Beijing: – The ruling Communist Party has initiated inquiries against the country’s leading banks in the wake of the bankruptcy crisis in Evergrande, China’s leading real estate company. This includes the central bank of China as well as the leading state-owned banks known as the ‘Big Four’. Loans to private companies, including government enterprises in China, […]
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Washington/Beijing: – A US think tank has accused Chinese President Xi Jinping’s ambitious Belt and Road Initiative (BRI) of creating a debt burden on small countries as much as USD 385 billion. The study notes that about 42 countries are trapped in the Chinese predatory economic policies, with their debt exceeding 10% of the GDP. […]
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Beijing: Evergrande, China’s leading construction company, has reportedly failed to repay more than 300 billion in debt. It has been revealed that two leading multinational banks have since refused to accept the bonds issued by Fantasia company as collateral. Subsequent developments have brought the issue of bad debts in the Chinese construction sector on the […]
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Colombo – The Sri Lankan government has declared a food emergency due to the unavailability of foreign exchange for food imports. The Sri Lankan government has blamed the Coronavirus pandemic for the shortage of foreign currency reserves. However, analysts and media are claiming that a large amount of foreign exchange is being spent on the […]
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Beijing/Kabul: A US analyst has warned that China could play a cooperative role with the Taliban to control trillions of dollars worth of ‘Rare Earth Minerals’ in Afghanistan. China is already believed to have more than 30 per cent of the world’s Rare Earth Minerals. If it gains control over Afghanistan’s reserves, China could use […]
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Beijing: – Analysts claim that a series of shocks to China’s economy will hit the post-Corona recovery of the global economy once again. The Chinese government released the economic data for July. It shows a slowdown in industrial production, retail sales, e-commerce and investment sectors. Asian stock markets have plummeted in the wake of Chinese […]
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New Delhi – The bi-monthly credit policy review meeting of the Reserve Bank of India (RBI) was held. The meeting decided not to change the repo and reverse repo rates for the seventh time in a row. The country’s economy slowed down during the Coronavirus pandemic. During this period, the RBI had decided not to […]
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New Delhi – India reprimanded the Organisation of Islamic Countries (OIC), who appealed to Kashmir representatives. Indian Ambassador warned the General Secretary of the OIC not to fall prey to the hate India campaign by Pakistan and not allow Pakistan to use the OIC to further its political agenda. This was informed by Arindam Bagchi, […]
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Montenegro/Beijing: – China has tightened its debt noose around the neck of Montenegro, a tiny country in the Balkan part of Europe, with a population of a mere six hundred thousand. This month, Montenegro is required to pay the first instalment of the loan, of USD 1 billion, taken from China for the construction of […]
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Washington: In the last year and a half, the Coronavirus killed over 3.9 million. But, this threat won’t end just here, international leaders and experts warn. Moreover, ‘From an industrial perspective, the G7 nations should be prepared for the next biohazard. These G7 nations must develop an early warning system,’ warned US Deputy NSA, Daleep Singh. At the same […]
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