Zhongzhi Enterprise Group managed assets worth more than one trillion yuan ($141 billion), according to investment bank Nomura. But the group has been caught up in China's real estate crisis, leaving it now unable to repay investors.

According to the company's liquidator, Su Zhu was detained at Singapore's Changi airport while trying to leave the city-state. He was one of the co-founders of collapsed cryptocurrency hedge fund Three Arrows Capital. The company filed for bankruptcy last year when its fortunes suffered a sharp decline after a massive...

Moscow, Russia - Google's Russian subsidiary is on the brink of bankruptcy as it struggles to cope with its mounting debt to creditors, Russian news agency TASS reported on Monday.  The subsidiary's financial liabilities have now surpassed a staggering 20.1 billion rubles ($211,579,032), according to documents revealed during the first...

Evergrande, once China's top property developer, was found in 2021 to be struggling with more than $300 billion in liabilities, as it came under intense pressure after officials tightened scrutiny of the real estate industry. The company's woes have come to symbolize the growing crisis in China's sprawling property sector,...

Abu Dhabi, UAE - The UAE is establishing federal prosecution entities specialised in economic crimes and money laundering, to develop the UAE's judicial system in line with changing global economic landscape.  The establishment of these entities also represents a first step towards investigating and cracking down on crimes such as...

The company had failed to secure new funding, the administrators said.

The annual general meeting of UBS is being held in the St. Jakobshalle indoor arena, famously the stomping ground of Swiss tennis great Roger Federer - Credit Suisse's top brand ambassador. The meeting will see Dutch chief executive Ralph Hamers bow out. Once the AGM is over, Sergio Ermotti returns...

The impact of SVB failure on regional banks and corporates may remain limited due to the diversity of Gulf investment portfolios, Junaid Ansari of Kamco Invest tells TRENDS.

The airline's net losses amounted to more than $117 million.

A few weeks after the unravelling of FTX, BlockFi, a lender in the cryptocurrency world, has filed for bankruptcy protection in a US Bankruptcy Court in New Jersey. Founded in 2017, the company had been in trouble early in 2022 amid a steep pullback in cryptocurrency values.

Switzerland's second-biggest bank launched a strategic review aimed at putting an end to a series of scandals that have shaken the institution, saying the results were intended to create "a simpler, more focused and more stable bank".

The UAE finance ministry's Financial Restructuring Committee (FRC) recently held the second meeting of its Consultative Council.

De Grisogono SA, a Swiss luxury jeweler filed for bankruptcy in 2020.

German carrier set its sights on a record summer for traffic.

Former tennis star Boris Becker was on Friday jailed for two and a half years after being found guilty by a British court of charges relating to his 2017 bankruptcy.

Khasawneh said the World Bank had confirmed that Jordan’s economy is more immune to the Russian-Ukrainian crisis.

DP World-owned P&O Ferries on Thursday suspended its passenger and freight ships but denied the group was heading into bankruptcy. P&O Ferries operates four routes serving Britain, France, Ireland and the Netherlands. “P&O Ferries is not going into liquidation,” the company said in a statement. “We have asked all ships...

Flouting norms, massive mismanagement and lack of transparency and corporate governance have potential to take any company the Marka Holding way

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.

Jordanians in financial trouble can't declare personal bankruptcy Non-payment of even small debts carries up to 90 days in jail Cash-strapped and struggling to care for his two disabled children, Mohammad Sabha took out a loan. Now he fears ending up in a Jordanian prison because he can't repay it....