Business
Browns Investments-linked consortium figures in coal supply negotiations
By Hiran H.Senewiratne
A business consortium setup by Browns Investments, a subsidiary of LOLC Group, together with China Machinery Engineering Corporation is expected to enter into negotiations with the Sri Lankan government to secure an unsolicited bid to supply coal to the Norochcholai power plant, stock market analysts said.Accordingly, the organizations submitted two proposals to the government; the first one on August 12 and the re -submission of the same proposal on September 8. The Norochcholai coal power plant shut down for some time and is due to resume operations now but another crisis would likely occur in the future, market analysts said. This created some significant buying interest for Browns Investments stocks during the last few weeks, stock market analysts said.
Yesterday, CSE gained over 1.5 per cent in mid-day trade pushed by index heavy shares, recovering the loss made in the previous session. Previous runners LOLC Finance and several other blue chip companies witnessed some profit- taking. But banking sector and hotel sector counters were active in the market, stock market analysts said.
Therefore, both indices moved upwards. The All- Share Price Index went up by 165 points and S and P SL20 went up by 59.9 points. Turnover stood at Rs 4.1 billion with four crossings. Those crossings were reported in Expolanka Holdings, which crossed three million shares to the tune of Rs 690 million and its shares traded at Rs 230, Royal Ceramic one million shares crossed to the tune of Rs 40, its shares traded at Rs 40, JKH 49000 shares crossed to the tune of Rs 33.6 million; its shares traded at Rs 135 and Dialog three million shares crossed to the tune of Rs 27 million, its shares fetched Rs 8.80.
In the retail market top seven companies that mainly contributed to the turnover were; Browns Investments Rs 267 million (32 million shares traded), Lanka IOC Rs 246 million (434,000 shares traded), Sampath Bank Rs 203 million (5.6 million shares traded), Expolanka Holdings Rs 152 million (668,000 shares traded), Hotel Corporations Rs 143 million (5.4 million shares traded), JKH Rs 134 million (969,000 shares traded) and CIC Holdings Rs 121 million (1.3 million shares traded). During the day 158 million share volumes changed hands in 36000 share transactions.Yesterday, the Central Bank’s US dollar buying rate was Rs 358.93 and the selling rate Rs 369.71.Inflation is around 66.75 per cent, which needs to be brought down to a single digit by stablising the rupee against the US dollar.
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
