Business
Colombo Stock Market launches second phase of digitalisation
The Securities and Exchange Commission of Sri Lanka (SEC) along with the Colombo Stock Exchange (CSE) continue to drive digital advancement in Sri Lanka’s capital market with the launch of the second phase of the digitalisation of the Stock Market on 07TH July 2021 under the patronage of President Gotabaya Rajapaksa at the Presidential Secretariat.
The event was attended by Dr. P.B Jayasundara , Secretary to President, Viraj Dayaratne PC, Chairman SEC, Dumith Fernando, Chairman CSE, Manil Jayesinghe, Commission Member SEC, Naresh Abeyesekera, Chairman of the Digitalization Committee and Commission Member SEC, Chinthaka Mendis, Director General SEC, Jayantha Fernando, Director CSE, Rajeeva Bandaranaike, Chief Executive Officer CSE, Prabash Wanigatunge, Director, Surveillance and Acting Director Capital Market Development SEC and Chandrakanth Jayasinghe, Chief Information Officer, CSE.
Following the Covid-19 outbreak in Sri Lanka in March 2020, the need to further digitize the operations of the stock market to ensure uninterrupted access, increase investor participation, enhance operational efficiencies and service standards became a top priority. The digitalisation initiative is expected to be completed in three phases and is a collaborative effort of a joint committee comprising of both the SEC and the CSE members appointed by the Chairman of the SEC.
On 17th September 2020, a special ceremony was held under the auspices of Prime Minister Mahinda Rajapaksa to launch the first phase, which included customer onboarding to trade confirmation and execution of corporate actions.
Since the completion of the first phase of digitalization and the launch of the Mobile Application, total app downloads exceeded 65,000 and approximately 17,000 new Central Depository System (CDS) accounts were opened via the mobile app. Moreover, 97% of the total local individual accounts opened were through the app and 84% of the total accounts opened were by those aged between 18 to 40. The app has become one of the fastest growing in Sri Lanka, reaching 21 million smartphones nation-wide. This sharp rise in retail investor participation implies that digitalization of the stock market operations has been able to reach a large section of the more technologically savvy investors.
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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