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Sri Lanka to host Miss World Tourism pageant this month

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The 2023 Miss World Tourism pageant is planned to be held in Sri Lanka from July 20 – July 30.

According to the organizers, this is the first time this pageant is being held in the island nation.

The pageant events will not limit to just the capital city of Colombo but will spread across several regions such as Negombo, Kandy, Nuwara Eliya, Ella, Yala and Weligama.

A press conference in this regard was held in Colombo recently.

According to the organizers, representatives from around 40 countries are expected to participate and they hope the beauty of Sri Lanka will be promoted globally through these contestants not only in English but also in their mother tongues as well.

It was stated here that the contestants will come to Sri Lanka at their own expense and no prize money will be given. They added that they will only host the contestants’ stay.

Speaking as the chief guest of the event, State Minister of Tourism – Diana Gamage said that Sri Lanka is a tourist destination and by the end of 2022, 800,000 tourists had visited the island, bringing in an income of USD 800 million.

As of 2018, 1.9 million tourists had visited the country, which generated an income of 7.7 billion dollars. Therefore, it is necessary to secure at least 5-6 billion dollars through tourism next year, she noted, adding that Sri Lanka should try to attract at least 2 million tourists each year.

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CBSL names 8 more companies conducting prohibited schemes

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The Central Bank of Sri Lanka has named 08 more entities that conduct and/or have conducted prohibited schemes.

“Participating in Pyramid Schemes is a Punishable Offence” Central Bank said in a notice to general public.

The named entities are :
1. Beecoin App/Sunbird Foundation
2. Fast Win (Pvt) Ltd
3. Fruugo Oline App/ Fruugo Oline (Pvt) Ltd
4. Genesis Business School/ Era Miracle (Pvt) Ltd
5. Isimaga International (Pvt) Ltd 
6. Ledger Block 
7. Qnet/Questnet 
8. Ride to Three Freedom (Pvt) Ltd

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6 RfQs received to acquire SriLankan shares

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Sri Lanka’s State-Owned Enterprise Restructuring Unit (SOERU) announces that 06 Request For Qualifications (RfQ) were received for the acquisition of shares of SriLankan Airlines.
These RfQs were received from :

  1. 1. AirAsia Consulting Sdn. Bhd.
  2. 2. Dharshaan Elite Investment Holding (Pvt) Ltd
  3. 3. FITS Aviation (Private) Limited
  4. 4. Sherisha Technologies Private Limited
  5. 5. Treasure Republic Guardians Limited
  6. 6. Hayleys PLC

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Dialog, Axiata Group & Bharti Airtel to merge operations in SL

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Dialog Axiata PLC, Axiata Group Berhad, and Bharti Airtel Limited have signed an agreement to merge their operations in Sri Lanka.

Dialog will acquire Airtel Lanka, with Bharti Airtel receiving ordinary voting shares in Dialog as part of the deal.

The deal has been approved by the Telecommunications Regulatory Commission of Sri Lanka (TRCSL).
The statement issued in this regard is as follows :

Dialog Axiata PLC (“Dialog”), Axiata Group Berhad (“Axiata”) and Bharti Airtel Limited (“Bharti Airtel”) (collectively “the Parties”), signed a Definitive Agreement to combine their operations in Sri Lanka. Under this agreement, Dialog will acquire 100% of the issued shares in Airtel Lanka, in consideration of which Dialog will issue to Bharti Airtel, ordinary voting shares which will amount to 10.355% of the total issued shares of Dialog by way of a share swap. The transaction is subject to the approval of Dialog’s shareholders and is pending the completion of specific conditions outlined in the Share Sale Agreement, including clearance from the Colombo Stock Exchange (CSE) and completion of other applicable legal, corporate and regulatory compliance procedures.

The Telecommunications Regulatory Commission of Sri Lanka (TRCSL) has granted its approval for the proposed merger, underscoring its vision to advance the adoption of telecommunications services across Sri Lanka.

This consolidation will enable the merged entity to garner economies of scale and reduce duplication of infrastructure, achieve synergies in technology and capital expenditure leading to enhanced high speed broadband connectivity, voice and value added services, cost savings and operational efficiencies.

Vivek Sood, Group CEO and Managing Director of Axiata Group Berhad said, “The merger between Dialog and Airtel Lanka is aligned to Axiata’s strategy of market consolidation and resilience. The merger will create value for the shareholders of Dialog Axiata PLC and Axiata Group through achievable synergies. We have the utmost respect for Airtel Lanka and its employees and look forward to working together as we integrate the two companies.”

Commenting, Dr Hans Wijayasuriya, CEO Telecommunications Business and Group Executive Director of Axiata, added “This merger brings together the strengths of two leading telco groups and bodes well for the Growth and Sustainability of Sri Lanka’s flagship Telecom Sector. We look forward to the new frontiers in Customer Experience and innovation the company will deliver to Sri Lankan Consumers and Enterprises.”

Gopal Vittal, MD & CEO Bharti Airtel Limited Said, “We are happy to merge our Sri Lanka operations with Dialog. Given the scale and unique propositions they offer, we are certain that our customers will continue to enjoy cutting edge services on a seamless network.”

“It is a privilege to welcome the team at Airtel Lanka to the Dialog family and together we take a significant step forward in our commitment to delivering superior telecommunications services in Sri Lanka”, remarked Supun Weerasinghe, Director/Group Chief Executive of Dialog Axiata PLC.

“The integration of Dialog and Airtel Lanka operations will unlock new opportunities for innovation and growth, and this will lead to benefit consumers.” Ashish Chandra, Chief Executive Officer, Bharti Airtel Lanka (Private) Limited.

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