Business
Reopening schools in the New Normal: Key focus areas for Sri Lanka

The decision to gradually reopen Sri Lankan schools – which have been shut for close to 20 months since COVID-19 first struck – is a welcome move. As of September 2021, 93% of countries had reopened schools either completely or partially, making Sri Lanka one of the last to do so. Previous IPS blogs have pointed to multiple access and quality issues facing the country’s distance education efforts, calling for the establishment of a comprehensive education recovery strategy for the future. The accompanying decision to devote the next six months from November 2021-April 2022 to recovering learning losses, giving precedence to essential syllabus areas and decision-making flexibility to schools, is encouraging news, in this context. This blog provides some insights into the current education recovery practices being adopted globally and draws attention to some important areas that can be incorporated into the current strategies being devised in Sri Lanka.
Monitoring and Preventing School Dropouts
According to a joint UNESCO-UNICEF-World Bank Survey of 143 countries conducted between February – June 2021, only half, and less than a third, of developed and developing countries, respectively, reported that all primary and secondary students returned to schools when reopened. Common methods used to identify and prevent dropouts include school-based tracking mechanisms, financial incentives (cash, food, or transport), waived fees, community engagement programmes, and revised access policies. Brazil’s School Active Search system, for example, brings together local government agencies in education, health, social assistance and planning, to identify, register, and monitor out-of-school children and those at risk of dropping out.
Measuring Learning Losses
Measuring learning loss is an essential first step in mitigating its consequences. According to the joint survey, 58% of countries reported having conducted formative assessments to measure learning loss, while only one-third relied on standardised assessments. Existing research also points to the relative importance of formative assessments to estimate learning losses, as opposed to standardised testing which is more effective in the long-term. Formative assessments are geared towards informing in-process teaching and learning modifications, and include tools such as quizzes, journal entries, essays, and works of art. The focus is largely on remediation interventions and/or re-teaching content from the previous year, foundational skills, and adapting instruction to the level of each student.
Adjusting and Prioritising Curricula
To help students catch up once they return to school, 42% of countries surveyed reported prioritisation of certain areas of the curriculum or certain skills. The most likely areas or skills to be targetted include foundational skills in numeracy, literacy, and socio-emotional resilience. In terms of specific country examples, in Odisha State, India, the Central Board of Secondary Education has reduced the syllabi by 30%, to allow students to focus on a few subjects and learn these well. Bangladesh’s education recovery programme includes a condensed syllabus for the next two years, focussing on important subjects such as mathematics, Bengali, English, and science.
High-Stake Examinations
According to the joint survey, countries introduced several changes to exams, such as adjusting content, changing the number of subjects examined or questions asked, and mode of administration. Cancellation of examinations were limited to high- and upper-middle income countries, ranging from a share of 30% in primary grades to 18% in upper secondary education.
Immediate Focus Areas for Sri Lanka
Although somewhat late, it is encouraging to note that some of these worldwide practices are currently being considered in Sri Lanka too. Along with more concrete details and clearer strategies for implementation, Sri Lanka’s education authorities should focus on the following to minimise further learning loss and safeguard student welfare:
Ensure all children return to school
While boasting commendable enrolment rates at the primary and lower secondary levels, student dropouts at higher education levels is a longstanding problem in Sri Lanka. Post-pandemic dropout rates are likely to be considerably higher, particularly in remote and marginalised areas. It is thus essential that immediate data collection and monitoring is undertaken to initiate action and bring back all students to schools. The country’s well-established decentralised education administration system can facilitate coordination among zonal and divisional education authorities and Grama Niladhari divisions to collect data and work closely with parents and communities, in this regard.
Provide general guidance on curricula adjustments and measuring learning losses, while maintaining flexibility
The intention to focus on revised curricula targets over the next few months and to provide principals and teachers with flexibility in deciding how to cover curricula are welcome moves, given the multiple social, economic, and emotional impacts undergone by children during the pandemic, to significantly varying degrees. Such adjustments, however, need to be based on the extent and nature of learning losses experienced by students, for which conducing formative assessments is key. It is thus best that this flexibility is balanced with some general guidance on essential learning competencies for students around which curricula adjustments can be made, and benchmark diagnostic tests and guidance for teachers to assess student learning, especially in switching from formal to formative type of assessments.
The Ministry of Education should conduct careful evaluations on the timing of and the content to be tested at highly competitive national examinations and establish a new examination policy which is clearly communicated to teachers and students, leaving no room for ad-hoc changes. For instance, given the directive to focus on priority areas of the curricula in the next six-month period, the examinations should also be adapted accordingly. Some options include limiting the grade five scholarship examination to an intelligence test, replacing examinations from grades six to nine with diagnostic tests, and limiting the G.C.E. O-Levels to core subjects.
Link to blog: https://www.ips.lk/talkingeconomics/2021/11/10/reopening-schools-in-the-new-normal-key-focus-areas-for-sri-lanka/
Ashani Abayasekara is a Research Economist at the Institute of Policy Studies of Sri Lanka (IPS) with research interests in labour economics, economics of education, development economics, and microeconometrics. She holds a BA in Economics with First Class Honours from the University of Peradeniya and a Masters in International and Development Economics from the Australian National University. (Talk with Ashani – ashani@ips.lk).
Usha is a Research Assistant currently working on Health, Labour and Education Policy at IPS. She holds a BA in Economics with First Class Honours from the University of Colombo. (Talk with Usha – usha@ips.lk).
Business
Stealer malware leaked over 2 million bank cards

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

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