Connect with us

Business

Advancing the agriculture industry with agri entrepreneurship opportunities

Published

on

Sri Lanka boasts a rich agricultural history and a self-sufficient economy based on agriculture. For centuries, our ancestors depended on sustainable agriculture practices while agriculture remained one of the most important sectors of the economy.

In a country where the majority fared well in agriculture in the past, the population depending on agriculture at present has dropped to around 28% accounting for only 7% contribution to the GDP. These numbers reflect the recent decline in the agriculture industry and demands the need for a quick turnaround in its capacity to develop the country’s economy.

One major concern related to agriculture industry is the dearth in agriculture exports which can be addressed by motivating the farmers to produce value added agriculture exports while discouraging agriculture imports. “The value of agriculture exports as of today is around 20% of total exports which needs to be increased by initiating measures to increase local production and value-added products from crop yields. At present, the average harvest yielded from a paddy hectare is around 4 tonnes which could be maximized to around 9 to 10 Tons with a well-planned mechanism and the right investments. Sri Lanka is enriched with ample resources which are viable for agriculture such as a suitable climate, fertile soil and resources, hence it is a matter of initiating a proper mechanism which creates entrepreneurship opportunities and develop the industry to a level where it can thrive in both global and domestic markets” stated Priyanga Dematawa, Chief Operating Officer of DIMO Agribusinesses.

In this background, it is vital to promote agri entrepreneurship and encourage Sri Lankans, especially the youth, to engage in agri businesses. In promoting agri entrepreneurship, a collective effort is required from all sectors including both the government and private sector stakeholders to ensure that new technology and resources are available and knowledge about new farming techniques is shared among the farmers across the country. Streamlining agriculture through new technologies helps in improving productivity and reducing cost of production which will encourage more people to turn towards agriculture as a business, leaving behind the shadows of the ‘white collar job’ concept. The role of the private sector in developing the agriculture industry is vital with its potential to strengthen the supply and value chains, promote value additions, help in commercial and large-scale production and use new and existing resources to innovate new farming techniques.

“When talking about the role of the private sector, DIMO as a socially responsible corporate, has come to the fore in developing the agriculture industry with their agriculture arm DIMO Agribusinesses, having understood the importance of the agriculture industry for the development of the country’s economy. DIMO Agribusinesses is committed to supporting the industry in multiple ways and is in the process of bringing the latest agri technologies to Sri Lanka, sharing knowledge about sustainable agriculture practices among local farmers, introducing new crop care solutions, seeds, fertilizers, greenhouse farming and micro irrigation systems. DIMO’s Agri Techno parks engage in agriculture research and development, seed production, farmer education and training initiatives to support the growth of the industry.” he added.



Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Stealer malware leaked over 2 million bank cards

Published

on

The number of infections with data-stealing malware, 2020-2024 (Source: Kaspersky Digital Footprint Intelligence)

Kaspersky Digital Footprint Intelligence estimates that 2.3 million bank cards were leaked on the dark web, based on an analysis of data-stealing malware log files from 2023-2024. On average, every 14th infostealer infection results in stolen credit card information, with nearly 26 million devices compromised by infostealers, including more than 9 million in 2024 alone. Kaspersky released its report on the infostealer threat landscape while the technology world gathers at MWC 2025 in Barcelona.

Kaspersky experts estimate that approximately 2,300,000 bank cards have been leaked on the dark web. This conclusion is based on an analysis of the log files from data-stealing malware, dated 2023-2024, that were leaked on the dark web market. While globally the share of leaked cards is well below one percent, 95% of the observed numbers appear technically valid.

Infostealer malware is not only designed to extract financial information, but also credentials, cookies and other valuable user data, which is compiled into log files and then distributed within the dark web underground community. An infostealer can infect a device if a victim unknowingly downloads and runs a malicious file, for example one disguised as legitimate software, such as a game cheat. It can be spread through phishing links, compromised websites, malicious attachments in emails or messengers and various other methods. It targets both personal and corporate devices.

On average, every 14th infostealer infection results in stolen credit card information. Kaspersky Digital Footprint Intelligence experts found that nearly 26 million devices running Windows were infected with various types of infostealers in the past two years.

“The actual number of infected devices is even higher. Cybercriminals often leak stolen data in the form of log files months or even years after the initial infection, and compromised credentials and other information continue to surface on the dark web over time. Therefore, the more time passes, the more infections from previous years we observe. We forecast the total number of devices infected with infostealer malware in 2024 to be between 20 million and 25 million, while for 2023, the estimate ranges between 18 million and 22 million,” says Sergey Shcherbel, expert at Kaspersky Digital Footprint Intelligence.

In 2024, Redline remained the most widespread infostealer, accounting for 34% of the total number of infections.

The most significant surge in 2024 was in infections caused by Risepro, whose share of total infections increased from 1.4% in 2023 to almost 23% in 2024. “RisePro is a growing threat. It was first discovered two years ago but seems to be gaining momentum. The stealer primarily targets banking card details, passwords and cryptocurrency wallet data, and may be spreading under the guise of key generators, cracks for various software and game mods,” explains Sergey Shcherbel. Another rapidly growing stealer is Stealc, which first appeared in 2023 and increased its share from nearly 3% to 13%.

Continue Reading

Business

ComBank’s 2023 Annual Report tops Banking sector at ACCA Sustainability Reporting Awards

Published

on

Commercial Bank Chief Operating Officer S. Prabagar and members of the senior management accepting one of the ACCA awards.

The Commercial Bank of Ceylon’s prowess in comprehensive disclosure of sustainability-related information to stakeholders has won its 2023 Annual Report two top awards at the 2025 Sustainability Reporting Awards presented by the Association of Chartered Certified Accountants (ACCA).

The Bank was adjudged the overall runner-up and the winner in the Banking category at these awards, repeating the achievement of its 2022 Annual Report which was similarly honoured by the ACCA last year.

The ACCA Sustainability Reporting Awards recognise Annual Reports that clearly acknowledge and explain the economic, environmental and social impacts of the business to internal and external stakeholders, demonstrating the organisation’s policies, targets and long-term objectives towards the goal of sustainable development.

Commercial Bank’s 2023 Annual Report also won two Golds, a Silver and a Bronze at CA Sri Lanka’s ‘TAGS’ Awards 2024, excelling in the key aspects recognised by the awards programme which is dedicated to Transparency, Accountability, Governance, and Sustainability – TAGS.

The Bank won the Gold for ‘Corporate Governance Disclosure’ in the Financial Services sector, the Gold for the Best Annual Report among the private sector banks, the Silver for ‘Digitally Transformative Reporting’ across all sectors, and the overall Bronze award for Excellence in Corporate Reporting.

Continue Reading

Business

UTE Delivers Sri Lanka’s Largest Cat D8 Tractor to NEM Construction

Published

on

(From left to right) Deepthi Hewageegana (CEO - UTE), Mani Rajan (Director Distribution - India), Joe Moscato (Vice President - Distribution - Japan & Asia South (India & SE Asia) Caterpillar Inc), Raja Nanayakkara (Chairman / MD - NEM Construction), Prasan Fernando (Chairman - UTE), Priath Fernando - (Director - UTE), Duminda Perera (Senior General Manager - Operations)

Caterpillar equipment dealer UTE has delivered the country’s largest Cat D8 Track-Type Tractor to NEM Construction Pvt. Ltd., marking a significant milestone in heavy machinery. This delivery strengthens the long-standing partnership between UTE and NEM Construction, which spans over 45 years. The Cat D8 is expected to boost operational efficiency in large-scale projects. As the sole authorized dealer for Caterpillar in Sri Lanka, UTE continues to provide top-tier machinery and after-sales support. The handover is particularly notable as Caterpillar celebrates its 100th anniversary. NEM Construction’s Chairman, Raja Nanayakkara, praised the Cat D8’s superior performance and UTE’s unmatched service and parts support, which have been key to the company’s long-term collaboration. This purchase highlights the continued trust in both Caterpillar and UTE’s expertise in supporting Sri Lanka’s construction industry.

Continue Reading

Trending