Business
CSE’s main stock index dragged down by energy and financial sectors
By Hiran H.Senewiratne
The CSE’s main stock index fell in mid-day trade yesterday dragged down by the energy and financial sectors. The main reasons for the market to fall were worries over quarterly corporate results and gloomy micro economic factors, stock market analysts said. The main index moved down 73.6 points at the end of the session and most liquid indices fell 40.9 points .The market generated a turnover of Rs. 1 billion without a crossing. The turnover is less than the average daily turnover of Rs 3.2 billion generated this year.
In the retail market, top seven companies that mainly contributed to the turnover were; Expolanka Holdings Rs 143 million (873,000 shares traded), Lanka IOC Rs 137 million (704,000 shares traded), Browns Investments Rs 82.1 million (12.7 million shares traded), Richard Pieris Rs 65 million (2.2 million shares traded), Colombo Fort Land Rs 44.6 million (1.6 million shares traded), CIC Holdings Rs 36.3 million (401,000 shares traded) and CT Holdings Rs 36.5 million (151,000 shares traded). During the day 41.1 million share volumes changed hands in 14000 share transactions. Top losers were Lanka IOC, Browns Investments and Sampath Bank.
The foreigners recorded a net inflow of Rs. 193.1 million, while their participation increased to 8.4 per cent of turnover (previous day 4.9 per cent). Net foreign buying topped in JKH at Rs. 102.9 million and selling topped in LDEV at Rs. 3.5 million.
It is said buying momentum continued into yet another day, while the broad market witnessed a recovery as investor optimism grew, expecting the interest rates to come down. Active investor participation was noted on retail favourites Expolanka and LIOC, which aided in the recovery of the index during the day. Accordingly, the index displayed a sharp upswing and continued to climb higher to end the day at 8,802, while recording the highest intraday gain of 199 points in two-weeks. Yesterday the Central Bank- announced US dollar buying rate was Rs 360.63 and selling rate Rs 371.22.
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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