Connect with us

Business

Inadequate foreign funds inflow having CSE investors worried

Published

on

By Hiran H.Senewiratne

CSE investor sentiment was negative yesterday because investors were worried over the fact that loans and foreign funds expected by the country have not materialized fully to date. However, on the previous day investor mood was upbeat because the CSE recovered dramatically by registering the highest single-day points gain, stock market analysts said.

Sri Lanka printed large volumes of money to keep interest rates low from early 2020, which has resulted in forex shortages and high inflation, besides other issues. These problems have resulted in investor confidence eroding in a big way, market analysts said.

The CSE started on a positive note but later turned negative due to the country’s external and internal environmental issues. Both indices declined. The All- Share Price Index went down by 193 points and S and P SL20 declined by 72.4 points. Turnover stood at Rs 3 billion which was below last year’s average level of Rs. 3.5 billion. But two crossings were reported. Those crossings were reported in Asia Capital, which crossed 12.7 million shares to the tune of Rs 88.9 million; its share price was Rs 67 and Browns Investments 7.6 million shares crossed to the tune of Rs 83.6 million, and its shares traded at Rs 11.

In the retail market top seven companies that mainly contributed to the turnover were; Expolanka Rs 792 million (2.7 million shares traded), Browns Investments Rs 265 million (23.2 million shares traded), Lanka IOC Rs 259 million (4.5 million shares traded), LOLC Finance Rs 152 million (8.4 million shares traded), Royal Ceramic Rs 109 million (two million shares traded), LOLC Holdings Rs 81 million (94000 shares traded) and Softlogic Capital Rs 74.6 million (six million shares traded). During the day, 143 million share volumes changed hands in 36000 share transactions.

It is said that high net worth and institutional investor participation was noted in Hayleys, Sunshine Holdings and ACL Cables. Mixed interest was observed in Expolanka Holdings, LOLC Holdings and Royal Ceramics, while retail interest was noted in Browns Investments, LOLC Finance and SMB Leasing non-voting.

With the Central Bank deciding to free float the currency, the majority of the dollar earning companies gained significantly enjoying higher investor confidence, although turnover and retail participation were at a low level. Yesterday the US dollar parity rate was Rs 251.96.



Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

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

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

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

Trending