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18 Foreign Lenders of Jindal Steel and Power Agree to $550 Million Debt Restructuring

Eighteen foreign banks, including Standard Chartered Plc., Barclays Plc. and Deutsche Bank AG, have agreed to restructure loans to the tune of $550 million given to Jindal Steel and Power Ltd (JSPL), two people aware of the development said, Livemint rep ...

Daily Headline - global.abi.org - 03/20/2017 - 22:33 - 0 comments

Nagpur-Based Gupta Coal India Files For Insolvency

Nagpur-based Gupta Coal India has filed for insolvency at the National Company Law Tribunal. The petition says there are liabilities of Rs2,580 crore towards eight major banks, the Business Standard reported. A source told this newspaper, “Allahabad ...

Daily Headline - global.abi.org - 03/14/2017 - 22:59 - 0 comments

India's Sliding Bond Risk Shows Asia Is a Haven From the Fed

The reflation trade is carving out refuges in some curious places, case in point: emerging Asian debt. Credit-default swaps on the bonds of every Asian emerging market except for South Korea have tumbled this year, outperforming debt risk for the U.K. an ...

Daily Headline - global.abi.org - 03/13/2017 - 22:07 - 0 comments

The Big Reform India Needs Most

Prime Minister Narendra Modi has reason to be wary of ambitious reforms to India’s economy, given the fraught rollout of his plan to ban 500- and 1,000-rupee notes overnight, a Bloomberg View reported. For his country to reach its true economic potential ...

Daily Headline - global.abi.org - 03/07/2017 - 22:52 - 0 comments

Tata Steel UK Closes Pension Scheme To New Accruals From March 31

Tata Steel UK on Tuesday said it would close its final salary pension scheme to accruals from March 31 as a step towards resolving the future of its British operations, Reuters reported. The fate of Tata's British businesses, including the nation� ...

Daily Headline - global.abi.org - 03/07/2017 - 22:53 - 0 comments

India's Tata Steel Says in 'Constructive Discussions' With ThyssenKrupp

Tata Steel Ltd is still in talks with Germany's ThyssenKrupp AG about a potential merger of their European steel assets, the Indian company said on Monday. The statement was in response to reports in the British media on Sunday that India's lar ...

Daily Headline - global.abi.org - 03/06/2017 - 21:37 - 0 comments

Talk Of A Bad Bank In India

If you owe a bank a hundred dollars, it is your problem. If you owe a hundred million, it is the bank’s problem. If you are one of many tycoons borrowing billions to finance dud firms, it is the government’s problem, The Economist reported. That is r ...

Daily Headline - global.abi.org - 03/05/2017 - 22:43 - 0 comments

India Reforms Will Boost Stressed-Asset Deals, Top Dealmaker Says

Indian stressed-asset deals will increase this year as bad loans rise and reforms pushed by Prime Minister Narendra Modi’s government start to bear fruit, according to the nation’s top investment banker, Bloomberg News reported. Interest will come from b ...

Daily Headline - global.abi.org - 02/28/2017 - 23:22 - 0 comments

UK Tata Steelworkers Accept Pension Cuts

Tata steelworkers in the UK have voted to accept the closure of their £15bn pension fund, a historic sacrifice that brings the industry closer to resolving the crisis in British steel, the Financial Times reported. Thousands of trade union members ba ...

Daily Headline - global.abi.org - 02/15/2017 - 22:20 - 0 comments

Bank Results Spotlight Stubborn India Bad-Loans Problem

For several weeks near the end of last year, Indian banks were besieged by snaking queues of customers waiting to deposit banknotes that had suddenly been declared obsolete by the government, the Financial Times reported. Prime Minister Narendra Modi ...

Daily Headline - global.abi.org - 02/15/2017 - 22:21 - 0 comments

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