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Business of "Swarnamahal Financial Services PLC" suspended by CBSL - Hiru News - Srilanka's Number One News Portal, Most visited website in Sri Lanka


Monday, 12 April 2021 - 19:17
The Monetary Board of the Central Bank of Sri Lanka (Monetary Board) has decided to suspend business of Swarnamahal Financial Services PLC (SFSP), in terms of Section 31(1) of the Finance Business Act, No. 42 of 2011 (FBA) with effect from 5:00 p.m. on 12th April 2021.
Having considered the continuously deteriorating financial condition and non-availability of a viable revival plan, the Monetary Board decided to suspend the business of SFSP and its parent Company ETI Finance Limited (ETIF) in terms of Section 31(1) of the FBA with effect from 13th July 2020 and the period of suspension of business activities was in effect until 12th January 2021. ....

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Pakistan calls for enhanced support to overcome socioe-conomic challenges


Business
April 6, 2021
ISLAMABAD: Pakistan on Monday called for enhanced support of international community to fight against the socioeconomic challenges in time of pandemic during a World Bank Group meeting on human capital ministerial conclave.
Representing Pakistan at the virtual meeting, Minister for Economic Affairs Khusro Bakhtyar said additional financial resources would help to create fiscal space to invest more in human capital.
Pakistan is one of the first early adopters of human capital project, said Bakhtyar. Foreign countries and financial institutions have poured in millions of dollars as financial assistances to Pakistan to help the country offset the impact of the pandemic lockdown on the economy and its health implications. ....

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upGrad records an Annual Revenue Run Rate of INR 1200 Crore; Clocks INR 100 Crore monthly revenue in March


upGrad records an Annual Revenue Run Rate of INR 1200 Crore; Clocks INR 100 Crore monthly revenue in March
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upGrad records an Annual Revenue Run Rate of INR 1200 Crore; Clocks INR 100 Crore monthly revenue in MarchMediawire
Last Updated: Apr 06, 2021, 09:30 AM IST
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Mumbai, April 6th, 2021
: upGrad, South Asia’s largest higher edtech, today announced that it has
crossed the milestone of INR 100 Crore a month and achieved an Annual Revenue Run rate (ARR) of INR 1200 Crore. The edtech major now
targets 25% revenue growth in the next quarter (April-May-June) with profitability in sight.
Ronnie Screwvala said,
“It’s been a tough Covid year. I know many have said 2020 was a break-out year for edtech, but on the contrary, I can clearly see Higher Education hitting its massive inflection point once the pandemic settles down. Most of us are wondering what will ‘change’ post the pandemic, but at upGrad we are building on what ....

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Ronnie Screwvala's upGrad breaches Rs 1,200-crore annual revenue rate


By tripling down on its course offerings, scaling university partnerships, and putting together a crack team in India and across the globe, Ronnie Screwvala-founded higher education start-up upGrad has achieved an annual revenue rate (ARR) of Rs 1,200 crore for the financial year 2020-21 (FY21).
The start-up, which saw a 100 per cent revenue growth last year, is now targeting 150 per cent revenue growth in 2021 with profitability in sight. The company clocked revenue of Rs 100 crore in the month of March 2021. “We will break even in the coming quarter, with growth coming from the core business, which includes upskilling working professionals, giving a push to undergraduate degrees, as well as collaborations with Indian and foreign universities,” said Screwvala. ....

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