Business
CSE indices rise in the wake of reports of Sri Lanka’s strengthening reserves
By Hiran H.Senewiratne
CSE trading activities indicated negative sentiments during the early session of yesterday but later turned positive when Bangladesh said that they are to release a further $ 150 million out of the $ 200 million to Sri Lanka under the swap arrangement. Another $300 million is to come from the Chinese Development Bank, analysts said.
Amid those developments both CSE indices rose. ASPI went up by 142.60 points and the S and P SL20 rose by 65.36 points. Turnover stood at Rs. 10.80 billion with five crossings. Those were, Ambeon Holdings 200 million shares crossed for Rs. 100 million and its shares traded at Rs. 50, John Keells Holdings 500,000 shares crossed at Rs. 65 million, its shares traded at Rs. 130, Windforce 3.5 million shares crossed for Rs. 63.7 million, its shares traded at Rs. 18.20, Sampath Bank 590,000 shares crossed for Rs. 30.2 million, its shares fetched Rs. 51.50 and Sanasa Development Bank 405,000 shares crossed for Rs. 20 million, its shares traded at Rs. 49.50.
The retail tradings top five contributors were, Expolanka Holdings Rs. 4.9 billion, Browns Investments Rs. 1.78 billion, LOLC Holdings Rs. 717 million, Dipped Products Rs. 493 million and Hayleys Rs 458 million. During the day 228 million shares changed hands in 51000 trades.
Sri Lanka’s Central Bank had published an indicative spot rate of 210 to the US dollar on August 31, while adjusting a rate for telegraphic transfers in its website to widen the margin while banks published rates of Rs. 220/226. Sri Lanka does not have a functioning interbank spot market at the moment and banks are negotiating with importers and exporter over the counter leading to large margins in many cases, market participants say. The Central bank on Tuesday published a rate of 198.90/204.89 for telegraphic transfers on its website.
CSE has requested a root cause analysis from system provider Iron One Technologies Ltd., regarding a disruption to the order management system provided to four stockbroker firms during trading yesterday, which resulted in trading difficulties to clients of these firms.
“System providers are an integral element of a technologically-driven, smoothly functioning capital market, especially in the perspective of investor accessibility, the CSE said in a statement.
“The CSE therefore stresses the importance of system providers taking all possible proactive and preventative measures to provide seamless services and access to investors, it 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
