Category: Technology

Oct 20, 2009 (LBO) – Sri Lanka’s Tigo celco said it will expand its services and coverage following its acquisition by Etisalat, the United Arab Emirates-based telecom firm. Tigo Sri Lanka chief executive Dumindra Ratnayaka said Etisalat had acquired 100 percent of the Tigo Sri Lanka operation from Millicom International. “We have been seeking this […]

ABU DHABI, October 18, 2009 (AFP) – Gulf telecoms giant Etisalat said on Sunday that net profit dropped 4.7 percent in the nine months to September after a one-time gain had boosted year earlier figures. Net profit fell to 6.85 billion dirhams (1.87 billion dollars) from 7.19 billion dirhams (1.96 billion dollars) a year ago, […]

Oct 19, 2009 (LBO) – Fitch Ratings said the entry of Emirates Telecommunications Corporation (Etisalat) into Sri Lanka can further delay any prospects for recovery in the Sri Lankan telecom operators’ profitability.Millicom International Cellular SA last week sold its fully-owned subsidiary in Sri Lanka, Tigo, to Etisalat in a competitive bidding process. Tigo is the […]

Oct 18, 2009 (LBO) – Etisalat, an Abu Dhabi based telco that bought Sri Lanka’s Tigo from Millicom International Cellular, says it will invest more in the firm to increase the mobile operator’s market share.Tigo, South Asia’s first mobile phone operator, now has a market share of 21 percent in Sri Lanka and had 2.25 […]

Oct 16, 2009 (LBO) – Millicom International Cellular will sell its Sri Lanka unit for 155 million US dollars to Etisalat, a Middle Eastern telco, with the sale expected to be completed by October 20, the company said.Millicom has decided to exit its Asian operations in Cambodia and Laos as well as Sri Lanka to […]

Oct 14, 2009 (LBO) – Fitch Ratings has lifted the outlook on Sri Lanka Telecom’s ‘B+’ foreign currency rating to ‘stable’ from ‘negative’ following the upgrade of the outlook of the sovereign rating. “Despite pressure on profitability due to intense competition and weak macroeconomic conditions in Sri Lanka, SLT’s cash generation continues to be strong.” […]

Oct 07, 2009 (LBO) – Sri Lanka’s wireless access provider Lanka Bell said it has reduced call rates to India. The company pays them 50 cents for every minute of incoming IDD calls regardless of the duration, country of origin or the number of calls received for a day. Lanka Bell is the largest CDMA […]

Oct 06, 2009 (LBO) – Control of IsmartTimex, a Sri Lanka based outsourcing firm has been acquired by India’s Aegis Limited, a unit of the Essar group, but a minority 20 percent stake will be held by local partners, the company said. Aegis says it has operations in India, Philippines, the US, Costa Rica, Kenya, […]

Oct 02, 2009 (LBO) – Sri Lanka’s rural economy can take a slice of India’s 12 billion dollar Business Process Outsourcing (BPO) industry by catering to the bottom of the pyramid customers who look at costs over optimum service, a foreign investor said. “India does about 12 billion dollars of knowledge base process work; 10 […]

LONDON, October 1, 2009 (AFP) – Britain’s London Stock Exchange announced Thursday that it is in exclusive talks to buy pan-European electronic trading platform Turquoise.“London Stock Exchange Group plc announces that it has entered into exclusive discussions with Turquoise Trading Limited, which may lead to a transaction,” the LSE said in a brief statement. “A […]

Sept 23, 2009 (LBO) – A South Asian broadband communication conference and expo to be held in Sri Lanka in October with speakers from the global industry will focus on investing, and cost and revenue models in the fast growing region.It will also cover how Next Generation Technology fits into the region, home to large […]

NEW DELHI, Sept 18 (Asia Pulse) – Luxembourg-based Millicom has rejected Indian telecom PSU BSNL’s bid to acquire its operations in Sri Lanka, but India’s largest private mobile operator Bharti Airtel has entered the ring. Bharti Airtel, which is in talks with South African telecom firm MTN for a possible deal to create a US$23 […]