Business & Economics

Trump vows US intervention to clear Strait of Hormuz shipping ‘logjam’

Asian TribuneMay 4, 2026

By Staff Writer Dubai President Donald Trump has pledged that the United States will take decisive action to free dozens of commercial vessels currently trapped in the Strait of Hormuz, as a maritime standoff threatens to paralyze global energy markets. Speaking from the White House, Mr. Trump stated that the US military and diplomatic corps...

Sri Lanka Treasury: Investigation launched after 2.5 million rupees ‘goes missing’

Asian TribuneMay 4, 2026

By Staff Writer Colombo, Sri Lanka A high-level investigation has been launched by the Sri Lankan Treasury after it was discovered that 2.5 million rupees ($8,300) had allegedly been stolen from its premises. The discrepancy was reportedly uncovered during a routine internal audit and cash reconciliation process at the Treasury’s high-security headquarters in Colombo. Officials...

Sri Lanka inflation climbs to 5.4% as food prices surge

Asian TribuneMay 4, 2026

By Staff Writer Colombo, Sri Lanka Sri Lanka’s headline inflation rate rose to 5.4% in April, according to the latest government data, driven largely by a sharp increase in the cost of food and essential services. The figures, released by the Department of Census and Statistics, show a notable jump from the previous month. The...

Sri Lanka’s solar homeowners face uncertainty over new billing rules

Asian TribuneMay 4, 2026

By Staff Writer Colombo, Sri Lanka Owners of rooftop solar systems in Sri Lanka have expressed alarm over proposed changes to the country’s net-metering and billing structures, which critics claim could discourage the shift toward renewable energy. The Ministry of Power and Energy is reportedly considering a revision of the “Net Accounting” and “Net Plus”...

Musk vs OpenAI: The legal battle for the soul of artificial intelligence

Asian TribuneMay 4, 2026

Elon Musk has escalated his legal feud with OpenAI, the company he co-founded, accusing the tech firm of abandoning its original non-profit mission in favour of a “profit-driven” partnership with Microsoft. In a lawsuit that has sent ripples through Silicon Valley, the billionaire entrepreneur claims that OpenAI has become a “closed-source de facto subsidiary” of...

Tech giants Meta and Microsoft signal massive spending on AI future

Asian TribuneMay 4, 2026

The global race for artificial intelligence dominance has intensified as Meta and Microsoft announced plans to significantly increase their spending on the technology, despite growing investor scrutiny over long-term profitability. In separate quarterly briefings, both companies revealed that the cost of building and maintaining the massive data centres required for AI would continue to rise....

Apple says iPhone 17 ‘most popular ever’ as sales soar

Asian TribuneMay 4, 2026

By Staff Writer California Apple has reported record-breaking demand for its latest smartphone, with the iPhone 17 becoming the most successful launch in the company’s 50-year history. Financial results released on Thursday show that overall sales grew by 17% to $111bn (£81bn) in the first three months of the year. The growth was spearheaded by...

South Korean President Lee Jae-myung Begins Landmark State Visit to India

Asian TribuneApril 21, 2026

South Korean President Lee Jae-myung, accompanied by First Lady Kim Hea-kyung, arrived in New Delhi on April 19, 2026, for a high-profile three-day state visit. This marks the first visit by a South Korean leader to India in over eight years, signaling a significant recalibration of the “Special Strategic Partnership” between the two nations. Key...

Major Leadership Transition at Apple: John Ternus Named Next CEO as Tim Cook Moves to Executive Chairman

Asian TribuneApril 21, 2026

In a landmark announcement on April 20, 2026, Apple Inc. revealed that John Ternus will become the company’s eighth Chief Executive Officer (CEO), succeeding Tim Cook. Cook, who has led the tech giant since 2011, will transition into the role of Executive Chairman of the Board. Key Highlights:

Sri Lankan Rupee Depreciates: US Dollar Selling Rate Surpasses Rs. 320

Asian TribuneApril 21, 2026

According to the official exchange rates released by the Central Bank of Sri Lanka (CBSL) today, April 20, 2026, the selling rate of the US Dollar has surpassed the Rs. 320 mark. This indicates a notable fluctuation in the local currency value against major foreign currencies. Today’s Currency Breakdown: Financial analysts suggest that the rising...