Newstrcker

Govt plans to amend Insolvency and Bankruptcy Code to ring-fence buyers of stressed assets from prosecution

In many of the cases under insolvency, the promoters are under investigation by various agencies, the sources said

Jaypee Insolvency Case: NBCC sweetens bid by offering more land and benami flats to lenders; CoC to meet today

In 2017, Jaypee Infratech went into insolvency process after the National Company Law Tribunal (NCLT) admitted an application by an IDBI Bank-led consortium.

Centre not to release consumer expenditure survey due to data quality issues; to soon unveil base year for new series of GDP

A media report has claimed the consumer expenditure survey was approved to be released on 19 June this year but was withheld by the government agency owing to its "adverse" findings

BSNL, MTNL in fresh trouble as vendors mull insolvency action against state-run telcos for pending payments

Last month, the Cabinet approved a Rs 69,000-crore revival plan for BSNL and MTNL but dues of many vendors are still unpaid.

Google owner Alphabet in bid to buy Fitbit; wearable device maker's shares jump 27%, m-cap at $1.4 bn

There is no certainty that the negotiations between Google and Fitbit will lead to any deal, the sources said, asking not to be identified because the matter is confidential.

Finance Ministry reworking strategic sale procedure to ensure outright sale of central public sector enterprises

Currently, there is no set timeline for concluding strategic sale of a state-owned company and the entire process, in some cases, drags on for months, if not years.

Jet Airways grounds services to Kolkata, Pune among other destinations; is ailing airline heading for a crash-landing?

Jet Airways board met in Mumbai and discussed "operational" issues, while airlines' strategic partner Etihad Airways submitted initial bids for a higher stake

ICRA upgrades outlook on PNB, Bank of India, two other lenders; govt's capital infusion key driver of improvement

The stable outlook factors in ICRA's expectations of reduced asset quality pressure, improving solvency levels and expectations of improved earnings indicators in 2019-20, it said.

Oil prices fall from 4-year highs as Saudi Arabia and Russia quietly agree to output rise; US stocks swell

US crude oil stocks C-STK-T-EIA rose by nearly 8 million barrels last week to about 404 million barrels, the biggest increase since March 2017, Energy Information Administration data showed on Wednesday

State-run banks not under PCA framework expected to retain loan market share at 51% medium-term

Private sector banks are expected to increase it from 30.9 percent in March 2018 to 38-40 percent in the foreseeable future and stabilise at that levels