The benefits for Air India from the financial restructuring plan have been largely eroded by high volume of short-term loans and the state-owned airline should look at rationalising costs, the CAG said today. Besides, the apex auditor has recommended that the government’s equity funding to the airline should be adjusted after taking…
(For more Reuters DEALTALKS, click on) By Tatiana Bautzer SAO PAULO, March 8 (Reuters) – Brazil’s largest banks are increasingly demanding that companies put themselves up for sale as a condition to cut loan principal amounts, providing a jolt to an otherwise weak M&A climate in Latin America’s largest economy. Since the start of September,…
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Ulster Bank is expected to announce up to 10 branch closures in Northern Ireland within the next fortnight. It is understood a review of the bank’s branch network is under way, and that an announcement is due on cutbacks. It currently has around 65 branches across Northern Ireland. In the Republic, it has also been…
It will be a few more weeks before Carlton legend Mike Fitzpatrick hangs up his boots as AFL chairman, but he doesn’t need to worry about things getting a little boring following his departure from the big game. The Fitzpatrick-chaired boutique investment disaster, Pacific Current Group (PAC), shows no signs of making peace with its…
As I wrote about Fujifilm (OTCPK:FUJIY) last week, that company is a relatively rare example of a Japanese conglomerate that has moved reasonably quickly to transform itself in response to changing market realities. If Fujifilm is the “after” picture, Fujitsu (OTCPK:FJTSY) is more like the “before” picture, as weak profitability in its manufactured products continues…
Cambodian authorities have detained four Chinese nationals accused of a kidnapping and extortion plot involving gamblers whod rung up debts at a local casino. On Monday, Cambodia Daily reported that National Military Police had arrested Ding Chunyaun, the owner of an unidentified casino in Poipet City, along with three accomplices for the kidnapping of three…
Heres the good news: Valeant Pharmaceuticals has raised $US1.1 billion dollars in asset sales it will use to pay down debt. Its also taking this opportunity to refinance more of its $US30 billion outstanding debt load. Thats also the bad news. The stock is down over 4%, adding to its 20% slide over the last…
Written by George Mathew | Mumbai | Published:March 7, 2017 1:39 am The revival plans of banks to recover their funds stuck with stressed borrowers dont seem to be working with corporate debt restructuring (CDR) packages of 264 borrowers worth Rs 1,25,093 crore of loans failing and turning into bad assets. Of this as much…
Banks are preparing a major endeavor to restructure problematic corporate loans which extend across four key business sectors and add up to some 5-5.5 billion euros. In the coming weeks and months the credit sector aims to tackle loans worth 1.1 billion euros in the steel industry (of which about half are nonperforming), a billion…