Shortages leave bankrupt Sri Lanka's hospitals empty Parvaiz Bukhari, Agence France-PressePosted at Jul 26 12:08 PM An unprecedented economic crisis has dealt a body blow to Sri Lanka's free and universal healthcare system. Read more »
Smart subs in Sri Lanka to get free data, SMS, calls ABS-CBN NewsPosted at Jul 21 05:13 PM Filipinos in Sri Lanka will get free access to data, SMS and calls from Smart to keep them connected with their loved ones during the time of crisis. Read more »
Sri Lanka: crisis timeline Agence France-Presse Posted at Jul 13 01:36 PM Sri Lanka is mired in a political and economic crisis, and on Wednesday, the country's president fled after protesters stormed his residence. Read more »
US urges Sri Lanka leaders to 'work quickly' to address 'discontent' Agence France-PressePosted at Jul 10 10:20 AM The United States on Sunday urged Sri Lankan leaders to act quickly to seek long-term solutions after the president was chased from his residence and announced his resignation. Read more »
Bankrupt Sri Lanka asks Putin for fuel, tourists Agence France-Presse Posted at Jul 06 08:22 PM Sri Lanka has asked Russia to provide fuel and resume tourist flights to help the country weather its unprecedented economic crisis. Read more »
'This is the reality': Sri Lanka admits bankruptcy Agence France-PressePosted at Jul 05 05:05 PM "We are now participating in the negotiations as a bankrupt country," Wickremesinghe said. Read more »
Bankrupt Sri Lanka's inflation jumps beyond 50 pct Agence France-Presse Posted at Jul 01 01:09 PM Sri Lanka's inflation hit a 9th consecutive record in June, official data showed, after the IMF asked the bankrupt nation to rein in corruption. Read more »
Bankrupt Sri Lanka seeks discounted Russian oil Amal Jayasinghe, Agence France-PressePosted at Jun 27 10:27 AM Cash-strapped Sri Lanka announced sending ministers to Russia and Qatar to secure cheap oil after government said it had all but run out of fuel. Read more »
Revlon files for bankrupcy Agence France-PressePosted at Jun 17 02:09 PM US cosmetics giant Revlon has filed for bankruptcy after years of stiff competition from rivals focused on online sales and supply chain problems. Read more »
Philippine Airlines exits US bankruptcy Agence France-PresseUpdated as of Jan 01 01:46 PM PAL’s court-approved reorganization plan includes a $2 billion debt reduction and additional liquidity of $505 million from its main shareholder. Read more »
US court OKs PAL recovery plan after bankruptcy filing ABS-CBN NewsPosted at Dec 18 11:18 AM In a statement, PAL said this would allow them to move forward with their Chapter 11 process that they filed in September. Read more »
Pasay court recognizes PAL's US Chapter 11 filing ABS-CBN NewsPosted at Oct 29 09:08 AM PAL Holdings Inc on Friday said a Pasay City court granted Philippine Airlines' petition for recognition of its Chapter 11 filing in the US. Read more »
Lucio Tan throwing $505 million lifeline to PAL ABS-CBN NewsUpdated as of Oct 27 06:33 PM Tycoon Lucio Tan’s Buona Sorte Holdings will infuse $255 million in fresh capital into PAL, and extend the ailing airline a $250 million loan. Read more »
No 'Squid Game': South Korea's real-life debt trap Cynthia Kim, ReutersPosted at Oct 22 08:04 AM Many small business owners in South Korea recognize themselves in the cash-strapped characters of the wildly popular Netflix drama 'Squid Game.' Read more »
PAL secures US court nod to access $505 million financing ABS-CBN NewsPosted at Oct 01 05:11 PM Philippine Airlines has received a US court approval to access $505 million in debtor-in-possession financing, it said said Friday. Read more »
PAL bats for more international arrivals ABS-CBN NewsUpdated as of Sep 21 06:26 PM PAL urged the government to relax the mandatory quarantine rules for fully vaccinated travelers and to remove the cap for international arrivals. Read more »
US bankruptcy court allows PAL $20 million loan ABS-CBN NewsPosted at Sep 13 04:16 PM PAL was granted by a US Bankruptcy Court access to a $20 million loan facility amid its Chapter 11 filing, its operator PAL Holdings said Monday. Read more »
PAL says 'business as usual' after Chapter 11 ABS-CBN NewsPosted at Sep 06 02:37 PM PAL, Asia’s oldest airline, said it is business as usual for the company's employees, customers, suppliers, commercial partners, and local communities. Read more »
PAL says undergoing 'restructuring' amid reports it would file for Chapter 11 in US ABS-CBN NewsUpdated as of May 11 11:19 PM PAL said on Tuesday it is working on a comprehensive restructuring plan following reports that it is seeking court protection from creditors in the United States. Read more »
Japan's coronavirus-linked bankruptcies hit monthly record Kyodo NewsPosted at Feb 26 09:53 PM The number of coronavirus pandemic-induced corporate bankruptcies in Japan reached a monthly record of 126 in February, with the restaurant and apparel industries hardest hit, a survey by a credit research company showed Friday. Read more »