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Consumer inflation hits record 73.7% in September

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NCPI based headline inflation (Y-o-Y) increased to 73.7 per cent in September 2022 from 70.2 per cent in August 2022 due to increases of prices of items in both Food and Non-food categories. Meanwhile, Food inflation (Y-o-Y) and Non-food inflation (Y-o-Y) recorded at 85.8 per cent and 62.8 per cent, respectively, in September 2022. Furthermore, the NCPI measured on an annual average basis, increased to 36.9 per cent in Septmeber 2022 from 31.3 per cent in August 2022 .Indicating a marginal increase in Services activities and a decrease in manufacturing activities, on a month-on-month basis, Purchasing Managers’ Indices for September 2022 recorded 42.6 and 51.2 index values, respectively.

During the period under review (15.10.2022 to 21.10.2022) crude oil prices showed a mixed performance. At the beginning of the period, prices declined due to uncertainties around a possible economic recession, higher US supply, and lower Chinese fuel demand. However, prices increased slightly towards the end of the week with China considering to shorten COVID-19 quarantine measures to visitors. Overall, during the period under review, Brent price remained broadly unchanged, while WTI price decreased by US dollars 1.68 per barrel.

Weekly AWPR for the week ending 21st October 2022 increased by 78 bps to 29.51 per cent compared to the previous week.The reserve money decreased compared to the previous week mainly due to decrease in the currency in circulation and decrease in the deposits held by the commercial banks with the Central Bank.

The total outstanding market liquidity was a deficit of Rs. 501.173 bn by end of this week, compared to a deficit of Rs. 515.506 bn by the end of last week.By 21st October 2022, the All Share Price Index (ASPI) decreased by 4.49 per cent to 8,685.52 points and the S&P SL 20 Index decreased by 6.64 per cent to 2,597.87 points, compared to the index values of last week.Outstanding central government debt increased to Rs. 24,264.4 bn by end June 2022 from Rs. 17,589.4 bn as at end 2021. By end June 2022, total outstanding domestic debt amounted to Rs. 12,738.5 bn while the rupee value of total outstanding foreign debt amounted to Rs.11,525.9 bn.

CBSL



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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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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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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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