For the first time in over two centuries of its history, the nation’s largest lender State Bank of India, which had reported 5.73 per cent of its assets as bad loans in the December quarter, is going all out to stem the rot by offloading around Rs. 5,000 crore of its Rs. 67,799 crore dud assets to ARCs before the end of the month.
Mitsubishi Estate Co. (8802),Japan’s biggest developer by market value, will rebuild a Tokyoresidential complex where it stopped selling apartments that went for as much as 350 million yen ($3.4 million) after finding defects.
Unprecedented natural gas reserves in Europe, record global grain output and the threat of mutual economic calamity from oil sanctions are cushioning commodity prices even as the Ukraine-Russia conflict spurs a gold rally.
While U.K. gas prices, a European benchmark, rose 5.1 percent since the crisis began at the end of
Alibaba Group Holding Ltd. kicked off the process for what may be the biggest U.S. initial public offering in two years after struggling to persuade Hong Kong regulators to approve its proposed governance structure.
Singapore’s home sales rose in February as developers marketed new projects, a government report showed.
Home sales climbed 1.7 percent to 724 units last month compared with 712 in the same period a year ago, according to data from the Urban Redevelopment Authority released today. Sales climbed 28 percent from January, the data showed.
