Business
CSE moves up in the wake of positive quarterly corporate results
By Hiran H.Senewiratne
The CSE moved up 0.7 per cent within the first hour of trading yesterday on recovering from a previous session’s fall, triggered by the releasing of positive quarterly results and the announcing of dividends by several companies.However, owing to the month-end profit takings in certain companies and the possible corporate/individual tax hikes in the upcoming interim budget, which created some worries for investors, the market at times reflected a declining trend yesterday, stock market analysts said.Further, the announcements by India and Japan to assist Sri Lanka in overcoming its balance of payments crisis also created some positive impact on the stock market yesterday, market analysts said.
“There is selling pressure coming in on the banking and finance shares, while there are positive sentiments from the plantation sector, a top market analyst said.
The most liquid index S&P SL20, after hovering in the red, gained 0.57 per cent or 15.33 points. The market generated a turnover of Rs 1.5 billion without a crossing.
In the retail market, top five companies that mainly contributed to the turnover were; Browns Investments Rs 518 million (49.5 million shares traded), Expolanka Holdings Rs 186 million (823,000 shares traded), LOLC Finance Rs 99.7 million (10.1million shares traded), Lanka IOC Rs 84.6 million shares traded), JKH Rs 66.6 million (531,0000 shares traded), LOLC Holdings Rs 47.8 million (76,000 shares traded), and Watawala Plantations Rs 45.8 million (416,000 shares traded).
During the day 103 million share volumes changed hands in 17000 transactions. In the meantime, Watawala Plantation announced a Rs 8 dividend for every share for its shareholders. Further, due to the cement shortage and resultant exorbitant prices, construction sector counters have been affected. Consequently, the tile sector is badly affected, market sources said.Sri Lanka’s commercial banks quoted Rs 364.5 against the dollar for telegraphic transfers yesterday, while the Central Bank’s interbank spot trade was at Rs 359.25 under a daily guidance rate. Commercial banks were quoting Rs 354.5/364.5 for telegraphic transfer dollars on Friday. On the previous day, the Central Bank guidance margin was set at plus Rs. 2.50 or minus Rs 3.00.On the previous day the interbank spot was at Rs 359.9.
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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