Iran declared one of the country's largest private banks bankrupt with its assets absorbed by the state, official media reported Saturday, in a rare move in the country grappling with international sanctions.
Lavoie buys e-bike firm VanMoof
The cost of the acquisition has not been specified.
Lebanon looks to recycling to rid streets of garbage
Beirut, Lebanon--Beirut motorists pull up to a drive-through counter -- not for fast-food, but to exchange empty bottles and cardboard for cash, a novelty in a country long plagued by garbage crises. Festering landfills often overflow in crisis-hit Lebanon, waste is burnt illegally at informal dump sites and rubbish floats off...
Credit Suisse takeover prevented Swiss economy collapse: minister
Swiss Finance Minister said that the government had acted in the country's best interests in swiftly arranging the takeover of Switzerland's second-biggest bank by its larger domestic rival UBS. Amid fears of a global banking crisis last month, investor confidence in Credit Suisse collapsed on March 15, with the government...China agrees to restructure bankrupt Sri Lanka’s loans for IMF bailout
Colombo, Sri Lanka--Sri Lanka's president said Tuesday that China had agreed to restructure its loans to the bankrupt island nation, clearing the final obstacle to an International Monetary Fund bailout. China's state-owned Exim Bank "sent a letter to the IMF" on Monday night expressing Beijing's willingness to "restructure" credit to Sri...
FTX goes bankrupt in US
The Cryptocurrency platform chief executive quits.Sri Lanka inflation hit seventh consecutive record high in April
Hammered by a foreign exchange crisis, the country's 22 million people have been enduring acute shortages of essentials.
Lebanon cabinet passes financial recovery plan during last session
The cabinet of bankrupt Lebanon, at its final session on Friday, passed a financial recovery plan needed to secure international aid, but its implementation will depend on the fractious incoming parliament. The session came five days after Lebanon held its first election since an economic crisis, widely blamed on corruption...Sri Lanka imposes fuel rationing as economic crisis worsens
Cash-strapped Sri Lanka imposed fuel rationing on Friday in another worsening of the economic crisis that has sparked widespread demonstrations calling for President Gotabaya Rajapaksa's resignation.
Lebanon central bank not bankrupt, says governor
Lebanon’s Deputy Prime Minister Saadeh al-Shami claimed on Monday that the country and its central bank had gone bankrupt. The claims seemed to be in line with exclusive reporting from TRENDS in December that said around $7 billion was missing from BDL’s books.Lebanon, its central bank have gone bankrupt, says Deputy PM
In the first official admission, Saadeh al-Shami said the losses have occurred and the government will try to reduce losses for the people. He said the losses will be distributed among the state, the Banque du Liban, banks and depositors.
Dubai court orders Marka managers, directors to settle $122m debt
A Dubai court has ordered the managers and directors of Marka Holdings to repay the company’s AED448 million (around $128 million) debt as part of bankruptcy proceedings.
