Gujarat NRE Coke is one of the companies affected by the recent ordinance which bars promoters from bidding for stressed assets unless they repay the interest and principal amount. Mumbai: The chairman and managing director of Kolkata-based Gujarat NRE Coke Ltd, Arun Kumar Jagatramka, has criticised bankers and regulators for allowing viable companies to go…
GEORGE HEARD/STUFF A sign in central Christchurch puts a positive spin on the revenues raised – or lost, depending on your perspective – from gaming machines. Millions of dollars each year are flowing from some of the poorest communities in Christchurch into the hands of clubs and charities via pokies scattered around the city. A case…
2.38am AEDT02:38 ITVs Joel Hills has more details of the Carillion witness statement, and its very bad news for creditors: Joel Hills (@ITVJoel) Witness statement filed at High Court by Carillion CEO is doing the rounds. Its fascinating. Reveals that expected recovery for creditors in liquidation is 0.8p – 6.6p in the £. Ouch. January…
(Adds Kolomoisky comment, quote from central bank deputy governor, background) By Natalia Zinets KIEV, Jan 16 (Reuters) – Ukraines central bank said on Tuesday an investigation into the countrys largest lender, PrivatBank, which was taken into state control in 2016, showed it had been used for money-laundering and shady deals over the course of at…
MUMBAI — Reliance Communications, which late last year exited the consumer telecom business as part of a group restructure, is investing $600 million to lay a 68,000km undersea cable spreading up to Italy and Hong Kong, with its partner China’s Alibaba Group Holding and five others funding half of the project. The company was rescued from the…
The good news is small businesses are currently being charged the lowest interest rates they have paid since the Reserve Bank of Australia started collecting this data back in 1993. According to the Australian Bankers’ Association’s latest figures, small businesses are paying $9 billion less in interest now compared to 2011. Low interest rates are…
Gill Plimmer, Miles Johnston and Jim Pickard January 16, 2018 Carillion was left with just £29m in cash when it collapsed, according to a document that reveals the extent of the construction companys financial black hole. Papers seen by the Financial Times show the insolvent construction company owed £1.29bn to its banks, including a £790m…
(Adds details, background) KIEV, Jan 16 (Reuters) – Ukraines central bank said on Tuesday an investigation into PrivatBank, the countrys largest lender which was taken into state control in 2016, showed it had been used for money-laundering and shady deals over at least a decade. Representatives of PrivatBanks former main shareholders did not immediately provide…
TWO of the UK’s leading debt charities have warned those seeking help not be fooled by websites that appear at the top of Google search. StepChange and the Money Advice Trust said the number of sites pretending to be official organisations and using paid-for Google Ads was sparking fears that those struggling with debt are…
(Adds details, background) KIEV, Jan 16 (Reuters) – Ukraine’s central bank said on Tuesday an investigation into PrivatBank, the country’s largest lender which was taken into state control in 2016, showed it had been used for money-laundering and shady deals over at least a decade. Representatives of PrivatBank’s former main shareholders did not immediately provide…