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Rootcode marks a decade of innovation and global impact in technology

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Today Rootcode employs more than 100 Sri Lankan IT professionals and plans to have a workforce of 1,000 when it marks the next decade

More than 3 million people in the Nordic countries use Rootcode software every week

Set to expand its global presence while contributing to local community through its philanthropic efforts

Rootcode, a leading global software product engineering company, marked its 10th anniversary with a grand celebration at its headquarters. This milestone event highlighted a decade of relentless growth, cutting-edge innovations, and a commitment to delivering world-class technology solutions. The celebration also included the launch of a commemorative book titled “A Decade of Building Great Technology”, which chronicles Rootcode’s evolution from its humble beginnings into a global technology leader. The book captures the company’s journey, featuring pivotal projects, strategic partnerships and its remarkable expansion into global markets.

Over the past decade, Rootcode has grown its services across Europe, partnering with prominent organisations such as the United Nations and Kendrion, a major Dutch manufacturer of electromagnetic systems. Today, Rootcode’s technological solutions power over 100 digital products, serving more than 30 industries worldwide. The company’s footprint now extends to large enterprises and governments, positioning Rootcode as a global player in sectors including agritech, healthcare, esports, e-commerce, and e-governance.

Founder and CEO of Rootcode, Alagan Mahalingam speaking at the event said, “Celebrating Rootcode’s 10th anniversary is a testament to our vision of empowering businesses by building world-class technology. Rootcode has not only made a name for itself globally but has also placed Sri Lanka on the map as a hub for innovative tech solutions. I am immensely grateful to our dedicated team and loyal clients who have been integral to our success. Rootcode’s mission has always been clear – to help businesses build transformative technology both locally and globally.”

Alagan established Rootcode in 2014 with a singular goal to build a mobile app. Over the years, the company broadened its scope, developing advanced technology products that are recognised on the global stage. From its first product, Singify, which was nominated for The Asia Pacific ICT Alliance Awards (APICTA) in 2016, to becoming the champion at The Global Hack hosted by the European Commission, Rootcode has consistently demonstrated excellence. The product from this hack, Expert Republic, became a crucial platform during the pandemic, offering professional services to users worldwide.

From left – CEO of Zivi and a long-time Rootcode client, Kujtim Salihu; Founder and CEO of Rootcode, Alagan Mahalingam and Partner and Chief Operating Officer (COO), Mangala Perera

Rootcode’s journey of innovation and growth was further strengthened with the addition of Mangala Perera, who joined as Partner and Chief Operating Officer. With over 25 years of experience in the tech industry and previously serving as Vice President of Software Operations at IFS, Mangala’s leadership has been instrumental in steering Rootcode toward continued success.

Rootcode’s establishment of a dedicated artificial intelligence division in 2021 marked a significant milestone in the company’s history, positioning it as a pioneer in AI innovation in Sri Lanka. Shortly after, Rootcode launched Rootcode Studio, its user experience design arm, further solidifying its focus on enhancing digital products with top-tier UX design.

In 2022, Rootcode extended its vision beyond business success by launching the Rootcode Foundation, a philanthropic initiative dedicated to empowering underprivileged students through technology education. Rootcode has also fostered a thriving community of tech and AI enthusiasts through its AI Community Meetup, which has grown to over 3,500 attendees globally. These meetups have become a valuable platform for knowledge sharing, networking, and staying updated on the latest technological trends.

Rootcode’s achievements include securing a public tender from the Government of Estonia to build an artificial intelligence framework, marking its first contract with a European government. This collaboration underscores Rootcode’s growing influence in the global tech landscape.

During the anniversary celebration, the CEO of Zivi and a long-time Rootcode client, Kujtim Salihu shared his appreciation for the company’s expertise and dedication: “Since partnering with Rootcode in 2020, I have witnessed their transformation from a small startup into a global technology powerhouse. Their unwavering commitment to delivering exceptional solutions has played a significant role in our success. I trust Rootcode to be a partner in every venture I pursue, knowing they are driven by expertise and a passion for innovation.”

Rootcode’s ability to forge strong, long-lasting client relationships is a testament to its exceptional service quality. With over 100 talented employees and a customer base that spans the Nordic and North American regions, Rootcode continues to deliver impactful digital products to clients across the globe.

As Rootcode embarks on its second decade, it remains focused on advancing cutting-edge technologies, expanding its global presence, and continuing to make meaningful contributions to communities through its philanthropic efforts. Alagan Mahalingam’s vision for the future is clear – to lead the global tech industry while maintaining a deep commitment to innovation and social impact. Rootcode’s remarkable success story is a source of inspiration. By remaining true to its core mission of helping businesses succeed through great technology, Rootcode has built a legacy of growth, resilience, and forward-thinking innovation.



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Sri Lanka secures IMF staff-level deal for USD 700 million tranche

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Sri Lanka has reached a staff-level agreement with the International Monetary Fund to secure the next tranche of funding under its ongoing bailout programme, marking a key step in the country’s fragile economic recovery.

The agreement, announced this week, will enable Sri Lanka to access approximately USD 700 million, subject to approval by the IMF Executive Board. The funds form part of the USD 2.9 billion Extended Fund Facility (EFF) programme agreed following the 2022 economic crisis.

The latest development covers the combined fifth and sixth reviews of Sri Lanka’s reform programme, indicating that the country has made sufficient progress to move forward, while highlighting the need to sustain reform efforts.

Sri Lanka’s economy has shown signs of stabilisation in recent months, supported by improved revenue collection, easing inflation, and a gradual buildup of foreign reserves. However, the recovery remains vulnerable to both domestic and external pressures.

By Ifham Nizam

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Israeli attack on Lebanon triggers local stock market volatility

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Initially CSE trading was somewhat volatile despite the ceasefire in West Asia but it experienced further volatility after Israel attacked Lebanon yesterday.

However, the IMF delegation which is now in Sri Lanka to release two tranches of its relief package created some positive sentiments for the market, analysts said.

The All Share Price Index went down by 73.06 points, while the S and P SL20 rose by 10.57 points.

Turnover stood at Rs 2.96 billion with six crossings. Those crossings were: JKH 5.5 million shares crossed to the tune of Rs 807.6 million and its shares traded at Rs 19.70, CIC Holdings two million shares crossed for Rs 54 million; its shares traded at Rs 32, Access Engineering 600,000 shares crossed for Rs 44.4 million; its shares traded at Rs 74, Central Finance 116,000 shares crossed to the tune of Rs 27.5 million ; its shares sold at Rs 237, LMF 250,000 shares crossed for Rs 22.8 million; its shares fetched Rs 91.10 and Kelani Cables 200,000 shares crossed for Rs 21 million and its shares traded at Rs 105.

In the retail market seven companies that mainly contributed to the turnover were; Dialog Rs237 million (7.5 million shares traded), LMF Rs 203 million (22 million shares traded), Colombo Dockyard Rs 199.7 million (1.1 million shares traded), HBA Foods Rs 163 million (18.5 million shares traded), JKH Rs 156 million (7.8 million shares traded), JKH Rs 156 million (7.8 million shares traded), Softlogic Holdings Rs 117 million (9.6 million shares traded) and Acme Printers Rs 107 million (15.6 million shares traded). During the day 133.3 million share volumes changed hands in 23666 transactions.

It is said that manufacturing sector counters, like JKH, performed well, while food sector counters, especially LMF and HBA Foods, performed well. Other sectors too performed somewhat well during the day.

Yesterday the rupee was quoted a Rs 315.42/48 to the US dollar in the spot market from 315.30/40 the previous day, dealers said, while bond yields were quoted higher.

By Hiran H. Senewiratne

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HNB Assurance marks 25 years with strategic transformation to ‘HNB Life’

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Highlights from the new brand reveal as HNB Assurance transforms into HNB Life

Marking 25 years of trust, growth, and service excellence, HNB Assurance PLC has unveiled its new corporate identity, transitioning to HNB Life PLC a strategic evolution that reflects the company’s forward-looking vision and commitment to empowering lives with protection and the freedom to thrive, no matter where life takes them.

This milestone signifies more than a change in name or visual identity. It represents a deliberate transformation shaped by strong performance over the past few years, during which the company has achieved remarkable growth, strengthened its market position and enhanced its customer-centric capabilities.

The newly introduced logo, inspired by the form of a wing, symbolises HNB Life’s role as a proactive enabler. It reflects the organisation’s commitment to supporting individuals in navigating life’s journey with confidence, empowering them to pursue their aspirations and live life on their own terms.

The official unveiling took place at a launch event attended by key stakeholders, strategic business partners, well-wishers and employees.

Addressing the gathering, Chairman, Stuart Chapman highlighted the significance of this transformation, stating, “As we mark 25 years of progress, the transition to HNB Life reflects our strategic intent to evolve with the changing needs of our customers and the broader market. This new identity embodies our purpose, to enable and empower individuals to achieve what they truly aspire to in life, with confidence and security. As a company we are extremely excited on what the future holds for as, as we build on an incredible foundation laid over the past two and a half decades.”

The new Vision of the Company is “To be the leader in empowering lives with protection and freedom to thrive, no matter where life takes them”.

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