Business
Three regional telecom players show interest in SLT shares as latter appreciate
By Hiran H.Senewiratne
SLT shares in the stock market were active and tended to appreciate yesterday as three regional telecom players came out with Requests for Quotes to invest in the company. These developments are a part of the government’s strategy to divest State-Owned- Enterprises, analysts said.
Three investors have expressed interest in buying Sri Lanka Telecom shares to the island’s State-Owned Enterprises Restructuring Unit and those entities are: Jio Platforms Ltd, Gujarat, India, Gortune International Investment Holding Ltd, submitted by Capital Alliance Limited and Pettigo Comercio International LDA, submitted by NDB Investment Bank Ltd. Jio Platforms is a unit of Reliance Industries headed Mukesh Ambani and Pettigo is part of the Lycamobile Group headed by Allirajah Subashkaran in UK.
The proposals will be evaluated under Special Guidelines on Divestiture of State-Owned Enterprises approved by the Cabinet of Ministers in July 2023.
The share market reflected a degree of dullness because investors are worried that upcoming earnings would create some negative pressure on the market. Both indices moved downwards. The All- Share Price Index went down by 65.3 points while S and P SL20 declined by 19.16 points.
Turnover stood Rs 1.5 billion with four crossings. Those crossing were reported in Ceylinco Insurance, where 813,000 shares (Non-Voting) crossed to the tune of Rs 634 million; its shares traded at Rs 7.80, Melstacope’s 2.4 million shares crossed for Rs 211 million; shares traded at Rs 85, Hemas Holdings 750,000 shares crossed for Rs 51.7 million; its shares traded at Rs 69 and Marawila Resort 6.5 million shares crossed for Rs 21.4 million; its shares traded at Rs 3.30.
In the retail market top seven companies that mainly contributed to the turnover were, Ceylinco Insurance (Non- Voting) Rs 133 million (170,000 shares traded), Capital Alliance Rs 62.8 million (1.1 million shares traded), Lanka IOC Rs 38.6 million (379,000 shares traded), JKH Rs 37.2 million (199,000 shares traded), Browns Investments Rs 36.6 million (8.1 million shares traded), Commercial Bank Rs 33.3 million (365,000 shares traded) and SLT Rs 27.2 million (281,000 shares traded). During the day 37.6 million share volumes changed hands in 7600 share transactions.
Yesterday, the US dollar buying rate was Rs 317.35 and selling rate Rs 327.18.
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
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