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Monday November 9th, 2026

WHO warns ‘long way to go’ in virus crisis, deaths top 180,000

World Health Organization (WHO) Director-General Tedros Adhanom Ghebreyesus at a press briefing on COVID-19, the novel coronavirus in Geneva.

AFP – The World Health Organization on Wednesday warned that the coronavirus crisis will not end any time soon, with many countries only in the early stages of the fight, as the global death toll surpassed 180,000.

The pandemic has sparked not only a health emergency, but a global economic rout, with businesses struggling to survive, millions left jobless, and millions more facing starvation.

US President Donald Trump — with an eye on widespread unemployment and his re-election prospects in November — signed an executive order suspending the issuance of green cards for 60 days.

Health experts in the world’s biggest economy warned it could face a complicated second coronavirus wave if it dovetails with the seasonal flu this winter, as some US states moved to reopen select businesses.

Nations around the world have been scrambling to fight the pandemic — which has killed more than 180,000 people and infected nearly 2.6 million worldwide — while desperately seeking ways to limit the devastating economic fallout.

As some countries have moved to lift lockdown restrictions that have upended daily life around the globe, WHO chief Tedros Adhanom Ghebreyesus issued a sober warning.

“Make no mistake: we have a long way to go. This virus will be with us for a long time,” Tedros told a virtual press conference.

“Most countries are still in the early stages of their epidemics. And some that were affected early in the pandemic are now starting to see a resurgence in cases.”

Worst-hit region Europe saw its death toll climb to another grim milestone of 110,000, while fatalities in Italy, the hardest hit country behind the United States, topped 25,000.

Finland said it would maintain a ban on gatherings of more than 500 people through July.

In Spain, which reported a slight increase for the second day running in the number of COVID-19 deaths, the government said it did not expect to lift its strict lockdown until mid-May.

“We must be incredibly careful in this phase,” Prime Minister Pedro Sanchez said.

– ‘Significant step’ –

But Germany, which has cautiously begun allowing shops to reopen, offered another glimmer of hope when it announced that human trials for a vaccine will start by next week.

The trial, only the fifth to have been authorized worldwide, is a “significant step” in making a vaccine “available as soon as possible”, the country’s regulatory body said.

With several months to go before a viable vaccine can be rolled out, more than half of humanity remains under some form of lockdown.

Singapore extended its confinement order for a month to June 1, as the Asian city-state — which managed to keep its outbreak in check early on — has been hit by second-wave infections.

The director of the US Centers for Disease Control and Prevention also warned Americans to prepare for a more challenging second round of outbreaks, should it be mixed with seasonal flu infections.

“There’s a possibility that the assault of the virus on our nation next winter will actually be even more difficult than the one we just went through,” Robert Redfield told The Washington Post.

On Wednesday, Redfield urged Americans to “embrace the flu vaccine with confidence, as mitigating its effects would help the overall health battle.

In South Africa, more than 73,000 extra troops were sent out to enforce a shutdown as authorities struggled to keep people indoors — particularly in overcrowded townships.

With businesses shuttered and millions of jobs lost, the UN’s World Food Programme (WFP) said the virus crisis would hit the least privileged the hardest.

It said the number of people suffering from acute hunger was projected to nearly double to 265 million this year.

Standing in line in Bangkok’s historic quarter for food donations of rice, noodles, milk and curry packets, Chare Kunwong, a 46-year-old masseur, said: “If I wait for the government’s aid, then I’ll be dead first.”

– ‘Wrong and unjust’ –

In the United States, Trump said Wednesday his order to suspend the issuance of green cards would “ensure that unemployed Americans of all backgrounds will be first in line for jobs as our economy reopens.”

The US recorded a further 1,738 deaths on Wednesday — fewer than the day before, but bringing its total number of fatalities since the outbreak began there to 46,583, by far the most of any country.

It has also reported nearly 840,000 infections, and health care infrastructure, especially in hotspots like New York, has struggled to cope.

“We must guard against a dangerous rebound” of the coronavirus “after all this death”, Trump told reporters.

Protesters took to the streets again Wednesday — this time in Virginia’s state capital Richmond — to demand that stay-at-home orders be lifted so people can get back to work.

But that demonstration came as experts revealed that the country’s first virus-related death came in February, weeks earlier than first reported.

– ‘Now they die alone’ –

Among those hardest hit economically during the crisis are millions of migrant workers who toil abroad to send money back home to their families.

Remittances are expected to plunge by about 20 percent globally this year, the biggest decline in recent history, the World Bank said in a report on the money transfers that are lifelines to millions of families.

The pandemic shutdowns mean even the bodies of some migrant workers cannot be sent home, and are instead being buried or cremated in the country where they die — often without any loved ones present.

“Nobody comes anymore, nobody touches, nobody says goodbye,” said Ishwar Kumar, manager of a Hindu cremation ground in Dubai.

Before the pandemic, people would come “to grieve and bring flowers. Now they die alone”.

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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