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Monday November 9th, 2026

Global virus cases top a million as Spain, Britain see record deaths

VIRUS TOLL: The site of a temporary mortuary being built in the UK as virus toll rises.

AFP – Confirmed coronavirus cases around the world topped one million on Thursday and the number of deaths soared past 50,000 as Europe reeled from the pandemic and the United States reported record numbers of people out of work.

Despite more than half the planet imposing some form of lockdown, the virus claimed thousands more lives, with Spain and Britain seeing the highest number of daily fatalities yet.

And it continued to wreak havoc on the global economy, with the US announcing a record 6.65 million workers filed for unemployment benefits last week and Spain reporting its biggest monthly increase in jobless claims ever.

The pandemic caused further disruption to the US election calendar as the Democratic Party announced it was postponing its convention to choose a November opponent for President Donald Trump to August 17.

The decision came after the likely nominee, former vice president Joe Biden, said the convention, originally scheduled for July 13-16 in Milwaukee, Wisconsin, would probably need to be delayed.

Also in the US, a virus-stricken cruise ship, the Zaandam, which has dozens of ill passengers and crew on board, was finally allowed to dock in Florida after being stranded at sea for weeks.

Since emerging in China in December, COVID-19 has infected at least 1,000,036 people — including more than half a million in Europe — and claimed 51,718 lives, according to a tally by AFP from official sources.

There have been 236,339 infections and 5,648 deaths reported in the United States, where COVID-19 is currently spreading the most rapidly.

Italy, the hardest-hit country in terms of deaths, has 115,242 reported cases, 13,915 of them fatal, while Spain reported 110,238 cases and 10,003 fatalities.

The number of actual infections is believed to be higher since many countries are only testing severe cases or patients requiring hospitalization.

The crisis has put enormous strain on national health care systems and medical staff working in the most difficult of circumstances.

“Every morning before I start work, I make the sign of the cross, and pray that everything will go all right,” Ester Piccinini, a 27-year-old nurse at the Humanitas Gavazzeni hospital in Bergamo, northern Italy, told AFP. “I hope everything will be all right for my patients.”

– ‘Slowdown’ in Spain –

Europe has been at the center of the crisis for weeks, but there have been signs the epidemic could be approaching its peak.

Spain and Britain saw record numbers of new deaths in the past 24 hours — 950 and 569 respectively.

France recorded 471 hospital deaths, down from the previous day, but also announced a new figure of 884 deaths in old people’s homes since the epidemic began.

Italy registered 760 new deaths, with its numbers continuing to fall.

The number of confirmed Spanish cases passed the 110,000 mark, the government said, although the rate of new infections continued a downward trend.

“The data show the curve has stabilized” and the epidemic has entered a “slowdown” phase, Health Minister Salvador Illa said.

The virus has chiefly affected the elderly and those with pre-existing medical conditions, but recent cases have highlighted it can kill people of all ages.

In Britain, Prime Minister Boris Johnson vowed to “massively increase testing” as his health minister said the aim was 100,000 tests a day within weeks.

Johnson, who contracted the virus, was speaking from self-isolation following criticism of his government’s failure to provide widespread screening, particularly for frontline healthcare workers.

In Russia, President Vladimir Putin extended paid non-working days until the end of April as the number of confirmed cases jumped by more than a quarter on Thursday to 3,548 with 30 deaths.

Most of the Russian population is on lockdown, with Moscow in particular facing tough isolation rules.

– 100,000 body bags –

Thailand became the latest country to impose strict lockdown measures with the introduction of a curfew from Friday, pushing the number of people in confinement to 3.9 billion, or half the world’s population.

Around 85 percent of Americans are under some form of stay-at-home order, but there have been warnings of a staggering US death toll, even with mitigation efforts in force.

On Thursday, the US disaster response agency FEMA asked the American military for 100,000 body bags.

The virus and the measures taken to contain it have raised fears of the worst global economic downturn since the Great Depression of the 1930s.

The US Labor Department said the 6.65 million workers who filed for unemployment benefits last week was double the number the previous week, and the most ever recorded.

Economists warned US job losses could surge to a previously unimaginable 10 to 20 million in April.

Financial ratings agency Fitch on Thursday predicted that the US and eurozone economies would contract this quarter by up to 30 percent on an annualized basis, as struggling businesses slash investment and widespread unemployment dampens consumer spending.

World leaders have announced huge financial aid packages to deal with the crisis and the World Bank on Thursday approved a plan to roll out $160 billion in emergency aid over 15 months.

On the sports front, the British government said English Premier League footballers should take a pay cut, amid outrage at top-flight clubs using a furlough scheme for non-playing staff.

Health Secretary Matt Hancock said everyone needed to play a part in the fight against coronavirus. “That means Premier League footballers too,” he said.

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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