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Monday November 9th, 2026

Iran must make peace to avoid further attacks, President Trump says

ECONOMYNEXT – Iran must make peace to avoid further attacks, US President Donald Trump said after American aircraft bombed a key nuclear site in the country with ground penetrating ‘bunker buster’ bombs.

“Iran – the bully of the Middle East – must now make peace,” Trump said in an address at the White House.

“If they do not, future attacks will be far greater and a lot easier. For 40-year Iran has been saying death to Americans, death to Israel. They have been killing our people, blowing off their arms, blowing off their legs with roadside bombs.”

Trump was flanked by Vice President J.D. Vance, Secretary of State Marco Rubio and Defense Secretary Pete Hegseth.

The US strikes on Iran were a “spectacular military success” which ‘obliterated’ Iran’s nuclear enrichment capacity, he said.

“There will be either peace or there will be tragedy for Iran, far greater than we have witnessed over the last eight days,” Trump said.

“Remember, there are many targets left. Tonight’s was the most difficult of them all by far, and perhaps the most lethal.

“But if peace does not come quickly, we will go after those other targets with precision, speed and skill. Most of them can be taken out in a matter of minutes.”

RELATED : US bombs Iran nuclear sites, President Trump says

Iran’s Mehr News Agency quoted crisis management officials saying air defences were activated after hostile targets were identified and “part of the Fordow nuclear site was attacked by the enemy airstrikes.”

Another official was quoted as saying that “Iran had evacuated the three nuclear sites some while ago.”

Israel initiated strikes against Iran earlier in June, claiming Iran was close to building a nuclear bomd, though US intelligence was not in full agreement though there was agreement that the country was enriching uranium to levels beyond needed for peaceful purposes.

Iran’s Fordo uranium enrichment site is buried deep under ground. Iran is believed to have enriched uranium up to 60 percent. About 3 to 5 percent is required for nuclear reactors which produce energy. Uranium in bombs are enriched up to 90 percent.

The US has so-called bunker buster bombs which can penetrate deep into the ground before exploding. The 30,000 GBU-57 bomb can penetrate the ground around 60 metres (200 ft) going through concrete bunkers.

The bombs are carried on B-2 stealth bombers. Earlier in the week there were reports that B-2 bombers were shifted to Diego Garcia a military base on a small island in the Indian Ocean, 1,700 kilometers South of Sri Lanka.

The Fordo site is believed to be under layers of rock. There is no information on how many bombs were dropped on the site. Military analysts have said several bombs may be dropped.

Some of President Trumps ‘Make America Great Again’ supporters opposed the US getting involved in foreign wars.

The transcript of President Trump’s speech is given below:

“A short time ago, the U.S. military carried out massive precision strikes on the three key nuclear facilities in the Iranian regime: Fordo, Natanz and Isfahan. Everybody heard those names for years as they built this horribly destructive enterprise. Our objective was the destruction of Iran’s nuclear enrichment capacity, and a stop to the nuclear threat posed by the world’s No. 1 state sponsor of terror.

“Tonight, I can report to the world that the strikes were a spectacular military success. Iran’s key nuclear enrichment facilities have been completely and totally obliterated.

“Iran, the bully of the Middle East, must now make peace. If they do not, future attacks will be far greater and a lot easier.

“For years, Iran has been saying death to America, death to Israel. They have been killing our people, blowing off their arms, blowing off their legs with roadside bombs. That was their specialty. We lost over a thousand people and hundreds of thousands throughout the Middle East and around the world have died as a direct result of their hate.

“In particular, so many were killed by their general, Qasem Soleimani. I decided a long time ago that I would not let this happen. It will not continue. I want to thank and congratulate Prime Minister Bibi Netanyahu. We worked as a team. Like perhaps no team has ever worked before. And we’ve gone a long way to erasing this horrible threat to Israel.

“I want to thank the Israeli military for the wonderful job they’ve done. And most importantly, I want to congratulate the great American patriots who flew those magnificent machines tonight and all of the United States military on an operation the likes of which the world has not seen in many, many decades.

“Hopefully, we will no longer need their services in this capacity. I hope that’s so. I also want to congratulate the chairman of the Joint Chiefs of Staff, Gen. Dan “Raizin'” Cain — spectacular general — and all of the brilliant military minds involved in this attack.

“With all of that being said, this cannot continue. There will be either peace or there will be tragedy for Iran, far greater than we have witnessed over the last eight days. Remember, there are many targets left. Tonight’s was the most difficult of them all by far, and perhaps the most lethal. But if peace does not come quickly, we will go after those other targets with precision, speed and skill. Most of them can be taken out in a matter of minutes.

“There is no military in the world that could have done what we did tonight. Not even close. There has never been a military that could do what took place just a little while ago.

“Tomorrow, Gen. Caine, Secretary of Defense Pete Hegseth, will have a press conference at 8 a.m. at the Pentagon. And I want to just thank everybody, and in particular, God.

“I want to just say, we love you, God, and we love our great military. Protect them. God bless the Middle East. God bless Israel, and god bless America. Thank you very much. Thank you.” (Colombo/June22/2025)

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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