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Monday November 9th, 2026

Europe, New York start emerging from lockdown as fresh cases hit China, Korea

AFP – Swathes of Europe as well as New York began the long process of reopening from coronavirus lockdowns on Monday, but a resurgence of infections in China and South Korea offered a sobering reminder of the dangers of a second wave of cases.

The mixed fortunes illustrate the high-wire act governments face across the globe as they try to resuscitate shattered economies while keeping in check a pandemic that has now killed some 284,000 people and infected more than 4.1 million.

For the second straight day, the United States recorded fewer than 900 days over the past 24 hours although the toll shot past 80,000, by far the highest in the world, according to Johns Hopkins University.

New York, the worst-hit US state, gave the green light to return gradually this week to normal life — but not yet in packed New York City, which will wait at least until June.

“We start a new chapter today,” Governor Andrew Cuomo told reporters, adding, “It’s an exciting new phase; we’re all anxious to get back to work.”

As France and Spain embraced new freedoms and Britain also announced plans for a partial reopening, the Chinese city of Wuhan where the pandemic was born reported a second day of new cases after a month without a sign of the virus.

And South Korea announced its highest number of infections for more than a month driven by a cluster in a Seoul nightlife district.

With millions out of work and economies badly bruised, governments are desperate to hit the accelerator, but most are choosing a gradual approach as fears about a resurgence of the virus loom large.

In parts of Europe, officials have been emboldened by promising trends, with Spain’s daily fatalities falling to 123 and Italy — once Europe’s epicenter — reporting fewer than 1,000 patients in intensive care, the lowest since March 10 before the peak of its outbreak.

France has seen its daily fatalities decline for several days but reported an uptick on Monday with 263, as it began to dismantle a military field hospital set up when hospitals were being inundated.

– ‘Keep your distance’ –

The French were able to venture outdoors without filling in a permit for the first time in nearly eight weeks on Monday, and some shops reopened their doors.

The wide boulevards of the Champs-Elysees in Paris were once again back to life with cars and shoppers waiting patiently to make purchases, but things were not as before.

Police swarmed in to break up picnickers who defied guidelines to gather together without masks.

Many Spaniards revelled in being able to visit outdoor terraces and cafes again after months under one of the world’s toughest lockdowns, although virus hotspots such as Madrid and Barcelona remain under wraps.

“I really missed this, now you value these little pleasures,” said Jesus Vazquez, a 51-year-old builder, as he enjoyed a sandwich and beer in the sunshine outside a bar in the city of Tarragona.

Shopping strips were once again populated in Greece, while in other parts of Europe from the Netherlands to Switzerland and Croatia youngsters headed back to the classroom after weeks at home.

In the Czech Republic some teens revelled in being able to go to the cinema again — a novel outing after months of lockdown.

“We wanted to see what it’s like just to go and see a film with my friends again,” 16-year-old Tomas Fohler said from behind a mask, now compulsory in the country.

Germany too has set in motion the reopening of shops, eateries, schools and gyms, but Chancellor Angela Merkel refreshed warnings to stay safe after official data showed the infection rate picking up speed again.

“It is necessary that we can have confidence that people are actually sticking to the basic guidelines, so keeping distance, covering mouth and nose, being considerate of each other,” she said Monday.

In Britain, the government unveiled a “cautious roadmap” setting out new freedoms which included outdoor exercise and allowing construction, manufacturing and other manual workers back on the job.

Almost seven weeks after a nationwide stay-at-home order was put in place, more than 31,800 people have died in Britain — a figure second only to the United States.

Russian President Vladimir Putin also said that stay-at-home orders will be eased for most workers this week, despite a surge of 10,000 new coronavirus cases every day.

US President Donald Trump, facing re-election in November, has been especially eager to end restrictions — and insisted the White House was safe, even as he said he would limit contact with Vice President Mike Pence, whose press secretary tested positive.

“Everybody coming into the president’s office gets tested, and I’ve felt no vulnerability whatsoever,” Trump said in a testy news conference that he abruptly ended.

– Second wave fears –

With governments across the world trying to avoid a second wave, Asian nations that were among the first engulfed by the virus but have since brought it to heel are being keenly watched.

Much of China has begun to get back to a form of normality, and on Monday Shanghai Disneyland threw open its gates following a three-month shutdown.

“We are very much looking forward to the first day of reopening,” said one eager visitor named Kitty.

“We have stayed at home for around two months and got bored enough.”

But enthusiasm in China was tempered by news on Sunday that one person had tested positive for the virus in Wuhan. There were five more cases on Monday.

Local health officials said the new infections were all from the same residential compound and were mostly older people.

South Korean officials ordered nightclubs and bars closed after a new cluster of at least 86 cases linked to an entertainment district in the capital — many in gay clubs.

Officials scrambled to trace thousands of people who visited the area, but efforts were hampered with many believed to be reluctant to come forward because of the stigma surrounding homosexuality.

“If you hesitate a single day, our daily clock may stop for a month. Please contact the nearest clinic or health center right now,” urged Prime Minister Chung Sye-kyun.

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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