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Dúté Island – The world’s first asset-backed NFT marketplace for the gem & mining industry

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Momentro and The R-Factory in partnership to create the first asset-backed NFT platform for the gem and mining industry.

While the global gem and jewellery industry is currently valued at 85.2 billion dollars, around 90% of the industry in mining countries remains dominated by traditional, family-run businesses. The resultant market has taken on an undemocratic nature, where authentication and certification are the major barriers to entry. If the industry is to be impactfully modernised, a shift of trust and authority seems incumbent. This is where Dúté Island, a partnered project by Momentro and the R Factory, enters the picture with a vision to transform this market through a state-of-the-art combination of blockchain technology, non-fungible-tokens and a decentralized, democratic standpoint.

Dúté Island is a partnered project by the world’s first Gem and Mining Registry that converges the digital and physical worlds with a tokenized NFT marketplace. Using blockchain technology to provide both provenance and security, Dúté Island employs web system algorithms to provide digital certification for precious stones. This would immediately change the distrustful climate of the industry and open doors to the new possibilities of today’s tokenized online economy.

In the early days of the internet, Web 1.0 saw an information economy, where users simply read information online. This was followed by a platform economy with more interaction in Web 2.0 and now, the users of Web 3.0 are keen to read, write and execute transactions online. In the years to come, markets that embrace the rapidly growing revolution of tokenized economies are positioned to take the lead.

Explaining further, Saliya Withana the founder and CEO of Momento said, ‘’We are committed to creating practical solutions for industries using some of the latest web3 technologies. Dúté Island is one of many solutions in our pipeline that will help a high-value legacy sector to embrace the positives of a tokenized economy.’’

By combining traditional stock market principles with a blockchain-based asset registry that guarantees authenticity and proof of origin, Dúté Island is at the forefront of early adaptors to join this revolution as the world’s first asset-backed NFT marketplace for the gem and mining industry. It will provide a simple, user-friendly frontend web interface that will not require above-average knowledge of IT or cryptocurrency for it to be accessible.

“When we developed the structure of this platform, our ethos was to build a very simple structure for both sellers and buyers in order to make it seamless and simple even for the technologically not so savvy. We used special front layer functionalities with blockchain-based database technologies which help users to use the platform without even having a crypto wallet,’’ explained Harsha Mahes, CTO, R-Factory.

Dúté Island will be a platform that the Gem and Mining Industry can depend on in the future and a place where the trust and authenticity behind all transactions are irrefutably genuine.

Momentro provides global growth solutions and strategies for various sectors by way of a total ecosystem approach from ideation to execution and has worked with global brands such as Petronas, Honeywell and MSD Pharma. The R- Factory is an award-winning software design, development organization that currently works together with Momentro on the latest blockchain technologies. Discover Dúté Island today.



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Business

Ambeon Securities hosts exclusive investor forum on Sri Lanka’s economic and market outlook

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The event was organized with the objective of providing investors with valuable insights to make better-informed investment decisions while further strengthening the firm's engagement with its growing client base.

Ambeon Securities recently hosted an exclusive investor forum, bringing together clients, investors, business leaders, and market professionals for an insightful discussion on Sri Lanka’s economic outlook and investment opportunities amidst a challenging global landscape.

The event was organized with the objective of providing investors with valuable insights to make better-informed investment decisions while further strengthening the firm’s engagement with its growing client base.

The forum featured Baqar Zaidi, Director and Chief Economist for Sri Lanka and India at Citi Research, as the keynote speaker. Sharing his perspectives on the evolving global macroeconomic environment, Mr. Zaidi discussed key themes influencing emerging and frontier markets, Sri Lanka’s economic trajectory, and the opportunities lie ahead.

The keynote address was followed by an engaging panel discussion comprising Baqar Zaidi, Aravinda De Silva, respected investor, entrepreneur, and the Chairman of Arcasia Holdings. Hasitha Premaratne, Group Managing Director of Brandix and Asanka Herath, Chief Executive Officer – Unit Trusts and Head of Equities at LYNEAR Wealth Management.

Moderated by Imran Furkan, the panel explored a range of topics including Sri Lanka’s macroeconomic outlook, the future of the Colombo Stock Exchange, sectoral opportunities, capital allocation strategies, investor confidence, and the role of policy reforms in attracting investment and supporting long-term growth.

Speaking at the event, Charith Kamaladasa, Chief Executive Officer of Ambeon Securities, reaffirmed the company’s commitment to facilitate quality insights, informed perspectives, and meaningful dialogue to support their clients while building lasting relationships with them. He noted that in an environment where uncertainty has become the new normal, equipping investors with timely information and expert perspectives is essential for successful wealth creation.

The event was well attended by a distinguished gathering of institutional investors, high-net-worth investors, and business leaders. Among those present were members of the Ambeon Group Board, including Group Chairman Sujeewa Mudalige, Group CEO Dr. Sajeeva Narangoda, and Chairman of Ambeon Securities Mangala Boyagoda. Their presence, together with the participation of Ambeon Group shareholders and valued clients, enriched the discussions and contributed to a vibrant networking session, fostering meaningful dialogue and stronger connections within the investment community.

Through initiatives such as this, Ambeon Securities continues to reinforce its commitment to helping clients navigate evolving market conditions, make informed investment decisions, and achieve their long-term financial goals.

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Tata Group leads humanitarian education support initiative with DIMO and ChildFund

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The Tata Group, in partnership with ChildFund and DIMO, has successfully implemented a humanitarian education support initiative for disaster-affected schoolchildren in Sri Lanka, reaffirming its commitment to helping communities recover from the impacts of Cyclone Ditwah and the subsequent floods.

Following a formal request for support from Sri Lanka, an on-ground assessment was conducted in December 2025. Recognizing the urgent need, several Tata companies joined forces to implement the response program.

As part of this initiative, the ‘Hope in a Backpack’ programme, which provides disaster-affected children with essential educational supplies, was launched by the Tata Group at Taj Samudra, Colombo, in the presence of the Chief Guest, Hon. Prime Minister Dr. Harini Amarasuriya; the Guest of Honour, Hon. Indian High Commissioner Santhosh Jha; Ranjith Pandithage, Chairman of DIMO; Chacko Thomas, Group Chief Sustainability Officer, Tata Sons; and Aditi Ghosh, Country Director, ChildFund.

This initiative is part of DIMO’s Social and Community Pillar, under the project theme ‘Lassana Hetak,’ which focuses on giving the future generation a helping hand towards a better future.

This collective effort was further strengthened by volunteers from Tata and DIMO, who actively mobilized on the ground to pack, distribute, and support affected communities. During the proceedings, specially invited schoolchildren received the backpacks with essential supplies as well.

Commenting on the partnership, Ranjith Pandithage, Chairman of DIMO, said: “DIMO is proud to collaborate on this meaningful initiative alongside the Tata Group and ChildFund as the local implementation and logistics partner. Our relationship with Tata spans more than six decades and has been built on a shared commitment to ethical business practices, trust, and creating lasting value for the communities we serve. These values have shaped our partnership over the years, extending beyond business to initiatives that make a meaningful difference in people’s lives.”

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NovaNest Properties launches Rainbow Apartments in Ratmalana

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Samitha Waidyasekera CEO - NovaNest Properties (Pvt) Ltd

NovaNest Properties (Pvt) Ltd has officially launched Rainbow Apartments, a new residential development in Ratmalana. The announcement was made at an official launch event held at the Shangri-La Hotel, Colombo, marking the company’s latest addition to Sri Lanka’s growing apartment market.

The development is designed to cater to homebuyers seeking modern urban living, as well as investors looking for long-term value. Rainbow Apartments is located in Ratmalana, an area of increasing residential interest, and benefits from the suburb’s established social infrastructure, proximity to major transportation links, and accessibility to Colombo.

The project reflects NovaNest Properties’ commitment to delivering quality residential developments that combine contemporary design with practical living. Intended to satisfy the evolving lifestyle demands of today’s homeowners, Rainbow Apartments features thoughtfully designed living spaces supported by modern amenities. These include two infinity pools, a gym, fully functional workspaces, a mini theatre, stylish cafés, a mini-mart, and a children’s daycare. Additionally, it features a full time medical centre backed by Nawaloka Hospitals PLC Colombo, with a 24-hour ambulance service.

Commenting on the launch, the Chief Executive Officer of NovaNest Properties (Pvt) Ltd, Samitha Waidyasekera, said, “Today’s buyers are looking beyond square footage. In addition to providing long-term value, they want homes that are close to the places where they work, learn, and spend their time. With that shift in mind, Rainbow Apartments was created to bring together a strategic location, thoughtful design, and quality construction in a way that will continue to meet buyers’ needs for years to come. Through our promise of ‘Luxury Beyond Expectations,’ we are committed to delivering an elevated lifestyle experience that combines comfort, convenience, and modern living.

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