BIZ

Dialog – Airtel to combine operations in SL

Published

2 years ago

May 2, 2023

editor

Dialog Axiata PLC and its Malaysian Parent Axiata Group Berhad and India’s Bharti Airtel Limited have entered into a binding term sheet to combine operations of Bharti Airtel Lanka, Airtel’s wholly-owned subsidiary, with Dialog Axiata.

According to a stock market filing by Dialog, the proposed transaction envisages Airtel being granted a stake in Dialog, representing the fair value of Airtel Lanka.

Airtel would accordingly be issued new shares in Dialog Axiata upon completion of the transaction.

“Discussions with respect to the proposed transaction are ongoing between the Parties and also with the relevant regulatory authorities as per applicable laws and regulations,” Dialog Axiata Director/CEO Supun Weerasinghe said.

“The proposed transaction is subject to signing of definitive agreements and necessary closing conditions including applicable regulatory and shareholder approvals,” he added.

BIZ

Lanka IOC donates Rs. 100 mn. to the President’s Fund

Published

11 hours ago

July 4, 2025

editor

The Lanka Indian Oil Company (LIOC) has donated Rs. 100 million to the President’s Fund.

Mr. Dipak Das, Managing Director of Lanka Indian Oil Company, handed over the relevant cheque to Dr. Nandika Sanath Kumanayake, Secretary to the President, at the Presidential Secretariat today (July 04).

It is noteworthy that this donation is in addition to the contributions Lanka Indian Oil Company already makes to the education, health and cultural sectors in the country.

Mr. Roshan Gamage, Senior Additional Secretary to the President and a group of representatives from Lanka Indian Oil Company were also present at the occasion.

Mr. Das was a part of the CEOs delegation of the Confederation of Indian Industry (CII) who was in Colombo from June 29 – July 02.

BIZ

CBSL takes action against Nation Lanka Finance PLC

Published

11 hours ago

July 4, 2025

editor

The Central Bank of Sri Lanka (CBSL) has initiated resolution action against Nation Lanka Finance PLC (NLFP), effective from today (July 04) due to continuous violations of the Finance Business Act No. 42 of 2011 and related regulatory directives.

The company has been facing a deteriorating financial position marked by capital deficiencies, poor asset quality, ongoing losses, and failure to repay depositors.

press_20250704_execution_of_resolution_action_on_nation_lanka_finance_plc_e Download

BIZ

Alert raised on fake tickets for City of Dreams opening

Published

11 hours ago

July 4, 2025

editor

The management of City of Dreams Sri Lanka has urged the public to be aware of unauthorized tickets being circulated for its Grand Opening event, which is scheduled to take place on August 02.

In an official statement, the organizers emphasized that the event is strictly by invitation only and that no third parties have been permitted to sell, distribute, or issue tickets for the occasion.

“We have received reports of counterfeit tickets being offered via unofficial sources. We strongly advise the public to remain vigilant and avoid engaging with such offers,” the announcement stated.
For any inquiries or clarifications, the management encourages individuals to use the official communication channels of City of Dreams Sri Lanka to obtain accurate information.