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Singapore Shipyard Orders Hit by Oil Price Slide

The order book at Singapore shipyards fell by more than half last year as the city-state’s offshore industry was battered by the slide in oil prices. Companies in the sector have been forced to restructure debts and slash costs, including cutting their w ...

Daily Headline - global.abi.org - 05/25/2017 - 17:35 - 0 comments

Less Soured Debt Is the Least of Cinda's Worries

0.67 times, well below the one times at which it was listed at the end of 2013. Rival China Huarong Asset Management Co. is trading at a 0.95 times multiple. Read more. (China) As recently ...

Daily Headline - global.abi.org - 05/25/2017 - 17:36 - 0 comments

Bank of China Main Backer as ChemChina Raises $20 Billion for Syngenta Deal

ChemChina has raised $20 billion (15.4 billion pounds) mainly in perpetual bonds to finance its purchase of Swiss seeds firm Syngenta, with Bank of China becoming the single largest investor providing half of that funding, according to a regulatory filin ...

Daily Headline - global.abi.org - 05/25/2017 - 17:37 - 0 comments

China's Downgrade Could Lead to a Mountain of Debt

The downgrade of China’s debt by Moody’s Investors Service may push Chinese companies to borrow even more money from domestic banks as overseas debt becomes more expensive, increasing risks for the nation’s finance industry, Bloomberg News reported. With ...

Daily Headline - global.abi.org - 05/24/2017 - 22:40 - 0 comments

Bank of Cyprus Fined €18 Million Over Credit Card Competition Concerns

Bank of Cyprus, the only eurozone bank to forcibly bail in depositors during the financial crisis, has been fined €18m by the island’s competition regulator for abusing its dominant market position in the credit cards, the Financial Times reported. T ...

Daily Headline - global.abi.org - 05/24/2017 - 22:42 - 0 comments

Restructuring by Azerbaijan Bank Rattles Foreign Investors

A “too big to fail” trade has backfired on the shores of the Caspian Sea. The International Bank of Azerbaijan is imposing haircuts on holders of $3.3 billion of foreign debt after suffering loan ... Azerbaijan is imposing haircuts on holders of $3.3 billion of foreign debt after suffering loan and currency ...

Daily Headline - global.abi.org - 05/24/2017 - 22:43 - 0 comments

Creditors Cry Foul After Default as Azeri Bank Offers Debt Swap

guarantee, Bloomberg News reported. The International Bank of Azerbaijan proposed swapping $3.3 billion of ...

Daily Headline - global.abi.org - 05/23/2017 - 20:47 - 0 comments

Azerbaijan Bank Creditors Balk at Restructuring Plan

A troubled lender from Azerbaijan is shaping up to be a battleground for U.S. and European investors facing big losses on bondholdings. State-owned International Bank of Azerbaijan, or IBA, filed for bankruptcy in New York on May 11, battered by bad loans and the oil-price rout. It wants to restructure $3.3 ...

Daily Headline - global.abi.org - 05/23/2017 - 00:01 - 0 comments

China's LeEco Founder Cedes Control of Listed Unit Amid Cash Crunch

The founder of LeEco, a Chinese Netflix-to-Tesla-like conglomerate, has stepped down as the CEO of the group's main listed unit, as the company begins to streamline and cut debt after rapid expansion led to a cash crunch, the International New Yor ...

Daily Headline - global.abi.org - 05/23/2017 - 00:03 - 0 comments

Noble Group Shares Routed as S&P Flags Risk of Possible Default

Noble Group Ltd.’s crisis deepened on Tuesday after S&P Global Ratings flagged the risk that the embattled commodity trader may default on its debt, triggering a 36-minute plunge in the company’s shares, an exchange query, and a trading halt ahead of ...

Daily Headline - global.abi.org - 05/23/2017 - 00:04 - 0 comments

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