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Monday November 9th, 2026

Sri Lanka Coronavirus count rises driving new efforts to contain spread

CORONA CONTROLS: A worker sprays disinfectant to sanitize a public bus as a preventive measure against the COVID-19 coronavirus at a bus station in Colombo on March 16, 2020. Lakruwan WANNIARACHCHI / AFP

ECONOMYNEXT – Sri Lanka restricted flights from more countries, tightened quarantine as total confirmed cases of Coronavirus went up and the World Health Organization declared the island to be a country with community transmission, officials said.

Sri Lanka reported a total of 22 confirmed patients Monday, including a Chinese tourist who had been discharged.

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Among those confirmed over the weekend was the teenage daughter of a previously confirmed patient who became infected due to contact with foreigners.

“The World Health Organization has declared Sri Lanka to be a country with community transmission,” Director of Sri Lanka’s health service Anil Jasinghe told reporters Sunday.

Sri Lanka Sunday restricted travel from UK, Belgium and Norway asking carriers not to board anyone destined for the island who from or had been in the three countries.

Sri Lanka had already restricted boarding airlines from France, Spain, Germany, Switzerland, Denmark, Netherlands, Sweden and Austria.

Quarantine rules for the countries were also brought forward Sunday night.

“Due to the very rapid spread of the covid-19 virus a very high level decision has been made” to quarantine passengers earlier than previously informed, Sri Lanka’s Civil Aviation Authority said.

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Sri Lanka Coronavirus toll rises to 19, UK, Belgium Norway quarantine advanced

Similar restrictions are in place for Korea and Iran. Sri Lanka’s foreign missions in the countries said they were cutting down services.

A group of diplomats are also in self-quarantine after a relative of an officer was found to have the virus.

Sri Lanka’s immigration chief Sarath Rupasiri said visa approvals had been tightened and more countries would be added if necessary.

“Please ask your friends and relatives abroad to delay their arrival.”

Sri Lanka had already closed schools, universities, cinemas and zoological gardens. Jasinghe said expected mothers and child vaccinations should delay clinic visits unless they are 08 months pregnant or have a complication that needs a response.

“It is the practice of a mother to come with a family member and child, which leads to crowded conditions,” he said.

Jasinghe urged members of the public suspecting a Coronavirus infection not to go to a private hospital and risk more infections. He said the test used in Sri Lanka requires a certain ‘virus load’  to come up with positive results and it may have to be done multiple times.

Sri Lanka’s elections chief asked political parties not to hold large rallies for the upcoming election in April for which nominations are underway.

“Please do not bring supporters to the offices, and request them not to stay around the premises as well,” Deshapriya said in a statement.

South Asia Response

Sri Lanka’s President Gotabaya Rajapaksa in an online conference with South Asian leaders had called for a common regional response.

“Our biggest challenge is to stop or minimize the virus entering into Sri Lanka and control the spreading of the virus within Sri Lanka,” President Gotabaya Rajapaksa was quoted as saying in a statement from his office.

“For this purpose, we have banned tourists and other people from about 12 countries, especially some EU countries, entering into Sri Lanka, following the guidelines and statistics relating to the spread of the virus, issued by the WHO.

The biggest source of infections was Sri Lankans returning from infected countries.

“We have a large number of Sri Lankans working in Italy and South Korea,” President Rajapaksa was quoted as saying.

“We cannot stop these Sri Lankans coming back to their home country.”

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Economic Hit

Sri Lanka’s economy has been hit by the crisis, with tourism taking the brunt. Stocks plunged last week as fears of the bigger fallout from the crises loomed ahead.

Sri Lanka has also made a large liquidity injection with central bank credit raising fears over the currency as the country runs a pegged exchange rate, though private credit is expected to fall.

Sri Lanka declared Monday a holiday and a gazette notice said there could be further holidays if necessary which would further dampen economic activity.

Public Administration Minister Janaka Bandara Tennakoon in a Gazette notification on Sunday said the special public and bank holiday was aimed at supporting the quarantine efforts underway.

“This holiday will be extending (sic) if necessary,” he said.

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Sri Lanka wholesale and retail, external trade will operate Monday

Information Minister Bandula Gunawardana said the holiday did not apply to external trade or domestic retail and wholesale trade.

“There is the export industry and a lot of goods have also been imported for the New Year season,” Minister Gunawardana said.

“The Pettah wholesale trade and retail shops will also operate.

“Goods will continue to be supplied.”

Sri Lanka’s supermarkets have seen panic buying.

Gunawardana said Sri Lanka had ample stocks of foods and prices would come down further on Wednesday.

Quarantine

Sri Lanka brought forward quarantine rules from UK, Norway and Belgium, telling airlines that passengers disembarking in Colombo would quarantined earlier than previous informed.

“Due to the very rapid spread of the covid-19 virus a very high level decision has been made” to quarantine passengers earlier than previously informed, Sri Lanka’s Civil Aviation Authority said.

“Accordingly steps will be taken to quarantine passengers arriving from the United Kingdom, Belgium and Norway with effect from 0000hrs on 16th March 2020 till 2359hrs on 16th March 2020.”

Sri Lanka is also chasing down returnees from countries like Italy who arrived in the country before quarantine began.

Sri Lanka’s military intelligence is helping police track them down Army chief Shavendra Silva said.

Silva said over 1700 persons are in quarantine centres run by the military mostly from Italy.

Some returnees had at first refused to go to quarantine centres before they even saw them, but Silva said the army was providing them with facilities as required by health authorities while military medics were monitoring them multiple times a day, with some being monitored more.

Many of the 18 persons in hospital came from the quarantine centres.

Global Response

Across the world economic activity is also falling as countries go into lockdown and international and domestic travel is restricted.

The Fed has cut rates and other central banks with floating exchange rates have opened liquidity taps.

Economic activities in many countries have fallen.

The UK has stayed back from strict controls on public life. Sri Lanka banned entry to anyone from UK Sunday.

The response had drawn criticism from some quarters.

The National Health Service is asking Britons with Coronavirus to stay at home and self-isolate for 7 days.

READ: UK NHS Stay at home advice for Coronavirus patients

The NHS is asking people to with suspected Coronavirus to drink plenty of water, sleep alone ‘if possible’ and stay away from older people with health complications.

They and told not to go outside and to request delivery people to leave items outside the door.

Those with symptom are asked not to call hospital unless symptoms persist beyond 7 days.

Hospital care is reserved for people with complications. In many countries including China and Italy, hospital services were overwhelmed.

The NHS said UK had been planning for similar flu outbreak for a decade.

“As it is a new virus, the lack of immunity in the population (and the absence as yet of an effective vaccine) means that COVID-19 has the potential to spread extensively,” the NHS said philosophically a policy document document.

“The current data seem to show that we are all susceptible to catching this disease, and thus it is also more likely than not that the UK will be significantly affected.”

Coronavirus action plan: a guide to what you can expect across the UK)

READ: Coronavirus action plan: a guide to what you can expect across the UK

However UK’s strategy has earned criticism from the World Health Organization and other nations.

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(Colombo/Mar16/2020)

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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