Business
SEC to showcase Sri Lanka as an attractive destination for foreign portfolio investment
The Colombo Stock Exchange (CSE) has performed exceptionally well in the past 12 months with the All Share Price Index (ASPI) appreciating more than 55% and the S&P SL 20 Index appreciating more than 44%. In 2021, the Average Daily Turnover of the CSE stands at Rs 4.8 Bn as against Rs. 1.8 Bn in 2020.
Even though the market has performed exceptionally well, foreign investor contribution to the total market turnover is not substantial due to the prevailing Covid 19 pandemic throughout the world. The Securities and Exchange Commission of Sri Lanka (SEC) is of the view that every effort must be made to impress upon foreign investors/ fund managers and diaspora of the compelling value proposition of the Sri Lankan Capital Market. In this sense, the SEC believes capital flows will also act as a catalyst to economic growth and contribute towards increased wealth creation.
As an initial step, the SEC along with the Foreign Ministry and the CSE has commenced a series of virtual meetings to educate staff of Sri Lankan Missions overseas on the growth potential and investment opportunities available in the Capital Market of Sri Lanka. This initiative will enable the respective staff of Missions overseas to promote portfolio investments to Sri Lanka among the investor community in the respective countries and assist the SEC and the CSE in organizing future overseas forums.
P. M. Amza, Additional Secretary Foreign Ministry; the Chairman SEC Mr Viraj Dayaratne PC; Chinthaka Mendis, Director General SEC; Rajeeva Bandaranaike, CEO CSE; Tushara Jayaratne Director External Relations and Capital Market Education SEC; Prabash Wanigatunge Director Surveillance and Capital Market Development SEC; Niroshan Wijesundere Head of Marketing CSE; Nishantha Hewavithana Head of Research and Strategy CSE and senior officials of both the SEC and CSE participated in these initial virtual forums.
“Portfolio investment will act as a catalyst for economic growth and is a top priority for the Government, particularly in the context of post-Covid economic recovery. These forums will offer the Sri Lankan diaspora the opportunity to understand the investment prospects available in the capital market of Sri Lanka as well” remarked Viraj Dayaratne PC, Chairman SEC.
The first in the series was conducted with the participation of Dr. Lakmini Mendis Minister (Commercial) and other senior officials of the High Commission of Sri Lanka in United Kingdom of Great Britain and Northern Ireland. . Ms. Sashikala Premawardhane, High Commissioner of Sri Lanka in Singapore, Dharshana M. Perera, Ambassador of Sri Lanka in Sweden and . Malraj De Silva, Ambassador of Sri Lanka in Abu Dhabi, United Arab Emirates, Nalinda Wijerathna . Consul General of Sri Lanka Dubai & Northern Emirates, M.I.M. Rizvi, Head of Chancery Embassy of Sri Lanka Abu Dhabi and other senior officials from the Foreign Ministry also participated in the virtual forums conducted with the respective Foreign Missions.
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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