Zambia is running out of money to pay its debts. It has asked bondholders for breathing space so that it can put a restructuring plan in place. The copper-rich African state is at risk of being the first country to default on its debts since the start of the coronavirus pandemic. Not the last though.…
DetailsShareholders of United Arab Emirates-based Arabtec Holding, which helped build the worlds tallest skyscraper, voted to dissolve the debt-laden firm in a move likely to threaten thousands of jobs and scores of suppliers and sub-contractors in the Gulf region. Construction companies that sprang up more than a decade ago as a building bonanza swept Dubai…
DetailsExpress News Service SHIVAMOGGA: TheCovid pandemic has hit the Charaka Womens Multipurpose Industrial Cooperative Society, forcing it to declare insolvency as it could not repay the debt. Founded by social activist Prasanna Heggodu in 1994, the Society at Bheemanakone in Sagar taluk of Shivamogga district was empowering around 800 handloom weavers, natural dye manufacturers and…
DetailsSome 342m of UK investments will help fund Chinese debt as Communist Party bonds are upgraded by the London Stock Exchange Chinese Communist Party to list its bonds on the World Government Bond index Promotion to the global index gives China access to much larger pools of capital UK funds have already invested 3billion in…
Details{{featured_button_text}} David Vieth, assistant principal and athletic director for Mattoon High School, was the guest speaker for the recent Kiwanis Club of Mattoon Zoom meeting Submitted photo MATTOON David Vieth was the guest speaker for the Kiwanis Club of Mattoon meeting on Sept. 16. Vieth is the assistant principal and athletic director for Mattoon High…
DetailsSmall island nations are in a bind. Under assault from climate change, they need to spend big to protect their communities from rising seas and dangerous storms. But a major source of incomeinternational tourismhas dried up due to the coronavirus pandemic. So now theyre pleading with world leaders for help and relief. As small island…
DetailsIndia should look to make rapid strides towards introducing a comprehensive ‘individual insolvency’ regime now that it has achieved several milestones in corporate insolvency in recent years, according to IBBI Chairman M S Sahoo. Giving a sense of direction to the reform agenda on IBC in the days to come, Sahoo has in an article…
DetailsUAE-based Arabtec Holding, the builders of Burj Khalifa, the worlds tallest skyscraper, has decided to close down and file for liquidation, Bloomberg reported. As debts mounted, the shareholders of the company voted to dissolve the firm. The move is likely to threaten thousands of jobs and scores of suppliers and subcontractors in the Persian Gulf.…
DetailsDespite the coronavirus lockdowns, or helped by them perhaps, much of the U.S. is in the midst of a red-hot housing market. But buying a home can be challenging if you have student debt. More than 44 million Americans collectively owe around $1.6 trillion in student loans, according to Federal Reserve and New York Federal…
DetailsBy Marc Jones 5 Min Read LONDON (Reuters) – The worlds poorest countries could soon be facing a tough decision — double up on debt relief from the G20 with the caveat they must default on private creditors, or quit the programme to try to keep financial markets on side. FILE PHOTO: A man stands…
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