Business
News of Indian Finance Minister’s visit to SL brightens bourse
By Hiran H.Senewiratne
CSE trading was enveloped in some gloom in the early hours of yesterday but brightened up following news of an official visit to Sri Lanka by Indian Finance Minister Nirmala Sitharaman, market analysts said.
The All- Share Price Index went up by 141.12 points and S and P SL20 rose by 51.59 points. Turnover stood at Rs 788 million with a crossing in Melstacorp, which crossed 1.5 million shares to the tune of Rs 120 million; its shares traded at Rs 80.
The Lanka IOC share price also gained seven percent when the Indian Finance Minister’s visit was announced and the turnover is largely made up of the crossing on Melstacorp, which owns Distilleries. “Other than that, of course, the overall turnover is significantly low,” an analyst said.
In the retail market top seven companies that mainly contributed to the turnover were; Lanka IOC Rs 138 million (1.2 million shares traded), JKH Rs 87.9 million (457,000 shares traded), Ceylon Grain Elevators Rs 38.5 million (227,000 shares traded), Browns Investments Rs 32.8 million (6.4 million shares traded), Ceylinco Insurance Rs 29.5 million (36000 shares traded), Capital Alliance Rs 19.1 million (351,000 shares traded) and Sampath Bank Rs 18.8 million (287,000 shares traded).
Other than Lanka IOC which saw gains in mid-day trading, other gainers during morning trade included banking and diversified financial sector companies led by Sampath Bank, Commercial Bank, Central Finance and Hatton National Bank. “Month-end selling has died down, and we have seen some positivity on LIOC after their quarterly results came out, finance sources said.
The food, beverage and tobacco industry was contributing the most to turnover, followed by the capital goods sector.
It is said high net worth and institutional investor participation was noted in JKH, Dialog Axiata and Aitken Spence. Mixed interest was observed in Ceylon Grain Elevators, Lanka Milk Foods and Lanka IOC, while retail interest was noted in Browns Investments, People’s Leasing & Finance and LOLC Finance.
The Capital Goods sector was the top contributor to the market turnover (due to JKH and Aitken Spence), while the sector index lost 0.26 percent. The share price of JKH decreased by 25 cents to settle at Rs. 192.25. The share price of Aitken Spence recorded a loss of Rs. 1.75 to settle at Rs. 128.
The Food, Beverage & Tobacco sector was the second highest contributor to the market turnover (due to Ceylon Grain Elevators and Lanka Milk Foods) while the sector index edged up by 0.07 percent. The share price of Ceylon Grain Elevators moved up by Rs. 1.75 to reach Rs. 166. The share price of Lanka Milk Foods appreciated by Rs. 3.25 to hit Rs. 166.
Yesterday the US dollar buying rate was Rs 322.34 and selling rate Rs 332.63.
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
