(Aug 14): The Philippine central bank has ordered mobile wallets, payment applications and other supervised institutions to remove links to online gambling platforms.

The financial firms have 48 hours to take down icons redirecting to Internet betting, Bangko Sentral ng Pilipinas deputy governor Mamerto Tangonan said at a Senate hearing on Thursday, citing a decision from the central bank’s policy-making Monetary Board.

Senators are tackling proposals to either restrict or ban online gambling amid concerns over debt and addiction. President Ferdinand Marcos Jr earlier said a ban could stoke illegal online betting.

E-wallets like GCash, owned by fintech unicorn Mynt and valued at US$5 billion (RM21 billion), have been instrumental in…

Swiss health insurance company Klug has announced bankruptcy and will cease operations at the end of the year. The company, with a 107-year history and around 9,300 insured members.

According to the official statement, at the end of July Klug submitted an application to the Federal Office of Public Health (BAG) for bankruptcy and license revocation, which will take effect on January 1, 2026.

On August 6, the Federal Labor Court confirmed this decision, allowing the company access to its related assets.

Following the discovery of unrecorded payments amounting to approximately CHF 2.4 million, the situation, according to the BAG, “unexpectedly and significantly worsened.” The agency is now investigating whether these…

(InvestigateTV) — Debt consolidation can be a powerful tool to help simplify your finances – combining multiple debts into a single payment, often at a lower interest rate.

Cherry Dale, the vice president of financial education at Virginia Credit Union, said debtors should create a plan, because debt consolidation only works if people are not going to open up new lines of credit and take on more debt.

She said unsecured debt is the best place to start.

“So, things like credit card debt,” she said. “Number one, if you have other types of debt, like buy now, pay later debt, it’s becoming much more common. That unsecured debt is something you want to look at. It’s probably got the highest interest rate attached to it.”

Dale…

A Christchurch courier company that went into liquidation owing more than $1.2 million has been the victim of broken promises, sabotage, and professional failings, its sole director says.

NJ & MS Holdings Limited, trading as Point to Point, was placed into liquidation by the Greymouth High Court on June 30 after an application from Inland Revenue.

Speaking to chrislynchmedia.com, director Taipua Feast said she had put “her heart and soul” into the business and never imagined it would end this way.

“I’ve run the business for the last eight years,” she said. “I went in as an independent contractor for a big courier company and ended up putting on additional vehicles to help them when they couldn’t get other contractors.

They…

While the West Indies tries to determine a way to improve its once-fearsome Test team, Cricket Australia chief executive Todd Greenberg warns that some rivals — without naming names — will go “bankrupt” if they continue to play the longest form of the game.

Greenberg, a former Australian Cricketers’ Association chief who took over at the sport’s national governing body in March, believed “scarcity in Test cricket is our friend, not our foe.”

“I don’t think everyone in world cricket needs to aspire to play Test cricket, and that might be OK,” Greenberg told media at an event marking 100 days to go before the Ashes series Down Under between England and Australia.

There were 12 full members of the International Cricket Council…

Property developer KWG Group Holdings Ltd. (1813.HK) said on Wednesday that Shandong Sunlight Xin Tiandi Micro-finance Com.  Ltd. filed a winding-up petition against the company with Hong Kong’s High Court on Aug. 11. The petition relates to approximately 642 million yuan ($89.48 million) in unpaid guaranteed obligations and accrued interest of 136 million yuan owed to Shandong Sunlight by KWG.

KWG said it will consider filing an application for a validation order with the High Court, taking into account the petition’s developments alongside its offshore debt restructuring progress. The High Court has scheduled the first hearing for Oct. 22.

KWG’s aggregate bank and other borrowings, senior notes, and onshore…

While the West Indies tries to determine a way to improve its once-fearsome test team, Cricket Australia chief executive Todd Greenberg warns that some rivals – without naming names – will go “bankrupt” if they continue to play the longest form of the game.

Greenberg, a former Australian Cricketers’ Association chief who took over at the sport’s national governing body in March, believes “scarcity in test cricket is our friend, not our foe.”

“I don’t think everyone in world cricket needs to aspire to play test cricket, and that might be OK,” Greenberg told domestic media at an event marking 100 days to go before the Ashes series Down Under between England and Australia.

There are 12 full members of the International Cricket Council…

BRISBANE, Australia (AP) — While the West Indies tries to determine a way to improve its once-fearsome test team, Cricket Australia chief executive Todd Greenberg warns that some rivals — without naming names — will go “bankrupt” if they continue to play the longest form of the game.

Greenberg, a former Australian Cricketers’ Association chief who took over at the sport’s national governing body in March, believes “scarcity in test cricket is our friend, not our foe.”

“I don’t think everyone in world cricket needs to aspire to play test cricket, and that might be OK,” Greenberg told domestic media at an event marking 100 days to go before the Ashes series Down Under between England and Australia.

There are 12 full…

Property developer China Evergrande Group announced on Tuesday that the Hong Kong stock exchange has decided to delist it, effective Aug 25, and the company confirmed it will not apply for a review.

The announcement came after a letter was received from the bourse operator on Friday, stating that Evergrande, which is already in the process of liquidation, “failed to fulfil any of the requirements” for resumption of trade.

The final listing day will be Aug 22, with the delisting taking effect three days later, bringing an end to its 16-year run as a Hong Kong-listed entity.

Trading of the company”s shares has been halted since Jan 29, 2024, the same day the Hong Kong High Court ordered its liquidation….

The rising cost of living and a pandemic hangover have put the pressure on businesses, sending nearly 1300 into liquidation already this year.

New Zealand is riding its highest wave of company liquidations in more than a decade, with thousands of businesses folding and countless livelihoods caught in the crossfire.

Many more are holding on, but just.

In the first half of this year alone, 1270 businesses have shut their doors – a 12 percent increase on this time year.

It’s now anticipated that the total number of liquidations for the year will…