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LDK Files Bankruptcy in U.S. Court on China Solar Glut

LDK Solar Co., the Chinese solar-cell maker that defaulted on its bonds this year, filed for bankruptcy in the U.S. to help carry out restructurings already under way in Hong Kong and the Cayman Islands, Bloomberg News reported. Xinyu, China-based LDK fi ...

Daily Headline - global.abi.org - 10/21/2014 - 21:27 - 0 comments

Before a Bailout, E.C.B. Minutes Showed Doubts Over Keeping a Cyprus Bank Afloat

As the Cypriot economy reeled from the collapse of its second-largest bank in 2013, the European Central Bank faced a thorny question: Should it keep the institution, Cyprus Popular Bank, alive with short-term loans or pull the plug? By many financial me ...

Daily Headline - global.abi.org - 10/19/2014 - 22:31 - 0 comments

Debt-Hungry Philippine Firms Exposed as Markets Falter

International Monetary Fund Chief Christine Lagarde lamented last week that the world has “too little economic risk taking, and too much financial risk taking.” In the Philippines, there might be both, Bloomberg News reported. Companies in the Southeast ...

Daily Headline - global.abi.org - 10/16/2014 - 22:09 - 0 comments

China Easing Home Loans No Panacea for Sliding Market

China is lowering down payment requirements and discounting mortgages as declining housing sales put a drag on the economy, Bloomberg News reported. After four years of government restrictions to cool housing prices that had tripled since 2000, the centr ...

Daily Headline - global.abi.org - 10/15/2014 - 22:16 - 0 comments

Kazakhstan's Alliance Bank Says Near Completion Of Debt Restructuring, Merger

Kazakhstan's Alliance Bank, majority owned by the country's sovereign wealth fund, is close to completing a $1.2 billion debt restructuring and a merger with two other banks, its chief executive said on Wednesday. Timur Issatayev, who has been ...

Daily Headline - global.abi.org - 10/15/2014 - 22:19 - 0 comments

Aqua Sol Hotel Group Under Receivership

Hotel-management chain Aqua Sol, owner and administrator of 15 hotels in Cyprus, Rhodes and Crete, along with its nine subsidiaries has been placed under receivership for its failure to comply with its contractual obligations with the Bank of Cyprus, it ...

Daily Headline - global.abi.org - 10/14/2014 - 22:04 - 0 comments

Italy's Lucchini To Ask India's JSW Steel To Lift Its Offer

Troubled steelmaker Lucchini said on Tuesday it planned to ask India's JSW Steel to raise its offer of less than $100 million for the Italian company's core assets in Piombino on the Tuscan coast, Reuters reported. Lucchini, Italy's second ...

Daily Headline - global.abi.org - 10/14/2014 - 22:05 - 0 comments

Agile Property Holdings of China Seeks Loan Extension

The Chinese developer Agile Property Holdings, battling an industry slowdown and speculation about ties to China’s former security chief, said that it was in talks with banks about extending a bridge loan and that the founder’s family would commit to len ...

Daily Headline - global.abi.org - 10/13/2014 - 22:00 - 0 comments

China Sets Rules For Local Debt Revamp

China has taken a big step towards the resolution of its mounting local government debt burden with the introduction of a legal framework allowing cities and provinces to issue debt directly, Reuters reported. Last week's regulations make it clear t ...

Daily Headline - global.abi.org - 10/09/2014 - 22:37 - 0 comments

Winding Down Failing Banks: Armageddon Delayed

“We will not kick you when you are down, at least not for a couple of days”: that is the gist of a putative deal struck by 18 global banks this week, which agreed not to pull abruptly out of contracts with each other if one of them hits the buffers. As m ...

Daily Headline - global.abi.org - 10/09/2014 - 22:38 - 0 comments

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