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Friday September 11th, 2026

Space systems may become targets and tools for cyberattacks: Kaspersky ICS CERT

Kaspersky ICS CERT’s recent report highlights that modern space security is no longer just about guarding physical satellites in orbit.

According to publicly available data, over 100 cyber incidents targeting space systems were recorded between 1957 and the early 2020s.

“A space system comprises far more than what is launched into orbit; the ground-based control networks, communication channels, and subscriber receivers represent the true, and often fragile, operational foundation of the entire system. As satellite technology becomes deeper integrated into civilian life – from navigation systems to energy grids – securing these connections, enforcing encryption on downstream links, and patching vulnerable internet-exposed receivers is of highest importance,” commented Ekaterina Rudina, Security Analysis Expert at Kaspersky.

Today’s “space system” consists of an interconnected web of ground control stations, terrestrial communication links, user terminals, and third-party software – with attackers frequently exploiting the most accessible and least secure links in this chain.

Kaspersky’s past reports highlight a critical risk to Global Navigation Satellite Systems (GNSS).

Following a sharp spike in GPS/GNSS signal spoofing in the Black Sea region in 2023, Kaspersky researchers audited internet-exposed GNSS hardware in collaboration with 70 global equipment vendors.

They discovered that more than 3,000 GNSS receivers are actively vulnerable to attacks directly over the internet, presenting severe risks to maritime, aviation, and land logistics.

To protect their systems from internet-based attacks, organizations should keep GNSS receivers unreachable from the outside.

Kaspersky recommends protecting your devices with robust authentication mechanisms.

Threat actors often abuse satellite infrastructure to conceal their malicious activities.

Throughout the 2010s, Advanced Persistent Threat (APT) groups like Turla and Whitebear hijacked unencrypted downstream satellite traffic to route their server communications, achieving an unprecedented level of anonymity.

This issue is compounded by the low barrier to entry for interception; as early as 2009, militants in West Asia demonstrated that commercially available, low-cost software could be used to intercept unencrypted, downstream video feeds from military systems.

Today, sophisticated APT groups like Thrip continue to target satellite operators and geospatial mapping databases to monitor or directly disrupt critical space infrastructure.

Kaspersky ICS CERT’s report also points to the critical secondary impacts of space-oriented cyberattacks.

In 2022, a major cyberattack hit satellite operator Viasat’s KA-SAT network.

Initiated via a misconfigured VPN device, the threat actors deployed the AcidRain wiper, disabling approximately 30,000 satellite terminals across Europe and indirectly halting the remote operations of more than 5,800 wind turbines.

This trend has only been intensifying, with the 2024 discovery of AcidPour, a highly destructive successor associated with the Sandworm APT group.

Unlike its predecessor, AcidPour targets a much wider array of Linux routers, satellite modems, and data storage systems.

To reduce the risk of exploitation, Kaspersky recommends that organizations:
– Regularly audit and patch vulnerable, internet-facing ground control and user-subscriber hardware, particularly GNSS receivers

– Ensure satellite communication links are fully encrypted to prevent unauthorized traffic snooping and spoofing

– Implement robust endpoint protection on ground station terminals and enforce strict access controls on internal management networks

Read the full report on Kaspersky ICS CERT’s website.

Sri Lanka rupee closes at 328.45/60 to US dollar spot, bond yields higher

ECONOMYNEXT – Sri Lanka’s rupee closed at 328.45/60 to the US dollar in the spot market on Thursday, from 328.60/80 the previous day, while bond yields closed higher on select tenors, dealers said.

A bond maturing on 15.09.2027 closed at 9.75/95 percent, up from 9.60/90 percent.

A bond maturing on 01.07.2028 closed flat at 10.10/20 percent.

A bond maturing on 15.12.2029 closed at 10.50/60 percent, up from 10.45/55 percent.

A bond maturing on 01.08.2030 closed at 10.70/75 percent, up from 10.65/75 percent.

A bond maturing on 01.02.2031 closed at 10.80/85 percent, up from 10.75/85 percent.

A bond maturing on 15.12.2032 closed flat at 11.20/35 percent.

A bond maturing on 01.11.2033 closed at 11.65/75 percent, up from 11.70/75 percent.

A bond maturing on 15.10.2034 closed at 11.83/90 percent, up from 11.80/87 percent. (Colombo/Sep10/2026)

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Sri Lanka’s Aitken Spence Hotel Holdings to raise Rs5bn in debenture sale

ECONOMYNEXT — Sri Lanka’s Aitken Spence Hotel Holdings plans to raise up to 5 billion rupees through a debenture issue, the company said in a market filing.

The hospitality firm will make an initial issue of 30 million listed, rated, unsecured, senior, redeemable debentures at 100 rupees each, to raise 3 billion rupees.

A further 20 million debentures will be issued in the event of an oversubscription.

The subscription list for the issuance will open on September 15.

The issue offers four types of fixed-rate options across 5-year (2026/2031) and 7-year (2026/2033) tenors.

Type A (5-Year) at a fixed interest rate of 13.00 percent p.a., paid annually (13.00 percent AER), Type B (5-Year) at a fixed interest rate of 12.60 percent p.a., paid semi-annually (13.00 percent AER), Type C (7-Year) at a fixed interest rate of 13.15 percent p.a., paid annually (13.15 percent AER) and Type D (7-Year) at a fixed interest rate of 12.74 percent p.a., paid semi-annually (13.15 percent AER).

The company has received in-principle approval from the Colombo Stock Exchange (CSE) to list the debt instrument.

Shares closed at 85.80 rupees, down 1.38 percent. (Colombo/September10/2026)

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Sri Lanka’s Senthilverl Holdings tops 10-pct stake in Sarvodaya Finance

ECONOMYNEXT — Sri Lanka’s Senthilverl Holdings has increased its stake in Sarvodaya Development Finance beyond the 10 percent following a market transaction, a market filing showed.

The transaction on September 9, through broker Almas Equities, involved the purchase of 750,000 voting shares at prices ranging between 39.70 rupees and 41.00 rupees per share.

Prior to the trade, Senthilverl Holdings held 14,633,597 shares, representing a 9.78 percent stake in the finance company as of September 8, 2026.

Following the acquisition, the total shareholding rose to 15,383,597 shares, bringing the resulting stake to 10.28 percent of the company’s total issued share capital of 149,596,052 shares.

Sarvodaya Development Finance shares were trading at 39.60 rupees, down 3.41 percent. (Colombo/September10/2026)

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Sri Lanka telco regulator launches automated equipment clearance platform

ECONOMYNEXT — The Telecommunications Regulatory Commission of Sri Lanka (TRCSL) has launched an automated online platform to clear imported telecommunications equipment, replacing a manual process.

The new Equipment Clearance System (ECS) enables importers to secure necessary regulatory recommendations online for Sri Lanka Customs and the Controller of Imports and Exports.
The first phase of the system targets terminal equipment due to high market demand and import volumes.

The platform handles three main functions: issuing type approval certificates to verify that equipment models meet national standards, granting clearance for IMEI-enabled devices such as mobile phones and routers, and approving non-IMEI equipment including Internet of Things (IoT) hardware.

It also processes permissions for items brought into Sri Lanka on a temporary basis for re-export.

Clearances for devices using standard SIMs or eSIMs are administered under the Radio and Telecommunications Terminal Equipment Type Approval Rules 2020 gazette.

“Only equipment that strictly complies with the specifications outlined in that gazette will be processed through this system,” TRCSL official Amani Priyadarshani said.

The platform establishes login portals and sets specific annual limits across three user categories.

Under the system, private individuals can request clearance for up to five devices per year, while institutional applicants are permitted to clear up to 10 devices annually for corporate use.

Meanwhile, registered commercial vendors have a dedicated portal to apply for bulk imports for commercial sale, alongside the ability to import up to two units per model for technical evaluation and type approval.

The system is accessible at https://ecs.trc.gov.lk](https://ecs.trc.gov.lk or through the TRCSL official website under the equipment clearance section.

Licensed vendors are issued login credentials following their registration, TRCSL official Shashika Pannilage said, while individuals and institutional users can register through the site.

Applicants can track the progress of their submissions in real time, with notifications sent by SMS and registered email at key stages.

The TRCSL has set up user guides on the site and opened a technical help desk accessible by telephone at 1900 (extension 4105) or via email at ecshelpdesk@trc.gov.lk. (Colombo/Sep10/2026)

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Sri Lanka stocks close lower on Thursday, banking leads turnover

ECONOMYNEXT – Sri Lanka’s Colombo Stock Exchange closed down on Thursday trading, CSE data showed, with the benchmark All Share Price Index moving down 0.44 percent.

The ASPI was down 93.55 points at 21,372.45, while the more liquid S&P SL20 was down 0.39 percent, or 23.80 points, at 6,010.07.

Positive contributors to the ASPI were Aitken Spence (up 1.61 percent at 142.00 rupees), Ceylinco Holdings (up 0.85 percent at 2,925.00 rupees), Sampath Bank (up 0.36 percent at 139.50 rupees), Richard Pieris and Company (up 1.13 percent at 26.90 rupees), and The Colombo Fort Land & Building Company (up 3.03 percent at 57.80 rupees).

Melstacorp (down 1.85 percent at 186.00 rupees), Dialog Axiata (down 1.24 percent at 47.90 rupees), Cargills (Ceylon) (down 2.00 percent at 675.00 rupees), and RIL Property (down 3.21 percent at 24.10 rupees) were top negative contributors.

Market turnover was 1.45 billion rupees. Banks led the day’s turnover with 600.63 million rupees.

Senthilverl Holdings, through Almas Equities, purchased 750,000 shares of Sarvodaya Development Finance on September 9, at prices ranging between 39.70 and LKR 41.00 per share.

The acquisition increased its total holding from 14,633,597 shares (9.78%) to 15,383,597 shares, taking its stake to 10.28% and exceeding the 10% threshold required for disclosure under Section 36 of Sri Lanka’s Take-Overs & Mergers Code.

Sarvodaya Development Finance shares were trading at 39.60 rupees, down 3.41 percent.
(Colombo/September10/2026)

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Sri Lanka cannot build reserves at any cost, must prepare for shocks: Central bank

ECONOMYNEXT — Sri Lanka cannot accumulate foreign exchange reserves through market distortions, money printing, or heavy foreign borrowing, but must build buffers before external shocks strike, Central Bank Governor Nandalal Weerasinghe said.

“For central banks, foreign reserves are far more than financial assets on a balance sheet. They are a country’s—a nation’s—first line of defense against external shocks,” Weerasinghe told a Reserve Management Conference in Colombo.

Foreign exchange reserves are a nation’s savings that provide vital time and policy space during a crisis, preventing disorderly economic corrections, Weerasinghe said.

Sri Lanka experienced this during its 2022 economic crisis when depleted buffers crippled imports, accelerated inflation, and triggered debt defaults, he said.

While external balances have improved since 2023, rebuilding reserves is not linear because sudden shocks can quickly wipe them out.

Weerasinghe warned that rebuilding buffers requires discipline and cannot happen at any cost. Excessive market interventions distort price signals, monetary financing fuels inflation, and commercial debt creates future repayment burdens.

“A sustainable reserve accumulation strategy is not merely about acquiring reserves; it is about building an economy that naturally generates and retains foreign exchange,” he said.

Weerasinghe said reserve adequacy must move beyond simple months of import cover to assess debt servicing, volatile capital flows, and climate shocks.

He cautioned that portfolio diversification must not compromise liquidity, while citing bilateral support from the Reserve Bank of India during the crisis as vital regional resilience.

Asian Infrastructure Investment Bank (AIIB) Treasurer Domenico Nardelli, who attended as the chief guest and delivered the keynote address, noted that reserve managers face sharp price swings even in safe assets like US Treasuries.

Nardelli dismissed claims of an imminent dollar collapse, noting it accounts for roughly 57 percent of allocated global reserves. While gold has hit record levels, he cautioned that it pays no yield and carries sharp price swings.

“Liquidity carries an inherent cost of carry. Rather than viewing this financing drag as lost yield, institutions must treat it as an essential insurance premium,” Nardelli said.

Citing historical merchant bank failures and the 2023 collapse of Silicon Valley Bank, Nardelli said holding ample liquid buffers buys critical time to reassure markets and manage unexpected cash outflows. (Colombo/Sep10/2026)

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