Business
Decline in world maize prices has energizing impact on bourse
By Hiran H. Senewiratne
The CSE evinced mixed reactions yesterday due to selling pressure noted in banking sector counters. But on top of that, poultry sector counters were buoyant due to a price decline in world maize prices, market analysts observed.
Global maize (corn) prices ended the second quarter of 2023 in a downward trend, which was accompanied by a significant decline in global demand and retarded production momentum. This has positively impacted the poultry industry not only globally but in Sri Lanka as well. Due to the price decline in maize prices, most listed poultry sector counters too performed well in the stock market, market analysts said.
The All- Share Price Index went down by 4.14 points and S and P SL20 declined by 3.12 points. Turnover stood at 1.65 billion with three crossings. Those crossings were reported in Sampath Bank, which crossed 700,000 shares to the tune of Rs 50 million; its shares traded at Rs 71.70, JKH 250,000 shares crossed for Rs 45 million and its shares sold at Rs 180 and Grain Elevators 120,000 shares crossed to the tune of Rs 20.4 million; its share fetched Rs 170.
In the retail market top seven companies that mainly contributed to the turnover were; Asian Hotel Properties Rs 173 million, 93.2 million shares traded, Grain Elevators Rs 169 million (990,000 shares traded), Capital Alliance Rs 95.3 million (1.2 million shares traded), JKH Rs 93.4 million (519,000 shares traded), Lanka IOC Rs 86 million (756,000 shares traded), Chevron Lubricants Rs 59.3 million (631,000 shares traded) and NTB Rs 52.2 million (470,000 shares traded). During the day 47 million share volumes changed hands in 15893 transactions.
Yesterday the rupee opened at Rs 323.85/324.25 to the US dollar after closing at Rs 324.00/25 to the US dollar the previous day, dealers said.
A bond maturing on 01.05.2028 was quoted up at 14.75/95 percent on Tuesday after closing at 13.90/14.10 percent on Monday. A bond maturing on 15.09.2027 was quoted stable at 14.50/15.30 percent after closing at 14.50/15.00 percent. A bond maturing on 15.05.2026 was quoted at up at 15.60/16.00 percent after closing at 15.55/16.00 percent on Friday.
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
