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China's Big Ambitions Stumble At Bahamas Resort

China's push to extend its influence in the Western Hemisphere has hit an embarrassing setback at an unfinished, $3.5 billion resort and casino project in the Bahamas, Reuters reported. A ... setback at an unfinished, $3.5 billion resort and casino project in the Bahamas, Reuters reported. ...

Daily Headline - global.abi.org - 06/30/2015 - 22:20 - 0 comments

China Graft Probe Uncovers Falsified Revenues At Large SOEs

China’s state auditor has uncovered falsified revenues and profits in the accounts of some of the country’s biggest state-owned companies, as Beijing broadens its assault on official corruption, the Financial Times reported. The National Audit Office ...

Daily Headline - global.abi.org - 06/29/2015 - 21:59 - 0 comments

Xi Hosts 56 Nations at Founding of Asian Infrastructure Bank

At a ceremony imbued with quiet triumph at the Great Hall of the People, China’s president, Xi Jinping, hosted 56 member countries on Monday for the founding of a Chinese-led infrastructure bank for Asia, including major American allies from Asia and Eur ...

Daily Headline - global.abi.org - 06/29/2015 - 22:00 - 0 comments

People’s Bank of China Cuts Interest Rates

After more than a week of a brutal selloff in Chinese stocks, the country’s central bank on Saturday took a rare easing step, cutting both its benchmark interest rates and the amount of reserves certain banks are required to hold, The Wall Street Journ ...

Daily Headline - global.abi.org - 06/28/2015 - 20:30 - 0 comments

China Moves To Scrap Long-Held Cap On Loan-To-Deposit Ratio

China is to scrap bank lending caps in a bid to boost its slowing economy with an injection of credit – further liberalising the once tightly controlled sector, the Financial Times reported. On Wednesday, China’s State Council issued a draft proposal ...

Daily Headline - global.abi.org - 06/25/2015 - 22:40 - 0 comments

Companies Avoid Paying $200 Billion in Tax

Businesses avoid paying $200 billion annually in taxes by channeling their overseas’ investments through offshore financial hubs, a United Nations agency said Wednesday, The Wall Street Journal reported. The estimate by the United Nations Conference ...

Daily Headline - global.abi.org - 06/24/2015 - 23:02 - 0 comments

India Infrastructure: Built On Debt

Welcome to what is likely India’s largest ghost city, which extends across five expansive parcels of land along the highway adjacent to the racetrack. What was meant to be the crowning achievement of Jaypee Group and Jay Prakash Gaur, its 85-year-old pat ...

Daily Headline - global.abi.org - 06/22/2015 - 23:08 - 0 comments

Beijing Tries an Old Script in Debt Drama

China is bailing out the nation’s heavily indebted local governments, relying on trusted methods to keep its financial system stable despite promises to allow market forces to play a greater role, The Wall Street Journal reported. Beijing is permitti ...

Daily Headline - global.abi.org - 06/22/2015 - 23:09 - 0 comments

Airbus Says Weighing Up Both Skymark Rescue Plans

Airbus said on Thursday it was studying two proposals to revive Skymark and would favour any plan that both gives the bankrupt Japanese airline a future and takes account of the planemaker's interests, Reuters reported. Alongside aircraft leasing fi ...

Daily Headline - global.abi.org - 06/18/2015 - 21:00 - 0 comments

Japan Government Takes On Its Deficit-Ridden Finances

Prime Minister Shinzo Abe is expected to unveil a plan to balance Japan’s budget in five years, a move that underscores Tokyo’s resolve to improve its deficit-ridden finances even as it continues to pursue costly economic-stimulus programs, The Wall St ...

Daily Headline - global.abi.org - 06/17/2015 - 22:54 - 0 comments

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