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Purchasing Managers’ Indices indicate contraction in June 2022

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aIndicating a contraction on a month-on-month basis, the Purchasing Managers’ Indices for both Manufacturing and Services activities decreased in June 2022, recording 44.1 and 40.3 index values, respectively.IIP in May 2022 decreased by 2.3 per cent to 91.1 compared to May 2021. Among the major sub divisions of the manufacturing industries, “coke and refined petroleum products” (98.5 per cent) and “Other non-metallic mineral products” (23.7 per cent) have mainly contributed to this overall decrease.

During the period under review (09.07.2022 to 15.07.2022), crude oil prices broadly showed a declining trend. Prices fell mainly on account of demand concerns due to mass testing for COVID-19 in China and IMF’s downward revision to the US growth forecast for 2022. Prospects of a large US rate hike later this month also supported the price decline. Overall, during the period under review, Brent and WTI prices decreased by US dollars 6.97 and US dollars 7.97 per barrel, respectively.

Weekly AWPR for the week ending 15th July 2022 decreased by 8 bps to 22.19 per cent compared to the previous week.The reserve money decreased compared to the previous week mainly due to decrease in the deposits held by the commercial banks with the Central Bank.The total outstanding market liquidity was a deficit of Rs. 521.760 bn by the end of this week, compared to a deficit of Rs. 630.701 bn by the end of last week.By 15th July 2022, the All Share Price Index (ASPI) increased by 5.47 per cent to 7,467.82 points and the S&P SL 20 Index increased by 6.92 per cent to 2,400.17 points, compared to the index values of last week.

During the year up to 15th July 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 40.4 per cent, the Euro by 37.4 per cent, the pound sterling by 36.8 per cent and the Japanese yen by 33.0 per cent during this period.

Earnings from exports increased by 12.2 per cent (Y-o-Y) to US dollars 5,266 mn during the five months ending May 2022 as a result of increased earnings mainly from exports of textiles and garments (16.2%), petroleum products (87.3%), gems, diamonds and jewellery (41.7%), machinery and mechanical appliances (12.0%) and base metals and articles(40.2%).

Import expenditure increased by 5.3 per cent (Y-o-Y) to US dollars 8,802 mn during the five months ending May 2022 largely due to higher imports of fuel (38.5%), textiles and textile articles (19.6%), cereals and milling industry products (1,074.7%) and diamonds and precious stones and metals(46.9%). However, the deficit in the trade account narrowed to US dollars 3,535 mn during the five months ending May 2022 from US dollars 3,663 mn in the corresponding period of 2021.

The export unit value index increased by 3.3 per cent (Y-o-Y), in May 2022 due to higher prices registered in all major categories, namely industrial, agricultural and mineral exports. The import unit value index in May 2022 increased by 26.8 per cent (Y-o-Y), due to higher prices mainly recorded in intermediate and investment goods. Accordingly, the terms of trade deteriorated by 18.5 per cent (Y-o-Y), to 71.3 index points in May 2022.The average price of tea (in the Colombo auction) increased to US dollars 3.74 per kg in May 2022 from US dollars 3.06 per kg in May 2021.The average import price of crude oil increased significantly by 60.6 per cent in May 2022 (Y-o-Y). -CBSL



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The Ceylon Chamber’s Commercial Document Registration Division expands export support

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The Commercial Documents Registration Division (CDRD) of The Ceylon Chamber of Commerce has expanded its export support services with the introduction of the Free Sale Letter for Pharmaceuticals, providing Sri Lankan pharmaceutical manufacturers and exporters with an additional document certification service to support their export processes and compliance requirements in international markets.

The new service expands CDRD’s portfolio of trade documentation solutions, which includes Certificates of Origin and the certification of key commercial documents required by overseas buyers, customs authorities, and regulatory bodies. These services assist exporters across sectors by helping ensure their documentation meets applicable requirements for international trade.

Established in 1925 as one of the authorised institutions to issue Certificates of Origin in Sri Lanka, CDRD has supported the country’s international trade for nearly a century. Today, the Division provides certification and verification services to exporters, manufacturers, freight forwarders, logistics providers, and other trade stakeholders, supporting businesses in meeting documentation requirements for global markets.

In addition to pharmaceutical certification, CDRD facilitates the certification of Commercial Invoices, Packing Lists, Price Lists, Health Certificates, Phytosanitary Certificates, Certificates of Analysis, Bills of Lading, Survey Reports, Beneficiary Certificates, and other export-related documents. The Division also issues Free Sale Letters and Surveyor Appointment Letters, while supporting exporters through the Ministry of Foreign Affairs’ Electronic Document Attestation System (e-DAS), enabling secure and efficient document authentication.

Through established processes, digital solutions, and its e-service platform, CDRD continues to enhance the efficiency and accessibility of trade documentation services. Available 24/7 and 365 days of the year, the platform enables exporters to submit and manage documentation requirements conveniently while ensuring that certified documents meet internationally accepted requirements. By providing reliable documentation support and adapting its services to changing trade needs, the Division assists Sri Lankan businesses in managing export requirements and accessing international markets.

For more information on obtaining commercial document registration services, contact Achala via achala@chamber.lk / 0115588886

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Siyapatha Finance unveils newest branch in Bandarawela

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Siyapatha Finance PLC recently expanded its island-wide footprint with the successful inauguration of its 64th branch in Bandarawela. Strategically located in scenic hill town in the Badulla District, the latest branch offers convenient and wider access to tailored, customer-centric financial solutions.

The branch was ceremoniously declared open by Siyapatha Finance PLC Chief Executive Officer (CEO) Mathisha Hewavitharana, joined by Chief Operating Officer (COO)Rajeev De Silva, Ms.D.M. Dewmi Tharindi, a student of Bandarawela Dharmapala Vidyalaya who won the Under-18 Girls’ 3,000m event at the Junior National Athletics Championship, the Senior Management and staff members as well as Traffic OIC Kandasami, Trade Association Secretary Sunanda Rathnayaka, representatives of the government and private banks and insurance companies and well-wishers.

Sharing his thoughts, Siyapatha Finance PLC CEO Mathisha Hewavitharana remarked: “We are deeply honoured to be of service to the people of Bandarawela. Opening this branch is a pivotal step in our 2026 expansion strategy and a reflection of our commitment to strengthen our presence in Sri Lanka. It is a region that showcases potential for greater economic development primarily through the country’s traditional agricultural practices. We look forward to reaching as many different communities as possible in the coming years.”

The Bandarawela branch offers a comprehensive product portfolio including leasing, fixed deposits, gold financing, business loans, personal loans, fast draft, and factoring to Smart Pay, the Company’s bill payment facility. With a thorough understanding about the current socio-economic dynamics of the region, the well-trained team at the newest branch is dedicated to providing flexible financial solutions to aspiring individuals as well as small and medium-scale enterprises (SMEs).

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Dialog recognised as Sri Lanka’s Most Loved Service and Telecommunications Brand for third consecutive year

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Dialog Axiata PLC, Sri Lanka’s #1 connectivity provider, has once again been recognised as Sri Lanka’s Most Loved Brand in the Service and Telecommunications sectors, while also ranking among the top Corporate Brands in the LMD Brands Annual. Marking its third consecutive year at the top of both categories, the recognition reflects the company’s commitment to enriching Sri Lankan lives and enterprises through technology, while creating value for customers, communities and the nation.

The accolades were awarded through the LMD Brands Annual survey, conducted independently by PepperCube Consultants on behalf of Media Services. Based on responses from 400 readers across Sri Lanka, representing a broad demographic and geographic mix, the survey identified the brands that resonated most strongly with consumers in terms of trust, loyalty and brand affinity.

Lasantha Theverapperuma, Group Chief Marketing Officer of Dialog Axiata PLC said, “Being recognised as Sri Lanka’s Most Loved Brand across both the Service and Telecommunications sectors is a meaningful endorsement of the trust and confidence that Sri Lankans continue to place in Dialog. This recognition reflects our commitment to understanding and serving the evolving needs of our customers while expanding access to digital connectivity, services and opportunities. As we continue to innovate and grow, we remain focused on creating value for communities and supporting Sri Lanka’s digital and socioeconomic progress.”

The recognition also reflects Dialog’s continued focus on innovation, customer-centricity and investments that support Sri Lanka’s digital future, including expanded 5G connectivity, AI-powered digital experiences and broader access to digital services.

Beyond connectivity, Dialog continues to support communities, livelihoods and the environment through initiatives such as Govi Mithuru, which provides AI-driven agricultural advisory services to over one million farmers, and Shishyadhara, which has enabled subsidy distribution to more than 450,000 underprivileged students. The company also continues to advance its Net Zero 2050 ambition through energy optimisation, renewable energy adoption and the expansion of solar-powered network infrastructure.

Further underscoring the brand’s standing among Sri Lankan consumers, Dialog was also recognised as the ‘Service Brand of the Year’ for the fifth time and the ‘Telecommunication Brand of the Year’ for the 15th consecutive year at the SLIM-KANTAR People’s Awards 2026.

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