Thembinkosi Mthembu worked his way up the factory floor at Nampaks former Mobeni plant before taking over the tissue-making facility and developing it into a multimillion-rand business. Picture: Zanele Zulu/African News Agency (ANA) Leading packaging company Nampak is undergoing a group restructuring project that organised labour fears will result in massive job losses as the…
DetailsFile Photo Cape Town – Contrary to popular belief, the majority of indebted black professionals get into debt to support family members and not to feed a flashy lifestyle. This is according to research conducted by Lifecheq, a personal finance advisory organisation based in Cape Town and Johannesburg. The research, conducted on a sample of…
DetailsFile Photo Contrary to popular belief, the majority of indebted black professionals get into debt to support family members and not to feed a flashy lifestyle. This is according to research conducted by Lifecheq, a personal finance advisory organisation based in Cape Town and Johannesburg. The research, conducted on a sample of 150 Lifecheq clients…
DetailsBankrupt father of three who ran brothel in city avoids prison term BelfastTelegraph.co.uk A brothel keeper who housed prostitutes from eastern Europe has been ordered to carry out 60 hours of community service. https://www.belfasttelegraph.co.uk/news/northern-ireland/bankrupt-father-of-three-who-ran-brothel-in-city-avoids-prison-term-37512116.html https://www.belfasttelegraph.co.uk/incoming/article37513100.ece/0a6a6/AUTOCROP/h342/erryMcBride12.jpg Email A brothel keeper who housed prostitutes from eastern Europe has been ordered to carry out 60 hours of community…
DetailsLONDON: The UK subsidiary of Punjab National Bank (PNB) is suing five Indians, one American and three companies in the UK high court claiming they fraudulently misled the bank to lend them tens of millions of dollars and now owe the bank approximately $37 million (Rs 271 crore) in unpaid loans. PNB (International) Ltd, which…
DetailsDeveloper pleads guilty to $58M ponzi scheme involving projects in Manhattan and the Hamptons He allegedly used money to pay off gambling debt, early investors November 09, 2018 10:00AM Michael DAlessio (Credit: Youtube via Crains) A White Plains real estate developer pleaded guilty on Thursday to defrauding investors in his development projects in Manhattan, the…
DetailsBankers are struggling to arrive at a consensus on the resolution of several stressed power sector assets outside of the insolvency proceedings. They fear large loan losses or haircuts in the sector given the lower valuations. Negotiations are going on but we are yet to finalise the pricing as the current levels demanded by buyers…
DetailsSouth Koreas financial institutions suffered insolvency of asset-backed commercial papers Friday at midnight, following a Chinese firms default on payments due for bonds. The ABCPs were backed by dollar-denominated bonds worth $150 million that were declared insolvent Thursday. This accounts for some 7 percent of all bonds issued by CERCG Overseas Capital, a Hong Kong…
DetailsA financial adviser from Winnipeg has been put under police investigation after facing allegations of manipulating 78-year-old client of his, who has been suffering from cognitive impairment, into lending him CA$200,000 to pay gambling debts. According to documents filed in court, the 50-year-old Aime Edmond Grenier is facing accusations of using his relationship with…
Details“; var ifrd = ifr.contentWindow.document; ifrd.open(); ifrd.write(htmlcode); ifrd.close(); } }); South Koreas financial institutions suffered insolvency of asset-backed commercial papers Friday at midnight, following a Chinese firms default on payments due for bonds. The ABCPs were backed by dollar-denominated bonds worth $150 million that were declared insolvent Thursday. This accounts for some 7…
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