Results for Asia
- Chinese Default Exposes Creditor Anger At Political Interference
A series of bond defaults in north-east China is exposing creditors’ frustration at the lack of a transparent process for resolving bad debt as cash-strapped local governments step back increasingly from taxpayer bailouts, the Financial Times reporte ...
Daily Headline - global.abi.org - 07/27/2016 - 22:04 - 0 comments
- China Fishery’s Bankruptcy Bid Deepens Bond Pain on Peru Concern
Bondholders are suffering as a fishmeal supplier’s bankruptcy filing flags doubts among lenders that it will extract enough value from its assets in Peru to repay creditors, Bloomberg News reported. China Fishery Group Ltd. filed for protection under Cha ...
Daily Headline - global.abi.org - 07/27/2016 - 22:12 - 0 comments
- Singapore Vows More ‘Intrusive’ Bank Probes After 1MDB Scandal
money diverted from 1MDB, according to US prosecutors, who allege that more than $3.5bn was siphoned off ...
Daily Headline - global.abi.org - 07/25/2016 - 22:13 - 0 comments
- Billionaire’s Fund Says India Bad Loan Battle to Outlast Rajan
The head of a credit fund controlled by Indian billionaire Uday Kotak said the government’s push to rid banks of bad loans will outlast the departure of a central bank governor who battled the problem, Bloomberg News reported today. Reserve Bank of India ...
Daily Headline - abi_admin - 07/22/2016 - 12:17 - 0 comments
- Turkey Unrest Deals New Blow as Banks Struggle With Bad Debt
Turkey’s failed coup is dealing yet another blow to the nation’s banks, which are already under pressure from rising bad debts and a slump in tourism, Bloomberg News reported yesterday. Istanbul-based lenders Yapi ve Kredi Bankasi AS and Sekerbank TAS ca ...
Daily Headline - abi_admin - 07/21/2016 - 12:36 - 0 comments
- Singapore Seeks U.S. Chapter 11 Prowess in Bankruptcy Reform
Singapore is seeking to enhance its position as a center for debt restructuring by giving its insolvency law some of the powers of the U.S. bankruptcy code’s chapter 11, just as companies worldwide default on bonds at the fastest pace since the global fi ...
Daily Headline - abi_admin - 07/20/2016 - 13:39 - 0 comments
- Brookfield Teams Up with Indian Lender on Distressed Assets
Asset manager Brookfield has put $1 billion into a joint venture with India’s biggest bank to recapitalise and provide financial support to distressed corporate clients, the Financial Times reported today. The State Bank of India (SBI) announced that ...
Daily Headline - abi_admin - 07/20/2016 - 13:40 - 0 comments
- Commentary: China's Local Debt Problem Goes Global
A very local problem in China is being exported at an alarming rate, according to a Bloomberg commentary yesterday. Debt from special-purpose vehicles linked to municipal and provincial governments -- leverage that central authorities are trying to extin ...
Daily Headline - abi_admin - 07/20/2016 - 13:41 - 0 comments
- Banks With Assets No One Wants Undercut India’s Debt Recast Plan
From deodorant makers to steel mills, Indian banks are getting stuck owning assets they are finding hard to sell under a plan where they exchange soured loans for equity, Bloomberg News reported yesterday. India’s banks have converted or are seeking to c ...
Daily Headline - abi_admin - 07/19/2016 - 13:36 - 0 comments
- Turkey Cuts Key Interest Rate After Failed Coup
borrowing rate at 7.25 percent. After the decision, Turkey’s lira extended its losses, trading 0.1 percent ...
Daily Headline - abi_admin - 07/19/2016 - 13:39 - 0 comments