Business
Colombo Stock Exchange completes its 35th year
The licensed operator of the Sri Lankan stock market, the Colombo Stock Exchange (CSE) marked a historic milestone last week when it completed its 35th year.
Given the entrepreneurial spirit of the Sri Lankan people, the Colombo Stock Exchange builds on a share trading tradition that has existed in Sri Lanka for over a century. The business of share trading that commenced with plantation companies in 1896 continues to thrive today as a matured and vibrant stock market that mobilizes capital flows of over Rs. 300 billion a year.
The CSE in its present form was incorporated in 1985 and formed by seven (7) Stock Broker Firms as the Colombo Securities Exchange Guarantee Ltd, a company Limited by Guarantee marking a transformative shift in Sri Lanka’s financial services landscape.
The CSE is licensed by the Securities and Exchange Commission of Sri Lanka (SEC) and offers state-of-the art pre-trade, trade and post-trade platforms supported by a network of Stock Broker Firms which offer end-to-end digitalized trading solutions to a diversified pool of over 700,000 individual and institutional investors. A progressive journey with the combined efforts of all stakeholders has paved the way for many decisive and positive outcomes for the Sri Lankan capital market over the past 35 years.
The CSE has also been an active contributor in the international arena as a member of the World Federation of Exchanges and has on multiple occasions held the Chairmanship of the South Asian Federation of Exchanges, shaping capital market development policy and cooperation in the South Asian Region.
A bell ringing ceremony was organized on 3rd December 2020 to mark the occasion which was delivered to an audience that was 100% online, a first-of-its-kind event for bell ringing ceremonies at CSE considering the guidelines issued by health authorities to prevent the spread of COVID-19. The ceremony was organized on the theme ‘A Transformative past – A Vibrant Future’ and is a part of a series of initiatives organized by the CSE to mark the milestone.
Ajit Jayaratne a past chairman of the CSE and one of the Board members when the CSE was incorporated in its present form was the special guest at the event. Sharing his remarks Jayaratne commended the leadership of the Exchange and recognized the untiring efforts of all those who worked towards building the Stock Market to what it is today. He offered a unique perspective on the history of the CSE and shared memories of the transformative journey.
Commenting on the milestone, the Chairman of the CSE Dumith Fernando said “After 35 years of operations of the stock exchange we have leveraged on the combined expertise and experience of the industry to leap frog on multiple fronts. As we look towards a possible re-rating of the market upwards, what is on the cards are major market infrastructure developments, Product Diversification, widening of the investor base, building a sustainable business model and more importantly working with the Government and the regulator to position the CSE as a pivotal point for capital raising.”
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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