Category: Debt Relief

Vodafone may end up being biggest NPA for lenders

MUMBAI: Lenders said they will have no recourse should Vodafone Idea default on its payment obligations to the government. The company may end up being the biggest non-performing asset (NPA) for lenders because of the lack of securities, guarantees or fresh equity from promoters. Banks currently have an exposure of close to Rs 1,00,000 crore…

Vodafone Idea exploring option to monetise data centres to pare debt

Debt-ridden telecom operator Vodafone Idea on November 15 said it is exploring to monetise data centres as part of the company’s debt reduction plans.Apart from data centres, Vodafone Idea (VIL) plans to monetise its 11.15 percent stake in Indus Towers on completion of the Indus Towers-Bharti Infratel merger, and is also exploring options to monetise…

Fed’s Rate Cut, Trade Hopes Ignited Relief Rallies: EM Review

(Bloomberg) — Emerging-market stocks rose for a fourth straight week last week and posted the best monthly advance since June, as the Federal Reserve confirmed investors’ expectations of a third-straight interest rate cut. While the U.S. central bank signaled a pause in further easing, appetite for higher yielding assets remained in place as signs of…

Fed’s Rate Cut, Trade Hopes Ignited Relief Rallies: EM Review

(Bloomberg) — Emerging-market stocks rose for a fourth straight week last week and posted the best monthly advance since June, as the Federal Reserve confirmed investors’ expectations of a third-straight interest rate cut. While the U.S. central bank signaled a pause in further easing, appetite for higher yielding assets remained in place as signs of…

Relief Seen for Natural Gas Bottlenecks: Canada Bond Update

(Bloomberg) — Manitoba Finance Minister Scott Fielding is bullish on the Canadian province’s growth outlook for the next year even if the rest of the country slows down, thanks to a diversified economy and private investments.“We’re not subject to booms and busts as other areas of the country may be,” he said on Wednesday at…

Govt. to work on relief package for telcos

The government has constituted a Committee of Secretaries (CoS), headed by Cabinet Secretary Rajiv Gauba, to work out a relief package for the telecom sector, a move that may help mitigate the impact of the more than ₹1.4 lakh crore that the telcos may need to pay the exchequer following a recent Supreme Court order.The…

Judge Reminds Betsy DeVos She Can Go To Jail

Education Secretary Betsy DeVos on Monday was told in no uncertain terms that her refusal to abide by a 2018 order stopping her department from collecting on student loans made to predatory for-profit Corinthian College had the potential to land her in jail, though Magistrate Judge Sallie Kim made clear that was, for now, an…

Sudan government and rebels meet for peace talks in Juba

JUBA (Reuters) – Sudan’s ruling council and rebel leaders started peace talks on Monday to end the country’s multiple conflicts, a key condition for the country’s removal from the United States’ sponsors of terrorism list. Ethiopia’s Prime Minister Abiy Ahmed is received by South Sudan’s President Salva Kiir at the Juba international airport, in Juba,…

Sudan, rebel groups agree on roadmap for peace talks

JUBA/KHARTOUM (Reuters) – Sudan and a major rebel group agreed on Friday to a roadmap that will allow suspended peace talks to resume, giving new impetus to efforts by the government to end multiple conflicts around the country, the two sides said. FILE PHOTO: Sudan’s new Prime Minister in the transitional government Abdalla Hamdok, speaks…