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Monday November 9th, 2026

Dolphin Detail

Kids spied them first, sending shrieks aloft. Grownups grabbed their pre-lunch Proseccos and beat it down steps to join the admiring chorus. From the low bow deck of our rented sail yacht motoring (no wind) off Lanka’s south coast, we watched in noisy glee as the dolphins practised their ‘bow-riding’— surfing the wave pushed ahead and off to the side by the boat.

It looked a ton of fun and quite competitive among maybe a couple dozen bottlenoses. The big prize is to seize and hold position at wave’s apex, hurtling straight forward for a chill-and-thrill moment before some jostle or watery flux pushes left or right, forcing fall-off down the backward-flowing wake, followed by effortful struggle to maintain and improve placement among wriggling peers.

Bottlenoses frolic all around Sri Lanka, loving the continental shelf stretching out from beach to deep ocean slope. Organic nutrients flowing seaside from Lankan streams and swept in on favourable currents support a marine food chain second to none. Bottlenoses hold their breath and dive right down to the shelf floor when hungry enough for the buffet. In depths too murky for eyesight, they find their fishy prey through echolocation, akin to what bats do in the air.

Sound carries fast and far in water, with bottlenoses taking full advantage. From nasal cavities, they send rapid bursts of high-frequency clicks through a fluid, fatty ‘melon’ in their foreheads, which acts like a lens, focusing the sound into a directed beam. Echoes reverberate back from underwater features and objects, including fish. Echoed sound flows in through their lower jaws, also filled with fatty fluid, to their inner ears and thence to their brains, where wiring converts information into imagery comparable to sonogram. They see their surroundings with sound, using much the same brain matter devoted to vision in terrestrial animals. They may even use echoed clicks from their hunting partners to sharpen their ‘sight.’ They can pick out a ping-pong ball at 100 meters, roughly equal to human eyesight (verified by experiment on the lane with my son, Nate). With echolocation, bottlenoses can detect bones, muscle and organs, even fetuses, inside other creatures.

Their clicks rise in frequency as they close on their quarry, facilitating pinpoint accuracy as they strike.

Bottlenoses emerged 2-5 million years ago (mya). They fall into two recognized species: ‘common’ and ‘Indo-Pacific,’ the former inclined toward deep sea, the latter toward shore. Other distinct species may exist as well, with breaks between shore and deep sea populations prevailing widely. They belong to the Cetacean (whales and dolphins) sub-order, which originated some 50 mya in Sri Lanka’s general neighbourhood, diverging from even-toed ungulates (mammals with hooves), an order comprising present-day pigs, camels, sheep, cattle, giraffe and deer. Cetaceans claim hippos as their closest living relative. Bottlenoses fall into the odontocete branch (echolocating cetaceans with teeth), as opposed to mysticetes (filter-feeding cetaceans with baleen instead of teeth).

Tell-tale early fossils lie in the high Himalaya, lifted there as India slammed into Asia, beginning also around 50 mya and continuing since then. The earliest known cetacean, Pakicetus, was a smallish deer-like creature spending some of its time in freshwater streams that flooded seasonally. Heavy bone marrow provided ballast for ensuing forms of non-swimming freshwater waders and bottom-walkers.

By and by, of course, cetaceans learned to swim, spending more and more time chasing fish while returning to land for sleep, mating, birthing and nursing, like today’s seals and walrus. They moved downstream to deeper waters, bringing forth species adapted to diverse riverine habitats as the rising Himalaya created variegated terrain. As early as 49 mya, Ambulocetus, a slow-swimming ambush hunter sized like a sea lion, spilled into shallow seas while continuing to move ably on land, like crocodiles.

At 45 mya, Remingtonocetus improved sharply on previously-developing underwater hearing as it prowled muddy bays disfavoring eyesight. At 40 mya, some cetaceans renounced land entirely and began dispersing through global seas. Their forelimbs became flippers while their hind legs shrank into vestiges. Those who clung to land or fresh water disappeared. At around 35 mya, odontocetes split from mysticetes, beginning their deep-dive journey into echolocation. They eventually came to compete in apex predatorship with sharks dominant since when the dinosaur extinction (65 mya) swept marine reptiles into oblivion. Sometime along the way, today’s echolocating river dolphins migrated back into fresh water from the sea.

Numerous anecdotes of bottlenose intelligence require no recital here. Their brain-to-body ratio, an indicator of high intelligence, ranks among the top in the animal kingdom. Their cortical neurons may outnumber those of chimps and perhaps even rival humans. Even more fascinating is emergent science on how and why they got so brainy. As with other super-smart mammals, their story turns on social complexity, cooperativity and sensitivity. Young bottlenoses bond with and learn richly from an array of cooperating ‘aunties’ who share parental tasks, assisting actual mothers. This ‘alloparenting’ (caregiving by others than mothers) breeds emotional sensitivity among juveniles across a range of relationships, requiring and rewarding neuronal proliferation.

Meanwhile among aunties, cultivating trust relationships requires vast neuronal investment in capacities like memory, game theory, skill evaluation, situational assessment and social sanctioning. In a rare feature, females commonly live long past their reproductive years. Their long-life wisdom confers auntie benefits on juveniles and pods. That bottlenose pods fluctuate on a fission/fusion spectrum—separating and joining as circumstances vary—only intensifies pressure toward complex social judgement. Bottlenoses analyze not only how individual fellows may behave but also how different groupings may perform. Who will hunt and babysit well together under these particular conditions? Pod formation revolves largely though not exclusively around kinship. Pods coalesce around charismatic ‘socialites,’ who nurture links with other pods.

Cooperative hunting merits recognition as a bottlenose trademark. Coordinate fishing tactics include herding prey into tight balls, roundups through crescent formations, trapping against natural barriers and attack from multiple sides. In Florida, ‘driver’ bottlenoses terrify prey toward multi-dolphin ‘barriers.’ Remarkably enough, certain experts play ‘driver’ time and time again, excluding other candidates. To our knowledge, no other marine hunters anoint ‘designated drivers’ this way. Bottlenoses often assist and profit from human fishing. In Brazil they drive mullet shoals toward fishermen holding nets and eat fish that break formation.

Bottlenoses analyze not only how individual fellows may behave but also how different groupings may perform

Bottlenoses count among the few species who pass the ‘Mirror Self-Recognition’ (MSR) test. In a mirror, terrestrial mammals like chimps and orangutans can see and touch spots placed on body parts they cannot normally see (e.g. foreheads), convincingly demonstrating awareness that they are viewing their own images. Bottlenoses cannot touch spots with their flippers but they do manifest intense fascination with their mirror images. They watch themselves open their mouths, stick their tongues out, twirl, roll, blow bubbles and look at body parts. They inspect their markings closely. MSR capacity appears in species with large complex brains, high sociality and emotional empathy. Bottlenoses pass the mirror test as early as five months of age, while humans do so only at about 16 months. While this does not mean they are smarter or more empathic than humans, it does indicate high marks. They frequently offer assistance and rescue toward their own kind and toward other animals, including humans.[UH1].

Bottlenoses wield an array of whistle noises to coordinate activity, exchange information and socialize. Some experts believe this communication to be quite complex. Each individual acquires a unique ‘signature whistle’ that works as a nametag, as a locator and possibly as a signal of emotional state. Pregnant females step up their whistling as birth approaches, a behaviour called ‘fetus whispering,’ imprinting her ‘voice’ into her offspring’s memory. Intensified whistling continues for a few weeks after the birth before tapering off.

The internet lit up five years ago when a Russian scientist, no dolphin expert, claimed that bottlenoses utilize outright language, based on his whistle recordings purporting to reveal phonemes, words and sentences. Captive bottlenoses grasp at least elementary syntax, understanding the difference between ‘bring the frisbee to the ball’ and ‘bring the ball to the frisbee.’ Scepticism is in order, however. Experts on bottlenose communication quickly challenged the Russian study’s methodology and assumptions. One emerging theory of human language evolution precludes any likelihood of dolphin acquisition. Language may have emerged to facilitate transmission of toolmaking technique across generations. Language and complex manipulation draw upon much the same human brain regions as each other. No toolmaking or manipulation? No language.

Reports indicate a high incidence of illegal bottlenose hunting in Lankan waters: enforcement appears inadequate. Bottlenose meat goes to human consumption and longline fishing bait. Thriving in warm and temperate seas the world over, bottlenoses stand in no danger of extinction. If we wish them better protection, we must entertain other reasons.

Reports indicate a high incidence of illegal bottlenose hunting in Lankan waters: enforcement appears inadequate

A graduate of Harvard Law School, Mark Hager lives with his family in Pelawatte. mark.hager@gmail.com

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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