Business
Considerable lift for export business shares
By Hiran H.Senewiratne
CSE trading started off on a negative note yesterday after the Central bank raised key policy rates by 100 basis points along with some other tightening measures. But later the market turned positive, following rumours that the Central Bank would allow a free float of the rupee against the US dollar, which would benefit companies that are into the export business, stock market analysts said.
Amid those developments blue chip counters witnessed substantial gains, especially Expolanka Holdings. With the selling of stocks improving in the latter part of the day, all companies’ share prices appreciated by below five per cent. Both indices moved upwards. The All- Share Price Index went up by 80.8 points and S and P SL20 rose by 55.9 points. Turnover stood at Rs 3 billion with two crossings. The turnover level improved from the previous day’s though it’s below the average turnover level of Rs 3.5 billion.
The crossings that were reported during the day were, JKH, which crossed 1.38 million shares to the tune of Rs 199.6 million; its shares traded at Rs 144 and Hemas Holdings, which crossed 660,000 shares to the tune of Rs 40.9 million; its shares traded at Rs 62.
In the retail market top seven companies that mainly contributed to the turnover were; Expolanka Holdings Rs 507 million (1.8 million shares traded), LOLC Holdings Rs 384 million (403,000 shares traded), Commercial Leasing and Finance Rs 346 million (7.3 million shares traded), Browns Investments Rs 247 million (21.6 million shares traded), Lanka IOC Rs 160 million (2.5 million shares traded), LOLC Finance Rs 115 million (5.3 million shares traded) and Royal Ceramic Rs 100 million (1.7 million shares traded). During the day 77.6 million shares changed hands in 23000 transactions.
It is said that high net worth and institutional investor participation was noted in Browns Investments, Teejay Lanka and LOLC Holdings. Mixed interest was observed in Expolanka Holdings, Lanka IOC and Commercial Leasing and Finance, while retail interest was noted in Softlogic Capital, SMB Leasing and LOLC Finance.
Yesterday, the US dollar was quoted at Rs 203.67, which was the Central Bank controlled price to prevent price escalations of essential imports. The actual price would be at the Rs 240 level. However, Central Bank Governor Ajith Nivard Cabraal said that this controlled price is suitable, since it has no harmful impact on the economy.
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
