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Monday November 9th, 2026

“Your ‘Sri Lankanness’ will not be reduced to one aspect of your identity.”

ECONOMYNEXT – On March 8, International Women’s Day the Friedrich Nauman Foundation for Freedom invited ten selected women to say what they would do if they were to lead this country.

We publish below the poem read out by Author and activist Sarah Kabir in which she described what she would do.

What Would You Do If You Were Given The Chance To Lead This Country?”
By Sarah Kabir

Many of us don’t have the luxury to seriously consider this topic because, in Sri Lanka, the reality is someone like me could never and will never be THE leader of this country. Why? Because I am identified as a second-class citizen in Sri Lanka. I am a woman, and I am a Muslim. I am labelled as a ‘minority’. So, not even as a child, nor as an adult, could I even dream this dream of one day being able to lead this country. And sadly, I have a feeling, I’m not the only one.

However, if I was President this is how I would lead.

IF I WAS PRESIDENT

If I was President,
The first thing that I would do
Is to change the status quo.
So it matters not where you pray, whom you love,
what you wear, or what you own.
A Sri Lanka, where every citizen can dare to dream the dream,
That one day! he or she, might be able to lead.

If I was President,
Your ‘Sri Lankannes’ will not be reduced to one aspect of your identity.
You can wear a pottu or a headscarf,
As a Sri Lankan you I will treat.
For diverse we are; in language, skin tone, gender, sexuality,
In the clothes we wear, how we pray, the food we eat,
In thought, in faith and beliefs.
And in this diversity comes an unparalleled unity,
Bound, ‘if’ the promise, to respect each other, we keep.

———–

An apathetic citizen, other leaders might adore,
I will change to an engaged one, that is what I will implore.

One who makes it their aim to prioritise love over hate,
Truth over pseudo-nationalism,
Empathy over Apathy.
Then maybe, just maybe,
There can be a space that is safe and free,
For all Sri Lankan citizen’s to be.

———–

If I was President, my country wouldn’t need a slogan to uphold the law,
The scales of the justice system – would work without flaw.
And every religion, every practice, and every culture, I will respect,
So long! as it doesn’t force or take away from another, at your behest.

See… for me, I think of Sri Lanka as a polsambol
70% of coconut that fills up the bowl,
And 30% of flavour and colour,
That reminds you of ‘home’.
———–

If I was President,
I’d break the cycle where nationalism is used as a tool to divide,
Where it’s ingrained in citizens, who then push leaders to inscribe.
Nationalism, will be a thing we ALL own;
A pride we wear and, with it, a past we must know.

The past, under the rug I would not sweep,
But address every injustice that made a mother weep.
Acknowledging these stains is not to bring mother-Lanka shame,
But to say, we are big enough as a nation, and true to our words when we say, ‘never again!’

Where you have been discriminated, I will not deny,
As denial aims to encourage another conflict we cannot survive.
What led you to believe a weapon is all you had to wield,
I will rectify and heal, so my country will not bleed.

If I was President, I would respect the dead.
I wouldn’t destroy cemeteries where you lay them to rest.
I would allow you to mourn, to light a candle in their name,
So we remember as a nation, the cost of war that was in vain.

I’d push for an understanding and an acceptance of our past
As that is the only way, a positive peace would last.
———–

If I was President, your freedom of speech I would not infringe,
For there is much I could learn from what rages within.
But I will remind you, that this freedom is not an end in itself,
But a means to protect the rights and lives of all – even those who are not your friends.
Sadly, I know there will always be racists and misogynists,
But a platform to amplify their views I will not facilitate.

And in this space,
Independence Day would be one all Sri Lankan’s can celebrate with pride,
Where it matters not what language in which you recite –
The National anthem – would be sung with a sense of belonging,
Where the words ring true to your heart and have meaning.

———–

If I was President,
My pride, I would put aside,
And acknowledge my limitations.
That being President doesn’t give me a PhD or a Major,
In economics, in law, in health, trade or diplomacy,
So, if I was President… I’d be open to learning!
And those accomplished I will find,
To consult,
With always the country’s best interest in sight.

I wouldn’t make my decisions based on a second term,
I wouldn’t centralise, but my power I would devolve.
My committees would not be just for optics, or friends,
They would represent all
And to make this country better, a hand they would lend.

———–
Of all the controversial things I might have said,
There’s one in particular today I feel, surprisingly, scared to address.
A problem, that for centuries has divides us all,
Where ‘class’ has allowed a few to gain, and the rest left to fall.

This, today, remains unchanged,
As many of us privileged prefer class divisions to remain.
We enjoy our high-flying jobs, and our rich threads,
We enjoy our food cooked, plates cleaned, and our cosy beds.
So, threatened we are, by the thought of another,
Being able to climb up that ladder.

For this, If I was President,
Schools – urban or rural – well-trained teachers I will provide.
Education or language, will not be a thing that divides.
The tools you need I will work hard, so you can access,
As equal opportunity is the key ingredient for a nation’s success.

The homeless, would not be swept off the street,
But given shelter, a roof – under which to sleep.

I wouldn’t press my foot,
Down on your throat,
Suppressing your breath,
Instead, I’d bend the knee.
Because it is you that I serve,
It is you, that allows me to lead.

———–

If I was President,
I would not fight the truth that we live in a globalised world,
Interconnected we are, as covid-19 has shown.
Geographical boundaries? are just lines on a map,
As the butterfly who flaps her wings in Sinharaja – might be felt all the way up on the alps.

If I was President,
The environment I will restore,
And be aware of the seeds we sow,
Nothing stands alone, in today’s world that we know,
Not the past, not the present, nor the future we hold.

We are all interconnected by a single thread that weaves through,
And so, there must be unison for Sri Lanka to be more.
For her heart to beat with joy,
For our hearts to swell with pride,
To be proud of our nation! of where we came alive.

———–

Now of course, you must be thinking, ‘all of this is easier said than done,’
And the race to become President, is not mine to be won.

But in this space of being a citizen, I refuse apathy!
Even if I can’t be President, I will – and I can – still lead,
To build a nation of unity, one that celebrates diversity,
A Sri Lanka where every little girl (or boy) … could not just dream,
but wake up! and say,
I am going to be President one day.


(Colombo, March 11, 2021) Edited by Arjuna Ranawana

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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