The Monetary Board of the Central Bank of Sri Lanka decided to cancel the Finance Business Licence issued to Swarnamahal Financial Services PLC (SFSP), in terms of Section 37(3) of the Finance Business Act, No. 42 of 2011 (FBA) with effect from 28^th December 2022. Accordingly, SFSP is not permitted to engage in Finance Business under the FBA with effect from 28^th December 2022. Further, the Director of the Department of Supervision of Non- Bank Financial Institutions of the Central Bank of Sri Lanka has decided to cancel the Certificate of Registration of SFSP as a Registered Finance Leasing Establishment under the provisions of the Finance Leasing Act, No. 56 of 2000.  

Purchasing Managers' Indices for both Manufacturing and Services activities remained contracted in November 2022.

Indicating a setback in manufacturing activities on a month-on-month basis, Manufacturing PMI recorded an index value of 42.1 in November 2022. This setback was contributed by subdued performance observed in all the sub-indices, except for Suppliers’ Delivery Time. 

Services PMI recorded an index value of 49.0 in November 2022, up from 47.9 in October, yet remained slightly below the neutral threshold level. The rate of decline in services activities was softened with the improvements observed in New Businesses, Business Activities and Expectations for Activity. However, Employment and Backlogs of Work declined during the month.