An Echelon Media Company
Monday November 9th, 2026

Shocking lapses led to official inaction over Easter bombs

A lackadaisical attitude towards security in general and a disregard of vital intelligence led to no action being taken against the National Thowheed Jamaat militants who struck on Easter Sunday, a Parliamentary Committee probing the attacks heard today.

More than 250 people were killed in suicide bomb attacks on churches in Katuwapitiya, Kochchikade, and Batticaloa as well as three five-star hotels in Colombo.

The historic first ever live telecast of the committee proceedings was also abruptly stopped, reportedly on the orders of President Maithripala Sirisena, as the embarrassing information spilled out on Peo TV.

It was also revealed that the National Security Council had not met for nearly three months between February 19 until the day after the attacks on April 22.

National Intelligence Chief Sisira Mendis shockingly revealed that the information regarding a possible terror attack on Catholic churches, luxury hotels and the Indian High Commission of Sri Lanka was not given priority in the Intelligence Coordinating Meeting which was held on February 9.

Mendis said that he had received information about this plan from SIS Chief Senior Deputy Inspector General of Police (DIG) Nilantha Jayawardena on April 8.

“I opened the letter at about 11 a.m that day. I did not know from where the SIS got that information. DIG Jayawardena’s letter did not mention it. After reading that, I sought an opportunity to speak with the Defense Secretary Hemasiri Fernando,” he said.

Mendis said he had verbally conveyed the information to Fernando that afternoon. “It seemed to me that he was not aware of information as such prior to my message,” Mendis said.

“Fernando told me that the matter could be discussed on 09 April during the weekly ICM. However, during the meeting, the information on a terror attack was not given priority. I was keeping the letter I received from the SIS Chief on my table. I was seated between the IGP and the SIS Chief. When the meeting was going to end I told them that we should discuss the terror attack plan,” he added.

Giving further testimony the Intelligence Chief said on the same day he sent a letter regarding the terror attack plan to the IGP. “I mentioned on the top of the letter that the information contained in it should be given top priority. But the IGP did not respond to that. Until 21 April, no one talked with me regarding the importance of that information,” he added.

Islamic State threat discussed but no action taken

Mendis also presented to the probe committee documents that gave information about IS activities in Sri Lanka and had recommended that new laws be drafted so that action could have been taken against the organisation.

 “I sent a letter to IGP Jayasundara on 27 November 2017 requesting him to hold discussions with the Attorney General regarding a comprehensive legal mechanism to tackle the IS threat to Sri Lanka. But I did not get a response from his side for the letter. On 01 February 2018, I again sent a letter to him making the same concerns. But again I did not receive any response from his end,” Mendis added.  

“We saw a threat from IS and we discussed about it. The SIS Director is the one who is given priority during the NSC meetings. He is also given the priority in the ICM as well. He reports directly to the Secretary of the Defence Ministry. The Name of Zahran Hashim was first raised in the NSC in March 2017 following a clash between two Muslim groups in Kattankudy.  There were discussions that Hashim held extremist ideology. The Terrorism Investigation Division (TID) had done an investigation on him and issued warrants against him,” he said.

“Before February 19, the NSC met on 14 January 2019. The meeting days in 2018 are 05 January, 19 February, 05 March, 02 May, 10 July, 23 October, 13 November, and 03 December. “

“During some of these meetings, the SIS Chief Jayawardena spoke about Zahran Hashim and his allies spreading hate speech and extremism. The IGP did not attend the NSC meetings after November 2018. Normally, it is the Defence Secretary’s office which sends messages to the participants of the NSC regarding the date and time of meetings. I remember that since in November 2018, those messages did not say that we were summoned for the NSC meetings. Instead, the messages stated that they are special meetings.”

“When a large amount of explosives found in Wanathawilluwa in January 2019, the NSC discussed it. At that moment the Criminal Investigation Department (CID) was carrying out investigations regarding that. It was discussed that the CID should continue its investigations further.”

Intelligence services not weakened – Kottegoda

Giving evidence before the Committee, Defense Secretary Gen (Rtd) Shantha Kottegoda revealed that information with regard to National Thowheed Jamaat had been available to the intelligence services since 2014.

“If action had been taken to ban these organisations at that time considerable damage could have been averted,” he said

Kottegoda was grilled by the Members of Parliament on the committee whether the Intelligence services were weakened due to arrests of some members of the units.

He replied that the State Intelligence Service could not be weakened by the absence of a few members.

 Today’s meeting of the PSC was chaired by Dr. Jayampathy Wickramaratne (PC) since its Chairman deputy Speaker Ananda Kumarasiri was overseas. Rajitha Senaratne and M.A Sumanthiran were also overseas.

Nalinda Jayatissa, Prof. Ashu Marasinghe, Ravi Karunanayake, Field Marshal Sarath Fonseka and Rauff Hakeem participated in the meeting.

This is the first time in Sri Lankan Parliament History in which the media was allowed to cover a PSC meeting.

The next PSC meeting will be held on 04 June from 3 p.m onwards.

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)

Continue Reading

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)

 

Continue Reading

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)

 

Continue Reading

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)

Continue Reading

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)

 

Continue Reading

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)

Continue Reading