Business
Expectations over reaching debt restructuring requirements keep CSE in fine trim
By Hiran H.Senewiratne
Sri Lanka is engaging with bondholders and is optimistic about a positive outcome, while efforts were underway to finalize in-principle deals with official creditors, State Minister for Finance Shehan Semasinghe said.
Sri Lanka is expected to meet IMF debt restructuring requirements in the second quarter for a review to be passed by the lender’s board, he said.
Meanwhile, President Ranil Wickremesinghe said that he expected debt restructuring to be wrapped up by June–July before any elections are conducted, the State Minister told a meeting.
Due to bullish conditions that arose in the market against the backdrop of the above comments, both indices moved upwards yesterday. The All Share Price Index up by 74.17 points while S and P SL20 rose by 22.32 points. Turnover stood at Rs 2 billion with five crossings. Those crossings were reported in JKH, which crossed 250,000 shares to the tune of Rs 49.3 million; its shares traded at Rs 197.25, Hayleys 500,000 shares crossed for Rs 42.5 million; its shares traded at Rs 85, HNB 200,000 shares crossed for Rs 37 million and its shares sold at Rs 185, Access Engineering 1 million shares crossed to the tune of Rs 23.3 million; its shares fetched Rs 23.30 and Pan Asia Bank 1 million shares crossed for Rs 21.5 million; its shares sold at Rs 21.50.
In the retail market top seven companies that mainly contributed to the turnover were; CIC Holdings Rs 95.8 million (1.3 million shares traded), Hemas Holdings Rs 81 million (999,000 shares traded), NDB Rs 73.9 million (1 million shares traded), Sampath Bank Rs 73.5 million (935,000 shares traded), JKH Rs 71.7 million (364,000 shares traded) and First Capital Holdings Rs 68.9 million (1.9 million shares traded). During the day 73.4 million share volumes changed hands in 16000 transactions.
Yesterday the rupee was quoted at Rs 299.85/95 to the US dollar in the spot forex market, crossing the 300 mark after opening at Rs 299.90/300.00, dealers said.
The rupee closed at Rs 300.00/06. Bond yields were broadly steady. A bond maturing on 15.12.2026 was quoted stable at 11.30/40 percent. A bond maturing on 15.09.2027 was quoted at 11.85/12.00 percent from 11.90/12.05 percent. A bond maturing on 15.12.2028 was quoted stable at 12.10/20 percent.
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.”
