Bailout

  • Cyprus girds for run on banks after sealing bailout March 26, 2013

    Nicosia: The president of Cyprus assured his people a bailout deal he struck with the European Union was in their best interests and would end anxiety, but he also announced "very temporary" capital controls to stem a run on the island's banks. Returning on Monday from fraught overnight negotiations in Brussels,...
  • Cyprus agrees to tap big depositors to clear way for EU bailout March 25, 2013

    Cyprus has agreed to shrink its bloated financial industry and tap big depositors at its two leading banks for billions of euros. The lastminute deal has cleared the way for a 10 billion euro bailout from the European Union. ...
  • Cyprus bailout bid goes down to the wire March 24, 2013

    Nicosia: Cyprus's bid to avert financial collapse will go down to the wire after the island said it would hold a crucial sitting of parliament only after finance ministers of the 17nation euro zone meet on Sunday. Cyprus faces a Monday deadline to clinch a 10 billion euro bailout from the...
  • Cyprus closes in on EU bailout, Uturn on levy March 23, 2013

    Nicosia: Cyprus is expected to make a dramatic Uturn on Saturday to avert the imminent threat of financial meltdown, having signalled it is willing to tax big savers in its stricken banks to clinch a bailout from the European Union. The island's partners in the 17nation euro zone scheduled a meeting...
  • Cyprus: Bailout deposit tax plan rattles markets March 18, 2013

    London: Stocks around the world and the euro fell sharply Monday as investors fretted over a plan to tax depositors in Cypriot banks as a way to partly fund a bailout of the Mediterranean island nation. Although Cyprus accounts for only around 0.2 per cent of the economic output of...
  • Kingfisher Airlines, lenders meet inconclusive January 18, 2013

    Mumbai: A meeting between the core lenders group and the grounded Kingfisher Airlines, which is trying to resume operations by February, ended inconclusively in Mumbai on Friday evening, as the airline failed to table a concrete revival plan. The lenders group, led by State Bank, has PNB, BoB, Bank of...
  • Govt to infuse Rs 2000 crore into Air India December 7, 2012

    New Delhi: India will infuse Rs 2000 crore in equity into ailing staterun carrier Air India as part of a turnaround and financial restructuring plan, a government statement said on Friday. Last year, the government had approved a $5.8 billion bailout plan for the national carrier. The latest equity infusion is...
  • '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 ...
  • News 360: Government clears power bailout September 24, 2012

    In yet another major reform push, the Cabinet clears a restructuring package for state electricity boards. ...
  • 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...
  • Cabinet to consider bailout for power discoms September 24, 2012

    New Delhi: With Trinamool Congress chief Mamata Banerjee out of the Congressled United Progressive Alliance (UPA), the government is now getting ready to roll out more reforms, starting with the power sector. A bailout plan for power discoms will be discussed during the Cabinet Committee on Economic Reforms meeting on Monday....
  • Greek rivals near coalition, seek bailout revision June 20, 2012

    Athens: Greece's conservatives and socialists edged towards a deal on a new government on Tuesday that would seek concessions from the country's lenders on its punishing austerity programme, and the euro zone signalled it was ready to negotiate. Both the conservative New Democracy party, which narrowly won elections on Sunday, and...
  • Greece's decisive elections spark global anxiety June 17, 2012

    The main contenders, the rightwing New Democracy and leftwing Syriza party, are at odds over whether to stick with the tough EU bailout deal. ...
  • World waits and watches as Greece heads to vote June 17, 2012

    A win for the Leftwing Syriza LED party would mean Greece's exit from the EU and bloodbath in the markets worldwide. ...
  • Eurozone agrees to lend Spain up to 100 bn euros June 10, 2012

    Brussels/Madrid: Euro zone finance ministers agreed on Saturday to lend Spain up to 100 billion euros to shore up its teetering banks and Madrid said it would specify precisely how much it needs once independent audits report in just over a week. After a 2 1/2hour conference call of the 17...
  • Greece to hold new election, jolts euro markets May 16, 2012

    Athens: Attempts to form a government in Greece collapsed on Tuesday, jolting financial markets at the prospect that leftists opposed to the terms of an EU bailout could sweep to victory in a June election and tip the euro zone deeper into crisis. The turmoil in Athens sent shock waves around...
  • Euro zone dismisses Greek exit 'propaganda' May 15, 2012

    Brussels: Euro zone finance ministers dismissed talk of Greece leaving the euro zone as "propaganda and nonsense" on Monday, but said the country had to respect the terms of the bailout programme agreed with the EU and the International Monetary Fund. If Greece can form a government and that government signs...
  • Greeks punish main parties, risk euro exit May 7, 2012

    Athens: Greeks angry at years of austerity shrugged off the risk of a euro zone exit and punished their ruling parties, which failed to win enough votes to form a ruling coalition in Sunday's election. With about 95 per cent of the vote counted, conservative New Democracy and Socialist PASOK, who...
  • 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. ...
  • President poll: CongTMC deal in the offing? May 3, 2012

    New Delhi: Congress leader Renuka Choudhury insists that Trinamool Congress supremo Mamata Banerjee seeking a bailout to support the presidential nominee is not armtwisting but a part of 'giveandtake' required in coalition politics. But government sources are worried that a concession to Mamata may lead to similar demands from other states...
  • Lehman Brothers emerges from 3.5year bankruptcy March 7, 2012

    Los Angeles: Onetime financial powerhouse Lehman Brothers emerged from bankruptcy on Tuesday and is now a liquidating company whose main business in the coming years will be paying back its creditors and investors. Lehman, whose September 2008 collapse is often regarded as the height of the financial crisis, will start distributing...
  • KFA crisis: Banks to take final call on bailout today February 29, 2012

    New Delhi: Crisishit Kingfisher Airlines will face a crucial day on Wednesday. The management will meet their lenders' consortium led by the State Bank of India (SBI) to convince them to put additional capital in the troubled airline. Sources told CNNIBN that the lenders will give further capital to Kingfisher...
  • 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...
  • No additional loans to Kingfisher: SBI February 23, 2012

    New Delhi: With Kingfisher Airlines facing huge turbulence, the State Bank of India (SBI) sources have confirmed to CNNIBN that it has not given any additional loans to bailout the airline. Top SBI sources told the CNNIBN that the public sector banking giant does not want to send out wrong signal...
  • No fresh loans for Kingfisher: SBI February 22, 2012

    New Delhi: The State Bank of India said on Wednesday that it had no plans of sanctioning fresh loans for the cashstrapped Kingfisher Airlines "at this point". SBI sources told CNNIBN that the bank did not want to send a wrong signal to its customers regarding its alleged fresh investment...
  • We welcome banks giving loans to Kingfisher: Ajit Singh February 22, 2012

    Civil Aviation Minister Ajit Singh said that passengers safety should not be compromised. ...
  • 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. ...
  • India @ 9 with Rajdeep Sardesai February 21, 2012

    Catch the day's top stories on India at 9 with Rajdeep Sardesai. ...
  • Eurozone seals a second bailout for Greece February 21, 2012

    Greece has finally secured a crucial second bailout after a marathon session of talks. ...