Belgium's KBC said Monday that write-downs on its collateralized debt obligation investments will knock around 900 million euros ($1.28 billion) off its bottom line in the fourth quarter.
Monday, December 29, 2008
Kuwait scraps massive Dow Chemical joint venture
Dow confirmed reports of the cancellation, saying its partners in the deal verbally informed it of the decision by Kuwait's top energy body, the Supreme Petroleum Council.
The move to scrap the petrochemical venture, which was to be known as "K-Dow," is a severe blow to Dow which had planned to use some of the proceeds to fund its acquisition of Rohm & Haas Co.
The move to scrap the petrochemical venture, which was to be known as "K-Dow," is a severe blow to Dow which had planned to use some of the proceeds to fund its acquisition of Rohm & Haas Co.
Lehman bankruptcy filing wiped out billions
Lehman Brothers Holdings Inc's emergency bankruptcy filing wiped out as much as $75 billion of potential value for creditors, The Wall Street Journal reported on Monday, citing an analysis by the bank's restructuring advisers.
The Journal said it was too early to say how much money Lehman creditors would recover; it said unsecured creditors have asserted they are owed $200 billion.
The Journal said it was too early to say how much money Lehman creditors would recover; it said unsecured creditors have asserted they are owed $200 billion.
BGR Energy In Pact With Italian Firm For Tech collaboration
BGR Energy Systems, leading energy equipment supplier, has announced that it has clinched a five-year technical collaboration and licence pact with Italy-based TME SpA Termomeccanica Ecologia (TME).
Under the agreement, TME would transfer and give technical knowledge for condensate polishing plants to BGR.
Under the agreement, TME would transfer and give technical knowledge for condensate polishing plants to BGR.
BHEL bags Rs 2,100-cr contract from NTPC
Bharat Heavy Electricals has revealed that it has secured Rs 2,100-crore order from NTPC.
The order has been bagged to supply and install main plant equipment for NTPC's Mauda Super Thermal Power Project in Nagpur.
Under the pact, the company would construct 2x500 MW steam generator and steam turbine generator packages at Mauda Supar Thermal Power Project.
Fortis Healthcare get nod to raise Rs 1800 crore
Fortis Healthcare Ltd, one of the leading player in the healthcare sector, has informed that company’s board of directors at its meeting on Wednesday has decided to raise Rs 1,800 crore through issue of fresh shares and warrants on rights basis to the existing shareholders.
The move includes Rs 1,000 crore from rights issue of equity shares. However, the company has not decided the ratio of rights issue and its share price.
Dish TV to add 200-250 channels by next year
Essel group company Dish TV is planning to add another 200 channels by next year to its bouquet to maintain its lead in the space.
The company presently carries about 225 plus channels, and it plans to increase it to 400-450 by next year.
Unitech To Merge All Telecom Arms
India-based Unitech, a leading real estate major, announced that it has decided to merge all its eight telecom wings into single entity.
According to sources, the main motive behind merging of all telecom subsidiaries is to handle company’s telecom business more expeditiously.
The proposed eight telecom subsidiaries together cover all 22 telecom circles in the country.
Unitech is searching the options to introduce their telecom services by the middle of coming year.
BHEL wins order worth Rs 5040 crore from Jindal Power
Bharat Heavy Electricals Limited (BHEL), the nation's biggest power- equipment maker, has secured an order worth Rs 5,040 crore from Jindal Power for setting up 2,400 MW power plant in Chhatisgarh.
Simplex Projects bags order worth Rs 75 crore
Delhi-based real estate company Simplex Projects Limited has informed that it has secured a contract worth Rs 75 crore from NDMC.
Under the arrangement, the company will carry out major renovation and improvement work of Talkatora Indoor stadium, which will host the boxing events during the Common Wealth Games 2010.
JPL To Increase Tamnar Plant Capacity To 3,400 MW Over 4 Yrs
indal Power Ltd (JPL) has revealed that it envisage to increase the electricity producing capacity of its Tamnar power plant in the district.
According to sources, the company will enhance electricity producing capacity by 2,400 MegaWatt to 3,400 MegaWatt over the coming four fiscals.
ACC may shut more plants if weak demand continues
ACC which had temporarily shut a plant in Himachal Pradesh this month has said that it has kept all options open for the same kind of temporary close down for its other locations in case, there is no reasonable demand for its products,
Unitech plans two SEZs in Haryana
Unitech, India`s second largest realty company, is planning to set up Special Economic Zones (SEZ) in Haryana one for automobiles industry and another for apparel industry and plans to approach the government for approval
PNB in JV with Bhutanese promoters
Punjab National Bank (PNB) announced that Royal Monetary Authority of Bhutan has accorded an in-principle approval for setting up the `Druk PNB Bank`, a joint venture (JV) bank between PNB and Bhutanese Promoters.
Novopan Ind. board clears merger with GVK Projects
Novopan Industries has announced that the board of directors of the company at its meeting held on Dec. 27, 2008 approved the proposal of amalgamation of GVK Projects with that of Novopan Industries by way of exchange of shares and approved the same based on its merits, with effect from Apr.01, 2008, being the appointed date.
Compucom Software bags order worth Rs 76.7 mn
Compucom Software announced that it has been awarded an order by Secondary Education Department, Rajasthan for supply of various software packages of Microsoft in 2500 government schools of Rajasthan
KEC International bags order worth Rs 63.6 bn
The Rs 30 billion-plus KEC International (KEC), a global leader in the power transmission EPC business and the transmission flagship of the RPG Enterprises, on Dec. 29, 2008 bagged the largest ever international order in the company`s history. The order is valued at Rs 63.6 billion and will be funded by the European Investment Bank and the Egyptian National Bank. This is also the largest ever order given to an Indian transmission company in Egypt.
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