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SLT share sale : 3 companies submit proposals

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On 10th November 2023 via international and local media, The Government of Sri Lanka (GOSL) acting through The Ministry of Finance, Economic Stabilization and National Policies called for Request for Qualification (RfQ) from potential investors for the divestiture of its shares in Sri Lanka Telecom PLC. The deadline for submission of proposals ended at 2pm on Friday, 12th January 2024.

The RfQs received were considered by the Opening Committee appointed by the Special Cabinet Appointed Negotiating Committee.

3 RfQs were received from the following parties:

  • Jio Platforms Ltd, Gujrat, India
  • Gortune International Investment Holding Ltd c/o Capital Alliance Limited
  • Pettigo Comercio International LDA c/o NDB Investment Bank Ltd

The RfQs will be evaluated as per the Special Guidelines on Divestiture of State-Owned Enterprises approved by the Cabinet of Ministers in July 2023.

The International Finance Corporation acts as Transaction Advisors for the divestiture of shares held by GOSL in Sri Lanka Telecom PLC.

(Press Release from State Owned Enterprises Restructuring Unit)

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Kunming-Colombo Freight Service Takes Off

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In a boost to bilateral trade, China’s S.F. Airlines launched its inaugural Kunming-Colombo cargo flight yesterday, marking a new chapter in Sri Lanka’s logistics connectivity with Yunnan Province.

S.F. Airlines deployed a Boeing 747-200 aircraft for the inaugural flight, which arrived at BIA from Kunming at 10:50 a.m. yesterday (26), carrying 22 metric tons of cargo.

S.F. Airlines – a major Chinese logistics carrier.

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CIB Big City fined Rs. 1 mn. for selling overpriced bottled water

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CIB Big City, a private business outlet in Maharagama, has been fined Rs. 1 million by the Gangodawila Magistrate’s Court today (June 26) for selling overpriced bottled water.

A case was filed against the business outlet following a raid carried out by the Consumer Affairs Authority (CAA) officials on May 09, 2025.

During the raid, officials had discovered that a 500 ml bottle of water has been sold at Rs. 90 despite the MRP being declared as Rs. 70 by a gazette notification published on April 01, 2025.

The store is a part of the well known fashion chain – Wijaya Group, which is chaired by Mr. K.R.G Wijesundera.

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Oil prices plunge as Trump announces ceasefire

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Oil prices fell sharply to their lowest in more than a week on Tuesday as U.S. President Donald Trump said a ceasefire has been agreed between Iran and Israel, alleviating worries of supply disruptions in the Middle East – a major oil-producing region.
Brent crude futures were down $2.08, or 2.9%, at $69.40 a barrel around 0330 GMT, after earlier tumbling more than 4% and touching its lowest level since June 11.

U.S. West Texas Intermediate crude declined $2.03, or 3.0%, to $66.48 per barrel, having dived 6% to its weakest level since June 9 earlier in the session.

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