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