Business
Global stock markets decline by 5.2 per cent in 2022 third quarter
By Hiran H.Senewiratne
The MSCI World Stock Market Index reports that in the third quarter of this year ending September, Europe, Asian and US asset markets, namely commodity and equity markets, dropped notably. The Index further reveals that global stock markets declined by 5.2 per cent in the third quarter of this year, stock analysts said.
The MSCI World Index is a broad global equity index that represents large and mid-cap equity performance across all 23 developed markets. It covers approximately 85 per cent of the free float-adjusted market capitalization in each country.Apart from stock markets, gold prices indicated an 8.3 per cent drop. The US dollar rate appreciated in the third quarter of this year, market analysts said.
Yesterday the CSE was sluggish due to month- end, weekend and quarter- end taking of profits from the CSE. Both CSE indices moved downwards. The All- Share Price Index went down by 20.4 points and S and P SL20 declined by 6.8 points. Turnover stood at Rs 2.5 billion with eight crossings.
Those crossings were reported in Commercial Bank, where 1.1 million shares crossed to the tune of Rs 10.2 million, its shares traded at Rs 55, LOLC Finance 11.9 million shares crossed for Rs 100 million and its shares traded at Rs 8.40, JKH 600,000 shares crossed to the tune of Rs 82.8 million, its shares fetched Rs 138, Hunas Falls 900,000 shares crossed to the tune of Rs 36 million, its shares traded at Rs 40, Lanka IOC 120,000 shares crossed to the tune of Rs 34.6 million, its shares traded at Rs 288, Agstar PLC 1.8 million shares crossed to the tune of Rs 39.7 million and its shares fetched Rs 16.50, CIC Holdings (Non- Voting) 400,000 shares crossed to the tune of Rs 28 million, its shares were sold at Rs 70 and CIC (Voting) 250,000 shares crossed to the tune of Rs 21,2 million shares; its shares fetched Rs 85.
In the retail market top seven companies that mainly contributed to the turnover were, Lanka IOC Rs 225 million (785,000 shares traded), Expolanka Holdings Rs 173 million (800,000 shares traded), CIC Holdings (Voting) Rs 153 million (1.7 million shares traded), CIC Holdings (Non- Voting) Rs 118 million (1.7 million shares traded), LOLC Finance Rs 82.3 million (9.3 million shares traded), Lanka Wall Tiles Rs 72.4 million (862,000 shares traded) and ACL Cables Rs 66.8 million ( 582,000 shares traded). During the day 99.4 million share volumes changed hands in 25000 transactions.
Aberdeen Holdings, a diversified conglomerate based in Sri Lanka, sold 5 per cent of its stake in Expack Corrugated Cartons for Rs. 282.5 million with a total of 16.6 million shares changing hands via 118 trades. Prices ranged from Rs. 17 to Rs. 17.60 per share. In total 21.2 million shares changed hands via 978 trades for Rs. 363 million.
The sale of Expack shares comes in the form of a strategic rebalancing of the investment portfolio of Aberdeen Holdings. Yesterday the Central Bank- announced US dollar buying rate was Rs 359.16 and the selling rate Rs 369.91. The rupee rate has become stable against the US dollar due to the Central Bank’s prudential economic policies, financial sources said.
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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