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World Business Report: 05/11/2015 22:32 GMT: Sharm el-Sheikh Firms Fear Backlash After Crash

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Sharm el-Sheikh Welcomes Visitors; Picture Credit: Getty Images

05/11/2015 22:32 GMT

05/11/2015 22:32 GMT: Sharm el-Sheikh Firms Fear Backlash After Crash

Sharm el-Sheikh Firms Fear Backlash After Crash

BBC World Service - World Business Report, Sharm el-Sheikh Firms Fear Backlash After Crash

Egypt's tourism industry voices concern about the aftermath of the air crash on business.

Companies operating in the popular resort of Sharm el-Sheikh are worried tourists may stay away as a result of the crash and Randgold's profits are hit by the falling gold price.

Egyptian businesses dependent on the tourist trade fear they could be badly hit in the aftermath of Saturday's plane crash. The Russian Airbus A321, flying from Sharm el-Sheikh in Egypt to St Petersburg in Russia, disappeared from radar screens 22 minutes after take-off. When the wreckage was discovered all 224 people on board were found to have died. Britain subsequently suspended flights to and from the resort amid security concerns. We talk to the boss of a diving company in Sharm el-Sheikh who is worried tourists could be deterred from visiting the resort. Also we hear from representatives of the Egyptian tourism industry in London to promote the country as a destination and ask an aviation expert about the security issues.

The mining company Randgold has reported a sharp drop in profits as result of the falling gold price. We discuss the challenge of cheaper gold with the company's chief executive, Mark Bristow.

The world's first floating windfarm has just been given the green light. The Norwegian energy firm Statoil will build it in the North Sea, off the coast of Peterhead in Scotland. Supporters reckon floating turbines will help make wind power a more economically attractive option because 
they are easier to install in deeper water, further out to sea where it is windier. Statoil's executive vice president, Irene Rummelhoff, gives us an insight into the project.

And the BBC's Simon Jack takes a tour of a maximum-security data centre to hear how Ireland became the cloud capital of Europe.
Picture: Sharm el-Sheikh welcomes visitors; Picture credit: Getty Images

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