Business
Bull run at CSE; most sectors perform well
By Hiran H.Senewiratne
CSE trading resumed yesterday on a bullish note expecting Treasury Bill rates and Central Bank policy rates to decline sharply or to arrive at a stable level. Further, the banking sector was the top contributor to the turnover, while other sectors too began to perform well in the market, market analysts said.
The All- Share Price Index gained 99.49 points to close at 10,176.13 points, while the S and P SL20 index gained 35.97 points to close at 3009.09 points. It is the highest ASPI close since 2022 March, analysts said.
Turnover stood at Rs 4.95 billion with seven crossings. NDB 5.9 million shares crossed to the tune of Rs 355 million and its shares traded at Rs 60, JKH 2.2 million shares crossed for Rs 352 million, its shares traded at Rs 60, Expolanka Holdings two million shares crossed for Rs 282 million; its shares traded at Rs. 141, Commercial Bank 1.9 million shares crossed for Rs 154.4 million and its shares traded at Rs 81, Ceylon Cold Stores two million shares crossed for Rs 96 million; its shares traded at Rs 48, CIC 744,000 shares crossed to the tune of Rs 48.3 million; its shares fetched Rs 65 and Hayleys 400,000 shares crossed for Rs 34.8 million; its shares traded at Rs 87.
In the retail market top seven companies that mainly contributed to the turnover were; Commercial Bank Rs 387 million (4.7 million shares traded), Hayleys Rs 287 million (3.3 million shares traded), Browns Investments Rs 250 million (38.9 million shares traded), Capital Alliance Rs 221 million (5.3 million shares traded), Expolanka Holdings Rs 192 million (1.3 million shares traded), JKH Rs 149 million (934,000 shares traded), and Sampath Bank Rs 137 million (2.1 million shares traded). During the day 173 million share volumes changed hands in more than 30,000 transactions.
Sri Lanka has made the offer to restructure domestically as part of efforts to meet International Monetary Fund targets to make government debt sustainable after sovereign default.
Sri Lanka is offering to swap debt in provident funds for new instruments with a longer duration in line with an Extended Fund Facility (EFF) of the IMF. Dollar debt of domestic banks would also be restructured.
Yesterday the Central Bank’s US dollar buying rate was Rs 298.89 and selling rate Rs 313.66.
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.”
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