Category: Technology
Virtusa Announces First Quarter 2017 Consolidated Financial Results
(PRESS RELEASE) – Virtusa Corporation (NASDAQ GS: VRTU), a global business consulting and IT outsourcing company that combines innovation, technology leadership and industry solutions to transform the customer experience, reported consolidated financial results for the first quarter fiscal 2017, ended June 30, 2016. First Quarter Fiscal 2017 Consolidated Financial Results Revenue for the first quarter […]
SLT gets full landing status for SEA-ME-WE 5 in Matara
Aug 12, 2016 (LBO) – Telecommunications and ICT solutions provider, Sri Lanka Telecom PLC (SLT), says it has gained full landing status of SMW5 Cable Station in Matara. With this, Sri Lanka can offer the region “state-of-the-art global services provided through multiple international undersea cable systems,” SLT said in a statement. SLT’s International Backhaul Network […]
Sri Lanka needs to accelerate broadband development: Harin
Aug 09, 2016 (LBO) – Sri Lanka’s government says that as the island embarks on a journey of transformation to become a digitally enabled and empowered society, the importance of having a robust fixed-broadband base to build upon is critical. “We strongly believe that this is indeed the ripe time to accelerate broadband development in […]
Sri Lanka’s Dialog Axiata net up 20-pct in June quarter
Aug 08, 2016 (LBO) – Profits at Sri Lanka’s Dialog Axiata group, which has interests in mobile, fixed and pay television rose 20 percent to 2.3 billion rupees from a year earlier in the June quarter, interim accounts showed. The group reported earnings of 28 cents per share for the quarter compared to 23 cents […]
Mobitel explores acquisition of Etisalat: report
Aug 01, 2016 (LBO) – Sri Lanka’s Mobitel intends to explore acquisition of Etisalat, after the Cabinet Committee on Economic Matters said it could carry out a due diligence prior to negotiations between the mobile companies, a media report said. A Committee is already looking into the proposed acquisition of Hutch, the fourth mobile phone […]
Sri Lanka to establish technology incubator with Wayamba Uni
July 28, 2016 (LBO) – Sri Lanka will establish an incubator and technology transfer centre in a joint project with the Wayamba University at a cost of 46.5 million rupees. According to a Cabinet decision, the centre will be established in Makadura (West) Industrial Estate together with the National Enterprise Development Authority.”This will facilitate start-ups […]
Moratuwa Uni “D-Mora P1” car wins accolades at Formula Student UK 2016
July 28, 2016 (LBO) The D-Mora P1 race car built by the engineering students from the University of Moratuwa with the backing of Diesel & Motor Engineering PLC (DIMO), one of the leading automobile companies in Sri Lanka, won accolades at the world’s biggest student motorsport competition “Formula Student 2016”. This was the first time […]
Sri Lanka introduces welfare register to reduce ‘ghost’ beneficiaries
July 22, 2016 (LBO) – Sri Lanka’s project management and monitoring department with ICTA has prepared a single window for an integrated social welfare register, based on the recipient’s unique NIC number. National Policies and Economic Affairs Ministry said 80 percent of data has currently been uploaded to the system and further refining is in […]
Operational aspects more important than startup valuation: Nissanka
July 20, 2016 (LBO) – Operational aspects of startup IT companies are more important than discussions over valuation, a venture capital expert said at a forum recently. “For each of the successes, there are tombstones that you don’t want to talk about,” Nissanka Weerasekera, a well known VC investor tied to Sunshine Holdings and the […]
Final bids on Yahoo core assets to conclude soon
July 15, 2016 (LBO) – The drawn-out auction for Yahoo’s core internet business will soon draw to a close, with final bids for the services, which include Yahoo’s search, email, advertising and media operations, due Monday. The board is set to make a decision soon afterward on the confidential bidding, CNBC reported. The sale of […]
Sri Lanka up two notches in Networked Readiness Index 2016
July 07, 2016 (LBO) – Sri Lanka has been ranked 63rd among 139 countries in the 2016 Networked Readiness Index showing a marginal improvement on its previous 65th place rank in 2015. The island nation ranked 76th in 2014 and 69th in 2013 in the Networked Readiness Index. The index measures how economies use the […]
Hans Wijayasuriya wins outstanding Asia mobile contribution award
July 01, 2016 (LBO) – Hans Wijayasuriya, group CEO of Axiata Dialog and the regional CEO for South Asia, Axiata Group, has won the Outstanding Contribution to the Asian Mobile Industry Award given by GSMA. “The award recognises sustained or extraordinary contributions by individuals, organisations or collaborative achievements that advance the value and benefits of […]