JAKARTA — Indonesia’s flagship carrier Garuda Indonesia has narrowly avoided defaulting on its $500 million Islamic bonds after agreeing with its creditors to extend the maturity of the debt. The deal was agreed on Wednesday in a virtual meeting between the company and its bondholders. A statement from Garuda said that creditors holding $454 […]
lifeline
Two million self-employed people thrown a lifeline but gaps in support remain
However he added that more should now be done to help those who are not eligible for a grant, such as the newly self-employed and directors of limited companies. Adrian Beadnell, who has been receiving a government grant, said the news was a huge relief. The 64-year-old self-employed first aid trainer […]
Fintech startups throw financial lifeline to Philippines’ unbanked
MANILA — As the Southeast Asian digital economy expands beyond online shopping, a host of startups are using financial technology to give the unbanked Filipino majority access to loans from individual and institutional lenders. The province of Nueva Ecija, to the north of Manila, is known as the granary of […]
Formula One team Williams wins lifeline from Canadian food tycoon
The beleaguered Williams Formula One team has been thrown a lifeline by Canadian food processing tycoon Michael Latifi who has handed it a high-octane loan secured on its cars and factory in Oxfordshire. Williams is one of the few F1 teams that is not owned by a billionaire or a […]
Bangladesh seeks IMF lifeline after record stimulus package
DHAKA — Bangladesh is seeking $700 million in financial backing from the International Monetary Fund after rolling out its biggest-ever stimulus package. The government hopes the move will prevent the coronavirus pandemic from ravaging its trademark macroeconomic stability. “We are currently assessing the government’s request to the IMF for emergency […]