) in Saint Peter’s Square, Vatican City, the Ministry of Foreign Affairs announced.

Sri Lanka and the United States have agreed to continue discussions aimed at finalizing a bilateral trade agreement between the two countries in the shortest possible time period.

A Sri Lankan delegation met with U.S. Trade Representative Ambassador Jamieson Greer on Tuesday at the U.S. Trade Representative Office in Washington D.C. Issuing a statement on the discussions held on reciprocal tariffs imposed by the U.S. on Sri Lankan exports, the Sri Lankan Government said the delegation updated Ambassador Greer on the economic challenges Sri Lanka has faced and outlined the measures being taken to recover and achieve stability.

The delegation highlighted the Government’s commitment to reducing the trade deficit with the U.S. and lowering tariff and non-tariff barriers, emphasizing the importance of fair and equitable trade. On the instructions of President Anura Kumara Dissanayake, who also serves as the Minister of Finance, the Sri Lankan officials handed over original communications addressed to Ambassador Greer, proposing the commencement of negotiations. Ambassador Greer welcomed the proposals and expressed optimism about reaching an agreement soon.

Later the same day, the Sri Lankan delegation met with the USTR team appointed by Ambassador Greer, led by Assistant U.S. Trade Representative for South and Central Asia, Brendan Lynch, and Director for South Asia, Emily Ashby. The two sides continued discussions on Sri Lanka’s written trade offer and reaffirmed their mutual intention to finalize the agreement promptly.

The U.S. Trade Representative’s Office, which is responsible for developing and coordinating international trade policy, will continue working closely with Sri Lanka to achieve a comprehensive agreement that supports stronger economic ties between the two nations.

President Anura Kumara Dissanayake visited the Chief Prelates of the Malwathu and Asgiri Chapters of the Siyam Nikaya yesterday (25) and received their blessings.

The President first visited the Malwathu Maha Viharaya and held discussions with the Most Venerable Thibbatuwawe Sri Sumangala Nayaka Thera, Chief Prelate of the Malwathu Chapter, regarding the “Siri Dalada Vandanawa” and related matters.

Thereafter, President Dissanayake proceeded to the Asgiri Maha Viharaya and engaged in a brief discussion with the Most Venerable Warakagoda Sri Gnanarathana Nayaka Thera, Chief Prelate of the Asgiri Chapter.

The President also met with the Venerable Urulewatte Dhammarakkhitha Thera, Asgiri Vihara Senior Karaka Sangha Sabhika, in charge of Theva (Daily Services) of the Temple of the Sacred Tooth Relic.

Diyawadana Nilame of the Sri Dalada Maligawa Nilanga Dela and Acting Inspector General of Police, Priyantha Weerasooriya, were also present during these visits.