Sri Lanka

Energy Markets

Sri Lankan shares end higher as financials, consumer discretionary gain

Sri Lankan shares ended greater on Monday, assisted by gains in financials and customer discretionary stocks. * The CSE All-Share index settled 0.30% higher at 11,479. * Sri Lanka is positive about reaching an agreement quickly with bondholders to restructure about $12 billion in financial obligation, a top authorities said on Monday, a big action that will assist the island nation emerge from its worst monetary crisis in decades. * Ceylinco Insurance Coverage PLC and Lion Brewery (Ceylon). PLC were the top gainers on the CSE All Share, rising. 14.4% and 3.8%, respectively. * Trading volume on the CSE All-Share...

Pollution

China's emissions, performance targets under danger after falling short in 2023

China is falling short on crucial targets for dealing with climatewarming emissions, and analysts stated Beijing's reliability in global climate talks might be at danger unless it enhances its efforts to get back on track. The Chinese government has actually seldom missed targets in the past. Now, driven mainly by energy security issues, it has shown little political will to deal with the emissions gap, experts said. China's National Development and Reform Commission (NDRC), a. planning firm, guaranteed recently to redouble efforts in. energy conservation and carbon reduction this year after it. fell short of expectations in 2023. Analysts say...

Fossil Fuels

Brazil's Lula calls meeting on the future of Petrobras CEO, sources say

President Luiz Inacio Lula da Silva called a conference on Sunday night with three cabinet ministers that could pick whether to change the chief executive of Brazil's staterun oil business Petrobras Jean Paul Prates, 2 sources told . The ministers of Finance, Fernando Haddad, of Mines and Energy, Alexandre Silveira, and Lula's chief of staff, Rui Costa, were summoned to the meeting at the governmental house, the Alvorada Palace, according to the sources who asked to remain confidential. The meeting happens after a week of speculation that Prates would be changed. On Thursday, federal government sources stated the resignation of...

Fossil Fuels

Sri Lanka minister says Sinopec to start deal with refinery by June

The world's biggest refiner, China's Sinopec, plans to begin deal with a. refinery in Sri Lanka by June, the power minister said on. Thursday, advancing a job allocated as the biggest. investment in the crisishit island country. Sri Lanka is seeking to draw in financial investment in the fight to. stabilise its economy and return to growth following a monetary. crisis brought on by a severe shortage of dollars in 2022 that led. the economy to agreement 2.3% last year. Authorities of Sinopec Overseas Financial Investment Holding are. visiting Colombo for talks with Sri Lankan authorities. The authorities suggested that...

Mining

Loss of Palestinian employees at Israeli building websites leaves hole on both sides

A. buzz saw gnashed against metal pipelines in one corner of a. spacious warehouse being integrated in the foot hills of Jerusalem. Far on the other side of the dim hall, 2 employees grapple with. a pit of incomplete floor covering. All the rest is void. Just 25 employees now work on the three-story building, where. 6 months earlier they numbered 125. The missing employees are among some 200,000 Palestinians who. used to commute daily from the West Bank, along with 18,500 from. Gaza, all now locked out of Israel given that the start of the Gaza. war over security...

Mining

Sri Lankan shares end three-day losing streak on gains in customer staples, industrials

Sri Lankan shares closed greater on Thursday, snapping 3 straight sessions of losses, helped by gains in customer staples and commercial stocks. * The CSE All Share index settled 0.4% greater at 12,396.90. * Lion Brewery (Ceylon) and C T Holdings were the leading gainers on the index, up 6.6% and 10.6%,. respectively. * Sri Lanka governmental elections will be held in between. Sept. 17 and Oct. 16, the island country's Election Commission. stated on Thursday. * Trading volume on the CSE All Share index grew to 140.5. million shares from 124.3 million shares in the previous. session. * The...

Mineral Resources

Loss of Palestinian employees at Israeli building sites leaves hole on both sides

A. buzz saw gnashed against metal pipes in one corner of a. spacious storage facility being built in the foot hills of Jerusalem. Far on the other side of the dim hall, two workers grapple with. a pit of unfinished flooring. All the rest is void. Simply 25 employees now toil on the three-story building, where. six months earlier they numbered 125. The missing out on workers are among some 200,000 Palestinians who. utilized to commute daily from the West Bank, along with 18,500 from. Gaza, all now locked out of Israel because the start of the Gaza. war over...