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Consumer prices still rising rapidly

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CCPI based headline inflation (Y-o-Y) increased to 64.3 per cent in August 2022 from 60.8 per cent in July 2022 due to the monthly increases of prices of items in both Food and Non-food categories, according to Weekly Economic Indicators of the Central Bank.Meanwhile, Food inflation (Y-o-Y) and Non-food inflation (Y-o-Y) recorded at 93.7 per cent and 50.2 per cent, respectively, in August 2022. Furthermore, the CCPI measured on an annual average basis, increased to 28.0 per cent in August 2022 from 23.1 per cent in July 2022.

During the period under review (27.08.2022 to 02.09.2022), crude oil prices were largely on a declining trend. At the beginning of the period, prices increased due to fears of potential OPEC+ output cuts and conflict in Libya. However, prices decreased later, owing to fears that global central banks will continue to raise rates to countering inflationary pressures and on concerns of renewed restrictions to curb COVID-19 in China. Overall, during the period under review, Brent and WTI prices decreased by US dollars 8.07 per barrel and US dollars 6.03 per barrel, respectively.

Weekly AWPR for the week ending 02nd September 2022 remains unchanged at 25.76 per cent compared to the previous week.The reserve money decreased compared to the previous week mainly due to decrease in the currency in circulation.The total outstanding market liquidity was a deficit of Rs. 597.298 bn by the end of this week, compared to a deficit of Rs. 614.942 bn by the end of last week.By 02nd September 2022, the All Share Price Index (ASPI) increased by 5.95 per cent to 9,316.45 points and the S&P SL 20 Index increased by 5.09 per cent to 3,009.61 points, compared to the index values of last week.

During the year up to 02nd September 2022, the Sri Lankan rupee depreciated against the US dollar by 44.5 per cent. Given the cross currency exchange rate movements, the Sri Lankan rupee depreciated against the Indian rupee by 40.6 per cent, the Euro by 37.0 per cent, the pound sterling by 35.2 per cent and the Japanese yen by 32.5 per cent during this period.The gross official reserves were provisionally estimated at US dollars 1,817 mn as at end July 2022, the CBSL report stated.



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Pan Asia Bank’s Rs. 5 b debenture issue oversubscribed

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B D A Perera, Chairman and Naleen Edirisinghe Director/CEO of Pan Asia Bank

Pan Asia Banking Corporation PLC’s Senior Listed Rated Unsecured Redeemable Debenture issue of up to Rs. 5 billion was oversubscribed following its opening reflecting strong investor interest.

The debentures, with a par value of Rs. 100 each, will be listed on the Colombo Stock Exchange (CSE). The three-year debentures offer an interest rate of 12.75% interest payable annually, while the five-year debentures offer 13.50% interest payable annually.

The issue has been assigned a BBB+ (Stable) rating by Lanka Rating Agency.

The debenture issue was managed by the Investment Banking Unit of Commercial Bank of Ceylon PLC, with SSP Corporate Services (Private) Limited serving as the Registrar to the Issue.

The Bank said the strong investor response demonstrates continued confidence in Pan Asia Bank and its approach to creating long-term value for its stakeholders.

Pan Asia Bank, which positions itself as ‘The Truly Sri Lankan Bank’, continues to strengthen its role in supporting the financial requirements of individuals and businesses while contributing to the development of Sri Lanka’s economy.

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SLIIT International and Liverpool John Moores University inaugurate dedicated international learning facility

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Andrew Patrick

The Sri Lanka Institute of Information Technology (SLIIT) and Liverpool John Moores University (LJMU), United Kingdom, recently inaugurated SLIIT International in Collaboration with LJMU, a dedicated international learning facility located at No. 17, Dickmans Road, Colombo 04, marking a significant milestone in a partnership spanning more than a decade and reinforcing their commitment to providing Sri Lankan students with access to internationally recognised UK higher education qualifications.

The Grand Opening Ceremony was attended by Andrew Patrick, British High Commissioner to Sri Lanka, who graced the occasion as Chief Guest, alongside senior representatives from SLIIT, Liverpool John Moores University, the British Council, academia, industry and other stakeholders, marking the next chapter of the longstanding SLIIT–LJMU collaboration. The new facility is particularly significant as Sri Lanka’s first academic facility dedicated exclusively to the delivery of LJMU degree programmes, reflecting the strength, maturity and long-term commitment of the partnership.

Over the past decade, the SLIIT–LJMU partnership has established a growing network of more than 1,500 alumni, while providing Sri Lankan students with opportunities to gain internationally recognised UK qualifications locally. The new dedicated facility has been designed to provide a world-class learning environment exclusively for LJMU programmes, supporting future programme expansion, strengthening the student experience and creating opportunities for deeper academic collaboration, innovation, research and student engagement.

Commenting on the milestone, Prof. Lalith Gamage – Vice-Chancellor, Managing Director and Chief Executive Officer, SLIIT, stated, “The launch of SLIIT International in Collaboration with Liverpool John Moores University represents an important new chapter in our longstanding partnership with Liverpool John Moores University. Our vision is to provide Sri Lankan students with a world-class education and student experience right here in Sri Lanka, while equipping them with the global outlook, critical thinking, professional capabilities and career readiness required to succeed in an increasingly interconnected world. This dedicated facility strengthens the student experience while providing a strong foundation for the continued growth of our collaboration with LJMU.”

Prof. Timothy Nichol, Pro-Vice-Chancellor, Faculty of Society and Culture, Liverpool John Moores University, said, “The opening of Sri Lanka’s first facility dedicated exclusively to LJMU degree programmes represents a significant milestone for the University and our partnership with SLIIT. It reflects the strength of our collaboration and our shared commitment to delivering a high-quality LJMU educational experience in Sri Lanka. The new facility also creates exciting opportunities for deeper academic collaboration, innovation, research and student engagement as we look towards the next phase of our partnership.”

A key highlight of the Grand Opening Ceremony was the panel discussion titled “Beyond Borders: The Role of British Higher Education in Developing Globally Competitive Graduates.” The discussion examined the growth of international educational opportunities in Sri Lanka, the future expansion of UK degree programmes, maintaining the quality and integrity of UK qualifications, developing future-ready graduates with global competencies, and the role of international higher education in strengthening graduate employability. The panel brought together Prof. Lalith Gamage; Prof. Timothy Nichol; Mr. Sajeewa Meepage, Representative of the British Council; and Dr. Harsha Cabral, Board Member of SLIIT.

The panelists further emphasized on emerging trends in areas including law, business, psychology and artificial intelligence, as well as the contribution of UK higher education to Sri Lanka through internationally recognised qualifications that uphold global academic standards.

The discussion explored the history and future of the SLIIT–LJMU partnership, the strategic significance of the new SLIIT International facility, academic quality, graduate employability and the long-term growth of LJMU programmes in Sri Lanka.

The ceremony also featured a special address by Andrew Patrick, British High Commissioner to Sri Lanka, followed by an address by Mrs. Clare Sears, Country Director, British Council Sri Lanka. The evening also included the ceremonial exchange of the partnership document between SLIIT International and Liverpool John Moores University, symbolising the continued commitment of both institutions to strengthening their collaboration and expanding international educational opportunities for Sri Lankan students.

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Dijital Team and WinSYS City University launch two-year partnership

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Ziyam Abdeen, Chairman of WinSYS, and Peter Ward, Managing Director of Dijital Team, at the signing ceremony for the two-year partnership

Dijital Team has signed a two-year partnership with Winsys City University, strengthening the skills and capabilities of its team members to support Managed Service Providers and IT service providers while elevating tech talent to immediate industry-readiness. With a Memorandum of Understanding (MOU) signed recently, the partnership was formally launched on 9 September 2026 at Dijital Team’s office premises, Colombo.

Combining Dijital Teams’ international employer network and understanding of the capability requirements of MSPs and IT service providers across Australia, New Zealand and the United Kingdom with Winsys City University’s training heritage of 21 years, the joint programmes create legitimate classroom-to-international-career pathways, offering structured learning and certification avenues that support deeper capability across cloud, cybersecurity, automation, AI and emerging technologies.

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