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CSE trading halts twice; indices dip steeply

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By Hiran H.Senewiratne 

Trading at the CSE was halted twice yesterday. On the first occasion, the index of liquid stocks fell 8.13 percent, triggering a 7.5 percent circuit breaker. Trading  was halted for a second time  at  12.18 hours, when the index fell 5.0 percent.

Initially, CSE’s benchmark All Share Index fell 6.47 percent or 500 points and there was heavy selling pressure, stock brokers said.

Stock buyers who had bought on margin or credit were also trying to cut positions. The index had been going up partly due to low interest rates amid record excess liquidity in money markets. Many investors are also sitting on capital gains after a 30 percent gain in January 2021, market sources said.

Analysts said the CSE had fallen by nearly 15 percent  from 9,000 points to 7,735 points within days, perhaps exposing fickleness, but others said fundamentals were intact based on earnings and valuations, hence investor behaviour was unwarranted. 

Amid those developments, the market witnessed a fast recovery in the latter part of the day and huge selling pressure was noted in the LOLC Group and Vallibel One. Further, Carsons Cumberbatch and Vallible One were two companies that lowered the index. In the latter part of the day, the  All Share Price Index had fallen 134.62 points and the S and P SL20 had declined by 48.42 points.   During the day only 76 companies’ share prices moved up and 156 recorded a drop in prices, market sources said. 

The turnover stood at Rs. 4.38 billion without any crossings. In the retail market, top five contributors to the turnover were, Expolanka Rs. 563 million (12.5 million shares traded), Browns Investments Rs. 458 million (90.8 million shares traded), LOLC Holdings Rs. 404 million (one million shares traded), Royal Ceramic Rs. 381 million (1.4 million shares traded) and JKH Rs. 352 million (2.3 million shares traded). During the day, 198 million share volumes changed hands in 37,000 transactions.   

Sri Lanka rupee was quoted around 195.00/198.00 levels in the one-week forwards market on Wednesday, while bond yields edged up on selling pressure, dealers said.

The rupee last closed in one-week forward market at 196.00/198.00 levels on Wednesday. The rupee closed wide 194.00/198.00 to the US dollar in the spot market on Wednesday.



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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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