Business
Asia’s richest man Ambani announces what could be India’s biggest share sale
Jio Platforms, the telecom unit of billionaire Mukesh Ambani’s Reliance Industries, has announced what analysts say could be one of India’s biggest share sales.
The company’s board has approved a draft prospectus for the initial public offering (IPO), Ambani said at Reliance’s annual shareholder meeting on Friday.
India’s largest telecom operator, which has more than 500 million subscribers, is expected to raise around $4bn (£3.02bn), according to media reports.
Investors will be watching the listing closely as a test of appetite for new offerings after months of volatility in the country’s stock markets.
“The proposed listing of Jio will demonstrate to the world that India can build technology companies of global scale, global capability, and global value,” Ambani, one of the world’s richest men, said.
Launched in 2016, Jio shook up India’s telecom sector with low-cost mobile data plans, soon racking up millions of users. The company has since expanded into areas including cloud computing, enterprise services and artificial intelligence.
Last year, Jio and rival Bharti Airtel signed separate deals with Elon Musk’s SpaceX to bring the Starlink internet service to India.
The IPO comes after a year-long wait for Jio to go public. Last year, Ambani had said the company would be listed in the first half of 2026.
Unlike the secondary markets, where investors buy and sell existing stocks of companies, IPOs are used by privately held firms to sell their shares to investors for the first time, and debut on the public markets.
The Jio IPO was announced a day after the National Stock Exchange (NSE) filed papers for its long-awaited market debut, adding momentum to India’s capital markets.
While details of the offer price and valuation have not yet been disclosed, media reports have estimated that the NSE IPO could raise around more than $3bn.
Together, the Jio and NSE listings would be among India’s largest IPOs in recent years, rivalling Hyundai Motor India’s $3.3bn blockbuster share sale two years ago.
Jio’s listing is especially a close watch for investors and analysts who say a successful offering could boost sentiments in India’s IPO market after a recent slowdown in new listings.

In recent years, Jio has expanded its ambitions beyond telecommunications into artificial intelligence and digital infrastructure.
Earlier this month, Meta announced it would lease capacity at an AI enabled data center being built by Reliance in the western state of Gujarat. The facility is expected to have a capacity of 168 megawatts.
The agreement builds on a partnership that began in 2020, when Meta invested $5.7bn in Jio.
Since then, the companies have broadened their collaboration, including initiatives aimed at making Meta’s open-source AI models more accessible to Indian businesses and developers.
Investment bank Jefferies estimated in November that Jio was worth around $180bn, potentially making it one of the world’s most valuable telecoms companies.
The listing would also be a landmark moment for the Reliance group, marking the first major public offering by one of its businesses since Reliance Petroleum was listed in 2006.
[BBC]
Business
Charting a worker-centered AI future: Colombo hosts landmark ITF conference
By Sanath Nanayakkare
Artificial intelligence and automation present serious challenges for workers – such as job consequences seen in docks and rail systems – and emphasises that workers cannot simply stop technological progress. By gathering young trade unionists in Sri Lanka, the ITF aims to establish key principles for engaging with technology, ensuring workers have a strong voice at the bargaining table, and encouraging constructive social dialogue with corporations and governments.
These compelling words from ITF General Secretary Stephen Cotton underscored the urgent reality facing modern labor as rapid technological advancements sweep across global industries.
Confronting this shifting landscape head-on, the International Transport Workers’ Federation (ITF), in partnership with the National Union of Seafarers of Sri Lanka (NUSS), convened a ground-breaking conference on artificial intelligence in Colombo from September 15–17.
As the ITF’s first-ever AI-focused global conference and the first of its kind hosted in Sri Lanka, the landmark event marked a critical milestone in balancing technological innovation with worker-centered safeguards.
Representing over 16.6 million transport workers worldwide, the ITF designed the gathering to tackle the multifaceted impacts of AI on safety, operations, workforce development, and governance. Rather than resisting progress, the conference focused on proactive engagement, establishing guiding principles to protect workers’ rights and privacy both at sea and on land.
Key discussions centred on sharing best practices for upskilling and reskilling transport personnel, ensuring that human oversight remains central to AI-driven logistics, routing, and maintenance.
Reflecting on the historic nature of the event, Boa Athu, CEO of National Union of Seafarers Asia Pacific, noted that the conference represented a monumental moment as AI emerges as a permanent fixture of contemporary life.
Highlighting NUSS’s pride in hosting the event in Colombo, Athu emphasised that AI offers transformative potential when guided by strong social dialogue, equitable access to training, and robust governance safeguards.
Ultimately, the Colombo conference demonstrated that the future of transport must be shaped by those who keep the world moving. By uniting international labour leaders, affiliates, port operators, and regulators, the event laid a vital foundation for inclusive policy frameworks that champion fair labour standards, securing a powerful voice for workers in an automated tomorrow.
Business
Bridging the digital divide: Sri Lanka’s airport licence challenge
By Sanath Nanayakkare
As Sri Lanka experiences a surge in visitors from its largest tourist market, India, a modern administrative hurdle has emerged at Bandaranaike International Airport (BIA).
While nations like India and Pakistan have successfully transitioned to fully digital driving licences and cashless ecosystems, Sri Lanka’s Department of Motor Traffic counter still requires a physical card to issue temporary local permits, The Island Financial Review learns.
This mismatch creates significant friction for independent travelers who rely entirely on smartphones and cloud-stored credentials. Tourists turned away at the airport – and sometimes redirected to the Werahera office in vain – find themselves unable to legally rent and drive vehicles. Consequently, this policy gap harms local car rental operators, causes tourist frustration, and deprives the government of valuable permit revenue.
The situation highlights a distinct irony: Sri Lankan motorists easily travel abroad using International Driving Permits that are readily accepted in India and Pakistan, yet local infrastructure cannot reciprocate due to outdated verification systems.
Recognizing the problem, Department of Motor Traffic officials have noted that upgrades and new equipment are currently in the works to integrate foreign digital platforms.
For a nation aggressively pursuing a national digitalisation drive, rapidly modernising these transport protocols is essential to keeping pace with global travelers and unlocking the full potential of its tourism economy.
Business
International Afro-Latin Dance Festival in Colombo to grow into a larger regional tourism draw
ALIF-SL, Sri Lanka’s first-ever international Afro-Latin dance festival, returns for its 4th edition from 25 to 27 September 2026 at the Galle Face Hotel, Colombo. The festival will bring together over 30 international and national artists and 175–200 participants from more than 20 countries, reaffirming its place as the region’s leading platform for Salsa, Bachata and Kizomba.
This year’s edition is headlined by Tropical Gem, the world’s No. 1 salsa team, travelling from Italy to perform and teach alongside a stellar international line-up. Attendees can also look forward to the ALIF Cup Sri Lanka Open, a keenly contested competition judged by an international panel, giving local dancers a rare opportunity to compete and connect with world-class talent.
“Every year, ALIF connects Sri Lanka to the world. With this year’s artist line-up and the ALIF Cup competition, we’re not just hosting a festival, we’re putting Sri Lanka on the map as a top destination for dance,” said JD Ruban, Founder and Director of ALIF-SL
Beyond the dance floor, ALIF-SL continues to support Sri Lanka’s tourism sector, drawing dancers, judges and enthusiasts from across the globe to Colombo and positioning the capital as an emerging regional hub for social dance. Organizers plan to grow the festival into a larger regional tourism draw, introduce new competition categories, and bring in even bigger headline acts in future editions.
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