The number of applications for insolvency and restructuring of companies has reduced in the first half of the year, pointing to reduced financial hardship by firms in an improved economy. Kenyas economy in the three months to March reversed seven straight back-to-back quarterly growth declines to post a 5.3 per cent gross domestic product growth…
SMEs also in line for rescue measures PUBLISHED : 11 Sep 2023 at 04:30 A protest held by farmers outside the Finance Ministry last year. The farmers demanded the government step in to help with their debts owed to state-run banks.Arnun Chonmahatrakool The Finance Ministry plans to roll out rescue measures by suspending debt payments…
Left to right: Care Financial Counselling and Consumer Law CEO Carmel Franklin and Care Consumer Law Principal Lawyer Agata Pukiewicz. A free legal service that supports Canberrans involved in consumer or credit law disputes has received a funding boost ensuring it will be available for another year. The Consumer Law Duty Service assists with disputes…
RSM in Canberra partner Frank Lopilato with Adam Cormack, a senior manager who has become one of three registered liquidators at RSM Canberra. Photo: Ben Calvert. If you have Grim Reaper notions of the role of a liquidator, chances are you havent met Adam Cormack. Anecdotally, I think theres a common misconception that liquidators only…
The Association for Business Restructuring & Turnaround launches this week with the goal of accrediting specialists in company turnaround and setting professional standards. ABRT founder Eddie Griffith said the body would aim to address problems identified by the parliamentary insolvency inquiry and had sprung out of conversations between like-minded specialists. We came up with the…
Did you get a tax bill last financial year? That could partly be due to the end of the low- and middle-income tax offset as of last year. Depending on what industry you’re in and the benefits your employer offers, there might be a way to reduce your debt in future tax returns. It’s called…
SHANGHAI, Sept 10 (Reuters) – China’s Alibaba Group (9988.HK) on Sunday announced that Daniel Zhang will step down from its cloud business, in a surprise move just two months after the company said he would leave his roles as group CEO and chairman to focus on the cloud unit. Zhang had previously been concurrently serving…
G20 world leaders have committed to redouble efforts to resolve ongoing debt distress caseslike Ghana and Sri Lanka, the US White House said in a statement. The White House statement said that US President Joe Biden called on the G20 which met in India, as leaders in the global economy to provide meaningful debt relief…
By: Biswajit Dhar, He is a former professor of economics, Jawaharlal Nehru University and also a Distinguished Professor at Council for Social Development, New Delhi. The Indian Prime Minister says a G20 strategy has driven global debt restructuring since his country assumed leadership. That’s not the full picture. Indian Prime Minister Narendra Modi, who is…
The U.S. national debt is sitting at nearly $33 trillion dollars. Every year since 2001, the U.S. government has spent more money than it takes in, which means it has to borrow money to make up for the difference. “Debt has many useful purposes,” said Kris Mitchener, professor of economics at the Leavey School of…