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Monday November 9th, 2026

Sri Lanka has made progress on child rights since UN convention but work remains: UNICEF

ECONOMYNEXT – Sri Lanka has made notable progress in immunisation, access to primary education, child mortality and access to safe drinking water since signing the United Nations Convention on the Rights of the Child (CRC) but more work remains to be done, a UN official said.

Speaking at a ceremony celebrating the 34th anniversary of the CRC in Colombo on Monday November 20 UNICEF Representative for Sri Lanka Christian Skoog said that, since ratifying the convention, Sri Lanka been able to maintain universal immunisation, achieve near-universal access to primary education at 99 percent, reduce and maintain low rates of children dying before their  fifth birthday at 11 per 1000 live births, and sustain over 88.5 percent access to safe drinking water.

“These are just a few of several remarkable achievements the country has made in protecting children, including through the years of conflict, then tsunami, COVID-19 and most recently, the economic crisis,” said Skoog.

However, more work needs to be done in a number of areas, the official said.

According to a recent Child Multidimensional Poverty in Sri Lanka survey, he said, 42.2 percent of children under five years are deprived or live in a household deprived of two or more basic rights related to health, education, adequate living standards, or early childhood development.

As per the national assessment conducted by the Ministry of Education in 2021-2022, said Skoog, only 14 percent of Grade 3 students reached all essential learning competencies in literacy. In numeracy, it was 15 percent. Yet these competencies form the foundation on which children build their knowledge and different skills for the future, he said.

Across Sri Lanka, the UNICEF representative said, there are over 10,000 children in institutional care and detention living in conditions that fall far short of what they need to develop to their full potential. Over 90 percent of these children have a family to go to and with the right support could return home.

Children aged 16-17 are still judged as adults by the law and detained for long periods of time, he added.

According to Skoog, violence against children continues to stalk children at home, at school and in the community. Given the economic hardships, there is a risk that cases of abuse will increase and at the same time, services will struggle to respond, he said.

“A major tool for a country to address glaring gaps in child rights is the resources it allocates. However, Education and Health budgets remain far below international benchmarks and clearly insufficient to sustain and accelerate progress,” he said.

“According to estimates, in 2023, Sri Lanka invests 7.2 percent of total government expenditure (international benchmark is 15 to 20 percent) towards education, equivalent to 1.3 percent of GDP (international benchmark is 4 to 6 percent).”

On health, said Skoog, the government allocates an estimated 7.3 percent of its total government expenditure in 2023, or 1.4 percent of GDP (international benchmark is 5 percent to achieve Universal Health Coverage).

“The writings are on the wall. Action, at speed, is required especially that threats confronting children continue to emerge at an alarming rate, including environmental disasters,” said SKoog.

A UNICEF statement said it calls for the following:

  • Prioritisation and increased spending on social sectors to avoid further deterioration of the situation of children, help them overcome the consequences of recent shocks, and put them on a viable path to grow and develop to their full potential.
  • Sri Lanka needs to spend smartly and investments in the youngest children yield the highest returns. Evidence on child development and efficiency in public expenditures show the importance of the earliest years of children, with the first 1,000 days in a child’s life providing an unprecedented opportunity to support physical and cognitive growth. Child benefits are an evidence-based and scalable policy that prevents poverty and supports child health, nutrition and education outcomes. They can be progressively implemented, starting from programmes such as the pregnancy voucher for pregnant and lactating women.
  • The country needs to take urgent steps to strengthen Foundational Learning now as a core base of human capital development for its future socio-economic development. Evidence shows that as little as $10 to $15 can provide a child with remedial education and strengthen education systems to help ensure every child learns the critical foundational skills.
  • The Ministry of Education has developed a strategy (2023 – 2025) for implementing a comprehensive learning recovery programme for primary education in Sri Lanka and all nine provinces have developed costed action plans. While these are encouraging steps, it is important these plans are adequately resourced, including funding and implemented effectively.
  • Tackle all forms of violence against children, through the following:
    – Implement the Alternative Care Policy. UNICEF urges the operationalization of the alternative care policy, which outlines a comprehensive range of alternative care options – primarily finding family solutions for all children and encourages reforming all formal structures that provide services for affected children.
    – Take urgent steps to ban and criminalize corporal punishment in all settings. It is not acceptable, not beneficial for anyone, that although its use and harmful effects are known, in Sri Lanka, corporal punishment remains lawful—for parents and teachers to be physically and emotionally violent towards children in the name of discipline and correction.
  • Finally, child rights must continue to be above every interest, including political. Child rights can only be achieved if every citizen upholds them and takes decisions and actions based on the best interest of the child.

“Sri Lanka has demonstrated its ability to be a champion for child rights. It now has a choice. Inaction is not one of them,” said Skoog.

The United Nations Convention on the Rights of the Child (CRC) was adopted in 1989 as a promise to every child to protect and fulfil his/her rights, the UNICEF statement said.

The Convention recognises that childhood or being under 18 is a special moment in life for physical growth, play, learning and mental development, said UNICEF, adding that the Convention is the most widely ratified human rights treaty in history and has over the years helped transform children’s rights around the world.

Sri Lanka was among the first countries to sign the Convention in 1990 and ratified it in 1991, committing to implement it and be held accountable, it said. (Colombo/Nov22/2023

 

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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