When You Should File Early for Social Security

Indias hcc in talks to restructure loans sources


´╗┐MUMBAI, March 2 India's Hindustan Construction Company Ltd (HCC) is in talks with banks to restructure roughly $700 million in loans, several sources involved in the matter said on Friday. Loans held by related companies could bring the total of loans to be restructured to about $1.2 billion, two of the sources said. ICICI Bank, India's No.2 lender, is the leader of the consortium which includes Axis Bank and IDBI Bank , one of the sources said. HCC, which builds roads, bridges and power projects, posted a net loss of about $26 million in the December quarter due to higher interest costs and delays in execution.

Indian real estate and construction companies have been hit hard by a slowdown in economic growth and high interest rates in Asia's third-largest economy.

The company did not say whether it was seeking to restructure its loans."HCC as a prudent policy regularly engages with bankers to find long-term solutions so that project execution does not suffer and growth maintained," the company said in a statement to Reuters.

"Sometimes it becomes necessary to hold all lenders meet to address the issues," it said, adding that "follow-up measures" will help it improve finances and shore up its balance sheet. HCC had to stop work for a year starting in late 2010 at its ambitious Lavasa hill city project near Pune in western India due to government wrangling over green laws, costing the company $400,000 a day and forcing the company to abandon plans IPO plans for the project.

Indonesian loan growth accelerates in sept


´╗┐JAKARTA Nov 17 Loans by Indonesian banks expanded 11.1 percent in September from a year earlier, central bank data showed on Tuesday, accelerating from a 10.9 percent annual pace in August. Bank Indonesia has said rising loan expansion is an early sign of recovery for economic growth. It expects the pace to reach 12 percent by year-end.

In the third quarter, annual economic growth edged up to 4.73 percent, but many economists said the increase was not enough to show that a real turnaround has begun.