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Stax hosts webinar to shed light on Management consulting in the 21st Century

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Leading global management consulting firm Stax recently conducted a webinar on ‘Management Consulting in the 21st Century’, providing a comprehensive overview of trends in the profession and its future growth potential. The webinar drew over 200 participants as the excellent lineup of panelists shed light on the evolution of the consulting field and also spoke to the need for adopting international best practices. The session was insightful for both newcomers to the field as well as experienced professionals, with opportunities for growth and innovation in the field being discussed.

“The infusion of new blood into the profession is an essential process”, stated Stax Managing Director Dr. Kumudu Gunasekera, kicking off the webinar. “As one of the foremost organizations in the field of Management Consulting, we see it as our responsibility to raise the standard of the entire industry. This webinar is aimed at experienced professionals and new entrants alike, aiming to give them knowledge to steer their careers, transform themselves and make a mark, especially at one of the most dramatic times in human history.”

The panel for the event included Prabodha Shawn Silva, a mechanical engineer turned management consultant, counting 16+ years’ experience. He provided a snapshot of the evolution of management consulting while also outlining its importance in the business world. For those looking to enter the field, he specifically highlighted how one can leverage their varied backgrounds and skills for a successful career in consulting.

Thivanka Bandara, a young leader at Stax with 9+ years of experience, enlightened the audience on multiple growth opportunities at Stax. He highlighted how the organization has structured its key practices, allowing individuals to carve their own career journey, from a very early stage, based on individual competencies. Stax Alumni Firaz Markar, a veteran consultant with over 14 years in the field, elaborated on the positive professional and personal transformations witnessed throughout his career. The honing of many useful and transferrable skills such as being solution-oriented and applying structured thinking, were some core areas discussed by Firaz.

Rashmi Peiris Paranavitane, CFA with over 15 years of experience, stressed the importance of personal autonomy and having the tenacity to carve your own path, in order to be successful in this demanding field. She elaborated that while the ‘Working from Home’ trend necessitated by the pandemic has been challenging for many—especially for those simultaneously caring for young children at home—that there have also been unprecedented opportunities for individuals to redefine their own work-life balance, and that companies will be expected to continue making allowances for more flexible work environments.

As businesses emerge from the COVID-19 crisis new ideas, tools, work processes, and frameworks will be essential for navigating this ‘Great Reset.’. Stax Inc. is a global management consulting firm, headquartered in Boston and offices in Chicago, New York, and Colombo. With more than 25 years of experience, Stax advises the world’s largest public and private corporations, private equity firms and their portfolio companies across a broad range of industries covering 40+ international markets. With a growing client base in Sri Lanka, including diversified conglomerates, blue-chip industry leaders, large family businesses, government organizations, and NGOs, Stax inspires organizations to dream big, think outside the box, and complement gut-based decision-making with fact-based research. For more information, please visit www.stax.com.



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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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