Business
Net foreign purchases of JKH stocks become highlight of CSE trading
By Hiran H.Senewiratne
CSE trading was characterized by a degree of dullness but foreign investor participation reached a satisfactory level, garnering a net foreign inflow of more than Rs 3 billion a- year- to- date, yesterday. Net foreign purchases for JKH stocks became notable during the last few days, stock market analysts said.
Stepped-up foreign investor participation in Sri Lanka’s stock trading was due to the rupee devaluation against the US dollar. In that context, local valuable stocks/ blue chip shares are cheap when compared to stocks in the region, analysts said.
However, investors are worried over domestic debt restructuring issues, these analysts added.
Amid those developments both indices moved downwards. The All- Share Price Index went down by 23.89 points and S and P SL20 went down by 0.54 points. Turnover stood at Rs 1.4 billion with three crossings. Those crossings were reported in JKH, which crossed 710,000 shares to the tune of Rs 101.9 million, its shares traded at Rs 143.50, Lanka Wall Tiles 1.9 million shares crossed to the tune of Rs 99.9 million, its shares traded at Rs 53, Nations Trust Bank 351,000 shares crossed for Rs 20 million; its shares fetched Rs 57.
In the retail market top seven companies that mainly contributed to the turnover were, Softlogic Life Insurance Rs 186 million (1.4 million shares traded), Aitken Spence Rs 159 million (one million shares traded), TJ Lanka Rs 116 million (3.3 million shares traded), JKH Rs 106 million (702000 shares traded), Softlogic Capital Rs 78.4 million (4.8 million shares traded), Lanka IOC Rs 65 million (339,000 shares traded) and Expolanka Holdings Rs 57.2 million (310,000 shares traded). During the day 40.28 million share volumes changed hands in 13000 share transactions.
Sri Lanka still needs adequate assurances from other bilateral creditors for its program to be approved, especially China, the IMF said, after Paris Club lenders said they will restructure debt.
“We welcome the recent statement by the Paris Club to provide financing assurances to Sri Lanka following the assurances provided by India, an IMF spokesperson said.
“Sri Lanka continues to engage with official bilateral creditors to obtain financing assurances and also continues to advance domestic reforms. If the IMF bail- out is finalized the investor sentiment will improve, especially that of foreign investors, market analysts said.Yesterday, the Central Bank’s US dollar buying rate against the rupee was Rs 359,07 and the selling rate Rs 370.24
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
