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SL tycoon on Gulf News South Asia rich list
Sri Lankan businessman Ishara Nanayakkara is among South Asia’s wealthiest individuals in the Gulf News 2025 rich list, with an estimated net worth of USD 1.6 billion.
The ranking places Nanayakkara alongside some of the region’s most prominent tycoons, led by India’s Mukesh Ambani, whose staggering USD 118 billion fortune towers over the rest. Ambani’s wealth is nearly 10 times greater than that of Pakistan’s Shahid Khan (USD 13.5 billion), who ranks second.
Others on the list include Bangladesh’s Mossa Bin Shamsher (who claims USD 12 billion) and Nepal’s Binod Chaudhary (USD 1.6 billion).
According to Gulf News, Ambani’s dominance underscores India’s outsized presence in the region’s billionaire club, but Nanayakkara’s inclusion marks a rare Sri Lankan appearance in a ranking long dominated by Indian and Pakistani magnates.
Full text of Gulf News report: As of 2025, Mukesh Ambani, chairman and managing director of Reliance Industries, continues to be the wealthiest person in India and South Asia, with a staggering net worth estimated at $118 billion. His diversified empire spans telecom (Jio), energy, petrochemicals, and retail, cementing his position as a global business magnate. But how does Ambani’s wealth compare to the wealthiest individuals in neighbouring South Asian countries like Pakistan, Nepal, Sri Lanka, and Bangladesh?
Pakistan: Shahid Khan — $13.5 Billion: Shahid Khan, a Pakistani-American billionaire based in the U.S., is widely recognised as the wealthiest person of Pakistani origin. Born in Lahore, Khan made his fortune through Flex-N-Gate, an auto parts company. He also owns the Jacksonville Jaguars (NFL) and Fulham F.C. (UK football). His estimated net worth is $13.5 billion. In Pakistan itself, the wealthiest resident businessman is often cited as Mian Muhammad Mansha, with a net worth of around $3 billion. He heads the Nishat Group, involved in textiles, banking (MCB), and power generation.
Bangladesh: Mossa Bin Shamsher — Claims $12 Billion: In Bangladesh, Mossa Bin Shamsher is a well-known and controversial figure, often referred to as the wealthiest man in the country. He claims a net worth of over $12 billion, primarily from international arms brokerage and global business investments. However, these figures remain unverified by global financial rankings like Forbes. Regardless, Mossa remains a public figure known for his lavish lifestyle, political connections, and philanthropic efforts.
Nepal: Binod Chaudhary — $1.6 Billion: Nepal’s only billionaire, Binod Chaudhary, has a net worth of approximately $1.6 billion. Best known for his Wai Wai noodles brand, Chaudhary heads the Chaudhary Group (CG Corp Global), which operates in sectors ranging from FMCG and electronics to hospitality and real estate.Despite operating in a smaller economy, Chaudhary has managed to build a multinational presence, making him a unique success story in South Asia.
Sri Lanka: Ishara Nanayakkara — $1.6 Billion: As of 2025, Ishara Nanayakkara has emerged as Sri Lanka’s wealthiest person, overtaking Dhammika Perera. With a net worth of around $1.6 billion, he leads LOLC Holdings, a diversified financial services and investment conglomerate with operations in over 10 countries. Nanayakkara has played a pivotal role in expanding Sri Lanka’s presence in the global microfinance and insurance sectors.
The Wealth Gap: Ambani in a league of his own. Despite the wealth and influence of these regional billionaires, Mukesh Ambani’s net worth dwarfs all others in South Asia. His $118 billion fortune is nearly 10 times that of Shahid Khan and far beyond the combined wealth of top tycoons in Bangladesh, Nepal, and Sri Lanka.Whether measured by business scale, global influence, or verified wealth, Ambani stands alone as the undisputed financial powerhouse of the region.
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INS GHARIAL makes port call in Colombo
The Indian Naval Ship (INS) GHARIAL made a port call in Colombo for operational turnarounds on 04 Feb 26. The Sri Lanka Navy welcomed the visiting ship in compliance with naval traditions.
Commanded by Commander Gaurav Tewari, INS GHARIAL is a vessel with a length of 124.8 meters.
During this visit, ten (10) Bailey Bridges, brought by ship, through the coordination of the High Commission of India in Sri Lanka, will be handed over to the Disaster Management Center. These bridges will provide temporary transportation links while bridges damaged across the island by adverse weather conditions are repaired.
The crew’s itinerary features scheduled goodwill activities with the Sri Lanka Navy, alongside visits to several tourist attractions across the island.
News
Speaker’s personal secretary accused of interference with ongoing bribery investigation
SJB Gampaha District MP Harshana Rajakaruna yesterday told Parliament that the Speaker’s Personal Secretary had written to the Secretary-General of Parliament seeking information on a complaint lodged with the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) by a former Deputy Secretary of Parliament against the Speaker. Rajakaruna called for an immediate investigation into what he described as interference with an ongoing probe.
Raising the matter in the House, Rajakaruna said he had formally requested the Commission to initiate an inquiry into the conduct of the Speaker’s Personal Secretary, Chameera Gallage, questioning the authority under which such information had been sought.
Rajapakaruna tabled in Parliament a copy of the letter allegedly sent by Gallage to the Secretary-General requesting details of the bribery complaint.
Addressing the House, Rajakaruna said that the letter, sent two days earlier, had sought “full details” of the complaint against the Speaker. He maintained that seeking such information amounted to interference with an investigation and constituted a serious offence under the Bribery Act.
“The Speaker’s Secretary has no right to interfere with the work of the Bribery Commission. Under what law is he acting? What authority does he have? The Speaker, like everyone else, is subject to the law of the land,” Rajakaruna said, urging the Commission to take immediate action.
He noted that the Bribery Act treated the obstruction of investigations and the destruction of documents relating to such inquiries as serious offences punishable by law, and said he believed the Minister of Justice would concur.
The allegations sparked sharp reactions in the Chamber, as Opposition members called for accountability and due process in relation to the complaint against the Speaker.
By Saman Indrajith
News
Govt: Average power generation cost reduced from Rs. 37 to Rs. 29
The Ceylon Electricity Board has managed to reduce the average cost of electricity generation from Rs. 37 per unit to Rs. 29, marking a 22 percent reduction, Minister of Power and Energy Eng. Kumara Jayakody told Parliament yesterday.
Responding to an oral question raised by Opposition MP Ravi Karunanayake, the Minister said that electricity tariffs cannot be reduced unless the cost of generation is brought down.
“You cannot reduce electricity tariffs without reducing the cost of generation. What we are currently doing is buying at a higher price and selling at a lower price. When we assumed office, the cost of purchasing and generating electricity was Rs. 37 per unit. We have now managed to bring it down to Rs. 29, a reduction of 22 percent.
Our target is to further reduce this to Rs. 25. Once that is achieved, we will reduce electricity tariffs by 30 percent within three years, as we promised,” Minister Jayakody said.
He added that the government has already formulated a long-term generation plan to further expand the country’s power generation capacity.
According to the Minister, key measures include increasing the absorption of renewable energy into the national grid, expanding the national transmission and distribution network, introducing renewable energy storage systems, and constructing thermal and liquefied natural gas (LNG) power plants to replace aging facilities and meet future demand.
He also said that steps would be taken to enhance the capacity of existing hydropower plants as part of the broader strategy to ensure energy security and reduce long-term electricity costs.
By Ifham Nizam
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