Business
CSE turns volatile in the wake of global market pressures
By Hiran H.Senewiratne
The CSE edged up in the first hour and half of trade but turned a bit volatile due to global market inflationary and recessionary pressures and on account of the inability on the part of the relevant authorities to give a proper timeline for an IMF bailout for Sri Lanka due to delays in the debt restructuring process, stock market analysts said.
It is said that global equity markets are not positive due to heavy inflationary and recessionary worries. The UK government’s 50 per cent tax cut to absorb those pressures does not provide ample relief for the country and the Sterling Pound is now heavily depressed against the US dollar, stock analysts said.Both CSE indices moved downwards. The All- Share Price Index went down by 7.4 points and S and P SL20 down by 15.6 points. Turnover stood at Rs 3.4 billion with six crossings.
Those crossings were reported in LOLC Finance where 20 million shares crossed to the tune of Rs 168 million; its shares traded at Rs 8.40, Lanka IOC 300,000 shares crossed for Rs 84.9 million and its shares traded at Rs 283, JKH 572,000 shares crossed to the tune of Rs 79 million, its shares traded at Rs 138, Expack Corrugated Cartons 3.7 million shares crossed for Rs 62,9 million, its shares traded at Rs 17, CIC Holdings 600,000 shares crossed to the tune of Rs 51 million and its shares fetched Rs 85 and Lanka Wall Tiles 500,000 shares crossed to the tune of Rs 41.3 million, its shares traded at Rs 82.50.
In the retail market top seven companies that mainly contributed to the turnover were; Expack Corrugated Cartoons Rs 300 million (17.5 million shares traded), Lanka IOC Rs 279 million (986,000 shares traded), Lanka Wall Tiles Rs 198 million (2.3 million shares traded), Expolanka Holdings Rs 175 million (797,000 shares traded), CIC Holdings Rs 163 million (1.9 million shares traded), ACL Cables Rs 123 million (1.1 million shares traded ) and Lanka Tiles Rs 102 million (1.5 million shares traded). During the day 214 million share volumes changed hands in 30000 share transactions.Yesterday, the Central Bank announced the daily US dollar rate. The buying rate was Rs 359.16 and the selling rate Rs 369.91.
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
