With the passage of the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA) on Thursday, Puerto Rico has narrowly avoided what was expected to be its largest economic calamity yet. The bill prevents the island from being sued for not paying the nearly $2 billion in bond payments that came due on Fridaya possibility…
Adani Transmission and GMR Energy have entered into an agreement, where the former will acquire 74 percent stake of Maru Transmission Service and 49 percent shares of Aravali Transmission Service of GMR Energy. Both the assets are in Rajasthan and are operating with an average capacity utilisation of over 99.90 percent. The deal value for…
How much is too much when it comes to college debt? Obviously — or maybe not so obvious to some — you don’t want to borrow the entire cost. Gifts to grads might help but many college students still juggle student loans.(Photo: Susan Tompor) Story Highlights Some select a less expensive college — or one…
Cash-strapped schools are using needs-based Gonski funding money to pay off outstanding debts. The revelations, contained in documents obtained by The Age, followed reports that one-in-four Victorian schools were in deficit and principals were struggling to balance their books. Victorian Principals Association (VPA) president, Gabrielle Leigh, told The Educator that it was a tragic…
Updated June 30, 2016 5:45 p.m. ET WASHINGTONPresident Barack Obama signed bipartisan debt-relief legislation for Puerto Rico on Thursday, one day before the islands government said it would default on major debt payments. The legislation wont avoid Fridays imminent default. Instead, it will give the territory a stay from litigation that could have led a judge to order…
The U.S. Senate gave solid approval on Wednesday to a relief plan to help Puerto Rico address its $70 billion debt, sending the measure to President Obama for his signing into law just ahead of a possible default by the U.S. territory on its next debt payment. The measure passed the Senate on a vote…
SINGAPORE The sole breadwinner for her five schoolgoing children, Mdm Tan already struggles to manage the familys household expenses and bills with her monthly salary as an ad hoc sales promoter; she can hardly save for rainy days. But under a new Family Development Programme by the Methodist Welfare Services (MWS), the 34-year-old could receive…
Puerto Rico has $70 billion in debt. The measure passed by the Senate sets up a fiscal control board for the island, and helps it avoid defaulting on a critical $2 billion debt payment due Friday. Read the full article at: http://www.npr.org/2016/06/30/484129397/senate-passes-bill-to-help-puerto-rico-restructure-debt
JOHANNESBURG Former Congress of South African Trade Unions (Cosatu) head Zwelinzima Vavi says the call by some parts of the African National Congress (ANC), for people to help President Jacob Zuma pay his Nkandla debt, shows that Zuma has become the party and the ANC has become Zuma. Both the ANC in KwaZulu-Natal and the party’s…
Democratic presidential candidate Hillary Clinton has gotten some well-deserved rebukes for the limited college-debt relief plan she unveiled Tuesday in Denver for graduates who start new businesses. If Clinton wants to give away money to people who will eventually be wealthy, this proposal is a great idea, writes Alexander Holt in Inside Higher Ed. “The…