Category: Technology

June 7, 2007 (LBO) – Alcatel-Lucent, the largest telecom equipment manufacturers in the world, opened a branch in Sri Lanka Thursday saying sales have doubled in the island during the last two years. “All the south Asian markets are very competitive. We will continue to provide support to our customers and we will push for […]

May 29, 2007 (LBO) – Ceylinco Insurance is tapping into Sri Lanka largest mobile subscriber base with a pre-paid card insurance scheme with Dialog Telekom, officials said. Sri Lanka’s insurance penetration remains poor at three percent for an island of 20 million people. The accident insurance cover package premiums are priced between five and 20 […]

May 24, 2007 (LBO) – Shareholders of Dialog has approved its 15.5 billion rupee rights issue which is the highest cash call made on the Colombo Stock Exchange, the company said. Dialog says the financing forms a part of a larger medium term funding programme, which would include more local and off-shore debt infusions to […]

May 22, 2007 (LBO) — Sri Lanka plans to allow third parties to operate payphone booths in an attempt to popularise them in far flung areas outside the city of Colombo, a top official said. The island’s eight public switched telephone network (PSTN) operators will now be allowed to appoint a third party to operate […]

May 19, 2007 (LBO) – Information technology has a component that gives the technology a competitive advantage in business, IT specialists say. That component gets commoditised but companies must come up with new components to stay on the top, they say. œThere is definitely a component of IT which is really giving the competitive advantage […]

May 18, 2007 (LBO) — Sri Lanka’s telecom watchdog has given the island’s first Internet service provider, Lanka Internet Services Ltd., extra time to restore services to thousands of customers currently stranded offline, after the company halted services, a top official said. Lanka Internet hit financial difficulty in March with the senior management disappearing without […]

May 18, 2007 (LBO) – A new deal between the buyer of Japan’s NTT stake in Sri Lanka Telecom and the government is being hammered out in a way that will protect the interests of the 49 percent state holding, a top government official said. Treasury Secretary P B Jayasundera told reporters there was no […]

May 17, 2007 (LBO) – Telekom Malaysia sold a small part of its 87 percent stake in Dialog Telekom Thursday, driving turnover on the Colombo bourse to an all-time high of over 6.6 billion rupees. More than 233.6 million Dialog shares, part of the seven percent placement, done by CT Smith Stockbrokers, went through at […]

May 16, 2007 (LBO) – Telekom Malaysia is planning to sell about seven percent of its share in its Sri Lankan subsidiary but would be buying into a rights issue of Dialog Telekom, irrespective of whether a sell down happens or not, an official said. “We are looking at the possibility of selling down seven […]

May 15, 2007 (LBO) – Sri Lanka Telecom (SLT) said Tuesday it has received BOI status from the Board of Investment that would enable it to import and buy locally project-related items free of customs duty. However, the company would not be exempt from income tax like other firms with BOI tax concessions. SLT Chief […]

May 15, 2007 (LBO) – Sri Lanka’s Board of Investment Tuesday said it had given approval for India’s largest publicly-listed telecom firm, Bharti Airtel, to be the island’s fifth mobile phone operator with an investment of 150 million dollars. Airtel is subsidiary of Bharti Enterprises which has interests in telecom services, equipment manufacture and export, […]

May 9, 2007 (LBO) – Sri Lanka Telecom, the country’s largest fixed access operator saw after tax profits growing by 53 percent to 1.98 billion in the March quarter, on the eve of a possible shareholder and management change. Revenue grew 14 percent to 10.9 billion rupees in the quarter, according to accounts filed with […]