Bankrupt Banking

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Crypto platforms say they're exchanges, but they're more like banks

Beijing News 12 Aug 2022

However, the crypto crash has revealed that these firms are not just exchanges - they are more like banks. Except defunct crypto exchanges like Celsius Network and Voyager Digital were only banks if you read the fine print ... But they also function like stockbrokers and, more concerningly, their core business models quite closely resemble banking.

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Piramal Fin, Reliance Power told by National Company Law Tribunal to settle case by September 5

The Times of India 12 Aug 2022

MUMBAI. The Piramals have put the sale of a prime Pali Hill property on hold. When contacted, a spokesperson said the company did not wish to comment on the matter ... DHFL had gone bankrupt after it owed more than Rs 90,000 crore to lenders, including banks, mutual funds and individual investors ... However, the deal did not materialise ... .

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Lebanon Ponzi Finance: World Bank Says Politicians Are to Blame for the ‘Deliberate Depression’

Bitcoin 08 Aug 2022

The report concludes that the country needs to seriously engage “in the macro-fiscal, financial, and sector reforms the World Bank has been stressing for decades.” Politicians Defending ‘a Bankrupt Economic System’ ... The bank argues that this absence of ...

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‘BJP making people’s lives difficult’

The Times of India 06 Aug 2022

Hyderabad ... “While the Congress nationalised banks, the Modi-led government’s decision to waive off loans of big corporates is resulting in banks going bankrupt ... .

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Increasing dissent in Chinese mainland challenges Xi's authoritarian regime

Beijing News 05 Aug 2022

The Chinese leadership is worried that the mass protests against the economic slowdown and bank failure are spreading like wildfire, challenging President Xi Jinping's command ... But Beijing is denying that access, apparently to save the banks, the HK Post reported ... The bankrupt real-estate developers will be in deeper trouble.

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Three Members of Sri Lanka’s Team Abscond from Games Village

This Day 05 Aug 2022

The Sri Lankan team has asked its athletes and officials at the Commonwealth Games to turn in their passports after three members went missing ... Bankrupt Sri Lanka owes over £39 billion to lenders but only has around £100 million in the bank, resulting in nationwide shortages of fuel, food and essential medicines. .

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Rakesh Jhunjhunwala, ‘India’s Warren Buffett,’ set for take-off with new airline

Manila Standard 05 Aug 2022

Mumbai, India—The world is gripped by recession fears, jet fuel prices are sky-high, and aviation is a notoriously fickle industry ... Fugitive businessman Vijay Mallya is fighting extradition from Britain on charges of financial fraud after his pet project Kingfisher Airlines went bankrupt in 2012, losing Indian banks more than $1 billion ... ....

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‘I am prepared for failure,’ Rakesh Jhunjhunwala's Akasa set for take-off | Mint

Live Mint 05 Aug 2022

The world is gripped by recession fears, jet fuel prices are sky-high, and aviation is a notoriously fickle industry ... TRENDING STORIESSee All ... Fugitive businessman Vijay Mallya is fighting extradition from Britain on charges of financial fraud after his pet project Kingfisher Airlines went bankrupt in 2012, losing Indian banks more than $1 billion.

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The 4 Crises that Could Hit Your Portfolio and How to Deal with Them | Mint

Live Mint 03 Aug 2022

The stock market is rising. The economy is on the path to recovery. Crude oil prices are falling. It’s only a matter of time before inflation comes under control. Even Raghuram Rajan says there is no economic crisis in India ... High Inflation ... Some weak companies could go bankrupt. The banking sector will also be put to the test in this scenario.

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Legacy of Shinzo Abe: Corruption and Hopeless Japanese Economy

GlobalResearch 03 Aug 2022

The speaker of the Lower House was involved in the scandal of fraudulent bank drafts ... Given the danger of skyrocketing asset bubble, the Bank of Japan jacked up the interest rate from 2% to 6% in 1989 ... Countless companies went bankrupt; the value of dwelling went below the due amount of mortgage debt; banks had to cope with bad loans.

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Inflation or recession: which is worse for investors?

The National 02 Aug 2022

Central banks have a choice of two poisons as they battle to fight inflation without triggering a full-blown recession ... The US Federal Reserve, European Central Bank and Bank of England are all trapped by the policies they have pursued since the financial crisis, says Mike Hollings, investment director at asset manager Shard Capital.

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India continues to be fastest growing economy in assessment of global agencies: Sitharaman

Beijing News 02 Aug 2022

She further said, "4,000 banks in China are reported to be going bankrupt. In India, the gross NPAs (Non-Performing Assets) of scheduled commercial banks is at a 5-years low of 5.9 per cent in 2022 ... Quoting former Reserve Bank of India (RBI) Governor Raghuram Rajan, she said, "On ...

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India continues to be fastest growing economy despite pandemic, says Nirmala Sitharaman | Mint

Live Mint 02 Aug 2022

She further adds, "4,000 banks in China are reported to be going bankrupt. In India, the gross NPAs (Non-Performing Assets) of scheduled commercial banks is at a 5-years low of 5.9 per cent in 2022 ... Mo ... She quoted former Reserve Bank of India(RBI) governor Raghuram Rajan's statement on the good health of the Indian economy to make her point.

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Aurora Sentinel: Climate change, drought signal time to go against the green

Colorado Politics 02 Aug 2022

There is no starker contrast along the Front Range between the sea of green lawns that generations have maintained and the harsh reality that they don’t belong here, and can’t ... Coffman is absolutely right ... This move pushes those restrictions further, addressing a problem that works to bankrupt Aurora’s currently healthy water bank ... ....

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Opposition flags inflation, job loss; FM Sitharaman says no recession or stagflation

Indian Express 02 Aug 2022

Observing that banks and their health are equally important for looking at the economy, Sitharaman said, “In India, the gross Non-Performing Assets of scheduled commercial banks is on a six-year low at 5.9 per cent in FY-22. So, in China 4,000 banks are on the verge of going bankrupt and our NPAs are improving.”.