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Wednesday June 19th, 2024

Sri Lanka’s Dialog offers extra data, credit and all channels on payTV during Covid-19 crisis

ECONOMYNEXT – Sri Lanka’s Dialog Axiata said it is offering extra data free, emergency credit, all channel on its payTV service, during a Coronavirus crisis.

The full statement is reproduced below:

e-Health – Tele-Medicine and National Awareness via 1390

The health and wellbeing of Sri Lankans remains Dialog’s top priority. In line with the Government’s initiatives of curbing the coronavirus outbreak, Dialog in partnership with Wavenet International Pvt Ltd and MyDoctor (My Health Solutions Pvt Ltd), launched a free trilingual hotline via1390 to provideall Sri Lankans with access to remote medical consultationsand minimise physical visits to busy hospitals and clinics. This trilingual medical advisory service can be accessed free of charge by dialling 1390 from any network.

Dialog deployed a pre-call announcement to inform of precautions on COVID19 andalso established 135 – a free trilingual IVR service, for customers to receive information and advice on the latest developments of the Coronavirus outbreak.In addition to these hotlines, an Android/iOS app with more information on COVID-19 will be launched soon.

e-Learning – Free Content with No Data Chargeson and Government Education Platforms.

In its efforts tominimise the disruption to the education system due to the early closure of schools, Dialog in partnership with the Ministry of Education and Headstart Pvt Ltd deployed a suite of free educational content and applications without any data charges for our children to continue learning from home. Dialog together with its partners have extended free content and online access to the following educational and content platforms:

2. e-thaksalawa –
3. Nenasa App – available on the Goole Play Store
4. Dialog ViUApp – available on the Google Play store and App Store

In addition to the above platforms, Dialog in partnership with the University Grants Commission and the Telecommunications Regulatory Commission of Sri Lanka are set to providefree access with no Data charges to all official e-Learning platforms of State Universities effective 23 March 2020.

Double Benefits – Data, Talk Time for Personal and Enterprise Applications
To facilitate Dialog customers to work from home and keep them connected during these challenging times, Dialog launched a host of concessions and special offers from 16 March 2020.

• Double Data on Home and Mobile Broadband

Double Data on Home Broadband and Mobile Postpaid Data Pack Extensions

Dialog offers 100% bonus for allData extensions on both Home and Mobile Broadband Postpaid accounts, effective from16thMarch 2020. This has enabled over 600,000 Home Broadband users and over 1.4 Million postpaid mobile customers to stay online during this critical period where everyone is confined to their homes. Those that require data can activate data add-on packs via the MyDialog App or and receive double the data for the same price.

Doubled 4G Bonus to 100% for Prepaid Data Cards and Online Purchases

To keep our 13.4 Million prepaid mobile users connected, Dialog has doubled the standard 50% 4G Bonus to 100% 4G Anytime bonus for all internet card purchases through any of the online channels including the MyDialog/Genie Apps or effective 23 March 2020. The same offer is availablefor all Data Cards above Rs.349/- activated through any channel, effective22ndMarch 2020.

• Double Talk Time for Daily and Weekly Prepaid Blaster Packs

Dialog mobile Prepaid customers can avail 100% bonus Talk Time/ SMS /Data on daily/weekly Voice and Combo packs from 22nd March 2020. To purchase these special packs, customers can dial #678# from their Dialog mobile.

• Stay updated with Free News Alerts

To stay updated on the latest developments during this prevailing situation, a free subscription until 31st March to selected news alerts has been provided. To activate News Alerts customers can dial #678# or use the MyDialog app.

Unlimited Entertainment Home and on the Mobile

• Free Access to Dialog ViU Entertainment App to WatchLive TV and Video on Demand
All Mobile and Home Broadband customers can also enjoy the Dialog ViU app – Sri Lanka’s largest Video and Live TV collection – with no data charges. The Dialog ViU app is another medium where Dialog customers can access free Live TV and Video without any data charges anywhere, anytime on the Dialog network, to keep everyone entertained with 60 live channels and 1000+ local movies, dramas, edutainment content and originals.

• Dialog Television- Access to All Channels

To help Sri Lankans get through the social restrictions put in place to fight the Coronavirus pandemic, Dialog has extended all of its television channels to all Dialog Television customers for as low as Rs. 100/- +tax for a period of 14 days (or Rs. 75 +tax when activated via the MyDialog App) which provides access to an array of entertainment and edutainment content at home during this period.

Extended Credit for All CustomersDialog stepped forward to help its Mobile, Home Broadband, TV and Enterprise customers stay connected by extending the credit period of customers and providing additional emergency credit to maintain uninterrupted service during this period.

• All Post-paidMobile, Fixed Broadband and Television Customer Credit Limits Enhanced
Automatic credit enhancement up to 50% from the existing credit limit (upon reaching the limit), has been enabled whilst disconnections due to non-payment of February bill has been suspended till 27 March 2020.

• Emergency Credit for all mobile Prepaid Customers

An emergency credit facility is offered for all Dialog mobile prepaid customers who are unable to purchase top up cards or reloads. Customers can dial #007# to obtain the emergency credit from Dialog.

e-Care -Digital Customer Support on MyDialog App and WhatsApp Channels

Subscribers are encouraged to use Dialog’s digital selfcare platforms ( or the MyDialog App) for help on Dialog products and services. The MyDialog App also gives you the ability to manage your family’s/business’ Dialog Services, along with the ability to reload any Dialog connection conveniently. In addition to the digital platforms, customers are recommended to use the dedicated payment kiosks for cash transactions such as reloads, bill payments and eZ Cash top-ups.

The company also provides the added benefit of being available on WhatsApp; Dialog customers can conveniently WhatsApp Dialog on 777 678 678 anytime and anywhere regarding any services offered by the company.

e- Home Working Support for Enterprises

Dialog isdedicated and fully prepared towards supporting enterprises to stay connected and be equipped with the right tools and bespoke connectivity solutions. Customers are encouraged to contact Dialog’s Enterprise Account Managers who are available at any time via 777887887 and 117100200 or visit for assistance.

• Microsoft Office365 Business Essentials:

Dialog offers a special 50% discount on its latest bundlefor enterprise customers by, combining Microsoft Office365 Business Essentials with 2 GB additional mobile data.For those requiring online access to Microsoft office 365 platform, Dialog launched a special data bundleon Mobile and Home Broadband where5GB of mobile data is priced at Rs.200/- while Unlimited data on Home Broadband is offered at a nominal price of Rs. 100.

• Dialog BizConferencing Solution:

Dialog has also introduced ‘BizConferencing’, a flexible and cost-effective Voice Conference Solution that is secure and easy to use anytime and anywhere.

• Double Data for Enterprise:

The 100% Data bonus offered for HBB and Postpaid mobile subscribers is applicable for all Enterprise usage which can be activated via MyDialog app or by Bizcare platform. Alternatively, those that require special Enterprise data plans could contact the respective account manager or visit

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Central banks expect to increase gold reserves after buying 1,037 tonnes in 2023: Survey

ECONOMYNEXT – About 29 percent of central banks in the world intended to increase their gold reserves in 2023, up from 24 percent in 2023 and just 8 percent in 2019, a survey by the World Gold Council showed.

“The planned purchases are chiefly motivated by a desire to rebalance to a more preferred strategic level of gold holdings, domestic gold production, and financial market concerns including higher crisis risks and rising inflation,” the WGC said.

About 81 percent of 70 central banks that responded to the survey expected global central bank holdings of gold to go up, from 71 percent in 2023.

While in prior years, gold’s “historical position” was the top reason for central banks to hold gold, this factor dropped significantly to number five this year.

This year, the top reason for central banks to hold gold is “long-term store of value / inflation hedge” (88%), followed by “performance during times of crisis” (82%), “effective portfolio diversifier” (75%) and “no default risk” (72%).

Concerns about sanctions were listed as by 23 percent of emerging market central banks (0 advanced).

De-dollarization as a reason to hold gold gained ground, but was not among the main reasons.

About 13 percent of emerging market central banks listed de-dollarization as one of the reasons to buy gold up from 11 percent last year and 6 advanced nations said the same from zero last year.

Around 49 percent of central banks expected gold reserves to be moderately lower five year from now in the 2024 survey, against 49 percent in 2023 and 38 percent in 2022.

About 13 percent of central banks surveyed said US dollar reserves would be significantly lower in the 2024 survey, up from 5 percent in 2023 and 4 percent in 2022. (Colombo/June18/2024)

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Sri Lanka rupee closes weaker at 304.75/305.40 to US dollar

ECONOMYNEXT – Sri Lanka’s rupee closed weaker at 304.75/305.40 to the US dollar Tuesday, down from 304.15 to the US dollar Friday, dealer said, while some bond yields edged up.

Sri Lanka’s rupee has weakened amid unsterilized excess liquidity from earlier dollar purchases.

Excess liquidity fell from as high as 200 billion rupees, helped by some sales of maturing bills and also allowing some term contracts to run out.

However the central bank has started to inject liquidity again below its policy rate to suppress interest rates.

On Tuesday 30 billion rupees was printed overnight at an average yield of only 8.73 percent.

Separately another 25 billion rupees was printed till June 25 at 8.09 percent to 9.05 percent, which was still below overnight the policy rate of 9.5 percent.

Nobody has so far taken the central bank to court for printing money beyond overnight at rates lower than the overnight rate.

Sri Lanka operates an ad hoc exchange rate regime called ‘flexible exchange rate’ which triggers panic among market participants, as the central bank stays away when spikes in credit either creates import demand or unsterilized credit is used up.

“If large volumes of unsterilized liquidity is left, the exchange rate has to be closely defended to prevent speculation involving early covering of import bills and late selling of exports proceeds,” EN’s economic columnist Bellwether says.

“Just as an appreciating or stable exchange rate leads to late covering of import bills, a falling rates leads to immediate covering of import bills.

“Keeping exchange rates stable is a relatively simple exercise but it is difficult to do so if short term rates are also closely targeted with printed money, as liquidity runs out, as if the country had a free float and no reserve target.”

“When there is a large volume of excess liquidity remaining (except those voluntary deposited for long periods by risk averse banks) the the interest rates structure is under-stated compared to the reported reserves.

“Interest rates would be a little higher than seen in the market if the liquidity was mopped up and domestic credit and imports were blocked to prevent the reserves from being used up.”

In East Asia there is greater knowledge of central bank operational frameworks, though International Monetary Fund driven flawed doctrine are also threatening the monetary stability of those countries, critics say.


Vietnam selling SBV bills to stabilize the Dong, as Sri Lanka rupee also weakens

Sri Lanka’s rupee started to collapse steeply after the IMF’s Second Amendment in 1978 along with many other countries as flawed operational frameworks gained ground without a credible anchor.

A bond maturing on 15.12.2026 closed at 10.10/30 percent up from 10.05/30 percent Friday.

A bond maturing on 15.10.2027 closed at 10.60/57 flat from 10.60/80 percent.

A bond maturing on 01.07.2028 closed at 11.15/35 percent, up from 11.05/20 percent.

A bond maturing on 15.09.2029 closed at 11.80/90 percent unchanged.

A bond maturing on 15.10.2030 closed at 11.90/12.00 percent.

A maturing on 10.12.2031 closed at 11.95/12.10 percent.

A bond maturing on 01.10.2032 closed at down at 11.95/12.10 percent, down from 12.00/10 percent. (Colombo/Jun14/2024)

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Sri Lanka’s Ceylon Chamber links up with Gujarat Chamber

ECONOMYNEXT – The Ceylon Chamber of Commerce has signed an agreement with the Southern Gujarat Chamber of Commerce and Industry (SGCCI) to increase trade cooperation between India and Sri Lanka.

The MOU was signed by CCC CEO Buwanekabahu Perera, SGCCI President Ramesh Vaghasia, in the presence of Dr Valsan Vethody, Consul General for Sri Lanka in Mumbai, India.

“With the signing of the MoU, … the Ceylon Chamber of Commerce and SGCCI aim to facilitate trade between the two countries via initiatives such as trade fairs and delegations, business networking events, training programmes,” the Ceylon Chamber said in a statement.

“This partnership will open doors for Sri Lankan businesses to explore opportunities in Surat’s dynamic market and enable the sharing of expertise and resources between the two regions.”

Established in 1940, SGCCI engages with over 12,000 members and indirect ties with more than 2,00,000 members via 150 associations. It promotes trade, commerce, and industry in South Gujarat.

The region’s commercial and economic centre Surat has risen to prominence as the global epicenter for diamond cutting and as India’s textile hub, and is ranked the world’s 4th fastest growing city with a GDP growth rate of 11.5%

Surat’s economic landscape is vibrant and diverse. As India’s 8th largest and Gujarat’s 2nd largest city, it boasts the highest average annual household income in the country.

The nearby Hazira Industrial Area hosts major corporations like Reliance, ESSAR, SHELL, and L&T. (Colombo/Jun18/2024)

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