An Indonesian businessman on trial for corruption allegations involving state-owned PT Jiwasrayas insurance and investment group is accused of having used more than Rp28.3 billion (US$1.9 million) in state funds to re-pay gambling debts in Macau, according to Antara News. Heru Hidayat, President Commissioner in PT Trada Alam Minera Tbk, a marine and terminal services…
DetailsDozens of scantily dressed Filipina croupiers stand in booths shuffling cards in front of a webcam, their faces softly illuminated by professional lighting. Nearby, rows of Chinese nationals sit at desks chatting on cellphones with potential clients back in China. This is what a typical POGO — or a Philippine Offshore Gaming Operator — looks…
DetailsEmerging economies have raised more than $83bn through the international bond market since the beginning of April, just weeks after a push by the G20 to offer many poorer nations debt relief. Data collated by the Institute of International Finance, an industry association, show that developing economies are financing their coronavirus-driven deficits by accessing the…
DetailsMatt Blatt has closed its doors, with customers accusing the copa. This comes as Kogan acquired the companys assets in mid-May for $4.4 million. Matt Blatt has collapsed, leaving some customers out of pocket. This comes after Kogan acquired some of the business assets for $4.4. million in mid-May. Some of these customers are said…
DetailsTreasurer Josh Frydenberg and his department, financial regulators, banks, business groups and insolvency practitioners are consulting on the planned roll-off of the measures. One suggestion has been to extend by a few months the moratorium on directors being liable for insolvent trading, or to prolong the time companies have to respond to demands from creditors…
Details(MENAFN – Trend News Agency) BAKU, Azerbaijan, Jun. 14 By Nargiz Sadikhova – Trend: Implementation of the project of Asian Development Bank (ADB) to support overall business restructuring and transformation plan of Samruk-Energy, Kazakhstan’s largest power generation company, is underway, ADB representative told Trend . The official said that ADB’s current non-sovereign loan portfolio in…
DetailsPodcast: Two Cents’ Worth When Christchurch bookkeeper and business owner Lisa Cowe was declared bankrupt in 2017, it was over a $6,200 credit card debt owed to the BNZ. Cowe joined 1862 others in bankruptcy that year, many of them voluntarily making the move to clear their debts and attempt to start anew, free of…
DetailsWeve all made financial decisions weve come to regret. Now, lets add another wrinkle to this scenario. What if you knew these purchases were impulsive but you made them anyway? What if you knew bills were piling up but you werent able to bring yourself to look at them, let alone pay them? What if…
DetailsCoronavirus-hit car rental company Hertz was granted permission Friday to sell $1 billion in shares, an extraordinary move after it declared bankruptcy in the United States and Canada. The unusual green light was given by a bankruptcy court in the US state of Delaware, which “held a hearing and approved the Motion,” according to documents…
DetailsSureeporn Srithong Phone greed imperils land A Phitsanulok woman is warning Thais to repay their debts after the Land Execution Department seized 4 rai of family-owned land in lieu of a phone debt she failed to discharge, throwing the lives of its 11 occupants into uncertainty. Sureeporn Srithong 38, a trader, said she is worried…
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