Business
SLT shares record two-week high; business sentiment improves
By Hiran H.Senewiratne
The CSE gained yesterday after slipping for six sessions as investors bought beaten-down shares. However, this happened on thin volumes. The business sentiment had apparently improved due to low share prices caused by high activity levels by bargain-hunters, stock market analysts said.
“We may see the market move to green because the index fell continuously for close to a week. However, this is not an indication of a recovery as there’s a lot of selling pressure, an analyst said. But strong buying interest was noted in blue chip companies, including Lanka IOC, Expolanka Holdings, SLT and many more. SLT share prices recorded a two- week high due to discussions on restructuring state- owned enterprises, stock market analysts said.
Amid those developments both indices moved upwards. The All- Share Price Index went up by 223 points and S and P SL20 rose by 98.3 points. Turnover stood at Rs 1.5 billion with three crossings. The crossings were reported in Sunshine Holdings, which crossed 3.4 million shares to the tune of Rs 109.9 million, its shares traded at Rs 32, JKH 250,000 shares crossed to the tune of Rs 34.7 million, its shares traded at Rs 139 and Commercial Bank 652,000 shares crossed to the tune of Rs 32.6 million, its shares were priced at Rs 50.
In retail market trading, seven companies mainly contributed to the turnover. They were, Lanka IOC Rs 357 million (2.1 million shares traded), Expolanka Holdings Rs 157 million (1.2 million shares traded), Lankem Development Rs 112 million (3.9 million shares traded), Sunshine Holdings Rs 102.5 million (3.2 million shares traded), Ceylinco Holdings Rs 69.7 million (33000 shares traded), Dialog Rs 36.8 million (4.3 million shares traded) and SLT Rs 34.6 million (466,000 shares traded). During the day, 44.9 million share volumes changed hands in 16000 share transactions.
The Commercial Bank of Ceylon’s Rs. 5 billion debenture issue will open on December 1, 2022, offering investors an opportunity to profit from the growth of the Bank.
The Bank has announced plans to raise Rs. 5 billion via 50 million Basel III-compliant debentures with an option to increase it by another Rs. 5 billion in the event of an oversubscription, to further strengthen its Tier II capital base and raise funds for the expansion of its lending portfolio and to bridge maturity mismatches in the assets and liabilities portfolio of the Bank.
Yesterday, the Central Bank- announced US dollar buying rate was Rs 360.99 and the selling rate Rs 371.83. However, the inflation level is at a high rate of around 70 per cent.
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
