Business
MMBL- Pathfinder Group to introduce commercial drone operations
The MMBL-Pathfinder Group, a pioneer investor in the private civil aviation sector in Sri Lanka, through its associate, Pathfinder Capital (Pvt.) Ltd., last week announced it was entering the field of commercial drone operations here.
It said in a news release that having examined the vast array of drones in the market, it had chosen Israel based Airobotics Ltd., which has developed an ideal solution for commercial drone applications, to supply the eqipment necessary for the business.
“The variety of services provided by Airobotics includes perimeter security, HSSE monitoring, emergency response, 2D/3D mapping, survey & analytics, asset inspection etc. Drones developed by Airobotics cover a range of business applications, including public safety, construction, real estate, utilities, ports and airports, and industrial facilities, to name a few,” the release said.
“The management of Pathfinder Capital (Pvt) Ltd will seek to go through the application process with the Civil Aviation Authority of Sri Lanka (CAASL) and work closely with local companies interested in utilizing the state-of-the-art drone system offered by Airobotics Ltd.”
The release explained that airobotics infrastructure allows for fully automated data collection through flights beyond the visual line of sight (BVLOS). This ability to fly remotely enables operators in various industries to operate an aircraft with minimal training or background in aviation.
It added that in homeland security, police officers used the system to reduce response time, in industrial facilities to conduct their inspection work along power lines and railway lines for maintenance work, and in agricultural farmland to observe the health of plantations and check on other aspects of commercial properties.
The release further said drones are usually operated by pilots specially trained for the job. However, with the deployment of advanced technology, autonomous flight capability would render drone operators redundant.
“Airobotics became the first company in the world to receive authorization for unmanned commercial drone operations, granted by the Civil Aviation Authority of Israel way back in 2017. Since then, Airobotics has received regulatory approval for additional countries and has been operating in the US, Singapore and Dubai with multiple clients and rapidly expanding their global unmanned operations. Most recently, Airobotics has entered urban areas and has deployed its infrastructure to fly over millions of people in the UAE,” the release said. It continued:
“Most have heard of drones in the context of military aircraft engaging in warfare or small drones deployed by children and adults alike for recreational purposes. However, drones are increasingly being developed, marketed and used for commercial purposes. It is estimated that since 2012 over US$ 1.5 billion has been invested by commercial drone startups. Looking at the new trends in the drone market, it appears that in the future, drones will represent a significant segment of commercial applications due to their efficiency and capability in gathering and analyzing data.
“With the Covid 19 pandemic sweeping across the world, many countries considered the option of using drones to move medical items required for fighting the pandemic. Sri Lanka Civil Aviation Authority also recognized the utility of drones for surveillance and delivery purposes, revised the regulations that controlled licensing and operation of drones, and invited those interested in registering their drones that could help fight against the pandemic.
“The drone market was expected to grow steadily in the consumer, commercial, and military sectors. In a 2016 report, Goldman Sachs estimated that drone technologies would reach a total market size of $100 billion between 2016 and 2020. The commercial business component of this growth forecast was projected to reach $13 billion. Meanwhile, it was estimated that consumer drone shipments would reach $ 29 million in 2021.
“Practical application of drones includes delivering health-related products and consumer items, mainly the last-mile delivery helping to keep transportation costs low. Another application is drones’ ability to inspect hard to reach places within a fraction of the duration taken by visual inspection undertaken manually. Thus, interested parties could deploy drones for aerial analysis of large construction sites and buildings, pipelines, solar panels, electric grids, commercial plantations, and offshore platforms. The ability of drones to gather high-quality images will save time and money for ports, airports etc., and support perimeter surveillance of large commercial projects.”
Recommends prudent policy choices and regional collaboration
The Asian Development Bank (ADB) has highlighted Sri Lanka’s economic recovery as exceeding initial expectations in its Asian Development Outlook April 2025 report, but cautioned that the rebound remains fragile, with significant risks posed by global trade tensions, fiscal pressures, and unresolved debt vulnerabilities.
The following are some key highlights from the report:
Sri Lanka’s economy is projected to grow at a moderate pace in 2025–2026, driven by broad-based improvements. However, domestic demand is expected to stay sluggish, reflecting lingering challenges from the country’s recent economic crisis. While fiscal consolidation efforts remain on track bolstered by stronger-than-anticipated revenue. With that said, however, the ADB warned that under-execution of capital spending or a loss of reform momentum could derail progress.
Takafumi Kadono, ADB Country Director for Sri Lanka, brings profound expertise in both macro and microeconomic dynamics, steering transformative development support tailored to Sri Lanka’s evolving needs
After a period of deflation, Sri Lanka’s inflation is forecast to rise in 2025 due to higher electricity tariffs, relaxed import restrictions, wage hikes, and exchange rate depreciation. The government’s commitment to fiscal discipline faces pressure from potential expenditure increases, even as external debt interest payments resume, pushing the current account into deficit.
The ADB’s analysis of new US tariffs, identifies Sri Lanka as vulnerable to trade disruptions. Key risks include:
Sri Lankan exporters, particularly in sectors with thin profit margins, face order cancellations and profit losses.
Competitors like India, Malaysia, and Mexico—benefiting from lower US tariffs—could attract investment away from Sri Lanka.
Full implementation of tariffs could slash GDP growth by depressing exports, manufacturing, and investor confidence, while raising unemployment and fiscal strains.
To mitigate risks, the ADB urges Sri Lanka to diversify export markets and products. Opportunities include expanding into niche EU markets and Asian regional partners, as well as boosting high-value sectors like electronics. Strengthening regional cooperation and accelerating structural reforms could enhance resilience.
Despite progress under its IMF program, Sri Lanka’s debt burden remains “high,” requiring sustained reforms to stabilise public finances. The ADB emphasised that fiscal reversals or delays in restructuring could undermine macroeconomic stability.
While South Asia remains the fastest growing subregion fueled by India’s robust domestic demand, Sri Lanka’s trajectory is distinct, marked by post-crisis recovery challenges. Developing Asia’s overall growth is moderating due to US-China trade tensions and China’s property sector woes, further complicating Sri Lanka’s external environment.
“Sri Lanka’s recovery is commendable but incomplete,” the report states. “Accelerating reforms, safeguarding fiscal discipline, and diversifying trade partnerships are critical to navigating global headwinds and ensuring long-term stability.”
As Sri Lanka balances optimism with fragility, the ADB’s outlook underscores the urgency of maintaining reform momentum while preparing for escalating external risks. The path to sustained recovery, concludes, hinges on prudent policy choices and regional collaboration.
By Sanath Nanayakkare
Business
HOPPR Unveiled: PayMaster’s latest innovation that transforms ride-hailing and digital credit access
PayMaster, the leading, award-winning digital payments app in Sri Lanka, has announced its launch of HOPPR, a cutting-edge ride-hailing feature that will transform the market by providing all stakeholders from drivers and customers with financial independence through digital payments and credit access. More than just a ride-hailing service, HOPPR is a tool for financial empowerment that works in unison with PayMaster to allow users to schedule rides without using cash and to open up long-term revenue streams.
A sustainable revenue strategy is established by its unique referral system, which allows drivers to receive lifetime earnings for each user referred, emphasizing that both passengers and drivers are not just participants but valued stakeholders of the platform. Additionally, CREDDY, an AI-powered credit system that acknowledges informal income streams, is connected with HOPPR where drivers can obtain revolving credit of up to Rs.50,000 at 0% interest through CREDDY for everyday expenses, fuel, and vehicle repairs, assisting in closing gaps in their finances and fostering financial stability.
Ransika De Silva, Director/CEO of PayMaster, stated, “With HOPPR, we have built a driver-centric system where each ride is an opportunity to earn, save, and grow financially rather than just a journey. We are changing the financial landscape for gig workers and informal earners, starting with ride-hailing, digital payments, credit access and future expansion into areas for informal income.”
PayMaster is a one-stop app for payments that makes transactions in Sri Lanka easy. From local money transfers, receiving money from around the globe to a local account within two seconds, paying bills, and topping up mobile accounts, users can now also use ride-hailing services thanks to HOPPR. PayMaster, a fully owned subsidiary of Singapore-based FinTech FirstPay (Pte) Ltd, guarantees the highest international security standards by following the criteria for mobile apps from the Central Bank of Sri Lanka (CBSL) and submitting to frequent security assessments conducted by a globally reputed auditing firm.
The CSE opened yesterday in a bullish manner after US President Donald Trump announced a 90-day pause on enforcing increased tariffs on exports.
President Trump said he is ordering a pause on ‘reciprocal’ tariffs slammed on Sri Lanka and other countries after 75 countries offered to negotiate, amid a collapse of stock markets, but a 10 percent tax would remain. Many stock markets around the world were back in the green.
The All Share Price Index was trading up on 693 points within the first half hour of opening and the more liquid S&P SL20 was up 6.42%, or 286 points, at 4,632.00.
Turnover was Rs 6.1 billion with ten crossings. Those crossings were reported in JKH which crossed 30.7 million shares to the tune of Rs 607 million and its shares traded at Rs 20.10, Sampath Bank 3.7 million shares crossed for Rs 419 million; its shares traded at Rs 150, Commercial Bank 2.2 million shares crossed for Rs 151 million; its shares traded at Rs 125.
Singer (Sri Lanka) 1.5 million shares crossed for Rs 52.5 million; its shares traded at Rs 35, Vidul Lanka 3.7 million shares crossed for Rs 49.4 million; its shares traded at Rs 13.50, People’ Leasing 2 million shares crossed to the tune of Rs 35 million; its shares sold at Rs 2.70, HNB 100,000 shares crossed to the tune of Rs 30.5 million, Hemas Holdings 210,000 shares crossed for Rs 23.4 million; its shares traded at Rs 117, LMF 500,000 shares crossed to the tune of Rs 21.4 million; its shares fetched Rs 42.70 and DFCC 200,000 shares crossed to the tune of Rs 20 million; its shares traded at Rs 100.
In the retail market top six companies that have mainly contributed to the turnover were; Sampath Bank Rs 709 million (6.2 million shares traded), Commercial Bank Rs 626 million (4.4 million shares traded), HNB Rs 619 million (two million shares traded), JKH Rs 346 million (three million shares traded), RIL Properties Rs 164 million (10.3 million shares traded) and Brown’s Investments Rs 161 million (22.1 million shares traded).During the day 212 million shares volumes changed hands in 23287 transactions.
Yesterday, US dollar buying rate was Rs 297.50, while the selling rate was Rs 298.60.
By Hiran H Senewiratne
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