China won’t Laos become a Belt and Road debt trap

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A promotional poster for the 414-kilometer Laos-China railway project that promises to transform Laos from landlocked to land-linked. Photo: Facebook

Laos people unprecedented financial problems, including US$14. 5 billion worth associated with public and publicly guaranteed debt — around half of that is owed to Cina. But unlike Sri Lanka, there is no chance that Laos will default on its external debt obligations. China, its largest lender and political best friend, will not let Laos default. The size of […]

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China’s AgBank posts 5.5% H1 profit rise

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SHANGHAI: Farming Bank of China and taiwan (AgBank), the country’s third-largest commercial loan provider by assets, stated net profit increased 5. 5 per cent year on year in the first 1 / 2 of 2022. Profit was 128. 9 billion yuan (US$18. 63 billion) in the 6 months through toContinue Reading

Sri Lanka’s president to cut spending in interim budget

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COLOMBO: Sri Lanka’s president is placed to slash expenses when he offers an interim spending budget on Tuesday (Aug 30) to see the crisis-ridden country through the rest of the year, amid discussions using the International Monetary Finance on the bailout package. The tourism-dependent nation of 22 million is facingContinue Reading

US Fed’s wrecking ball slams Asian markets

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SEOUL – The storm took the weekend to combination the Pacific, but it made landfall however: On Monday (August 29), Asian markets had been hit by the exact same tempest that pummeled US markets late Friday. On that day, US Federal Reserve Chairman Jerome Powell had moved the tectonic dishes in a highly-anticipated talk to central lenders […]

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