Business
IMF-SL staff-level agreement sends positive vibes to share market
By Hiran H.Senewiratne
Stock market trading turned positive yesterday after the IMF and Sri Lankan authorities achieved a staff-level agreement on economic policies the previous day, marking a significant step in concluding the second review of the 4-year Extended Fund Facility (EFF)-supported program.
Further, President Ranil Wickremesinghe made a positive comment at a meeting held this week to the effect that Sri Lanka’s economy will become stable during the months of June and July. This also created a positive investor sentiment in the market. He made these remarks during his attendance at the inauguration ceremony of the Bodhigara and Golden Fence, constructed near the historic Mangedara Tempita Viharaya in Kegalle.
The All Share Price Index went up by 84.88 points while S and P SL20 rose by 41.76 points. The turnover stood at Rs 1.5 billion with three crossings. Those crossings were reported in Sampath Bank, which crossed 900,000 shares to the tune of Rs 67.5 million; its shares traded at Rs 75, NTB 499,000 shares crossed for Rs 52.1 million; its shares traded at Rs 104.50 and Windforce 1.3 million shares crossed for Rs 25.4 million; its shares traded at Rs 19.60.
In the retail market top seven companies that mainly contributed to the turnover were; Hayleys Rs 210 million (2.5 million shares traded), HNB Rs 97.8 million (591,000 shares traded), Chevron Lubricants Rs 66.5 million (627,000 shares traded), Vallibel One Rs 65.5 million (1.3 million shares traded), JKH Rs 59.70 million (316,000 shares traded), Royal Ceramic Rs 50.3 million (1.6 million shares traded), and ACL Cables Rs 48.5 million (588,000 shares traded). During the day 44.9 million share volumes changed hands in 12000 transactions.Yesterday, the US dollar buying rate was Rs 298.99 and selling rate Rs 308.69.
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
