McDonald to leave Sri Lanka, Chinese economy, Russia hits on Ukraine's gas storage, Evergrande's liquidation, costly breakdown in Morocco.

McDonald's stores close in Sri Lanka after deal with partner ended, lawyer says

• McDonald's has ended an agreement with its local partner in Sri Lanka and all 12 outlets in the country have been closed, an attorney for the U.S. company said on Sunday.

• "The parent company decided to terminate the agreement with the franchisee due to standard issues," said Sanath Wijewardane, an attorney for McDonald's. "They are not in business in the country. They may decide to return with a new franchisee."

• Wijewardane declined to describe the issues but local media reported that McDonald's went to court against Abans over allegations of poor hygiene.

China told it faces 'fork in the road' as officials meet CEOs

• China needs to "reinvent itself" with economic policies to speed resolution of its property market crisis and boost domestic consumption and productivity, the International Monetary Fund's Managing Director Kristalina Georgieva said on Sunday.

• "China faces a fork in the road — rely on the policies that have worked in the past, or reinvent itself for a new era of high-quality growth," Georgieva said in remarks to a meeting of senior Chinese officials and executives from global companies.

• Officials who spoke at the opening of the China Development Forum expressed confidence China would hit its economic targets, including growth of about 5% this year, and pledged further support for companies in strategically important sectors, an area Chinese President Xi Jinping has dubbed "new productive forces."

Russian missiles hit Ukrainian gas storage site; Ukraine ramps up power imports

• An underground gas storage site in Ukraine was attacked on Sunday in the latest wave of Russian missile strikes on power facilities, said Ukraine's state-run Naftogaz energy firm, which added that gas supplies to consumers had not been affected.

• The country's energy ministry and distributors said Ukraine ramped up imports of electricity and halted exports on Sunday after the recent series of Russian attacks, in which top energy producer DTEK lost 50% of its capacity.'

• Naftogaz CEO Oleksiy Chernyshov said equipment was damaged in the strike and repairs were proceeding.

Evergrande's liquidators say company, SJ and Tianji withdraw Chapter 15 applications in US

• Evergrande liquidators said the company, SJ and Tianji filed documents with a U.S. Court on Friday to withdraw Chapter 15 bankruptcy protection applications, the Chinese property company said in a filing to the Hong Kong Stock Exchange.

• Evergrande liquidators said they will make new applications under Chapter 15 of Title 11 of the U.S. bankruptcy code if necessary and appropriate, the filing said.

Breakdown at Saudi solar plant in Morocco costs firm $47 million

• Saudi Arabian renewable energy utility ACWA Power International on Sunday reported a storage breakdown at one of the solar plants it operates in Morocco that will cost the company an estimated $47 million.

• The 150-megawatt plant, part of the Noor Ouarzazate solar complex, will be forced to remain idle until November 2024, the company said on the website of the Saudi Stock exchange.

• The breakdown highlights the recurrence of technical issues and storage breakdowns at the concentrating solar power (CSP) plant. Technical problems stopped all output there for a year from summer 2021, two sources told Reuters last month.