May 21, 2018
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May 20, 2018

Tata’s acquisition of a bankrupt steel company on Friday is seen as a major victory in the Indian authorities’ war against the problem of bad loans, which are weighing on the country’s banks.

Tata Steel, part of the sprawling Tata conglomerate, announced its buyout of amajority stake for 364 billion rupees (Dh19.65bn) in Bhushan Steel, which is the first company to successfully emerge from India’s strict new insolvency and bankruptcy regime, aimed at tackling the problem of bad debt.

India’s"...

 
 
May 20, 2018

Just a few days into his role as the acting Indian Finance Minister, Piyush Goyal, took on a major task – to try to clean up the country’s beleaguered banking system.

Mr Goyal, whose usual role is as the Railways and Coal Minister, last Thursday gathered together the heads of 11 of India’s ailing public sector banks in New Delhi, as the industry continues to reel under the impact of the country’s largest ever bank loan fraud that came to light this year and the weight of bad loans.

“I"...

 
 
May 20, 2018

In the Middle East, the growth of the online beauty market may be starting from a lower level than Europe or the US, but it is accelerating.

One of the leading lights in the GCC is Golden Scent, a Saudi Arabian start-up platform. In February, the firm co-founded in 2014 by Malik Shehab, announced expansion plans after a successful December 2017 Series A funding round. In that round the company secured backing from major players including Saudi Aramco Entrepreneurship Ventures, Equitrust – the investment arm of Choueiri group – Wamda Capital and Raed Ventures"...

 
 
May 20, 2018

Greece and its creditors agreed on the next steps for completing the country’s final bailout review, a key milestone for exiting the programme and striking a deal on debt relief.

Government officials and representatives from the International Monetary Fund and euro-zone creditor institutions completed a week of discussions in Athens on Saturday. Greek Finance Minister Euclid Tsakalotos said reaching a technical deal to conclude the fourth bailout review, the so-called staff level agreement (SLA), paves the way for discussion of debt relief measures.

Euro-zone"...

 
 
May 20, 2018

Le Méridien Dubai Hotel & Conference Centre, a trend-setting leader in the hospitality industry, has welcomed four talented members to its leadership team.

Focused at uplifting food and beverage offerings, the hotel’s newly appointed executive assistant manager- food and beverage, Carlo Javakhia, brings over 20 years of experience across famous hospitality addresses in Europe’s and Middle East’s hospitality sectors. A result-oriented team player who thinks outside the box, Javakhia believes in leading by example. Passionate about innovating"...

 
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