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Monday November 9th, 2026

Iran fires missiles at US troop bases in Iraq

AFP – Iran fired missiles Wednesday at Iraqi bases housing the US military, officials in Washington and Tehran said, in the first act of the Islamic republic’s promised revenge for the US killing of a top Iranian general.

The Pentagon said it was still “working on initial battle damage assessments” after “Iran launched more than a dozen ballistic missiles against US military and coalition forces in Iraq.”

“It is clear that these missiles were launched from Iran and targeted at least two Iraqi military bases hosting US military and coalition personnel” at Ain al-Asad and Arbil, the Pentagon said.

There were no immediate reports on casualties. The Pentagon said the facilities had been on “high alert” after days of steadily mounting tension and exchanges of threats of war.

Trump, who visited al-Asad with First Lady Melania Trump in December 2018, his first trip to US troops deployed in a war zone, said initial casualty assessments indicated “all is well.”

He tweeted that “assessment of casualties & damages taking place now. So far, so good!”

Iranian state television reported an attack on one base housing US personnel, saying it was in response to Friday’s killing in a US drone strike of Iranian general Qasem Soleimani, one of the most important figures in the country’s government.

Also killed was a top Iraqi commander Abu Mahdi al-Muhandis, who was with Soleimani just outside Baghdad international airport when the US drone overhead opened fire.

The Iranian Revolutionary Guards announced that the Ain al-Asad base was hit with dozens of missiles, warning a US counter-attack would be met with an even “more crushing response” and threatening to strike Israel and America’s “allied governments.”

“We advise the American people to recall US troops (deployed in the) region in order to avoid further losses and not to allow the lives of its soldiers to be further threatened by the ever-growing hatred of the regime,” the IGRC said in a statement.

But Iran’s Foreign Minister Mohammad Javad Zarif seemed to indicate that the missile strikes were over for now.

“Iran took and concluded proportionate measures in self-defence” targeting a base from which a “cowardly armed attack against our citizens and senior officials” was launched, he said on Twitter.

– Major escalation –

The brazenness of the strike was highly unusual for Iran, which has tended to disguise attacks on US interests or troops through the use of proxy Shiite forces. This time, conventional, rather than guerrilla-style weapons were used and responsibility was rapidly claimed.

“It is a major escalation. Ballistic missiles openly launched from Iran onto American targets is a new phase,” said Phillip Smyth, an expert on Shiite militias.

Trump did not go on evening television to address the nation — something of an informal presidential tradition in times of foreign policy crises. But he said to expect a statement early Wednesday.

Oil prices immediately jumped on the news, with the benchmark WTI spiking more than 4.5 percent to $65.54 a barrel before receding slightly.

In the US, the aviation regulator banned civil flights over Iraq, Iran and the Gulf, citing the potential for “misidentification” of aircraft.

The slide into open confrontation followed days of sabre rattling between Washington and Tehran, coupled with growing confusion over the future of US troops in Iraq, where many are outraged at the drone strike.

At Soleimani’s funeral in Iran on Tuesday, top Revolutionary Guards commander Major General Hossein Salami vowed “revenge.”

Earlier, Trump warned that “if Iran does anything that they shouldn’t be doing, they’re going to be suffering the consequences and very strongly.”

He called Soleimani — for years the mastermind of Iran’s regional network of official and covert military and anti-US alliances — “a monster.”

Trump, however, did walk back earlier threats to bomb Iranian cultural sites in the event of conflict — something that could be a war crime.

At Soleimani’s funeral in the Iranian city of Kerman, tragedy was added to the geopolitical tensions, when 56 people died and 213 were injured in a stampede as the vast crowd of mourners got out of control, local media reported.

Iran’s Fars news agency reported that the commander was interred on Tuesday night.

– Foreign troops waver –

Hours before Iran struck, Trump tried to end confusion over his plans for the approximately US 5,200 troops in Iraq, saying they should stay despite calls by the Iraqi parliament for their expulsion.

“At some point we want to get out, but this isn’t the right point,” Trump told reporters at the White House.

Despite Washington’s assurances, several allies started to leave, raising questions over the future of a US-led mission to help the Iraqis fight the jihadist Islamic State group.

Canada announced that some of its estimated 500 troops will withdraw to Kuwait and NATO said it also was temporarily “repositioning” some personnel to locations inside and outside Iraq.

Several other countries, including Germany and Romania, announced plans to move forces. France and Italy said they had no intention of withdrawing troops from Iraq.

– Mysterious letter –

On Sunday the Iraqi parliament voted in favor of expelling US troops in response to Soleimani’s killing.

Then on Monday, a letter emerged from the head of Task Force-Iraq, US Brigadier General William Seely, that appeared to announce just such an exit.

Back in Washington, US officials scrambled to deny the idea, calling the letter a mistakenly released draft or, as Trump suggested, a fake.

“I don’t know anything about that letter,” Trump told reporters. “I understand it was an unsigned letter. I don’t know if that letter was a hoax, or was it unsigned or what.”

Iraq’s prime minister, however, insisted Tuesday that the letter had been taken seriously.

“It’s not a piece of paper that fell off the printer or reached us by coincidence,” Abdel Mahdi told a televised cabinet meeting.

Trump said Tuesday he favored eventual withdrawal from Iraq but that under the wrong conditions it would mean a strategic gift to Iran.

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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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