Connect with us

Business

INSEE Cement signs MOU with HIPG to improve supply chain efficiency

Published

on

Gustavo Navarro, chief Executive Officer of INSEE Cement and Johnson Liu, CEO of HIPG at the agreement signing ceremony held at The Hambantota Maritime Center

The Hambantota International Port Group (HIPG) signed an agreement with INSEE Cement, the leading cement manufacturing company in Sri Lanka, to ensure the efficient transfer of raw materials to their factory in Galle, via the Hambantota Port.  This will have a positive impact on the operational efficiency.

The agreement was signed between Gustavo Navarro, chief Executive Officer of INSEE Cement and Johnson Liu, CEO of HIPG at a ceremony held at The Hambantota Maritime Center.

CEO of HIPG Johnson Liu expressed his appreciation of the partnership with INSEE saying, it would be of great mutual advantage for both parties.  “INSEE Cement was Hambantota International Port’s (HIP) first customer for dry bulk cargo and we greatly appreciate the trust they placed in us.  We have worked with them from 2018 and have been able to greatly increase our productivity in handling dry bulk volumes.  Recognizing the value, the companies bring to each other, we decided to strengthen the partnership by entering into an agreement that will continue creating win-win opportunities that will be of mutual benefit.”

The CEO added that the port handled a dry bulk volume of over 1 million metric tonnes in 2021, for the first time exceeding the 1 million range, under a single customer, which was a milestone achievement for the port.

Gustavo Navarro, Chief Executive Officer of INSEE Cement said that working with HIPG has been a great advantage for them. “Due to the limitations we have experienced in our previous operations, we couldn’t bring bigger vessels with larger volumes. HIP has been a great business partner for us and the port came up with some creative solutions to get our raw materials delivered efficiently and in a timely manner which made a positive impact on our operation.  This has not only benefited our company but also the local economy in terms of dollar savings because it reduced freight costs we otherwise paid to foreign vessels.”

Thusith Gunawarnasuriya, Director Procurement and Logistics of INSEE Cement further mentioned with HIP they were able to use larger vessels to carry their raw materials due to the port’s deep draft facilities. “HIP’s productivity levels are impressive and the quick turnaround helped us to achieve economies of scale and increase our production levels which in turn increased volumes for the port.  This not only benefited Insee but our end user.”

Lance Zuo, General Manager Commercial and Marketing of Hambantota International Port Group (HIPG) says, “INSEE was of great assistance in developing the dry bulk cargo segment, they also brought in a dust controlling mechanism and effective implementation ensures operations are carried out in an environmentally friendly manner. Our outsourced contractors and operational staff were of tremendous support and efficient planning of manpower such as stevedoring and higher levels of communication between logistics providers and the port contributed to the success of our operations which has benefited Insee, and we will continue to provide the same high quality of service,” he adds.

The agreement with INSEE is a stepping stone for the port.  HIP is fast positioning itself as a fully functional multi-purpose port with continuous training and testing of its systems for optimum efficiency, which is part of the DNA of all CMPort operations across the globe.



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