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Monday November 9th, 2026

IshiniGate: Instagram star breaks her silence says cyberattacks “are overwhelming”

Social Media Influencer Ishini Weerasinghe breaks her silence

ECONOMYNEXT-A Canadian Social Media influencer who raised tens of thousands of dollars for victims of the Easter Sunday attacks is saying she is working with gofundme.com to identify a fresh charity in Sri Lanka to assist those in need after the blasts.

Ishini Weerasinghe, 21, a model and Instagram star, started a gofundme.com page to collect money for the victims of the attacks on the day of the blast and raised CAD82, 882 (Approximately LKR11,520, 600) in a short time.

Weerasinghe, who has an Instagram following of 173,000 people at last count, came under attack on Social Media by some users who called her a fraud saying that none of the money she collected has reached the numerous victims and their families 17-months after the blasts.

The social media hashtag #IshiniGate has been trending on Social Media since then.

Her accusers speculated that she had spent the money on plastic surgery for breast enhancement and a new car.

In a statement released yesterday, Weerasinghe said that that she had had surgery to “correct a deformity” in 2018 and also purchased her vehicle the same year many months before her gofundme.com drive.

Among the accusations was that she had paid for a new house, a charge she denies as she lives with her parents in the house which they had built and have lived in for the past 11 years in South Edmonton, in Alberta.

In an interview with EconomyNext, Weerasinghe who is of Sri Lankan origin says she does not want to be “directly involved in the charity work but we are looking for someone competent to do so.”

Gofundme.com in a letter to Weerasinghe commiserated with her about the attacks on Social Media and gave her two options saying they could return the money to the donors but recommended that she work with the website to find a suitable charity in Sri Lanka to work with.

Of the total cash collected Weerasinghe chose to transfer a sum of CAD 20,000 in June 2019 to the Alpha Trust in Sri Lanka which organizes and conducts social work and projects around the country.

The remaining cash, amounting to CAD68, 882 she told EconomyNext, “is in a separate bank account in Canada.”

Alpha Trust is the charity arm of the Foursquare Gospel Church, at which her parents worship in Edmonton.

However, for various reasons Alpha Trust could not aid victims, Weerasinghe and the Trust said.

Alpha Trust in a statement released on Facebook said: “in order to adhere to the request of Ms Weerasinghe, members of the Alpha Trust team embarked on the mission of communicating with the church in Batticaloa and other people on the ground, to ascertain the needs of those directly affected by the bombing.”

“However, after extensive interviews and fact-finding, they reported back to Ms Weerasinghe that all victims who needed immediate, short term and long-term medical care were categorized and were being taken care of by Government organisations, relevant affected churches, International NGOs and Blue-chip companies who also came to the immediate assistance of the victim,” it said.

Hence, Alpha Trust requested to return the funds to her as per their policy of only utilizing funds strictly for the specific purpose it was sent for by the donor.

Subsequently, in November 2019 Weerasinghe had informed Alpha Trust of a planned visit by her and her family to Sri Lanka for a family wedding and instructed the Alpha Trust to return the funds directly to her as she had directly made contact with some victims who needed urgent medical assistance and would like to work directly with them.

“On arrival, Ms Weerasinghe requested Alpha Trust to return the funds within 36 hours and the Alpha Trust trustees agreed to relax their strict policy method and process of returning the funds and made it available to her at short notice,” the statement said.

So Alpha Trust has refunded an amount of Rs 2,585,091.43 after deducting the taxes and their travelling expenses the statement said.

EconomyNext has verified that Weerasinghe has provided assistance to three recipients in the Negombo area through a local church group. However getting the records of how around LKR1.5mn was spent has “been pushed back by Covid,” she says

“The receipts are there. The survivors know that they were told to keep their medical receipts from the moment we started working with them for documentation purposes. The earliest person we have employed said he can meet with them and gather all the receipts and deliver it to me is by the end of this month,” she said.

EconomyNext spoke to the person who is tracking down the recipients. He spoke on condition of anonymity and said that there are at least three people he has contacted who have received help for medical treatment and another to whom payments have been made for the construction of a house.

He said that one woman has been given LKR50,000 for surgery due to hearing loss, another family which lost their mother was given LKR50,000 for school supplies and money has been set aside for furniture.

Another girl who has a serious skin condition from shards of glass was given LKR100,000 for the course of injections and mother was given money for physiotherapy as she is unable to walk due to injuries.

An orphaned girl has been pledged LKR1,000,000 to finish building her family house.

“We will be continuing to help the victims on our own account and social welfare efforts further onwards. The cyberbullying, harassment and threats from the community recently from creating false accusations about the work that I have done with no proof, has become overwhelming for me and my family,” she said.

(Colombo/Oct02/2020)

With additional reporting by Arjuna Ranawana

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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