A simultaneous attack on another prayer hall killed 88 members of Ahmadiyya community, a religious minority group subject to discrimination and persecution. When the Red Cross’ 14,000 Australian volunteers start their annual fund-raising appeal this March, about one in seven will be Ahmadis, nearly all refugees like Mr Ahmed, who want to thank Australia. As well, a…
DetailsIts Australian business, whose chief executive is high-profile bookmaker Mr Waterhouse, has been placed under a “strategic review” and is now up for sale. Industry sources confirmed multiple bookmakers had done due diligence on William Hill Australia in recent weeks, and said a deal could be sealed imminently. Unlike many of Australia’s other prominent online bookmakers, who…
DetailsOne Nation will not ask the Senate to consider the eligibility of senator Fraser Anning, after a public spat between Pauline Hanson and her former colleague. Key points: Pauline Hanson says she will no longer proceed with her bid to have Fraser Anning referred to the High Court “He’s gone Independent, and I’m glad…
DetailsIm not a spendthrift by nature, but I am spontaneous and not naturally inclined to strict budgets and plans. With such a low income, it didnt take much indulgence for me to spend beyond my means. Within six months I had more than $2000 in debt and was paying hefty interest charges every month. It…
DetailsEssar Steel, once the flagship company of Ravi Ruia and Shashi Ruias Essar Group, has become a test case for Indias new bankruptcy code. In a span of less than a year, the insolvency proceedings against the company have witnessed a court case, a change in law, and, two keen bidders ArcelorMittal and Numetal Ltd.…
DetailsState Bank of India (SBI) is set for a major restructuring of its business in the UK from April, Indias largest state-owned bank has said. SBI’s UK operations will transform into a subsidiary named State Bank of India UK Limited from April 1, in compliance with wider ring-fencing of capital requirements by the Bank of…
DetailsSINGAPORE – Crippled with a debt of US$877 million (S$1.16 billion), offshore services provider Otto Marine is seeking insolvency protection from the High Court in a bid to salvage the company and stave off liquidation. The troubled company, which has been delisted from the Singapore Exchange, filed an application on Tuesday (Feb 20) to be placed…
DetailsAbraaj Groups founder Arif Naqvi will cede control of the fund management business in what he said was a planned restructuring of the private equity firm accelerated by reports of misused funds. The Middle Easts largest buyout company promoted Omar Lodhi and Selcuk Yorgancioglu as co-chief executive officers of Abraaj Investment Management Ltd., which will…
DetailsBy the time Rene Gauthier was violently knocked off his motorcycle in 2013, the surfboard and clothing company he’d built from the ground up was already deep in the red. Last week, the co-founder of Sitka Surfboard was awarded nearly $1 million in compensation for the injuries he suffered in the 2013 crash in downtown Victoria.…
DetailsNZX-listed CBL Corporation has appointed voluntary administrators to prevent other regulators from taking action after the Reserve Bank moved to have interim liquidators take charge of its subsidiary CBL Insurance, managing director Peter Harris says. “That means that everything from hereon operates under a protective umbrella of voluntary administration,” Harris told the Herald. Harris said…
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