Business
Govt.’s visa announcement gives hotel sector shares a boost
By Hiran H.Senewiratne
The stock market bounced back yesterday as many hotel sector counters performed well and heavy buying interest was noted following the government’s announcement on issuing free visas for 50 countries to enable their bearers to enter Sri Lanka. The target is the tourism sector, stock market analysts said.
Yesterday the stock market kicked off on a negative sentiment but later bounced back after suffering its highest daily loss as investors reacted negatively to the deadlock in external debt restructuring talks, while an element of profit- taking was evident too on the previous day, market analysts added.
Amid those developments both indices moved upwards. The All Share Price Index went up by 38.7 points while S and P SL20 rose by 18.48 points. Turnover stood at Rs 2 billion with two crossings. Those crossings were reported in HNB, which crossed 497,000 shares to the tune of Rs 96.7 million; its shares traded at Rs 194 and T J Lanka 639,000 shares crossed for Rs 23.6 million and its shares sold at Rs 37.
In the retail market top seven countries that contributed to the turnover were; HNB Rs 221 million (1.1 million shares traded), Dialog Rs 177 million (15.4 million shares traded), Lanka IOC Rs 167 million (1.3 million shares traded), Ambeon Holdings Rs 105.3 million (8.5 million shares traded), Capital Alliance Rs 83 million (1.3 million shares traded), Hemas Holdings Rs 71.1 million (873,000 shares traded) and Sampath Bank Rs 66.8 million (848,000 shares traded). During the day 86.4 million shares changed hands in 17750 transactions.
High net worth and institutional investor participation was noted in Lanka IOC, JKH and John Keells Hotels. Mixed interest was observed in Ambeon Capital, Browns Investments and LOLC Finance, while retail interest was noted in Hikkaduwa Beach Resort Rights, Lanka Credit and Business Finance and Industrial Asphalts.
The Banking sector was the top contributor to the market turnover while the sector index lost.
The Diversified Financials sector was the second highest contributor to the market turnover (due to LOLC Finance and Capital Alliance) while the sector index decreased by 2.81 percent. The share price of LOLC Finance recorded a loss of 20 cents to dip to Rs. 5.90. The share price of Capital Alliance declined by Rs. 1.10 to reach Rs. 59.00.
Yesterday the rupee opened steady at Rs 300.00/75 to the US dollar in the spot forex market, dealers said. Bond yields remained broadly steady as well, ahead of the bill auction. A bond maturing on 15.12.2026 was quoted stable at 11.30/35 percent. A bond maturing on 15.12.2028 was quoted stable at 12.10/15 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.”
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