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Monday November 9th, 2026

Sri Lanka isolates Western Province amid Covid-19 warnings on Colombo, Coronavirus deaths rise to 46

ECONOMYNEXT – Sri Lanka’s has barred travel out the Western Province till November 15 as daily Coronavirus cases hit 635 and Covid-19 deaths rose by another 5 to 46, amid fresh warnings from a doctor’s group that up to five percent of Colombo residents could be infected.

Sri Lanka’s anti-Covid-19 task force said President Gotabaya Rajapaksa barred travel out of the Western province till November 15 over weekend.

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Colombo Transmission

The 635 new cases confirmed on November 11, was 10 coming from foreign returnees.

It is the the third highest daily total found after positive results in the second day of testing in a factory in Minuwangoda and the second day’s tests at the Peliyagoda fish-market.

Sri Lanka’s Government Medical Officer’s Association warned that the prevalence of Coronavirus in Colombo was high and random tests were required in other areas to find the correct level of the disease.

“Out of about 400 tests randomly carried out in Colombo Municipality area – these are not high risk groups, basically random people moving around – 19 were positive,” Government Medical Officer’s Association editor Haritha Aluthge told reporters.

“What it means is that we can estimate that roughly about 5 percent of the people in the Colombo Municipality area are infected with Covid 19.”

“If we do not take the correct steps we will have to talk more about deaths than infected persons in December.”

Sri Lanka has already placed parts of Colombo are under strict isolation and Gampaha is under strict curfews. Authorities say numbers in Gampaha are going down.

Community Transmission

The GMOA warning comes as authorities still insist that there is no community transmission.

The World Health Organization says community transmission starts in cities and spreads, though it is not classified as a separate stage.

“Cities are often national and international epicentres in the COVID-19 pandemic,” the World Health Organization says.

“Cities act as centres of community transmission, as well as entry points into further country-wide transmission through national and international travel and trade. They also often serve as points for health-care surge.”

The GMOA called for inter-district travel restrictions last month, while locking down smaller areas.

Sri Lanka found the first confirmed case of the current cluster in Gampaha on October 03, but has been trying to contain the disease with lockdowns of small areas.

Authorities initially insisted that all contacts came from the Minuwangoda cluster though later it turned out that many infected persons were coming from a fish market cluster.

As early as October 10, a fisherman in a multi-day boat was found infected. The fish-market cluster was found around October 20 and authorities then put curfew in nearby areas, which are still isolated.

East Asia City Battles

There was community transmission in Wuhan, China, and authorities contained it by locking down the city and tracing people who went on holiday for Chinese New Year out of the city.

Vietnam which is far ahead in battling Coronavirus than Korea, contained an outbreak in Da Nang city, a holiday hotspot, which started in July 26, by placing movement restrictions at the perimeter.

Authorities gave two days for holiday makers estimated at over 30,000 leave the city, then stopped flights, buses and rail.

Everyone who went out was asked to self-isolate and register with respective regional authorities. In March Sri Lanka also asked everyone who came from abroad to register and self-isolate and broght outbreak under control.

Vietnam does not have strict curfews like Sri Lanka, but used inter district movement controls, social distancing, masks and ‘social isolation’ – a stay at home request where people are asked to shop only once a week and avoid travel.

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Vietnam authorities also do not blame the public for not being careful. Controls were relaxed social distancing was lifted after outbreaks were brought to zero and re-imposed immediately after the first case was found in the July outbreak.

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Many successful nations also have different levels of controls so that the population is not wearied.

Vietnam brought the January 2020 outbreak from Wuhan to zero; the February to April outbreak to zero backed by institutional quarantine of first (F1) contacts, in contrast to Korea, a country which report new deaths every day.

Over 467 deaths including 2 on November 11 has been reported in South Korea with over 27,000 cases compared to 35 deaths in Vietnam in July-August and a total cases of 1,254 including foreign arrivals.

There was a gap of over 100 since the July outbreak. There have been no domestic cases or deaths since.

Vietnam economy is estimated to grow 1.2 percent in 2020 by the International Monetary Fund.

Vietnam also has probably has the most advanced testing protocols involving two tests 24 hours apart on F1 contacts, and two other tests during the incubation period and a test after release from quarantine.

Rising Deaths

Meanwhile Sri Lanka has appointed a committee to review rising deaths with many dying at home.

Whether tests were conducted on family members to find whether they were infected is not known.

“The director general of health services decided to appoint a committee to review these deaths and report whether these deaths occurred due to Covid 19 or due to other diseases which worsened with Covid 19 virus,” chief epidemiologist Sudath Samaraweera told reporters.

“Or whether it is due to a delay from the patients’ side or the health services side and what are the steps we can take to prevent this situation in the future.”

On November 11, five new deaths were reported.

An 80-year old from Panadura, South of Colombo had died on admission to Police hospital, becoming the 42 death. He was found to have had a heart attack and a Covid-19 infection at post-mortem, the state information office said.

A 40-year old had died on admission to the Colombo National Hospital. He was determined to have been died of a heart attack related to Covid-19.

A 45-year old from Kelaniya who was being treated at District Hospital in Hambantota from November 01, 2020 for Coronavirus had died of a heart attack.

A 68-year old female had died at home in Maligawatte, Colombo 10. She was determined to have high blood pressure and a heart attack due to Covid-19.

A 63-year old from Imbulgoda, had died while being treated at Apeksha Hospital in Maharagama. A PCR test at post-mortem had confirmed that he was infected with Covid-19. Worsening leukemia and respiratory complications were determined to be the cause of death.

All Colombo prisons are closed for two weeks, reports said, staff are not allowed to go home.

Sri Lanka has also hiked bus fares, which is a sustainable solution to carrying a lower number of passengers. (Colombo/Nov12/2020)

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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