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Giant Coffee Union's Receivership Now Lifted

Kenya Planters’ Co-operative Union’s (KPCU) receivership has been lifted by the Kenya Commercial Bank. The development comes after the farmers’ union agreed to the new conditions set by the bank before it could waive the bankruptcy notice, Standard Digit ...

Daily Headline - global.abi.org - 07/07/2014 - 23:09 - 0 comments

Protech Khuthele Applies For Liquidation

Civil engineering company Protech Khuthele is applying for liquidation. This was announced in a Sens statement released on Tuesday, Moneyweb reported. At the end of May, Protech announced that it had voluntarily started with for business rescue proceedin ...

Daily Headline - global.abi.org - 07/01/2014 - 23:40 - 0 comments

Cost Of Insuring Against Bank Defaults Back At Pre-Crisis Levels

The cost of insuring against global bank defaults has plunged to its lowest level since the financial crisis in a sign that investors are willing to bet the industry has become safer, the Financial Times reported. Buyers of bank debt often purchase “ ...

Daily Headline - global.abi.org - 06/15/2014 - 21:47 - 0 comments

South Africa’s Credit Rating Cut to One Level Above Junk by S&P

South Africa’s credit rating was cut to one level above junk by Standard & Poor’s as the longest mining strike in the nation’s history threatens to drag the economy into recession, curbing government revenue, Bloomberg News reported. The foreign-curr ...

Daily Headline - global.abi.org - 06/15/2014 - 21:50 - 0 comments

IMF Sounds Global Housing Alarm

The world must act to contain the risk of another devastating housing crash, the International Monetary Fund warned on Wednesday, as it published new data showing house prices are well above their historical average in many countries, the Financial Tim ...

Daily Headline - global.abi.org - 06/11/2014 - 20:42 - 0 comments

Ghana’s Risk Rising as Bank Prints Money to Pay Debt, Fitch Says

Ghana’s central bank is printing money to help finance the government’s budget deficit, threatening to fuel inflation and weaken a currency that’s already the worst performer in Africa this year, Bloomberg News reported. The first-quarter budget deficit of 2.1 percent of gross domestic product “was ...

Daily Headline - global.abi.org - 06/09/2014 - 21:14 - 0 comments

Nigeria Seeks Bids For Assets Of Ailing Telecom Company Nitel

Nigeria is seeking buyers for the assets of distressed state-owned former telecom monopoly Nitel, the state-appointed liquidator said on Monday, Reuters reported. Nigeria opted to wind up Nitel in March after almost a decade of struggling to sell it, due ...

Daily Headline - global.abi.org - 06/09/2014 - 21:14 - 0 comments

Liberia: Cllr. Barbu Wants Timely Passage of Insolvency Law

The Chairman of the Law Reform Commission (LRC), Cllr. Jallah Barbu, has recommended to members of the National Legislature to consider the passage of the proposed Insolvency Law, allAfrica reported on an Inquirer story. Giving background of the Inso ...

Daily Headline - global.abi.org - 06/05/2014 - 22:52 - 0 comments

United Nations Forecasts Persistently High Unemployment for the Young

The clouds of the global financial crisis may have lifted, but six years later, the world economy is not creating nearly as many jobs as it was before 2008, a United Nations report on Wednesday concluded, nor is it expected to in the near term. That is a ...

Daily Headline - global.abi.org - 05/21/2014 - 21:42 - 0 comments

Tax Evasion: The Data Revolution

The war on those stashing undisclosed money offshore intensified this week when 47 countries, including the Group of 20 and some prominent tax havens, sealed a pact that will shake up the sharing of tax information, The Economist reported. Under the ...

Daily Headline - global.abi.org - 05/11/2014 - 23:18 - 0 comments

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