During the period from January to October 2024, overall budget deficit decreased to Rs. 1,060.7 bn compared to Rs. 1,547 bn recorded in the corresponding period of 2023, the Weekly Economic Indicators report of the Central Bank states.

“Outstanding central government debt decreased to Rs. 28,574.7 bn by end September of 2024 from Rs. 28,695.9 bn as at end 2023. By the end of September 2024, total outstanding domestic debt amounted to Rs. 17,595.1 bn while the value of total outstanding foreign debt amounted to Rs. 10,979.6 bn,” it notes.

“During the week, T-Bill yield rates declined in both primary and secondary markets, while T-Bond yields also indicated a reduction in the secondary market. The rupee value of T-Bills and T-Bonds held by foreign investors increased by 4 per cent during the reporting week. The T-Bill auction held during the reporting week was oversubscribed by 2.1 times. A decrease of 23.8 per cent was observed in the total volume of secondary market transactions in T-Bills and T-Bonds in the reporting week compared to the week before.”

“During the year up to 27th December 2024, the Sri Lanka rupee appreciated against the US dollar by 10.1 per cent.”

“Meanwhile, on year-on-year basis, National Consumer Price Index based headline inflation remained in the negative territory for the third consecutive month, recording a deflation of 1.7 per cent in November 2024 compared to the deflation of 0.7 per cent in October 2024. Prices of the items in the Food category, on year-on-year basis, remained unchanged in November 2024. Meanwhile, Non-Food category recorded a deflation of 3.1 per cent in November 2024. Further, the NCPI based core inflation decelerated further to 1.5 per cent in November 2024 from 1.7 per cent in October 2024.”

“Weekly Average Weighted Prime Lending Rate (AWPR) for the week ending 27th December 2024 decreased by 34 bps to 9.06 per cent compared to the previous week.”

“The reserve money increased compared to the previous week mainly due to increase in the currency in circulation and deposits held by the commercial banks with Central Bank. The total outstanding market liquidity was a surplus of Rs. 148.272 bn by 27th December 2024, compared to a surplus of Rs. 136.147 bn by the end of the last week.”

“During the ten months ending October 2024, government revenue and grants increased to Rs. 3,266.9 bn compared to Rs. 2,434.0 bn in the corresponding period of 2023.”

“Total expenditure and net lending increased to Rs. 4,327.7 bn from January to October 2024 compared to Rs. 3,981.1 bn in the corresponding period,” the reports states.

Aitken Spence Travels walked away with the coveted title of Best Travel Agent Inbound – Large Category, Best Cruise Lines Operator and Best Professional MICE Organizer at the recently concluded Sri Lanka Tourism Awards 2024 organized by the Sri Lanka Tourism Development Authority.

These accolades underline Aitken Spence Travels’ leadership and commitment to the continuous development of the tourism sector. They highlight the company’s dedication to destination marketing, innovation, best practices, and its significant contributions to uplifting industry standards and driving growth of Sri Lanka’s tourism industry. As the Best Travel Agent in the large category, Aitken Spence Travels exemplifies excellence. Furthermore, the company leads the way in cruise line operations, accounting for over 65% of the market and setting the standards for Sri Lanka as a premier multiport destination. Solidifying its strength, Aitken Spence Travels was also recognized as the Best Professional MICE Organizer.

The judging criteria encompassed a broad spectrum of key performance areas, including audited financial performance, corporate social responsibility initiatives, environmental stewardship, business and marketing strategies, customer care, human resource management, and sustainability practices. A distinguished panel of industry experts and esteemed corporate professionals were involved in the selection process where the participating companies were required to submit a comprehensive written application, certified audited accounts and deliver a presentation before the judging panel.

Commenting on the achievement, Nalin Jayasundera Managing Director of Aitken Spence Travels stated, “Our unparalleled contribution has enabled us to serve over 234,976 happy visitors beyond boundaries during FY 23/24. We were the largest room inventory buyer during this period, purchasing the highest number of room nights and helping to keep the wheels of the nation’s tourism industry turning by working closely with transport, accommodation providers, and other suppliers. Furthermore, we have been the largest contributor to the Tourism Development Levy (TDL) and have significantly contributed to the growth of foreign exchange from the tourism sector.

Stasshani Jayawardena, Head of the Tourism Sector for Aitken Spence PLC commented, “We are immensely grateful to our joint venture partner, TUI (the world’s largest integrated tourism company), led by TUI Travel PLC Sebastian Ebel, for their continued unwavering support. Furthermore, we sincerely thank our Chairman D. H. S. Jayawardena and Board of Directors for their invaluable guidance and confidence in our vision for sustainable growth.”

Both, Stasshani Jayawardena and Nalin Jayasundera expressed their gratitude and thanks to their staff at Aitken Spence Travels for their relentless commitment and unwavering professionalism in delivering excellence every day. Furthermore, extended their heartfelt thanks to the valued stakeholders – including trusted tour operators, hotel partners, and numerous suppliers – whose continued support and partnership have been integral to our success.

It is important to acknowledge that Aitken Spence Travels played a crucial role in reviving the tourism industry after the pandemic and economic crisis. The company led the way by tapping into emerging and new markets whilst traditional markets were underperforming and not generating visitors.

Annual awards and recognition serve as a means to appreciate the efforts of tourism stakeholders. Aitken Spence travels is truly grateful to Sri Lanka Tourism for organizing the Tourism Awards, which, as announced during the ceremony, will henceforth be an annual event.

With this monumental accomplishment, Aitken Spence Travels solidifies its position as an exemplary industry leader in Sri Lanka’s tourism sector. The company remains a leader in the organized tourism sector providing unparalleled travel experiences and elevating Sri Lanka’s position as a leading global travel destination.

Ambeon Holdings PLC, a diversified conglomerate with a strong presence across multiple sectors, continues to strengthen its position in Sri Lanka’s financial services industry through strategic investments. Recently, the company increased its stake in Seylan Bank PLC by 0.98%, bringing its total holding to 8.61% of the bank’s ordinary voting shares. This move underscores Ambeon’s growing influence in the financial sector, complementing the recent acquisition of a 9.02% stake in DFCC Bank PLC by Ambeon Capital PLC and its subsidiaries.

These investments reflect Ambeon Group’s focused strategy to expand its footprint in the banking and financial services sector in Sri Lanka, which is a key pillar of the nation’s economic landscape. The company’s overarching strategy involves diversifying its investments across high-growth industries while reinforcing its leadership in its current sectors.

Ambeon’s diverse portfolio spans sectors such as financial services, real estate, technology, and manufacturing, and it has a notable presence in both local and international markets. With its strategic investments, Ambeon Holdings PLC is well-positioned to remain a key player in Sri Lanka’s economic development, strengthening its influence across both traditional and emerging sectors.

Ambeon Holdings PLC, a subsidiary of Ambeon Capital PLC, is strategically expanding its presence in high-growth sectors through a series of targeted investments. The company’s diverse portfolio across multiple industries demonstrates its broad investment approach and commitment to capitalizing on market opportunities for long-term growth.