Business
Sri Lanka budget deficit decreased by Rs. 487 bn in first 10 months of 2024

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.
Business
Dr RAD Jeewantha named most innovative dentist of the year

Dr. R. A. D. Jeewantha was honoured as the Most Innovative Dentist of the Year at the Business World International Awards, 2025. Organised by the Business World International Organisation, the award ceremony was held recently at the Mount Lavinia Hotel. A graduate of the Faculty of Dental Sciences, University of Peradeniya, Dr. Jeewantha has built a reputation as one of Sri Lanka’s most respected and forward-thinking dental surgeons. After gaining vital experience in Government hospitals, including the Teaching Hospital in Karapitiya, he also served at a leading private hospital before launching his own practice—Doctor J Premium Dental Care in Delkanda, Nugegoda.
His dental clinic is known for offering advanced, patient-focused treatments in restorative dentistry, cosmetic procedures, and implantology, using state-of-the-art technology. Dr. Jeewantha is especially skilled in dental implants, having completed the American Residency Course in Dental Implantology at Roseman University, accredited by the American Academy of Implant Dentistry. Dr. Jeewantha holds fellowships from the International College of Continuing Dental Education (FICCDE) and the Pierre Fauchard Academy (USA). His advanced skills include modern root canal treatments using Mineral Trioxide Aggregate (MTA) for both surgical and non-surgical procedures.
He has completed international trainings in digital dentistry, full-arch implantology techniques like All-on-Four and Zygomatic Systems, and smile design using digital 3D scans. He has participated in global dental events such as the Asia-Pacific Dental Congress and completed training at institutions including the University of Manchester and North Western State Medical University in Russia. His courses have covered everything from intraoral scanning to managing tooth wear. He has previously received many local and international awards. Dr. Jeewantha also serves the community as a Justice of the Peace for All Island.
Business
IIHS Foundation in Biological Studies offers fast-track route to global health careers

The Foundation in Biological Studies at IIHS provides a unique alternative for students looking to fast-track their health careers after their Ordinary Level (O/L) exams. This programme offers a direct route to global health careers, bypassing traditional A/Ls. With over 1,000 students already advancing to universities in Australia, the UK, and Finland, IIHS has positioned the course as a reliable launchpad for careers in fields like medicine, nursing, biomedical sciences, and digital health. “This programme is a game-changer, offering a transformative journey into global healthcare education,” said IIHS CEO Dr. Kithsiri Edirisinghe.
Business
Seylan Bank Reports Strong Growth in Q1 2025 Financials

Seylan Bank has recorded a Profit before Tax (PBT) of LKR 4,199 million in Q1 2025, marking a 13.36% growth compared to LKR 3,704 million in Q1 2024. Profit after Tax (PAT) rose by 20.29%, reaching LKR 2,761 million, up from LKR 2,295 million in the corresponding period of 2024.
Despite a decrease in net interest income by 8.37% due to market interest rate reductions, the bank’s net fee-based income grew by 13.83%, driven by fees from loans, cards, remittances, and other services. Total operating income for the quarter was LKR 11,258 million, a 3.83% decrease from the previous year, while operating expenses rose by 4.62%, largely due to increased personnel and other operating costs.
Impairment charges were significantly reduced by 83.17%, totaling LKR 262 million, reflecting the bank’s solid credit quality and proactive provisions. The bank’s impaired loan ratio improved to 1.98% from 2.10% in Q1 2024, with a provision cover ratio of 80.74%.
Seylan Bank’s total assets grew to LKR 785 billion, with loans and advances reaching LKR 469 billion and deposits totaling LKR 647 billion. The bank’s capital adequacy ratios remained strong, with the Common Equity Tier 1 Capital Ratio at 13.67% and Total Capital Ratio at 17.64%.
In addition to its financial performance, Seylan Bank continued its commitment to education, opening 16 more “Seylan Pahasara Libraries,” bringing the total to 281 libraries across the island.Fitch Ratings upgraded Seylan Bank’s National Long-Term Rating to ‘A+(lka)’ with a Stable Outlook in January 2025, further underscoring the bank’s financial stability and growth trajectory.
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