Business
Baurs on bringing the world to Sri Lanka

Amidst the numerous challenges and evolving contexts over the many decades, A. Baur & Co. (Pvt) Ltd, also more widely known as Baurs has been contributing tremendously to the sustainable growth and wellbeing of the nation for over 125 years, as a front-runner in bringing the world to Sri Lanka, a company news release said.
“Being the pioneers in the agriculture industry of Sri Lanka, the track-record innovation and achievements of Baurs and its contribution goes without saying. It possesses one of the most advanced, high-tech fertilizer mixing facilities in the whole of Southeast Asia, with machinery and equipment imported from best-in-class industry players in the US.
“When the deadly fall armyworm (FAW) entered, starting to take a toll in the country’s plantations in 2018, the team at Baurs quickly stepped in and began a rigorous R&D program where, two years later, it successfully registered the first ever bio pesticide for the nation to eradicate and control FAW.
“Ever since the country made its decision to ban chemical fertilizers and pesticides in 2021, Baurs took the lead initiative to bring down some of the most globally renowned scientific experts in the fields of organic and sustainable agriculture to Sri Lanka.
“And together with the participation of diverse stakeholder groups and proactive engagements ever since, Baurs is well positioned with its strong commitment towards a greener economy through sustainable agriculture, having significantly invested and developed a centre of excellence.
“Baurs’ laboratory services also took the first step towards achieving the ISO certification for organic fertilizer and was recently awarded the same. This will further strengthen its journey in encouraging sustainable farming practices.
“When world-class healthcare giants took measures to exit their offices and carefully handover their distribution in Sri Lanka, Baurs had the privilege of being the first-choice partner.
“Being one of the top importers and representatives in the country with a vast distribution network supported by end-to-end supply chain and martech capabilities, Baurs ensured the continuation of the availability of medications and vaccinations for patients, for instance, by becoming the exclusive distributors of Sanofi and GSK in Sri Lanka and the Maldives.
“With Sri Lanka experiencing one of the biggest brain drains for decades, Baurs brought the world’s proven apprenticeship-based model through its Swiss Hotel Management Academy (SHMA), which is licensed to deliver the VET by EHL program, from EHL Hospitality Business School founded as Ecole hôtelière de Lausanne and recognized as the world’s best hospitality management university.
“As the economic challenges spiraled through the rural areas across the island, Baurs joined hands with the Swiss Agency for Development and Cooperation (SDC) to initiate and spur the Skills for Sustainable Growth (SSG) project which came about during the height of the pandemic.
“The project will go on to create 2,240 skilled young men and women within three years, and more so specially to increase female representation, training and upskilling them to become work-ready in the hotel management industry.
“Through these activities, Baurs is also supporting the country’s tourism sector, including collaborations with others, such as with the VTA Sri Lanka and Nestle Lanka recently. Along similar lines, Baurs also contributes to inbound tourism by bringing Swiss tourists and travelers to Sri Lanka through its long-standing partnership with Edelweiss.
“In recognition of its unwavering strategic direction and strong emphasis on ethics and governance, Baurs was selected by Transparency International as an anchor partner, bestowing the company to take initiatives in the business community, to reduce corruption in Sri Lanka. Baurs also strives to work towards the 17 Sustainable Development Goals (SDGs).
“Baurs also donates school furniture under its social infrastructure development pillar, having so far donated to over 380 schools and over 280 institutions including religious establishments, across all 25 districts. It is also a principal donor to a school for children with hearing deficiencies. Baurs also provides training to underprivileged individuals and secures them with a six-month internship programme with prospects for full-time employment.
“As can be seen, Baurs has a strong presence in Sri Lanka, bringing foreign products and knowledge that have helped the country through the good and bad times. It continues to build on the 125-year legacy initiated by Alfred Baur, improving its current business models and spreading into new fields in ways that will continue to bring benefits for the country.”
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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