Mamata Banerjee installs Ishwar Chandra Vidyasagar’s statue in Kolkata

first_imgOther Videos from India 01:12 Wed, 23 Oct, 2019 Money laundering case: Karnataka Congress leader DK Shivakumar released from Tihar Jail 11:44 Wed, 23 Oct, 2019 Difficult to define motive at this stage: UP DGP OP Singh on terror angle in Kamlesh Tiwari murder case 00:42 Wed, 23 Oct, 2019 Kalka-New Delhi Shatabdi Express catches fire, no casualty reported 04:50 Wed, 23 Oct, 2019 Modi govt hikes MSP of rabi crops from 50 per cent to 109 per cent 02:31 Wed, 23 Oct, 2019 ED likely to initiate probe against self-styled godman Kalki Bhagwan 03:31 Wed, 23 Oct, 2019 Karnataka Congress leader DK Shivakumar granted bail in money laundering case 01:28 Wed, 23 Oct, 2019 Encounter breaks out in Delhi’s Connaught Place 47:56 Wed, 23 Oct, 2019 Haryana election: Manohar Lal Khattar next CM, Congress, JJP will be defamated, says BJP spokesperson Load More Other Video CategoriesIndiaSportsMoviesSo SorryProgrammelast_img read more

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Creditors Offer DSME USD 3.7 Billion Lifeline

first_imgzoom South Korea’s state-run creditors of Daewoo Shipbuilding & Marine Engineering (DSME) will pump additional KRW 4.2 trillion (USD 3.7 billion) into this shipbuilding giant hit by two consecutive quarters of multi-trillion losses caused by a falling number of newbuilding orders and further delivery delays in the offshore segment, The Korea Times reports.However, the two leading creditors – the Korea Development Bank (KDB) and Export-Import Bank of Korea (KEXIM) – will provide KRW 2.6 trillion and KRW 1.6 trillion respectively, only after the world’s second largest shipbuilder carries out drastic restructuring measures.KDB said that DSME needs to cut its exposure to offshore projects, which currently take up 50% of the shipbuilder’s orderbook, by 10%.The company is also expected to cut around 300 jobs, as well as sell or liquidate its wind power unit and a shipyard in Romania.DSME posted KRW 1.35 trillion (USD 1.2 billion) net loss for the quarter ended September 30, as well as KRW 2.39 trillion (USD 2.1 billion) loss for the quarter ended June 30, 2015. This was the company’s biggest ever quarterly loss.The company’s creditors have already injected KRW 2.9 trillion into the faltering shipbuilder so far.World Maritime News Stafflast_img read more

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