Key India bankruptcy law upheld in win for smoother resolutions

New Delhi. India’s top court upheld a law that bars founders of companies that have defaulted on loans from buying back stressed assets, in a ruling that may help the nation more quickly resolve bad debts. The Supreme Court said a provision of the bankruptcy law that prevents founders from regaining control of delinquent companies […]

Car buying in UAE slowly moving online

Dubai: Car buyers in the UAE could soon save themselves a trip to the showroom. Instead they could sit at home to make a purchase of the model they desire, accessorise it and make the payment. Even the registration paperwork could be completed online. One would say that Tesla is already doing so in whichever […]

Turkey’s Albayrak targets ‘soft landing’ after Lira crash

Istanbul: The man in the cockpit of the Turkish economy is preparing it for a “soft landing” after bouts of severe currency turbulence. While Turkey is increasingly at risk of its first recession in a decade, Treasury and Finance Minister Berat Albayrak said the economy is actually showing signs of a slowdown in line with […]

‘World’s cheapest car’ nears end of the road in India

Mumbai: It was billed as the world’s cheapest car and shaped like a jelly bean — but after a bumpy 10-year ride India’s Tata Nano is nearing the end of the road. Tata Motors, India’s top automaker, said on Thursday that it could stop manufacturing and selling the vehicle from April next year due to […]