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Monday November 9th, 2026

Human Rights Watch calls for withdrawal of Sri Lanka’s new anti-terror bill

ECONOMYNEXT – The government of Sri Lanka’s proposed Anti-Terrorism Act would empower the authorities to systematically violate fundamental human rights, Human Rights Watch (HRW) said calling for its withdrawal a day after reports that its tabling in parliament would be delayed.

In a statement issued on Friday April 07, days after it expressed scepticism of Sri Lanka’s latest programme with the International Monetary Fund, the international human rights watchdog said the government should withdraw the bill and ensure through consultations that any counterterrorism legislation upholds international human rights standards.

Related:

Human Rights Watch sceptical of Sri Lanka IMF deal, warns of rights erosion

“The government pledged to adopt an improved law following domestic and international criticism of abuses under existing counterterrorism legislation. But instead of addressing the problems, the bill would expand the definition of terrorism to include crimes such as property damage, theft, or robbery, and restrict the rights to freedom of assembly and speech,” the organisation said.

Sri Lanka’s proposed new counter-terror law has drawn criticism from various quarters including opposition parties and civil society. Human rights activists both local and international have repeatedly called for the repeal of the island nation’s existing Prevention of Terrorism Act (PTA), which critics have called draconian. Successive governments have been accused of using the PTA to stifle dissent, and some activists have expressed fear that the new bill would be no different, though the new bill’s backers contend that it is an improvement.

“The proposed counterterrorism law would permit the Sri Lankan government to continue to use draconian measures to silence peaceful critics and target minorities,” HRW South Asia Director Meenakshi Ganguly was quoted as saying in Friday’s statement.

“The government’s crackdown on dissent and misuse of existing counterterrorism laws to arbitrarily detain protesters highlights the obvious risk of abuse.”

The Anti-Terrorism Bill, which was published on March 22, 2023, is intended to replace the “notorious” PTA, HRW said in its statement, which led to “widespread torture and arbitrary detentions since its introduction in 1979”.

While the new bill contains some improvements, it includes provisions that will facilitate abuse. The bill appears designed to give the president, police, and military broad powers to detain people without evidence, to make vaguely defined forms of speech a criminal offense, and to arbitrarily ban gatherings and organisations without meaningful judicial oversight, HRW said.

In response to criticism from Sri Lankan activists and lawyers, the United Nations Human Rights Council, foreign governments, and the European Union, successive Sri Lankan governments have repeatedly promised to repeal and replace the PTA with rights-respecting legislation.

 

“The Anti-Terrorism Bill is largely based on proposals presented in 2018, when Sri Lanka’s current president, Ranil Wickremesinghe, was prime minister. The 2018 bill was criticised over human rights concerns and was not enacted. Justice Minister Wijeyadasa Rajapakshe recently expressed satisfaction with the new draft and told journalists that ‘we won’t make any major change to the current version’,” the HRW statement said.

Minister Rajapakshe was quoted in the media as saying on Thursday April 06 that following a discussion with civil society groups and trade unions, a decision was made to delay the tabling of the bill in parliament to “consider proposals and suggestions received.”

In its statement, HRW noted that in 2021, the UN independent expert on human rights and counterterrorism set out five “necessary perquisites” to ensure that Sri Lanka’s counterterrorism law complies with international rights standards. They include providing an appropriate definition of terrorism, ensuring precision and legal certainty, provisions to prevent arbitrary detention, measures that adhere to the absolute prohibition on torture, and due process and fair trial guarantees including judicial oversight. The Anti-Terrorism Bill does not fully meet any of these standards, the organisation claimed.

According to HRW, the new bill’s definition of terrorism is vague and overbroad and can include peaceful protest or acts that, while criminal, do not rise to the level of any reasonable definition of terrorism. Offenses include participation in certain “unlawful” assemblies if the aim is to “intimidate” the public or “wrongfully” compel the government to act in a certain way, as well as “theft” or “robbery” of government or private property, even if these acts are not intended to cause death or serious harm, it said.

“The government is currently facing strikes, including by public sector workers. In 2022, the authorities used counterterrorism powers to arbitrarily detain three student leaders after widespread protests over corruption and misgovernance forced both the president and prime minister to resign.

“While under the PTA, the authorities can detain a suspect for up to a year on orders signed by the defense minister, the proposed bill gives the authority to issue detention orders to deputy inspector generals of police, increasing risk of abuse. The police could take a detainee from pretrial detention back into police custody, and the defense secretary could transfer a detainee to the custody of ‘any authority.’ This puts suspects at greater risk of torture and other ill-treatment, as abuses under the current law demonstrate,” HRW said.

Noting that the proposed bill grants police and military sweeping powers to stop, question, search, and arrest anyone, or seize any document or object without a warrant, if they believe they have “reasonable grounds”, HRW said the military, which is not trained in law enforcement, would have 24 hours to transfer a detainee to police custody, placing detainees at greater risk of abuse.

It also provides the president power to issue regulations for “rehabilitation” programmes if the attorney general has decided to defer or suspend prosecution. The attorney general could then “impose” “voluntary” rehabilitation on a person who has not been convicted of any crime. In 2021, HRW said, the Supreme Court stayed similar regulations.

“The authorities have long committed human rights violations against people accused of terrorism or of drug use, who are incarcerated without trial in government ‘rehabilitation’ programmes.

“The president, on the advice of the police or military, would be authorised to declare any location a ‘prohibited place,’ with up to three years in prison for violations. This appears to be an attempt to prevent a repetition of the largely peaceful 2022 protests in the capital, Colombo. The government had declared ‘high security zones’ under the Official Secrets Act, which were withdrawn following widespread condemnation.

The bill expands broad powers to criminalise speech that is “likely to be understood” as encouragement or inducement to commit or prepare for terrorism, with the burden of proof on the defendant to show that was not their intention, the HRW statement claimed. These offenses also apply to those who publish, distribute, sell, or transmit “terrorist publications,” which could have a further chilling effect. In the past, the organisation said, the government has used the PTA to detain people who commemorated Tamil victims of Sri Lanka’s civil war on social media on the grounds that they were “glorifying” terrorism, which is also an offense under these proposals.

“The president would be authorised to ban an organization if authorities have ‘reasonable grounds’ to believe it is acting in a manner ‘prejudicial to the national security of Sri Lanka, or any other country.’ In the past, the government has proscribed Tamil diaspora organisations advocating for human rights and accountability as ‘terrorist organisations,’ and human rights organisations have faced government interference in their banking and finances on the pretext of countering ‘terrorist financing’,” the statement said.

The bill provides for the death penalty for the terrorism offense of murder, although Sri Lanka has observed a moratorium on executions since 1976. Sri Lanka should abolish the death penalty, which Human Rights Watch opposes in all circumstances because of its inherent cruelty and finality, it said.

“The bill includes some new due process protections, including that confessions to the police will not be admitted as evidence, and that female suspects should be searched by women officers. There are new procedures for reporting and notifying the reason for an arrest, providing access to translations of documents in a language a detainee understands, and presenting a detained person before a magistrate every 14 days. It also clarifies the procedures that a magistrate should follow if a detainee appears to have been tortured.

“However, the two ostensibly independent entities proposed under the bill, the Board of Review to hear appeals against detention orders, and the Independent Review Panel to advise on rights-respecting implementation of the law, would not be independent by law”

Until new counterterrorism legislation that upholds human rights is drafted, the government should impose a full moratorium on the use of the PTA and take steps to repeal it, the international human rights defender said.

Successive Sri Lankan governments have offered repeated assurances to the EU that they would uphold rights commitments, including by repealing the PTA, in exchange for tariff-free trade access under the Generalised Scheme of Preferences Plus (GSP+). The trade access is conditioned to the ratification and effective implementation of key human rights treaties. In its latest monitoring report, the European Commission said that Sri Lanka “still has to deliver on a number of important reforms.”

“Sri Lanka’s international partners, including the United States, EU, Japan, India, and others should press for genuine reforms to ensure this bill meets Sri Lanka’s international human rights obligations, Human Rights Watch said. The EU should make it clear that replacing the present counterterrorism law with similarly abusive legislation does not address its concerns and could affect Sri Lanka’s GSP+ status,” the HRW statement said.

“The Anti-Terrorism Bill needs to be seen both in light of Sri Lanka’s abusive history of counterterrorism powers and the current government’s repression of peaceful dissent,” Ganguly was quoted as saying. “Sri Lanka’s international partners should make it absolutely clear that they will not reward this abuse with trade preferences and other support,” she said. (Colombo/Apr07/2023)

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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