Sri Lanka announced Saturday the completion of a US$2.6 billion IMF bailout, but it was seeking fresh loans to support an economy emerging from decades of ethnic war.

Business executives around the world have become much more gloomy about the global economy as the eurozone crisis pounds on, according to a new survey released Tuesday by McKinsey & Co.

Russia's second-largest airline Transaero signed a US$1.7 billion deal Thursday to buy four Airbus A380 jets, becoming the first ex-Soviet region carrier to order the world's biggest passenger jet.

Myanmar has signed a raft of oil exploration deals with foreign companies, state media reported Wednesday, as the reformist government seeks overseas investment to spur economic development.

Weakening economies that roiled markets last year also took their toll on the world's rich, and faster-growing Asia for the first time had more millionaires than North America, according to a study released on Tuesday.

Bangladesh has discovered oil in two old gas fields in the country's northeastern region with an extractable reserve worth US$5.5 billion, the chairman of state-owned Petrobangla said Monday.

The suspension of U.S. sanctions barring investment in Myanmar in response to political reforms in the poor Southeast Asian state opens the door to U.S. firms queuing to scout for business in one of the last frontier markets.

The Electricity Tariff Fixing Commission (ETFC) of Nepal is prepared to hike the retail electricity tariff by an average of 20 percent by mid-July with some conditions for the Nepal Electricity Authority (NEA), officials said.

Two of Asia's biggest stock exchanges are fighting for dominance in the world's hottest new frontier market as investors beat a path to Myanmar following the end of decades of military rule.

As Myanmar prepares for an economic resurgence following the end of decades of military rule, wide-eyed firms from all over Asia are competing for a piece of the potentially lucrative pie.