Category: Technology
Private firm to build 10 Mw solar power plant in Vavuniya
May 20, 2016 (LBO) – Sri Lanka’s cabinet has decided to lease a 22 hectare state land in Nedun Kulam, Vavuniya to a private firm to build a 10 Mw solar power plant. The BOI approved Vydexa (Lanka) Power Corporation is to invest 14.5 million US dollars for the project and it would add 19 […]
London Stock Exchange shifts shared services to Sri Lanka; hiring staff
May 19, 2016 (LBO) – International markets infrastructure provider London Stock Exchange Group will hire up to 400 highly skilled Sri Lankans as it has decided to shift part of its technology and business functions here. The new company to be formed under the name of London Stock Exchange Business Services Colombo limited is currently […]
‘s mobile ambitions, return of Nokia
May 19, 2016 (LBO) – The demise of Microsoft’s mobile phone ambitions is on the cards with the company selling its feature phone business to a Foxconn subsidiary. Microsoft is licensing the Nokia name for handsets back to Nokia, which has set up a new company that will make feature phones, Android-based smartphones, and tablets. […]
MTD Walkers expands to Maldives
May 16, 2016 (LBO) – Integrated infrastructure and engineering solutions provider MTD Walkers announced today that it has expanded its operations to the Maldives. Walkers CML International (Private) Limited, a subsidiary of MTD Walkers PLC was incorporated in the Maldives to meet the growing demand of infrastructure development activities in the country. The group also […]
Commercial Bank of Ceylon website hacked: report
May 16, 2016 (LBO) – The corporate website of Commercial Bank of Ceylon was hacked, with its data posted online on May 12 by a hacking group which also posted data of several banks in Asia and Middle East, a report said. The group called Bozkurtla, with apparent Turkish ties, hacked data from five South […]
Sri Lanka’s Dialog Axiata net up 35-pct in March quarter
May 12, 2016 (LBO) – Profit after tax at Sri Lanka’s Dialog Axiata group, which has interests in mobile, fixed and pay television rose 35 percent to 2.6 billion rupees from a year earlier in the March quarter, interim accounts showed. Revenues grew 22 percent to 21.1 billion rupees in the quarter from a year […]
Japan’s Sony and Fujisoft ink deal with Sri Lanka’s Smart Metro
May 10, 2016 (LBO) – Smart Metro, a Sri Lankan based software development company signed two separate agreements with Sony Corporation and Fujisoft Inc, Tuesday. The company will be the new sole agent for the distribution and application of Sony’s Near Field Communication (NFC) Technology widely known as ‘FeliCa’ and Fujisoft ‘s Finger-vein Biometric Authentication […]
OTT services, threat to Sri Lankan Telco revenues and state taxes: Dialog Chief
May 10, 2016 (LBO) – Sri Lanka’s telco industry may face a threat of increasing severity arising from revenue erosion due to the impact of Over the Top (OTT) communication services, a telecom operator said. As OTT companies like Netflix, Skype, Whatsapp, and Google encroach on the telecom industry, operators need to find ways to […]
‘ve crossed rubicon in climate change: Chamath Palihapitiya
May 09, 2016 (LBO) – Chamath Palihapitya, the Sri Lankan-born venture capitalist and tech visionary, highlighted several industry trends recently, ranging from Amazon’s valuation to funding fallacies in Silicon Valley. Commenting on climate change, Palihapitiya said humanity had crossed the rubicon, and new technologies will be needed to fix the problem. “Nothing takes away from […]
Sri Lanka Lotus Tower land deed still not cleared
Apr 26, 2016 (LBO) – The Lotus Tower or Nelum Kuluna’s land is still in dispute and awaiting approval from the Urban Development Authority, a senior official told Lanka Business Online. “We are still waiting for the land issue to be sorted, it needs to be cleared by the Attorney General’s Department and then the […]
‘s Kris
Apr 12, 2016 (LBO) – Disruption goes hand-in-hand with disintermediation and is a key feature that drives innovation, Kris Canekeratne of global IT outsourcing company Virtusa said. He was speaking at the well-attended LBR LBO Enterprise Summit 2016: Build Smarter Businesses with Smart Technologies or be Outsmarted, held in Colombo on Thursday. “What would life […]
Land for Sri Lanka Volkswagen assembly plant secured: BOI
Apr 11, 2016 (LBO) – Sri Lanka’s Board of Investment has helped to secure land for the setting up of a Volkswagen assembly plant, the investment promotion agency said. “Through the successful facilitation by Upul Jayasuriya, chairman of the Board of Investment of Sri Lanka and his officials, working closely with the Ministry of Lands, […]