*ACS Capital Research* *News Alert 14.02.2025* *CSE reverts to positive territory* The Colombo stock market yesterday reverted to positive territory after three days of profit taking and bearish sentiments. Source:https://www.ft.lk/front-page/CSE-reverts-to-positive-territory/44-773012 *Govt. to achieve IMF tax targets through budget* Sri Lanka will achieve the tax targets of the International Monetary Fund (IMF) through budget 2025, while the government will have to balance relief for people, Bloomberg Economics said. Source:https://www.themorning.lk/articles/gCcE0Y1GD1rNspIJVgdY *ADB reaffirms commitment to Sri Lanka with $ 900 m investment pipeline for 2025* The Asian Development Bank (ADB) yesterday reinforced its commitment to Sri Lanka’s economic recovery, outlining an ambitious $ 900 million investment pipeline for 2025. Source:https://www.ft.lk/front-page/ADB-reaffirms-commitment-to-Sri-Lanka-with-900-m-investment-pipeline-for-2025/44-773015 *Sri Lanka, UAE ink investment protection agreement to boost economic ties* Sri Lanka and the United Arab Emirates (UAE) have signed a landmark agreement on the Reciprocal Promotion and Protection of Investments, reinforcing their commitment to deepening economic and investment cooperation. Source:https://www.ft.lk/front-page/Sri-Lanka-UAE-ink-investment-protection-agreement-to-boost-economic-ties/44-773014 *Chinese arrivals pick up during lunar new year* Chinese tourist arrivals in Sri Lanka doubled during the period leading up to and during the first week of the Chinese Lunar New Year with 19,809 arrivals, statistics from the Sri Lanka Tourism Development Authority shows. Source:https://www.themorning.lk/articles/7qc5G7FNvYF0Ud1dl6Qt *CIC Holdings achieves Rs. 64.6 b revenue with resilient sectoral growth in 9MFY25* Agriculture-rich diversified conglomerate CIC Holdings PLC has recorded a consolidated revenue of Rs. 64.66 billion for the nine months ending 31 December 2024 (9MFY25), an increase of 7.49% YoY compared to the corresponding period of last year. Source:https://www.ft.lk/front-page/CIC-Holdings-achieves-Rs-64-6-b-revenue-with-resilient-sectoral-growth-in-9MFY25/44-773013 *Richard Pieris Group PBT up by 137% to Rs. 5.4 b in first nine months* Richard Pieris Group, one of Sri Lanka’s largest and most diversified conglomerates, achieved a Profit Before Tax (PBT) of Rs. 5.4 billion during the first nine-month period ending 31 December 2024. The Group recorded a major profit growth of 137% over the corresponding period, demonstrating resilience in the continuity of its strong performance for the financial year of 2024/25. Source:https://www.ft.lk/business/Richard-Pieris-Group-PBT-up-by-137-to-Rs-5-4-b-in-first-nine-months/34-773022 *Sri Lanka PickMe usage surges in December quarter* Profits at Sri Lanka’s Digital Mobility Solutions Lanka Plc grew 38 percent to 292 million rupees in the December 2024 quarter as revenues surged amid higher usage, interim accounts showed. Source:https://economynext.com/sri-lanka-pickme-usage-surges-in-december-quarter-205026/