NEWSWORTHY

China's 'New Silk Road': A dead end for some nations?

Asia Pacific Sep 2, 2018

China's 'New Silk Road': A dead end for some nations?

China's massive and expanding "Belt and Road" trade infrastructure project is running into speed bumps as some countries begin to grumble about being buried under Chinese debt. First announced in 2013 by President Xi Jinping, the initiative, also known as the "New Silk Road" envisions ...

Business Jun 18, 2018

China seen flexing loan muscle as it pushes further into Pacific

In the gritty, steamy streets of Papua New Guinea's capital Port Moresby, signs of China's push into the Pacific island nation are inescapable. A Chinese worker stencils a logo for China Railway Group outside the new national courthouse it's building; China Harbor Engineering Group laborers ...

Venezuela's state oil company PDVSA is declared in default

Business Nov 17, 2017

Venezuela's state oil company PDVSA is declared in default

Crisis-plagued Venezuela suffered another blow Thursday as a committee of creditors ruled that state oil company PDVSA has defaulted on its debt, a decision that triggers payment of default insurance to investors. The setback for the oil-rich but cash-poor nation came as no surprise, as ...