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Monday November 9th, 2026

Opinion: It is time to rethink how we are dealing with Covid

SOPHISTICATED SURVEILLANCE – Army Chief Lt Gen Shavendra Silva tries out an Army drone now deployed to catch curfew violaters.

ECONOMYNEXT – As the second wave of the Covid 19 pandemic continues to engulf the country, and the public is increasingly showing its frustration and panic, it is time the country rethinks its strategy to combat the spread of the disease.

Since the Minuwangoda cluster exploded on us that first weekend of October, the total number of confirmed cases has increased from 3,733 to 16,583. The number of deaths from Covid 19 too has gone up from 13 to 58 since.

The district of Colombo has recorded 5,127 of those cases since October with Gampaha coming a close second with 4,917, according to the National Operations Centre for the Prevention of Covid 19 (NOCPOC). What’s more, the numbers of newly identified positive cases are increasing by 400 and 500 daily. Yesterday, November 15, that number was 704.

The number of positive cases identified yesterday, came from 30 districts and three prisons, again with Colombo reporting the highest number.

No doubt there is fear and deep concern. A social media post that sick people were found dead of Covid 19 along roadsides across the country went viral very quickly. That story was found to be fake, with police locating the person who created it and arresting him. They are now believed to be searching for those who shared the post.

But the fake post fed into the fear spreading in the country over a seemingly uncontrollable pandemic.

Clearly, public frustration is building. Two days ago the residents of an inner-city apartment block in Henamulla in the Modera Police area in Colombo staged a noisy protest complaining that while they had to remain in isolation, the authorities had failed to provide them with their basic supplies.

Opposition Member of Parliament for Colombo Mujibur Rahman told EconomyNext that the protestors were locked in and had no way of going out to earn any money or get supplies. Eventually, he said the local authorities had arrived at the place with an LKR 5,000 handout.

Even though the government has promised to continue with the subsidies the problem seems to be becoming bigger. The government said yesterday November 15 that 12.7 million families have received the LKR 5,000 handout between March 13 and November 13.

Epicentre of infections – people at the Peliyagoda Fishmarket being tested for Covid 19

“We beat Covid”

When this government went into the Parliamentary elections in August this year, it was under the “we beat Covid” (කොවිඩ් ජයගත් ) banner, claiming it had beaten the contagion that had brought greater and more powerful nations to their knees.

As the Parliamentary election campaign began in earnest, our leaders Trumpishly participated in various ceremonies and did walkabouts among the crowds without wearing the masks or observing social distancing that the Health authorities have mandated.

Election campaign offices of the Sri Lanka Podujana Peramuna trumpeted the victory over Covid as another indication of effective government.

Naturally, the false impression that Covid had been eradicated from Sri Lanka meant that the public ignored the safety measures put in; many went about without masks or observing social distance and hand hygiene.

Supermarkets and other institutions which had previously zealously enforced these measures became lax.

Within months of the elections in the midst of the second wave, we are now arresting and charging people for doing what our leaders did in public during the campaign.

So, did the Health Authorities relax too? Were the tender procedures to import the Antigen test kits hurried through, because the authorities too believed Covid was past us? Is that why, they were not prepared for this second wave, which is proving to be brutal?

Muslims protest cremation/trtworld

Demonizing the victims

As usual, the victims of the virus are being put through more trauma, by demonizing them. It happened in the first wave and is happening again.

Naturally, many who suspect they may have caught the virus, want to hide the fact, making it more difficult to trace, isolate and treat them and their close contacts.

And in this, the government, first responders and both mainstream and social media have proved extremely insensitive in handling the situation.

During the first wave whenever someone tested positive for Covid, we saw Public Health Inspectors turning up at their homes to escort them to quarantine centres, oftentimes accompanied by local Television Correspondents.

The evening newscasts, particularly private stations that openly support the government, lingered on these images of families being taken away to quarantine in buses further stigmatizing the victims.

When social media took to sharing names and other personal information of those believed to have been exposed to the virus, there was hardly a crackdown on the perpetrators.

Because the public has become scared of the consequences for themselves and family members if they become Covid positive, they are hiding.

Nobody goes out and willfully contracts a contagion, Covid patients need our love and support; and the government, which proudly claimed victory over the first wave, seems to have forgotten that fact now!

Some like the Muslims fear that if they succumb to the virus, they would be denied a burial as required by the dictates of their faith.

Anecdotally we have learned that many are fearful of reporting feeling sick and some are opting to remain home and forgo treatment.

Of the 45 deaths officially reported by the Director-General of Health Services, since the onset of the Minuwangoda outbreak, 40pct – or 18 individuals – were reported to have passed away at home were dead on admission. Most were elderly, and are believed to have had underlying health issues. Yet, that is a high number.

And it is possible that they and their families suspecting that they were Covid positive decided to care for them at home, rather than pack them off to hospital with family having no access to them.

It is certainly time then, that the leadership of this country re-thinks their messaging of the COVID-19 pandemic.

ON GUARD – Troops man roadblock at the entrance to Colombo before 3-day curfew is imposed

Not a zero-sum game

The response so far from the authorities to the new outbreak has been to be more of the same as before – lockdowns and surveillance by increasingly more sophisticated methods, the latest being the use of drones to identify those who violate the curfew or isolation instructions.

Such methods, surveillance by drone and helicopter, are militaristic and authoritarian, prompting Liberal commentators such as Sanjana Hattotuwa, to label them Orwellian.

Rethinking our actions to deal with Covid must come with the realization that we can’t beat this microscopic but dreadful monster so easily.

We cannot destroy it like a human enemy, the tiny beast is going to live within us and around us for a long time and the best we can do is to manage it.

There are no winners and losers as the leaders of this country wanted the public to believe, pre-election period.

It is not a zero-sum game.

Therefore in decision-making, we need to shift gears to a managing mode, and while monitoring and creating cordon sanitaire in areas which are at risk may be necessary, more creative ways of dealing with the pandemic should be introduced.

Patients and their families must be treated in a gentler manner. They are not criminals!

The official support system must be designed to ensure children, seniors and other sick persons are not abandoned when caregivers fall prey to the virus.

Let’s leave out the politics; daily wage and low-income earners must receive their basic needs and their concerns addressed in a methodical manner.

Even though the government has received millions for the Covid fund, this time around too, it has been left to charitable groups and religious organisation and others who have come together informally to provide these people with their basic needs. And it is to friends and family that these groups appeal for financial help to continue their work.

Last, but most importantly we have to look after the “least of our brothers” the marginalized and the vulnerable.

They are the factory workers, the drug addicts, the sex-workers, street-cleaners, and single-headed households etc. that are the most vulnerable.

The Navy cluster was blamed on drug addicts in the Seeduwa area whom sailors had been assigned to capture and taken to quarantine. The Kandakadu cluster is said to have originated from drug addicts who were in rehabilitation. The first to be reported from the Brandix/Divulapitiya outbreak were women working in the high-pressure sweatshops of the Free Trade Zone, even though health authorities are yet to locate the original source.

In times of trouble we Sri Lankans seek solace in religion. And instead of blaming the public, or dropping pots of ‘blessed” water into rivers to ward off evil, we would do better to look at how our primary religious leaders acted and spoke when faced with illnesses.

“He who attends on the sick attends on me,” declared the Buddha, exhorting his disciples on the importance of ministering to the sick. In stories about the Buddha’s life, we are told of how he bathed and treated Monks who were sick with dysentery and others whose bodies were suppurating with sores.

“Whatever you do for the least of my brothers that you do unto me,” preached Jesus Christ.

Words and actions we should follow when treating our sick and frightened people, so we overcome this pandemic together.

(Colombo, November 15, 2020)

By Arjuna Ranawana

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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