By Reuters Staff 2 Min Read FILE PHOTO: World Bank President David Malpass responds to a question from a reporter during an opening press conference at the IMF and World Bank’s 2019 Annual Fall Meetings of finance ministers and bank governors, in Washington, U.S., October 17, 2019. REUTERS/Mike Theiler BERLIN (Reuters) – The COVID-19 pandemic…
Liquidator Nicholas Crouch, who advised the small business ombudsmans insolvency review earlier this year, likens it to doing a 10-year apprenticeship. You must have the smartest mind on the job for the strategic plan otherwise mistakes happen and those mistakes are borne by the mums and dads in this environment, the small business owner, he…
DUBAI : AE construction giant that built the world’s tallest building the Burj Khalifa, Arabtec formally announced that it was going into liquidation after stakeholders found the financial situation “untenable”. “In recent years, limited liquidity in the construction sector impacted the progress of Arabtec’s projects and this has been exacerbated by the effects of COVID-19,”…
Zambia is running out of money to pay its debts. It has asked bondholders for breathing space so that it can put a restructuring plan in place. The copper-rich African state is at risk of being the first country to default on its debts since the start of the coronavirus pandemic. Not the last though.…
Shareholders of United Arab Emirates-based Arabtec Holding, which helped build the worlds tallest skyscraper, voted to dissolve the debt-laden firm in a move likely to threaten thousands of jobs and scores of suppliers and sub-contractors in the Gulf region. Construction companies that sprang up more than a decade ago as a building bonanza swept Dubai…
Express News Service SHIVAMOGGA: TheCovid pandemic has hit the Charaka Womens Multipurpose Industrial Cooperative Society, forcing it to declare insolvency as it could not repay the debt. Founded by social activist Prasanna Heggodu in 1994, the Society at Bheemanakone in Sagar taluk of Shivamogga district was empowering around 800 handloom weavers, natural dye manufacturers and…