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Cyprus Seeks Buyer For Failed Bank

Cyprus plans to seek a buyer for the local operation of Federal Bank of the Middle East, a Lebanese-controlled lender, which has been placed under administration by the island’s central bank following allegations of money-laundering, the Financial Time ...

Daily Headline - global.abi.org - 07/23/2014 - 21:26 - 0 comments

Mt Gox Creditors Want Payouts In Bitcoins

A group of creditors of Mt Gox, the collapsed Bitcoin exchange, is threatening a shake-up of bankruptcy proceedings in Tokyo unless the administrator settles its claims in the virtual currency, the Financial Times reported. Once the world’s largest t ...

Daily Headline - global.abi.org - 07/23/2014 - 21:26 - 0 comments

Japan Trims Economic Growth Forecast

The Japanese government trimmed its economic-growth forecast for the current fiscal year ending in March but said that it won't give up on its long battle to bring its debt issuance under control, The Wall Street Journal reported. The world' ...

Daily Headline - global.abi.org - 07/22/2014 - 21:47 - 0 comments

China Debt Tops 250% Of National Income

China’s total debt load has climbed to more than two and a half times the size of its economy, underscoring the difficult challenge facing Beijing as it seeks to spur growth without sowing the seeds of a financial crisis, the Financial Times reported ...

Daily Headline - global.abi.org - 07/21/2014 - 18:48 - 0 comments

Government Fund With Majority Malaysia Airlines Stake Considers Taking It Private

The government fund that owns a majority stake in Malaysia Airlines is increasingly leaning toward taking the company private, after the carrier lost a second plane in five months, according to people familiar with the matter. Khazanah Nasional Bhd., Mal ...

Daily Headline - global.abi.org - 07/20/2014 - 17:49 - 0 comments

Chinese Banks Halt Experimental Yuan-Remittance Program

China's major banks have halted an experimental program, sanctioned by the country's central bank, that helped citizens transfer large sums overseas despite government capital controls, according to people with knowledge of the matter, The Wa ...

Daily Headline - global.abi.org - 07/14/2014 - 19:54 - 0 comments

Bank of China Denies Report Alleging Money Laundering Aid

Bank of China Ltd. denied a report by the state broadcaster alleging it broke the nation’s foreign-exchange rules by providing services that help clients move “dirty money” abroad, Bloomberg News reported. Reports by China Central Television and other me ...

Daily Headline - global.abi.org - 07/09/2014 - 22:32 - 0 comments

China Should Let More Ailing Firms Fail - Deputy Central Bank Governor

China should let more ailing firms go bankrupt to help improve economic mechanisms rather than allow them to get government-led bailouts, a deputy central bank governor said on Tuesday, Reuters reported. The risk of corporate failures is rising as econom ...

Daily Headline - global.abi.org - 07/09/2014 - 00:18 - 0 comments

Mt. Gox Pays Parent as Liquidation Continues

Further draining a pool of assets that will eventually be distributed to its creditors, defunct bitcoin exchange Mt. Gox has paid $188,763 to Tibanne, its parent company, as a part of its liquidation, The Wall Street Journal reported. A heavily black ...

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

Huge Claim Sees Daehan File For Court Receivership

Medium-size South Korean yard Daehan Shipbuilding, which has a huge bulker and products-tanker orderbook involving high-profile owners, has filed for court receivership, TradeWinds reported. The DSME-managed builder’s application to the Gwangju District ...

Daily Headline - global.abi.org - 07/06/2014 - 22:01 - 0 comments

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