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Monday November 9th, 2026

UN Report urges global justice, sanctions for Sri Lanka’s disappeared victims

ECONOMYNEXT – A new report from the Office of the United Nations High Commissioner for Human Rights (OHCHR) has recommended targeted sanctions on officials responsible for disappearances in Sri Lanka since 1970 and has called for justice outside the country for the families of victims.

Released last week, just before the 15th anniversary of the war’s end and four months ahead of the next UN human rights session where Sri Lanka is likely to face a new resolution, the report has sparked significant attention from rights groups.

The report, titled “Accountability for Enforced Disappearances in Sri Lanka,” urged justice for all Sri Lankan ethnic groups, including Sinhalese and Muslims, during the war and other insurrections, rather than focusing solely on ethnic minority Tamils as in the past.

Sri Lanka ended a 26-year civil war in 2009 with the state military defeating the Liberation Tigers of Tamil Eelam (LTTE), who fought for an independent state in the island nation’s North and East. The civil war was rooted in 35 years of discrimination against ethnic minority Tamils by the majority Sinhalese.

Tamil families have been waiting for justice and accountability from successive governments since 2009 to find their relatives disappeared during the final weeks of the conflict, amid failures from global rights bodies, including the UN.

On Saturday (May 18), the island nation witnessed two commemorations: Victory Day, mostly in the southern part of the country, and Remembrance Day for the Tamils in Sri Lanka’s North.

London-based rights group Amnesty International has estimated the number of disappeared victims in Sri Lanka between 60,000 and 100,000, although the Sri Lankan government has repeatedly disputed these figures. There is no credible numbers recorded by the government.

“Impunity remains entrenched,” the OHCHR said in its report, expressing dissatisfaction with the Sri Lankan government’s measures over the last 15 years.

“Notwithstanding steps such as the criminalization of enforced disappearances and the establishment of the Office of Missing Persons (OMP) and the Office for Reparations, these have not translated into concrete results that would satisfy victims’ rights to truth, justice, reparations, and guarantees of non-recurrence.”

UN investigations have found credible evidence of crimes under international law and other violations of international human rights and humanitarian law committed by both sides of the conflict.

The government has strongly and repeatedly rejected such allegations, and there has been little to no independent or impartial national inquiry into these serious crimes.

The OHCHR said the latest report was prepared with “a series of consultations with victims exploring the impacts of enforced disappearances in Sri Lanka and their perspectives on accountability.”

It held bilateral interviews with 39 victims and convened focus groups involving 43 victims, with a higher ratio of women to compile the report.

TARGETED SANCTIONS

A limited number of Western nations have already imposed targeted sanctions, including travel bans for some Sri Lankan political and military leaders, after finding credible information about human rights violations, the OHCHR said.

The United States has imposed a travel ban on former Army Chief Shavendra Silva and his immediate family members, Navy intelligence officer Chandana Prasad Hettiarachchi, Army Staff Sergeant Sunil Ratnayake, army officer Prabath Bulathwatta, and former Navy chief Wasantha Karannagoda, citing human rights violations, the report said.

Canada last year imposed financial sanctions to freeze the assets of former Sri Lankan presidents Mahinda Rajapaksa and Gotabaya Rajapaksa, along with Chandana Prasad Hettiarachchi and Sunil Ratnayake, citing rights abuses.

Human rights analysts say some Sri Lankan political and military leaders are still unaware that they have been blacklisted by Western nations for rights abuses and will only become aware of such measures when they request visas from these countries.

“Consider further targeted sanctions, consistent with international law, against those who are credibly alleged to have been responsible for enforced disappearances and other gross violations and abuses of international human rights law or serious violations of international humanitarian law,” the OHCHR said.

The Rajapaksas and military leaders have denied any wrongdoing, though successive governments have rejected an independent international investigation into alleged human rights violations, citing infringement on the country’s sovereignty.

Alan Keenan, London-based International Crisis Group’s Sri Lanka Senior Analyst, said the latest report broadens the time horizon to include the disappearances of Sinhala youth during the insurrections led by Marxist group Janatha Vimukthi Peramuna (JVP) as well.

“It’s an issue that all Sri Lankans have been affected by, which goes to the core of the legal system and the failure of multiple governments, basically every government since the 1970s, to deal with,” Keenan told EconomyNext.

“So I think this report is important in that it reminds everybody in the international community and in Sri Lanka of the depth of the problem that Sri Lanka faces in terms of its lack of effective institutions of the rule of law and the many decades of impunity for the most serious violations of international human rights law and, during the war, international humanitarian law.”

“What’s also positive is that the range of recommendations in the report potentially benefits all communities—Tamils, Sinhalese, Muslims, men, and women, rich and poor.”

He noted that human rights issues are often presented by the government in the media as being anti-Sri Lankan and anti-Sinhala majority, favoring only Tamils, Muslims, Christians, or other minority groups.

“This report shows that acting on accountability, holding people accountable, setting up new institutions to make that possible, bringing out the truth, and reforming and strengthening the institutions of justice and the rule of law is everybody’s issue. It should benefit all communities. That’s what’s most interesting and important about this report.”

INTERNATIONAL JURISDICTION

The OHCHR has urged the international community to engage with Sri Lanka due to an “accountability gap at the domestic level,” with victims urging prosecution in a third State due to “widespread impunity in Sri Lanka.”

Citing examples of some Non-Governmental Organizations (NGOs) filing legal actions against former Sri Lankan military leaders in Brazil, Australia, Germany, and Switzerland, the OHCHR noted that no state has yet issued an arrest warrant or prosecuted any Sri Lankans suspected of involvement in an enforced disappearance.

“A key stumbling block has been the immunities afforded to persons who remain in high office or have subsequently been appointed to diplomatic posts,” it said.

“Use all potential forms of jurisdiction, including under accepted principles of extraterritorial and universal jurisdiction, to investigate and prosecute crimes under international law committed in Sri Lanka, strengthen coordination in relation to ongoing investigations, and consider support for other avenues of international justice.”

International Crisis Group’s Keenan explained that cases targeting alleged perpetrators in Sri Lanka could also be pursued in other countries.

Amnesty International’s Secretary General Agnès Callamard, who witnessed the Remembrance Day by the Tamils in the final battlefield of Mullivaikkal, said the Sri Lankan government is best placed to provide answers to the victims, though past “domestic mechanisms to establish accountability in the last 15 years have been mere window dressing.”

“UNWARRANTED, PREPOSTEROUS” REPORT

Sri Lanka’s Foreign Ministry dismissed the UN report, stating that no member country had given a mandate to the OHCHR to compile such a report at a time when Sri Lanka was commemorating the 15th anniversary of the war’s end.

“This is unwarranted,” a Foreign Ministry spokesman told EconomyNext.

“The timing of the release is politically motivated and seems to be targeting the 15th anniversary of the end of the war. The content is unsubstantiated, not credible, and unfounded. It has just interviewed a few victims and targeted our senior officials and military personnel.”

He accused the United Nations Human Rights body of deliberately targeting a small country like Sri Lanka to “draw attention away from human rights violations elsewhere in the world.”

“It has asked to probe disappearances from 1970–2009. This is almost 40 years, covering a substantial period of post-independent Sri Lanka. This is totally preposterous.”

Sri Lanka will respond to the UN Human Rights High Commissioner on the content of the report through its Geneva envoy, he said.

Sri Lanka has admitted to some human rights violations but has strongly rejected any foreign probes into the allegations. Despite the island nation’s protest, the UN rights body has passed two resolutions to conduct an independent investigation with its own officials. (Colombo/May 21/2024)

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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