Category: Technology

May 17 (LBO) – Expensive telephone calls and tough labour laws could scare off multinational companies eyeing Sri Lanka as a possible destination to outsource business. South Asia has some of the highest firing costs in the region and Sri Lanka stays on top for rigid labour laws and high severance pay, a World Bank […]

May 15, 2006 (LBO) – Sri Lanka Telecom (SLT) said Monday, group net profits for the first quarter of 2006 topped 1.3 billion rupees, despite continued losses from its mobile subsidiary and a levy on international calls. At the close of Monday’s trading SLT’s shares dipped 0.25 rupees or 1.9 percent to 13.00 rupees. -by […]

May 9, 2006 (LBO) – Sri Lanka’s Dialog Telekom’s net profits soared 39 percent to 2.39 billion rupees for the three months to March this year, boosted by expansion in international business and booming subscriber growth. Dialog is the largest mobile operator in Sri Lanka with over 2.30 million subscribers as at 31 March 2006 […]

May 08 (LBO) – Kobian Technologies tied up with Intel on Monday to launch a new tech platform that offers a leap in performance and graphics for mobile computers. Based on the The Intel® Centrino® Duo mobile technology, users can see a 70 percent gain in performance and 28 percent gain in power usage over […]

May 4 (LBO) – Sri Lanka plans to test the limits of smart digital mesh boxes to connect 30 rural homes onto the World Wide Web, officials said. Costing just under 30,000 dollars, this pilot project is initiated by the ICTA the government’s key IT agency is due to kick off in July, giving free […]

May 02 (LBO) – Fitch Ratings revised the outlook on Sri Lanka Telecom’s foreign currency debt to negative from stable, but said the rating of BB- remains unchanged. The revision followed a similar change in the outlook of the Sri Lanka’s sovereign rating. Both Fitch and S & P changed the outlook on Sri Lanka’s […]

Apr.25 (LBO) – Virtusa Corp., the U.S. based software development company, Tuesday announced plans to invest 15 million dollars to expand operations in Sri Lanka. The investment plans forms part of Virtusa’s strategy to invest 48 million dollars in Asia for the fiscal year 2006-7, which includes 33 million dollars in India. “Most of the […]

HONG KONG, Apr. 24 (AFP) – A long campaign to remove pirated goods from shop fronts in Asia is finally having an impact but the crackdown has also changed the nature of the problem and new outlets are flourishing.The results of police raids, a slate of new laws and increased prosecutions can be seen across […]

Apr.19 (LBO) – Sri Lankan based software firm specializing in securities trading platforms says regulatory changes in the United States and Europe, is expanding the markets for their products. MillenniumIT which started with equities trading software, now offers fixed income securities trading with latest versions catering to commodity trading and futures contracts. In addition to […]

Apr.05 (LBO) — Cellular operator Mobitel (Pvt) Ltd hopes to double subscriber growth and plans to start test runs for third generation network next month, its chief executive said Wednesday. A fully owned subsidiary of Sri Lanka Telecom, the island’s largest fixed-line operator, Mobitel is on target to complete their US$ 140 to 150 million […]

Apr. 03 (LBO) – Computer sales in Sri Lanka are forecasted to grow 11 percent by 2011, largely driven by demand from public sector, telecom and financial sectors, an IT study released Monday said. In 2005, sales of new computers rose 11 percent to 102,208 in Sri Lanka, despite risky peace talks and the after […]

Mar. 31 (LBO) – Sri Lanka Telecom, the island’s dominant fixed-line operator, Friday said they will resume sales of Code Division Multiplex Access or CDMA phones from April 1st. The decision comes after SLT got a court injunction against the telecom regulator to, on their CDMA installation charges. SLT suspended sales of CDMA connections on […]