Tag: lbo
PropertyGuru doubles down on Southeast Asia with funding round
(PRESS RELEASE) Group bolsters its regional leadership with the new funding and full consolidation of Vietnam’s No. 1 property portal, Batdongsan.com.vn SINGAPORE, 31 October 2018 – PropertyGuru Group (‘PropertyGuru’ or ‘the Group’), Asia’s leading property technology group, today announced that it has secured S$200 million (approx.) [US$145 million] in a Series D round of funding […]
Foreign Minister meets Heads of Mission of SAARC countries
(PRESS RELEASE) – Foreign Minister Dr. Sarath Amunugama met the Ambassadors and High Commissioners of SAARC countries and their representatives at his office today (31). Heads of Mission and their representatives of Afghanistan, Bangladesh, Nepal, India, Maldives and Pakistan were present on this occasion to discuss matters of mutual interest. The Secretary to the Ministry […]
Sri Lanka export income up in Aug 2018: Reserves at USD 8.6Bn
Oct 30, 2018 (LBO) – The Central Bank of Sri Lanka said the island’s external sector performance remained subdued in August 2018. “During the month, the deficit in the trade account narrowed marginally compared to a year earlier as the rise in export income outpaced the growth in import expenditure,” it said. Meanwhile, other inflows […]
Smuggled Cigarettes: A challenge to Govt.’s revenue and health objectives
(RIU) –Sri Lanka is one of the first middle-income countries to adopt a strong tobacco control policy. The country ratified the Framework Convention on Tobacco Control (FCTC) and made early progress with a ban on enclosed public place smoking, graphic health warnings, ban on sales to persons under 21 and a ban on sponsorship, supported by […]
AmCham appoints new Board of Directors for 2018/2019
(Press release) – The 26th Annual General Meeting of the American Chamber of Commerce in Sri Lanka (AmCham) was held in September at the Hilton Colombo Residences, ushering in the new Board of Directors for 2018/2019. Mr. Michael Koest is the newly elected President of AMCHAM.Mr. Koest takes over from Dr. Kumudu Gunasekera who successfully completed his […]
Mangala reveals fuel pricing formula
Oct 18, 2018 (LBO) – Sri Lanka’s Finance Minister Mangala Smaraweera reveled to media the recently introduced fuel price formula calculation method following repeated calls for it. “The Maximum Retail Price (MRP) of auto fuels has been established as follows MRP = V1 + V2 + V3 + V4,” he told reporters in Colombo a short while […]
Western Union & Sampath Bank offer international money transfer services in Sri Lanka
(PRESS RELEASE) – Western Union, a leader in cross-border, cross-currency money movement and Sampath Bank, one of Sri Lanka’s leading private commercial banks, have joined forces to provide customers,nation-wide access to international money transfers in minutes[1] from more than 200 countries and territories. Sampath Bank’s 229 branches across the island now offer Western Union® Money […]
Pharma industry withdraws 11 drugs from market: Importing not commercially viable
Oct 17, 2018 (LBO) – The Sri Lanka Chamber of Pharmaceutical Industry (SLCPI) in a statement to media said that despite persistent appeals, the Government has failed to address the issue of a fair and proper pricing mechanism for pharmaceutical products in light of the sharply depreciating Sri Lankan Rupee against the US Dollar. “With over […]
Mitra announces strategic plans to expand SL company in 2019 and rapidly growing ASEAN and East African regions
Oct 16, 2018 (LBO) – Mitra Innovation announced its plans for rapid global expansion this week, during their annual leadership and strategy programme in Colombo, Sri lanka. During the conference, the Mitra Innovation founders shared experiences and insights relating to the organisation’s progress during the year 2018. The founders also revealed plans to expand operations […]
‘s growth to recover and remain at 4-pct : World Bank
Oct 16, 2018 (LBO) – Sri Lanka’s economic growth is projected to recover from the effects of last year’s weather disruptions, which negatively affected agriculture, and to remain around 4 percent in the next two years, says the World Bank in its twice-a-year regional economic update. Growth will be robust in most South Asian countries, except […]
SAARC looks to go high tech to boost regional trade : Minister
Oct 15, 2018 (LBO) – Despite low trade within the region, there is potential for using information and communication technologies to contribute to social and economic progress across South Asian countries, Minister of Industry and Commerce said. “Despite the challenges, the e-commerce and related sectors in the South Asian countries offer huge business and investment […]
FMO supports Nations Trust Bank’s growth and drives job creation in Sri Lanka
Oct. 15, 2018 (LBO) – FMO, a Dutch Development Bank recently arranged a US 50 million dollar syndicated loan for Nations Trust Bank (NTB) in Sri Lanka. The loan supports further growth in Nations Trust Bank’s business banking activities which, for a number of years,has been strategically geared more towards small and medium enterprises and […]