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Monday November 9th, 2026

Low female participation in Sri Lanka’s ICT sector calls for action – IPS

ECONOMYNEXT – The participation if women in Sri Lanka’s ICT industry is low with females holding only 34 percent of the jobs in the sector, policymakers and organizations should consider establishing female friendly policies to encourage more participation of women, the Institute of Policy Studies, a Colombo-based think tank has said.

The full statement is reproduced below;

DigitALL: Are Sri Lankan Women Abandoned in Digital Transformation?

By Lakshila Wanigasinghe

Written for International Women’s Day on 08 March 2023.

Technology plays an important role in modern society. It connects, innovates, and transforms economies and societies at large. Yet, women and girls continue to have limited access to technology. This gender bias is also present in Sri Lanka, where women comprise of over 50% of the population.

This year, the United Nations marks International Women’s Day with the theme “DigitALL: Innovation and technology for gender equality”, focusing on the digital gender gap’s impact on widening socio-economic inequalities. This blog explores the factors hindering Sri Lankan women’s access to technology and discusses some ways to overcome them.

Digital Gender Divide

The term digital gender divide refers to the gap in digital adoption and use across genders. Findings suggest that more than half of all women worldwide are offline. The gender gap in digital access is wider across developing countries, where the internet penetration rate is 53% and 41% for adult men and women respectively.

COVID-19 emphasised the importance of technology as many government services, education, business, and financial services were performed online during this time. It also confirmed that many groups not only lack access to the digital economy but also resources, technology, and knowledge. In Sri Lanka, only one out of five households owned a desktop or laptop computer in 2021. Less than half of the population used the internet, and email users were even fewer. While Sri Lanka reported a digital literacy rate of 57.2% in 2021, the computer literacy rate was only 34.3%, with females falling behind in both aspects (Figure 1).

Figure 1 – Digital and Computer Literacy Rates, 2021

Although Sri Lanka’s higher rate of digital literacy comes across as a positive indicator, it is important to note that the measure for digital literacy is an individual’s ability to ‘use a computer, laptop, tablet or smartphone on his/her own.’ However, this measure may not fully reflect true digital literacy as it can also include those who only use smartphones for voice calls. Even against this measure, it is evident that women are underrepresented.

The digital gender divide adversely impacts women’s access to education, health, and financial inclusion. Women and girls face various obstacles, including the limited availability, knowledge, and socio-cultural barriers, which prevent them from fully utilising digital resources. Another deterrent is the high costs associated with digital devices and internet services, especially for rural households. Sri Lanka’s rural and estate sectors lag in digital and computer literacy in comparison to the urban sector. This is likely to have a more significant impact on girls and women in these regions. Further, digital safety concerns relating to cybercrimes, online harassment, greater potential for hate speech, and the overall lack of accountability for such actions discourage some women from using technology entirely.

Closing the Gap

Enhancing Employability Prospects – In today’s growing digital era, the absence of digital literacy and usage will reduce women’s employability prospects further widening gender inequalities. Hence addressing it is crucial to narrowing economic and social inequalities. As the job market shifts towards highly skilled positions, women must adapt and prepare to remain competitive. It can be expected that these jobs will increase more formal employment opportunities and secure forms of income generation. Currently, only 34% of ICT jobs in Sri Lanka are held by females. Increasing female representation the sector will also contribute towards having more role models for girls interested in pursuing similar fields in the future. Thus, shattering the glass ceiling requires immediate action to close the digital gender divide in the long run.

Gender Equality at Work – To address the existing gender bias, policymakers and organisations must work together to establish ‘female-friendly’ policies and programmes. Making women feel welcome and empowered is a good starting point. While addressing gender stereotypes is important, they also need to be coupled with other facilities such as safe transport and flexible work schedules to encourage more women to apply for positions in male dominated fields. This would not only increase the number of women in the field but also help women receive family support to pursue careers in technology.

Empowering Rural Women – It is necessary to provide equal opportunities for women in tech and allow them to grow so that their success can inspire other women to follow suit. This also includes bridging the urban-rural divide in technology access. Hence introducing rural women to digital technology, formal banking and digital financial solutions is important. This could also include specialised training and loan schemes for females interested in entering the technology field. Improving women’s access opens up opportunities for secure financing and a path out of poverty -by engaging in various businesses, especially at a time when e-commerce is popular. These positive economic outcomes can be a game changer for rural female-headed households and Sri Lanka as a whole. Moreover, they can provide small businesses access to international markets if done correctly.

Skill Improvements – Survey findings link higher educational attainment and knowledge in English to greater computer literacy in Sri Lanka. Thus, promoting higher education and English literacy among girls from a young age will prove mutually beneficial in improving computer literacy rates. While ICT is included in the current school curriculum, what is taught at the mandatory level is inadequate. Therefore, it is essential that policymakers update the subject matter to meet the growing digital demand. In line with this, disparities in resource allocations at the school level must also be addressed (such as inadequate availability of computers in smaller schools, absence of computer labs etc.). Encouraging girls to pursue Science, Technology, Engineering and Mathematics (STEM) is critical because ‘there won’t be any women in tech without girls in STEM.’

Given Sri Lanka’s current economic standing, it is also important to consider resource allocations. This is especially concerning allocating funds towards distributing computers to less-developed schools, organising training programs for rural women etc. While these are essential measures in bridging the digital gender gap, implementing any initiatives in stages is best. This will provide a better mechanism to monitor the impact of actions on closing the gap and help adjust course as necessary, without unnecessary waste of scarce resources.

Link to original blog: https://www.ips.lk/talkingeconomics/2023/03/08/digitall-are-sri-lankan-women-abandoned-in-digital-transformation/

Lakshila Wanigasinghe is a Research Officer at the IPS with research interests in poverty, social welfare, development, education, and health. She holds an MSc in Economics with a concentration in Development Economics and a BA in Economics with concentrations in International, Financial and Law and Economics from Southern Illinois University Carbondale (SIUC), US. (lakshila@ips.lk)

Sri Lanka rupee closes at 332.53/59 to US dollar spot, bond yields edge up

ECONOMYNEXT – Sri Lanka’s rupee closed at 332.53/59 to the US dollar spot on Monday, from 332.55/60 the previous day, while bond yields closed higher, dealers said.

A bond maturing on 15.09.2029 closed at 190/98 percent, up from 10.85/95 percent.

A bond maturing on 01.08.2030 closed at 11.07/12 percent, up from 11.05/10 percent.

A bond maturing on 01.02.2031 closed at 11.30/40 percent, up from 11.10/15 percent.

A bond maturing on 15.12.2032 closed at 11.65/70 percent, up from 11.55/65 percent.

A bond maturing on 01.11.2033 closed at 11.95/12.00 percent, up from 11.90/95 percent.

A bond maturing on 15.10.2034 closed at 12.10/15 percent, up from 12.05/12 percent.

A bond maturing on 15.08.2036 closed at 12.40/50 percent, up from 12.30/40 percent. (Colombo/Nov9/2026)

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Sri Lanka stocks close up 1.37-pct, banks lead turnover

ECONOMYNEXT – Sri Lanka’s Colombo Stock Exchange closed up on Monday, CSE data showed, with the benchmark All Share Price Index moving up 1.37 percent.

The ASPI was up 291.72 points at 21,531.37, while the more liquid S&P SL20 was up 1.67 percent, or 100.96 points, at 6,146.34.

Positive contributors to the ASPI were Commercial Bank of Ceylon (up 2.86 percent at 216.00 rupees), Hatton National Bank (up 1.52 percent at 399.75 rupees), Asiri Hospital Holdings (up 12.86 percent at 31.60 rupees), Tokyo Cement Company (up 5.22 percent at 84.70 rupees), and Access Engineering (up 3.93 percent at 81.90 rupees).

Carson Cumberbatch (down 4.24 percent at 712.00 rupees), Richard Pieris and Company (down 2.43 percent at 28.10 rupees), LOLC Holdings (down 0.62 percent at 400.00 rupees), Renuka Holdings (down 2.63 percent at 37.00 rupees), and Chevron Lubricants Lanka (down 0.61 percent at 204.25 rupees) were top negative contributors.

Market turnover was 3.33 billion rupees. The S&P/CSE Banks Industry Group led turnover with 667.76 million rupees.

The session saw heavy crossings, according to Raynal Wickremeratne, Head of Research and Strategy at NDB Securities. Significant crossings included Keells (23 million rupees), Distilleries Company (27.7 million rupees), Sunshine Holdings (30.6 million rupees), Commercial Bank (32.4 million rupees), Ceylon Tobacco Company (35.6 million rupees), Hatton National Bank (39.5 million rupees), Prime Lands (40.5 million rupees), and HAS Holdings (41.5 million rupees).

In corporate news, Hayleys Retail Holdings Ltd announced it has partnered with supply chain software provider Blue Yonder to build and scale an AI-native grocery supermarket chain across Sri Lanka. (Colombo/Nov09/2026)

 

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Sri Lanka’s Hayleys Retail to launch supermarket chain with Blue Yonder

ECONOMYNEXT — Hayleys Retail Holdings Ltd has selected supply chain software provider Blue Yonder to build its grocery retail operations from the ground up, the two companies said in a joint statement.

Hayleys Retail, a member of Sri Lanka’s diversified conglomerate Hayleys Group, plans to open several stores in the near future to serve consumers across the country. The agreement marks Blue Yonder’s first retail customer in Sri Lanka.

“Our entry into supermarket retail is about bringing that same commitment to quality and reliability closer to everyday Sri Lankan consumers,” Mohan Pandithage, Chairman and Chief Executive of Hayleys PLC said.

“With Blue Yonder, our teams will have AI-driven insight to deliver a seamless, consistent shopping experience across every store,” he said.

Hayleys, which accounts for approximately 5 percent of Sri Lanka’s export income and operates across 17 business sectors, is entering the large-scale supermarket space by drawing on its group strengths in manufacturing, logistics, and services.

The company selected Blue Yonder to connect its data across merchandising and shelf space, deploy artificial intelligence agents to catch operational issues early, and scale its business into a national network without changing platforms.

The rollout will begin with merchandise operations to manage suppliers, items, costs, and pricing, followed by machine learning capabilities to forecast demand and balance store inventory during seasonal peaks.

“Hayleys Retail is choosing one where AI is the foundation rather than an add-on—connected data and agentic AI built into core merchandising operations, and planning that learns as the business grows,” Antonio Boccalandro, President, APAC at Blue Yonder said.

The retailer plans to use the platform to automate routine store tasks and adjust inventory according to real-time sales and local market trends as its store footprint grows. (Colombo/Nov09/2026)

 

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Sri Lanka’s Citrus Leisure extends Lotus Tower management pact

ECONOMYNEXT – Sri Lanka listed hospitality firm Citrus Leisure said it has extended an agreement to manage consumer-facing and entertainment spaces at the Colombo Lotus Tower, which includes revolving restaurant Blue Orbit, until June next year.

The initial agreement signed between Citrus Leisure and Colombo Lotus Tower Management Company (Private) Limited (CLTMC) is due to expire on December 11.

“The Board of Directors of CLTMC at meeting held on 2nd November 2026 has resolved to extend the term of the Management Agreement and continue the existing Management Agreement until 30th June 2027, to which the company has given its concurrence,” the company said in a market filing.

Citrus Leisure Plc opened its revolving restaurant at the Lotus Tower in December 2023.

The company signed a 3-year agreement with CLTMC in May 2023 to provide services in the management of (l) the banquet hall 1 on the 25th floor, (2) the banquet hall 2 on the 26th floor, (3) the revolving restaurant on the 27th floor, (4) the 6 suites situated on the 28th floor and the kitchen in the basement floor of the Colombo Lotus Tower.

The 350-meter or 1,150-feet tower, the tallest in South Asia, was built at a cost 104.3 million US dollars with 80 percent of the money borrowed from Exim Bank of China.

Located in the commercial heart of Colombo, the tower has been called a symbolic landmark of Sri Lanka as well as a colossal white elephant and has been mired in controversy for years. (Colombo/Nov9/2026)

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CIC Holdings Sept quarter net profit rises 20-pct to Rs1.7bn

ECONOMYNEXT — Sri Lanka conglomerate CIC Holdings recorded a net profit of 1.66 billion rupees for the quarter ended September 30, rising 20.3 percent from 1.38 billion rupees in the same quarter last year, interim accounts showed.

The group posted basic earnings per share of 0.87 rupees for the September quarter, up from 0.73 rupees a year earlier.

Quarterly revenue grew 3.4 percent to 20.89 billion rupees from 20.20 billion rupees, supported by broad-based growth across industrial solutions, livestock, and healthcare segments, which counterbalanced relative demand moderation in agricultural inputs.

Cost of sales rose 5.3 percent to 15.20 billion rupees, outpacing revenue growth and causing gross profit to contract marginally by 1.2 percent to 5.68 billion rupees.

Results from operating activities dropped 7.3 percent to 2.66 billion rupees from 2.87 billion rupees, impacted by higher operating overheads.

Selling expenses expanded 6.8 percent to 2.15 billion rupees, and general and administrative expenses climbed 5.8 percent to 1.07 billion rupees, while other operating income dropped 29.6 percent to 117.40 million rupees.

However, operating profits were cushioned by an impairment reversal on trade receivables of 85.83 million rupees, turning around from an impairment provision of 23.38 million rupees in the corresponding quarter last year.

Net finance costs climbed 35.4 percent to 712.25 million rupees from 526.01 million rupees.

The increase was driven by a 30.8 percent rise in finance expenses to 771.46 million rupees, primarily reflecting higher interest expenses on loans to finance elevated working capital and inventory requirements.

The quarter’s bottom line was strongly bolstered by CIC’s equity-accounted investment in John Keells Holdings PLC (JKH).

Share of profit from equity-accounted investees surged more than fourfold to 590.50 million rupees from 257.87 million rupees, driven by JKH’s strong profit expansion during the period.

The group also recognized a gain on bargain purchase of 55.59 million rupees during the quarter resulting from additional share purchases in JKH where the proportionate net asset value exceeded acquisition cost, compared to no such gain a year earlier.

With associate income gains offsetting operating margin contraction and higher borrowing costs, group pre-tax profit held virtually flat at 2.59 billion rupees, down 0.11 percent.

Income tax expense fell 29.4 percent to 606.24 million rupees from 858.71 million rupees, driving total group profit for the period up 14.1 percent to 1.98 billion rupees.

Total group assets stood at 108.58 billion rupees as of September 30, up from 99.75 billion rupees at the end of March 2026.

Group net asset value per share increased to 25.52 rupees from 22.10 rupees a year earlier.

CIC Holdings’ ordinary voting shares closed at 27.80 rupees at the end of September.(Colombo/Nov09/2026)

 

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Sri Lanka stocks trend up; ASPI gains 0.78-pct

ECONOMYNEXT – Sri Lanka’s Colombo Stock Exchange was trading higher on Monday, CSE data showed, with the benchmark All Share Price Index moving up 0.78 percent.

The ASPI was up 165.73 points at 21,405.38, while the more liquid S&P SL20 was up 0.61 percent, or 37.04 points, at 6,082.42.

Positive contributors to the ASPI were Commercial Bank (up 1.55 percent at 213.25 rupees), Ceylon Cold Stores (up 2.61 percent at 128.00 rupees), Asiri Hospital Holdings (up 10.00 percent at 30.80 rupees), Hemas Holdings (up 1.27 percent at 32.00 rupees), and Ambeon Holdings (up 6.02 percent at 37.00 rupees).

Namunukula Plantations (down 3.92 percent at 63.70 rupees), LOLC Holdings (down 0.62 percent at 400.00 rupees), and Chevron Lubricants Lanka (down 0.12 percent at 205.25 rupees) were top negative contributors.

Market turnover was 428.31 million rupees. Capital goods led turnover with 82.53 million rupees. (Colombo/Nov09/2026)

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