Economy

Iran-Israel tensions: Oil prices fall after Iranian attack escalates tensions

Published

2 years ago

April 15, 2024

Oil prices dropped in early Asian trading following Iran’s retaliatory strike on Israel over the weekend.

Brent crude, a significant gauge for global oil prices, dipped but remained close to $90 per barrel on Monday morning. Prices had surged in anticipation of Iran’s actions, with Brent crude reaching nearly a six-month high last week.

Israeli Defence Minister Yoav Gallant emphasized that the conflict with Iran is ongoing. “The oil market currently seems unconcerned about any additional threat to supply,” noted energy analyst Vandana Hari.

While Brent crude might dip below $90, a substantial decrease is unlikely as traders continue to monitor the risks stemming from conflicts in Gaza and Ukraine, Hari added.

Analysts highlighted Israel’s response to the attack as crucial for global markets in the coming days and weeks. Peter McGuire of trading platform XM.com anticipated volatility in the energy market and suggested that oil prices would soar if Israel responded forcefully to Iran’s actions.

In the Asia-Pacific region, share markets declined on Monday as investors assessed the impact of the attack. The Hang Seng in Hong Kong, Japan’s Nikkei 225, and South Korea’s Kospi all saw decreases, while China’s Shanghai Stock Exchange Composite rose by more than 1%.

Economy

Sri Lanka’s tourist arrivals exceed 840,000 so far this year

Published

16 hours ago

April 27, 2026

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The Sri Lanka Tourism Development Authority (SLTDA) stated that the number of tourist arrivals in Sri Lanka so far has crossed the 840,000 mark.

Accordingly, a total of 840,411 tourists have visited the country between January 1 and April 22, 2026.

The highest number of arrivals has been recorded from India, with 176,465 tourists, the SLTDA noted.

A significant number of visitors have also arrived from countries including the United Kingdom, Russia, Germany, and China.

Meanwhile, the SLTDA stated that a total of 99,777 tourists arrived in the country between April 1 and April 22, 2026.

However, the data indicate that daily tourist arrivals in April have declined significantly compared to previous months.

Economy

Haputale restaurant fined Rs. 1 million forover pricing bottled water

Published

1 day ago

April 27, 2026

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A restaurant in Haputale has been fined Rs. 1 million for selling a bottle of drinking water above the maximum retail price.

The fine was imposed by the Bandarawela Magistrate’s Court on April 24 following a raid conducted by the Consumer Affairs Authority Badulla District Office.

The raid targeted a restaurant owned by a private company on Welimada Road in Haputale. Authorities found that the establishment had sold bottled water at a price exceeding the approved limit.

The court subsequently imposed a fine of Rs. 1,000,000 on the hotel.

Economy

Sri Lanka to Launch First Digital Motor Insurance Card from May 1

Published

3 days ago

April 25, 2026

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Sri Lanka’s Ministry of Finance, Planning, and Economic Development has announced that the country’s first digital motor insurance card will be introduced from May 1.

The Ministry stated that this initiative represents a significant step toward advancing national digitalization while also enhancing public safety.

By replacing physical plastic cards, the move is also expected to contribute to environmental sustainability across the country.

The Ministry added that the digital motor insurance card will be officially launched in collaboration with the Insurance Regulatory Commission of Sri Lanka, the Insurance Association of Sri Lanka, and the Sri Lanka Police.