*Softlogic Stockbrokers* *News Alert –06th February 2025* *Tourism industry records best-ever January arrivals* • Welcomes 252,761 visitors, surpassing previous high of 238,924 tourists in 2018 • Records 21.4% YoY increase compared to 2024, 6% compared to January 2018 • Daily average arrivals pick up to 8,154 from 6,718 in January 2024 • Misses ambitious 305,687 monthly target by 52,926 visitors • India, Russia and UK emerge as top source markets https://www.ft.lk/front-page/Tourism-industry-records-best-ever-January-arrivals/44-772712 *Sri Lanka moves closer to finalising debt restructuring with Japan* Sri Lanka has taken a major step towards finalising its debt restructuring process with Japan, with the Cabinet of Ministers on Monday approving the signing of exchange notes and an amended agreement with the Japan International Cooperation Agency (JICA). https://www.ft.lk/front-page/Sri-Lanka-moves-closer-to-finalising-debt-restructuring-with-Japan/44-772707 *Govt. to fast-track long-delayed IP amendments for Madrid Protocol accession* The government has decided to present the long-delayed amendments to Intellectual Property Act No. 36 of 2003, to access the protocol relating to the Madrid Agreement that is administered by the World Intellectual Property Organisation (WIPO). https://www.dailymirror.lk/business-news/Govt-to-fast-track-long-delayed-IP-amendments-for-Madrid-Protocol-accession/273-301754 *Develop bankable business models to attract DPI investment: Dr. Hans* Sri Lanka must focus on developing bankable business models to attract global investment that would help improve its digital public infrastructure, according to Chief Advisor to President on Digital Economy Dr. Hans Wijeyasuriya. https://www.dailymirror.lk/business-news/Develop-bankable-business-models-to-attract-DPI-investment-Dr-Hans/273-301753 *PA welcomes move to defer SVAT removal* While commending the move to defer the removal of SVAT, The Planters’ Association of Ceylon (PA) said that smallholders and all growers will have to forego an additional 18% off their cost of production. https://www.themorning.lk/articles/pxixSTQFlRfaKqOqMozp *India’s top lube brand Hindustan Petroleum Lubricants arrives in Sri Lanka with Sea World Lanka* • Hindustan Petroleum Lubricants markets more than 450 grades of lubricants/greases and caters to many global auto OEMs • To offer full range of premium and world class automotive, industrial and marine lubricants and specialty products https://www.ft.lk/business/India-s-top-lube-brand-Hindustan-Petroleum-Lubricants-arrives-in-Sri-Lanka-with-Sea-World-Lanka/34-772721 *People’s Bank records Rs. 25.3 b PAT in 2024* People’s Bank has recorded a 150% increase in its profit-after-tax (PAT) in 2024, recording Rs. 25.3 billion as opposed to Rs. 10.1 billion recorded in 2023, the Ministry of Finance said. https://www.themorning.lk/articles/4Cdhdi63c2xj71w1R0Sj _Softlogic Research_