Colombo / AFP Sri Lanka is seeking foreign assistance to rescue its loss-making national carrier, a minister said, after the government announced the airline was unable to pay back nearly $1 billion in debt. The airline owes at least $933 million but the government last week said the true figure could be much higher. Official sources said Colombo was in ...

Bloomberg Home Retail Group Plc said its board will unanimously recommend J Sainsbury Plc’s 1.4 billion-pound ($2 billion) bid after South African retailer Steinhoff International Holdings NV withdrew from the battle to acquire the Argos owner. The announcement effectively ends a protracted takeover saga that began on January 5 when Sainsbury first disclosed its interest. After weeks of wrangling over ...

Bloomberg Kenya Airways, the east African country’s struggling national airline, is to cut up to 600 jobs as part of a bid to achieve $200 million in savings, the airline. The reductions at the airline, partly owned by the government as well as Air France KLM, could see around 15 percent of the 4,000-strong workforce cut. As part of efforts ...