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Monday November 9th, 2026

Sri Lanka cracking down on dissent, threats of violence, intimidation: HRW

ECONOMYNEXT – Sri Lanka’s government is crackdown on peaceful dissent is misguided and there is heightened surveillance and threats of violence on lawyers and media, US-based Human Rights Watch, has warned.

Several prominent protestors and social media activists have been arrested.

On August 2, the authorities seized the passport of a British national, Kayleigh Fraser, who had posted about the protests on social media.

“The Sri Lankan government’s crackdown on peaceful dissent appears to be a misguided and unlawful attempt to divert attention from the need to address the country’s urgent economic crisis,” Meenakshi Ganguly, South Asia director at Human Rights Watch said in a statement.

“Sri Lanka’s international partners should be clear that they need to be working with a rights-respecting administration to address Sri Lanka’s deeply rooted economic problems.”

HRW said under emergency regulations there were “extreme sentencing rules” where damage to property can carry a lifetime sentence with up to 20 years in prison.

“Human rights defenders said that the police sought to obstruct defense lawyers from meeting with four protesters who had been arrested after they handed over to the police a large sum of money taken from the president’s official residence after protesters had occupied it,” HRW said.

“Lawyers and media organizations told Human Rights Watch that they have experienced increased intimidation, including threats of violence and surveillance.”

The full statement is reproduced below:

Sri Lanka: Heightened Crackdown on Dissent

(New York) – The Sri Lankan government is using emergency regulations to harass and arbitrarily detain activists seeking political reform and accountability for the country’s economic crisis, Human Rights Watch said today. Since Ranil Wickremesinghe was sworn in as president on July 21, 2022, the police and military have sought to curtail protests through the intimidation, surveillance, and arbitrary arrests of demonstrators, civil society activists, lawyers, and journalists.

Anti-government protests in Colombo and elsewhere in the country led then-President Gotabaya Rajapaksa to flee the country before resigning on July 15. On July 22, President Wickremesinghe ordered security forces to disperse protesters and break up their main site in central Colombo. The police have subsequently targeted perceived protest leaders for arrest and detention.

“The Sri Lankan government’s crackdown on peaceful dissent appears to be a misguided and unlawful attempt to divert attention from the need to address the country’s urgent economic crisis,” said Meenakshi Ganguly, South Asia director at Human Rights Watch. “Sri Lanka’s international partners should be clear that they need to be working with a rights-respecting administration to address Sri Lanka’s deeply rooted economic problems.”

Security forces injured more than 50 people in the July 22 early morning raid on the main janatha aragalaya (people’s struggle) site in Colombo. Security forces assaulted and beat three journalists from Xposure News – Chaturanga Pradeep Kumara, Rasika Gunawardana, and Shabeer Mohammed – and at least one other journalist, Jareen Samuel of the BBC, during the raid. Wickremesinghe berated foreign diplomats for criticizing the security forces’ use of excessive force and took no action to hold those responsible to account.

A number of Buddhist monks and Christian clergy had joined the protests. The media reported that the Colombo Magistrates’ Court on July 25 had issued a travel ban on Father Jeewantha Peiris, a Catholic priest who had been prominent in the protests, and several others. Two days later police visited Father Peiris’s church and said that they had orders to arrest him. In a July 31 statement, 1,640 members of the Catholic clergy condemned targeting the priest, saying that they had all backed the protests.

On July 26, the authorities arrested another prominent protester, Dhaniz Ali, from an international flight about to depart from Colombo. On July 27, unidentified men in civilian clothes abducted Veranga Pushpika, a former student activist and journalist who had also been active in the protests, from a bus in Colombo. Police did not disclose his whereabouts to lawyers or the Human Rights Commission for several hours before acknowledging his arrest.

Human rights defenders said that the police sought to obstruct defense lawyers from meeting with four protesters who had been arrested after they handed over to the police a large sum of money taken from the president’s official residence after protesters had occupied it.

Lawyers and media organizations told Human Rights Watch that they have experienced increased intimidation, including threats of violence and surveillance.

In one episode, a group of men claiming to be police officers, but not wearing uniform, visited the office of an online publication, Xposure News, on July 27 and demanded that a security guard identify people shown in photographs and show them CCTV footage.

On July 31, a student protester said in a statement on Facebook that he had been detained and interrogated for three hours by security force personnel who warned him that they could plant drugs on him and arrest him. Police summoned the social media activist Rathidu Senarathna, known as “Ratta,” on August 1 and arrested him after questioning.

A Colombo magistrate also issued a foreign travel ban on Senarathna and 11 others suspected of illegal assembly and causing damage to property. On August 2, the authorities seized the passport of a British national, Kayleigh Fraser, who had posted about the protests on social media.

The authorities arrested at least seven people for the July 9 arson attack on Wickremesinghe’s private residence. Activists said that at least some of those detained were known to have been bystanders. Police are investigating a hotel that allegedly provided food to protesters and have raided, sometimes without warrants, the homes or workplaces of several protesters who are in hiding.

In a statement, 175 Sri Lankan human rights defenders and civil society organizations expressed concern about “disturbing developments of abduction, arrest, intimidation, and reprisals against protesters.” Members of the Catholic clergy said the government should “stop the repression of those involved and supporting the Aragalaya and focus on listening to grievances and aspirations of people and take actions to address both immediate and long-term problems.”

Under the state of emergency that President Wickremesinghe declared on July 18, the period that a person may be detained before being brought before a magistrate has been increased from 24 to 72 hours.

The authorities have been granted sweeping additional powers of search and arrest, and the military has been empowered to detain people for up to a day without disclosing their detention. These provisions increase the risk of torture and enforced disappearance.

Under international human rights law, protections against torture, the excessive use of force, and other fundamental rights must never be violated, including during a state of emergency. Provisions of the state of emergency contrary to international standards should be immediately revoked, Human Rights Watch said.

The emergency regulations also introduce extreme new sentencing rules for several offenses, including damage to property and trespassing, which can now result in a life sentence and carry a minimum term of 20 years in prison. Among the offenses subject to harsher sentencing is a provision of the penal code that has previously been used to prosecute same-sex conduct. The decree provides that bail will not be available for those accused of offenses under the emergency regulations.

The state of emergency also gives the president and the police broad powers to ban public gatherings, allows the police or military to order anyone to leave any public place or face arrest, and makes it an offense to cause “disaffection” or to spread “rumors.” These provisions are vague, overly broad, and disproportionate in violation of the rights to freedom of expression, peaceful assembly, association, and movement.

In a statement following the assault on protesters on July 22, the European Union noted that it “expects the new Government to work in full compliance” with its human rights commitments, made in exchange for tariff free access to the EU market under the bloc’s GSP+ program.

The World Bank said in a statement that the government should address “the root structural causes that created this crisis to ensure that Sri Lanka’s future recovery and development is resilient and inclusive.” Earlier, the United States Senate Foreign Relations Committee stated that any agreement with the International Monetary Fund “must be contingent on … strong anti-corruption measures and promotion of the rule of law.”

“The people of Sri Lanka are reeling under an economic crisis that has plunged millions into food insecurity, the closure of schools, and shortages of medicine, fuel, and other necessities,” Ganguly said. “The government needs to end its repressive policies and practices and act urgently to address people’s basic needs, win public trust, and uphold the rule of law by holding those responsible to account.”

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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