Business
Purchasing Managers’ Indices for both Manufacturing and Services activities expand in December 2021
Manufacturing PMI indicates that manufacturing activities \sustained the expansion on a month-on-month basis in December 2021, recording an index value of 58.1 mainly due to the expansion in New Orders and Production. All the sub-indices except Employment increased during the month.
The expansion in New Orders and Production was mainly driven by seasonal demand for the food & beverage manufacturing sector.
New Orders and Production in manufacture of textile and wearing apparel sector also showed an improvement, yet at a slower pace.
However, Employment sub-index declined in December compared to November 2021. The Stock of Purchases increased at a slower pace compared to the increases in New Orders and Production.
Many respondents mentioned that although they wanted to build up stocks significantly ahead of the Chinese new year holidays, they were able to do it only to a certain extent due to import related issues.
Meanwhile, Suppliers’ Delivery Time lengthened at a higher pace in December 2021. Delays due to port congestions, increase in orders ahead of the Chinese new year holidays, shortage of local raw materials were among the major causes of lengthening the Suppliers’ Delivery Time.
In the next three months, expectations for manufacturing activities remain at higher levels anticipating continuous improvements in economic condition locally and globally.
Services sector PMI edged up to an index value of 62.4 in December marking a strong end to 2021. This increase was underpinned by the increases observed in New Businesses, Business Activities, Employment and Expectations for Activity sub-indices.
New Businesses rose further in December compared to the previous month with the improvements observed across most of the sub-sectors. Business Activities in the Services sector indicated a stronger growth in December in line with the continued improvements in demand amid the normalization of economic activities and the festive season.
Accordingly, business activities improved across most of the sub-sectors, where major improvements were observed in financial services, transportation, wholesale and retail trade and other personal activities sub-sectors. Meanwhile, business activities in accommodation, food and beverage sub-sector also recorded a significant improvement amid the festive season and the considerable growth in international tourist arrivals.
Employment rose further in December as companies continued to expand their workforce owing to the positive developments in their business activities. Meanwhile, Backlogs of Work continued to decline in December in line with staff reporting to work as usual.
Expectations for Business Activities for the next three months improved further in December supported by the improved perceptions amid expectations on continuity of relaxed pandemic related restrictions. Nevertheless, some respondents mentioned that the business outlook continues to remain uncertain due to the challenging economic environment amid inflationary pressures stemmed from supply constraints and potential impact of new variants of COVID-19.
Company stresses ambition to surpass this milestone
Eyes markets across Africa and beyond
In a groundbreaking achievement for Sri Lanka’s IT and electronics manufacturing industry, EWIS Colombo Ltd, the country’s first and only local computer manufacturer, has successfully exported its first consignment of locally built laptops to Zimbabwe.
This landmark event not only positions Sri Lanka as an emerging force in global IT hardware manufacturing but also highlights EWIS’s commitment to innovation, quality, and excellence on the international stage.
This historic shipment, dispatched from EWIS’s state-of-the-art manufacturing facility in Samajasewapura, Sooriyawewa, underscores the company’s dedication to delivering world-class technology solutions. With over 11 years of expertise in manufacturing and assembly, EWIS Colombo Ltd has played a pivotal role in driving Sri Lanka’s ICT sector forward. As a Board of Investment (BOI) Section 17-approved company, EWIS has established the country’s first and only local computer manufacturing plant, paving the way for the nation’s growth in high-tech exports.
Speaking on this momentous achievement, Sanjeewa Wickramanayake, Chairman of EWIS Colombo Ltd, said: “This milestone is not just for EWIS but for Sri Lanka as a whole. It proves that our country has the talent, capability, and ambition to manufacture and export high-quality IT products, competing confidently on the global stage. As we continue expanding beyond local markets, we take immense pride in showcasing Sri Lanka’s excellence in technology and innovation to the world. EWIS’s commitment to world-class quality is reinforced by its ISO 9001:2015, ISO 14001:2015, CE, FCC, and RoHS certifications, ensuring compliance with international quality, safety, and environmental standards.”
Speaking further he said:
“For nearly four decades, EWIS has been a trailblazer in Sri Lanka’s ICT sector, delivering cutting-edge solutions for education, businesses, and government enterprises.
With over 11 years of local manufacturing and assembly expertise, EWIS has continuously refined its capabilities to produce high-quality, internationally competitive IT hardware. The successful export to Zimbabwe represents a bold step toward expanding EWIS’s global footprint, reinforcing Sri Lanka’s potential as a world-class technology and manufacturing hub.”
Dialog Television, Sri Lanka’s #1 Pay-TV service provider, has partnered with Emerging Media to enhance the convenience and effectiveness of advertising. This collaboration brings together Dialog Television’s world-class entertainment, featuring 18 advertisable channels across genres such as movies, edutainment, kids, music, sports, and local content, with Emerging Media’s expertise in digital advertising and targeted marketing. This synergy creates a seamless platform for businesses to maximize brand exposure across multiple channels.
With a reach of over 1.7 million households, Dialog Television provides advertisers with a powerful avenue to engage diverse audiences. Brands can place advertisements on leading international and local channels such as &flix, Star Movies, TLC, Animal Planet, AXN, Zee Café, Comedy Central, Star Plus, A+, Nickelodeon, Star Vijay, Zee Tamil, Star Sports, Ten Cricket, Sony SIX, ThePapare TV, Channel One, Citi Hitz and Channel C. Through this partnership, Emerging Media will facilitate advertising sales, allowing businesses to target specific viewer segments while simplifying the media buying process with a single point of contact.
Commenting on the partnership, Lim Li San, Group Chief Operating Officer at Dialog Axiata PLC, stated, “As Sri Lanka’s premier Pay-TV service provider, we serve more than 1.7 million households with over 6 million pairs of captive eyeballs across Sri Lanka. Today, we are excited to embark on this partnership with Emerging Media to avail our Dialog Television platform and brand strength to provide quality advertisement exposure and customer engagement to local businesses across Sri Lanka.”
The International Institute of Health Sciences (IIHS), a pioneer in healthcare training for over 23 years, has partnered with the University of Surrey, UK, to revolutionise healthcare education in Sri Lanka and the broader South Asian region. This will create a world-class academic pathway for aspiring nursing and healthcare professionals, as well as young individuals seeking careers in the field. Under this agreement, IIHS and the University of Surrey will introduce a series of academic initiatives to enhance healthcare training and accessibility.
These include delivering internationally recognised nursing programmes that allow Sri Lankan and regional students to earn globally competitive qualifications in Sri Lanka.
Commenting on the move, Dr. Kithsiri Edirisinghe, CEO & Dean of Undergraduate Studies at IIHS, said: “This MOU marks a significant step in our mission to deliver world-class healthcare education to Sri Lanka and the region. IIHS remains dedicated to shaping the future of healthcare professionals and fostering global healthcare leadership.” Dr. Shelini Surendran, Associate Dean (International) at the University of Surrey, emphasised: “Sri Lanka is establishing itself as a regional education hub, and this partnership ensures students across Asia can access top-tier UK healthcare education at IIHS. By bridging academic excellence with accessibility, we provide students with a clear pathway to their professional goals.”
French Navy Ship PROVENCE arrives in Port of Colombo
Court of Appeal dismisses Ex-IGP’s writ petition
Trump moves to close down Voice of America
-
Foreign News2 days agoSearch continues in Dominican Republic for missing student Sudiksha Konanki
-
News6 days agoAlfred Duraiappa’s relative killed in Canada shooting
-
Features5 days agoRichard de Zoysa at 67
-
Editorial7 days agoGhosts refusing to fade away
-
Midweek Review6 days agoRanil in Head-to-Head controversy
-
Features5 days agoSL Navy helping save kidneys
-
Features7 days agoThe Gypsies…one year at a time
-
Latest News3 days agoDebutant Madara, Athapaththu fashion Sri Lanka women’s first T20I win in New Zealand