Business
Unproductive APC talks seen as affecting bourse negatively
By Hiran H.Senewiratne
The CSE produced mixed sentiments yesterday as turnover and market activities were below average. The stock market started on a positive note but subsequently selling pressure was noted. However, during the latter part of trading some recovery was indicated but it was not sufficient for the market to move upwards, stock market analysts said.
The absence of a productive decision from the All- Party Conference headed by President Gotabaya Rajapakse and the deteriorating local economic situation created sluggish investor sentiment, market analysts said.
Amid those developments, the All- Share Price Index went down by 32.93 points and S and P SL20 declined by 3.38 points. Turnover stood at Rs 1.37 billion with three crossings. Those crossings were reported in Expolanka Holdings, which crossed 200,000 shares to the tune of Rs 52 million, its shares traded at Rs 260, Ambeon Holdings 1.02 million shares crossed for Rs. 38.9 million, its shares traded at Rs 38 and Asiri Hospital Holdings 500,000 shares crossed to the tune of Rs 20.5 million, its shares fetched Rs 41.
In the retail market top seven companies that mainly contributed to the turnover were, JKH, Rs 375.9 million (2.39 million shares traded), Browns Investments Rs 144,9 million (13.9 million shares traded), Expolanka Holdings Rs 123.2 million (484,000 shares traded), Lanka IOC Rs 49.3 million (1.2 million shares traded), SMB Leasing Rs 48.9 million (47.5 million shares traded), LOLC Finance Rs 43.5 million (2.7 million shares traded) and Hayleys Rs 32.2 million (325,000 shares traded). During the day 88.4 million share volumes changed hands in 12825 transactions.
It is said that foreigners recorded a net inflow of Rs. 14.7 million while their participation remained flat at 2.0 per cent of turnover (previous day 2.9 per cent). The turnover was led by Capital Goods, followed by Diversified Financials sectors accounting for a joint contribution of 48 per cent.
The Central Bank yesterday put restrictions on forward deals on foreign exchange.
In a directive under the Banking Act CSBL Governor Nivard Cabraal said that forward sales and purchases of foreign exchange by commercial banks are revoked for exporters. However, the facility is allowed for importers. CBSL guided US dollar exchange rates yesterday were $ 272.07/282.50.
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.”
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