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Binance co-founder Zhao set to keep on growing his $33 billion fortune even as he heads to prison for four months

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(CNBC) Changpeng Zhao, the billionaire co-founder and former CEO of Binance, is expected to see his mammoth wealth remain intact and likely continue to climb even as he faces time behind bars after his sentencing in a Seattle court. Zhao, who is commonly referred to as “CZ” in crypto circles, was sentenced to four months in prison on Tuesday, after pleading guilty to charges of enabling money laundering at his crypto exchange.

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Elon Musk’s Starlink now in Sri Lanka

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Billionaire entrepreneur Elon Musk has announced that Starlink, his satellite-based internet service, is now available in Sri Lanka.

Taking to social media platform ‘X’, Musk posted, “Starlink now available in Sri Lanka!”, confirming the official launch of the high-speed satellite internet service in the country.

Starlink received regulatory clearance in August 2024 after the Sri Lankan government amended its telecommunications laws to accommodate satellite-based internet providers.

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Eshana and Sarva appointed to the Global advisory council of the commonwealth Enterprice and Investment Council (CWEIC)

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At the recent meeting of the Global Advisory Council of the Commonwealth Enterprise and Investment Council (CWEIC), held at Pewterers’ Hall in the City of London, Eshana De Silva, Group Chairman of Esna Group, and Sarva Ameresekere, Group Chairman of George Steuart & Co., were formally appointed to the Council.

Chaired by Lord Marland of Odstock, with Lord (Hugo) Swire as Deputy Chair and contributions from Chief Executive Rosie Glazebrook, the meeting brought together senior figures from government, business, and civil society across the 56 Commonwealth nations. Discussions focused on CWEIC’s evolving programme of work, recent initiatives, and the strategic direction of its global partnerships.

Esna Group and George Steuart & Co. have also joined CWEIC as Strategic Partners, further strengthening the Council’s global business network.

The meeting saw strong participation from companies with a presence in Sri Lanka, including Eshana De Silva of Esna Group; Sarva Ameresekere of George Steuart & Co.; and Thilini Ekanayake, Chief People Officer at Shoretree Group.

CWEIC has an official mandate from the Commonwealth Heads of Government to facilitate trade and investment throughout the 56 Commonwealth member nations. The role of CWEIC is to use the convening power and trusted network of the Commonwealth, which is led by His Majesty The King, to drive trade and investment.

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Sri Lanka Moves to Fast Track Japanese Backed E-Gate System Project

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A special committee meeting was recently held at the Ministry of Ports and Civil Aviation to accelerate the implementation of an electronic gate system project, funded through a grant from the Japanese government.

The meeting brought together key stakeholders, including Deputy Minister of Ports and Civil Aviation Janitha Ruwan Kodithuwakku, Deputy Minister of Public Security and Parliamentary Affairs Sunil Watagala, Secretary to the Ministry Senior Professor Kapila C. Perera, Acting Chief of Staff of Japan Kamoshida Naoki, Head of Mission of the International Organization for Migration (IOM) Christine Parko, and representatives from the Sri Lanka Ports Authority, Airports, Customs, and the Ministry of Foreign Affairs.

The committee reviewed the current progress of the e-gate system installation and explored practical steps to expedite the project. Discussions also focused on identifying potential challenges and implementing context-specific adjustments to ensure timely completion.

The electronic gate system aims to modernize border control infrastructure and improve efficiency in passenger processing at key ports of entry in Sri Lanka.

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