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Chinese Bank Could Force Incomplete Bahamas Resort To Cut 2,000 Jobs

The troubled $3.5 billion Baha Mar resort project in the Bahamas is preparing to wind down operations and cut more than 2,000 jobs if the developer fails to strike a deal quickly with its main lender, China's Export Import Bank, according to U.S. ba ...

Daily Headline - global.abi.org - 07/16/2015 - 21:14 - 0 comments

Short-Term Fixes May Impede China’s Long-Term Goals

China’s feat in keeping growth from slipping below 7% and averting a stock-market collapse eases short-term pressure on policy makers but is likely to make Beijing’s long-term goals harder to reach, The Wall Street Journal reported. Since November, B ...

Daily Headline - global.abi.org - 07/15/2015 - 22:38 - 0 comments

Hidden Strains Lurk in China Job Market, IMF Says

China’s jobless data suggest weakening growth hasn’t dragged down employment. But a new study by the International Monetary Fund points to factors that could obscure signs of strain in the country’s job market, The Wall Street Journal reported. China ...

Daily Headline - global.abi.org - 07/13/2015 - 20:53 - 0 comments

China’s Incendiary Market Is Fanned by Borrowers and Manipulation

At the height of the frenzy for Chinese stocks, just about every company was a winner, the International New York Times DealBook blog reported. An online gaming start-up was valued at $7 billion. Shares in a fireworks company that had moved into fina ...

Daily Headline - global.abi.org - 07/12/2015 - 22:26 - 0 comments

Developer Of Bahamas Resort Accuses Chinese Of Sabotage, Fraud

The developer of the unfinished $3.5 billion Baha Mar mega resort in the Bahamas has accused China Construction America of cutting power to the work site, inflating expenses and trying to steal documents stuffed in suitcases, U.S. court filings show. Chi ...

Daily Headline - global.abi.org - 07/12/2015 - 22:27 - 0 comments

Chinese Government Struggles in Attempt to Stem Distress in Stock Market

The Chinese government struggled in vain Wednesday to prevent the distress in the country’s stock markets from spreading, as it openly fought market forces it has pledged to give a larger role, The Wall Street Journal reported. Early Wednesday, the C ...

Daily Headline - global.abi.org - 07/08/2015 - 18:04 - 0 comments

Beijing’s Response to Stock Selloff Reveals Deep Insecurity

Far more than simply a market crisis, the Chinese leadership views turmoil on the Shanghai stock exchange as a potential security threat to the regime, The Wall Street Journal reported. That helps explain the barrage of measures unleashed by financia ...

Daily Headline - global.abi.org - 07/07/2015 - 17:49 - 0 comments

Chinese Firm Blames Bankruptcy Of Bahamas Resort On Developer

The Chinese construction company building the unfinished $3.5 billion Baha Mar resort in the Bahamas on Tuesday accused the developer of mismanaging the project's design and not securing adequate financing, Reuters reported. China Construction Ameri ...

Daily Headline - global.abi.org - 07/07/2015 - 17:50 - 0 comments

Speculators Run Wild On Chinese Stock Markets

President Xi Jinping of China has crushed opposition by silencing and often locking up anyone who dares defy the government. But that aura of invincibility has been shaken by stock market speculators, who have made a mockery of efforts to halt a steep sl ...

Daily Headline - global.abi.org - 07/06/2015 - 18:49 - 0 comments

China Injects Liquidity In Attempt To Reassure Markets

Chinese authorities have ramped up their attempts to restore investor confidence in the country’s tumbling stock markets, setting the stage for another turbulent week of trading on the Shanghai and Shenzhen stock exchanges, the Financial Times report ...

Daily Headline - global.abi.org - 07/05/2015 - 16:47 - 0 comments

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