I owe the banks almost Dh180,000 and was paying properly until 2016, when I lost my Dh10,000 a month job at a multinational company. I struggled to get another job for four months before eventually joining the insurance sector to secure some income. While I was unemployed, I used savings to make my repayments. I…
The new financial year will mark sweeping reforms to insolvency rules, with a legal firm warning the impacts on new business contracts will be far-reaching. Last September, Financial Services Minister Kelly ODwyer flagged a softening of insolvency rules in a bid to reduce the number of businesses voluntarily entering or being pushed into insolvency prematurely.…
On Tuesday Baby Bunting confirmed that sales and gross margins had been damaged “both in the lead up to and since these competitors entered administration”. What we have seen in the industry during this financial year in terms of the extent of consolidation is unprecedented,” Baby Bunting chief executive Matt Spencer said in a statement.…
Korean companies such as Kumho Tire, STX Offshore & Shipbuilding and GM Korea have wrapped up restructuring to walk the road to recovery. Unlike in the past, when restructuring was mostly about large-scale layoffs, these companies showed that labor and management could work together to create a new framework for corporate restructuring. Here is Lee…
The wait for investors to acquire some of the $210 billion of stressed assets up for grabs in India is likely to get longer. That’s because creditors are afraid to take decisions. Current and former top bankers from at least four state-run lenders are under investigation for alleged impropriety over their lending decisions, while the…
By Gary L. SmithGateHouse Media Illinois By Gary L. SmithGateHouse Media Illinois HENNEPIN A Putnam County man accused of murdering a sister-in-law and burying her in a shallow grave nearly two years ago had been using her as a traveling bank to help support a gambling habit that had driven him into debt, prosecutors…
The UKs Department of International Trade organised an outward mission to the UK in March, led by U Kyaw Myo, deputy transport and communications minister. The delegation included a dozen officials and 27 business representatives, who met with over 150 British businesses to explore potential commercial opportunities. In a wide-ranging interview, U Aung Naing Oo,…
Retailer Baby Bunting is the latest brand to highlight incredibly tough sales conditions in the lead-up to the end of financial year, confirming the collapse of two other baby goods providers this year has had an impact on its sales. In May the brand warned shareholders that things may not pan out as expected this…
The wait for investors to acquire some of the $210 billion of stressed assets up for grabs in India is likely to get longer. Thats because creditors are afraid to take decisions. Current and former top bankers from at least four state-run lenders are under investigation for alleged impropriety over their lending decisions, while the…
FORMER treasurer Peter Costello says most of us will be dead before Australias national debt is paid off. On the eve of Scott Morrisons third budget, Mr Costello told ABCs 7.30 the Turnbull government had not done enough to control debt. Weve now had ten years of deficit. Cumulatively, that means to cover that weve…