Congress Bailouts

  • JOHANNESBURG, April 19- South Africa's government has had to bring forward the bailout of state power firm Eskom, after it rushed 5 billion rand to the struggling utility earlier this month to avert a default and said more cash could be needed soon. But by the end of March, Eskom was experiencing difficulties raising funding, according to a finance ministry report...

  • JOHANNESBURG, April 19- South Africa's government rescued Eskom from default early this month by giving the struggling state power firm $355.5 million to help it meet its obligations, according to a finance ministry report to parliament seen by Reuters. The 5 billion rand transfer, authorised on April 2, falls within the 23 billion rand a year bailout the South...

  • *Greece plans to file request to ESM this week- source. ATHENS, April 15- Greece plans to file a request this week seeking the euro zone bailout fund's consent to the early repayment of expensive loans owed to the International Monetary Fund, a source close to the process told Reuters Monday. Greece wants to repay about 3.7 billion euros in IMF loans, the source said.

  • LONDON, April 15- Greek government bond yields were closing in on record lows on Monday after an official said a deal to repay International Monetary Fund loans is imminent, which would mark another step forward from the Athens debt crisis. Greece will this week seek the consent of the European Stability Mechanism-- the euro zone's bailout fund-- for the early...

  • ISLAMABAD, April 15- Pakistan has reached an "agreement in principle" with the International Monetary Fund over a bailout programme and expects to formally secure a rescue package later this month, a Pakistani minister said on Monday. The long-delayed rescue package would be Pakistan's 13th IMF bailout programme since the late 1980 s and comes at a time of...

  • ISLAMABAD, April 15- A mission team from the International Monetary Fund will travel to Pakistan this month, the IMF said on Monday, amid growing expectation that talks on a long-delayed bailout are due to be wrapped up soon. Pakistan was last year expected to sign up for its 13th IMF bailout programme since the late 1980 s but talks ground to a halt, with Pakistani...

  • *China- Taiwan group to inject 80 bln yen, get 49.8 pct stake. TOKYO, April 12- A Chinese-Taiwanese group will take control of Apple Inc supplier Japan Display after pumping in funds as part of a 232 billion yen bailout plan for the troubled display panel maker. The buyer group, which includes Taiwanese flat screen maker TPK Holding and Chinese investment firm...

  • *China- Taiwan group to inject 80 bln yen, gets 49.8 pct stake. TOKYO, April 12- Apple Inc supplier Japan Display said on Friday it has signed a long-awaited deal under which it will receive a 232 billion yen bailout that will give a Chinese-Taiwanese group a near-majority stake in the firm. The group which includes Taiwanese flat screen maker TPK Holding and China...

  • TOKYO, April 12- Apple Inc supplier Japan Display Inc said on Friday it will raise 117 billion yen in a bailout from a Chinese-Taiwanese group and from its top shareholder. The group, which includes Chinese asset management group Harvest and Taiwanese touch panel maker TPK Holding, will inject a combined 80 billion yen by buying shares and bonds.

  • WASHINGTON, April 11- The euro zone is better prepared for a potential crisis now than 10 years ago, but there are some elements that are still missing before it can call itself truly crisis-proof, the head of the euro zone bailout fund ESM Klaus Regling said on Thursday. Speaking at a Bruegel think-tank event on the sidelines of the International Monetary Fund...

  • LONDON, April 8- Greece's 10- year government bond yields hit their lowest level in over 13 years on Monday, as encouraging headlines boosted sentiment and zero percent Bund yields pushed investors towards riskier investments. On Friday, euro zone finance ministers agreed to disburse 970 million euros as a grant to Greece as part of a post-bailout program, euro...

  • LONDON, April 8- Greece's 10- year government bond yields hit their lowest level in over 13 years on Monday, as encouraging headlines boosted sentiment and zero percent Bund yields pushed investors towards riskier investments. On Friday, euro zone finance ministers agreed to disburse 970 million euros as a grant to Greece as part of a post-bailout programme,...

  • *De-registration of planes in India easier, but long process. NEW DELHI, April 5- Lessors to Jet Airways Ltd are planning to ask India's aviation regulator to de-register many more planes leased to the airline, three sources said, signalling a planned bailout of the debt-laden carrier is failing to assuage their concerns. About six lessors are expected to apply to...

  • ATHENS, April 3- No binding bids have been submitted for a majority stake in Greece's biggest oil refiner Hellenic Petroleum, dealing a blow to a key part of a planned sell-off of state assets mandated by international bailouts. Switzerland- based commodities trader and miner Glencore had teamed up with CIEP Participations, and Vitol, the world's largest oil...

  • SASOLBURG, South Africa, April 3- The highest levels of South Africa's government are considering a variety of additional financial support measures for struggling state power firm Eskom, Public Enterprises Minister Pravin Gordhan said on Wednesday. South Africa's government said in February that it would give Eskom a 69 billion rand bailout over the next...

  • Berlin owns 15.6 percent in Commerzbank after a bailout a decade ago, and lawmakers have called on Finance Minister Olaf Scholz to get rid of the stake to avoid future risks for the budget if Commerzbank should merge with its larger rival. In an answer to a parliamentary request seen by Reuters, the Finance Ministry said that the Commerzbank share price, or the...

  • TOKYO, March 22- When Japan Display Inc broke ground on a new factory in central Japan in 2015, the future looked bright for one of the world's top vendors of liquid crystal display panels. Desperate for capital, Japan Display is looking to an investor group, led by China Silkroad Investment Capital, for a bailout, two sources with direct knowledge of the matter said.

  • PRETORIA, March 7- South Africa's struggling state power firm Eskom may need more bailouts from government to survive, after the country's energy regulator on Thursday granted it smaller tariff hikes than the utility had wanted. Eskom supplies more than 90 percent of the power in Africa's most industrialized economy. "There will have to be painful reform for...

  • *Jet lessors holding new planes in Seattle pending pay- Boeing. SINGAPORE/ BENGALURU, Feb 21- International lessors have grounded more Jet Airways planes prior to potentially moving them out of India, as skepticism builds whether a state-led bailout of the carrier can clear their dues on time, sources familiar with the matter said. The troubles at India's Jet,...

  • *Moody's reviews South Africa in late March. CAPE TOWN, Feb 21- Ratings agencies signalled their concern with South Africa's budget on Thursday, saying a 23 billion rand a year bailout for struggling state utility Eskom exemplified growing strain on the public purse before an election in May. The bailout forms part of efforts by President Cyril Ramaphosa, who...