Business
IMF chief’s positive comments on bailout boost CSE
By Hiran H. Senewiratne
CSE trading was extremely bullish yesterday in the early part of the session after IMF Managing Director Kristalina Georgieva remarked positively on the progress made by the Sri Lankan authorities in taking decisive policy actions to obtain financial assurances from all their major creditors, including China, India and the Paris Club.
During the latter part of the day, profit- takings were witnessed but the stock market ended on a positive note though with mixed reactions, market analysts said. The main All -Share Price Index (ASPI) rose by 4.92 points, while the S&P SL20 was down by 5.53 points.
Turnover is pretty strong and investors are waiting for firmer responses and are jumping in to invest while the sentiments last. The turnover stood at Rs 3.27 billion with five crossings. Those crossings were reported in Hayleys, where 4 million shares crossed to the tune of Rs 309 million, its shares traded at Rs 77, HNB 1.9 million shares crossed for Rs 253 million and its shares traded at Rs 135, Expolanka Holdings 200,000 shares crossed to the tune of Rs 30 million, its shares traded at Rs 150, LB Finance 400,000 shares crossed for Rs 22.4 million, its shares fetched Rs 56 and Hayleys Fabrics 825,000 shares crossed to the tune of Rs 20.6 million , its shares traded at Rs 25.
In the retail market top seven companies that mainly contributed to the turnover were, HNB Rs 287 million (2.1 million shares traded), JKH Rs 170 million (1.2 million shares traded), Capital Alliance Rs 135 million (3.8 million shares traded), Expolanka Holdings Rs 134 million (895,000 shares traded), Hayleys Rs 114 million (1.46 million shares traded), Sampath Bank Rs 95.2 million (1.65 million shares traded) and ACL Cables Rs 94.2 million (1.1 million shares traded). During the day 108 million share volumes changed hands in 27000 transactions.
During the day there had been significant interest in the banking and financial sector.
HNB had been doing significantly well due to the index being heavily undervalued as other banks and financial institutions have been rerated upwards, piling-up investors for HNB, an analyst said.
In the bond market bond yields were down in the mid-day trade on Wednesday as results of a bill auction awaited, dealers said.
A bond maturing on 01.07.2025 was quoted at 30.75/90 per cent on Tuesday, down from 31.40/70 percent on Friday. A bond maturing on 15.05.2026 was quoted at 27.20/28.20 per cent, down from Friday’s close at 28.10/30 per cent. A bond maturing on 15.09.2027 was quoted at 26.95/27.10, down from 28.00/30 per cent.
Yesterday the Central Bank’s US dollar buying rate was Rs 313.77 and the selling rate Rs 331.05. Further, it is quite visible that the rupee is appreciating against the US dollar.
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
US sports envoys to Lanka to champion youth development
Rahuman questions sudden cancellation of leave of CEB employees
