Business
CSE shows gains but fails to sustain momentum
By Hiran H.Senewiratne
The latest IMF report has revealed that global economic conditions are going to be gloomy and that the world economy will expand by 3.2 per cent towards the end of 2022 due to the global recession. Accordingly, most economies will likely go bankrupt and the Sri Lanka economy is the first to thus collapse, stock market analysts said.
Amid these developments yesterday, the CSE showed some gains at the beginning but could not sustain that momentum because the investors are expecting some relief from the budget that would likely be presented in parliament before the end of August, market analysts said.
Therefore, both indices showed mixed reactions. All Share Price Index went down by 3.5 per cent and S and P SL20 rose by 9.9 points. Turnover stood at Rs one billion with a single crossing. The crossing was reported in Windforce, which crossed 1.4 million shares to the tune of Rs 21 million; its shares traded at Rs 15.
In the retail market top seven companies that mainly contributed to the turnover were; Sunshine Holdings Rs 421 million (11.1 million shares traded), Lanka IOC Rs 83 million ( one million shares traded), Expolanka Holdings Rs 72.6 million (430,000 shares traded), hZenid Business Solutions Rs 34.3 million (1.5 million shares traded), Balangoda Plantations Rs 24.6 million (537,000 shares traded), Browns Investment Rs 22.6 million (3.2 million shares traded) and Regiz Rs 21.7 million (419,000 shares traded).
During the day, 54.2 million share volumes changed hands in 13000 share transactions.Top gainers were, Malwatte Valley Plantations, Teejay Lanka and Sampath Bank. Further, market activities have improved and turnover levels surpassed Rs one billion. But the main sector that contributed was the manufacturing sector but logistics and transport sectors also performed well. Plantations sector and the IT sector also did well, stock market analysts said.Yesterday, the Central Bank announced US dollar buying rate was Rs 357.44 and the selling rate Rs 368.49.
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
