Skip to content
Search

Latest Stories

Sri Lanka blasts to affect country's tourism industry

IN THE wake of serial bomb blasts in Sri Lanka on Easter Sunday, several airlines and travel booking firms hae agreed to waive cancellation charges for people scheduled to travel to the island nation imminently.

"In light of the recent events in Colombo, we are providing full fee waiver on rescheduling/cancellation for all flights to/from Colombo for travel scheduled till April 24, 2019. Our prayers are with the affected," India's domestic airline IndiGo said in a tweet.


Air India, too, made a similar announcement on Twitter.

"In view of the situation in #Srilanka #AirIndia has waived off all charges for rescheduling/cancellation of bookings on its flts to/from Colombo for travel till April 24, 2019," the airline tweeted.

Sunday's suicide bombings, which killed at least 290 people and wounded 500, is expected to cast a pall over Sri Lanka's tourism. India is one of the main markets for Sri Lanka, accounting for close to 20 per cent of its 2.3 million tourist inflow in 2018, reported Business Today.

In 2019, the island nation expected total Indian tourist arrivals to cross one million mark.

"The attacks will not only impact already weak economic activity (real GDP growth was at a 17-year low of 3.2 percent in 2018), but also the country’s relatively vulnerable external liquidity position," Citi Asia Economics said in a note that warned the hardest blow would fall on tourism, reported Reuters.

Several countries have issued travel advisories asking their citizens to exercise caution while visiting Sri Lanka.

The US State Department said in a revised travel advisory of the danger of "terrorist groups" plotting more attacks.

Targets could include tourist locations, transport hubs, shopping malls, hotels, places of worship and airports.

Japan and Australia have also cautioned citizens planning to visit Sri Lanka.

More For You

Modi & Trump

Donald Trump and Narendra Modi shake hands as they attend a joint press conference at the White House on February 13, 2025.

Reuters

India, US to discuss trade issues after tariff hike

INDIA and the United States will hold trade discussions in New Delhi on Tuesday, officials and Indian media reports said, as the two countries look to resolve a tariff dispute.

India currently faces high US tariffs on most of its exports and has not yet been able to reach a trade deal that would ease the pressure.

Keep ReadingShow less
Piyush Goyal

Piyush Goyal recalled that in February, Narendra Modi and Donald Trump had instructed their trade ministers to conclude the first phase of the bilateral trade agreement (BTA) by November 2025. (Photo: Getty Images)

Getty Images

Trade talks with US moving forward positively, says Indian minister Goyal

INDIA’s commerce and industry minister Piyush Goyal on Thursday said that negotiations on the proposed trade agreement between India and the United States, which began in March, are progressing in a positive atmosphere and both sides are satisfied with the discussions.

He recalled that in February, Indian prime minister Narendra Modi and US president Donald Trump had instructed their trade ministers to conclude the first phase of the bilateral trade agreement (BTA) by November 2025.

Keep ReadingShow less
Baiju Bhatt

At 40, Bhatt is the only person of Indian origin in this group, which includes figures such as Meta’s Mark Zuckerberg. (Photo: Getty Images)

Baiju Bhatt named among youngest billionaires in US by Forbes

INDIAN-AMERICAN entrepreneur Baiju Bhatt, co-founder of the commission-free trading platform Robinhood, has been named among the 10 youngest billionaires in the United States in the 2025 Forbes 400 list.

At 40, Bhatt is the only person of Indian origin in this group, which includes figures such as Meta’s Mark Zuckerberg. Forbes estimates his net worth at around USD 6–7 billion (£4.4–5.1 billion), primarily from his roughly 6 per cent ownership in Robinhood.

Keep ReadingShow less
UK business district
The Canary Wharf business district including global financial institutions in London. (Photo: Getty Images)
Getty Images

Economy shows no growth in July amid political turbulence

UK's ECONOMY showed no growth in July, according to official data released on Friday, adding to a difficult week for prime minister Keir Starmer’s government.

The Office for National Statistics (ONS) said gross domestic product was flat in July, following a 0.4 per cent rise in June.

Keep ReadingShow less
India’s IT sector

India’s $283 billion IT industry, which contributes more than 7 per cent to the country’s GDP, has for over three decades provided services to major clients including Apple, American Express, Cisco, Citigroup, FedEx and Home Depot.

iStock

India’s IT sector faces uncertainty as US proposes 25 per cent outsourcing tax

INDIA’s IT sector is facing uncertainty as US lawmakers consider a 25 per cent tax on companies using foreign outsourcing services.

Analysts and lawyers said the proposal has led to customers delaying or re-negotiating contracts, raising concerns in India, the world’s largest outsourcing hub.

Keep ReadingShow less