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Last Updated = Thu, Apr 23, 2015, 01:40 pm SL Time

* Sri Lanka Tourism to focus on $2 billion whale watching business

Apr 23 (CP) Colombo- The whale watching business is worth $2 billion but unfortunately successive policy makers have not focused on the development of this market just like the cruise business, Chairman of Sri Lanka Tourism Promotions Bureau Rohantha Athukorala has said.
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* Sri Lanka c.bank head resumes duty after bond probe report

Apr 23 (Reuters) Sri Lanka's central bank Governor Arjuna Mahendran has resumed his duties after a more than five-week voluntary leave of absence after being cleared by a panel investigating a controversial government bond auction.
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* Union Bank posts strong Q1 results

Apr 23 (DN) Union Bank’s first quarter results in 2015 have been very positive, which is a clear reflection of the new strategy that is in place. Subsequent to the change in strategy, the Bank’s rapid transition to a fully fledged commercial Bank with wider focus on Retail, SME and Corporate sectors saw several key changes.
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* Kerala to work with Sri Lanka on tourism

Apr 23 (Manorama) Thiruvananthapuram: Sri Lanka and Kerala are to collaborate in the tourism sector. In addition to developing existing tourist locations, the move would also seek to enhance the flow of tourists to the two destinations.
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* Lanka Challenge - The World's Greatest Tuk Tuk Charity Challenge in September

Apr 22 (CP) Colombo- Large minority Travel, the leading provider of adventure charity challenges, will be running the 7th edition of the Lanka Challenge from 4th to 14th September 2015.
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* Fitch Affirms Sri Lanka at 'BB-'; Outlook Stable

Apr 22 (CP) Colombo- Fitch Ratings has affirmed Sri Lanka's Long-Term Foreign and Local Currency Issuer Default Ratings at 'BB-'. The issue ratings on Sri Lanka's senior unsecured foreign and local currency bonds are also affirmed at 'BB-'.
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* Australian cruise travelers visit Sri Lanka's Pinnawala elephant orphanage

Apr 22 (CP) Colombo- The new direction of the Sri Lanka tourism promotions bureau is generating strong results with a strong working relationship with the private sector as 441Australia cruise travelers taking a one day excursion to Pinnawala elephant orphanage last Sunday.
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* Sri Lanka shares close at 6-week high; financials lead

Apr 22 (Reuters) Sri Lankan shares closed at their highest in more than a month on Wednesday, led by financials on hopes of better earnings, with positive sentiment continuing due to lower interest rates, dealers said.
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* Italo Lanka wins contract to supply Litro Gas cylinders

Apr 22 (DN) For the first time in Sri Lanka, a local company will manufacture gas cylinders for local companies. A purchasing contract will be signed with Litro Gas Company this week.
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* GIIN lists Sri Lanka’s private equity, development finance constraints

Apr 22 (DM) A report by the Global Impact Investment Network (GIIN), a world leading body promoting impact investments, has found that even though an equally high number of private equity (PE) and developmental funds are operating in Sri Lanka with respect to India, the amount invested is small due to the size of the country and lack of state support.
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* Indian PM permits RBI to enter into Currency Swap Arrangement with Sri Lanka

Apr 23 (CP) New Delhi- The Union Cabinet chaired by the Prime Minister, Narendra Modi, Wednesday gave its ex-post-facto approval for Reserve Bank of India (RBI) entering into an agreement with the Central Bank of Sri Lanka for extending US$ 1.1 billion as a special /ad-hoc swap outside the Framework on Currency Swap Arrangement for SAARC Member Countries.
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* Security companies facing ‘severe manpower shortages’

Apr 23 (Island) ‘Security companies in Sri Lanka are suffering severe manpower shortages this year in particular’ as a result of two holiday seasons, Avurudu and Vesak, coming close on the heels of each other.
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* Video: Investors wait for economic reform in Sri Lanka

Apr 23 (BBC) Sri Lanka voted in a new president in January who promised to clean up a business environment plagued by allegations of corruption and cronyism. Maithripala Sirisena took power in January, but is finding it tough to push through reform.
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* Sri Lanka’s Fitch withdraws national long term rating on DSI Holdings

Apr 23 (LBO) Sri Lanka’s Fitch Ratings has withdrawn DSI Holding's national long-term rating of 'BBB(lka)' with a stable outlook. Issuing a statement Fitch said the withdrawal follows the amalgamation of DSI Holdings with its ultimate parent, DSI Samson Group (Private) Limited.
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* Sri Lanka focused on a strong investment and trade relationship with China - BOI

Apr 22 (CP) Colombo- Sri Lanka is increasingly focused on a strong investment and trade relationship with China, the Executive Director of Sri Lanka's Board of Investment (BOI) said Tuesday (21).
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* Sri Lanka Cruise Tourism doubles - Global Marketing push locked

Apr 22 (CP) Colombo- The cruise travel business better known as the 'floating marine resorts of the world' that attracts the most wealthy globally has doubled in business for Sri Lanka with 14 cruise liners calling the country in 2012/13 registering visitor arrivals of 19,615 cruise travelers.
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* Centara Ceysands Resort & Spa Sri Lanka takes top honors at HICSA's 'Hotel of The Year' awards

Apr 22 (CP) Colombo- Centara Ceysands Resort & Spa Sri Lanka has just been recognized as "Best new Hotel of the year - Luxury/Upper Segment " for 2015, at the HICSA's 'Hotels of the Year Awards'. The honor came as part of HVS's 11th Annual Hotel Investment Conference, convened in New Delhi during April 7- 8th.
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* Sri Lanka’s business chamber urges political parties to support delayed 19th amendment

Apr 22 (LBO) Sri Lanka should take advantage of the multi-party government to strengthen constitutional governance in the country and pave the way to improve the business climate in the country to attract investment, both local and foreign, a statement said.
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* SLT notches Rs. 65bn revenue for 2014

Apr 22 (Island) Sri Lanka’s major telecommunications provider Sri Lanka Telecom (SLT) has recorded a Rs.65.04 billion revenue for the year 2014 which is an 8% increase from the previous year.
[Full Story]

* Bajaj Auto to change quadricycle strategy; plans to export product to Sri Lanka, Egypt

Apr 22 (TOI) MUMBAI- Even as its yet to be launched quadricycle that will compete with autorickshaws, faces a slew of legal challenges in India, Bajaj Auto, after a three-year wait has decided to shift focus to export the four-wheeler passenger vehicle to traditional export strongholds such as Sri Lanka,Egypt and Nigeria.
[Full Story]

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