Business
Major shipping line MSC in temporary pull out from SL
By Hiran H.Senewiratne
CSE activities were sluggish and flat yesterday due to the absence of positive things to drive the market owing to the Covid 19 pandemic situation, market observers said.
It is said that major shipping line MSC had decided to temporarily pull out of Sri Lanka due to a long delay in Colombo port handling operations. As per Customs statistics, earnings from merchandise exports recorded a negative growth of 14.9 percent in October 2020 down to US $ 831.72 million as compared to $ 977.3 million a year earlier. This has created a lull in the market, stock market analysts said.
MSC will go to Dubai and Singapore ports thus diverting revenue from Colombo port. At present a huge backlog is prevalent in the port, market analysts said.
Consequently, both CSE indices evinced mixed reactions. The All Share Price Index went down by 1.37 points and S and P SL20 rose by 11.26 points. Turnover stood at Rs. 1.39 billion with four crossings.
Those crossings were reported in Sampath Bank, where 560,000 shares crossed for Rs. 69.7 million, per share value being Rs. 124.50, CTC 69,500 shares crossed for Rs. 67.8 million, a share trading at Rs. 960, Renuka Hotel 462,000 shares crossed for Rs. 30 million, its per share value being Rs. 65 and Aitken Spence 500,000 shares crossed for Rs. 23.3 million with its shares trading at Rs. 46.50.
In the retail market, top five contributors to the turnover were; Expolanka Rs. 160 million ( 6.2 million shares traded), Hemas Hotel Rs. 132 million (1.7 million shares traded), Dipped Products Rs. 87.5 million (270,000 shares traded), Sampath Bank Rs. 60.8 million (488,000 shares traded) and Tokyo (Non Voting) Rs. 56.5 million (1.08 million shares traded). During the day 58.4 million share volumes changed hands in 15785 transactions.
Sri Lanka rupee quoted weaker at 184.90/185.15 to the US dollar in the spot market on Monday, while gilt yields were flat in dull market trade, dealers said. The rupee closed at 184.75/80 to the US dollar on Friday.
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
