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Monday November 9th, 2026

France, Spain move toward reopening as global virus cases pass four million

AFP – People in France and Spain, two of the countries hardest hit by the coronavirus pandemic, were preparing Sunday for an easing of lockdown rules as the global number of infections surpassed four million.

In the US, the country with the world’s highest death toll, President Donald Trump faced sharp criticism from his predecessor Barack Obama who said on a leaked tape that Trump’s handling of the crisis was an “absolute chaotic disaster”.

The virus has claimed more than 78,000 lives in the United States, which has recorded more than 1.3 million infections, according to a tally by Johns Hopkins University.

Worldwide, the death toll has surged past 277,000 and the number of coronavirus cases surpassed four million on Saturday, according to an AFP tally.

Lockdowns and economic disruption, meanwhile, have pushed millions into unemployment in a historic global downturn.

Amid the barrage of deaths, some European countries cited signs of progress they said justified taking slow steps back toward some version of normality.

French officials on Saturday said the day’s death toll of 80 was the lowest since early April. Nursing home fatalities also fell sharply as France prepared to relax curbs on public movement imposed eight weeks ago.

The easing, to begin Monday, has brought mixed reactions.

“I’ve been scared to death” about the reopening, said Maya Flandin, a bookshop manager from Lyon. “It’s a big responsibility to have to protect my staff and my customers.”

French health officials warned that “the epidemic remains active and is evolving”, and a state of emergency was extended to July 10.

In Spain, about half the population will be allowed out on Monday for limited socialization, and restaurants will be able to offer some outdoor service as the country begins a phased transition set to last through June.

Fears lingered, however, of a viral resurgence if restrictions are lifted too quickly, and authorities excluded Madrid and Barcelona, two COVID-19 hotspots, from the first-phase easing.

“The virus has not gone away,” Prime Minister Pedro Sanchez warned.

Belgium is easing some restrictions on Monday, and in some parts of Germany bars and restaurants reopened on Saturday with further easing set for Monday.

One district in Germany’s western North Rhine-Westphalia state remained locked down, however, after an outbreak at a slaughterhouse.

Overall, the situation in Europe was still far from normal.

Britain is reportedly planning to announce on Sunday that all overseas visitors will face a mandatory two-week quarantine, and the European Union warned against opening borders to travellers from outside the bloc.

Across Europe, commemorations marking 75 years since Nazi Germany’s surrender were cancelled or scaled down.

In Russia, a soaring number of coronavirus infections forced Moscow on Saturday to pare back traditionally rousing World War II victory celebrations. President Vladimir Putin instead gave a solemn speech at a memorial outside the Kremlin walls, without mentioning the coronavirus.

Russia is now the fifth hardest-hit country, with nearly 200,000 confirmed infections and a rapidly rising caseload.

– ‘Phenomenal’ recovery? –

Global economic figures are pointing to the most acute downturn in nearly a century as the pandemic forced businesses to shutter and badly disrupted supply lines.

Trump, facing re-election in November, has insisted next year would be “phenomenal” for the US economy, urging reopening in a country where the coronavirus continues to claim well over 1,000 lives daily.

The United States alone lost an unprecedented 20.5 million jobs in April, driving the unemployment rate to 14.7 percent — the highest level since the Great Depression of the last century.

The numbers came as a leaked audio emerged in which former president Obama launched a scathing attack on Trump’s handling of the crisis.

In the recording, first obtained by Yahoo News, Obama urges former staffers to rally behind his former vice president, Joe Biden, who is preparing to take on Trump at the polls.

The US response to the crisis, Obama said, “would have been bad even with the best of governments. It has been an absolute chaotic disaster” under the current administration.

– ‘Fear in my heart’ –

In Pakistan, the world’s fifth most-populous country, the government ended the lockdown on Saturday and locals streamed into markets and shops, despite still-high infection rates.

“We are happy with this decision, but at the same time I have a fear in my heart that if this disease spreads it could be devastating,” said Tehmina Sattar, shopping with her sister and sons in Rawalpindi.

Meanwhile Brazil, the country hardest-hit by coronavirus in Latin America, passed the milestone of 10,000 deaths on Saturday. It has now recorded 10,627 deaths and 155,939 infections, the Ministry of Health said.

With its auto manufacturing industry idle and other economic indicators in the red, a government minister warned this week the country faced “economic collapse” if lockdowns continue.

Dire data from many countries has further dampened the already grim global outlook, with the International Monetary Fund (IMF) saying it had been too optimistic when it predicted the world economy would contract by three percent this year.

“Incoming economic data for many countries is below our already pessimistic assessment for 2020,” said IMF chief Kristalina Georgieva, whose organisation is fielding dozens of requests for emergency loans.

– US-China feud –

The virus has prompted widespread soul-searching. China, facing intense criticism over its handling of the crisis, was the latest to admit to an inadequate response.

“The novel coronavirus outbreak was a big test that revealed China still has shortcomings in its major epidemic prevention and control system (and) public health systems,” Li Bin, deputy director of the National Health Commission, said Saturday.

The Trump administration has repeatedly criticised China for being secretive when the virus first emerged in the city of Wuhan late last year.

The feud spread to the UN Security Council on Friday, where the US — reportedly out of frustration with China and the World Health Organization — prevented a vote on a resolution calling for a ceasefire in various conflicts to allow officials to focus on the pandemic.

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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