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NEWS

Puerto Rico is Drowning in Debt

04.07.2014

Creditors to Puerto Rico's electricity provider were given a slight respite on Tuesday when the bonds’ trustee made a scheduled payment, but the U.S. municipal bond market remained worried the Puerto Rico Electric Power Authority (PREPA) will soon use a new bankruptcy-like process to restructure its debts. A law passed last week allowing the Puerto Rico’s public corporations – primarily its ...

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Global Shares Near Record Highs

03.07.2014

World shares were hovering around record highs as markets prepared for a European Central Bank and U.S. jobs data double-header, according to Reuters report. Investors were subdued before the two events, both usually big market movers. Stocks, benchmark bonds and the euro and dollar all barely budged after an equally cautious day in Asia. The ECB is expected to flesh out ...

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Hong Kong as Offshore Yuan Hub

03.07.2014

Hong Kong's offshore yuan business is an "ever-growing slice of cake, but if it doesn't want to eat it, that's its own problem”, a People's Bank of China official said. As Reuters reports, it was the reaction on protest movement calling for democracy in the territory and threatening to disrupt its financial district. A pro-democracy march on Tuesday, which organizers said ...

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Russia changes its approach to Bitcoin

03.07.2014

CB and Russian government may develop eventually a regulation for handling digital currency in Russia, as the first Deputy of the Russian Bank G. Letunovsky said. He also underlined that other countries use different methods to regulate Bitcoin: if on one hand China banned it completely then California, on the other, legalized it. “We are supporters of a careful approach ...

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Bank of Vietnam Reports Steady Rise in Bad Debts

03.07.2014

The State Bank of Vietnam recently announced that bad debts jumped to 4.03 percent of outstanding loans last April, from 3.93 percent in March, and 3.86 percent in February. The debts dropped from 4.55 percent last November to 3.61 percent in December, when the Vietnam Asset Management Company (VAMC) made a number of major purchases. The debts quickly rose to 3.74 percent ...

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