As of April 8 2024, the company operating virtual reality immersive collaboration platform provider Glue declared bankruptcy under a decision by the District Court of Helsinki.  

The operating firm is selling assets, including the Glue platform. Unless a new company purchases the platform and continues its operation, Glue may shut down for good – “despite our best efforts to prevent this outcome, we were unable to find a timely solution,” the firm noted.  

Glue states that across the coming two weeks, the firm is exploring options to secure the platform’s future. However, if Glue does not find a suitable operating firm, in that case, the platform will close after those two weeks or…

ISLAMABAD:

The World Bank has recommended that Pakistan establish a permanent Debt and Risk Management Committee (DRMC) to mitigate growing fiscal risks and address the fragmentation in debt management. The committee would be accountable to Parliament, ensuring transparency and accountability in loan-related decisions.

The Washington-based lender has urged the finance ministry to introduce secondary legislation to address the “high debt burden,” according to…

(InvestigateTV) — Bankrate found the average credit card interest rate today is 20.27%, making it very expensive to carry credit card debt.

Sara Rathner with NerdWallet said those carrying a lot of credit card debt may want to consider debt consolidation.

She said those with good credit could qualify for a balance transfer card. This would allow them to move debt to a card with no interest for a period of time.

There are two things consumers need to understand about the balance transfer process, Rathner said.

“One is that you’ll owe typically a balance transfer fee three to five percent of the balance you transfer so you’ll want to keep that in mind,” she explained. “And the other thing is, once that no interest promotion period…

New Delhi, Jan 13 (PTI) JSW Energy on Monday announced it has emerged as a successful applicant to acquire KSK Mahanadi Power Company, which owns 3,600 MW thermal power plants, under insolvency proceedings.

This follows the approval by the Committee of Creditors, with the closure of the transaction subject to the necessary regulatory approvals from the National Company Law Tribunal and Competition Commission of India, a company statement said.

JSW Energy has been declared a successful applicant and received a letter of intent (LoI) from the Resolution…

JSW Energy Limited has received the Letter of Intent (LoI) for its resolution plan to acquire KSK Mahanadi Power Company Limited (KMPCL). The announcement comes after the approval by KMPCL’s Committee of Creditors under the corporate insolvency resolution process of the Insolvency and Bankruptcy Code, 2016. The closure of the transaction is now subject to regulatory clearances from the National Company Law Tribunal (NCLT) and the Competition Commission of India (CCI).

JSW Energy offered Rs 15,985 crore to financial creditors, outbidding Adani Power and NTPC. Adani Power was the second highest bidder with Rs 15,885 crore. The Chattisgarh-based coal-based power company owed Rs 32,248 crore to the creditors including Rs…

At casinos, the odds are never in a punter’s favour.

Now one of Australia’s biggest casino operators is facing the prospect of losing it all, with a top analyst predicting Star Entertainment Group has a 50 per cent chance of going into administration.

That is odds of 1:1 — the same as flipping a coin playing two-up on Anzac Day.

“We think it is pretty unlikely Star is going to be able to trade itself out of this predicament.”

Leaders in the two states where Star runs casinos are now talking about contingency plans for workers, although the company’s issues are so publicly toxic that talk of help is carefully worded.