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Monday November 9th, 2026

Trade union warns of lockdown action as Sri Lanka loses another 171 lives

CURFEW RUSH: Commuters scrambling to get home after curfew was declared in Sri Lanka on March 20, 2020.

ECONOMYNEXT – As Sri Lanka confirmed a record 171 COVID-19 deaths on Tuesday (17), a trade union threatened a 10-day self-imposed lockdown starting next Monday (23), while government and opposition MPs traded charges on who was to blame for the country’s worst public health crisis in recent times.

Declaring their intent to start a lockdown, Inter-Company Employees’ Union Chairman and former Janatha Vimukthi Peramuna (JVP) MP Wasantha Samarasinghe said Tuesday afternoon that, if the government doesn’t announce a “scientific lockdown” by Friday (20),  their members in government and private sectors, estates and other sectors of the economy will go into a self-imposed lockdown next Monday onward.

The union’s demand comes as media reports said business in at least 31 towns across the island have suspended operations in the face of surging COVID-19 deaths and infections, many of which are attributed to the fast-spreading delta variant of SARS-CoV-2, the virus that causes the disease.

Many businesses will be closed over the next two weeks, reports said, as COVID-19 continues to overwhelm the country’s health sector.

With Tuesday’s 171 deaths, the COVID-19 death toll in Sri Lanka has shot up to 6,434. At the time of writing, 2,663 new infections were confirmed, bringing total COVID-19 cases in Sri Lanka since March last year to 364,737. The announcement from the government information department came hours after State Minister Channa Jayasumana told parliament that three mutations of the delta variant have been discovered in Sri Lanka.

Related:  Three mutations of delta strain discovered in Sri Lanka: minister

Jayasumana also blamed the spike in cases on the wave of protest marches and demonstrations that swept the country in July.

“Health experts had warned us by July 15-18 of the dangers of the new variant, but the [main opposition] Samagi Jana Balavegaya and the JVP organised protests all over the country, helping the virus spread,” he told parliament.

“Now these same people are saying the government should take responsibility,” he added.

Though the protests have now come to a halt in view of the growing outbreak, detractors of the government contend that it’s more likely that superspreader indoor events such as weddings – which the government had permitted until midnight Tuesday – were just as likely, if not more so, to contribute to the spread.

There have also been allegations of manipulated data.

“Data released by the government [don’t represent actual numbers of daily COVID-19 cases]. These lives that are being lost cannot be brought back,” said Samarasinghe, at the union collective’s press conference.

Samarasinghe was referring to what may be a significant discrepancy between daily COVID-19 cases confirmed by Sri Lanka’s health authorities and the number of people that actually test positive on a given day.

Eastern Province Health Services Provincial Director Dr R M Thaufeeque told reporters last Wednesday (11) that 837 cases found in the Eastern province the previous day (10) did not tally with the 194 cases reported by the health ministry’s epidemiology unit.

“We identified 342 patients in Batticaloa, 227 in Ampara, 105 in Kalmunai and 163 in Trincomalee,” said Thaufeeque.

However, according to the epid unit, the numbers for last Tuesday in the Eastern province were: 45 in Batticaloa, 78 in Ampara and Kalmunai, and 71 in Trincomalee.

The same discrepancy was brought up in parliament this Tuesday by SJB MP and former health minister Rajitha Senaratne who claimed a shadowy major general in the army has been manipulating government data.

“It’s easier for you than for me to find out who this major general is,” Senaratne told government MPs.

“We won’t mention the name today, but it will be revealed in due course,” he said.

The trade unions’ call for a lockdown – a repeat of repeated calls by the medical community – was echoed by opposition leader and SJB leader Sajith Premadasa in parliament Tuesday morning.

Inviting the government to learn from past mistakes, Premadasa said Sri Lanka must follow the advice offered by a group of experts that World Health Organisation (WHO) Sri Lanka had convened earlier this month for a discussion on the island nation’s COVID-19 situation.

The experts, among who was Prof Malik Peiris, Chair/Professor of the School of Public Health, University of Hong Kong, called for swift and stringent mobility restrictions to save some 18,000 lives by January 2022.

Related: Act now to save 18,000 lives, experts convened by WHO Sri Lanka urge

“If we go for a two-week lockdown for a start, we can bring that 6,000 down to 1,000, and the 220 to 25,” said Premadasa.

“Are we ready to save these lives as a country? As the opposition, we are ready. Is the government ready?” he added.

Recalling his own brush with the disease – Premadasa had tested positive for asymptomatic COVID-19 some months ago – the opposition leader said: “I don’t hesitate to say I was afraid for my life. Millions in Sri Lanka are now facing that same fear.”

“Let’s all get together and ask the president to lock down the country for two weeks,” he added.

Premadasa had previously declined vaccination against COVID-19, claiming that he would wait his turn until the rest of the population was vaccinated. His and other MPs’ delay in getting the vaccine was criticised by some commentators as promoting vaccine hesitancy in Sri Lanka. However, Premadasa got the shot on August 03 under “strict instructions of doctors”.

Meanwhile, former president Maithripala Sirisena speaking in parliament requested President Gotabaya Rajapaksa for a meeting of party leaders representing parliament.

“I think we can do more to obtain WHO support. In this exercise, we have to listen to everyone and be flexible,” he added.

Newly sworn-in health minister Keheliya Rambukwella, however, is not keen on a lockdown proper.

“We have to bear in mind that all these variants can enter the country at any point. That’s how the health sector has functioned [through this crisis]. We hope the variants don’t come here, but we cannot predict that with certainty. We don’t have a permanent mechanism to stop them from coming in,” he said speaking at an event on Tuesday.

“One idea is to lockdown for two weeks. We locked down for months, but what happened? This how it is in the [rest of the] world too.

“Then there are daily wage earners. No one talks about them,” he added.

The minister also defended a newly introduced curfew between 10pm and 4am, which some have criticised as being futile in the face of the highly infectious delta.

“Curfew at that time is important because it will put a stop to things like beach parties. This is as far as we can go. If we go beyond that, this country will be pushed to place we cannot imagine. We’re trying to contain the situation by meeting at a midpoint [between these extremes],” he said.

The new health minister’s position notwithstanding, the “forced lockdown” by unions will go ahead, the union representatives insisted.

President of the Government Nursing Officers’ Association Saman Rathnapriya, who spoke with Samarasinghe and others at Tuesday’s press conference, said: “A scientific lockdown is a must now. Do it for 10 days.”

Rathnapriya also called for a total border closure during this period.

“There is no need for airplanes with people onboard to land during this period,” he said.

“We urge the public to get ready to do this with us,” he added.

Joint Council for Professions of Supplementary Medicine (JCPSM) president Ravi Kumudesh who also spoke at the event said it is time the government stopped being stubborn and listened to the experts.

“We’re not ready to give this job to the gods and look the other way,” he said, in an apparent jab at health minister Rambukwella who famously said some days before his appointment that, once Sri Lanka’s vaccine rollout is complete, “the rest is up to the gods”.

Related: Sri Lanka outgoing health minister bids emotional farewell; didn’t see reshuffle coming

“By Monday, we’re going to have to force a lockdown in this country,” said Kumudesh.

He also warned against a lockdown for the sake of a lockdown, accusing the government of imposing movement restrictions in name only.

“There are five times more patients than are currently being found. Impose this scientific lockdown, and we shall take the responsibility of doing 100,000 tests,” he said. (Colombo/Aug17/2021)

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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