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Monday November 9th, 2026

Sri Lanka sees Covid infections rise among quarantine workers amid calls for change in testing strategy

COMMUNITY SCREENING: Staff of a company in Tan Thuan Export Processing Zone in HCMC lining up for tests by Vietnam’s Centres for Disease Control. Source/Touitre Online.

ECONOMYNEXT – Sri Lanka has not taken decision to allow private sector labs to conduct Coronavirus tests officials said, while a philosophy against voluntary or precautionary community screening of those at risk had also not changed according to what health official say.

Sri Lanka had had discussion with private hospitals about using their capacity to expand testing, the head of Sri Lanka’s Health Service Anil Jasinghe said on Friday but no decision was taken to allow them to conduct tests.

“We had a discussion with private hospitals about using their capacity for tests in case we need it,” Jasinghe told a domestic television station.

“But the higher education ministry (which has universities with labs) had offered their PCR machines which will expand capacity.”

Sri Lanka initially wanted all symptomatic patients to turn up in state hospitals, which observers agree is a good strategy.

Private hospitals were allowed to test, provided the patient was admitted. However there are no drive-in tests for aymptomatic persons working in high risk areas.

As long as curfews are in place, contact tracers could passively wait for symptomatic persons to turn up.

The person from Suduwella and Colombo’s Bandaranaike Pura tuned up during curfew.

Zero Community Screening

But when curfews are lifted under the current strategy private sector companies would have to operate without the ability to test drivers, cleaning staff and any other workers who meet many people who wanted to cut risks.

Advocata Institute, a Colombo-based think tank, had asked authorities to allow persons in high risk areas to be get a test, as there was zero chance of an asymptomatic person who is not linked to a known index case from being discovered by authorities.

The current plan discovering new patients is too dependent on symptomatic patients turning up in hospital, and there was zero change of asymptomatic persons in high risk areas being discovered the think tank pointed out.

“The current contact tracing strategy has a serious flaw in that it is too dependent on symptomatic cases and there is no way to detect an infected index case that is asymptomatic,” the think tank said.

“Voluntary testing, random testing of people in high-risk areas will increase the chance of asymptomatic index cases and members of clusters being discovered.

“Once curfew is lifted, the front office staff of any institution including airports, quarantine workers, cleaning staff, people working in economic centres, and drivers may be exposed to higher risks.

“Those in driving/delivery related jobs, in particular, would also be in a position to spread the disease faster and to a greater area.”

This week Sri Lanka was shaken a large cluster developed at a Navy base among sailors involved in quarantine work who were not screened under the current testing philosophy.

One of the sailors who was on leave had travelled to many areas, jumping on food trucks in some cases, authorities said. The sailor was discovered because he developed symptoms and went to hospital.

His un-screened colleagues were not symptomatic up to that point. On the first day they were screened 29 turned up positive.

Anti-Screening Philosophy

A senior health official in the state testing system said that even for a blood test to be conducted when there is an ‘indication’ and cannot be just taken because a patient wanted it.

“You cannot conduct a PCR test because you think there is a risk,” he said explaining the philosophy of the health officials behind their opposition to precautionary tests.

“There has to be an indication like a symptom or a link with some person to conduct a test. You can’t conduct a blood, or a sugar test just because you want it.”

However those calling for testing of high risk persons are doing so on the grounds of probability and an assumption that no one is infallible in tracing contacts and there could be a few persons out there with the disease, perhaps.

If curfews are lifted they would no longer be any protection from spreading, and persons who meet many people on different locations could get infected and become carriers.

“That it just fear,” the health official said. “That is not science. You cannot ask for a test based on fear. We do not conduct tests like some other country. We may also change what the WHO says.”

Observers say there could be a weak understanding of probability among medical professionals.

A community screening of high risk areas would raise the chance of discovering asymptomatic persons from the current zero to a positive number.

Diagnostic vs Screening

Senior health officials had earlier said on television they were opposed to a PCR test being used for ‘screening’ because it was a ‘diagnostic’ test by definition.

Unlike Vietnam, Sri Lanka did not initially test contacts of index cases (to discover whether the next level and been infected and act fast to isolate the next two levels) or those that were released from quarantine.

Sri Lanka Coronavirus contact tracing gaps plugged as incubation of SARS-Cov-2 suspected to top 20 days

Senior health officials had earlier said on television they were opposed to a PCR test being used for ‘screening’ because it was a ‘diagnostic’ test by definition.

The strategy had since been changed and now contacts and released persons are tested.

At the moment only PCR tests are the only available remedy for ‘screening’, with blood tests for antibodies, especially those made in China being shown to be unreliable in many countries and returned.

The anti-test community screening philosophy seemed to be based on a belief that there could be no infected persons that the contact tracers missed.

PCR tests also have the advantage of being showing virus genes before anti-bodies develop, according to medical professionals.

Vietnam, the most successful country in containing the epidemic had widely used PCR tests for screening.

Vietnam authorities had also used PCR tests on discharged patients and found that they also run the risk of turning positive.

On April 25, Vietnam went on a renewed community testing drive after the discovery of two new cases, after the lapse of 08 days. Like airline passengers inter-district truck drivers are also required to take tests. (Colombo/April25/2020)

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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