Business

SLT-MOBITEL Launches First Ever Fully-Managed True SD WAN Services Embracing Intent Based Networking Approach for Enterprise Customers

Published

5 years ago

2021/08/1

SLT-MOBITEL, the National ICT solutions and Mobile Services Provider launched their first ever SLTMobitel SDWAN Service as a fully managed service for large and medium enterprises and government institutions. SLT-MOBITEL undertook this endeavour in keeping with their mission to support enterprises and to encourage timely transformation across the digital arena, as the country’s leading Multiprotocol Label Switching (MPLS) service provider.

Businesses view the cloud as a key part of their strategy and innovation. The larger the business, the more users, devices, and things consume applications. As the pace of business increases, this results in a highly complex and dynamic network. The preferred method of connecting users to applications is shifting from dedicated MPLS connectivity, which is a fast data carrying technique to access data centres, and less connectivity to using the internet as a result. Branch Internet Edge connectivity becomes business critical for cloud movement. These influences create opportunities for increased exposure to cyber threats. It also means that there is an opportunity for inconsistent user experiences as application access is no longer reliant only on private networks. Complexity in adapting to changes in business needs and technical realities increases as well. This is where SLTMobitel SDWAN becomes a core component of modernization, secure application delivery and resilient business capabilities. SLTMobitel SDWAN services built on Zero trust model, which is essential for BFSI sector and large enterprise customers as underlay connectivity will be open to Private, and Public connectivity domain.

Commenting on the initiative CEO of SLT, Mr. Kiththi Perera said, “SLT-MOBITEL decided to bring this concept to fruition for the ease of our customers. Within the digital journey of enterprises across various verticals, we recognized that movement of applications to cloud was becoming a growing necessity. Being the country’s national telecommunication service provider, running an extended program connecting all the enterprises via fibre last mile, we believed it was our responsibility to address these growing demands from our customers, individuals and businesses alike. We look forward to our customers reaping the maximum benefits with the best possible network options and the digitization of the WAN network.”

The current method of using wide area network (WAN) is to connect users from a head office or branch to applications hosted on servers in data centres. The MPLS approach helps ensure reliable connectivity along with security and internet edge via head office. Today, with the ongoing technological changes making waves in the digital world, applications are fast moving into the cloud and users access these applications by way of a diverse range of devices.

Today, a much-discussed topic is alignment towards digital transformation and all enterprise verticals; from banking to retail, are looking to evolve and transform within this digital landscape with the aim of increasing their productivity, achieving less costs and revolutionizing customer experiences. When business verticals ultimately move towards a transformation, the network would require to undergo a modification in a way where it would align with the ultimate need of the business. Therefore, the infrastructure would need to work according to the business intent.

Sharing his thoughts on the launch of SLTMobitel SDWAN, Chief Enterprise and Wholesale Officer of SLT, Mr. Janaka Abeysinghe stated, “SLT- MOBITEL Enterprise has connected small and large-scale enterprises with robust MPLS for more than two decades. We have continuously built reliable and scalable networks across the island and have extended multiple submarine cables in the global arena. Partnering with Cisco, the leader in the routing landscape for more than 30 years, creates the strongest SLTMobitel SDWAN service ever to steer past current methods of connectivity and think beyond, to support Enterprises. With the introduction of SLTMobitel SDWAN by partnering with Cisco, SLT-MOBITEL currently acts as an enabler to help with the digital transformation of enterprises in Sri Lanka, and provide comprehensive next generation connectivity services. In future, we hope to expand these services to global customers as well.”

SLTMobitel SDWAN was created with a focus on providing customers with an extended range of benefits by operating WAN for various business intents. SLTMobitel SDWAN is an overlay technology running on different underlay networks with a capacity to centrally manage Edge Devices and overlay networks. This service will bring a level of effortless management, better visibility, better application experience, optimized cloud connectivity and a more secure WAN for private and public connectivity, among a host of other benefits to its users.

This is where SLT-MOBITEL Enterprise utilizes Cisco’s Intent based Networking (IBN) approach for SLTMobitel SDWAN services with the aim of building infrastructure that works in tandem with the business goals and to help businesses to address key business and technological challenges that they have been facing and still face today. Since the goal is for the network to continuously adjust network performance and help assure the desired business outcomes, SLT-MOBITEL’s strategy was to deliver an IBN across different domains. IBN would focus on helping to translate the business intent into a policy and build that policy to guarantee that marketing uses and applications, placed on a secure segment to receive the highest priority service.

The main features of SLTMobitel SDWAN powered by Cisco include visibility, security and performance. For an all-encompassing SLTMobitel SDWAN solution, enterprise customers will also benefit from growing WAN with less operational expenditure (OPEX), greater business agility and responsiveness, increased application performance across the WAN, assure business intent with advanced application visibility and control and robust edge-to-edge security and micro-segmentation. Amongst the many features that SLTMobitel SDWAN also offers, is the Cloud OnRamp for public Cloud services such as Microsoft Azure, AWS and Google Services which can deliver optimal performance, user experience, and security.

SLT-MOBITEL’s main service building blocks will include consultation, design and migration. The company’s Enterprise will provide end-to-end SLTMobitel SDWAN services along with connectivity, controller, virtual and physical edges and offer a fully- managed SLTMobitel SDWAN service on top of the existing MPLS with in-house subject knowledge.

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Business

Oil at $150 will trigger global recession, says boss of financial giant BlackRock

Published

12 hours ago

2026/03/25

Priyan

Larry Fink was speaking exclusively to BBC business editor Simon Jack (BBC)

If the price of oil hits $150 a barrel it will trigger a global recession, the boss of US financial giant BlackRock has told the BBC.

Larry Fink, who leads the world’s largest asset manager, said if Iran “remains a threat” and oil prices stay high it will have “profound implications” for the world economy.

In a wide-ranging exclusive interview, he also denied there was an AI bubble, although he said the new technology meant too many people were pursuing university degrees and not enough doing technical training.

BlackRock is a financial colossus, controlling assets worth $14 trillion (£10.5tn), and is one of the biggest investors in many of the world’s largest companies.

Its size and spread gives Fink – who is one of the eight co-founders of the business, which started in 1988 – a unique insight into the health of the global economy.

The conflict in the Middle East has triggered wild moves on financial markets as people try to assess what will happen to energy costs.

For Fink, it is too early to determine the ultimate scale and outcome of the conflict, but he believes it will be one of two extreme scenarios.

In one, if the conflict is settled and Iran becomes a country that can be accepted again by the international community then the price of oil could fall back to below where it stood before the war.

But if not, he says, then there could be “years of above $100, closer to $150 oil, which has profound implications in the economy” and an outcome of “a probably stark and steep recession”.

The surge in energy costs has led to some in the UK to argue that it should be focusing more on producing its own oil and gas.

On Tuesday, industry body Offshore Energies UK said that without more domestic production, the country risks becoming reliant on imports “at a time of rising global instability”.

Fink says countries need to be pragmatic about their energy mix by using all sources available to them, but providing cheap energy is key to driving growth and raising living standards.

“Rising energy prices is a very regressive tax. It affects the poor more than the wealthy.”

While the UK already has some solar and wind power and hydrocarbons, if oil prices were to rise to $150 for three or four years, “you would have so many countries moving so rapidly towards solar and maybe even wind”.

Countries should not depend on just one source, he says.

“Use what you have unquestionably, but also aggressively move towards alternative sources too.”

Some analysts have suggested that there are some echoes of the run-up to the 2007-08 financial crisis in the markets at the moment.

Energy prices are surging and some have flagged signs of cracks in the financial system. BlackRock itself is one of several firms to have limited withdrawals by nervous investors from private credit funds.

But Fink is adamant there is no chance of a repeat of the financial trauma seen in 2007-08, when several banks around the world collapsed or had to be rescued, as he believes financial institutions today are more secure.

“I don’t see any similarities at all,” he says. “Zero.”

The issues affecting some funds account for a small fraction of the overall market and investment from institutions remains strong, he says.

Fink also rejects suggestions that the surge in investment in AI, which has seen billions of dollars invested in the new technology, has been overblown.

“I do not believe we have a bubble at all,” he says.

“Could we have one or two failures in AI? Sure, that I’m fine with.”

Last year, BlackRock was part of a consortium that bought one of the world’s largest data centre providers, Aligned Data Centres, in a $40bn deal.

“I believe there’s a race for technology dominance. I believe that if we do not invest more, China wins. I believe it’s mandatory that we are aggressively building out our AI capabilities.”

The biggest issue he feels that is hindering the expansion of AI in the US and Europe is the cost of energy.

While China is investing hugely in solar and nuclear power, in Europe “I just see a lot of talk and no action”, he says, while in the US “as much as we are energy independent, we better start focusing on solar… because we need to have cheap, inexpensive power to move into AI”.

Earlier this week, in his annual letter to shareholders, Fink said the boom in artificial intelligence risked widening inequality, with only a small number of firms and investors seeing the benefits.

However, speaking to the BBC, he emphasised AI was going to create an “enormous amount of jobs”.

He said that in his letter he had written about how many jobs would be created “related to electricians and welders and plumbers”.

In contrast, there might not be as much demand for some office jobs as AI evolves and this could lead to a rethink about what roles are needed as “society is changing and evolving”.

“We really put judgement on so many jobs and so many people who probably should not have gone into banking or media or law, [who] probably should have been a great worker with their hands, and we need to now rebalance that approach,” he says.

In the US, he says, after World War Two “we built the foundation of education, and we said to all the young people, go to college, go to college, go to college. And we probably overdid it”.

“We need to balance that out, and we need to be proud that… a career can be just as strong in these fields of plumbing and electricians.”

(BBC)

Business

Mahindra ldeal Finance’s Rs 1 Bn debut debenture issue oversubscribed on day 1

Published

14 hours ago

2026/03/25

Sahan Weerasooriya

Director/CEO, Mufaddal Choonia

Mahindra Ideal Finance Limited (MIFL) has announced the successful conclusion of its debut Rs 1 Billion debenture issue, which was oversubscribed on the first day of opening, marking a significant capital market milestone for one of Sri Lanka’s fastest-growing licensed Non-Banking Financial Institutions.

The Issue comprised up to Ten Million (10,000,000) Tier 2, Listed, Rated, Unsecured, Subordinated, Redeemable Debentures at a par value of LKR 100 per Debenture, raising up to Sri Lanka Rupees One Thousand Million (LKR 1,000,000,000), with a five-year tenure maturing in 2031.

Commenting on the outcome, MIFL Managing Director/CEO, Mufaddal Choonia said the proceeds of the Company’s inaugural debenture issue will be deployed to strengthen lending capacity across its core business segments, including vehicle leasing, gold loans, SME loans, and business loans.

“The success of our first debenture issue is testament of our performance so far and speaks of the confidence that investors have placed in our future growth story. The strong market response is also the best validation we can secure from the investor community on the strong fundamentals that underpin our business. We will honor that trust by deploying these funds to further provide accessible credit to enrich the lives of our customers and for the communities we serve.”

The capital raise also strengthens the Company’s Tier 2 capital base in compliance with the Central Bank of Sri Lanka’s Capital Adequacy Requirements.

The Debentures were offered in two structures — Type A, at a fixed rate of 12.00% per annum payable annually, and Type B, at a floating rate of the 364-Day Treasury Bill rate plus 3.50% per annum payable semi-annually.

The Issue carried a credit rating of A (lka) from Fitch Ratings Lanka Limited, with MIFL holding an entity rating of AA-(lka) with a Stable Outlook. The Issue was managed by NDB Investment Bank Limited, with Bank of Ceylon serving as Joint Placement Agent. (MIFL)

Business

SEC and CSE strengthen role of auditors of Watchlist Companies

Published

14 hours ago

2026/03/25

Sahan Weerasooriya

From Left to right: Kassapa Weerasekara, Ms. Manuri Weerasinghe and Ms. Nilupa Perera

The Securities and Exchange Commission of Sri Lanka (SEC) and the Colombo Stock Exchange (CSE) jointly organized an awareness session recently, for auditors of companies which are currently on the CSE Watchlist. The session focused on enhancing awareness of enforcement actions and timelines, reducing prolonged Watchlist durations, and fostering a more coordinated regulatory approach among regulators, auditors, and listed companies.

Addressing the session, the Chairman of the SEC, Senior Prof. D.B.P.H. Dissabandara highlighted the core professional virtues of an auditor drawing from his own career beginnings, “At the heart of every auditor’s role lies three virtues: integrity, objectivity and confidentiality.” He reminded the gathering, that while an auditor may formally be recognized as a supplementary service provider under the SEC Act, their true value runs far deeper. Every time a listed company submits its financial statements, it is the auditor’s opinion that gives investors the confidence to trust those numbers. In that sense, auditors are not just ticking a regulatory box, they are the ones holding the line on transparency.

Senior Prof. D.B.P.H.
Dissabandara

Further, Professor Dissabandara drew attention to the current Watchlist situation, noting that while the inclusion of certain companies on the Watchlist is an appropriate regulatory measure, their prolonged presence on the Watchlist may send adverse signals to investors. He called for a structured connected approach involving auditors and listed company management to ensure incremental progress towards resolving Watchlist triggers, particularly those arising from going concern issues and the non-submission of financial statements.

The Head of Listed Entity Compliance at the CSE, Kassapa Weerasekara delivered a presentation focused on enforcement actions that can lead to securities being transferred to the watchlist. Weerasekara reminded the gathering “If companies take the right steps and obtain independent verification on the resolution of all matters giving rise to Modified Opinion and Emphasis of Matter on Going Concern, their securities can be fully reinstated.” He closed by emphasizing that the process is designed to give companies a fair and structured opportunity to correct course.