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Last Updated = Fri, Jul 3, 2015, 01:13 am SL Time

* Bangladesh delegation to brief Sri Lankan investors on prospects in their EPZs

July 02 (CP) Colombo- In an initiative to attract Foreign Direct Investment (FDI) to the country, a delegation of Bangladesh Export Processing Zones Authority (BEPZA) is expected to visit Sri Lanka in the first week of August 2015.
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* airberlin and NIKI to operate flights to Colombo in codeshare with Sri Lankan Airlines

July 02 (CP) Colombo- SriLankan Airlines, the national airline of Sri Lanka, is the new codeshare partner of airberlin and NIKI. The three airlines are to operate daily codeshare flights between Germany, Austria and Sri Lanka via Abu Dhabi, which can be booked as of now.
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* Sri Lanka regulator bans Lanka Rating from issuing credit ratings

July 01 (CP) Colombo- Sri Lanka's capital market regulator, Securities and Exchange Commission (SEC) has said that Lanka Rating Agency Limited (LRA), one of the three credit rating agencies in Sri Lanka is not entitled in law, to carry on business as a Credit Rating Agency nor review ratings.
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* Sri Lanka suspends fuel contracts worth millions

July 02 (Reuters) SINGAPORE/COLOMBO- Sri Lanka's state-owned Ceylon Petroleum Corp (Ceypetco) has suspended oil contracts worth millions of dollars that were signed last year for fuel deliveries, the company chairman told Reuters on Thursday.
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* Govt. won’t stop foreign borrowings

July 02 (Island) Central Bank Governor Arjuna Mahendran yesterday said that it would be in Sri Lanka’s economic interests to continue with government borrowings both onshore and offshore, in order to preserve the continued momentum of economic growth
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* Softlogic Finance positions for greater growth in Jaffna

July 01 (Island) Demonstrating its commitment to Jaffna and positioning itself to tap greater into the potential of the business boom in the area, Softlogic Finance PLC has considerably strengthened its presence in the Jaffna peninsula.
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* Banks under pressure with LCR, NSFR regulations

July 01 (DN) The introduction of the Liquidity Coverage Ratio (LCR) and Net Stable Funding Ratio (NSFR) under Basel III is likely to put pressure on bank capacity to take high risks and improve margins, Asia Securities,Senior Analyst, Srimal Liyanage said.
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* Sri Lanka power monopoly makes profits of Rs. 13.7 billion in first quarter of 2015

July 02 (CP) Colombo- Sri Lanka's state owned power monopoly Ceylon Electricity Board (CEB) is one of the few State enterprises that made profit in the first four months of this year, according to a government report.
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* Sri Lanka aims to reach US$ 12.5 billion export revenue this yea

July 02 (CP) Colombo- Sri Lanka Export Development Board (EDB) Chairman and CEO Bandula Egodage said Sri Lanka should strive to reach the US$ 50 billion export revenue target by 2050. While admitting the target was challenging, Egodage said nevertheless it is feasible.
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* Sri Lanka's income at Kunming Fair in China surpasses $ 2 million

July 01 (CP) Colombo- Sri Lankan biz, facilitated by Export development Board (EDB), performed strongly at the recent 23rd China Import & Export Fair held in Kunming, China earning an income surpassing $2 million.
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* Sri Lanka shares fall below key barrier; banks lead

July 02 (Reuters) Sri Lankan shares ended at a 2-1/2 month low on Thursday, falling below a key psychological barrier of 7,000 points, led by banks and telecommunication shares as political uncertainty ahead of parliamentary elections weighed on sentiment.
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* Access Engineering ventures into property development

July 02 (DN) Access Engineering PLC (AEL) has invested 100% and 50% of the ordinary shares of Horizon Holdings Ventures and Horizon Holdings for a consideration of Rs 273.6 million and Rs 250 million.
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* Micro Cars begins local assembly of crossover SUV SsangYong Tivoli 2015-07-01 12:06:02

July 01 (DM) Local automobile manufacturer and assembler Micro Cars yesterday began the local assembly of the Korean crossover SUV SsangYong Tivoli, to coincide with the 20th anniversary of the parent, Micro Holdings (Pvt) Ltd.
[Full Story]

* Former Deputy Minister in scathing allegation on Treasury Bond scandal Cabraal, Wijewardena drafted COPE report

July 01 (CT) Former Deputy Justice Minister and Colombo District UNP MP Sujeewa Senasinghe, in a scathing attack, has alleged that former Central Bank Governor Ajit Nivard Cabraal and Deputy Governor W.A. Wijewardena had drafted the contents of the COPE report on the now infamous Treasury Bond scandal.
[Full Story]

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