Business
Microsoft announces Imagine Cup Southeast Asia New Markets Regional Competition

COLOMBO, Sri Lanka:
Microsoft recently held a virtual launch event for its upcoming Imagine Cup Southeast Asia News Markets Regional Competition, an annual innovation challenge for students and technology enthusiasts. The event featured an eclectic line-up of speakers and a panel discussion designed to inspire students to create innovative solutions that tackle some of the world’s biggest social, environmental, and health challenges.
Commenting on the competition, Pablo Veramendi, Global Director for the Imagine Cup, Microsoft, said, “Imagine Cup is a global competition designed to empower students to apply artificial intelligence and other technologies to solve some of the world’s most critical social and sustainability issues. For the past 20 years, it has served as a platform for students to couple technology with innovative ideas and build something that matters to them, make a difference in their communities, and create societal impact.”
More than two million competitors from 163 countries have signed up for Microsoft’s global student technology competition to build something that matters to them, make a difference in their communities, and innovate for impact. For the Imagine Cup’s 20th anniversary this year, the brightest young minds will build, learn, and compete together to solve global challenges in four categories: Earth, Education, Health, and Lifestyle.
“The Southeast Asia New Markets’ economic development depends on innovations, high-tech jobs, and new-age skills,” said Sook Hoon Cheah, General Manager, Southeast Asia New Markets, Microsoft APAC. “The Imagine Cup emphasizes the importance of skills and learning in achieving inclusive and long-term youth development. Our goal is to provide opportunities and platforms for them to develop their skills in building innovative solutions that solve real world problems.”
A trio of past Imagine Cup winners and finalists — Chathusha Wijenayaka (Consultant – Technology at Virtusa), Melisha Ghimire (Managing Director at Shequal Foundation), and Eeda Rijal (CEO/Product Designer at SochWare & Co-founder at Covid Connect Nepal) — shared their experiences during the panel discussion, which was moderated by Thilanka Abeywardena, CMO Lead for the Southeast Asia New Markets at Microsoft.
The event also featured an esteemed line-up of guest speakers such as Namal Rajapaksa (Sri Lankan Minister of Youth & Sports and State Minister of Digital Technology and Enterprise Development), Zunaid Ahmed Palak (Bangladeshi State Minister of the Information and Communication Technology Division and Ministry of Posts,
Telecommunications and Information Technology), and Prof. Sampath Amaratunge (Chairman of the University Grants Commission, Sri Lanka). At Imagine Cup 2022, students and technology enthusiasts aged 16 or older are invited to build unique technology solutions leveraging Microsoft’s technology to build purpose-driven solutions. The top four teams from the Southeast Asia New Markets Regional Competition will get a guaranteed spot in the world finals and will be mentored by Microsoft experts. The world champion will take home, the Imagine Cup and win an additional USD 100,000 along with a mentorship opportunity with Microsoft Chairman and CEO, Satya Nadella.
Business
Stealer malware leaked over 2 million bank cards

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%.
Business
ComBank’s 2023 Annual Report tops Banking sector at ACCA Sustainability Reporting 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.
Business
UTE Delivers Sri Lanka’s Largest Cat D8 Tractor to NEM Construction

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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