Business
Govt. debt increased by Rs. 2.3 trillion within 11 months
LKR depreciates against US dollar by 25.2 percent
Outstanding central government debt increased to Rs. 17,413.7 bn by end November 2021 from Rs. 15,117.2 bn as at end 2020, according to data given by the Central Bank of Sri Lanka.
During the year up to 18th March 2022, the Sri Lankan rupee depreciated against the US dollar by 25.2 per cent, the Central Bank said.
“Given the cross currency exchange rate movements, the Sri Lankan rupee depreciated against the Indian Rupee by 23.6 per cent, the
Euro by 23.6 per cent, the pound sterling by 23.2 per cent and the Japanese yen by 22.8 per cent during this period,” the Weekly Economic Indicators report issued by the Bank said.
It further said: “The reserve money increased compared to the previous week mainly due to currency in circulation. The total outstanding market liquidity was a deficit of Rs. 613.226 bn by the end of last week, compared to a deficit of Rs.703.572 bn by the end of last week.”
“By 18th March 2022, the All Share Price Index (ASPI) decreased by 3.03 per cent to 10,353.83 points and the S&P SL 20 Index decreased by 1.91 per cent to 3,585.47 points, compared to the index values of the previous week.”
“During the period under review (12.03.2022 to 18.03.2022), crude oil prices showed mixed performance. At the beginning of last week, oil prices fell on optimism that there would be a diplomatic end to tensions between Russia and Ukraine. Demand concerns on lockdowns in China also weighed negatively on prices. However, prices increased toward the end of the period under review on heightened investor uncertainties about the stalled progress in Russia-Ukraine peace negotiations. Overall, Brent and WTI prices decreased by US dollars 0.69 per barrel and US dollars 0.97 per barrel respectively, during the period.”
“Weekly AWPR for the week ending 18th March 2022 increased by 33 bps to 9.46 per cent compared to the previous week. Sustaining the expansion on a M-o-M basis, the Purchasing Managers’ Indices for both Manufacturing and Services activities increased in February 2022, recording 52.5 and 51.8 index values, respectively.
IIP in January 2022 decreased by 7.1 per cent to 100.5 compared to January 2021. Among the major sub divisions of the manufacturing industries, “coke and refined petroleum products” (92.9 per cent) has mainly contributed to this overall decrease,” Central Banks Weekly Economic Indicators showed.
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
