Business
Climate of uncertainty on debt restructuring hampers CSE
By Hiran H.Senewiratne
The CSE was flat and slow yesterday as investors continued to wait for clear directions on the economic front. Opposition lawmaker Dr. Harsha de Silva at a recent media interview said that the government would likely to go for a haircut when it comes to domestic debt restructuring. However, the government is yet to take a decision in that direction, stock market analysts said.
Both indices showed mixed reactions. The All- Share Price Index went down by 12.2 points and S and P SL20 rose by 11.7 points. Turnover stood at Rs 933 million with one crossing. The crossing took place in Hayleys, which crossed 368,000 shares to the tune of Rs 26.7 million; its shares traded at Rs 72.50.
In the retail market top seven companies that mainly contributed to the turnover were; Dialog Axiata Rs 119 million (11.1 million shares traded), JKH Rs 106.3 million (775,000 shares traded), Tokyo Cement (Non- Voting) Rs 99.1 million (2.1 million shares traded), Expolanka Holdings Rs 82.5 million (490,000 shares traded), Royal Ceramic Rs 38.4 million (1.3 million shares traded), Tokyo Cement (Voting) Rs 34.6 million (702,000 shares traded) and Access Engineering Rs 29 million (1.9 million shares traded). During the day 42.9 million share volumes changed hands in 11000 transactions.
Seylan Bank’s Rs. 7 billion debenture issue to qualified investors will have its official opening today. The Bank is issuing 50 million fully paid, BASEL III Compliant Tier 2 Listed Rated Unsecured Subordinated Redeemable Debentures with a Non-Viability Conversion at a par value of Rs. 100 each with an option to issue up to a further 20 million of such debentures in the event of an oversubscription of the initial tranche, at the discretion of the Bank.
Sri Lanka’s bond and T-bill yields were up in mid-day trade on Thursday, dealers said. A bond maturing on 01.07.2025 was quoted at 28.10/40 percent, up from 27.90/28.20 percent from a day earlier. A bond maturing on 15.09.2027 was quoted at 26.10/30 percent, up from 25.90/97 percent.
A one year bill was quoted at 22.90/23.00 percent, slightly up from 22.70/23.00 percent from the last close. The rupee quoted at Rs 321.20/50 to the US dollar in the spot market, had slightly depreciated from Wednesday’s close at Rs 321.00/30.
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
