Premium
This is an archive article published on December 16, 1998

Bizbits

Canara Bank assets frozenMANAMA: Bahrain's High Court has frozen the liquid assets of an Indian bank in the Gulf emirate that is in dispu...

google-preferred-btn
.

Canara Bank assets frozen

MANAMA: Bahrain8217;s High Court has frozen the liquid assets of an Indian bank in the Gulf emirate that is in dispute with a local exchange company, a newspaper said today. The gulf daily news said the assets were frozen yesterday after legal action by Dalil Exchange. The chairman of Dalil Exchange, quoted in the paper, charged the Canara Bank, based in Bangalore, was refusing to honour drafts issued by the company for Indian expatriates sending remittances home. quot;We confirm our intention to take similar action in all Gulf countries and already necessary measures have been taken in the UAE ,quot; said Sheikh Ibrahim Ibn Rashid Al-Khalifa. Some 105,000 Indians live in Bahrain, making up the largest expatriate community.

IRFC clinches 75m loan

MUMBAI: The Indian Railway Finance Corporation IRFC has contracted a 10-year, 75-million equivalent yen cross-border loan priced at 185 basis points over Libor. The deal, put through by co-ordinating arrangers ABN Amro Bank andSBI, was oversubscribed and is a refinance one for an earlier IRFC yen loan availed of from the J-Exim Bank in 1988 as also the first-ever long-term dollar-yen swap in the cross-border loan market. ABN chief manager Richard R du Cloux said: quot;We first contracted a floating-rate dollar loan for 75 million, but as IRFC was more comfortable with a fixed-rate yen loan, we had the dollar facility swapped in to a yen liability.quot;

 

Latest Comment
Post Comment
Read Comments
Advertisement
Loading Taboola...
Live Blog
PHOTOS
In pics: From concept supercars to electronic SUV's: Bharat Mobility Global Expo 2025 was all about innovation
In Pics: From Concept Supercars to Electric SUVs – Innovation at Bharat Mobility Global Expo 2025
Top Stories
Iran
What US could do in Iran, and what India will watch out for
beef slaughterhouse
Beef linked to slaughterhouse under BJP jurisdiction becomes headache for party in MP
border 2 real life story varun dhawan
Border 2: Real-life story of Major Hoshiar Singh, he fought alongside Arun Khetarpal, said Pakistanis 'ne badi maar khayi'
Raj Kapoor, Dev Anand
Drunk Raj Kapoor called Dev Anand at 2 am, demanding to watch Guide, cried over the phone: 'He remembered nothing the next day'
UP e-rickshaw driver snake bite
UP e-rickshaw driver carries snake in jacket to Mathura hospital after being bitten; video goes viral
Delhi startup founders gift car to employee
'I’m shaking': Delhi startup founders gift SUV to first employee for his ‘loyalty’; internet calls it ‘real appreciation’
IND vs NZ 2nd ODI Live Cricket Score: Catch live updates from the India vs New Zealand match in Rajkot today.
India vs New Zealand Live Cricket Score, 2nd ODI
He’s spent a decade doing this in senior hockey, but Harmanpreet still calls himself a ‘learner’. (Soorma HC)
Always Watching: Harmanpreet Singh and the mind games behind his drag-flicks
modi and merz
Modi and Merz are looking at 'Indo-Europe' to balance America and China
Shaksgam: MEA spokesperson Randhir Jaiswal addresses a press conference, in New Delhi on Friday.
Amid India’s reassertions, recalling how Pakistan ceded Shaksgam Valley to China
Ranbir Kapoor and Deepika Padukone during Tamasha promotions
‘We expected a fight’: Yeh Jawaani Hai Deewani actor recalls Ranbir Kapoor and Deepika Padukone’s professionalism on set post-breakup
(Image: The Indian Express/ Anuj Bhatia)
From factory floors to AI labs: Samsung’s JB Park on creating ecosystem of industrial design in India
Advertisement
Must Read
India vs New Zealand Live Cricket Score, 2nd ODI
IND vs NZ 2nd ODI Live Cricket Score: Catch live updates from the India vs New Zealand match in Rajkot today.
Always Watching: Harmanpreet Singh and the mind games behind his drag-flicks
He’s spent a decade doing this in senior hockey, but Harmanpreet still calls himself a ‘learner’. (Soorma HC)
WPL 2026: Harmanpreet Kaur rescues Mumbai Indians again, ensures seven-wicket win over Gujarat Giants
Harmanpreet began cautiously, conscious of the asking rate and the wickets lost, before shifting gears once she found her rhythm. (Express Photo by Narendra Vaskar)
From factory floors to AI labs: Samsung’s JB Park on creating ecosystem of industrial design in India
(Image: The Indian Express/ Anuj Bhatia)
Ultracold atoms: From the world’s best clocks to future quantum computers
Laser light slows atoms to near absolute zero, revealing a glowing quantum cloud where matter behaves as a single wave-like object. (AI-generated image for representation/DALLE)
7 free Google AI tools that rival paid alternatives
These free tools present opportunities for creators, educators, and small businesses. (Image: FreePik)
‘We expected a fight’: Yeh Jawaani Hai Deewani actor recalls Ranbir Kapoor and Deepika Padukone’s professionalism on set post-breakup
Ranbir Kapoor and Deepika Padukone during Tamasha promotions
Advertisement
Buzzing Now
UP e-rickshaw driver carries snake in jacket to Mathura hospital after being bitten; video goes viral
UP e-rickshaw driver snake bite
'I’m shaking': Delhi startup founders gift SUV to first employee for his ‘loyalty’; internet calls it ‘real appreciation’
Delhi startup founders gift car to employee
From security guard to podcast producer: The parking lot chat that changed a man's life forever
Detailing the heartwarming story on X, Lodha shared he saw “hunger” to learn in Katkar and trained him
Rs 780 for tea; Rs 1,512 for poha: This Bihar vendor, a Jesus Christ lookalike, is turning Indian breakfast into a sensation in Los Angeles
The viral video shows Prabhakar Prasad revealing the prices of the tea and poha he sells in Los Angeles
Tamil Nadu CM Stalin expresses gratitude to Anand Mahindra for hailing Chennai's bio mining initiative to clear 50 lakh metric tonnes of waste from Perugudi site
Tamil Nadu CM M K Stalin informed that the remaining waste will be cleaned by February 2027
Jan 14: Latest News
Advertisement