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Monday November 9th, 2026

As countries begin reopening, US virus expert warns of dangers

REOPENING: People walk in a pedestrian shopping area in Paris on May 12, 2020, on the second day since the lift of an almost two-month confinement to curb the spread of the COVID-19.

AFP – France began reopening schools on Tuesday and Russia and India started getting back to work as the top US infectious disease expert warned that relaxing coronavirus lockdowns too quickly could have serious consequences.

Government immunologist Anthony Fauci’s stark words fed concerns that even a cautious exit from the unprecedented global economic shutdown could trigger another outbreak of the disease which has killed more than 290,000 people around the world according to an AFP toll.

In France, primary and nursery schools reopened with teachers wearing face masks and children’s chairs separated to avoid spreading the virus.

Education Minister Jean-Michel Blanquer hailed the reopening of schools, which will be rolled out gradually throughout the country and include Paris schools on Thursday.

Russia began easing lockdown rules even as infections surged past 232,000 — now the second most confirmed cases in the world after the United States.

Russia hit the dire landmark Tuesday after a week of reporting more than 10,000 daily infections and as it was confirmed that President Vladimir Putin’s spokesman, Dmitry Peskov, tested positive for the virus.

US Vice President Mike Pence’s press secretary tested positive last week and the White House said Tuesday that Pence has decided to “keep his distance” from President Donald Trump for a few days.

In testimony to US lawmakers, Fauci admitted the true number killed by the epidemic in the US is likely higher than the official toll of over 82,000 — the world’s highest.

And despite Trump’s evident desire to restart the economy ahead of the November election, Fauci warned that a 14-day decrease in cases was a vital first step to exiting lockdowns safely.

“If a community or a state or region doesn’t go by those guidelines and reopens… the consequences could be really serious,” Fauci said.

“There is a real risk that you will trigger an outbreak that you may not be able to control,” he added, warning that would not only cost lives, “but could even set you back on the road to trying to get economic recovery.”

– ‘Full accounting’ –

In the US House of Representatives, Democrats unveiled a $3 trillion virus response package, the largest yet, to fund efforts to fight the pandemic and provide emergency payments to millions of American households.

But the measure faced immediate opposition in the Republican-held Senate, where leaders have said a new round of emergency funding is not yet needed.

Republican senators proposed legislation meanwhile that would empower Trump to slap sanctions on China if it does not give a “full accounting” for the coronavirus outbreak, which began in the Chinese city of Wuhan in December.

“The Chinese Communist Party must be held accountable for the detrimental role they played in this pandemic,” said Senator Jim Inhofe. “Their outright deception of the origin and spread of the virus cost the world valuable time and lives as it began to spread.”

In Russia, some parts of the country hummed back to life Tuesday — the end of a “non-working” period.

For those braving public transport, masks and gloves were a must in line with new anti-virus rules.

“It’s a necessary measure,” said 25-year-old Tatiana Khan, speaking on a half-empty bus in Moscow.

“If everyone had worn masks from the start, observed the precautions, I think we wouldn’t have had such a spread of the epidemic,” she added from behind a surgical mask.

Indian Prime Minister Narendra Modi announced a $270 billion economic stimulus as the Asian giant’s economy lumbers back to life.

Its giant railway network restarted in defiance of a recent surge in infections, with 3,600 recorded on Monday, just below Sunday’s record tally.

The country of 1.3 billion imposed a strict shutdown in late March, which Modi’s government has credited with keeping cases to a modest 70,000, with around 2,300 deaths.

Iran, meanwhile, said it would reopen mosques for three nights this week, after struggling to contain the outbreak that has killed more than 6,700 people there.

– Test all in Wuhan –

South Korea, credited with one of the world’s more successful anti-virus campaigns, said it was using mobile phone data to track Seoul nightclub visitors after a cluster of new cases.

The outbreak — which forced a delay in reopening schools — hit gay venues and potential carriers may fear coming forward because of the stigma surrounding homosexuality.

And in Britain, which has Europe’s most confirmed fatal cases, the Office of National Statistics said reports from care homes for the elderly suggest a government tally of 32,692 deaths underestimates the full toll.

In China, state media reported that Wuhan plans to conduct virus tests on the entire 11 million population after new cases emerged for the first time in weeks in the city where the outbreak began.

Scientists believe the virus jumped from bats to humans in a Wuhan market but there have been unproven claims — including from Trump — that the disease somehow escaped from a Chinese lab.

Economic and social lockdowns have cut a swathe through the global economy and, while many areas are now cautiously moving back to work, world markets are treading cautiously amid fears of a second wave.

The Nasdaq’s six-day winning streak ended on Tuesday as US stocks pulled back after Fauci’s warnings about reopening the economy too quickly.

One popular US attraction that will remain dark is Broadway.

The Broadway trade association announced Tuesday that New York’s beloved theaters will not reopen until at least early September.

New York remains the US epicenter, with COVID-19 continuing to kill more than 150 people a day in the state.

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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