Business
Bourse’s fortunes pick-up in the wake of IMF deal speculation
By Hiran H. Senewiratne
The CSE gained in mid-day trade yesterday after slipping for five straight sessions but the market moved up as margin-selling eased amid speculation that an IMF deal would be signed on Wednesday, a market analyst said.
The stock market showed some positive sentiment during the day and it mainly rallied round plantation sector counters, which showed gains among almost all companies during the day. The chief reasons being the rupee depreciation against the dollar and the fact that flowery grade tea fetches more than Rs 10,000 per kilo gram, stock market analysts said.
Both indices showed upward movement. The main All- Share Price index gained 1.55 per cent or 132 points to reach 8,867.86. The most liquid S&P SL20 index gained 1.18 per cent or 30.6 points to reach 2,866.70. Turnover stood at Rs 1.8 billion with one crossing. The crossing was reported in Expolanka Holdings, which crossed 500,000 shares to the tune of Rs 110 million; its shares traded at Rs 220.
In the retail market seven companies that mainly contributed to the turnover were; Expolanka Holdings Rs 153 million (709,000 shares traded), Kotagala Plantations Rs 104.5 million (11.1 million shares traded), Lanka IOC Rs 92.5 million (55,000 shares traded), CTC Holdings Rs 82.5 million (500,000 shares traded), Watawala Plantations Rs 73.2 million (107,000 shares traded), Lankem Development Rs 68.4 million (2.5 million shares traded) and Agalawatte Plantations Rs 61.1 million (1.3 million shares traded). During the day 81.6 million share volumes changed hands in 2000 share transactions.
Since August 16, the stock market has seen net buying of over Rs. 850 million. On Friday, CSE had a high net inflow of Rs. 405 million. If the trend continues, August might finish with a high net inflow. Year-to-date, however, there has been a net outflow of Rs. 385 million, far lower than the Rs. 1.2 billion in mid-August, thanks to recent net buying.
Yesterday the Central Bank’s US dollar buying rate was Rs 357.95 and the selling rate Rs 368.89.
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
