default | ABS-CBN News

Dennis Uy firm says to 'immediately resolve' issue with CIAC

ABS-CBN News
Updated as of Jul 25 01:06 PM

Dennis Uy's Udenna Corp through another subsidiary on Monday said its unit Clark Global City Corp (CGCC) and the Global Gateway Development Corp (GGDC) did not fail to make repayment of any bank debt or interest. Read more »

China bond defaults hit $20-B as property sector on edge

Iris Ouyang, South China Morning Post
Posted at Jul 19 01:07 PM

The value of bond defaults in China in 2022 has already more than doubled the full-year total from last year as the debt crisis hits the $2.7 trillion property market. Read more »

Shop for daily essentials while sharing with others

Unilever
Posted at Jul 07 03:43 PM

Shopping while giving back to others provides a great sense of fulfillment. Read more »

Bankrupt Sri Lanka's inflation jumps beyond 50 percent

Agence France-Presse
Posted at Jul 06 10:44 AM

Sri Lanka's inflation hit 54.6 percent a day after the IMF asked the bankrupt nation to rein in galloping prices and corruption. Read more »

Moody's says Russia defaulted on debt

Agence France-Presse
Posted at Jun 28 04:49 PM

Moody's has confirmed that Russia defaulted on its foreign debt for the first time in a century after bond holders did not receive $100 million in interest payments. Read more »

Russia denies it defaulted on its debt

Agence France-Presse
Posted at Jun 27 07:08 PM

Russia last defaulted on its foreign currency debt in 1918, when Bolshevik leader Vladimir Lenin refused to recognize the obligations of the deposed Tsar's regime. Read more »

Sri Lanka parliament shuts early after petrol runs out

Agence France-Presse
Posted at Jun 23 08:26 PM

Parliamentary officials said lawmakers decided not to hold sessions on Thursday and Friday to avoid unnecessary petrol use. Read more »

Sri Lanka tells govt workers to grow food as crisis looms

Agence France-Presse
Posted at Jun 14 05:58 PM

Crisis-hit Sri Lanka is asking civil servants to take an extra day off each week to grow crops in their backyards in a bid to forestall a looming food shortage. Read more »

Sri Lanka urgently seeks $6-B to keep economy afloat

Agence France-Presse
Posted at Jun 07 05:56 PM

Months of daily blackouts, long queues for petrol and record inflation have made daily life a misery in the South Asian island nation of 22 million people. Read more »

Bankrupt Sri Lanka hikes taxes

Agence France-Presse
Posted at May 31 09:24 PM

Cash-strapped Sri Lanka on Tuesday announced steep, across-the-board tax hikes to shore up revenue as the country suffers its worst economic downturn and seeks an IMF bailout. Read more »

Russia being pushed towards default

Juliette Vilrobe and Florian Soenen, Agence France-Presse
Posted at May 27 02:48 PM

The tightening noose of Western sanctions over the invasion of Ukraine is inexorably drawing Russia towards a default. Read more »

US says ending Russia debt payment exemption

Agence France-Presse
Posted at May 25 08:19 AM

The United States will end an exemption allowing Moscow to pay foreign debt held by American investors with funds held in Russia, the US Treasury said, a move that could push Vladimir Putin's country closer to default. Read more »

OWWA says working with DFA to assist Filipinos in bankrupt Sri Lanka

ABS-CBN News
Posted at May 24 11:11 AM

The Overseas Workers Welfare Administration is working with the Foreign Affairs department to extend assistance to overseas Filipino workers who are in Sri Lanka. Read more »

Ilang Pinoy apektado ng economic crisis sa Sri Lanka

Reiniel Pawid, ABS-CBN News
Posted at May 23 01:46 PM

Apektado na ang ilang Pilipino sa Sri Lanka sa kinahaharap na krisis sa ekonomiya ng nasabing bansa. Read more »

Sri Lanka economy will 'collapse' if no new govt in 2 days: central bank

Agence France-Presse
Posted at May 11 08:59 PM

Sri Lanka's economy will "collapse beyond redemption" unless a new government is appointed within two days to restore political stability, the central bank chief said Wednesday. Read more »

Temporary aid can offset inflation hit to families: IMF official

Heather Scott and Delphine Touitou, Agence France-Presse
Posted at Apr 20 09:42 AM

Faced with surging inflation that is hitting poor families especially hard, which has sparked unrest in some countries, policymakers should take immediate steps to offset the pain with targeted and temporary relief, IMF chief economist Pierre-Olivier Gourinchas said. Read more »

Sri Lanka defaults on entire $51 billion external debt

Agence France-Presse
Posted at Apr 12 03:19 PM

Crisis-stricken Sri Lanka Tuesday announced it would default on its $51 billion external debt pending a bailout from the International Monetary Fund. Read more »

Russia says will 'go to court' if declared in default

Agence France-Presse
Posted at Apr 11 09:02 PM

Russia last week paid its foreign dollar debt in rubles after it was unable to process the payment in foreign currency due to sanctions over Ukraine. Read more »

Russia's creditors await funds as Moscow says debt payment made

Karin Strohecker and Sujata Rao, Reuters
Posted at Mar 17 08:34 PM

Russia was due to pay $117 million in coupon payments on Wednesday on two dollar-denominated sovereign bonds. Read more »

Russia default on debt is 'imminent': Fitch

Agence France-Presse
Posted at Mar 09 08:16 AM

Ratings agency Fitch on Tuesday again downgraded Russia's sovereign debt rating farther into junk territory from "B" to "C," saying the decision reflects the view that a default is "imminent." Read more »