Business
CB Governor’s assurance drives banking sector stocks
By Hiran H. Senewiratne
The trading activites in the CSE yesterday started with a mild gain and later buying interest built up in the banking sector. Therefore, index weighted most of the banking sector counters including HNB, Sampath Bank, DFCC Commercial Bank and several other listed banks pushed up up market,yesterday
This was mainly due to the Central Bank Governor Dr. Nandalal Weerasinghe’s statement that Sri Lanka’s public bank deposits and stability of the banking system will be safeguarded in any optimization of domestic debt,
“There is speculation about the stability of public deposits and banking system stability,” Governor Weerasinghe said in a public forum.
“In any kind of debt optimization, we will ensure and safeguard banking system stability as well as the protection of public deposits.”
This assurance boosted the market which resulted in the banking sector performing well yesterday’s market, analysts said.
Amid those developments both indices moved upwards. All Share Price Index up by 62.1 points and S and P SL20up by 19.6 points. Turnover stood at Rs 589 million with a single crossing. The crossing took place in HNB, which crossed 200,000 shares to the tune of Rs 23.3 million and its share price traded at Rs 116.50.
In the retail market, the top seven companies that mainly contributed to the turnover were HNB Rs 75.7 million (645,000 shares traded), Lanka IOC Rs 59.9 million (398,000 shares traded), Softlogic Capital Rs 35.1 million (3.9 million shares traded). Browns Investments Rs 31.3 million (5.8 million shares traded), Dialog Axita Rs 30 million (2.7 million shares traded), Melstacope Rs 28.7million (532,000 shares traded) and Softlogic Life Rs 25.7 million (344,000 shares traded). During the day 45.3 million share volume changed hands in 10000 transactions.
Yesterday bond yields opened higher and the rupee opened at 315/316 against the US dollar in the spot market, dealers said. A bond maturing on 01.09.2027 closed at 28.75/85 percent, steady from 28.60/90 percent at yesterday’s close.
A bond maturing on 15.05.2026 closed at 30.60/75 percent up from 30.50/75 percent at yesterday’s close. The rupee opened at Rs 315/316 against the US dollar in the spot market appreciated from the last close at Rs 317.50/318.50
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.”
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