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Monday November 9th, 2026

South Asian collective urges action on high levels of sexual violence in the region

ECONOMYNEXT – A coalition of civil society organisations comprising representatives from Bangladesh, India, the Maldives, Nepal, and Sri Lanka is are urging South Asian countries to take immediate action on high levels of sexual violence and low conviction rates.

The South Asian Movement for Accessing Justice (SAMAJ) is advocating for “comprehensive legal reforms to close protection gaps in sexual violence laws, address flaws in criminal justice systems, and invest in holistic support services for survivors.”

“These reforms are crucial to providing women and girls with better protection and ending widespread impunity for perpetrators,” SAMAJ said in a statement.

“Many sexual violence laws in the region suffer from inadequate legal definitions that fail to encompass the full spectrum of sexual violence. Some penal codes contain provisions that discriminate against women and girls, and poor enforcement of laws further contributes to abuses going unpunished.”

SAMAJ called for a multi-sectoral approach involving collaboration between government, civil society organisations, law enforcement agencies, healthcare providers, and education sectors.

Full statement:

Collective action is needed to tackle sexual violence in South Asia

Nepal, July 8, 2024: A new coalition of seventeen civil society organisations is urging South Asian countries to take immediate action on high levels of sexual violence and low conviction rates. South Asian Movement for Accessing Justice (SAMAJ) is advocating for comprehensive legal reforms to close protection gaps in sexual violence laws, address flaws in criminal justice systems, and invest in holistic support services for survivors. These reforms are crucial to providing women and girls with better protection and ending widespread impunity for perpetrators.
Many sexual violence laws in the region suffer from inadequate legal definitions that fail to encompass the full spectrum of sexual violence. Some penal codes contain provisions that discriminate against women and girls, and poor enforcement of laws further contributes to abuses going unpunished.

The formation of SAMAJ marks a significant advance tofwards rectifying serious weaknesses in legal frameworks, policies, and practices that prevent sexual violence survivors and victims’ families from accessing justice and support.
Comprised of human rights organisations and individuals working in Bangladesh, India, the Maldives, Nepal, and Sri Lanka, SAMAJ is calling for the adoption of a multi-sectoral approach involving close collaboration between government bodies, civil society organisations, law enforcement agencies, healthcare providers, and education sectors.
The development and effective implementation of sufficiently funded multifaceted strategies are needed to provide better immediate and longer-term assistance to survivors and for ongoing prevention efforts necessary to tackle the root causes and consequences of sexual violence.

Sexual violence survivors face many challenges
While some progress has been made in strengthening legal protections against sexual violence, survivors still encounter significant obstacles when filing cases with the police and pursuing prosecution. Problems include prolonged delays in criminal investigations and trials, onerous levels of proof required for litigating cases, courts permitting evidence about the sexual history of victims, and difficulties obtaining legal aid. These challenges are exacerbated by pervasive gender discrimination, victim-blaming, and social stigma associated with sexual violence.

Women and girls from marginalised communities, including Indigenous people, designated lower castes, and those with disabilities, are especially vulnerable. They experience severe intersectional forms of discrimination linked to their gender, class, caste, disability, and religion, which increases their exposure to human rights violations and curtails their ability to escape harm and receive justice.

At present, the journey through the criminal justice system is arduous for most survivors. A successful outcome is unlikely as conviction rates for sexual violence crimes are low throughout South Asia. The path for those from marginalised groups is all the more challenging.

Enabling perpetrators to avoid criminal liability raises the risk of assault for women and girls as impunity emboldens offenders who see they are unlikely to be held accountable by the state. The few cases that currently make it to court are generally for the most egregious crimes, such as when the victim has been killed or is a young girl.
Reforming sexual violence laws
SAMAJ emphasises the urgent need for stronger laws, gender-sensitive criminal justice systems, and support measures that prioritise survivor-led solutions, centring the experiences, needs, and insights of women and girls.

Unique challenges faced by marginalised groups must be acknowledged and addressed. Amplifying their voices is crucial for dismantling systemic barriers and creating inclusive pathways to justice for all, regardless of background.

To achieve the best possible outcomes in sexual violence cases, comprehensive legal and procedural reforms should be enacted to close gaps in protections, with national and state laws meeting international human rights standards.
Advocating for states to fully comply with global conventions and treaties that mandate the protection of human rights is a key priority for SAMAJ, with international mechanisms and treaty bodies utilised to increase accountability.

SAMAJ is championing a unified response to sexual violence in South Asia. Sabin Shrestha, Executive Director with Forum for Women, Law and Development (FWLD), in Nepal, explains, “We have always been together in our joint struggle for justice and equality. The creation of SAMAJ forms a common front against the endemic problem of sexual violence in the region.

“This partnership demonstrates how deeply rooted we are to the idea of safe communities and empowered victims. Our many voices will resonate louder and as one, reinforcing, pushing ourselves, and bringing about meaningful changes. Our working together is a symbol of optimism, resilience, and an assurance for a safer world ahead.”

Shyamala Gomez, Executive Director at the Centre for Equality and Justice, in Sri Lanka, expands, “Member organisations of SAMAJ are coming together with a common goal – to advocate at international and regional level for strengthened criminal justice processes in our respective countries so that victim-survivors of sexual violence get justice and accountability. We need to act as a pressure group on our governments to take concrete measures to make this a reality.”

Working regionally, Equality Now’s Nawmi Naz Chowdhury concludes, “Anchored in cross-country learnings, SAMAJ will foster, sustain, and grow a South Asia-focused, civil society-led regional movement. The coalition will use collective action in evidence gathering, research, and advocacy to address legal and structural barriers faced by sexual violence survivors in their pursuit of justice, and to bring an end to sexual violence.

“Connecting national-level advocacy with international human rights mechanisms, SAMAJ is a united regional voice and force that is determined to uphold the rights of women and girls to live a life free from sexual violence and to have equal protection under the law.” (Colombo/Jul8/2024)

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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