Tourism is one of the fastest growing industries in the world and Asia is one of the hottest destinations. Though it generates sizable economic effects, there is a growing recognition that tourism is a double-edged sword. For example, large numbers o

Omani Oil and Gas Minister Dr. Mohammed Hamed Al Rumhy has reiterated Oman Oil Company’s firm interest to take part in the Hambantota oil refinery project which was announced this March. This was communicated to ministers Malik Sam

Union Bank of Colombo PLC pulled off some modest performance for the first quarter in 2019 amid lackluster economic conditions, the interim financial accounts released to the Colombo Stock Exchange showed yesterday.

(Colombo) AFP: Sri Lankan authorities have arrested or killed all the jihadists responsible for Easter suicide bombings, but the island still faces the threat of “global terrorism,” the Prime Minister said yesterday.

Sri Lanka is likely to award Rs.464 million global publicity campaign to J. Walter Thompson (JWT) to revive the country’s tourism brand by, which has been adversely impacted by Easter Sunday attacks, Mirror Business learns.

The Sweden-based global asset management company, Tundra Fonder’s Tundra Sustainable Frontier Fund in its April update said the Colombo bourse has hit its lowest levels since the end of 2009, following the Easter Sunday attacks that killed over 250

Last week, Sri Lanka Tourism chief Kishu Gomes vent his frustration when he saw that committee after committee was being appointed by the President and Prime Minister as if they were having a mini contest to look into how Sri Lanka’s tourism indust

The Carson Cumberbatch group has indicated that the major shareholders of its four plantation companies have no intention of diluting their ownership to comply with the minimum public float rules of the Colombo Stock Exchange (CSE).

(Colombo) REUTERS: The Sri Lankan rupee fell for an eighth straight session yesterday to a near six-week low on dollar demand from banks, a day after clashes between two sectarian groups dented sentiment.

(Oslo) AFP: Norwegian telecom operator Telenor said yesterday it has entered into talks with Malaysian telecoms group Axiata about a potential merger of the companies’ Asian operations.

(Colombo) REUTERS: Sri Lanka President Maithripala Sirisena said on Saturday the security forces would “eradicate terrorism” following the devastating suicide attacks on Easter Sunday and restore stability before a presidential election due by ye

Sri Lanka Tourism chief Kishu Gomes expressed his confidence on the revival of the country’s tourism industry in less than 13 months, in the aftermath of the Easter Sunday bombings and is optimistic that it will revert back to growth mode in two mo

The Kingsbury, one of the five-star hotels in Colombo that was attacked on Easter Sunday, has installed baggage and personnel scanners at its premises to ensure the safety of the hotel’s patrons. The hotel is also protected by the state security.

(Launceston, Australia) REUTERS: China’s ambitious Belt and Road Initiative (BRI) is one of those vast programmes that should be positive for global commodities, but finding any concrete proof of increased demand is proving far more elusive.

On Easter Sunday 2019, Islamist suicide bombers targeted three Christian churches and three hotels in Sri Lanka, killing over 250 people. The so-called Islamic State (IS) claimed responsibility but two little-known local groups, called the Jammiyathu

Terrorism is not an obvious subject for economic analysis. The greatest cost comes in the form of lives lost and injured. However, terror attacks also aim to disrupt economic life and how far they succeed needs to be assessed and evaluated.

Sierra Cables PLC last week reiterated on the plan it originally hatched to get two of its subsidiaries now in a quagmire back on their feet, as part of its revival efforts. The directors at the largest cable manufacturer in Sri Lanka said they had

Sri Lanka will consider a tax amnesty programme for the tourism industry in a bid to help companies recover from the Easter Sunday terrorist attacks that killed more than 250 people, Finance Minister Mangala Samaraweera had told Bloomberg Television.

A  Sri  Lankan Catholic prays on the road in front of St. Anthony’s Shrine, where an explosion took place during mass on Easter Sunday, in Colombo. Masses in the churches of Archdiocese of Colombo were not held yesterday due to security concerns

(Karachi) REUTERS: Pakistan on Saturday appointed International Monetary Fund (IMF) economist Reza Baqir as its new Central Bank governor, as the South Asian nation seeks to finalise bailout negotiations with the Fund to avert an economic crisis. The

Sri Lanka’s private sector has expressed strong opposition to the controversial tariff hike proposed by the Sri Lanka Ports Authority (SLPA). Premier private sector business chamber, the

REUTERS: Sri Lanka’s US$4.4 billion tourism industry is reeling from cancellations as travellers shun the sun and sand Indian Ocean Island after multiple suicide bombings that killed over 250 people two weeks ago.

The government has agreed only for a one-year moratorium to support the hotel industry during its recovery period in the aftermath of Easter Sunday bombings, despite the hoteliers’ request for a two-

Sri Lankan Special Task Force (STF) soldiers patrol along a road in Colombo yesterday, after a series of bomb blasts targeting luxury hotels near Colombo’s main business district and churches on Easter Sunday. Islamist extremists in Sri Lanka are b

HONG KONG (AFP) - Asian markets were mixed heading into the weekend yesterday with energy firms again taking a hit from a plunge in oil prices, while investors look ahead to the release of key US jobs data later in the day.

(REUTERS) - Tesla Inc yesterday raised the size of its planned share offering to 3.1 million shares, priced at US$ 243 apiece, and said Chief Executive Officer Elon Musk would now buy stock worth up to US$ 25 million (£19.2 million), more than doubl

The 7th Session of the UNCTAD Multi-Year Expert Meeting on Trade, Services and Development convened in Geneva from 1 to 2 May 2019, under the chairmanship of Ambassador A.L.A. Azeez, Sri Lanka’s Permanent Representative to the UN in Geneva. Intera

Prime Minister Ranil Wickremesinghe, as the first step of relaxing the travel advisories issued by several countries to their citizen against visiting Sri Lanka, has agreed to arrange a security briefing next week for foreign and lo

FRANKFURT AM MAIN (AFP) - New car registrations in Germany fell back in April, official data showed yesterday, in a sign the vital industry is still grappling with tougher emissions tests and a broader economic slowdown.