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LOLC Advanced Technologies launches RT-LAMP Test Kit for COVID-19 Detection for the first time in Sri Lanka

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COVID-19, the novel coronavirus infection, which began in Hubei Province, China in December 2019 transformed to an unprecedented worldwide crisis in great speed. The pandemic caused snap lockdowns, social distancing and an alarming number of loss of human lives across the world – all this, resulted in grave humanitarian and economic loss, globally. In Sri Lanka, the pandemic has claimed over 14,000 lives already. Ever since the first case was detected in early 2020, Sri Lanka experienced several lockdowns and travel restrictions which caused most economic activities in the country to come to a standstill.

Across the world, the outbreak of COVID-19 also spurred widespread scientific research from prevention, cure to detection. LOLC Advanced Technologies collaborated with the Sri Lanka Institute of Nanotechnology (SLINTEC) through Ceylon Nano Diagnostics Pvt Ltd. (CNDL) to introduce the loop-mediated isothermal amplification (LAMP) method for the first time in Sri Lanka to curb the limitations of the standard coronavirus detection method approved by the World Health Organization which is RT-qPCR method. This novel process is similar to the conventional PCR tests, with the exception that the nucleic acid amplification occurs at one temperature. As a result, certain mandatory equipment for PCR such as a thermal cycler is not required. This method of detection being quicker, easier to use, and more cost effective than RT-qPCR tests in terms of diagnosis, has many advantages such as wide pH and temperature ranges that are acceptable, the ability of the assay to accept non-processed samples, and the flexibility of the readout methods, all the while maintaining specificity and sensitivity that is about equal to that of the PCR tests.

Ceylon Nano Diagnostics Pvt Ltd. is a Joint Venture (JV) company established to produce RT-LAMP kits and other research and development initiatives related to the molecular diagnostics field. LOLC Advanced Technologies is the management entity for CNDL on behalf of Browns Pharma Limited’s shareholding of 50% while SLINTEC bears the balance 50% shareholding.

SLINTEC has successfully demonstrated the use of RT-LAMP as a robust method for SARS-CoV-2 detection in clinical specimens in Sri Lanka. Even though, several detection methods are available in the LAMP assay, SLINTEC has developed the RT-LAMP kit with the fluorescence detection which is the most sensitive method that can be performed using RT-PCR machine which is currently used for detection of COVID-19. After demonstrating the proof of concept, the SLINTEC RT-LAMP assay was validated against the existing RT-qPCR test at Sri Jayewardenepura University (SJP), by analyzing RNA extracted from more than 200 patient specimens supplied by SJP. This was followed by analyzing virus samples isolated from positive patients supplied by National Institute of Infectious Diseases (IDH) using RT-qPCR available at SJP. Subsequently, the SLINTEC RT-LAMP kit was validated independently by the National Medicines Regulatory Authority (NMRA) at three different laboratories (Infectious Diseases Hospital, Karapitiya Teaching Hospital and Medical Research Institute) for its performance. Having carried out a GMP compliance audit, the NMRA has also given the green light to manufacture the product at the CNDL production facility. In addition, the Ministry of Health has given their consent to use the LAMP technique in Sri Lanka. After a stringent compliance audit, the manufacturing facility was awarded the GMP Certificate to commence manufacturing and finally the product obtained the NMRA approval for commercial use in the Sri Lankan molecular diagnostics market. Although RT-LAMP is new to Sri Lanka, it is currently being used in several other countries including USA and UK.

Commenting about the collaboration, LOLC Group, Deputy Chairman Ishara Nanayakkara said, “At LOLC, our increasing investments in science, research and technology derives from our passion and thirst for knowledge and scientific innovation which is centered on local value addition. I am pleased to note that this collaboration has done just that and especially at a crucial stage of an evolving pandemic. As a Group, we are committed to continue to work and invest in such value additions whilst providing local scientists and researchers the opportunity and platform to explore and make use of their skills and knowledge”.

LOLC Advanced Technologies (Pvt) Ltd. is the research arm of the LOLC Group. The company provides advanced technological consultation support to companies under the LOLC umbrella in the fields of precision agriculture, process improvements for cinnamon agronomy and value addition, new product development in plant nutrition and agro-chemistry. LOLC Advanced Technologies was set up to explore sustainable business opportunities in the market with augmentation of Science and Technology. It is a wholly-owned subsidiary of LOLC Holdings PLC.

To capitalize on the marketing, distribution, technical and application services in the market, CNDL entered into an agreement with Avon Pharmo Chem (Pvt) Ltd., a long-standing leader in the molecular diagnostics market in Sri Lanka.

Dilip K. Fernando, CEO of Avon Pharmo Chem Pvt Ltd said, “Avon possesses the country’s best application, technical team and marketing processes in serving the biotechnology and molecular diagnostics laboratories. We are confident that the COVID 19 test kit produced in Sri Lanka can be instrumental in resolving the challenges faced by the country right now. As we have already received a better response from the private sector COVID-19 testing laboratories, we are fully engaged in training laboratory staff for adopting the technology faster so that all the laboratories can use the kit soon.”

Commenting, Dr. Naresh Handagama, CEO of SLINTEC said, “The COVID 19 test kit developed by the scientists at SLINTEC according to industry best practices, compliance and protocols, has been commercially launched for the Sri Lankan molecular diagnostics market. This is the first of its kind in our history that a test kit of this kind has been able to successfully pass the hurdles of very stringent GMP and NMRA standards certificates together with a series of other validations and trials in many laboratories.  When COVID hit our country, many industry leaders engaged in various activities to support the government’s battle in combating the COVID 19 challenge. But, LOLC looked for sustainable ways of facing this issue by investing in science and technology expertise and infrastructure. When SLINTEC announced their engagement in test kit development, LOLC leveraged the idea that could support for future developments as well. This initiative is of great national importance as we are now able to produce this test kit locally and save the outflow of foreign currency from our country whilst better serving the nation with improved performance”.



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Stealer malware leaked over 2 million bank cards

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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%.

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

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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.

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

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(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.

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