Posts Tagged ‘Asia’

China Tightens Bank Lending Rules

Posted by Amita Kalra on February 21st, 2010

As a follow up to the recent increase in the reserve requirement ratio in China, the CBRC (China Banking Regulatory Commission today announced two more regulations aimed at monitoring working capital loans and personal loans.

The regulation on working capital loans stipulates, working capital loans cannot be used in investments including fixed assets and shareholding. The issuance of excessive loans and appropriation of loans should be also be avoided. Face to face interviews will be made necessary when approving personal loans, according to the regulation on personal loans. The two regulations both state lenders and borrowers should declare the purpose of loans before they are made. The regulator will punish lenders that freely distribute working capital loans and companies that use those loans for purposes such as capital expenditure, stake investment and some other areas that the government doesn’t allow, CBRC said.

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Posted in Asia Pacific, North America Tags: , , , , , 2 Comments »

Bharti Airtel Bids For Zain

Posted by Amita Kalra on February 14th, 2010

In a deal valued roughly at $10.7 billion, India’s largest mobile phone company (by subscribers), Bharti Airtel, today offered to buy the African operations of Zain, a Kuwaiti telecommunications company.

Zain currently has more than 40 million subscribers in Africa, about 62 percent of its client base. More than half of its $7.2 billion annual sales in 2008 came from Africa. Its shares have gone up nearly 23 percent last week, giving it a value of 4.64 billion Kuwaiti dinars (16 billion dollars).

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Posted in Africa, Asia Pacific, North America Tags: , , , , , , , 10 Comments »

China Increases Reserve Requirement for Banks

Posted by Amita Kalra on February 12th, 2010

In an effort to curb lending and put a limit to inflation, China, for the second time in the last 5 weeks, has increased the banks’ reserve requirement ratio, which the ratio of the money to be kept with the central bank, which cannot be lent out to consumers and earns very little interest. This effectively means that commercial banks have lesser money to lend out to customers.

The People’s Bank Of China, the Central Bank, has pushed up the ratio by half a percentage point, to 16.5% for large banks (with effect from February25). However, it remains unchanged at 14% for smaller financial institutions.

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Posted in Asia Pacific Tags: , , , , , 1 Comment »

Now Honda pulls a Toyota, Recalls 646000 Compact Cars Worldwide

Posted by Prabhjot Singh on January 29th, 2010

Hot on the heels of the disappointing news from Toyota (TM) to recall 4.6 million cars worldwide, comes a similar news from the Honda Motor Co. (HMC), who are recalling 646,000 cars over safety concerns. The recall includes all Fit, City and Jazz models made in 2007 and 2008. The Toyota fiasco already has the car’s owners fuming and now they will be joined in the ranks by Honda owners. The news comes as a double blow for the Japanese automotive market.

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Posted in Asia Pacific, Europe, North America, South America Tags: , , , , , No Comments »

Toyota pushes the brake pedal

Posted by Amita Kalra on January 27th, 2010

In an unexpected turn of events, the world’s largest automaker, Toyota Motor Corporation, halted the sales of its 8 of its most popular models, including Camry, Corolla and the RAV4. Though it had been experiencing fractures in the form of high product recall in the market, this move seems to have broken the backbone of the company that built its customer base based on its core competence – unmatched quality for the customer. Toyota also said it will stop producing the affected vehicles at several North American plants for one week starting Feb. 1.

The models being recalled include 2009-2010 RAV4, 2009-2010 Corolla, 2009-2010 Matrix, 2005-2010 Avalon, 2007-2010 Camry, 2010 Highlander, 2007-2010 Tundra, 2008-2010 Sequoia.

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Posted in Asia Pacific, Europe, North America, South America Tags: , , , , , , , , , , , , , , , , , , , , , , 5 Comments »

Oil India lists positive

Posted by Abhinav Seth on September 30th, 2009

OIL1 Oil India lists positive

Oil India Limited (OIL) lists at Rs. 1,096 on NSE (National Stock Exchange of India Ltd.) on September 30, 2009. By noon, the share touched a high of Rs. 1149.95 and was trading at Rs. 1,141.15 at 12:11pm IST (Indian Standard Time).

OIL is the second largest national oil and gas company after Oil and Natural Gas Corporation Limited (ONGC) in India as measured by total proved plus probable oil and natural gas reserves and production (Source: DGH).. The company is primarily engaged in the exploration, development, production and transportation of crude oil and natural gas onshore in India and also process produced natural gas to extract LPG. The company is present beyond the national borders through the exploration of crude oil and natural gas in Egypt, Gabon, Iran, Nigeria, Timor Leste and Yemen. (more…)

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Posted in Asia Pacific Tags: , , , No Comments »

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