Indias Exim Bank gets $60 mn to support small businesses

September 17th, 2009 COONOOR - State-run Export-Import (Exim) Bank will finance planters up to 50 percent for branding Indian organic tea in overseas markets, a top bank official said here. "We will lend planters by way of grant up to 50 percent to promote organic teas as Indian brands in international markets by getting geographical indication (GI) certification," Exim Bank chairman and managing director T.C.

September 14th, 2009 COONOOR - State-run Export-Import Bank of India (Exim Bank) will fund Indian firms to acquire plantation estates in African and South American countries, a top official said here Monday. "As these countries allow ownership to overseas investors, we will fund acquisition of farmlands, especially plantation estates by credit-worthy investors and financially-strong plantation firms," Exim Bank chairman and managing director T.C.

September 8th, 2009 WASHINGTON - The global economic crisis has encouraged a rash of government reforms that should make it easier to start, run and close businesses around the world, according to a World Bank report released Tuesday night. The annual "Doing Business" survey recorded more regulatory business reforms in more countries than any time since the report began in 2004.

August 4th, 2009 Australian bank to buy some RBS businesses in AsiaSYDNEY — Australia and New Zealand Banking Group Ltd. said Tuesday it had agreed to buy some Asian businesses of the Royal Bank of Scotland in a $550 million deal that advances the lender's regional expansion strategy.

July 30th, 2009 LONDON - A Brit Indian newsagent, Mukund Patel, has charged the Barclays Bank of fleecing him of over seven thousand pounds. Seventy-two-year-old Patel claimed that only did the bank take away his money, but it also told him to get a loan to cover the overdraft.ccording to The Sun, Patel paid in a 73.34-pound cheque at Barclays for his gas bill, but the bank debited 7,334 pounds - 100 times the amount - from his account.

July 27th, 2009 UK calls on banks to improve lendingLONDON — Britain's Treasury chief Alistair Darling will call on banks to reduce the costs of loans to small businesses as he attempts to halt the country's slide further into recession when he meets with banking executives later Monday. Darling is expected to tell executives from banks including Barclays PLC and the bailed out Royal Bank of Scotland PLC that they must do more to improve lending in return for massive taxpayer support.

July 25th, 2009 Regulators shut small bank in NYWASHINGTON — Regulators have shut Waterford Village Bank, a small bank in New York state, boosting to 58 the number of federally insured banks to fail this year. The Federal Deposit Insurance Corp.

July 23rd, 2009 NEW DELHI - The government will announce more sops for the slowdown-hit exports sector in the export-import policy (Exim) for 2009-10, which will be released next month, Commerce and Industry Minister Anand Sharma said here Thursday. "There will be certain measures.

July 20th, 2009 NEW YORK - Key creditors have agreed to put up $3 billion in financing for CIT group, a top lender for small US businesses that last week tottered on the brink of bankruptcy, the Wall Street Journal reported Sunday. The company wrung an agreement from creditors that will mean CIT can avoid bankruptcy and restructure outside of bankruptcy court, the Journal reported in a flash online.

June 30th, 2009 ADDIS ABABA - India may be slow off the block to procure business opportunities in Africa but its foray received a sweet boost after its flagship sugar factory project in Ethiopia got its first loan disbursement following settlement of a two-year dispute between two Indian contractors. The Export and Import (EXIM) Bank of India has finally released the first phase funding for the construction of Tendaho sugar factory following settlement of a row between two Indian companies.

June 27th, 2009 ADDIS ABABA -The Export and Import (EXIM) Bank of India is in negotiations with Ethiopian officials about the opening of an East African office in Addis Ababa. Board directors of the bank have already decided to open their East African office in Addis Ababa so as to support Indian companies' growing investment in eastern Africa, Indian embassy officials told IANS..

June 20th, 2009 BANGALORE - As the world grapples with economic meltdown, around 30 Commonwealth countries, including India, are set to explore small and green business opportunities for livelihood solutions to the rural poor. India's Tech hub Bangalore will host a six-day institutional capacity building programme on micro, small and medium enterprises (MSME) beginning from Sunday.

June 19th, 2009 NEW DELHI - The World Bank will extend a $180-million (Rs.900-crore) loan to India for upgrading its polluting coal-fired power plants and bringing down carbon emission, it said Friday. "The project, which is expected to lower carbon emissions and boost power production at these plants, is co-financed with a $45.4-million grant from the Global Environment Facility (GEF)," World Bank said in a statement.

May 1st, 2009 WASHINGTON - The World Bank has approved a $400 million additional financing loan to the Small Industries Development Bank of India (SIDBI), designed to improve access to finance for small and medium enterprises (SMEs). This additional financing will help scale up the fully disbursed original project which the World Bank had approved in November 2004, the bank announced Thursday.

January 11th, 2009 CHENNAI - Though its domestic sales have witnessed a steep fall, there is good news for India's second largest commercial vehicle manufacturer Ashok Leyland Limited, as it has bagged a export order from Honduras and Thailand, a senior official of the company said Monday. The company has bagged a $10.5 million order to supply 139 vehicles to Honduras Armed Forces (HAF) and the Royal Thai Army has approved purchase of 10 vehicles, the value of which is not known.