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Monday November 9th, 2026

Anger, suspicion prevail as Sri Lanka Catholics mark fifth year of Easter attack

MOURNING FOR EASTER VICTIMS – Worshippers at St Sebastian’s Church in Katuwapitiya on July 1st when the Church reopened after the Easter bombings/Pathum Dhananajana EconomyNext

ECONOMYNEXT – Five years after Sri Lanka’s worst ever attack on churches, the island nation’s ethnic minority Catholics are still struggling for justice and find the mastermind behind the Easter Sunday carnage that killed at least 269 people in 2019.

The attack was carried out by local Islamist militants, but the investigations have failed to find the reason for the attack and who was behind local Islamist suicide bombers.

Successive governments have promised independent probes into the attack, but nothing was done.

And still key political parties use the Easter attack probe as their election promise.

A parliament fact finding panel, a presidential commission of inquiry, and police investigations have found crucial facts related to the attack and those who are involved in the crime.

However, Catholic leaders say no justice have been served for the innocent followers who were killed brutally when they were on prayers.

“I remember, a day after receiving the presidential commission report, (former president) Gotabaya Rajapaksa called me and told he cannot implement the recommendations because it will lead to arrest some leaders who are close to him and ban some organization,” Sri Lanka’s Catholic leader Cardinal Malcom Ranjith told at the commemoration event on Sunday.

“It is sad to note the actions by president (Gotabaya Rajapaksa) to sabotage the investigations by removing the investigators from the posts – one official was arrested, and others were transferred to far areas and appointing his allies to investigate it and manipulate it as he wanted.”

He said both former president Gotabaya Rajapaksa and current leader Ranil Wickremesinghe did not even acknowledge a letter by the Catholic clergies requesting an independent investigation.

“From all these actions, we have a suspicion over one thing. Both former government and this government are trying to cover up the truth and protect some people and organizations involved with this (Easter attack).”

Gotabaya Rajapaksa has denied any involvement in the attack, which later led to anti-Muslim riots in some parts of the country.

NEW FACTS IN PARLIAMENT THIS WEEK?

The island nation’s parliament has already discussed and debated about the Easter attack for 11 days.

With the new topics and former president Maithripala Sirisena’s recent claim that he knew the master mind following a statement to the police criminal investigation unit, the parliament has scheduled another three-day debate the attack this week.

Sirisena has given a statement at the Criminal Investigation Department (CID) on the Easter Sunday on March 25 after he was called by the police for questioning. Government sources have said Sirisena has accused India of having a hand in the attack.

India is yet to make an official statement on Sirisena’s allegation as he has recorded his statement in a confidential manner.

Sirisena, who was asked by the country’s Supreme Court to pay 100 million Sri Lanka rupees for the Easter attack victims for his failure to prevent the carnage, is a legislator now and has been leading center-left Sri Lanka Freedom Party (SLFP).

It is still not immediately clear if Sirisena has strong evidence for his latest claim.

Investigations into the attack have revealed there had been serious lapses in intelligence where law implementing agency neglected a series of warning by Indian intelligence agency.

Despite an in-depth probe by the local authorities, the investigators failed to identify the real motive and the mastermind of the attack so far.

Last week, Father Cyril Gamini Fernando, the spokesperson of the Archdiocese of Colombo, on Friday (19) said there were eight questions that were unanswered by the authorities, disclosing some new facts in the investigations.

He questioned a range of issues including what he called as covered up murders of two police officials in November 2018, suspicion over the involvement of military intelligence in that cover up, and some other communications with the terror leader Zahran Hashim.

He also asked the mysterious handling of the final suicide bomber who was supposed to attack Taj Hotel, role of a key military leader who was close to Gotabaya Rajapaksa, and the role of a foreign handler, possibly from India.

Father Fernando was asked to make a statement by the Police Criminal Investigation Department last week over the information they he had got on the attack.

ELUSIVE JUSTICE

We have said what we knew more than enough, but we don’t understand if there had been investigations over those,” Father Fernando told reporters after making the statement to the CID.

“Even now, I don’t know if what we say would be useful. I think there are enough information as far as I know. There are enough information to find the truth and who has been behind the attack. But those are not happening,” he said.

“The problem is not with the law, but with those who implement the law. I personally have no confidence if there would be justice, It is not only about this, but about everything. How many murders and disappearance have taken place?”

“Nothing is happening not because there is a problem in the law, but the rulers want to cover them up. Until such system prevails, we would not get the justice. People should understand this.”

Cardinal Malcom Ranjith has said the Catholic Church has not been given the full report of the Presidential Commission of Inquiry (PCoI) on Sri Lanka’s Easter Sunday attack and there had been over 1,500 missing pages in the report which included key information on evidence of Hadiya (terror leader Zahran’s wife).

Public Security Minister Tiran Alles has said there was no deliberate attempt to hide anything.

ALLES RESPONDS

Sri Lanka’s Catholic leadership had demanded an independent investigation into the attack and said the Easter carnage clearly supported former President Gotabaya Rajapaksa to win the 2019 presidency.

Alles this week said Cardinal and some Catholic clergies have gone to media without engaging with the law implementing authorities.

“Since the day I got this minister post, I have been asking both cardinal and Catholic Church to look into the continuous investigation done by police. I will bring all of them and make a presentation. If there is any shortcomings, let me know,” Alles said addressing a political meeting on Sunday.

“There are various talks about a mastermind. I have given a promise that whoever is involved, even if it is a powerful political leader, I will arrest him. It has been two years since I have promised them and invited to discuss the investigations with us to see who the real mastermind is.”

“But unfortunately, the cardinal and some priests conduct press conferences and say the government has not been doing anything and has not found the mastermind. They have been telling the same thing in all the press conferences.”

“I invite both the Cardinal and the Catholic Church to place go through the police investigation and to conclude these investigations.” (Colombo/April 23/2024)

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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