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Sri Lanka rejects immediate LNG imports by India due to infrastructure problems
The energy minister of Sri Lanka said that the country has no immediate plans for importing liquefied gas from India as the infrastructure, including storage facilities, is still being built. India announced last summer that it would provide LNG to Sri Lankan power plants, and also work on a cross-border energy connection including a pipeline for petroleum and a power grid link. Despite the lack of progress in the LNG supply, there is still a long way to go. "First, we have to build the storage facility. The construction has not yet begun," said Sri Lankan energy minister Kumara Jayakody on the sidelines of Confederation of Indian Industry’s energy summit, held in New Delhi. He said that Sri Lanka has not yet finalised the LNG contract with India. After the completion of construction, it will take at least 3 years for the storage infrastructure to be completed. Imports can then begin. He said that while discussions about building storage took place under the former government, no contracts had been signed. Jayakody stated, "We are evaluating earlier content and determining the location. We will also be evaluating loan and pricing issues." Last year, the state-run Indian firm Petronet LNG signed a contract to supply LNG for power plants of Sri Lankan engineering company LTL Holdings in Colombo. The Minister said that both countries had formed a joint team to prepare a prospective report on the work planned for developing a trans-border transmission system between southern India and the north of the island. (Reporting and Editing by Shri Navaratnam).
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Wall Street Journal, September 23,
These are the most popular stories from the Wall Street Journal. These stories have not been verified and we cannot vouch their accuracy. Disney announced on Monday that it will return Jimmy Kimmel's late-night show to television on Tuesday. This comes six days after the suspension of his show and threat of a regulatory investigation were imposed over comments made by Kimmel about the assassination of conservative activist Charlie Kirk. The companies announced that Nvidia will invest up to 100 billion dollars in the artificial intelligence startup OpenAI as part of a new deal. Uzbekistan Airways and Boeing signed a deal worth over $8 billion. Uzbekistan Airways intends to purchase up to 22 Boeing 787 Dreamliners. Oracle has named Clay Magouyrk as its co-CEO, replacing Safra Caz. She was instrumental in defining the cloud strategy of the company and launching it into the AI boom, with large contract wins. - Locomotive parts maker Wabtec has reached a $4.2 billion agreement with Kazakhstan under which the Pennsylvania-headquartered company will provide the central Asian country with 300 locomotives, the U.S. Department of Commerce said. Spirit Airlines announced on Monday that it will be preparing to lay off one-third its flight attendants following its second bankruptcy filing in a single year. The carrier is struggling with mounting losses and dwindling funds.
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New York Times Business News - September 23,
These are the most popular stories from the New York Times' business pages. These stories have not been verified and we cannot vouch for the accuracy of these reports. Disney announced that "Jimmy Kimmel Live", the talk show host, will be back on air Tuesday. The suspension came after threats from the chairman of the Federal Communications Commission regarding comments made by the host about the assassination Charlie Kirk. Nvidia is investing up to $100 billion into OpenAI, and will supply the company with data center chip. This marks a partnership between two of artificial intelligence's most prominent players. Under a new agreement, the software giant Oracle will monitor the changes and updates made to TikTok’s powerful recommendation techniqe under an effort to avoid a ban on the service. Spirit Airlines will furlough a third of its flight attendants following its second bankruptcy filing in one year. The carrier is struggling with mounting losses and dwindling funds. (Compiled by Bengaluru Newsroom)
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Danish police claim that the drones that closed Copenhagen Airport were flown by a 'capable operator.
Danish police confirmed on Tuesday that the drones which shut down the main airport of Denmark on Monday were flown by a "capable operator". They added that no suspects have been identified. After drones were spotted in their airspace on Monday night, Copenhagen and Oslo airports, which are the busiest in Scandinavia, were closed for several hours. This left tens thousands of passengers stranded, as flights were diverted. Jens Jespersen, Danish Police Chief Superintendent Jens Jespersen, told reporters Tuesday that the drones spotted in Copenhagen were operated by a "capable operator". Jespersen added that it was still too early to determine if the incidents from Denmark and Norway are linked. Officials said that Copenhagen Airport was shut for four hours after two or three large drones flew in the immediate vicinity. The Oslo Airport, meanwhile, was closed for three hours following two sightings. Jespersen stated that the drones were coming from different directions in Denmark, and turning on their lights before finally disappearing after a few hours. (Reporting and editing by Terje Solsvik, Stine Jacobsen)
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Bloomberg News reports that Turkey is planning to buy Lockheed Martin fighters and Boeing aircraft.
Bloomberg News, citing sources familiar with the situation, reported that Turkish President Tayyip Erdoan plans to purchase hundreds of Boeing aircraft and Lockheed Martin Jets while pursuing over $10 billion worth of local production agreements. Reports added that the deals would be subject to approval from U.S. president Donald Trump. Could not confirm the report immediately. The White House and Boeing did not respond immediately to requests for comments outside of regular business hours. The Turkish Defense Ministry refused to comment on Bloomberg. The Turkish Defense Ministry could not be reached by Bloomberg for immediate comment. This development occurs ahead of the scheduled meeting between Donald Trump, and Erdogan, at the White House in September. Trump is expecting to sign a number of military and trade agreements during the meeting. These include a large-scale purchase of Boeing aircrafts, an important F-16 Deal and the continuation of F-35 negotiations with Turkey. Erdogan confirmed Monday that Turkey would negotiate the purchase of F-35 jet fighters during his meetings with President Obama. The Trump administration was angered by the Turkish government's purchase of Russian S-400 missile defences in 2019. Washington cancelled a planned F-35 fighter plane sale and removed Ankara as a joint production partner. The Turkish government then agreed to buy F-16 jets. (Reporting by Anusha Shah in Bengaluru; Editing by Nivedita Bhattacharjee)
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China receives six cargoes from Russian LNG project sanctioned
According to Kpler ship tracking data and LSEG, a sixth tanker carrying liquefied gas from Russia sanctioned Arctic LNG 2 Project discharged at China Beihai Terminal on Tuesday. Arctic Mulan delivered more than 75,000 cubic metres of LNG to the southern Guangxi Port, according to LSEG data. This is its second delivery since August 28, 2008. The tanker was previously loaded in Kamchatka, the Russian Far East. This port has handled only cargoes for Novatek's Arctic LNG 2 Project. According to LSEG, and Kpler, another vessel, the Arctic Vostok that was also loaded in Kamchatka on Tuesday, passed southeast of China's Hainan Island, although tracking data did not confirm docking in Beihai. According to OpenSanctions, the tanker's owner is Lule One Services Inc. and its manager Ocean Speedstar Solutions. Both are registered in India. Could not get in touch immediately with the owners or companies that manage these vessels. Kpler data indicated that the vessel was located in the Gulf of Tonkin, where the Beihai Terminal is located on 16 September. Neither provider, however, shows that the vessel docked in Beihai. Two additional tankers have been sanctioned and are in the process of being delivered. La Perouse has arrived in the Indian Ocean after passing Cape Town. The ship is carrying 150,000 cubic meters LNG from Gydan, a northern Siberian port. The Arctic Metagaz is carrying more than 133,000 cu m of LNG from Murmansk. According to Kpler data, it has passed Japan and continues south. Arctic LNG 2, owned 60% by Russia's Novatek was expected to be one of the largest LNG plants in Russia, with an annual target output of 19,8 million metric tonnes. However, Western sanctions have cast doubt on its future.
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Maguire: Global coal markets are jolted by stronger East Asian imports
In August, global shipments of thermal coke - used to generate electricity - reached their highest level since the end of 2024 on the backs of strong import orders from China, Japan and South Korea. After nine consecutive months of declining monthly coal exports year-over-year, there were expectations that 2025 could be the first full-year contraction for global coal trade since 2010. The increased regional interest in coal imports is due to a combination of lower domestic coal production in China, the world's largest coal consumer, and higher factory activity in East Asia over the past few months. Continued restrictions on coal mining by China, combined with a higher demand for electricity as we head into winter, could lead to a steady increase in the overall imports of coal for the remainder of 2025. This would scupper hopes that coal flows will continue to fall. A new downturn in the manufacturing sector, combined with milder temperatures in Asia in 2026, could reduce overall coal consumption and imports. This would keep coal export volumes for 2025 on track to fall. Here are some key data points that coal traders should be tracking to determine if the recent increase in imports is a sign of a change in trend from the previous months or a temporary blip on the global decline in coal export volumes. Key Markets According to Kpler data, total thermal coal exports were 85.34 millions metric tons in August, the first time since December last year that this number was above 81. The total for August was 6.4 million tons higher than the previous month. This means that thermal coal shipments have increased two months in a row after a series of monthly reductions starting late 2024. August's reading was the first month-on-month increase since October 2024. This could have an impact on the market if further gains are made in the future. China, South Korea, and Japan led the increase in global coal imports from the previous month to August. Kpler data show that China (up by 5.3 millions tons), Japan (+0.6 million tonnes) and South Korea (+1.8 million tons), collectively increased their purchases from 47.9 to 47.9 Mt in August. China, South Korea, and Japan's combined monthly imports increased by 19% from the previous month, and caused regional coal markets to tighten. LSEG data shows that the average coal export price from Newcastle in Australia reached a five-month high of $111 per ton, compared with around $106 between June and July. Key Indicators To track the future import potential of coal, traders will need to closely monitor coal mine production in China. A constant pushback against excessive capacity has resulted in a reduction in coal mine output. China's latest monthly production estimate put the country's coal output at 390.5 millions tons. This marked a decline year-over-year but followed a roughly 3-percent increase in total coal output in 2025. Trackers of the coal market will need to keep tabs on China's massive industrial economy in order to gauge its overall energy and coke needs. China's factory output in August grew at its fastest pace in five month on the back of a surge in new orders. The continued expansion of the industrial sector will lead to a greater demand for coal and other energy sources, as well as a higher production of key ingredients. The increased industrial activity in China will likely also spillover into Japan and South Korea's economies, as they have closely linked supply chains for parts and goods. Finaly, the weather conditions in East Asia during the last months of 2025 are also likely to play a significant role in the regional appetite for coal imports. Forecasts for the period of early 2026 indicate that temperatures will be slightly higher than long-term averages in Japan, South Korea, and China, which should lead to a lower-than-normal demand for heat. These forecasts will change as the coldest months of year approach. If extended cold snaps occur, coal demand is likely to increase. In East Asia, the coal-fired electricity generation reaches its annual peak around November and Decemeber when the cold weather increases demand for heating. In China, the mine production caps may make it difficult for utilities to increase their inventory levels this year. Power firms may boost their coal imports to meet their inventory requirements if the curbs on new mine production persist this winter. This could help maintain recent upward momentum in global coal order. The increased competition between China and Japan for coal may encourage buyers from Japan, South Korea, and other countries to increase their coal import orders. This could lead to an even greater increase in coal orders. These are the opinions of the columnist, an author for. You like this article? Check it out Open Interest The new global financial commentary source (ROI) is your go-to for all the latest news and information. ROI provides data-driven, thought-provoking analysis on everything from soybeans to swap rates. The markets are changing faster than ever. ROI can help you keep up. Follow ROI on You can find us on LinkedIn.
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Malaysia reduces estimated savings from fuel subsidy changes to $950 million per year, according to a report
Malaysia could save as much as 4 billion ringgit (953.74 millions) annually by adjusting subsidies for the popular RON95 fuel. This was reported by the state-run news agency Bernama, citing Malaysia's Finance Minister. The government initially aimed to save up to 8 billion Ringgit by removing petrol subsidies from the highest-earning citizens of the country. However, it has backed down on this proposal due to public concern about the rising cost of living. Anwar Ibrahim, the Prime Minister, announced the revised plan on Monday. He said that the government will continue to subsidise fuel for citizens but that foreigners would have to pay more. Amir Hamzah Azizan, second finance minister, said that the move would generate savings between 2.5 billion and 4 billion ringgit per year, assuming crude prices of $75 per barrel. Bernama reported this on Monday. He was quoted saying that the savings would be used to fund public assistance programs, such as cash aids for those in need.
TUI confirms its annual targets and sees a positive start to the winter travel season
LONDON, September 23 - Europe’s largest tour operator TUI confirmed on Tuesday its annual and medium-term financial goals after steady demand, a positive winter start, and a competitive market despite heatwaves, conflict in the Middle East, and a highly competitive environment.
TUI increased its annual profit forecast in August, as it experienced particular success in both its Hotels and Resorts and Cruises businesses.
The German travel agency also reported a positive start for the winter season 2025/2026.
TUI's latest update revealed that airline bookings for summer fell 2% on an annual basis, with the German market experiencing a drop of 5%.
Summer travel is a crucial time for many airlines and tourism businesses. Many operators make up for earlier losses in the year during the holiday season.
The company stated that bookings for destinations such as Turkey and Egypt, along with the Canary Islands, continue to be strong.
TUI will release its results for 2025 on December 10.
(source: Reuters)