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Insolvency Proceeding: JSW Steel Bid for Bhushan Power is Lenders’ Top Pick

Lenders to Bhushan Power and Steel have zeroed in on JSW Steel as the most preferred bidder to take over the near-bankrupt company, the Financial Express reported. The Sajjan Jindal-led steelmaker has offered to pay Rs 19,350 crore to lenders of Bhus ...

Daily Headline - global.abi.org - 08/16/2018 - 22:33 - 0 comments

Banks Can Act Against Personal Guarantors Of Insolvent Companies, Rules Supreme Court

The Supreme Court ruled that creditors can proceed against personal guarantors of a corporate debtor even while insolvency proceedings are on, Bloomberg Quint reported. The top court said the moratorium envisaged under Section 14 of the Insolvency and Ba ...

Daily Headline - global.abi.org - 08/16/2018 - 22:38 - 0 comments

As Lira Rebounds, Investors Find Other Ways to Bet Against Turkey

Turkey’s attempts to stabilize its embattled financial markets have borne some fruit this week, sparking a relief rally in the lira, but investors are still looking for ways to hedge against any new shocks, The Wall Street Journal reported. The lira ...

Daily Headline - global.abi.org - 08/16/2018 - 22:38 - 0 comments

Malaysia Accuses China of Harboring 1MDB Fugitive Jho Low

Malaysian officials believe China has been harboring one of the world’s most-wanted financial fugitives, the financier the U.S. Justice Department alleges is at the center of the $4.5 billion theft from a Malaysian development fund, The Wall Street Jou ...

Daily Headline - global.abi.org - 08/16/2018 - 22:39 - 0 comments

Pakistan Should Beware an Easy Chinese Bailout

As former cricket star Imran Khan prepares to take his oath as Pakistan’s new prime minister Saturday, there’s one thing he must be clear about: Pakistan may be China’s friend at the moment, but the relationship could quickly turn sour. In the next month ...

Daily Headline - global.abi.org - 08/16/2018 - 22:41 - 0 comments

The Man Who Triggered a $10 Billion Commodity Collapse Finally Speaks

Arnaud Vagner has been a mystery for more than three years. Noble Group, once one of the world’s biggest commodity trading houses, characterized him as a disgruntled former junior employee behind a series of reports by Iceberg Research, an anonymous grou ...

Daily Headline - global.abi.org - 08/15/2018 - 23:03 - 0 comments

Qatar Comes to Rescue as Turkey Moves to Avert Financial Crisis

3-1/2-hour meeting with Erdogan in Ankara on Wednesday. It follows a string of urgent steps Erdogan has taken ...

Daily Headline - global.abi.org - 08/15/2018 - 23:08 - 0 comments

RCom Sale Talks Mark End of an Era for Younger Ambani

Anil Ambani’s Reliance Communications is in discussions with TPG, Blackstone and other bidders over the sale of its remaining telecommunications assets in a deal that would mark the tycoon’s formal exit from India’s telecommunications sector, the Finan ...

Daily Headline - global.abi.org - 08/15/2018 - 23:10 - 0 comments

China Local Government Group Repays Defaulted Bond

A Chinese local-government investment platform that defaulted on a Rmb500m bond payment on Monday has belatedly repaid the debt, according to local media, the Financial Times reported. China Business News, a respected Chinese newspaper, cited unnamed ...

Daily Headline - global.abi.org - 08/15/2018 - 23:11 - 0 comments

An Unexpected Default in China Shakes Confidence in LGFVs

A rally in bonds from China’s local government finance vehicles, sparked by the recent easing measures, may be at risk of losing momentum after a surprise bond default by a state-owned firm on Monday, Bloomberg News reported. Xinjiang Production Construc ...

Daily Headline - global.abi.org - 08/14/2018 - 21:01 - 0 comments

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