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Friday, November 27, 2009

L&T says Dubai exposure at $20-$25 mln

Indian engineering conglomerate Larsen & Toubro's exposure to Dubai is in the range of $20 million to $25 million, a senior company official told a television channel on Friday.

Developer DLF and Punjab National Bank said they had no current exposure to Dubai.a

"The expopsure is somewhere between $20 million to $25 million in terms of several retention amounts which are due, which if things go from bad to worse can become suspect receivables," L&T's executive vice president, Shankar Raman, told .

"We have no exposure as yet," R.I.S. Sidhu, chief general manager at Punjab National Bank, said over the telephone.

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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Thursday, Jul 17
19:30 NAHB Housing Market Index 1 33 33 32
19:30 Business Inventories 1 0% 0% 0%
20:00 EIA Natural Gas Storage Change 1 46B 44B 53B
21:00 4-Week Bill Auction 1 4.230% 4.235%
22:15 Fed's Daly speech 2
23:00 Fed's Cook speech 2
Friday, Jul 18
01:30 Net Long-Term TIC Flows 1 $-7.8B
01:30 Total Net TIC Flows 1 $-14.2B
04:00 Fed's Waller speech 2
08:30 Credit Card Spending (YoY) 1 2.2%
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