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Quick View : NTPC Ties Up $100-M Capex Loan With Mizuho Bank

  • : NTPC ties up $100-m capex loan with Mizuho Bank

  • To part finance its capex, NTPC has tied up a loan of $100 million with the Japanese Mizuho Corporate Bank. NTPC has signed a loan facility of $100 million (about R500 crore) with Mizuho Corporate Bank on March 16, the company informed BSE. The loan will be spent on capital expenditure for the company's ongoing as well as new projects, NTPC said. It would also be utilised for financing coal mining projects and renovation and modernisation of power stations. NTPC is planning to invest R24,000 crore on setting up a thermal plant of 4,000 MW at Vishakhapatnam, in Andhra Pradesh. The state government will facilitate land availability and coal linkage for the project.

  • PSU bank NPAs up 51% to over R1,00,000 crore

  • Public sector banks' gross bad debt jumped over 51% to a whopping R1,03,891 crore in 2011, minister of state for finance Namo Narain Meena said on Tuesday. Replying to supplementaries during the Question Hour in Rajya Sabha, he said the gross non-performing assets (NPAs) of public sector banks have increased from R68,597.09 crore at December 2010-end, to R103,891.27 crore as on December 2011.

  • LIC sees degrowth in Ulip this fiscal: Finmin

  • The government said Life Insurance Corporation of India (LIC) has seen a degrowth in sales of unit linked insurance plans (Ulip) in the current financial year. “There is a degrowth on Unit Linked Insurance Plan (Ulip) which is a trend among the whole insurance industry," minister of state for finance Namo Narain Meena said in a written reply to the Rajya Sabha. To a question on sales of various products of LIC, Meena said, “On the conventional plans there is growth rate of 11% in policies and 22% in premium till end of February 2012.”

  • Goldman Sachs cuts staff in annual review process

  • Goldman Sachs Group has begun a new round of staff cuts in its trading and investment banking divisions, three sources familiar with the matter said, a sign of continued cutbacks on Wall Street. The job cuts follow 2,400 positions Goldman eliminated last year, and further reductions are possible as the company continues to reduce costs to raise profitability, the sources said.

  • Deutsche Bank’s co-chief earned 5.8 m euros in ’11

  • German lender Deutsche Bank said co-chief executive designate Anshu Jain earned 5.8 million euros in 2011, down a quarter and less than 6.3 million awarded to his boss Josef Ackermann. Jain is set to take over as co-CEO alongside Juergen Fitschen, who saw a slight decline in his pay to 2.9 million euros, when Ackermann steps down in May. In 2011, eight executives who served on management board took home 26.4 million euros, down nearly a fifth and reflecting a slowdown in profitability for the industry.

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