Treasury pushed for greater lending powers to be moved to Finance Minister
26 Apr, 2021 04:00 AM
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New legislation will give the Minister of Finance more power over restricting who banks can lend to, however Treasury wanted a greater shift to the Beehive. Photo / Mark Mitchell
New legislation will give the Minister of Finance more power over restricting who banks can lend to, however Treasury wanted a greater shift to the Beehive. Photo / Mark Mitchell
Treasury wanted more powers over bank lending restrictions to move from the Reserve Bank to the Government, despite acknowledging the risk that electoral concerns may influence financial stability decisions.
Never mind debts in Greece or Italy, it’s France that’s heading for a crisis
A loss of confidence would be perilous as Macron resorts to borrowing cash to prop up the welfare state
26 April 2021 • 5:00pm
Which country in Europe has the most total government debt? Italy, perhaps, as it grapples with a depression that appears to have gone on for decades? Or maybe Greece after it nearly brought down the euro? Or even Spain after its wild boom of the early 2000s?
In fact, it isn’t any of those. As of this month, it is France. In hock to the tune of €2.67 trillion (£2.32 trillion), this month it finally overtook Italy as the Continent’s biggest debtor – and the third biggest globally.
Massachusetts House votes to maintain film tax credit permanently
By Emma Platoff Globe Staff,Updated April 26, 2021, 2 hours ago
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The Massachusetts State House.Craig F. Walker/Globe Staff
The Massachusetts House voted unanimously Monday to make permanent the stateâs controversial film tax credit, strongly endorsing a tax break recently panned by a government commission and teeing up a dispute with the state Senate, which takes a dimmer view of the program.
In the past, supporters have extended the program for a few years at a time, but this weekâs amendment by state Representative Tackey Chan, a Democrat from Quincy, would extend it indefinitely. The 15-year-old program has survived many attempts to end it, including two by Governor Charlie Baker, and it faces skepticism from Democratic leaders in the Massachusetts Senate.
Government House in La Plata, Buenos Aires Province. | Buenos Aires Times
Five weeks after being sued by creditors in a New York court, Buenos Aires Province says it is ready to return to the negotiating table.
Argentina s most-populous province, which has been in default for almost a year, said Monday it would invite its main creditors to a round of consultations to identify final improvements in its debt restructuring offer, and that after those talks it will announce a modified offer in the next few weeks, according to a statement posted on the regional government s website.
The return to the negotiating table comes after a group of creditors filed a lawsuit against the province in the in New York courts back in March, asking for more than US$366 million in unpaid principal and interest. The government in La Plata has extended the deadline for creditors to accept an initial debt proposal more than a dozen times, all of which have been roundly rejected by bondholders. The m
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FILE PHOTO: Containers are seen at Abu Dhabi s Khalifa Port after it was expanded in Abu Dhabi, UAE, December 11, 2019. REUTERS/Satish Kumar/File Photo
DUBAI (Reuters) - Abu Dhabi Ports, which owns and operates 11 ports and terminals in the United Arab Emirates and Guinea, has secured a $1 billion loan with a group of banks, two sources said.
Nine banks provided the facility, with Citi and First Abu Dhabi Bank having lead roles in the transaction, the first source said on condition of anonymity.
The source added that HSBC and Standard Chartered were also involved in the loan for the company, which is owned by Abu Dhabi state holding company ADQ.