(Nov 26): Thai banks’ non-performing loans last quarter jumped to their highest level in three years as troubled corporate and individual borrowers continued to struggle to repay debt, though the Bank of Thailand announced progress in talks with the finance ministry on relief measures.

Some 2.97% of commercial banks’ outstanding loans were non-performing at the end of September, up from 2.84% in the previous quarter, Bank of Thailand assistant governor Suwannee Jatsadasak told a press conference Tuesday. That was the highest ratio since the third quarter of 2021, she said.

Prime Minister Paetongtarn Shinawatra has pledged measures to help reduce high household debt levels that are fueling bad loans and making banks reluctant to extend…

Three million Australians will see $3 billion wiped from their student debt after the Albanese Government passed legislation through the Parliament tonight.

This legislation fixes the way indexation is calculated on student debt and will be backdated to 1 June 2023.

The Universities Accord (Student Support and Other Measures) Bill 2024 caps the HELP indexation rate to the lower of either the Consumer Price Index (CPI) or the Wage Price Index (WPI).

This change applies to HELP, VET Student Loan, Australian Apprenticeship Support Loan and other student support loans.

This will benefit all Australians with a student debt, fixing last year’s spike in the indexation of 7.1 per cent and preventing indexation from outpacing wages in the…

The ridiculous co-opting of American policy fads by the Albanese government continues unabated.

When the government adjusted the HELP indexation rate in the May budget, Prime Minister Anthony Albanese deliberately invoked the Biden administration’s (unconstitutional) student loan forgiveness, saying “We’re wiping more than $3 billion in student debt.”

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In August the Herald reported SolarZero, which was sold to US private equity giant BlackRock, said it had “pioneered a new financing model” to expand its debt funding to $195 million.

Its chief financial officer James Allard said French bank Societe Generale provided $130m of the $195m, and Crown-backed NZ Green Investment Fund (NZGIF) – a ‘green investment bank’ that lends money to environmentally-friendly firms – provided the balance under its Solar Finance programme.

The NZGIF told the Herald it had been informed of the voluntary liquidation on Tuesday.

“NZGIF provided lending to enable the installation of solar panels and battery systems by SolarZero,” a spokesperson said.

“NZGIF is…

The company provided manpower and related services for Amazon Device Projects based on purchase orders issued between October 2022 and May 2023. Subsequently, invoices amounting to ₹3.69 crore were raised from March 2023 to May 2023, and payment approval was requested.

It contended that though Amazon Wholesale confirmed that two invoices were approved but delayed due to settlement issues. Multiplier argued that Amazon later requested additional data, since there were allegations of fake submissions by the company concerning other Amazon projects under investigation. It further contended that Amazon Wholesale withheld payments, citing the need to complete internal reviews.

Owing to this, Multiplier issued a demand notice to Amazon…

Dairy workers at South Australia’s Beston Global Food company have learnt they will lose their jobs after the company’s administrator, KPMG, was unable to find a buyer.

The 159 workers and 22 dairy farmers have been in limbo since the company went into voluntary administration on September 20.

Milk production will end on December 6 and the infrastructure at Jervois and Murray Bridge will be auctioned off.

KPMG tried to sell the business as an ongoing concern and several companies expressed interest.

However, in a statement a KMPG spokesperson said due to significant trading losses being incurred on a weekly basis the administrators were not…