Business
Tourism sector stocks bouncing back as SL sees uptick in inbound travel
By Hiran H.Senewiratne
Tourism sector counters were more active yesterday compared to other sectors as tourist arrivals have been showing an increasing trend, stock market analysts said.
In the retail market top seven companies that mainly contributed to the turnover were Hayleys Leisure Rs 112 million (4.3 million shares traded). And JKH Rs 64.9 million (341,000 shares traded),
Meanwhile, Lanka IOC Rs 44.5 million (371,000 shares traded), Capital Alliance Rs 43 million (514,000 shares traded), Asian Hotel and Properties Rs 40.9 million (665,000 shares traded), Hayleys Plc Rs 38.1 million (405,000 shares traded) and ACL Cables Rs 37.5 million (490,000 shares traded). During the day ,40.6 million share volumes changed hands in 14,000 transactions.
Amid those developments, the stock market turned red yesterday as investors were anticipating nex taxes, namely; wealth tax, capital gain tax and several other new taxes to be introduced through the upcoming budget, market analyst said.
Accordingly both indices moved downwards. All Share Price Index down by 81.7 points and S and P SL20 down by 98.46 points. Turnover stood at Rs 1.15 billion with two crossings. Those crossings were reported in Citizens Developments Bank crossed its 400,000 shares to the tune of Rs 78 million and its share price traded at Rs 195 and Serendip Hotels 1.5 million shares crossed to the tune of Rs 24 million and its share price traded at Rs 16.
Meanwhile, the Colombo Stock Exchange (CSE) announced the introduction of two significant initiatives shortly, Regulated Short Selling (RSS) through Stock Borrowing and Lending (SBL), which are aimed at enhancing trading opportunities and flexibility for investors.
In this regard, the CSE conducted an awareness session on RSS and SBL, to the institutional and high net worth individual investors and CEOs of trading participants on 8th September 2023 at Shangri-La Colombo with the participation of CSE Chairman Dilshan Wirasekara, Chief Executive Officer (CEO) Rajeeva Bandaranaike, CSE Chief Regulatory Officer (CRO) Renuke Wijayawardhane, Securities and Exchange Commission of Sri Lanka (SEC) Deputy Director General Tushara Jayaratne and the senior management and the staff of the CSE.
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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