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Bharti Airtel’s merger deal with Dialog Axiata in Sri Lanka gets regulatory approval 

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Dialog, Axiata Group, and Bharti Airtel have signed a Definitive Agreement to merge operations in Sri Lanka, aiming to deliver a superior experience to customers and improve returns to shareholders. Under this agreement, Dialog will acquire 100% of the issued shares in Airtel Lanka. In exchange, Dialog will issue ordinary voting shares to Bharti Airtel, amounting to 10.355% of the total issued shares of Dialog through a share swap. The transaction is subject to approval from Dialog’s shareholders and completion of specific conditions outlined in the Share Sale Agreement.

The Telecommunications Regulatory Commission of Sri Lanka (TRCSL) has approved the proposed merger, emphasizing its commitment to advancing telecommunications services across the country. This consolidation is expected to yield economies of scale, reduce infrastructure duplication, and achieve synergies in technology and capital expenditure. It will lead to enhanced broadband connectivity, voice, and value-added services, along with cost savings and operational efficiencies.

Vivek Sood, Group CEO and Managing Director of Axiata Group Berhad, stated that the merger aligns with Axiata’s strategy of market consolidation and resilience, creating value for shareholders and achieving synergies. Dr. Hans Wijayasuriya, CEO Telecommunications Business and Group Executive Director of Axiata, emphasized that the merger will contribute to the growth and sustainability of Sri Lanka’s telecom sector, bringing new frontiers in customer experience and innovation.

Gopal Vittal, MD & CEO of Bharti Airtel Limited, expressed satisfaction with merging operations with Dialog, stating confidence that customers will continue to enjoy cutting-edge services on a seamless network. Supun Weerasinghe, Director/Group Chief Executive of Dialog Axiata PLC, welcomed the Airtel Lanka team to the Dialog family, emphasizing the commitment to delivering superior telecommunications services in Sri Lanka.

Ashish Chandra, Chief Executive Officer of Bharti Airtel Lanka (Private) Limited, highlighted the integration of Dialog and Airtel Lanka operations, anticipating new opportunities for innovation and growth to benefit consumers.

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Dubai Based Sri Lankan Entrepreneur Launches Global Forex Marketplace

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A visionary Sri Lankan entrepreneur based in Dubai has launched VerifiedBrands.io, a cutting-edge Forex Marketplace Ecosystem designed to bring transparency, trust, and regulatory compliance to the Global Forex industry.

The platform addresses one of the most critical challenges in online trading — the difficulty of finding legitimate and regulated brokers and financial service providers. VerifiedBrands.io connects traders, licensed Forex brokers, technology providers, and affiliates in a secure and trusted digital marketplace.

“Our mission is simple — to eliminate fraud and scams from the Forex industry and give traders, investors, and partners a reliable ecosystem where only regulated and verified companies are listed,” said Anthony, the founder of VerifiedBrands.io.

VerifiedBrands.io verifies and lists only Regulated Forex brokers and compliant financial technology providers, offering a single platform for:

Traders seeking trusted brokers and services

Companies looking for high-quality leads and exposure

Technology providers offering white-label solutions, trading infrastructure, CRM systems, Liquidity Solutions, Payment Gateways , API solutions

Affiliates and partners wanting to work with compliant, reputable firms

The platform also provides tools and resources to help traders and partners compare, connect, and collaborate confidently, making it a first-of-its-kind ecosystem for the Forex community.

With the global Forex industry estimated at over $6 trillion in daily trading volume, VerifiedBrands.io aims to build a safer, more transparent trading environment and empower investors and traders worldwide to make informed decisions.

For more information, visit www.VerifiedBrands.io

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LB Finance to enter Philippines market through subsidiary

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LB Finance PLC, a Sri Lankan Non-Bank Financial Institution (NBFI), has received regulatory approval from the Central Bank of Sri Lanka to establish a wholly owned subsidiary in the Philippines.

In a corporate disclosure to the Colombo Stock Exchange, the company said the Director of the Department of Supervision of Non-Bank Financial Institutions granted approval on 11 December to set up the subsidiary under the name LB Finance Philippines Inc.

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Commonwealth Enterprise and Investment Council expresses solidarity with Sri Lanka

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The Commonwealth Enterprise and Investment Council (CWEIC) has conveyed its condolences to Sri Lanka over the loss of life and extensive damage caused by Cyclone Ditwah, urging all Commonwealth nations to support the country’s recovery as the scale of devastation continues to unfold.

In a statement signed by CWEIC Chairman Lord Marland and Deputy Chairman Lord Swire, the council said: On behalf of the Commonwealth Enterprise and Investment Council, we extend our sincere condolences to the President and people of Sri Lanka for the tragic loss of life and the widespread destruction caused by Cyclone Ditwah.

With the death toll now exceeding 300, hundreds more people missing, and thousands left without homes or livelihoods, the impact on your nation is devastating, and affecting all parts of the country.

As Commonwealth friends, we acknowledge the suffering that Sri Lanka has already endured through natural disasters; floods, droughts, landslides, and the 2004 tsunami.

Sri Lanka has survived through the extraordinary efforts of countless volunteers and ordinary people. Once again, we see this remarkable resilience and cooperation from Sri Lankans who are working to restore order, basic services, and supplies where possible.

We appeal to all Commonwealth countries to support the recovery efforts, and we will keep Sri Lanka in our thoughts and prayers at this difficult time. CWEIC has a significant presence in Sri Lanka, and our Strategic Partners stand ready to assist in any way we can during this difficult time. We will continue to support international efforts and appeal to Commonwealth nations to contribute to Sri Lanka’s recovery.

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