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Bankrupt Baha Mar In Bahamas Secures Interim Financing

The bankrupt $3.5 billion Baha Mar mega resort in the Bahamas secured up to $30 billion in interim financing on Wednesday, but it was unclear when construction on the stalled project would resume, Reuters reported. The resort, bankrolled and built by the ...

Daily Headline - global.abi.org - 07/01/2015 - 22:30 - 0 comments

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 series of construction delays, funding squabbles, lagging ins ...

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

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

China’s Bocom Sets Template For Reform At State-Owned Banks

China has given its fifth-largest bank the green light to pursue a market-based reform plan as Beijing seeks to improve efficiency at state-owned companies and counteract a far-reaching economic slowdown, the Financial Times reported. But privatisati ...

Daily Headline - global.abi.org - 06/17/2015 - 22:58 - 0 comments

Hank Paulson Says China Risks ‘Real Damage’ To Economy

The Chinese government risks “real damage” to the economy if it does not hasten reform of China’s state-owned enterprises and overhaul a debt-fuelled growth model, Hank Paulson has warned, the Financial Times reported. For more than two decades the f ...

Daily Headline - global.abi.org - 06/14/2015 - 19:30 - 0 comments

Idle Home Builders Hold China’s Economy Back

Renhe Commercial appears to have a well-fortified business model: It builds air raid shelters across China for the government, outfitting them as underground shopping malls for use during peacetime, the International New York Times reported. But even ...

Daily Headline - global.abi.org - 06/11/2015 - 22:43 - 0 comments

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