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World 01 Dec 2018 | 2:52 PM

India checking report IL&FS employees held hostage by staff in Ethiopia

NEW DELHI (Reuters) - India has asked Ethiopia to investigate a report that employees of an Indian company, Infrastructure Leasing and Financial Services (IL&FS), have been taken hostage by staff in Ethiopia, a government source said on Saturday.

World 02 Nov 2018 | 12:12 PM

Why India's Modi wants to increase control over the central bank

MUMBAI/NEW DELHI (Reuters) - An incendiary speech by a top Reserve Bank of India (RBI) official last Friday blew the lid off an increasingly toxic dispute between the central bank and the government of Prime Minister Narendra Modi over monetary policy and who controls the institution's reserves.

Corporate News 24 Oct 2018 | 4:36 AM

Mobius looks to bet on India's troubled shadow banks

MUMBAI: At a time when most money managers are steering clear of India's crisis-hit shadow banking firms, veteran emerging markets fund manager Mark Mobius is exploring aggressive contrarian bets on the sector.

Business 05 Oct 2018 | 12:00 AM

The untold tale behind Modi’s shock takeover of a risky lender

MUMBAI: With the future stability of the Indian financial system on the line, executives running a giant infrastructure lender gathered at the company’s glassy, modernist headquarters in Mumbai and hammered out an ambitious restructuring plan last Saturday to manage a US$12.6bil debt burden after a string of defaults.

Markets 03 Oct 2018 | 1:23 AM

Asia shares up, euro rebounds as reports temper Italian debt fears (Update)

SYDNEY: Asian shares reversed early losses while the euro rebounded from six-week lows on reports Italy will cut its budget deficit at a faster pace than expected, raising hopes Rome could stave off a problematic debt blow-out.

Business 27 Sep 2018 | 12:00 AM

Financial stocks in India are even more volatile than pot shares

MUMBAI: For Asia equity investors in search of volatility, there’s no need to buy US pot stocks. India has its own wild ride.

Business 26 Sep 2018 | 12:00 AM

Default shock in India sees firms pulling most bonds in decade

MUMBAI: North Eastern Electric Power Corp, an Indian state-run power generator, planned to raise 3 billion rupees (US$41.3mil) selling bonds. It couldn’t manage 5% of that amount, prompting it to scrap the sale on Monday.

Business 25 Sep 2018 | 12:00 AM

India pledges to support financial markets

This comes as shadow banks are rocked by default worries

Business 19 Sep 2018 | 12:00 AM

As debt woes spread, India’s IL&FS ratings cut to lowest levels

MUMBAI: The Indian infrastructure finance and construction firm that has rocked the nation’s credit markets with rare defaults had some of its credit ratings cut as low as they can go, as more debt deadlines loom.

Business 01 Oct 2013 | 12:00 AM

KPJ in Johor hospital venture

KPJ Healthcare Bhd has entered into a joint-venture agreement with UTM Holdings to develop and operate a private hospital on a piece of leasehold land in Kulaijaya, Johor. KPJ will hold 60% of the joint venture (JV) equity, while UTM Holdings will hold the remaining 40%.