COLOMBO: International ratings agency Fitch downgraded cash-strapped Sri Lanka yesterday due to mounting fears of a sovereign default on its $26 billion foreign debt, but Colombo insisted it will meet its obligations.

BUENOS AIRES: An illusion of prosperity, a headlong rush into debt and years of austerity collided 20 years ago to provoke one of the biggest crises in Argentina’s history. The subsequent social unrest left scars that can still be felt today.

KUWAIT: ‘Better Together 2022’ aims to bring together and strengthen the bond between Huawei and the media & partners. The idea of Better Together 2022 is acknowledging the fact that unity and togetherness can lead to success. 

BEIJING: Chinese consumer spending grew at a slower-than-expected pace in November, data released yesterday showed, with analysts warning that an uptick in coronavirus cases was dampening sentiment and adding to questions over a rebound in the world’s second-largest economy.

KUWAIT: Zain, the leading digital service provider in Kuwait, announced a collaboration with Kuwait Clearing Company (KCC), through which the operator is set to offer a wide range of the most advanced telecommunications services and digital transformation solutions built on world-class technologies.

KUWAIT: As part of its efforts to strengthen its leadership in the investment sector in Kuwait and the region, National Investments Co (NIC) achieved exceptional successes at all levels in 2021. 

LONDON: The EU and Britain failed to reach agreement on how to divvy up post-Brexit fish quotas in shared waters from next year, officials said yesterday, meaning provisional quotas will apply.

AMMAN/KUWAIT: Zain Group announced that its operation in Jordan has entered into a definite 15-year agreement to sell and leaseback the passive physical infrastructure of its 2,607 tower portfolio in Jordan to TASC Towers for $88 million. 

PARIS: The Omicron coronavirus variant will slow the recovery in global demand for oil but the market will be “more comfortable” in 2022, the International Energy Agency said yesterday.