*ACS Capital Research* *News Alert 18.02.2025* *Budget keeps CSE up; Rs. 775 m net foreign inflow* The Colombo stock market gained by over 1% yesterday, boosted by what investors saw as a positive Budget presented by President and Finance Minister Anura Kumara Dissanayake. The benchmark ASPI gained by 1.3% and the active S&P SL20 by 1.4%. Source:https://www.ft.lk/front-page/Budget-keeps-CSE-up-Rs-775-m-net-foreign-inflow/44-773166 *State entities to be pushed to raise funds from capital markets* Efforts will be rolled out to actively encourage the appropriate state entities to raise funds from capital markets. Source:https://www.dailymirror.lk/business-news/State-entities-to-be-pushed-to-raise-funds-from-capital-markets/273-302589 *Budget 2025 aims to balance fiscal discipline and economic revival* Sri Lanka yesterday introduced a national budget aimed at balancing fiscal discipline with economic revival, while addressing the gap between the struggling households and long-term growth ambitions. Source:https://www.dailymirror.lk/business-main/Budget-2025-aims-to-balance-fiscal-discipline-and-economic-revival/245-302590 *GDP to grow by 5%: President* President Anura Kumara Dissanayake says that Sri Lanka’s economy is expected to grow approximately by 5% this year. Source:https://www.themorning.lk/articles/5jdoTijhaMLnL5esgsLq *PMI Manufacturing and Services indices indicate expansions in January 2025* Sri Lanka Purchasing Managers’ Index for Manufacturing (PMI – Manufacturing) recorded an index value of 59.0 in January 2025, indicating a further expansion in manufacturing activities, the Central Bank said yesterday. Source:https://www.dailymirror.lk/business-news/PMI-Manufacturing-and-Services-indices-indicate-expansions-in-January-2025/273-302578 *Tourism focus to shift from mere arrival numbers to maximising visitor spending* Sri Lanka is setting the stage for faster and inclusive tourism growth, as it is shifting its focus from mere arrival numbers to maximising visitor spending and experience. Source:https://www.dailymirror.lk/business-news/Tourism-focus-to-shift-from-mere-arrival-numbers-to-maximising-visitor-spending/273-302588 *Pan Asia Bank posts PAT of over 4.1 bn for FY 2024* Pan Asia Banking Corporation PLC reported an impressive financial performance for the year ended 31st December 2024 amidst diverse challenges emerging from the gradually reviving but challenging macro-economic environment. In financial terms, the Bank witnessed a stellar year of growth and profitability, with an increase in Profit After Tax (PAT) of 123% and Profit Before Tax (PBT) soaring by more than 159%. Source:https://www.dailynews.lk/2025/02/18/business/725587/pan-asia-bank-posts-pat-of-over-4-1-bn-for-fy-2024/ *Dialog records strong FY 2024, Core Revenue growth up 10% to Rs. 151.3 Bn, EBITDA Rs. 66.3 Bn* Dialog Axiata PLC including Dialog Axiata Group delivered a strong performance across Mobile, Fixed Line, Digital Pay Television and Tele infrastructure businesses recording a positive core Revenue growth of 10% Year to Date (“YTD”). Source:https://www.dailynews.lk/2025/02/18/business/725577/dialog-records-strong-fy-2024-core-revenue-growth-up-10-to-rs-151-3-bn-ebitda-rs-66-3-bn/