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Monday November 9th, 2026

Ending violent ragging in Lanka’s Campuses

ECONOMYNEXT – Some Universities in Sri Lanka opened this morning and new university entrants walked into campus taking their first step towards higher education with much excitement and trepidation.

Excitement because they are entering into a new world and fear because ragging in Sri Lankan universities has, over the years morphed into one of the most violent forms imaginable.

Even though various attempts have been made to arrest the trend, with anti-ragging student bodies standing up to the perpetrators, and legislation that involves even prison terms introduced, nothing seems to deter the culprits.

There have been various heads of universities who at one time or another, either collectively or on their own tried to at least mitigate the trend.  Governments, including this newly elected one have made various pronouncements on the need to eradicate university violence. An on-line complaints mechanism was introduced around 2017 by the University Grants Commission, and the Yahapalanaya government showed some signs of getting tough against offenders, and then that initiative too petered out, with political developments in the country taking centre stage.

And so, violence in our universities, which include sexual harassment, continues, often leading to fatalities or life -long physical injuries and psychological trauma.

As the situation worsened, several academics, professionals and concerned citizens came together recently to form the Coalition Against Violence in Universities, spearheading various initiatives and calling on parliamentarians to commit to eradicating this menace from local universities.

Amongst its initiatives is a series of webinars discussing the causes and possible methods of enforcing zero-tolerance against university violence.

The series titled “Lifting the Silence” explored on Saturday, August 23, what students, alumni and lecturers could do to make university ragging a thing of the past.

The 1998, Prohibition of Ragging and Other Forms of Violence in Educational Institutions Act, No. 20,  makes ragging a non-bailable offence if it involves sexual harassment or grievous injury and could lead to up to ten years in jail. Though it has not been applied as expected, participants wondered if the punishments were too harsh, with others insisting they were not.  If it is too harsh, then the same could be said, pointed out one of them, of domestic violence or child abuse, which would lead victims to believe that the crime committed against them is not that grave.

For Devaka Weerasinghe, a Sri Jayawardenepura University alumnus, it is all about empowering new entrants to universities.  As most who have studied the ragging of freshers would know, even while harassment goes on seniors also attempt to act as their guardian angels.  Whether it is befriending and sympathising with a seriously traumatised fresher to sharing their lecture notes, it is a strategy that ensures new entrants become entirely dependent on their seniors.  Once that web is cast, freshers become virtual slaves, often prodded into ragging their own batch mates and taking on that reprehensible task in the ensuing years, and also being lured into joining political parties that endorse such behaviour.

So as a fresher, Devaka says he organized himself, preparing his own notes and obtaining past exam papers from the university library.  He encouraged others to do the same.  What’s more, he advises new entrants to live in a boarding house rather than the university hostel, at least during their first year, as he points out that as hostellers, freshers end up being subjected to more of the harassment and doing the bidding of seniors.

A group at the University of Colombo, he said had prepared an information booklet which helped new students locate affordable eateries, boarding houses and places of interest etc.  Basically, that was helping freshers find their feet on their own.  When freshers are empowered and as Dharsha Udayanga, an undergraduate at the Ruhuna University pointed out, if new entrants form a network even before they enter the campus, their dependence on seniors will be reduced.  As a group, they can become a formidable force against raggers.

As Dharsha says, it is really tragic that students who have laboured hard at their studies for 13 years, give up on their dream of higher education, simply because of the violence that awaits them at the hands of their seniors.  While cautioning freshers, especially girls from associating with seniors, Dharsha, who is a victim of severe ragging himself, states the trick is to never forgive or withdraw a complaint against ragging.

Indeed, if complaints are seen through to the end, and law-makers and university hierarchy apply the rules already in place and perpetrators are duly punished, eradicating violence from the university will not be just a dream.

Department of English Lecturer and alumnus of the University of Kelaniya, Sabrina Niles is of the opinion that the onus is on the lecturers too to find long-term sustainable solutions.  As she quite rightly points out, there is a significant change of environment from school and home life when transitioning into university and lecturers should be more involved in interacting with the freshers and also promoting respectful behaviour between the different batches of students.

As she suggests, all departments should carry signs informing everyone that this is a safe space.

Perhaps it wouldn’t be a bad idea if all universities were to display notices stating ‘Ragging stops here!” or ‘We stand for Zero tolerance.’  Of course, signage alone will not be enough it must be followed through with action. Faculty members should also proactively lead a stand against the various stipulations such as dress codes and restrictions in movement that seniors impose on freshers.

Indoctrination, it transpired takes place during the first several months, when new entrants are taught English.  Should those instructors then be empowered to counter such actions, and prevent the escalation of ragging?

Should universities be closed at the first sign of violence?  As one participant observed, will not such a step point to a failure on the part of the Vice-Chancellor, who more often than not has to make compromises with the perpetrators.

Are university administrators unable to take appropriate action because they are beholden to political patronage?

A news report just three days ago stated that the University Grants Commission and the Ministry of Education is considering installing intelligence units at universities to monitor those who instigate harassment.  The authorities may believe that through such units and by instilling fear amongst perpetrators, universities could eradicate or reduce the number of violent incidents that take place at these institutions.

But is installing intelligence units in universities the way to go when legislation that carry strict penalties have not deterred perpetrators?

Would it not be better to empower new entrants so they could withstand the pressures brought upon them and ensure that University Heads apply available legislation against perpetrators, and mobilise faculty members to be proactive in preventing harassment?

More importantly, instead of intelligence units, the UGC and the Ministry should introduce victim and witness protection systems that would ensure that complaints could be made without fear or intimidation, leading towards the complete eradication of violence from our universities.

(Colombo, August 24, 2020)

Kshama Ranawana is an independent writer on social and political issues

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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Sri Lanka rupee at 332.54/58 to US dollar spot, bond yields steady

ECONOMYNEXT – Sri Lanka’s rupee was quoted at 332.54/58 to the US dollar spot on Monday, stronger from 332.55/60 Friday, while bond yields held broadly steady, dealers said.

A bond maturing on 15.09.2029 was quoted at 10.90/95 percent, up from 10.85/95 percent.

A bond maturing on 01.08.2030 was quoted at 11.00/10 percent, down from 11.05/10 percent.

A bond maturing on 01.02.2031 was quoted at 11.10/20 percent, up from 11.10/15 percent.

A bond maturing on 15.12.2032 was quoted at 11.58/68 percent, up from 11.55/65 percent.

A bond maturing on 01.06.2033 was quoted at 11.80/95 percent, up from 11.80/85 percent.

A bond maturing on 15.10.2034 was quoted at 12.08/15 percent, up from 12.05/12 percent.

A bond maturing on 15.08.2036 was quoted flat at 12.30/40 percent.

The telegraphic transfer rate for the dollar was 328.05 buying, 337.05 selling; the euro was 363.3528 buying, 377.1336 selling; pound was 437.5954 buying, 451.7038 selling.

On the Colombo Stock Exchange the All Share Price Index was up 0.78 percent, or 165.42 points, at 21,405; while the S&P SL20 was up 0.58 percent, 35.19 points, at 6,080.

90,000 million rupees Treasury bills are to be issued through an auction on November 11. (Colombo/Nov9/2026)

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