BAILOUT PACKAGE

  • 'Power bailout package will be performancelinked' September 25, 2012

    New Delhi: Put your house in order first that's the message that Power Minister Veerappa Moily sent to the power companies on Tuesday when he said that the debt restructuring package announced by the government to bail them out would be performancelinked. "We want to ensure they don't go into...
  • Power bailout package a boon or bane? September 25, 2012

    New Delhi: The Cabinet has cleared a Rs 2 lakh crore proposal to restructure the debt of the state power boards. But the question is whether this will address India's longterm energy problems or drag the government lenders deeper into the red. Just seven of the country's 28 states ...
  • Maharashtra CM Prithviraj Chavan meets Sonia Gandhi September 24, 2012

    New Delhi: Maharashtra Chief Minister Prithviraj Chavan on Monday met Congress President Sonia Gandhi amidst reports that there may be a possible change in leadership in the state. Recently, Maharashtra chief ministerial hopeful and state Industries Minister Narayan Rane had met Sonia. The meeting between Chavan and Sonia sparked off speculation...
  • News 360: No consensus yet on Presidential nominee May 4, 2012

    The Sukma Collector is back home after 12 days in the Naxal captivity but Chhattisgarh Chief Minister has denied reports of any backroom deal. ...
  • Germany approves second Greek bailout package February 28, 2012

    Berlin: German Chancellor Angela Merkel scraped through a parliamentary vote endorsing a second bailout for Greece on Monday but faced a growing backbench revolt against pouring in more money in support of the euro zone. The comfortable 49690 victory, with five abstentions, was inflated by centreleft opposition support, but only 304...
  • After bailout, Greek govt agrees to cut wages, jobs February 22, 2012

    Greece has agreed to massive debt reduction, which the private sector investors must approve. ...
  • Eurozone seals a second bailout for Greece February 21, 2012

    Greece has finally secured a crucial second bailout after a marathon session of talks. ...
  • Eurozone seals Greek bailout worth 130 bn euros February 21, 2012

    Brussels: Eurozone finance ministers approved on Tuesday a second bailout for debtladen Greece that will resolve Athens' immediate repayment needs but seems unlikely to revive the nation's shattered economy. After a marathon 12 hours of talks through the night, euro zone officials said ministers had agreed measures to cut Greece's debt...
  • Greece battles to salvage bailout package February 16, 2012

    Athens: Greece's leaders battled to salvage a 130billioneuro EU/IMF bailout on Wednesday, rejecting criticism of their commitment to a punishing austerity package despite staunch opposition to it among voters. But with mistrust of Athens high, EU sources told Reuters euro zone finance officials were studying whether it was possible to delay...
  • AI: Govt mulls Rs 30,000 cr bailout package November 29, 2011

    New Delhi: Seeking to turnaround the cashstrapped Air India, the government is considering a nearly Rs 30,000 crore package for the national carrier over a period of 10 years, official sources said on Monday night. According to the proposal, the government is considering writing off Rs 4,500 crore cash loss of...
  • Air India discusses pay cut proposal with employees June 25, 2009

    Mumbai: Air India's top management on Thursday discussed with union representatives a proposal to cut salaries of its 31,000 employees, but no decision has been taken, a union leader said. Chairman and Managing Director (CMD) Arvind Jadhav of the cashstrapped national carrier was present at the meeting. However, union leaders...
  • AI management meets workers' union over deferred pay June 25, 2009

    New Delhi: The management of ailing national carrier, Air India met on Thursday with the employees' union to discuss the issue of deferred salaries for the month of June as well as the decision to cut employee cost by Rs 500 crore annually. They union will also be joining the...
  • Govt to help AI but won't give a blank cheque June 24, 2009

    New Delhi: Even as the world is in the grips of an economic slowdown, the Prime Minister of India is facing a tough question should he spend Rs 14,000 crore of the taxpayers' money on an ailing Air India? After a meeting with Prime Minister Manmohan Singh to discuss...
  • Air India summoned in multimillion dollar suit June 24, 2009

    New Delhi: The troubles just don't seem to end for Air India. The airline has now been summoned by a US court in a multimillion dollar lawsuit for allegedly violating safety norms habitually. The case was filed by Anthony Keyter, formerly a pilot with the Boeing company. Keyter was posted in...
  • Global meltdown has hit IT hiring in India: Nilekani February 17, 2009

    Bangalore: Infosys Technologies vicechairman Nandan M Nilekani on Monday admitted that the global economic meltdown has affected hiring in India's IT industry. "The IT sector is not seeing job buoyancy now compared to earlier years due to global economic slowdown," Nilekani said at a function in the Institute for Social and...
  • Stimulus package to bring China's economy back on track November 11, 2008

    Beijing: China's $586 stimulus programme has set financial markets around the globe on fire. The package is far larger as a percentage of the economy than the American financial bailout. Workers from the Chinese countryside are looking for construction jobs in Beijing. But many building sites in Beijing are idle as...
  • China announces $570 billion bailout package November 10, 2008

    Beijing: China, on Sunday announced a $570 billion stimulus package to boost domestic demand and a slew of "active" macroeconomic measures to ease credit crunch to offset the adverse impact on its economy from the global economic crisis. Under the package, the Chinese government promised to loosen credit conditions, cut taxes...
  • Economic slowdown dampens festive spirit October 28, 2008

    As India feels the ripple effects of the global financial crisis, is the common man nervous about India's economic health? With stock markets crashing to new lows, how badly have people been affected by the market meltdown? And are people worried about losing their jobs and has that lend them...
  • US economic crisis: Wall Street first, main stream waits October 20, 2008

    Norwalk: Theres another Wall Street that is just 50 miles from the famous Wall Street that everyone knows. This one is in downtown Norwalk, in one Connecticut town. Many say it's where Wall Street collides with Main Street. But this mythical intersection is more than just a symbol. It's an actual...
  • What's the difference between pigeon and banker? October 12, 2008

    London: Question: What's the difference between a banker and a pigeon? Answer: A pigeon can still put a deposit on a BMW. And what's the capital of Iceland? Answer: About 3.50 pounds. Oops, it just went down to 3.00 pounds. If that looks like someone making light of a very serious thing,...
  • Meltdown: India story still safe! | World backs IMF October 12, 2008

    Washington: Dismissing fears of global financial contagion impacting India, the International Monetary Fund has said that the country's economy will continue to perform well. "Overall, we see the Indian economy continuing to perform well," said Oliver Blanchard, Economic Counselor and Director of International Monetary Fund (IMF) Research Department here recently. Pointing out...
  • Meltdown: World puts its weight behind IMF October 12, 2008

    Washington: Members of the International Monetary Fund (IMF) have "strongly endorsed" a promise by the world's advanced economies to do all they could to curb a financial crisis that has brought the world to the brink of a recession. The IMF's 185 countries have also pushed for more coordination with developing...
  • No overnight solution to financial crisis: Bush October 11, 2008

    Washington: US President Bush on Saturday tried again to ease global market as he met with world financial leaders to coordinate ways to stabilise markets after a disastrous week saw trillions wiped off the value of shares. The G7 ministers are trying to thrash out ways to calm the markets. In a...
  • Whatever it takes! G7 vows to freeze meltdown October 11, 2008

    New Delhi: The world's seven leading economies agreed to do everything in their power to tackle a financial crisis that threatens to plunge the world into recession, but unveiled no new joint measures after their meeting. The Group of Seven (G7) finance ministers and central bank heads said after their meeting...
  • Wall Street giants dwarfed | Worldwide wreck | Bush says October 11, 2008

    Washington/New York: Finance chiefs of the world's rich nations pledged on Friday to prevent big banks from collapse and to work together to stem the financial crisis after another day of gutwrenching drops on world markets. "The current situation calls for urgent and exceptional action," finance ministers and central bankers...
  • Bank on India and make your money safe October 11, 2008

    The global economic crisis has come to India. Share markets are down; industrial production is down and the mood among businesses and investors is down. Share markets have lost over Rs 600 crore in a week, with interventions by the government, the RBI and market watchdog SEBI doing little to boost...
  • Indian exbanker on UK economic rescue team October 8, 2008

    New Delhi: Indians with figures crunching abilities are in great demand as the world economies undergo upheavals. Right from the legendary economist Chanakya to modern economist Amartya Sen, Indians have proven their economic abilities. While the US Treasury official of Indian origin, Neel Kashkari, 35, has been named to spearhead the Wall...
  • Your Story: Hit by market meltdown? Write in October 7, 2008

    Global markets have been hit by the worst recession in history after the Great Depression. Have you been affected? Write in with your story. ...
  • No threat, no sweat: India insulated from meltdown October 7, 2008

    New Delhi: India's economy will grow 8 per cent this fiscal year and rebound to 9 per cent next, the finance minister has said, despite the rout in global markets which has triggered recession fears in industrialised nations. "There is a storm blowing across the world. India will be affected...
  • Wanted: A Facebook to rescue the world economy October 7, 2008

    Washington: World Bank Group President Robert B Zoellick has suggested formation of a core group comprising seven emerging powers, including India, joining the Group of Seven to deal with the global economic crisis. "The G7 is not working. We need a better group for a different time," he said in a...