India's troubled Infrastructure Leasing and Financial Services Ltd (IL&FS), whose recent defaults have roiled Indian markets, said on Sunday its shareholders have approved a plan allowing it to raise fresh funds through debt and equity issuances.
India's government is moving to take control of Infrastructure Leasing and Financial Services (IL&FS), two Indian television channels reported on Monday, in a rare move underscoring the extent of the issues at the troubled infrastructure financing and construction behemoth.
The Reserve Bank of India (RBI) said on Monday it would pump 360 billion Indian rupees ($4.95 billion) into money markets in October in its latest attempt to stem fears of a cascading credit crunch, pledging to buy back bonds after the government dramatically reduced its own borrowing by 700 billion rupees on Friday.
IFG Capital, a Luxembourg-based company with roots in the former Soviet Union, plans investments to develop seven tungsten deposits in Uzbekistan, aiming to account for 6 percent of global output, a company executive told Reuters.
The new U.S.-Mexico-Canada Agreement on trade will preserve President Donald Trump's ability to impose threatened 25 percent global tariffs on autos while largely exempting passenger vehicles, pickup trucks and auto parts from Canada and Mexico, a side-letter to the agreement showed on Monday.
Factory activity in Asia weakened in September, with many trade- reliant economies seeing a slump in export orders in a sign that escalating U.S.-China tensions are taking a toll on business confidence.
The United States and Canada forged a last-gasp deal on Sunday to salvage NAFTA as a trilateral pact with Mexico, rescuing a three-country, $1.2 trillion open-trade zone that had been about to collapse after nearly a quarter century.
Indian factory activity expanded more quickly in September on strong domestic and export order growth, a business survey showed, a welcome sign of strength as policy makers worry about a sharp drop in the rupee and fallout from global trade frictions.