Business
Expolanka Holdings’ share transaction brings some hope to bourse
By Hiran H. Senewiratne
Sri Lanka’s shares fell in mid-day trade yesterday, pulled down by JKH, after opening firmer but ended on a negative note due to profit-takings. However, an Expolanka Holdings’ crossing or arranged transaction was a foreign buying, that enabled to create some hope in the market, stock market analysts said.
‘Predominantly, global markets are also not performing due to recessionary pressure and also because of the appreciation of the US dollar against other currencies, especially in the European Union, that has resulted in declines in other markets in the world, market analysts said.
‘If the recession prevails in Europe and other countries in the region, it would impact our export oriented companies. Because, buying behaviours of those countries would drastically change and at the end it will affect local exports as well, analysts added.
Amid those developments both indices moved downwards. The All- Share Price Index went down by 120.6 points and S and P SL20 declined by 34.7 points. Turnover stood at Rs 4.5 billion, with four crossings.
Crossings were reported in Expolanka Holdings, which crossed 7.5 million shares to the tune of Rs 1.7 billion and its shares traded at Rs 228, JKH 552,000 shares crossed to the tune of Rs 78.4 million, its shares traded at Rs 142, Dialog 6.8 million shares crossed to the tune of Rs 60.6 million, its shares fetched Rs 8.90 and Richard Pieris 883,000 shares crossed to the tune of Rs 29.3 million, its shares traded at Rs 33.20.
In the retail market top seven companies that mainly contributed to the turnover were, Lanka IOC Rs 464 million (1.6 million shares traded), Expolanka Holdings Rs 346 million (1.5 million shares traded), ACL Cables Rs 163 million (1.5 million shares traded), Renuka Agri Foods Rs 160 million (20.5 million shares traded), JKH Rs 91.3 million (148,000 shares traded), Richard Pieris Rs 89.4 million (2.8 million shares traded) and Aitken Spence Rs 79.1 million (599,000 shares traded). During the day 121 million share volumes changed hands in 27000 share transactions.
Yesterday, the Central Bank- announced dollar buying rate was Rs 359.18 and selling rate Rs 369.93. However, the Sterling Pound has fallen to a record low against the dollar as markets react to the UK’s biggest tax cuts in 50 years. In early Asia trade, the sterling slipped just US$ 1.04 before regaining some ground at around US $1.05.
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
