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Friday November 13th, 2026

Catholic Church athirst for Pentecost after Easter crucifixion

In the immediate aftermath of the despicably inhuman mass massacre, which transformed Easter Sunday into a mournful Good Friday for the Christians of our land, the churches in general seem to have arrived spontaneously at a fourfold conclusion: (a) that our martyred co-believers are among the Blessed coram Deo; (b) that the mourners have found their consolation in the One who accepted, for our sake, a lethally prolonged torture rather than an instant death; (c) that the brutal act of the terrorists is never to be blamed on Muhammad (pbuh) or on Islam; and finally (d) that all feel justifiably indignant about the culpable inaction of the self-servingly inefficient politicos who enjoy the country’s best at the expense of the people that they claim to serve.

But for us Catholics, this is not the whole story.

Ecumenical insensitivity

In this whole tragic scenario, there is something we all tend to overlook; something that reveals a blind spot in the leadership of the Roman Catholic Church. My allusion is to an embarrassing fact which makes us Catholics beat our breasts in repentance, namely, our equally selfish silence and inaction during recent years when a large number of churches belonging to other denominations were under attack by extremists: 86 incidents last year alone and 26 in the first quarter of this year. Did we, the Catholic clergy, say a word on their behalf? Did we not go so far as to persuade the former regime to suppress them?

Even today we, the Catholic clergy, lament the damage done to the lives and property of our own RC churches but were culpably late, too late (in the genre of an after-thought) in expressing our solidarity with the Zion Church in Batticoloa where little children were martyred by the same terrorist group. Where is ecumenism which is the will of Christ who yearned “that they [we] be one”? Inter-church tensions have already marred and disfigured the face of the ecclesial Christ. We need to pray and work for a Spiritual (i.e. Spirit-led) renewal, a new Pentecost.

Hence, the question to be asked before the Lord is the same as the poser writ large on the debris of the Notre Dame Cathedral in Paris: Which church needs to be re-built first? The French government as well as ours have both pledged to reconstruct the churches made of bricks and mortar. As for the Church made of People, who would be the Re-builder? Obviously, the One who built it first. In the Credo we repeat every Sunday (as our martyrs would have done on that tragic Easter Sunday) the words “I believe in the Holy Spirit”, words which are immediately followed by what the Holy Spirit is responsible for…… the first of which is “the Holy Catholic Church”, followed by “Forgiveness of Sins” and other functions of the same Spirit! Where then is the Spirit which animates the Holy Catholic Church? The answer to this question leads us to another scandal:-

The drug menace in Catholic Negombo

There is a shamefully grave reason for the Spirit to be driven away. Right in the Catholic Belt that stretches from Kocchikade church to Negombo (Little Rome), there is another “spirit” that has taken possession of our people. For Catholic Negombo is now notorious as a den of drug dealers and drug consumers. The church-led processions and slogans against the drug-mafia, though highly advertised in the media, were no more than another palliative that has deadened our conscience from plunging into an effective crusade against this anti-social menace. Rhetoric we have heard recently against the government’s inactivity and the NTG’s brutality is put on the silent mode when it comes to our own well-known Catholics vitiating the entire new generation of believers.

A cleansing of the Temple, a renewalist shake up of Little Rome and a confrontation with the politically powerful Roman Catholic drug agents, are a necessary prelude for a much needed epiclesis -the summoning of the Spirit of Christ to descend once more and re-animate the Catholic Church where it is most represented. The IS inspired explosions blown by National Thowheed Jamath are a recent phenomenon and would hopefully be brought to an end in course of time; but the opiate explosion in Catholic Negombo has always been an enduring danger. Catholic leadership has to show courage in words and deeds to re-build the Catholic Church in what was once its most hallowed breeding ground.

No room for refugees?

The swarm of refugees from Pakistan, mostly Christians, cannot find as yet a Catholic asylum even in the Catholic belt, where fatally anti-social chemical substances do not require an entry visa. While we hear Pope Francis’ clarion call to welcome refugees, we seem to listen to another voice which contradicts that papal appeal: the voice of a cardinal who was already on the presiding chair of the dicastery on the Sacraments and Worship when Francis came to office; a ‘liturgist’ who could not distinguish between ritual and worship and, therefore, issued rather naïve rulings such as celebrating mass facing the East, censuring communion in the hand as a satanic temptation, the validity of the Eucharist made dependent on the presence or absence of gluten in the bread, and so on. This same Cardinal’s latest dogmatic utterance publicised in the media is that hosting refugees is anti- Biblical!

Obviously His Eminence, Robert Sara, does not seem to think that Mt 2:13-15 is part of the Bible; that this Gospel text says in no uncertain terms that the Son of God became a refugee in Egypt by Divine Will communicated to his foster father! Hospitality to strangers, aliens, foreign sojourners or refugees is a recurrent demand made by the Lord in the Holy Writ. Has Cardinal Sara’s rejection of God’s Word so clearly revealed in the Bible now become the policy we should follow in our local church, as some already do in matters liturgical? Come, Holy Spirit, and renew your Church.

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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