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Friday November 13th, 2026

Living with Lenin and Risking HELL

ECONOMYNEXT – The name was a conversation piece. He was known as ‘Lenin,’ but that was actually an afterthought.

Born Hirohito Edward Jayasinghe to a radical communist—Jones Alexander Jayasinghe—and his Eurasian bride, Myra Nesta Crutchley, my father underwent a name substitution just two days before his first birthday in October 1937.

His parents dropped “Hirohito Edward” and replaced it with ‘Lenin’ and ‘Lindbergh.’

What was Lenin like? How did he influence his family and friends? Did he follow the great Russian leader? For much of his life, he was sympathetic to the communist state.

He embraced leftist trade union activism throughout his career in the postal department. He also became a defence counsel, a legal representative for public servants facing disciplinary action and built a considerable practice. In the true socialist spirit, his services were free—the only fee was the ‘batta,’ the official stipend, he collected as a public servant and a huge reservoir of goodwill.

My brother, Lakal, and I grew up in a home imbued with egalitarian values. The most impressionable time of our childhood was during Mrs Bandaranaike’s rationing regime when each household had ration books—one per person. Among other items, everyone was entitled to a quarter pound (100 grams) of sugar a month. Lenin was a true leftist and embraced the bitter austerity as a necessary hell for a better future.

Early in their marriage, my mother, Latha, feared that Lenin would use all his names in the order they were given—Hirohito Edward Lenin Lindbergh (HELL). Theirs was a love marriage made in heaven, but ‘HELL’ being part of it was not what my mother had bargained for—or so she told us.

My father became better known by his new first name, Lenin. On his first birthday, he was photographed wearing a beret adorned with the hammer and sickle, the symbol of the world communist movement.

This was considered an act of defiance at a time when communists were not tolerated in British-ruled Ceylon. That was six years before the launch of the Communist Party of Ceylon in 1943. Jones Alexander Jayasinghe was reportedly arrested for defying the colonial authorities.

How he escaped trouble is unclear, but family photos place Jones Alexander in the company of many figures at the forefront of Ceylon’s independence movement. Jones Alexander was a friend of the then-young Pieter Keuneman, who went on to become the Secretary of the Communist Party of Ceylon as well as trade union stalwart H. G. S. Ratnaweera.

Lenin was initially named ‘Hirohito,’ apparently because my grandfather admired the Japanese emperor.
I have been unable to verify claims that he was among the first to use a Japanese-made Datsun model ‘DB,’ a 722cc petrol-powered car that was infamous for its lack of reliability, unlike the Western-made vehicles dominating the British Empire at the time.

The second name, Edward, honoured the UK’s King Edward VIII, who had ascended the throne in January 1936, ten months before my father was born. The two later names, Lenin and Lindbergh, were substituted a year later, though the reasons for this change remain unclear.

This was likely because Jones Alexander Jayasinghe had begun to rebel against colonial rule and opposed imperial Japan. The substituted names reflected his leanings towards Red Russia and the global human interest story of Charles Lindbergh after the murder of his baby.

The name ‘Lindbergh’ referred to the American aviator who completed the first solo transatlantic flight in his aircraft, Spirit of St. Louis. The kidnapping and subsequent murder of Lindbergh’s 20-month-old son in 1932 had shocked the world and was widely known in Ceylon at the time of my father’s birth four years later.

My mother may also be the exception that proved the rule that marriage won’t make a man change. A promise to give up alcohol if she married him was kept, and Lenin never touched spirits—until I cajoled him into enjoying a glass of white wine. Giving up alcohol underscored my mother’s spirited determination to instil some discipline in him.

A nasty motorcycle accident that saw him flying over the Dehiwala roundabout (which has since been replaced by a fly over) and narrowly escaping death shortly before his wedding may also have contributed to his temperance.

However, my father’s greatest failing was his inability to give up smoking. Unable to make him quit cigarettes, my mother, in a tit-for-tat move, threatened to cut off her long hair—something my father was ready to accept in exchange for continuing to smoke two to three packets of ‘Three Roses,’ the popular filter-less cigarettes, daily. After a life-changing heart bypass surgery in 1999, he finally gave up chain-smoking—at least in public.

Lenin’s heart and kidney-related health issues later in life were blamed on cigarettes. Neither my brother nor I developed any interest in smoking or drinking.

With my father being a postmaster and my mother a mathematics teacher, we learned to be frugal and count our blessings. Given the country’s economic circumstances at the time, with import restrictions being the norm, there was little pressure to buy things and no one was spoilt for choice.

Most Sri Lankans endured the same miseries.

Replacing a headlamp on my father’s old English motorcycle, which he had bought second-hand before his marriage, required hours in a queue at the State Trading Corporation.

Even then, it was only possible after collecting approvals from several local officials to prove that the Velocette MAC motorcycle had a fused headlamp.

Even in tough times, my parents instilled in us the importance of helping others and sharing—a practice they continued until their dying days. I also owe my driving skills to my father, who would place me on the petrol tank of the 350cc single-cylinder motorcycle and let me take the controls when I was just 10 years old.

Two decades later, he repeated this with my son, Navin on a newer, faster Honda 250N. After an accident that resulted in both my parents fracturing their limbs, my father reluctantly gave up his beloved two-wheelers for the safety of four wheels, though he was never comfortable driving cars.

Looking back, I am amazed at how I used to sneak out the heavy motorcycle for joyrides, even when both my feet couldn’t reach the ground. But those were quieter times when there were few private vehicles on the road, and a 10-year-old on a motorcycle didn’t pose much risk to himself or others.

As the younger of two sons, I rebelled by pursuing a career path that did not align with my teacher mother’s expectations of academic excellence.

“My youngest son is a reporter at the Daily News, but my other son is a graduate,” she would tell her friends and colleagues, underscoring both her disappointment and pride simultaneously.

But as years passed and I became a foreign correspondent, she came to terms with her youngest son’s high-risk but low-paying career, taking comfort in an astrologer’s not entirely accurate prediction that I would be a “writer known overseas.”

Even after her retirement, she continued to teach neighbourhood children as part of her social work until Lenin’s passing in January 2018. With her beloved partner gone, she steadily declined and passed away in her sleep three years later on November 15, 2021.

On 10 January 2025, we marked the seventh death anniversary of Lenin Lindbergh Jayasinghe – a steadfast egalitarian, dedicated public servant, and a man whose influence left an indelible mark on all who knew him.

Amal Jayasinghe

Sri Lanka stocks close down 0.60-pct, dragged by HNB and LOLC

ECONOMYNEXT – Sri Lanka’s Colombo Stock Exchange closed down on Friday, CSE data showed, with the benchmark All Share Price Index moving down 0.60 percent.

The ASPI was down 133.22 points at 22,024.18, while the more liquid S&P SL20 was down 1.06 percent, or 67.55 points, at 6,298.02.

The ASPI ended the week up 784.53 points from last Friday.

Positive contributors to the ASPI were Dialog Axiata (up 0.40 percent at 50.20 rupees), Distilleries Company of Sri Lanka (up 0.52 percent at 58.30 rupees), Aitken Spence (up 3.60 percent at 151.00 rupees), Ceylon Tobacco Company (up 1.05 percent at 1,828.50 rupees), and LOLC Finance (up 1.96 percent at 5.20 rupees).

Hatton National Bank (down 1.88 percent at 403.75 rupees), Richard Pieris and Company (down 6.21 percent at 27.20 rupees), LOLC Holdings (down 2.17 percent at 405.00 rupees), Sampath Bank (down 1.91 percent at 154.00 rupees), and Singer (Sri Lanka) (down 2.40 percent at 77.30 rupees) were top negative contributors.

Market turnover was 3.23 billion rupees. Capital goods led turnover with 869.21 million rupees. (Colombo/Nov13/2026)

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Sri Lanka MP slams budget speech for omitting Tamil national question

ECONOMYNEXT – A Sri Lanka legislator has voiced strong disappointment that the President’s budget speech failed to make a single mention of the Tamil national question.

“It is very unfortunate that in His Excellency the President’s speech, there has not been a single word mentioned about the Tamil national question. Not a single word,” Shanakiyan Rasamanickam said.

“A budget speech generally, is a policy direction of the government for the next year. The budget speech is not only a statement of the country’s fiscal position or the economy’s position. It is the country’s, the government’s, plan, or what the government plans to do the following year. That’s a policy statement.”

Former presidents would at least mention the Tamil question even if it was not resolved, he said.

Former President Ranil Wickremesinghe in his speech, in his policy statement, he would mention: “The Tamil national question must be resolved,” Rasamanickam said.

Former Presidents Maithripala Sirisena and Gotabaya Rajapaksa also mentioned that the national ethnic question must be resolved, he added.

“Every President, every country’s Head of State, in their policy statements, have acknowledged the fact that there is an unresolved national issue, the Tamil national question, that it needs to be resolved. Various governments have proposed various mechanisms; none of them have succeeded, but at least it was mentioned.”

This year’s budget made allocations for the Office of Missing Persons, and the Office of Reparations.

“But the domestic mechanism is a mechanism that the victim community has rejected. So you all are allocating money to a mechanism where the victim community is not going to be part of.”

Last year’s budget 1 billion was allocated to be spent on the Trincomalee and Jaffna airports.

“Where was that 1 billion for the Trincomalee and Jaffna airports spent last year?”

“The trajectory of this government, Honourable Deputy Speaker, is worrying to me. It’s really worrying to me. Because if the objective is to say that there is no Tamil national question, if the objective is to say that you all have resolved any ethnic issue that this country faced, then Honourable Deputy Speaker, then I think the Tamil people will teach this government a very, very, very harsh lesson in the future.” (Colombo/Nov13/2026)

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Sri Lanka sells extra Rs6.5bn Treasury bills after auction

ECONOMYNEXT – Sri Lanka has sold 6,500 million rupees of treasury bills offered on tap at an average rate of 9.95 percent, the public debt management office said, bringing the total of bills sold in the week to 85.562 billion rupees.

The issue offered 90 billion.

Total market subscription was 6.5 billion rupees.

The debt office sold a 12-month bill at 9.95 percent.

On Wednesday (11) the debt office raised 79 billion rupees of 3, 6 and 12 month bills after offering 90 billion.

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Sri Lanka Treasury bill yields hold broadly steady, less bills sold

The settlement date is November 13. (Colombo/Nov13/2026)

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Access Engineering Sept quarter group net profit surges 200-pct to Rs4.75bn

ECONOMYNEXT — Sri Lanka’s Access Engineering PLC recorded a group net profit attributable to equity holders of Rs. 4.75 billion for the quarter ended September 30, surging 200 percent from Rs. 1.58 billion a year earlier, interim accounts showed.

Basic earnings per share rose to Rs. 4.08 for the September quarter, up from Rs. 1.58 previously.

Quarterly group revenue expanded 36 percent to Rs. 20.39 billion from Rs. 14.94 billion, underpinned by condominium property handovers — reflected in inventories dropping Rs. 7.69 billion since March to Rs. 35.71 billion — alongside strong automobile sales and steady civil engineering execution.

Cost of sales rose at a slower 27 percent to Rs. 14.34 billion, lifting gross profit by 64 percent to Rs. 6.05 billion and expanding gross margins to 29.7 percent from 24.7 percent.

Other income jumped 144 percent to Rs. 259.9 million, while administrative expenses rose 75 percent to Rs. 1.14 billion, leaving operating profit up 64 percent at Rs. 5.16 billion.

However, finance costs more than doubled, rising 107 percent to Rs. 1.18 billion on elevated group borrowings of Rs. 43.74 billion, partly offset by finance income climbing 302 percent to Rs. 42.2 million.

Share of results from equity-accounted investees rose 122 percent to Rs. 26.7 million, pushing pre-tax profit up 56 percent to Rs. 4.05 billion.

Income tax swung to a net reversal of Rs. 186.6 million from an expense of Rs. 804.1 million, boosted by deferred tax assets on unrelieved losses from a 100 percent enhanced capital allowance claimed by 60 percent-owned radiopharmaceutical subsidiary Access Medical Tracers (Private) Limited.

Total period profit rose 136 percent to Rs. 4.24 billion, with non-controlling interest declining 24 percent to Rs. 164.9 million following last year’s buyout of minority shareholders in Harbour Village (Private) Limited.

No separate exchange gain or loss was itemized in quarterly earnings, though foreign currency translation via associates recorded a Rs. 17.4 million loss in other comprehensive income, alongside USD 16.6 million in corporate guarantees.

Notes also flagged an expected Rs. 1.45 billion recovery from the terminated South Asia Commercial and Logistics Hub project, a Rs. 225 million post-quarter legal settlement already provided for, and a Supreme Court appeal over a 2011/12 PAYE tax ruling.

Group assets stood at Rs. 132.4 billion as of September 30, with net asset value per share at Rs. 46.70, as the Employees’ Provident Fund raised its stake to 5.69 percent.

Access Engineering shares closed at 80.00 rupees at the end of September and are currently trading around 85.80 rupees. (Colombo/Nov13/2026)

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Sri Lanka private sector says timely implementation of Budget 2027 key

ECONOMYNEXT – Private sector body, The Ceylon Chamber of Commerce, said it was encouraged by the broad direction of Budget 2027, noting that it reinforces Sri Lanka’s commitment to economic transformation while maintaining policy continuity, macroeconomic stability, and fiscal discipline.

“This continuity is particularly important as the country seeks to transition from economic stabilisation to a more durable, investment-led growth trajectory.”

The chamber also noted several areas where the Budget could have placed greater emphasis to strengthen the country’s growth prospects.

“In particular, there is a need for a stronger focus on attracting Foreign Direct Investment (FDI), accelerating factor market reforms, particularly in land and labour, and fast-tracking public procurement reforms to improve the efficiency and speed of project implementation.

“More targeted and actionable proposals could have been introduced to unlock the potential of sectors with significant growth opportunities, including tourism, agriculture, IT/BPO and logistics.”

The chamber said the budget contains positive measures aimed at enhancing competitiveness, and external sector resilience, while presenting opportunities for focus on sectors that can accelerate growth.

“A number of the key structural reforms identified in last year’s Budget have been carried forward and strengthened, providing greater certainty and predictability to businesses and investors.

“These include the continued implementation of the Trade National Single Window (TNSW), the phased removal of para-tariffs, the rollout of the Digital ID framework, efforts to expand market access through new Free Trade Agreements (FTAs), the strengthening of one-stop-shop investment facilitation mechanisms, progress on Customs reforms, the expansion of Bandaranaike International Airport (BIA), enhanced financing support for SMEs, and reforms relating to the management of State-Owned Enterprises.”

The CCC said that more than 20 proposals submitted by it have been reflected in Budget 2027.

These include measures to strengthen investor facilitation through the establishment of a professionally managed investment promotion agency; continued efforts to improve trade facilitation and export competitiveness; the Government’s consideration of a successor programme with the International Monetary Fund (IMF); accelerated progress on key legislative reforms; the expansion of digital government services; and the promotion of cashless payments and broader digital adoption. The Budget has also captured several priorities relating to energy security, including the accelerated deployment of Battery Energy Storage Systems (BESS) and investments in fuel storage infrastructure, initiatives to optimize underutilized agricultural land, measures to support the expansion of the digital economy and the IT/BPO sector, and tax reforms to support exporters, including the acceptance of newly VAT-registered exporters as eligible exporters.

“The inclusion of these priorities reflects the value of sustained public-private dialogue and demonstrates increasing alignment between national policy objectives and the needs of a competitive, export-oriented economy.

“The priority now must be effective and timely implementation to translate policy commitments into investment, competitiveness, exports and sustainable growth.” (Colombo/Nov13/2026)

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Sri Lanka stocks trend lower day after budget reading

ECONOMYNEXT – Sri Lanka’s Colombo Stock Exchange was trending lower on Friday, CSE data showed, with the benchmark All Share Price Index moving down 0.66 percent.

The ASPI was down 146.78 points at 22,011, while the more liquid S&P SL20 was down 0.94 percent, or 59.99 points, at 6,306.

Positive contributors to the ASPI were Access Engineering (up 1.30 percent at 85.80 rupees), LAUGFS Gas (up 3.31 percent at 49.90 rupees), Ceylon Tobacco Company (up 1.13 percent at 1,830 rupees), Ceylon Cold Stores (up 0.80 percent at 126 rupees), and Namunukula Plantations (up 1.79 percent at 68.10 rupees).

LOLC Holdings (down 1.03 percent at 409.75 rupees), Hatton National Bank (down 0.61 percent at 409 rupees), Sunshine Holdings (down 3.81 percent at 30.30 rupees), and Sampath Bank (down 1.91 percent at 154 rupees) were top negative contributors.

Market turnover was 1.55 billion rupees. Capital goods led turnover with 459.57 million rupees. (Colombo/Nov13/2026)

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