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Asia stutters as China doles out meagre rate cut Asian markets stumbled on Monday after China delivered a smaller cut to lending rates than markets had counted on, continuing Beijing's run of disappointing stimulus steps. China's central bank trimmed its one-year lending rate by 10 basis points and left its five-year rate unmoved, a surprise to analysts who had expected cuts of 15 basis points to both. Disappointment at the meagre move saw Chinese blue chips ease 0.3%, while the Australian dollar took a dip as a liquid proxy f...
Asia stutters as China doles out meagre rate cut
Asia stutters as China doles out meagre rate cut
Source: Reuters
21/08/2023 8:51:37 AM
Adani New Industries Limited raises trade finance facility of USD 394 mn from Barclays, Deutsche Bank. Adani New Industries Limited (ANIL) ecosystem on Thursday raised trade finance facility of USD 394mn (Rs 3,231 Cr) from Barclays PLC and Deutsche Bank AG for securing working capital requirements of its integrated solar module manufacturing facility. ANIL, a wholly owned subsidiary of Adani Enterprises Ltd, is building an ecosystem of one of the largest integrated green hydrogen businesses, including solar modules and wind turbine manufacturing.
Adani New Industries Limited raises trade finance facility of USD 394 mn from Barclays, Deutsche Bank.
Adani New Industries Limited raises trade finance facility of USD 394 mn from Barclays, Deutsche Bank.
Source: IANS
28/07/2023 9:13:36 AM
SMFG India Credit elevates Swaminathan Subramanian as Chief Operating Officer SMFG India Credit Co. Ltd. (Formerly Fullerton India Credit Co. Ltd.) has announced the appointment of Swaminathan Subramanian (Swami) as Chief Operating Officer (COO). Swami was previously the company’s Chief People Officer (CPO), and in his new elevated role he will now manage Operations, Technology, Legal, Enterprise Services, Human Resources, and CSR. Swami brings a wealth of experience and proven leadership skills to his new position, having played a vital role in the company's...
SMFG India Credit elevates Swaminathan Subramanian as Chief Operating Officer
SMFG India Credit elevates Swaminathan Subramanian as Chief Operating Officer
Source: PR Agency
5/07/2023 11:05:17 AM
IIHL receives Rs 50,000 cr financial offers from overseas lenders for Reliance Capital acquisition The Hinduja Group arm, IndusInd International Holding Ltd. (IIHL), which emerged the highest bidder for Reliance Capital in the recently concluded auction, is firmly in the driver's seat as the company has already received Rs 50,000 crore worth of funding offers from the leading overseas lenders to fund the acquisition. Some of the leading banks and financial institutions who have extended commitment letters to IIHL are JP Morgan, Standard Chartered Bank, Barclays, Apollo Global Manage...
IIHL receives Rs 50,000 cr financial offers from overseas lenders for Reliance Capital acquisition
IIHL receives Rs 50,000 cr financial offers from overseas lenders for Reliance Capital acquisition
Source: IANS
1/05/2023 10:48:01 AM
European bank shares drop after Credit Suisse bailout European bank shares are proving volatile as investors remain concerned about wider problems in the industry. Major falls were seen in early trading in Germany's Deutsche Bank and France's BNP Paribas, although shares in both have since recovered some losses, the BBC reported. BNP is still down about 5 per cent and Deutsche Bank 6 per cent. In the UK, shares in Standard Chartered, HSBC and Barclays also took an early hit. UBS, which was responsible for buying out its troub...
European bank shares drop after Credit Suisse bailout
European bank shares drop after Credit Suisse bailout
Source: IANS
20/03/2023 3:49:09 PM
Indian rupee to outperform Asian peers amid uncertain Fed rate path Improving macroeconomic fundamentals have made the Indian rupee more resilient, but the central bank's 'hands-on' approach amid periods of volatility will also ensure the rupee outperforms its Asian peers going ahead, strategists and analysts said. The rupee has dropped 1% versus the U.S. dollar so far in February, as uncertainty over the future trajectory of the Federal Reserve's rate hikes rocked markets globally, but its losses have been lower than most other Asian curre...
Indian rupee to outperform Asian peers amid uncertain Fed rate path
Indian rupee to outperform Asian peers amid uncertain Fed rate path
Source: Reuters
24/02/2023 1:43:09 PM
Dollar pullback ahead of U.S. inflation data to lift rupee at open The Indian rupee was poised to open higher against the U.S. dollar, tracking a broad pullback on the currency in the lead-up to key U.S. inflation data due later on Tuesday. The non-deliverable forward market indicated an opening of around 82.60 for the rupee compared with 82.7175 in the previous session. Intraday position takers were not likely to chase the USD/INR pair lower at open, a spot trader at a Mumbai-based bank said. The overnight risk of the U.S. data and India's surp...
Dollar pullback ahead of U.S. inflation data to lift rupee at open
Dollar pullback ahead of U.S. inflation data to lift rupee at open
Source: Reuters
14/02/2023 8:52:34 AM
India FY24 capex may rise 30% with focus on growth - Barclays MUMBAI - India's federal government is likely to increase capital expenditure by 30% to 9 trillion rupees ($110.59 billion) in the next fiscal year to fuel growth, Barclays said. "In a pre-election year, we do not expect any material push to increase the pace of fiscal consolidation, and any extra fiscal room is likely to be spent in order to ensure economic growth remains robust," economists Rahul Bajoria and Shreya Sodhani said in a note on Friday. The analysts expe...
India FY24 capex may rise 30% with focus on growth - Barclays
India FY24 capex may rise 30% with focus on growth - Barclays
Source: Reuters
13/01/2023 11:57:03 AM
Rupee may inch higher after yuan's jump on reopening hopes The Indian rupee is likely to open marginally higher versus the U.S. dollar on Monday after the Chinese yuan climbed above a key level on optimism over the country's reopening. The rupee is expected to open at around 81.25 per dollar, compared with 81.3175 in the previous session. The onshore yuan jumped about 1% against the dollar to 6.9792, breaching the 7-level to hit its highest in two-and-a-half months and adding to last week's 1.5% advance. More Chinese cities in the far w...
Rupee may inch higher after yuan's jump on reopening hopes
Rupee may inch higher after yuan's jump on reopening hopes
Source: Reuters
5/12/2022 9:08:02 AM
Citi expects global growth to slow below 2% in 2023 Citigroup on Wednesday forecast global growth to slow to below 2% next year, echoing similar projections by major financial institutions such as Goldman Sachs, Barclays, and J.P. Morgan. Strategists at the brokerage cited continued challenges from the COVID-19 pandemic and the Russia-Ukraine war — which skyrocketed inflation to decades-high levels and triggered aggressive policy tightening — as reasons behind the outlook. "We see global performance as likely (being) pla...
Citi expects global growth to slow below 2% in 2023
Citi expects global growth to slow below 2% in 2023
Source: Reuters
30/11/2022 2:57:29 PM
India inflation likely slowed in October, still well above RBI target band Indian consumer price inflation slowed in October to 6.73% on weaker food price rises and a strong base one year ago but remained stubbornly well above the 6% upper limit of the Reserve Bank of India's tolerance band, a Reuters poll predicted. That inflation rate, measured by the annual change in the consumer price index (CPI), is forecast to slip sharply from 7.41% in September, according to the median view from a Nov. 2-9 Reuters poll of 47 economists. Forecasts ranged from 6.40% ...
India inflation likely slowed in October, still well above RBI target band
India inflation likely slowed in October, still well above RBI target band
Source: Reuters
10/11/2022 9:25:34 AM
India July retail inflation may ease to 5-month low - Barclays  India’s headline retail inflation is expected to ease to its lowest level in five months in July due to declining food prices as well as the lagged effect of a cut in fuel taxes, Barclays said. "There is more evidence that inflation in India has peaked for now, and it is likely to slow faster than RBI’s published trajectory, coming into the target band by October, according to our latest tracking estimate," Rahul Bajoria, chief India economist at Barclays, said ...
India July retail inflation may ease to 5-month low - Barclays
India July retail inflation may ease to 5-month low - Barclays
Source: Reuters
3/08/2022 4:58:16 PM
Record trade deficit adds to India's external balance challenges, rupee woes  India's record high trade deficit in July signals a further deterioration in the country's external balances, which is likely to keep the rupee under pressure, analysts said on Wednesday. Trade deficit in Asia's third largest economy widened to an all-time high of $31 billion, data on Tuesday showed, prompting concerns about the country's ability to fund its current account deficit and hurting the outlook for the rupee. "I think after looking at the July trade...
Record trade deficit adds to India's external balance challenges, rupee woes
Record trade deficit adds to India's external balance challenges, rupee woes
Source: Reuters
3/08/2022 11:00:23 AM
Adani Airports raises $250 mn for airports development Adani Airport Holdings Ltd (AAHL), a wholly owned subsidiary of Adani Enterprises Ltd, has announced a successful closure of funding of $250 million senior secured three-year ECB facility from consortium of Standard Chartered Bank (SCB) and Barclays Bank PLC. The facility has an option to raise additional $200 million. The financing structure enables a scalable capital solution with flexibility to tap global capital markets in line with AAHL's vision of providing a transformational ...
Adani Airports raises $250 mn for airports development
Adani Airports raises $250 mn for airports development
Source: IANS
9/05/2022 11:55:17 AM
Key News - Vodafone Group, Robert Bosch, Barclays, By ARETE Securities Key News Vodafone in talks to sell 5% stake in Indus Towers to Bharti Airtel: Report British telecom giant Vodafone is in discussions to sell around five per cent stake in Indus Towers to Bharti Airtel, according to industry sources. Vodafone currently holds about 28 per cent in Indus Towers. Vodafone's stake of 757.8 million Indus shares was worth roughly Rs 19,070 crore ($2.56 billion) as of Indus's Wednesday closing price on National Stock Exchange.   Bosch acqu...
Key News - Vodafone Group, Robert Bosch, Barclays, By ARETE Securities
Key News - Vodafone Group, Robert Bosch, Barclays, By ARETE Securities
Source: ARETE Securities Ltd
24/02/2022 9:22:01 AM
Decrease in prices of perishables may moderate September inflation to 4.62%: Barclays Correction to prices of perishables in the food basket may result in moderation of CPI inflation to 4.62 per cent year-on-year, Barclays said on Wednesday. In a research report focused on India, the investment banker said that decline in prices of perishable foods should ease inflation further in September, but a diverse set of temporary shocks should push up core inflation.   The elevated global commodity prices continue to exert upward pressure on India's import basket. Overal...
Decrease in prices of perishables may moderate September inflation to 4.62%: Barclays
Decrease in prices of perishables may moderate September inflation to 4.62%: Barclays
Source: IANS
6/10/2021 12:35:33 PM
Barclays again lowers India`s FY22 growth forecast As India battles the severe second wave of Covid-19 and the states undergo lockdowns, Barclays has cut its growth estimate for India for the current financial year to 9.2 per cent. Its earlier estimate was 10 per cent. "We reduce our baseline FY2021-22 GDP growth forecast again, lowering it to 9.2 per cent y/y from 10 per cent earlier, and 11 per cent before the outbreak of the second wave," it said in a report. It noted that although India's second Covid-19 wave has st...
Barclays again lowers India`s FY22 growth forecast
Barclays again lowers India`s FY22 growth forecast
Source: IANS
25/05/2021 12:33:01 PM
British banks fund supplies to help COVID-stricken India LONDON - Barclays has funded 1 million pounds ($1.4 million) worth of medical supplies for India in the last week, as British banks with big operations in the country increase support to their own staff and wider communities. India's total coronavirus cases exceeded 18 million on Thursday after another record number of daily infections added to the strain on overwhelmed hospitals. Employers in India have set up COVID-19 "war-rooms" to source oxygen, medicine and hospital b...
British banks fund supplies to help COVID-stricken India
British banks fund supplies to help COVID-stricken India
Source: Reuters
30/04/2021 5:03:24 PM
India`s economic fallout from second virus wave may be limited - Barclays BENGALURU - India's accelerated vaccination drive may limit the economic disruption caused by a resurgence in COVID-19 cases, Barclays said in a note on Monday, although it warned that shortages in vaccine supply could weigh on the campaign's progress. India racked up the world's highest daily tally of coronavirus infections with 168,912 new cases on Monday, overtaking Brazil as the second-most affected country by the pandemic and causing a plunge in Indian stocks and the rupee...
India`s economic fallout from second virus wave may be limited - Barclays
India`s economic fallout from second virus wave may be limited - Barclays
Source: Reuters
12/04/2021 4:38:32 PM
Barclays lifts 2021 oil price outlook on tighter U.S. supply view Barclays raised its 2021 oil price forecast on Thursday, citing weaker than expected supply response from U.S. producers to higher prices and normalizing inventories after last week's cold storm in Texas. The bank increased its 2021 Brent crude oil price outlook by $7 to $62 per barrel and West Texas Intermediate (WTI) crude price estimate by $6 to $58 a barrel. "Colder-than-normal weather, especially in the southern states, has accelerated the normalization in inventories by d...
Barclays lifts 2021 oil price outlook on tighter U.S. supply view
Barclays lifts 2021 oil price outlook on tighter U.S. supply view
Source: IANS
25/02/2021 2:47:28 PM
Barclays resumes dividend as annual profit halves LONDON - Barclays has resumed modest shareholder payouts after a year-long hiatus due to the COVID-19 pandemic, setting expectations other British lenders will follow suit when they report 2020 earnings in the next few days. The resumption came as Barclays' profit fell by half, much less than forecast as a strong performance by its investment bank offset provisions against bad loans from the economic fallout of the COVID-19 pandemic. Barclays shares, however, fell as much as 5%...
Barclays resumes dividend as annual profit halves
Barclays resumes dividend as annual profit halves
Source: Reuters
18/02/2021 3:42:29 PM