By Wayne Robinson | 20 November 2020 Print giant Ovato has passed the first hurdle in its restructuring plan, gaining court approval to present its plan to take the company forward from its current difficulties to its creditors and members, with a vote in a fortnight’s time. Rescue plan for Ovato: Michael Hannan and Kevin…
With Zambias recent default on debt repayment and global concern over pandemic-related economic impacts, the G20 meeting in Riyadh wrapped up Sunday with a commitment through June for the Debt Service Suspension Initiative (DSSI) to allow developing nations to defer debt payments. The coronovirus pandemic is not only the greatest health crisis of our time,…
By Davide Barbuscia, Andrea Shalal 3 Min Read DUBAI/WASHINGTON (Reuters) – Leaders of the worlds 20 biggest economies on Sunday endorsed a plan to extend a freeze in official debt service payments by the poorest countries to mid-2021 and backed a common approach for dealing with their debt problems. FILE PHOTO: Projection of a “Family…
The Pandemic accelerated the mess. ByNick Corbishley, forWOLF STREET: Construction and real-estate development giant and funds management firm Grocon Group which built some of Australias most iconic modern buildings, including three of its five tallest skyscrapers, as well as major projects in India and Abu Dhabi declared insolvency on Friday, according to ABC News, and…
By Reuters Staff 1 Min Read WASHINGTON (Reuters) – The head of the International Monetary Fund on Sunday called for prompt and effective implementation of a new G20 framework set up to help the worlds poorest countries reach permanent debt relief, but said other countries needed help as well. It is critical to operationalize this…
PUBLISHED: 19:31 22 November 2020 Angus Williams The Manor House pub in Wortham which has recently shut down. (C) Archant 2020 The former director of a popular pub and takeaway forced the business into liquidation after he took a 100,000 loan from the business and did not repay it, according to liquidators. Email this article…
BRUSSELS (Reuters) – Leaders of the 20 biggest economies on Saturday vowed to ensure a fair distribution of COVID-19 vaccines, drugs and tests around the world and do what was needed to support poorer countries struggling to recover from the coronavirus pandemic. We will spare no effort to ensure their affordable and equitable access for…
Luxury fashion brand alice McCALL has now gone into voluntary administration, sadly following a long line of retailers that have had to shut up shop due to COVID-19. Fashion designer behind the brand Alice McCall herself gave a statement to 9News discussing her need to edit down the business and rework into a more sustainable…
The Ministry of Economic Affairs has estimated that Pakistan can potentially get relief worth $915m during January-June 2021. photo: reuters ISLAMABAD: Pakistan has so far secured $800 million worth of debt freeze deals from 14 members of the richest club of G-20 countries, as it still awaits ratification by remaining six countries including Saudi Arabia…
World News Raya Jalabi Ryan Woo Andrea Shalal BEIJING/DUBAI/WASHINGTON (Reuters) – Leaders of the 20 biggest economies on Saturday vowed to ensure a fair distribution of COVID-19 vaccines, drugs and tests around the world and do what was needed to support poorer countries struggling to recover from the coronavirus pandemic. Media watches Saudi King Salman…