Business
CSE trading halts once again; indices dip
By Hiran H.Senewiratne
Regular trading at the CSE was temporarily halted for 30 minutes from 1.28 p.m. to 1.58 p.m yesterday as the S&P SL20 index dropped by 5 percent during the trading session. After the service breaker trigger, the market began to recover but during the latter part of the day, due to selling pressure, market recovery faded away, market analysts said.
It is said that the S&P SL20 index fell by 131.42 points to 2,898.37 and the All Share Price Index (ASPI) also fell by 268.30 points to 7,229.21.
Standard Chartered Bank and Barclays Bank – two global banks and managers of former international sovereign bonds (ISBs) – said they are “underweight” on Sri Lanka, flagging off concerns over the country’s debt sustainability, repayment and external reserves. Sri Lanka also began facing a crucial session of the UN Human Rights Council in Geneva, which negatively impacted investor sentiment.
Despite the negativity, CSE saw a welcome net foreign inflow of Rs. 42.3 million as against an outflow of Rs. 284 million on Friday. Year to date net foreign outflow has crossed the Rs. 12 billion mark.
Amid those developments, turnover stood at Rs. 2.83 billion with three crossings. Those crossings were reported in Sampath Bank, which crossed 500,000 shares to the tune of Rs. 78 million and its shares traded at Rs. 156, Commercial Bank 650,000 shares crossed for Rs. 56.7 million, its shares traded at Rs. 86 and Access Engineering one million shares crossed for Rs. 24 million, its shares trading at Rs. 24.
In the retail market, top five companies that mainly contributed to the turnover were, Expolanka Rs. 364.5 million (8.8 million shares traded), Browns Investments Rs. 286 million (52.2 million shares traded), Dipped Products Rs. 268 million (5.3 million shares traded), LOLC Rs. 209.6 million (573 million shares traded) and Haycarb Rs. 151.7 million (1.5 million shares traded). During the day, 134.4 million share volumes changed hands in 20206 transactions.
Sri Lanka’s rupee quoted stronger at 193.50/00 to the US dollar in the spot market on Tuesday, dealers said. The rupee last closed in the spot market at 193/194.25 to the dollar on Monday.
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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