Thank you, Kristalina. Id like to join you in welcoming UN Secretary-General Guterres, and all the Ministers and guests with us. And thank you to the IMF for co-hosting this event and for the continued close partnership between our institutions. These are unprecedented times, and in the six months since this group last gathered, the…
Text size OSVALDO SILVA/AFP/Getty Images Finance ministers and officials from around the world will gather soon for a virtual annual meeting of the International Monetary Fund and World Bank. Sometimes these gatherings lead to major international announcements. This time, two weeks before the highly consequential elections in the U.S., it would be naive to expect…
Its ships were crisscrossing the icy and remote waters of the Soviet North, bringing goods and manpower to bases and meteorological stations across a vast and desolate area. The Murmansk seaport was bustling with its ships and sailors and the downtown office building was a powerhouse in regional economy. It is all part of a…
Creditors in western Nunavut who are still smarting over money owed to them by two bankrupt companies, Kitnuna Projects and Kitnuna Petroleum, could not learn much from a recent Kitikmeot Corp. update on the bankruptcies. The two companies, which declared bankruptcy last November, together owed more than $10 million to a long list of creditors,…
SHARE TWEET PIN NBA players are heroes for many of us, but theyre still fascinated by the glitz and glamour of Las Vegas. After all, the basketball court has a little casino vibe with all the bright lights. While fans wont be too excited about this comparison, you should know that some NBA superstars have…
Citizen TV owner SK Macharia is fighting a rearguard action against being declared bankrupt. The State Law Office published his bankruptcy notice in the Kenya Gazette on October 2. In the 1980s managing director of Oceanfreight Transport Livingstone Waithaka paid him Sh500,000 for a plot of land which was never transferred to him. He went…
Murmansk Shipping Company has been officially declared bankrupt by a local arbitration court in Russia this week, bringing to a close an 81-year chapter in Arctic maritime history. Bankruptcy proceedings will be carried out through to the end of March led by a court-appointed manager. Splash has reported on the decline of the line a…
The girl is only 16 but her grandmother apparently considered her old enough to provide sexual services to men in exchange for money in the popular resort of Pattaya, which has long been known for its thriving sex industry. In a case that has highlighted the sexual exploitation of children and young women in Thailand,…
Reserve Bank governor Philip Lowe, right, and deputy governor Guy Debelle…the bank warns bankruptcies will increase next year.Alex Ellinghausen Emergency measures such as JobKeeper, cash flow payments from the Australian Taxation Office and a temporary freeze on director liability for insolvencies will roll off between January and March. If the estimated 3 per cent fall…
Creditors of STA Travel have agreed with the administrators recommendation that the company be wound up, with the likelihood of a return not looking all that promising. The company, which was placed into voluntary administration back in August, operated online travel agent services and a network of 27 shopfront outlets across Australia. Its COVID-induced collapse…