Chinese trade negotiators suddenly canceled a visit to meet U.S. farmers after they wrapped up trade talks in Washington this week.Marketsread more
President Trump also said he is "not looking for a partial deal" with Beijing, moving away from his suggestion last week that he would consider an "interim deal."Politicsread more
Progress on trade talks will determine how far market will move above new highs.Trader Talk with Bob Pisaniread more
For investors taking a breather from the chaos in August, buckle up as the market is about go crazy again, Goldman Sachs warned.Marketsread more
The Patriots released Antonio Brown only 11 days after signing the wide receiver.Sportsread more
The Wall Street Journal's report came as a top Ukraine official said President Donald Trump "is looking" for Ukraine officials to investigate business dealings of Biden's son...Politicsread more
A tour bus carrying Chinese-speaking tourists crashed near a national park in southern Utah, killing at least four people and critically injuring up to 15 others, authorities...U.S. Newsread more
Gun maker Colt announced Thursday that it will halt its production of AR-15 rifles for civilian sales, but the news might not be as exciting for gun control advocates as it...Guns and Weaponsread more
As thousands of people across the world participate in the Global Climate Strike, several Democratic presidential candidates have shared how they will take aggressive action...Scienceread more
With "tariff man" President Trump waging a tariff war and Democratic candidates pushing against big international deals, free trade has become politically homeless, writes...2020 Electionsread more
Canadian trade union Unifor said roughly 4,500 of its members have been temporarily laid off because of the GM strike so far.Autosread more
Sri Lanka's economy has shown a "fair bit of resilience," with its key tourism sector bouncing back following the devastating Easter Sunday bombings, said a senior executive — despite predictions that growth would be hit this year.
The South Asian country's economy is in "decent shape" fundamentally, said Gihan Cooray, deputy chairman and group finance director at John Keells Group, Sri Lanka's second largest listed company by market capitalization.
"The economy has shown a fair bit of resilience post the incident in April. We've seen sort of consumer sentiment being relatively strong ... the fundamentals of the economy are in decent shape," he told CNBC's "Squawk Box" on Tuesday.
In April, bomb blasts ripped through churches and hotels in Sri Lanka on Easter Sunday, killing more than 200 people and injuring more than 400.
Analysts as well as the Sri Lankan government had predicted the bombings would hit the country's growth this year. Sri Lankan State Minister of Finance Eran Wickramaratne had said 2019 growth "would be around 3%" —lower than projections by institutions such as the International Monetary Fund and the Asian Development Bank.
The IMF's 2019 growth forecast for Sri Lanka was 3.5%, while that of the ADB was 3.6%.
In May, a Reuters poll showed that the country's 2019 gross domestic product (GDP) growth could hit an 18-year-low following the bombings, falling to 2.5%. The attacks weighed on tourism, foreign investment, and business activity in the country.
Since then, Sri Lanka's central bank has cut its rates twice in a bid to lift its struggling economy in the wake of the attacks.
Sri Lanka's key tourism sector is seeing "quite a good recovery" after the attacks, said Cooray.
"Month on month we're seeing quite a strong rise in the arrivals and ... we've been monitoring the forward bookings compared to, say, the same period last year. We're happy to see that the trend of forward bookings is actually quite positive," he said. "We're seeing almost the same level of bookings from the period September to March 2020, so the recovery momentum is certainly quite strong, given the incident that happened."
Tourism accounted for about 5% of the Sri Lankan economy in December 2018. In that month, tourism revenue stood at $475.2 million.
The upcoming presidential elections this year could also lead to more good news for Sri Lanka's economy, Cooray said.
"Post the election, with further clarity on certain policies and large ticket investments, I think that could be a further catalyst for growth going forward," he said.
Sri Lanka's Hambantota International Port, located in Colombo, could attract more foreign investments as well, Cooray added.
"There's 15,000 acres of land that has been earmarked for development of industries surrounding the port, and I think that is the opportunity that is there for the private sector in Sri Lanka to capitalize ... it's something that could be used to attract (foreign direct investment) into the country," said Cooray. His company is a big player in the development of the port, a partnership between the Sri Lanka Ports Authority and China Merchant Port Holdings.