Business
Construction sector counters witness some bounce
By Hiran H.Senewiratne
Construction sector related counters at the CSE slightly appreciated yesterday following the Central Bank announcement of a new lending rate cap for housing loans of 7 percent, stock market analysts said.
The Central Bank will introduce maximum interest rates on mortgage-backed housing loans for salaried workers from licensed banks and set lending targets for certain sectors in the near future in conformity with the policies of the government, Central Bank Governor Deshamanya Prof. W.D. Lakshman said while addressing the final monetary policy review press conference for this year. The press conference was held online yesterday.
Consequently, several construction sector related counters including, Royal Ceramic, Swisstec, Tokyo Cement, ACL Cables and Alumax shares slightly appreciated. It is said that Royal Ceramic increased by Rs. 1.10 or 1 percent, Swisstec by Rs. 2.40 or three percent, Tokyo Cement voting and non voting 3 percent, ACL Cables 3 percent and Alumax by 4 percent during the day.
In this context both indices also moved upwards slightly. The All Share Price Index went up by 6.33 points and S and P SL20 by 7.47 points. The turnover stood at Rs. 1,98 billion sans a single crossing.
In the retail market, companies that mainly contributed to the turnover were, Expolanka Rs. 175.9 million (6.9 million shares traded), Hayleys Fabrics Rs. 144.7 million (5.7 million shares traded), Dipped Products Rs. 142.4 million (429,000 shares traded), ACL Cables Rs. 123.7 million (1.8 million shares traded), Melstacorp Rs. 109.8 million (2.8 million shares traded), Tokyo Cement (Voting) Rs. 100 million (1.5 million shares traded) and Tokyo Cement (Non Voting) Rs. 100 million (1.77 million shares traded).During the day 69 million share volumes changed hands in 17616 transactions.
High net worth and institutional investor participation was noted in Dipped Products, JKH and Lion Brewery Ceylon. Mixed interest was observed in ACL Cables, Access Engineering and Tokyo Cement Company non-voting, while retail interest was noted in Expolanka Holdings, Kelani Tyres and Melstacorp.
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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