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Monday November 9th, 2026

UN special rapporteur on religious freedom: SL rejects “inaccurate assertions”

Sri Lanka rejected today what it called inaccurate assertions and inadequate assessments made by the UN Special Rapporteur on freedom of religion or belief.

A statement by the Government of Sri Lanka issued at an interactive dialogue of the 43rd UN Human Rights Council session in Geneva with Special Rapporteur (SR) Ahmed Shaheed yesterday noted with concern that limited time was made available to Sri Lanka to adequately respond to Shaheed’s report.

Shaheed was in Sri Lanka in August last year, four months after the Easter Sunday attacks. His advanced unedited report, compiled in the wake of this visit and shared with Sri Lanka on February 3 for comments, raised concerns on religious freedom in the island.

The deadline imposed on the government for feedback was last Friday (February 28).

“Within the limited time available, Sri Lanka wishes to provide some general observations on the SR’s report. We request that our full observations, which will follow, be published as part of the report,” Sri Lanka’s statement said.

In his report, Shaheed said that despite positive developments since 2015, tensions among ethnic and religious communities persist. Significant gaps exist, he said, particularly in upholding accountability and access to justice as well as ensuring non-recurrence of human rights violations.

The SR also referred to statements made by President Gotabaya Rajapkasa in the run-up to last year’s presidential polls that the UN official said had effectively rejected the pledges made by past governments with respect to post-war accountability and reconciliation.

In its response, Sri Lanka accused the SR of failing to contextualise his findings.

“Sri Lanka received the SR in August 2019, barely four months after the country had suffered a series of horrendous terrorist attacks by certain local groups inspired by ISIS which targeted innocent civilians at worship and at hotels on Easter Sunday, causing the death of 258, including 45 foreign holidaymakers,” the government said.

The Rajapaksa administration also spoke generously of the efforts made by the previous Yahapala administration in a time of crisis.

“The facilitation of the visit, at a time of numerous national challenges, was a manifestation of the government’s policy of open and constructive dialogue with UN human rights mechanisms,” it said.

“In the aftermath of the attacks, the government immediately took all possible measures to prevent any retributive acts of civil unrest, maintain law and order, and most importantly to ensure the safety and security of all people, particularly the Muslim community,” it added.

The statement went on to declare that the people of Sri Lanka have lived amicably despite racial and religious differences for centuries, and continue to do so.

“Having suffered the scourge of separatist terrorism for nearly three-decades, they had been enjoying their hard-won peace and freedom, and had embarked on the path of reconciliation and national healing over the last decade. However, the Easter Sunday attacks reminded us that we are fighting a common adversary in terrorism, radicalisation and extremism, which is a global threat,” it added, stopping short of identifying the said threat.

In this context, the government said, it is unfortunate that the SR’s report has, to a large extent, sought to judge the space for freedom of religion or belief in Sri Lanka through the few months that followed the Easter Sunday attacks.

“As may be recalled, the scale of these attacks brought about a national emergency in Sri Lanka which called for prompt action by the state to identify and neutralise terrorist elements in different parts of the country in the interest of safety and security of all communities, while maintaining the delicate balance between national security and human rights,” it said.

Sri Lanka also noted the “constructive and reconciliatory approaches and calls made by the civil and political leadership of the country” which helped contain the situation – developments that it said were widely acknowledged and appreciated.

“The Muslim community particularly took proactive measures to cooperate with the security agencies in their investigations and search operations. Suspects who were arrested were afforded their legal safeguards and independent institutions were provided access to monitor their situation,” said the statement.

Referring to incidents of mob violence that occurred three weeks after the terrorist attacks, Sri Lanka said the violence was caused by “unruly mobs” and was not communally motivated.

“These mobs were efficaciously neutralised by the government through a number of arrests and by bringing to justice alleged perpetrators. The country fast returned to normalcy, reassuring the safety and security of all Sri Lankans and visitors to the country,” it said.

“Through giving effect to relevant legal provisions and following necessary legal processes, order and rule of law has been firmly re-established. The security forces of Sri Lanka merit particular commendation for their prompt and professional action in this regard,” it added.

Therefore, Sri Lanka went on to say, the government rejects the inaccurate references in the SR’s report to “serious concerns” regarding “Sri Lankan security forces colluding with mobs and not acting to prevent or stop the violence”; the “lack of response from the authorities against this violence”; and the claims that “acts of violence are indulged by the silence and inaction from the authorities”.

“It is regrettable that these inaccurate accounts have been included in the report, even after they have been fully rebutted and explained by the government soon after the alleged incidents,” it said.

“It is also regrettable that the report has sought to portray instances where criminal investigations have been conducted to prevent acts of terrorism in accordance with the law, as an endeavor to violate the freedom of religion or belief,” it added.

With regard to references to restrictions on dress code, Sri Lanka noted that the regulation concerned was a temporary measure under emergency regulations aimed at “preventing concealing of identity, in view of the imminent security threat that existed at the time”.

Sri Lanka also categorically rejected what it called the inaccurate assertion in the SR’s report that the ICCPR Act has not been applied to protect minorities but has become a “repressive tool” curtailing freedom of religion or belief.

“In this regard, we wish to point out that since its enactment in 2007 to date, 90% of the suspects who were arrested under the ICCPR Act have been from the majority Sinhala community,” the government said.

Referring to comments made in the report about alleged discrimination based on “supremacy” of Buddhism over other religions, Sri Lanka noted that article 9 of the constitution requires the state to protect and foster the Buddha Sasana while assuring all religions the rights granted under the Constitution.

“No provision in Sri Lanka’s constitution or national laws permits discrimination of an individual based on religion or belief in any sphere of public life. On the contrary, article 12 of the constitution prohibits discrimination based on race, religion, language, caste, sex, political opinion, place of birth or any such grounds,” it added.

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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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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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