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IMF, World Bank Begin Push To Swap Debt Relief For Green Projects

(AFP): The idea of forgiving debt held by poor countries in exchange for “green” investments gained ground this week during the spring meetings of the IMF and World Bank, with…

Indian mission in Sri Lanka denies Trincomalee oil tanks deal off

The Indian High Commission in Colombo has rejected Sri Lankan energy minister’s claim that the deal between the two countries on the 99 World War II-era Trincomalee oil tanks leased…

Bitcoin tops $50,000 as it wins more mainstream acceptance

(Reuters) – Bitcoin rose above $50,000 on Tuesday for the first time, adding steam to a rally fuelled by signs that the world’s biggest cryptocurrency is gaining acceptance among mainstream…

PUCSL Nod To Award 300MW Kerawalapitiya LNG Power Plant Contract to Lakdhanavi

The Public Utilities Commission of Sri Lanka (PUCSL), the electricity sector regulator approved the power purchase agreement to build 300 MW Kerawalapitiya Liquid Natural Gas power plant in Sri Lanka…

Renewables overtook fossil fuels in EU electricity mix in 2020

(Reuters) – Renewables overtook fossil fuels as the European Union’s main source of electricity for the first time in 2020 as new projects came online and coal-power shrank, a report…

Second phase of GRI’s $100M Tyre Project to Be Commissioned in December

Global Rubber Industries (GRI) last week broke ground and laid the foundation stone for the second phase of a $ 100 million project with a new manufacturing facility in Badalgama,…

Sri Lanka to ban maize-based alcohol and ethanol production

President Gotabaya Rajapaksa has ordered the Excise Department Chief to issue a gazette notification banning the use of maize (corn) for the production of alcohol and ethanol. The Commissioner is…

Global electricity generation from coal is set to drop by the largest amount on record in 2020

Global coal generation is estimated to fall by 5% in 2020 to 2012 levels, marking the largest annual decrease on record, the International Energy Agency (IEA) estimated in a new…

Ceylon Graphite commences trading on the OTCQB Venture Market

Vancouver- based Ceylon Graphite Corp. announces that its common shares have been approved for trading on the OTCQB Venture Market in the United States from 3rd of December this year. Ceylon…

Sri Lanka’s President Calls Private Sector to make bold investment decisions

Sri Lanka’s President Gotabaya Rajapaksa called the country’s private sector to make bold investments moving away from conservative and low-risk strategies to live up to its reputation as the engine…