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Business 20 Jul 2019 | 3:08 PM

Rating agencies knew of stress at India's IL&FS, but gave good ratings

MUMBAI/NEW DELHI: Credit rating agencies for years assigned high ratings to India's Infrastructure Leasing & Financial Services (IL&FS) and its group companies despite its deteriorating financial health, according to a special audit conducted by Grant Thornton India.

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.

Business 08 May 2010 | 12:00 AM

On a higher mobile plane

Maxis Bhd is gearing up for a new phase in its life as it enters the world of integrated play, says its CEO Sandip Das.

World 24 May 2019 | 10:26 AM

India's jobs deficit: Project in Gujarat struggling to create employment

GANDHINAGAR, India (Reuters) - (This is one of a series of stories on the difficulties the Modi administration has faced in creating jobs.)

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.

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.

Corporate News 28 Jan 2019 | 5:54 AM

Tycoon races to end mess that erased US$1.6b off Zee

MUMBAI: Indian media tycoon Subhash Chandra scrambled over the weekend to stem a crisis that wiped $1.6 billion off his flagship Zee Entertainment Enterprises Ltd.’s market value on Friday and threatened to derail his plans to sell a stake in the company.

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%.

Business 16 Jun 2019 | 11:55 PM

Shadow banking crisis raises risk of Indian bad loan redux

MUMBAI: Just as India’s banks emerge from under a pile of bad loans to large energy, steel and other industrial companies, they are facing a new reckoning from the accelerating crisis in the country’s shadow banking sector.