Business
Positive trend in debt restructuring sending good vibes among CSE investors
By Hiran H.Senewiratne
CSE investors seem to be having a positive mindset currently due to completion of the domestic debt restructuring exercise and the positive response which came from the Chinese side on restoring their debt component, market analysts said
“There is a lot of selling pressure on the primary dealer counter. I think this is because First Capital Treasuries’ share dividend went extinct, that is, the dividend is finished.
“So, because of that, the share has been falling. There has been selling pressure, and that is influencing the other two shares also to come down. That is, First Capital Holdings, and Capital Alliance Treasuries, market analysts said.
Amid those developments both indices moved up marginally yesterday. The All- Share Price Index went up by 11.58 points and S and P SL20 rose by 7.6 points. Turnover stood at Rs 1 billion with two crossings. Those crossings were reported in Sampath Bank, which crossed 3.4 million shares to the tune of Rs 226 million; its shares traded at Rs 66.50 and Melstacope 252,000 shares crossed for Rs 20.1 million; its shares traded at Rs 80.
In the retail market top seven companies that mainly contributed to the turnover were; SLT Rs 118 million (1.17 million shares traded), JKH Rs 77 million (402,000 shares traded), Sampath Bank Rs 57.3 million (853,000 shares traded), Tokyo Cement (Non- Voting) Rs 56.4 million (1.4 million shares traded), First Capital Holdings Rs 44.3 million (868,000 shares traded), Capital Alliance Rs 37.5 million (633,000 shares traded) and Pan Asia Bank Rs 34.7 million (1.7 million shares traded). During the day 31.2 million share volumes changed hands in 11000 transactions.
Last week the IMF announced that they had reached a staff level agreement which would give Sri Lanka access to bail-out funds. The Export-Import Bank of China also said it reached a preliminary agreement with Sri Lanka on debt treatment.
On Friday Sri Lanka’s President Ranil Wickremesinghe met Chinese President Xi Jinping and Vice Premier Ding Xuexiang. A joint statement issued by the leaders read: “China will continue to support its financial institutions in conducting friendly consultations with Sri Lanka to reach early agreement on treatment of debts related to China.
Yesterday the rupee opened at Rs 325.50/326.25 to the US dollar from Rs 325.75/326.25 on Friday, dealers said. Stocks were trading up.
Bond yields were down. A bond maturing on 01.06.2026 was quoted at 14.85/15.00 percent. A bond maturing on 01.05.2027 was quoted at 14.90/15.00 percent. A bond maturing on 01.07.2028 was quoted at 14.55/65 percent from 14.55/14.60 percent.
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
