Tag: lbo
CCPI based headline inflation eases in February 2023: Food inflation down to 54.4-pct
Headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2021=100)1 decreased to 50.6% in February 2023 from 51.7% in January 2023. The decline in the headline inflation is broadly in line with the disinflation path envisaged by the Central Bank of Sri Lanka (CBSL) in January 2023. The […]
Doc990 introduces digital health services via Amazon’s alexa
Introducing the next frontier for conveniently accessing healthcare services from home, Doc990, Sri Lanka’s pioneering digital health solutions service provider, powered by Dialog Axiata PLC, extended Amazon Alexa Voice Command Support for digital health services for the first time in Sri Lanka.This new feature enables customers to easily access the Doc990 services with simple voice […]
Sri Lanka’s crisis offers an opportunity to reset its development model
By Martin Raiser, Vice President for the South Asia Region, World Bank Group Sri Lanka is at a critical moment in its history. Years of economic mismanagement, weak governance, poor policy choices, and the impacts of external shocks such as the COVID-19 pandemic and the Russian invasion of Ukraine, plunged the country into its worst-ever crisis in […]
Delmege Forsyth launch new energy saving LED bulb
Delmege Forsyth & Co Ltd, launched its newest product from its ever-increasing product portfolio in the form of a range of high quality LED bulbs. The acronym LED is derived from Light Emitting Diodes which is known to produce a light with an electrical current passing through a microchip. The significance of the LED bulb […]
PCCW Ltd announces Mohamed Sharhan Mohamed Muhseen as new independent non-executive director
The board of directors (the “Board”) of PCCW Limited (the “Company”) is pleased to announce that Mohamed Sharhan Mohamed Muhseen has been appointed as an Independent Non-Executive Director of the Company with effect from 24 February 2023. Aged 47, he is a senior investment banker with extensive experience in areas of mergers and acquisitions, corporate […]
Norfund to support development of Hela Apparel Holdings’ East African operations with USD 14Mn investment
Norfund, the Norwegian government’s investment fund, with a mission to support sustainably driven business operations in developing countries, recently signed a USD 14 million financing agreement with Hela Apparel Holdings PLC to bolster the development of its manufacturing operations in East Africa. NDB Investment Bank Limited acted as the Financial Advisor for the transaction. […]
ComBank Group consistent with solid topline growth in 2022, increases provisioning
Income grows 71% to Rs 280.4 Bn. for the year and 94% to Rs 84.8 Bn. in Q4 Record impairment provisioning for the year – up 186% to Rs 71.9 Bn.; Rs 46.8 Bn. increase for 2022 for US$ denominated Government Securities and Stage 2 & 3 loans Assets approach Rs 2.5 […]
Over 1.2Mn orders were influenced by Daraz Live campaigns and streams in 2022
Daraz Group, South Asia’s leading e-commerce platform, released the inaugural report on Daraz Live selling in South Asia. The report indicated that live commerce, a combination of live streaming and sales is one of the fastest-growing platforms for raising awareness for brands and sellers alike. The report looks at Daraz Live’s performance over twelve months […]
SL Retail Ass President stresses need for regulatory and policy overhaul to ensure industry’s future
The Sri Lanka Retail Forum (SLRF) 2023 conducted by the Sri Lanka Retailers Association (SLRA) on 1st March, 2023, will address many of the pressing challenges currently faced by the industry, and explore proven strategies and vital avenues to explore to ensure stability and sustainability for the industry, SLRA President Murali Prakash stated. Against a […]
Pan Asia Bank reports profit of Rs. 2Bn in 2022: Report
Total Assets touch Rs. 208 billion, up by 10% Customer deposit base reaches Rs. 162 billion, up by 11% Profit after tax for the year stood at Rs. 2 billion The Bank maintains a Net Interest Margin of 4.70% The Bank reports a decent Return on Equity of 10.58% and Post Tax Return on Assets […]
Govt expects investment to flow but country risk remain unresolved: Eran
We are talking on two Regulations under the Port City Really to get this country out of the current economic mess we know we have a debt crisis and looking for more debt but not forthcoming due to the fault of governance without implementing rule of law said Eran Wickramaratne speaking in the parliamentary debate […]
CSE enables REPO transactions between eligible investors operating through same trading participant
The Colombo Stock Exchange (CSE) announces the amendment of Trading Rules on the Over the Counter (OTC) Platform, where Repurchase (REPO) transactions in Corporate Debt Securities would be permitted between two (2) eligible investors operating through the same Trading Participant. The amended rules have been approved by the Securities and Exchange Commission of Sri Lanka […]