- Internet Archive reels from 'catastrophic' cyberattack, data breach
- Wall Street stocks retreat from records on US inflation data
- Israel strikes central Beirut, killing 22
- Solar storm could impact US hurricane recovery efforts: agency
- Delta eyes Election Day travel pullback as profits climb
- Florida battered by hurricane, floods but spared 'worst-case scenario'
- UK's William and Kate in first joint public engagement since cancer treatment
- Over 200 women in legal talks with Harrods over Fayed abuse claims
- A very stiff breeze: BBC says sorry for 20,000 kph wind forecast
- Musk finally unveiling his long-promised robotaxi
- London's Frieze art fair goes potty for ceramics
- US, Europe stocks fall on US inflation data
- US consumer inflation eases to 2.4% in September
- Hurricane Milton tornadoes kill four in Florida amid rescue efforts
- South Korea's Han Kang wins literature Nobel
- Ikea posts fall in annual sales after lowering prices
- Stock markets diverge, oil gains after China rebounds
- World can't 'waste time' trading climate change blame: COP29 hosts
- South Korean same-sex couples make push for marriage equality
- Mumbai declares day of mourning for Indian industrialist Ratan Tata
- 7-Eleven owner restructures to fight takeover
- Sri Lanka recovering faster than expected: World Bank
- Hong Kong, Shanghai rally as most markets track Wall St record
- Uniqlo owner reports record annual earnings
- Hong Kong, Shanghai rally as markets track Wall St record
- Indonesia biomass drive threatens key forests: report
- Mumbai mourns Indian industrialist Ratan Tata
- China opens $71 bn 'swap facility' to boost markets
- Asian markets track Wall St record as Hong Kong, Shanghai stabilise
- 'Denying my potential': women at Japan's top university call out gender imbalance
- China's central bank says opens up $70.6 bn in liquidity to boost market
- Youth facing unprecedented wave of violence, UN envoy warns
- 'A casino in every kitchen': Brazil's online gambling craze
- Nobel chemistry winner sees engineered proteins solving tough problems
- Discord seen as online home for renegades
- US forecasts severe solar storm starting Thursday
- Ratan Tata: Indian mogul who built a global powerhouse
- One dead as storm Kirk tears through Spain, Portugal, France
- Indian business titan Ratan Tata dead at 86
- Fed minutes highlight divisions over rate cut decision
- Steve McQueen debuts new WWII film at London festival
- Nobel winners hope protein work will spur 'incredible' breakthroughs
- What are proteins again? Nobel-winning chemistry explained
- AI steps into science limelight with Nobel wins
- Overshooting 1.5C risks 'irreversible' climate impact: study
- Demis Hassabis, from chess prodigy to Nobel-winning AI pioneer
- Global stocks diverge as Chinese shares tumble
- Time runs out in Florida to flee Hurricane Milton
- Chad issues warning ahead of more devastating floods
- Creator's death no bar to new 'Dragon Ball' products
India's troubled Adani invests in bankrupt Sri Lanka
Cash-strapped Sri Lanka on Thursday announced its first major foreign investment since it declared bankruptcy, approving a $442 million wind power project by India's scandal-hit Adani group.
Sri Lanka's Board of Investment said Adani Green Energy, part of the business empire of controversial Indian tycoon Gautam Adani, will set up two wind farms in the island's north.
The total investment will reach $442 million and the two plants will be supplying power to the national grid "by 2025", the BOI said in a statement.
The project comes after Sri Lanka awarded Adani a $700 million strategic port terminal project in Colombo in 2021.
That concession was widely seen as a bid to address New Delhi's growing concern over China's expanding influence in the region -- Adani had been nominated as the contractor by the Indian government.
The firm is building a 1.4-kilometre, 20-metre deep jetty right next to a Chinese-operated terminal at Colombo harbour, the only deep-sea container port between Dubai and Singapore.
Energy minister Kanchana Wijesekera said he met with Adani officials in Colombo on Wednesday to finalise the wind farm project.
"We expect the power plants to be commissioned by December 2024," he said.
The development comes after a US investment firm last month accused Adani's companies of accounting fraud and price manipulation, triggering a rout that saw $120 billion wiped off the group's market capitalisation.
Adani denies the allegations.
A Chinese firm was awarded a $12 million Asian Development Bank-funded project to build three wind farms on islands in the Palk Strait between India and Sri Lanka in 2019, but it was cancelled after objections from New Delhi.
China is Sri Lanka's largest official lender, accounting for 52 percent of bilateral credit. Colombo is awaiting financial assurances from Beijing to unlock a $2.9 billion bailout from the International Monetary Fund.
M.Anderson--CPN