An Echelon Media Company
Friday November 13th, 2026

Easter Sunday Massacre happened because minorities don’t matter

A week ago one of the greatest ever civilian tragedies in the world in our time took place as hundreds of Christians worshiping on their most important day were brutally killed in Sri Lanka by suicide bombers motivated by an extremist ideology.

Within hours it became known that the Intelligence Agencies and officials had information about an impending attack against Roman Catholic churches and Hotels by a group motivated by a fanatical group with Islamist roots.

Little or no action was taken.

This now proves that in today’s Sri Lanka the safety of minorities do not matter.

On Friday when President Maithripala Sirisena met Media Heads in Colombo he detailed what had taken place since April 4 when a foreign Intelligence Agency – which we know now is from India – first informed our defense establishment that Catholic Churches and Tourist destinations were going to be targeted by Islamist extremist suicide bombers.

President Maithripala Sirisena addressing media today/Sudath Silva PMD
“They followed procedure but didn’t inform me”

He told the gathered media that the information came to the Director National Intelligence on April 4. Then it went to the then Secretary Ministry of Defense Hemasiri Fernando. He then made a minute and sent it to the Inspector General of Police Pujith Jayasundera. The IGP sent it to his Staff DIG with an additional minute.

 “They followed procedure, the information went from the Secretary to the IG and up and down. Nobody informed me or the Prime Minister of this impending attack. That is why I asked the Secretary and the IGP to resign,” the President said.

He said that the Ministers and officials had asked him to cancel Cabinet meetings and other official events during the Avurudu season.

“The Secretary and the IGP came to wish me on the day of the New Year, they did not appraise me about this impending threat,” the President told the Media.

File photo Army search operation/defence.lk
Muslim Civil Society warned police of the growth of extremism

On the other hand members from the Muslim community in Sri Lanka have been sending warning signals to the authorities about extremism in their community from 2014.

Journalist Hilmy Ahamed told RepublicNext he and a group of concerned Muslims had been meeting defense ministry and Intelligence officials with regard to the rise of anti-Muslim movements and the reaction to that from within their community since 2014.

Ahamed who is Vice-Chair of the Sri Lanka Council of Muslims says that a broad coalition of Muslim civil society organizations led by the All Ceylon Jamiyyatul Ulema had asked the defense establishment to curb the activities of the Bodu Bala Sena led by the Monk Galagoda-aththe Gnanasara as he was being virulently anti-Muslim.

“At the same time we pointed out to the Intelligence agencies that the actions of people such as Ven. Gnanasara was giving credence to the ideology spouted by extremist groups within the Muslim spectrum such as the Sri Lanka Thowheed Jamaat,” Ahamed said.

Interrogations of the many suspects from the Islamist groups arrested after the Easter Sunday massacre have confirmed this information as they have told the investigators that their primary motivation for forming their groups has been the rise of Gnanasara and like-minded extremist groups from the Sinhala Buddhist Right-wing sponsored at a high level during the last regime. 

Former Secretary to the Ministry of Defense and presidential aspirant Gotabaya Rajapaksa was often associated with Gnanasara and other groups such as Ravana Balaya, even appearing as a chief guest at their events.

Ahamed and others met with Intelligence officials several times and asked for the arrest of Zaharan Hashmi and others who were advocating the killing of followers of all other religions who they call infidels.

Ahamed met with high level intelligence officials on December 28th and February 11th again calling for Zahran’s arrest as his splinter group the National Thowheed Jamaat developed connections to like-minded groups in India, in Tamilnadu.

But nothing was done.

After the attack police action has been swift

Informed sources said that Police had repeatedly gone to arrest Zaharan but he appeared to be tipped off as he was able to flee to India by sea and stay there until the heat was off.

The speed and efficiency shown by the security forces in going after the extremist groups, rolling up at least eight terrorist cells and homing in on the safe-houses in Negombo, Dematagoda, Sainthamaruthu and other places showed that they had the information that was required to shackle these groups for some time.

A CID source said “we knew about these people and what they were up to, but we never were asked to prioritize action against them.”

The information was there, but there was no political will.

On the part of the Roman Catholic Church, its leader Malcolm Cardinal Ranjith has been silent with regards to communal violence, failing to respond immediately when Muslims were attacked in the Digana area last year.

He has also not condemned more than a hundred attacks on churches, many of them Evangelical places of worship.

In fact when the National Christian Evangelical Alliance of Sri Lanka produced a report about the attacks, President Sirisena reportedly called the Cardinal and asked him about it and he had said there have been no such incidents.

Photo of Zaharan Hashmi which appeared on the IS news agency Amaq

Part of the problem was that some of the Muslim politicians connected to the government were using these extremists for their own political survival.

Even on Friday Minister of Industry and Commerce Rishad Bathiudeen was publicly referring to Zaharan as “Moulvi,” a title that he does not deserve as he was expelled from the course for teachers of Islam for his extreme views.

It is also clear that the top-down culture in Sri Lanka did not help.

When the intelligence warning came saying clearly that tourist destinations and Catholic places of worship were to be attacked only VIP security was tightened.

The police was only interested in protecting their political masters and the ordinary folk were not protected.

Was it because the threat was against a minority?

Nobody in the security apparatus thought it would be a good idea to inform the Catholic and other Christian Churches that maybe it would be a good idea for them to be warned as well.

The UNF government should have seen these signs and acted upon them, especially considering Minister Kabir Hashim had brought it to their notice. President Sirisena is ducking and weaving from the criticism that he is the leader and has failed his peopled.

This was a matter for the Muslims for them to solve internally, was the attitude of the officials.

When the threat came against the Christians, again the apparatus was idle because they are also a minority.

So that is why it is clear that the safety of minorities does not matter in this country.

Sri Lanka stocks close down 0.60-pct, dragged by HNB and LOLC

ECONOMYNEXT – Sri Lanka’s Colombo Stock Exchange closed down on Friday, CSE data showed, with the benchmark All Share Price Index moving down 0.60 percent.

The ASPI was down 133.22 points at 22,024.18, while the more liquid S&P SL20 was down 1.06 percent, or 67.55 points, at 6,298.02.

The ASPI ended the week up 784.53 points from last Friday.

Positive contributors to the ASPI were Dialog Axiata (up 0.40 percent at 50.20 rupees), Distilleries Company of Sri Lanka (up 0.52 percent at 58.30 rupees), Aitken Spence (up 3.60 percent at 151.00 rupees), Ceylon Tobacco Company (up 1.05 percent at 1,828.50 rupees), and LOLC Finance (up 1.96 percent at 5.20 rupees).

Hatton National Bank (down 1.88 percent at 403.75 rupees), Richard Pieris and Company (down 6.21 percent at 27.20 rupees), LOLC Holdings (down 2.17 percent at 405.00 rupees), Sampath Bank (down 1.91 percent at 154.00 rupees), and Singer (Sri Lanka) (down 2.40 percent at 77.30 rupees) were top negative contributors.

Market turnover was 3.23 billion rupees. Capital goods led turnover with 869.21 million rupees. (Colombo/Nov13/2026)

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Sri Lanka MP slams budget speech for omitting Tamil national question

ECONOMYNEXT – A Sri Lanka legislator has voiced strong disappointment that the President’s budget speech failed to make a single mention of the Tamil national question.

“It is very unfortunate that in His Excellency the President’s speech, there has not been a single word mentioned about the Tamil national question. Not a single word,” Shanakiyan Rasamanickam said.

“A budget speech generally, is a policy direction of the government for the next year. The budget speech is not only a statement of the country’s fiscal position or the economy’s position. It is the country’s, the government’s, plan, or what the government plans to do the following year. That’s a policy statement.”

Former presidents would at least mention the Tamil question even if it was not resolved, he said.

Former President Ranil Wickremesinghe in his speech, in his policy statement, he would mention: “The Tamil national question must be resolved,” Rasamanickam said.

Former Presidents Maithripala Sirisena and Gotabaya Rajapaksa also mentioned that the national ethnic question must be resolved, he added.

“Every President, every country’s Head of State, in their policy statements, have acknowledged the fact that there is an unresolved national issue, the Tamil national question, that it needs to be resolved. Various governments have proposed various mechanisms; none of them have succeeded, but at least it was mentioned.”

This year’s budget made allocations for the Office of Missing Persons, and the Office of Reparations.

“But the domestic mechanism is a mechanism that the victim community has rejected. So you all are allocating money to a mechanism where the victim community is not going to be part of.”

Last year’s budget 1 billion was allocated to be spent on the Trincomalee and Jaffna airports.

“Where was that 1 billion for the Trincomalee and Jaffna airports spent last year?”

“The trajectory of this government, Honourable Deputy Speaker, is worrying to me. It’s really worrying to me. Because if the objective is to say that there is no Tamil national question, if the objective is to say that you all have resolved any ethnic issue that this country faced, then Honourable Deputy Speaker, then I think the Tamil people will teach this government a very, very, very harsh lesson in the future.” (Colombo/Nov13/2026)

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Sri Lanka sells extra Rs6.5bn Treasury bills after auction

ECONOMYNEXT – Sri Lanka has sold 6,500 million rupees of treasury bills offered on tap at an average rate of 9.95 percent, the public debt management office said, bringing the total of bills sold in the week to 85.562 billion rupees.

The issue offered 90 billion.

Total market subscription was 6.5 billion rupees.

The debt office sold a 12-month bill at 9.95 percent.

On Wednesday (11) the debt office raised 79 billion rupees of 3, 6 and 12 month bills after offering 90 billion.

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Sri Lanka Treasury bill yields hold broadly steady, less bills sold

The settlement date is November 13. (Colombo/Nov13/2026)

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Access Engineering Sept quarter group net profit surges 200-pct to Rs4.75bn

ECONOMYNEXT — Sri Lanka’s Access Engineering PLC recorded a group net profit attributable to equity holders of Rs. 4.75 billion for the quarter ended September 30, surging 200 percent from Rs. 1.58 billion a year earlier, interim accounts showed.

Basic earnings per share rose to Rs. 4.08 for the September quarter, up from Rs. 1.58 previously.

Quarterly group revenue expanded 36 percent to Rs. 20.39 billion from Rs. 14.94 billion, underpinned by condominium property handovers — reflected in inventories dropping Rs. 7.69 billion since March to Rs. 35.71 billion — alongside strong automobile sales and steady civil engineering execution.

Cost of sales rose at a slower 27 percent to Rs. 14.34 billion, lifting gross profit by 64 percent to Rs. 6.05 billion and expanding gross margins to 29.7 percent from 24.7 percent.

Other income jumped 144 percent to Rs. 259.9 million, while administrative expenses rose 75 percent to Rs. 1.14 billion, leaving operating profit up 64 percent at Rs. 5.16 billion.

However, finance costs more than doubled, rising 107 percent to Rs. 1.18 billion on elevated group borrowings of Rs. 43.74 billion, partly offset by finance income climbing 302 percent to Rs. 42.2 million.

Share of results from equity-accounted investees rose 122 percent to Rs. 26.7 million, pushing pre-tax profit up 56 percent to Rs. 4.05 billion.

Income tax swung to a net reversal of Rs. 186.6 million from an expense of Rs. 804.1 million, boosted by deferred tax assets on unrelieved losses from a 100 percent enhanced capital allowance claimed by 60 percent-owned radiopharmaceutical subsidiary Access Medical Tracers (Private) Limited.

Total period profit rose 136 percent to Rs. 4.24 billion, with non-controlling interest declining 24 percent to Rs. 164.9 million following last year’s buyout of minority shareholders in Harbour Village (Private) Limited.

No separate exchange gain or loss was itemized in quarterly earnings, though foreign currency translation via associates recorded a Rs. 17.4 million loss in other comprehensive income, alongside USD 16.6 million in corporate guarantees.

Notes also flagged an expected Rs. 1.45 billion recovery from the terminated South Asia Commercial and Logistics Hub project, a Rs. 225 million post-quarter legal settlement already provided for, and a Supreme Court appeal over a 2011/12 PAYE tax ruling.

Group assets stood at Rs. 132.4 billion as of September 30, with net asset value per share at Rs. 46.70, as the Employees’ Provident Fund raised its stake to 5.69 percent.

Access Engineering shares closed at 80.00 rupees at the end of September and are currently trading around 85.80 rupees. (Colombo/Nov13/2026)

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Sri Lanka private sector says timely implementation of Budget 2027 key

ECONOMYNEXT – Private sector body, The Ceylon Chamber of Commerce, said it was encouraged by the broad direction of Budget 2027, noting that it reinforces Sri Lanka’s commitment to economic transformation while maintaining policy continuity, macroeconomic stability, and fiscal discipline.

“This continuity is particularly important as the country seeks to transition from economic stabilisation to a more durable, investment-led growth trajectory.”

The chamber also noted several areas where the Budget could have placed greater emphasis to strengthen the country’s growth prospects.

“In particular, there is a need for a stronger focus on attracting Foreign Direct Investment (FDI), accelerating factor market reforms, particularly in land and labour, and fast-tracking public procurement reforms to improve the efficiency and speed of project implementation.

“More targeted and actionable proposals could have been introduced to unlock the potential of sectors with significant growth opportunities, including tourism, agriculture, IT/BPO and logistics.”

The chamber said the budget contains positive measures aimed at enhancing competitiveness, and external sector resilience, while presenting opportunities for focus on sectors that can accelerate growth.

“A number of the key structural reforms identified in last year’s Budget have been carried forward and strengthened, providing greater certainty and predictability to businesses and investors.

“These include the continued implementation of the Trade National Single Window (TNSW), the phased removal of para-tariffs, the rollout of the Digital ID framework, efforts to expand market access through new Free Trade Agreements (FTAs), the strengthening of one-stop-shop investment facilitation mechanisms, progress on Customs reforms, the expansion of Bandaranaike International Airport (BIA), enhanced financing support for SMEs, and reforms relating to the management of State-Owned Enterprises.”

The CCC said that more than 20 proposals submitted by it have been reflected in Budget 2027.

These include measures to strengthen investor facilitation through the establishment of a professionally managed investment promotion agency; continued efforts to improve trade facilitation and export competitiveness; the Government’s consideration of a successor programme with the International Monetary Fund (IMF); accelerated progress on key legislative reforms; the expansion of digital government services; and the promotion of cashless payments and broader digital adoption. The Budget has also captured several priorities relating to energy security, including the accelerated deployment of Battery Energy Storage Systems (BESS) and investments in fuel storage infrastructure, initiatives to optimize underutilized agricultural land, measures to support the expansion of the digital economy and the IT/BPO sector, and tax reforms to support exporters, including the acceptance of newly VAT-registered exporters as eligible exporters.

“The inclusion of these priorities reflects the value of sustained public-private dialogue and demonstrates increasing alignment between national policy objectives and the needs of a competitive, export-oriented economy.

“The priority now must be effective and timely implementation to translate policy commitments into investment, competitiveness, exports and sustainable growth.” (Colombo/Nov13/2026)

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Sri Lanka stocks trend lower day after budget reading

ECONOMYNEXT – Sri Lanka’s Colombo Stock Exchange was trending lower on Friday, CSE data showed, with the benchmark All Share Price Index moving down 0.66 percent.

The ASPI was down 146.78 points at 22,011, while the more liquid S&P SL20 was down 0.94 percent, or 59.99 points, at 6,306.

Positive contributors to the ASPI were Access Engineering (up 1.30 percent at 85.80 rupees), LAUGFS Gas (up 3.31 percent at 49.90 rupees), Ceylon Tobacco Company (up 1.13 percent at 1,830 rupees), Ceylon Cold Stores (up 0.80 percent at 126 rupees), and Namunukula Plantations (up 1.79 percent at 68.10 rupees).

LOLC Holdings (down 1.03 percent at 409.75 rupees), Hatton National Bank (down 0.61 percent at 409 rupees), Sunshine Holdings (down 3.81 percent at 30.30 rupees), and Sampath Bank (down 1.91 percent at 154 rupees) were top negative contributors.

Market turnover was 1.55 billion rupees. Capital goods led turnover with 459.57 million rupees. (Colombo/Nov13/2026)

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