The number of companies filing for administration across the Midlands jumped by 60% in 2022 as rising inflation and weaker trade continues to put businesses under pressure. Analysis of notices in The Gazette by Interpath Advisory reveals that a total of 120 companies based in the Midlands fell into administration in 2022 up from 75…
Two of Australias richest people are expected to be rivals in the bidding process for Sun Cable, the developer of what could be the worlds biggest intercontinental solar and energy storage project. Administrators indicate that the sale process could be completed within three months. January 24, 2023 David Carroll From pv magazine Australia The future…
Image source, Getty Images By Simon Jack Business editor There are growing fears that 2023 could see a wave of company collapses as the cost of living crisis continues. The number of firms on the brink of going bust jumped by more than a third at the end of last year, said insolvency firm Begbies…
The Export-Import Bank of China has offered Sri Lanka a two-year moratorium on its debt and said it will support the country’s efforts to secure a $2.9 billion loan from the International Monetary Fund, according to a letter reviewed by Reuters. Read here: Cough syrup deaths: WHO probes Indian, Indonesian firms links – Report India…
Summary Companies Cuts operating forecast to 110 bln yen from 210 bln yen Q3 operating profit down 37% y/y at 28 bln yen Started producing 2nd-gen e-axle model in September TOKYO, Jan 24 (Reuters) – Japanese electric motor maker Nidec Corp (6594.T) slashed its full-year operating profit forecast by nearly half on Tuesday as it…
Woman in blanket – stock shot Government borrowing hit a new high in December, driven by the cost of supporting households with their energy bills and rising debt interest costs. Borrowing, the difference between spending and tax income, was 27.4bn, the most for any December since records began in 1993. Interest on government debt hit…
LUSAKA, Jan 23 (Reuters) – U.S. Treasury Secretary Janet Yellen said on Monday on a visit to Zambia it was critically important to restructure its debt, and she believes progress could be made after her frank talks last week with China, which is owed almost $6 billion by Lusaka. Yellen added that Zambia’s debt overhang…
US Treasury Secretary Janet Yellen said restructuring Zambias debt was a top priority as she visited the debt-ridden African country on Monday. In 2020, as the Covid-19 pandemic battered Africa, Zambia became the first country on the continent to default on its foreign debt, estimated at $17.3 billion. It has sought help through a G20…
(Reuters) -India has committed to help ease the debt burden of its crisis-stricken neighbor Sri Lanka as part of a possible International Monetary Fund-supported program, the IMF said on Monday. The island nation of 22 million people has grappled with challenges during the past year ranging from a shortage of foreign currency to runaway inflation…
NEW DELH/COLOMBO, Jan 24 (Reuters) – The Export-Import Bank of China has offered Sri Lanka a two-year moratorium on its debt and said it will support the country’s efforts to secure a $2.9 billion loan from the International Monetary Fund, according to a letter reviewed by Reuters. India wrote to the IMF earlier this month,…