No instant fix to the IL&FS mess: Another $4.6-mn debt payment default

Infrastructure Leasing & Financial Services Ltd. is missing more debt obligations, even as the Indian government pledged to prevent further defaults, underscoring the challenges its new board faces in fixing the firm’s mounting debt problems. IL&FS failed to service principal and interest on loans from banks, inter-corporate deposit and commercial papers totaling 339 million rupees ($4.6 million) due for the […]

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IL&FS Engineering up 90% in 1 week after government takes control of group

Shares of IL&FS Engineering and Construction Company has locked in upper circuit of 10% at Rs 25.32 on Friday, surging 90% in past one week after the government on Monday took control of infrastructure financier Infrastructure Leasing & Financial Services (IL&FS). In the past one week, IL&FS Engineering and Construction Company has jumped 90% from Rs 13.35 on September 28, […]

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Uber drives back to China: But for making bikes, not ride-hailing service

Two years after exiting China, Uber Technologies Inc </a>is putting feet back on the ground. Staff there, however, aren’t working on the ride-hailing company’s main business, but overseeing the creation of its bikes and scooters — Uber’s bet for its next consumer hit. After buying Jump Bikes, a US bike-rental service, Uber is set to unveil its own scooter, plunging […]

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Trade war will open up India as bigger trading, manufacturing base: Jaitley

Finance Minister Arun Jaitley Friday said the ongoing trade war may have created initial instability, but will gradually open up opportunities for India as a bigger trading and manufacturing base. Calling on businesses to adopt ethical practices, Jaitley said that entities should pay their due share of taxes as the Insolvency and Bankruptcy Code (IBC) will shut doors on fly-by-night' […]

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Asia Cup 2018, Ind vs Ban: India eye winning start to Super-4 stage today

An upbeat India will be eyeing another convincing victory over Bangladesh in their first game of the Super four round of the Asia Cup 2018 at the Dubai International Cricket Stadium in United Arab Emirates today. After a lacklusture show against minnows Hong Kong, defending champions India, led by stand-in captain Rohit Sharma, rode on an all-round show to outclass […]

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