More than 40 energy assets across nine countries in West Asia have been “severely or very severely” damaged by the war in West Asia, International Energy Agency Executive Director Fatih Birol said, potentially prolonging disruptions to global supply chains after the conflict ends. The damage means it will take some time for the oil fields,…
The country’s leading app-based platforms, Uber and PickMe, have urged the government for support to keep Sri Lanka moving in light of the latest fuel constraints. Highlighting the critical role played by ride-hailing and delivery platforms in helping people access transport, food and essential services, the platforms have jointly asked for higher fuel quotas for…
Reuters – Share markets slid in Asia on Monday while U.S. bond yields hit eight-month peaks as the United States and Iran traded escalating threats and Israel planned for “weeks” more fighting, sending oil prices on another roller-coaster ride. Iran said on Sunday it would strike the energy and water systems of its Gulf neighbours…
The Sri Lanka Bottled Water Association (SLBWA) has requested President Anura Kumara Dissanayake to revoke or temporarily suspend the gazette introducing maximum retail prices (MRPs) for bottled drinking water, considering cost-related pressures faced by the industry. In a letter addressed to the President, the Minister of Industries, and the Consumer Affairs Authority (CAA), the Association…
National Development Bank PLC (NDB) commemorated raising LKR. 16 bn with its first ever issuance of BASEL III compliant GSS+ (Green, Social, Sustainable & Sustainability Linked) bonds and the country’s largest issuance of GSS+ bonds to date by way of a market opening ceremony conducted on the trading floor of the Colombo Stock Exchange (CSE)…
One Mile at a Time – It’s being reported that the government of Sri Lanka has initiated preliminary discussions with both Emirates and Qatar Airways, with the intent of offering one of Sri Lanka’s airports as an alternative hub for the foreseeable future. This doesn’t center around Colombo Bandaranaike International Airport (CMB), the country’s largest airport. Instead,…
The International Monetary Fund (IMF) says Sri Lanka’s economic reform programme has made “very significant progress,” with strong growth, low inflation and improving external indicators, despite recent shocks. Speaking at a press briefing on March 19, IMF Communications Director Julie Kozack noted that the programme has remained on track even after the impact of Cyclone…
Reuters – Tesla, opens new tab is looking to buy equipment worth $2.9 billion for manufacturing solar panels and cells from Chinese suppliers including Suzhou Maxwell Technologies, opens new tab, two people familiar with the matter said, as CEO Elon Musk aims to add 100 gigawatts of solar capacity in the United States. Musk said…
Reuters – Oil prices fell on Friday as leading European nations and Japan offered to join efforts to secure safe passage for ships through the Strait of Hormuz and the U.S. outlined moves to boost oil supply. Looking to curb soaring oil prices, U.S. Treasury Secretary Scott Bessent said the U.S. may soon remove sanctions from Iranian…
Government to Prioritise Export Sector, Intervene to Overcome Challenges – President President Anura Kumara Dissanayake emphasised that the Government will take all necessary measures and intervene to the fullest extent to overcome the challenges currently facing the export sector, treating it as a national priority. The President made these remarks while attending a discussion with…
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