Category: Technology

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 […]

Nov 05, 2012 (LBO) – MillenniumIT, a Sri Lanka based unit of the London Stock Exchange group said its automated trading system (ATS) has replaced a manual open outcry system at the stock exchange in Botswana. MillenniumIT says its software is now live at over 30 customer sites and securities exchanges around the world. Tony […]

Nov 01, 2012 (LBO) – Profits at Dialog Axiata, Sri Lanka’s largest cellco surged 273 percent to 4.7 billion rupees in the September 2012 quarter from a year earlier, partly due to a tax reversal, interim accounts showed. Dialog has opted for a 2.0 percent tax based on turnover at the end of a tax […]

Nov 01, 2012 (LBO) – Dialog Television, a direct-to-home pay television service run by the Sri Lanka’s unit of Malaysia’s Axiata group said subscribers rose 50,000 over the past year to top 250,000 by end September 2012. Revenues had grown 29 percent to 2.2 billion rupees for the nine months ending September 2012, and earnings […]

Oct 24, 2012 (LBO) – Sri Lanka’s East West Properties Plc, which has interests in warehousing and tourism will rent out broadcast towers after it acquired a media firm with access to spectrum. East West Properties and the time funded the project with a loan, according information disclosed in annual reports at the time. East […]

Oct 22, 2012 (LBO) – Software developed by Sri Lanka based MilleniumIT, will be used by the London Metal Exchange (LME) for its real time multi-asset class surveillance system, the unit of the London Stock Exchange Group said. “We are very happy that the London Metal Exchange has chosen Millennium Surveillance as its new surveillance […]

Oct 09, 2012 (LBO) – Fitch Ratings has confirmed an ‘AAA(lka)’ rating with a stable outlook citing support from its Malaysia-based parent and said its stand alone credit profile had improved to ‘AA ‘AA+(lka)’ from ‘AA(lka)’. “Dialog’s standalone credit profile is strong, and has improved between 2010 and 2012, helped by a benign competitive environment […]

Oct 03, 2012 (LBO) – A telecom regulators forum in Sri Lanka’s capital Colombo is looking at ways to create better conditions to foster information technology as broadband coverage takes holds around the world officials said. Lalith Weeratunga, chairman of Telecommunications Regulatory Commission of Sri Lanka said regulator had to strike a balance between regulation […]

Oct 02, 2012 (LBO) – Sri Lanka Telecom, the island’s largest telecom provider says it is providing high speed connections to all sporting venues during the Twenty20 world cricket championships being held in the island. SLT has provided fibre optic links to cricket stadia in Hambantota and Galle in the south, Pallekele in central Sri […]