Business
Browns Investments enters into $ 1 billion MOU with CHEC
By Hiran H.Senewiratne
Browns Investments PLC announced that it has entered into a Memorandum of Understanding (MOU) with China Harbour Engineering Company to put up a major mixed development project in Port City, which runs into US$ one billion, stock market analysts said.
Under this joint venture project Browns Investments will be building two residential apartments and one office complex. The total area that would be covered by the project would be around 160,000 square meters. Initial investment would be US$ 450 million and the project will take some time for completion, analysts added..
Browns Investments contributed more than 48 percent to the turnover with its retail trading activities, stock market analysts said.
Further, Sunshine Holdings PLC said it was acquiring Akbar Pharmaceuticals (Pvt) Ltd for a 25 percent stake in its own pharma unit, Sunshine Healthcare (Pvt) Ltd.
Amid those developments both CSE indices showed a downward trend. All Share Price Index went down by 31.53 points and S and P SL20 declined by 19.74 points Turnover stood at Rs. 4.44 billion with five crossings. Those crossings were reported in Hatton Plantations, which crossed 29 million shares to the tune of Rs. 291 million, its shares traded at Rs. 10, Tokyo Cement 500,000 shares crossed for Rs. 29.6 million; its shares traded at Rs. 59.10, Hemas Holdings 296,000 shares crossed for Rs. 28.7 million, its share value was 97, Dialog two million shares crossed for Rs. 24.6 million, its shares being traded at Rs. 12.30 and Distilleries one million shares crossed for Rs. 21 million, its share price standing at Rs. 21. The market was negative because 139 companies’ share prices declined.
In the retail market, top five companies that contributed to the turnover were; Browns Investments Rs. 2.15 billion (514 million shares traded), Tokyo Cement Rs. 205 million (2.9 million shares traded), Brown and Company Rs. 74.8 million ( 1.6 million shares traded), Tokyo Cement (Non Voting) Rs. 151.2 million (2.49 million shares traded) and Expolanka Rs. 118.7 million (4.7 million shares traded).During the day 610 million share volumes changed hands in 26629 transactions.
The Sri Lankan rupee was quoted at 186.9 against the US dollar as of 11:02 GMT, 0.11% lower for the day compared to last session’s close of 186.7. The currency is down 3.09% so far this year. Equity market turnover was Rs. 3.44 billion, data showed.
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
