Sri Lanka asks IMF to revive $1.5-billion bailout

COLOMBO: Sri Lanka has appealed to the International Monetary Fund to revive a $1.5-billion (Dh5.5 billion) bailout suspended during the island nation’s political crisis late last year, the finance ministry said on Wednesday. In October, President Maithripala Sirisena sparked weeks of high political drama, even featuring brawls in parliament, by sacking Ranil Wickremesinghe as prime […]

GE didn’t deliver on jobs. Now, France wants up to $60m

Paris: Four years ago, General Electric Co made a commitment to win France’s approval to buy Alstom SA’s energy business: it would create jobs or pay a hefty fine. The Boston-based company pledged it would add 1,000 positions in France by end-2018, failing which it would pay the French government a fine of €50,000 ($57,000; […]