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Friday November 13th, 2026

Mammoth crowd for Sajith’s inaugural rally

A huge crowd that filled every inch of the Galle Face Green joined in launching the campaign of New Democratic Front (DNF) presidential candidate Sajith Premadasa on Thursday (10 Oct).

The proceedings of the rally proper were preceded by a musical performance by popular band Sahara Flash. Many hundreds gathered at the Green danced to the band’s patriotic music that was tinged with a distinctly nonstop baila flavour.

The first to speak was Assistant Leader of the United National Party (UNP) Ravi Karunananake, followed by National Organiser Navin Dissanayake who took the crowd down memory lane.

Recalling that he and Premadasa embarked on their political journey together when they were first elected to Parliament 19 years ago, Dissanayake spoke of their comradery as fellow deputy ministers in the 2001 UNP government and as cabinet ministers in the government of 2015.

Dissanayake stressed that his colleague had come as far as he has from the grassroot level, having faced four general elections. This, he said, was while Premadasa’s opponent Gotabaya Rajapaksa has yet to even face a ‘ගම් සභා’ (Village Council) election.

Minister of Women and Child Affairs Chandrani Bandara who spoke next said that the dream of having a UNP president has come true at last after 25 long years.

As a mother, wife, sister and daughter, said Bandara, she could attest to the UNP’s commitment to giving women their due recognition. She also took a swipe at Former President Mahinda Rajapaksa who had claimed the current administration hasn’t done anything for women.

“The women of this country who make up 51 per cent of the population haven’t forgotten the sense of insecurity they felt during his period in office,” she said, chastising the Rajapaksa government for turning a blind eye to the rapes committed by Pradeshiya Sabha and Provincial Council members affiliated with it.

The respect Sri Lanka had won over the years for electing the world’s first female Prime Minister and also electing a female president for two consecutive terms had eroded due to the actions of the previous government, said Bandara.

“The country’s image changed to one where a woman tourist couldn’t even spend her holiday here in peace,” she said.

Soon after her speech, Prime Minister Ranil Wickremesinghe arrived at the rally from the side of the stage. A giant garland was placed around his neck the moment he took centre-stage to greet the crowds.

Prime Minister Ranil Wickremesinghe arrives at the rally from the side of the stage / Amith Tennakoon RepublicNext

The garland was so big that Wickremesinghe only could have one side of it around his neck, with the other side hanging over his shoulder. 

Prime Minister Ranil Wickremesinghe with the half-worn garland/ Amith Tennakoon RepublicNext

Security was tightened after the arrival of the Prime Minister to the point where Special Task Force (STF) and police officers could be seen on the balconies of the Taj Samudra hotel.

Amidst the cheerful roar of the crowd, UNP General Secretary Akila Viraj Kariyawasam who spoke next said that the presidential election this year is like the coin toss before a cricket match. Instead of the usual ‘heads or tails’, however, he said, this time, the question is “පවුල ද? රට ද? (family or country)?”

“If you want a president imported from America, you can vote for the lotus bud. If you want a ‘made in Sri Lanka’ president you can vote for the swan,” he said.

Civil society activist Dambara Amila Thero got the crowd going with a colourful speech littered with such pithy phrases as දුම්මල වරම, vegetarian හාදයා and හන්ච් පයිස්.

The firebrand monk said that Sajith Premadasa as President will do all the things ‘අර එහා පැත්තේ ඉන්න හාදයා and vegetarian හාදයා (referring to incumbent President Maithripala Sirisena and candidate Rajapaksa) couldn’t do and did not allow us to do.”

Through the 19th amendment, he said, the current government was able to reduce the executive powers of the president to a great extent.

“But Sirisena thinking that he has the same powers that existed before 8 January 2015 took the දුම්මල වරම of dictator powers during the 52-day government,” he said.

“එවා කොහෙද සිරිසේන එවා හදේ තමයි කියලා අන්න දැන් හන්ච් පයිස් හතර ගතේ ගලා තනි පංගලමේ තනියා වගේ දැන් ඉන්නවා අර මාළිගාවට වෙලා (Those dreams were shattered, and now he finds himself alone and miserable in his palace)”, he added.

The Thero further said that Gotabaya Rajapaksa, who as Defence Ministry Secretary had terrorised the media to the point that journalists would run away at the sight of him, is now running away from the media. Those who refused to run, like Lasantha Wickramatunge and Prageeth Ekneligoda were killed, he added.

Candidate Premadasa’s arrival was announced in the middle of the Amila Thero’s speech, which was promptly interrupted to make way for the theme song: “එකම අරමුණින් මේ මිහිතලයේ රටම එක්වන අද දිනයේ… එක්ව ඉදිරියට යන මඟ හැදුනා.”

With the music as a backdrop, the STF and Premadasa’s bodyguards started clearing the way for his vehicle and entourage.

As he set foot on the Galle Face Green, a musical chanting of “Sajith, Sajith” was heard in the background.

A large number of balloons in green, red, orange and yellow were released as Sajith was moving forward through the crowd which had gathered to see their future leader face to face.

Presidential Candidate Sajith Premadasa arriving at the rally / Amith Tennakoon RepublicNext

After getting on the stage the same garland that was put on Wickremesinghe was put on Preamdasa but unlike his party leader, he was able to support its sheer bulk.

At this, all party leaders representing the alliance took to the centre of the stage, greeting and waving at their supporters who had come in the thousands. UNPers Ajith P. Perera and Dr. Harsha de Silva could be seen fighting hard for a spot in front of Buddhika Pathirana who had, out of nowhere, managed to make his way to the very front of the group, apparently having pushed his two colleagues aside.

Sajith Premadasa, Ranil Wickremesinghe, Buddhika Pathirana and Ajith P Perera waving their hands to the excited crowd while Harsha De Silva is trying to recording the moment / Amith Tennakoon RepublicNext

The Prime Minister was also given his due place in the front but it was Jathika Hela Urumaya (JHU) leader Patali Champika Ranawaka’s hand that Premadasa held and waved with at the crowd.

The Police and Prime Minister Security Division personel trying to prevent the crowd from breaking the barrier which separated the stage from the crowd / Amith Tennakoon RepublicNext

The PM, who took to the podium after Amila Thero, began his speech with a faux pas. He referred to Premadasa’s wife and would-be first lady as Jalani Jayakody, when it should’ve been Jalani Jayawardena Premadasa.

Addressing the gathering, Wickremesinghe said that since the opposition has started to criticise late president Ranasinghe Premadasa, the father of Sajith Premadasa, it is his duty to respond to those criticisms as he was a minister in Premadasa’s government.

Ranasinghe Premadasa was the one who started the fight against poverty, nepotism, feudalism and castesm in the J. R. Jayawardena government, said Wickremesinghe, adding that, now ,another Premadasa is there to carry on that fight.

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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