Nov 17, 2017 Somalia needs humanitarian aid to stem its short-term suffering, but that cash will not break the country’s deadly cycles of drought, hunger, and poverty. To do that, the IMF must forgive Somalia’s crushing debt, just as it has for nearly every other heavily indebted poor country. LONDON Julius Nyerere, the first president…
HANOI, Nov 20 (Reuters) – Vietnams national assembly on Monday gave authorities the ability to declare troubled banks bankrupt, through an amendment to a law on the operation of credit organisations, the government website said. Approval of a bill establishing the right to declare bankruptcies came about five years after the start of a banking…
ATM operator Stargroup has been placed in the hands of insolvency firm KordaMentha after the loss-making company was unable to complete a restructure of its $9.1 million debt. Business News understands the ASX-listed company had been trying to raise fresh equity but was unable to do so. It announced today that Richard Tucker and John…
Outgoing Perpetual chief executive Geoff Lloyd maintains active fund managers in Australia still have a bright future, despite the threat from the global rise of passive investment funds. Mr Lloyd, 49, on Monday announced he would step down at the end of this financial year, after a five-year period in which the industry has faced major structural changes. Perpetual…
Editors note: The following is a roundup of stories from The Conversations archive. On Sept. 20, 2017, Hurricane Maria tore across Puerto Rico. The Category 4 storm was so massive 300 miles wide that it enveloped the island entirely, battering it with 155 mph winds and dropping almost two feet of rain. The next day,…
SINGAPORE – Catalist-listed Chaswood Resources Holdings said on Monday (Nov 20) its wholly-owned Malaysian subsidiary has started restructuring proceedings on RM22 million (S$7.18 million) of credit facilities. Under the proposed debt restructuring, the unit, Chaswood Resources Sdn Bhd (CSRB), is holding discussions with its principal lenders – CIMB Bank Berhad, Malayan Banking Berhad and AmBank (M) Berhad…
Queensland Treasurer Curtis Pitt says state debt will hit $81 billion over the next term of government, but insists it’s not a problem for the state’s economy. It comes as a poll of six marginal electorates ahead of the November 25 Election Day finds voters believe the Liberal National Party are better economic managers than…
Queensland Treasurer Curtis Pitt says state debt will hit $81 billion over the next term of government, but insists it’s not a problem for the state’s economy. The ballooning debt has become an election issue, with LNP leader Tim Nicholls being criticised for not explaining how he will fund promises while also reigning in debt.…
General Electric Co.s new leader outlined a restructuring plan that will slash the annual dividend by $4 billion and streamline the industrial giants operations, but warned investors it will take years to fix some of the companys businesses and for profits to begin to improve. GE Chief Executive John Flannery lowered earnings targets for 2018…