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Brazil's Embraer announces 3rd quarter loss
Brazil's Embraer announces 3rd quarter loss
by  AFP

Brazilian plane-maker Embraer announced on Monday a third quarter loss of 160.4 million reais ($30.2 million) due to falling revenue in its defense and security sectors. Compared to the third quarter in 2021, when Embraer lost 234 million reais, defense and security revenues fell by 42 percent.

Sri Lanka govt takes over $1.7 bn in debt owed to China
Sri Lanka govt takes over $1.7 bn in debt owed to China
by  AFP

Crisis-hit Sri Lanka said Monday it would take responsibility for $1.7 billion owed to China by state enterprises as it seeks to sell them off and restructure its foreign debt to secure an IMF bailout. Sri Lanka defaulted on its foreign debt in April and the IMF has said its borrowings must be "sustainable" to unlock any new external funding.

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