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Sri Lanka to restructure domestic debt

COLOMBO: Sri Lankan authorities have declared a five-day closure of financial markets from Thursday ahead of a controversial move to restructure the government’s domestic debt amounting to more than $51 billion. The restructuring affects government bonds in line with an IMF bailout agreed in March after Sri Lanka defaulted on …

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Egyptians to reduce Eid al-Adha animal sacrifices

CAIRO: As Egyptians prepare to celebrate Eid al-Adha, the skyrocketing livestock prices, caused by high inflation and devaluation of the local currency, have cast a shadow over the festivities. Eid al-Adha, or the Feast of Sacrifice, which will start on June 28, is one of the most anticipated celebrations in …

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Climate-friendly flights more expensive

WHEN it comes to flying, going green may cost you more. And it’s going to take a while for the strategy to take off. Sustainability was a hot topic this week at the Paris Air Show, the world’s largest event for the aviation industry, which faces increasing pressure to reduce …

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African youths finish entrepreneurship program

BEIJING: Dozens of African youths have completed an entrepreneurship program, which brought them closer to China’s booming e-commerce and tech giants. Financed by China Merchants Foundation, the C-STAR African Youth Innovation & Entrepreneurship Program aims to promote employment and entrepreneurship of African youth. Its closing ceremony was held Wednesday at …

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France presents concrete industry proposals to PH

Philippines and France conducted their 10th Joint Economic Cooperation meeting, with the latterpresenting concrete deliverables and proposals on air transport service, infrastructure, agriculture, and energy. PHILIPPINES-FRANCE 10TH JOINT ECONOMIC COOPERATION — (Shown in photo from left to right) – French Treasury Deputy Director Denis Le Fers, DTI Secretary Fred Pascual, French …

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PH transition to new energy sources needs gov’t subsidy

TOKYO — The transition to new technologies in power generation, such as the use of LNG, ammonia and hydrogen, would require some government subsidy to ensure achievement of goals on decarbonization and, at the same time, ensuring stable and affordable energy cost, according to JERA Co. Inc.,  Japan’s largest power …

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DTI, BIR close down stores, seize illegal vape products

The joint forces of the Department of Trade and Industry (DTI) and Bureau of Internal Revenue (BIR) resulted in the closure of two vape stores and confiscation of 989 units of non-compliant vaporized nicotine and non-nicotine products and novel tobacco products. DTI-Consumer Protection Group (CPG) Undersecretary Atty. Ruth B. Castelo, …

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Musk, Zuckerberg call for cage fight

Elon Musk  Mark Zuckerberg  Tech titans Mark Zuckerberg and Elon Musk are in a fierce business rivalry that has spilled over into a playground spat, with the two men offering to fight each other in a cage. Months after Musk took over Twitter, Zuckerberg’s Meta hinted it was planning to …

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