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India’s Narendra Modi Defends Efforts to Shake Up Economy

Indian Prime Minister Narendra Modi took on critics who accuse him of failing to pursue “big bang” liberalization measures to revamp his country’s economy, saying he has set a path for accelerated growth that India’s states now need to help navigate. In ...

Daily Headline - global.abi.org - 05/26/2016 - 00:57 - 0 comments

Dim Sum Debt Revival Hinges on Yuan Stability Amid Default Risks

A four-month rally in offshore yuan bonds has helped issuance almost double this quarter. Further gains may depend on whether China can limit currency losses and defaults, Bloomberg News reported. Offerings of yuan debt outside China jumped to 23.8 billion yuan ($3.6 billion), from 12.9 billion yuan in ...

Daily Headline - global.abi.org - 05/25/2016 - 00:43 - 0 comments

Kaisa’s Debt Restructuring Passes Critical Stage

Kaisa Group, the Shenzhen-based property developer which defaulted on its US dollar-denominated bonds, has reached a milestone in its yearlong debt restructuring negotiations after a plan was formally approved by bondholders, the South China Morning Po ...

Daily Headline - global.abi.org - 05/24/2016 - 00:25 - 0 comments

China Steps Up War On Banks’ Bad Debt

Beijing has stepped up its battle against bad debt in China’s banking system, with a state-led debt-for-equity scheme surging in value by about $100bn in the past two months alone, the Financial Times reported. The government-led programme, which for ...

Daily Headline - global.abi.org - 05/22/2016 - 21:07 - 0 comments

Container Shipping Lines Mired In Crisis

The container shipping industry, a vital link in the world’s supply of manufactured goods, is suffering what could well turn out to be the deepest and longest downturn in its 60-year history, the Financial Times reported. Container shipping lines hav ...

Daily Headline - global.abi.org - 05/20/2016 - 09:37 - 0 comments

Stepson of Malaysia’s Najib Razak Bought $34 Million London House With 1MDB Funds

The stepson of Malaysian Prime Minister Najib Razak bought a £23.25 million ($33.6 million) house in central London in 2012 with money originating from the troubled Malaysian state investment fund 1Malaysia Development Bhd., according to people familiar ...

Daily Headline - global.abi.org - 05/20/2016 - 09:38 - 0 comments

China’s Debt Misery Finds Singapore

Chinese banks are justifiably on investors' radar for shuffling some of their more wobbly credit risk into wealth management products. However, when it comes to misery camped off balance sheet, the People's Republic has company elsewhere in Asi ...

Daily Headline - global.abi.org - 05/20/2016 - 09:39 - 0 comments

China Plans to Get Tough on Corporate Tax Evasion

China is joining an international effort to tackle tax evasion, with plans to require multinationals to disclose more detailed information on their overseas affiliates, according to taxation consultants who advised the government on the new rules, The ...

Daily Headline - global.abi.org - 05/18/2016 - 21:01 - 0 comments

In Japan’s Slow Economy, Rare Price Rise Prompts Surplus of Remorse

Increasing prices are a big deal in Japan. The country’s sluggish economy means that the cost of most things has not risen in 20 years, and almost any increase makes headlines, the International New York Times reported. Consumer prices are a painful ...

Daily Headline - global.abi.org - 05/18/2016 - 21:02 - 0 comments

Beijing’s Supply-Side Struggle

Xi Jinping has called for the Communist Party to “resolutely push forward supply-side structural reform,” the People’s Daily reported Monday. Last week the Party mouthpiece carried two manifestos for reform, an interview with an anonymous “authoritative ...

Daily Headline - global.abi.org - 05/17/2016 - 22:22 - 0 comments

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