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Insta, FB users able to pay for blue tick

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Instagram and Facebook users will now be able to pay for a blue tick verification, parent company Meta has announced.

Meta Verified will cost $11.99 (£9.96) a month on web, or $14.99 for iPhone users.

It will be available in Australia and New Zealand this week.

Mark Zuckerberg, Meta chief executive, said the move will improve security and authenticity on the social media apps.

The move comes after Elon Musk, owner of Twitter, implemented the premium Twitter Blue subscription in November 2022.

Meta’s paid subscription service is not yet available for businesses, but any individual can pay for verification.

Badges – or “blue ticks”- have been used as verification tools for high-profile accounts to signify their authenticity.

The subscription would give paying users a blue badge, increased visibility of their posts, protection from impersonators and easier access to customer service, Meta said in a post on their website.

The company told the BBC the change would not affect previously verified accounts, but noted there would be an increase in visibility for some smaller users who become verified thanks to the paid feature.

Allowing paying users access to a blue tick has previously caused trouble for other social media platforms.

Twitter’s pay-for verification feature was paused last November when people started impersonating big brands and celebrities by paying for the badge.

Meta said Instagram and Facebook usernames will have to match a government supplied ID document to be granted verification, and users will have to have a profile picture that includes their face.

Other websites like Reddit, YouTube and Discord similarly use subscription-based models.

Meta has not yet specified when the feature will be rolled out to other countries, although Mr Zuckerberg said in a post it would be “soon”.

In November, the company announced 11,000 job losses as a result of over-investment during the Covid-19 pandemic.

At the time, Mr Zuckerberg said he had predicted an increase in Meta’s growth based on the rise it had over the pandemic, but that ultimately did not happen.

“Many people predicted this would be a permanent acceleration,” he wrote, “I did too, so I made the decision to significantly increase our investments.”

Instead he said “macroeconomic downturn” and “increased competition” caused revenue to be much lower than expected.

“I got this wrong, and I take responsibility for that,” he said at the time.

(BBC News)

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Visit of CII CEOs delegation to Colombo (Pics)

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A CEOs delegation of the Confederation of Indian Industry (CII), led by Mr. Sanjiv Puri, Immediate Past President, CII and Chairman & Managing Director of ITC Limited, visited Colombo from 29 June to 02 July 2025. 

The visit followed an invitation extended by the President of Sri Lanka during his State Visit to India in December 2024. The delegation comprised over 15 prominent Indian business leaders representing diverse sectors including hospitality, manufacturing, energy, healthcare, textiles, and tourism, among others.

During the visit, the CII delegation also called on the President and the Prime Minister of Sri Lanka. The leadership briefed the Indian business representatives on the constructive measures undertaken by the government to foster a supportive economic climate, promote investment, and ensure fair and transparent business practices.

In addition, the delegation held wide-ranging discussions with several senior Ministers and officials of the Government of Sri Lanka, including the Minister of Energy; Minister of Industry and Entrepreneurship Development; Minister of Labour and Deputy Minister of Economic Development; Minister of Trade, Commerce, Food Security and Cooperative Development; and the Chairman of the Board of Investment of Sri Lanka. These discussions explored avenues for investment-led collaboration and sector-specific partnerships.

A key highlight of the visit was a CEOs’ Roundtable organised by the High Commission of India on 30 June at ITC Ratnadipa, in collaboration with the Ceylon Chamber of Commerce (CCC). The CCC delegation was led by Mr. Krishan Balendra, Chairman and CEO of John Keells Group. The Roundtable witnessed in-depth deliberations on strengthening bilateral economic cooperation and identifying new opportunities for collaboration. High Commissioner of India to Sri Lanka – Mr. Santosh Jha also participated in the interaction.

To mark the occasion, the High Commissioner hosted a networking reception that brought together prominent business leaders, senior ministers, and political leaders. The event also witnessed the participation of leading trade and industry chambers from across Sri Lanka.

The visit of the CII CEOs delegation successfully identified various areas of mutual interest for forging further economic linkages and trade connections. It also highlighted the commitment of apex Indian chambers of commerce, such as CII, to deepening existing economic ties, promoting investment-led partnerships, and exploring new avenues for collaboration between India and Sri Lanka.

The delegation included : 

  • Dr Nandini Rangaswamy – Chairperson, GRG Educational Institutions & Managing Director, Chandra Group of Companies
  • Dr S Chandrakumar – Founder & Executive Chairman Kauvery Group of Hospitals
  • Mr CK Ranganathan – Chairman & Managing Director CavinKare Pvt Ltd
  • Mr G R Anantapadmanaban – Managing Director GRT Group
  • Mr VKC Razak – Chairman, CII Kerala State Council & Managing Director of VKC Footgear Pvt. Ltd.
  • Mr Dipak Das – Managing Director Lanka IOC PLC
  • Mr Christo George – Convenor CII Kerala Manufacturing MSME & Export Panel, Chairman and Managing Director of Hykon India Limited
  • Mr Sohel Firoz Kazani – Founder and Managing Partner of Interport Impex Private Limited (Bharat Freight Group)
  • Mr Sunin Sunny – CEO of Ecospice Ingredients Pvt Ltd.
  • Mr Ravi Dolli – Member, CII Maharashtra Manufacturing Panel & CEO of Alloy Steels
  • Mr Rahul Nayak – Head of International Business TVS Motor Company
  • Ms Neerja Bhatia – Deputy Director General Confederation of Indian Industry
  • Mr Saikat Roy Chowdhury – Executive Director of International Confederation of Indian Industry
  • Mr Manish Mohan – Senior Director of International Confederation of Indian Industry

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

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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.

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CBSL takes action against Nation Lanka Finance PLC

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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.

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