Category: Technology

Dec 12, 2012 (LBO) – Sri Lanka’s state investment promotion agency said a visiting Belgian delegation had expressed interest in setting up information technology and IT enabled services. At present, Belgian investments range from the manufacture of solid rubber tires, one of Sri Lanka’s single largest export firms, diamond cutting and the manufacture of cigars […]

Dec 13, 2012 (LBO) – Virtusa Corporation, a US listed IT firm with development facilities in Sri Lanka has won a top award for a school management software, which is now being used in 130 countries, the firm said. Its Àkura School Management System (http://akuraschools.org) was recognized by the World Information Technology and Services Alliance […]

Dec 10, 2012 (LBO) – Sri Lanka’s Dialog Axiata said it will acquire a 26 percent stake in Digital Commerce Lanka (Pvt) Ltd, which owns Anything. lk an e-commerce site for 1.59 million US dollars. Dialog said in a stock exchange filing that it also planned to transfer group e-commerce businesses ibuy. lk and tradenet.lk […]

Dec 02, 2012 (LBO) – India’s Trimax IT Infrastructure Services Ltd will build a data centre in at Saki Knowledge and Technology Park in Hambantota in southern Sri Lanka. Sri Lanka’s investment promotion agency will give the firm a 12 year tax holiday. The Hambantota IT park is a state-sponsored venture in which around 100 […]

Nov 28, 2012 (LBO) – A Sri Lanka’s first communications satellite by SupremeSAT, a Sino-Lankan joint venture was launched from China’s Xi Chang launch centre on November 27, the state information office said. The launch of ‘SupremeSAT-1’ at 15.45 hours was successful, an alert from the state information office said. SupremeSAT has said the comsat […]

Nov 23, 2012 (LBO) – Sri Lanka based 24/7 Techies, a online technical support firm catering to micro businesses said it had raised 600,000 dollars from a capital raising event in the United States. 24/7 Techies (247techies.com), is an offshoot of Eureka Technology Partners, an information technology company that provides remote services to larger businesses. […]

Nov 22, 2012 (LBO) – Norway’s stock exchange Oslo Børs, has gone live with trading software from MillenniumIT, a Sri Lanka-based unit of UK’s London Stock Exchange group, the company said. MillenniumIT systems are live in over 30 locations around the World. “Oslo Børs members can now benefit from the high performance and rich functionality […]

Nov 19, 2012 (LBO) – Sri Lanka’s telecom operators would grow on higher spending by subscribers and reduced price competition as the market penetration approaches 90 percent, a rating agency has said. Penetration has already reached 87 percent by the second quarter of 2012, and fixed wireless subscribers were declining, Fitch Ratings said in a […]

Nov 15, 2012 (LBO) – MillenniumIT, a Sri Lanka based unit of the London Stock Exchange has signed a deal to provide Hong Kong Exchanges and Clearing Limited (HKEx) with an order routing platform. HKEx is the holding company of Hong Kong’s stock and futures exchanges and its clearing unit. Millennium IT software has been […]

Nov 14, 2012 (LBO) – Sri Lanka Telecom group, which owns the island’s only wireline network and also has mobile and wireless fixed services, said profits in the September 2012 quarter rose 70 percent to 1. 8 billion rupees from a year earlier. “Consistent Growth in operating profits in 2012 demonstrates our strength, resilience and […]

Nov 08, 2012 (LBO) – Sri Lanka will halve taxes on high-speed broadband services to 10 percent to make the service cheaper in an effort to develop the island’s budding information communications technology industry, President Mahinda Rajapaksa said. Income tax on the ICT sector will be kept at a maximum 16 percent, Rajapaksa, who is […]