Business
CSE bullish on Chinese loan news
By Hiran H.Senewiratne
CSE trading activities were somewhat bullish throughout yesterday following the positive news on the Chinese government-backed twitter page ‘BRISL’,on the much awaited Chinese loan of US $ 500 million and currency swap of around another US $ 600 million, stock market analysts said.
The market went through a dip last week and as a result a group of long-term equity investors expressed optimism of an improved outlook for the CSE as well as the economy following a meeting with State Minister of Money, Capital Markets and Public Enterprises Reform Nivard Cabraal on Saturday.
It is said that the stock market has lost Rs. 705 billion in value since the end of January. The All Share Price Index had declined by 1,614 points or 18.6 percent and the S&PSL20 had dipped by 723 points or 20.5 percent between February 1 and March 5.
In January, the Colombo Bourse rose to dizzy heights with market capitalisation swelling by Rs. 829 billion on the back of ASPI gaining by 28 percent and the S&PSL20 shooting up by 33 percent. Year to date the ASPI is up 4 percent and S&PSL20 up 5.8 percent.
Amid those developments both indices moved upwards. All Share Price Index was up yesterday by 285.2 points and S and S and P SL20 went up by 131/29 points. The turnover stood at Rs. 2.7 billion with a single crossing. The crossing was reported in Seylan Bank (Non Voting) which crossed 500,000 shares to the tune of Rs. 22 million, its shares traded at Rs. 44.
In the retail market top five contributors to the turnover were, Expolanka Rs. 395.9 million (8.45 million shares traded), Dipped Products Rs. 315.7 million (6.62 million shares traded), LOLC Holdings Rs. 264.6 million (815,000 shares traded), Browns Investments Rs. 201.2 million (36.7 million shares traded) and JKH Rs. 189. 5 million (1.26 million shares traded). During the day 93.7 million share volumes changed hands in 23640 transactions.
Sri Lanka’s rupee was quoted steady at 196.75/197.00 levels to the US dollar in the one-week forwards market on Monday while bond yields remained unchanged, dealers said. The rupee last closed in the one- week forward market at 196.60/197.00 to the dollar on Friday.
In the secondary market bond yields remained unchanged while the overall market witnessed dull activity, dealers said.
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
