DBS GROUP HOLDINGS LTD
Chinese ecommerce giants face delicate balance between discounts, profit
Alibaba's earnings reports are crucial indicators for China's consumer sentiment, influenced by competition from Pinduoduo and Douyin. The demand for discounts affects revenue and profit margins, posing challenges for selling premium products.
Food inflation on mind, RBI holds interest rates steady
India is probably a positive outlier in the world hobbled with economic challenges, offering Mint Road the opportunity to further consolidate its war on inflation that has been restrained over the past few quarters from leaping. However, risks to price stability have not entirely receded into the background, said RBI Governor Shaktikanta Das, after the first policy review meeting in the new fiscal year.
Reliance Power shares hit 5% upper circuit as Anil Ambani-led firm settles bank dues
The stock hit its 5% upper circuit while witnessing a 1.47 times spurt in the volumes on India's oldest exchange.
Mizuho courting India elite shows Japan banks’ global ambition
Mizuho Financial Group Inc. showcased its business ties in India at Mumbai’s St Regis hotel. Mizuho announced its largest-ever acquisition in India. Adani Group, Hindenburg Research, and Japanese lenders have also played a significant role in Indian offshore loans. HSBC Holdings Plc. topped the league tables last year.
DBS cuts CEO Gupta's pay by 30 per cent due to digital disruptions suffered by customers in 2023
DBS, Singapore's leading corporate group, has reduced CEO Piyush Gupta's variable pay by 30% due to digital disruptions experienced by the bank's customers. The CEO and other members of the management committee took a 21% reduction in their variable pay. DBS suffered disruptions to its digital banking services, leading to regulatory actions.
Lenders of Sterling and Wilson Renewable Energy agree to recast Rs 1774 crore debt after it missed payments in Q2
Sterling and Wilson Renewable Energy (SWREL) has agreed to restructure its debt after missing scheduled payments in September. The company, which has a 40% equity stake in Reliance Industries Ltd, is also working on a shareholder-approved plan to raise RS 1500 crore from the sale of equity shares. Union Bank of India led banks signed an inter creditors agreement (ICA) to give the company a longer time to repay loans.
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Birla carbon to raise $1.5 billion offshore loan
Proceeds from the sale will be used mainly to refinance existing debt, with a smaller portion set aside to fund expansion, said the people, who declined to be identified because the discussions are private. Lenders include Axis Bank, DBS Group Holdings, First Abu Dhabi Bank, ICICI Bank, HSBC Holdings, Standard Chartered Bank and Union Bank of India.
Rupee volatility holds at multi-year lows despite worldwide jitters
Based on multiple gauges, the rupee's volatility is at multi-year lows. Using spot returns as the benchmark, the unit has outperformed nine Asian currencies, some of which have shed as much as 8% versus the US dollar so far in 2023, Bloomberg data showed.
RBI delivers a Kapil Dev policy: Economists decode what's beyond the steadfast stance
The Reserve Bank of India (RBI) has decided to maintain the repo rate at 6.5% for the fourth consecutive time. The Monetary Policy Committee (MPC) remains focused on aligning inflation to the 4% target. The RBI may consider open market sales of bonds to manage liquidity conditions. Despite inflation and resilient economic conditions, the MPC has kept its inflation and GDP forecasts unchanged.
Supreme Court quashes Religare Finvest's plea against DBS Bank India
The original petition, a civil suit at the Delhi High Court (HC) and an FIR with the Economic Offences Wing of the Delhi Police, were filed against Lakshmi Vilas Bank (LVB), which later merged with DBS India on a direction from the Reserve Bank of India (RBI). After the merger, RFL sought to implead DBS in the criminal complaints along with former LVB officials.
DBS chief says China pessimism not 'overdone' but upbeat about India prospects
DBS Group CEO Piyush Gupta is optimistic about India's economy and plans to triple the bank's business in the country over the next five years. He acknowledges the challenges in China, particularly in the debt-ridden property sector, but sees growth prospects in sectors like electric vehicles. DBS also intends to increase its stake in Shenzhen Rural Commercial Bank. Gupta highlights the positive performance of DBS's wealth management business, fueled by inflows from Asia, the Middle East, and Europe.
Economists unpack RBI MPC's policy decisions, echo inflation worries
The Reserve Bank of India's (RBI) rate setting panel has kept the repo rate and GDP growth forecast unchanged at 6.5%, according to RBI Governor Shaktikanta Das. The MPC decided to remain watchful and evaluate the situation, the governor added. The rate-setting panel unanimously opted to hold the key lending rate steady, which was in line with analysts' expectations.
Singapore's Temasek reports portfolio value drop, positive on China tech
The drop in net portfolio value is its first since the 2019 financial year and came amid intensified global market volatility.
Singapore’s star banker Piyush Gupta creates a succession dilemma for DBS
DBS Group Holdings Ltd., led by CEO Piyush Gupta for over 13 years, faces the challenge of finding a successor who can maintain the bank's success and emulate Gupta's leadership. The bank's recent online banking disruptions have raised concerns, but industry observers believe Gupta's legacy remains intact. There is no clear favourite to inherit Gupta's position.
Here’s what experts think about India’s slowing growth rate
Slower GDP growth can be attributed to aggressive rate hikes by the Reserve Bank of India in order to tame the high inflation levels in the country. In addition to these factors, the slowdown in exports and consumer demand has also contributed in bringing down the numbers. The dent in consumer demand can be linked with the bullish rate hikes by the RBI to bring down inflation in the past few months.
Adani Group to hold Asia fixed-income roadshow next week
Adani bonds were mixed Friday, with eight of 15 trading lower, though the moves were small by recent standards, according to data compiled by Bloomberg. The biggest decliner was an Adani Ports & Special Economic Zone Ltd. note, which fell 0.3 cents to 65.3 cents on the dollar as of 10:43 a.m. in Hong Kong.
Greenko uses bridge loan to refinance its overseas bonds
It paid investors in full their principal amount together with accrued and unpaid interest. The company refinanced the bond with a similar size bridge loan from half a dozen banks including Barclays and DBS Bank, three sources said.
Adani Group hires banks to hold fixed-income investor calls
Barclays Plc, BNP Paribas SA, DBS Bank Ltd, Deutsche Bank AG, Emirates NBD Capital, ING Groep N.V., MUFG, Mizuho, SMBC Nikko and Standard Chartered Bank are organizing the calls
Hot streak of foreign buyers for Indian bonds faces CPI hurdle
Global funds have poured a cumulative $465 million into Indian bonds over 13 straight days, the longest stretch since June 2017, on optimism that the US Federal Reserve and Reserve Bank of India may slow the pace of rate increases.
Fairfax Financial to double investment in India over 4-5 years
Business-friendly environment makes India one of the favourite destinations for foreign investment, Watsa said speaking virtually at India@75 session. The chairman of the Financial Holdings said his company has so far invested USD 7 billion in India and it plans to double that investment in 4-5 years.
DBS denies interest in IDBI Bank while staying bullish on India
Chief Executive Officer Piyush Gupta said the lender isn’t looking at a deal for the bank. His comments come after Indian media reported that DBS was considering purchasing a stake and held discussions with finance ministry officials in New Delhi.
Taiwan faces agri trade restrictions
China suspended some fish and fruit imports from Taiwan, citing excessive pesticide residue detected on products since last year and some frozen fish packages that tested positive for coronavirus in June.
DBS CEO Piyush Gupta ponders if bankers should ‘play God’ around ESG
DBS committed to exiting new coal-related financing a few years ago, which Gupta called one of his hardest decisions. As at end 2019, less than 1% of its total loans and advances were to growers and processors of palm oil, an industry often criticized for its impact on rainforests and for labor practices that rely on low-wage migrant workers.
HDFC Bank to be among global top 10 after merger
HDFC Bank has a market capitalisation of about $108 billion. It has recently edged past Citigroup (over $100. 5 billion), which was at number 17. HDFC Bank is worth more than UBS and DBS Group (both valued at around $58 billion). The country’s largest lender SBI ($57 billion) is at number 32 ahead of BNP Paribas ($55 billion) in terms of valuation.
Asian wealth managers seen wary of digital assets despite soaring demand
"Digital assets represent 7% of surveyed investors' portfolios - making it the fifth-largest asset class in Asia - more than they allocate to foreign currencies, commodities or collectables. Yet two-thirds of wealth management firms have no plans to offer digital assets," Accenture said.
Temasek hikes stake in ecommerce companies Amazon, Pinduoduo
Temasek, among the biggest investors in the world with major investments in Singapore Airlines, DBS Group and others, first disclosed a stake in Amazon in 2017 and in Pinduduo in 2020.
View: DBS will take from Citi to take on Grab
Grab’s record $40 billion merger with a blank-check company gives it balance-sheet muscle, which it is bound to flex against DBS.
RBI likely to hold rates amid inflation: Things to watch out for
A spike in consumer prices forced the panel to pause after cutting rates by 115 basis points this year, although it’s expected to conserve some ammunition to support growth by retaining an accommodative stance for the near future.
Write-off of Lakshmi Vilas Bank's debt to sting small lenders
The Reserve Bank of India on late Thursday said 3.18 billion rupees ($43 million) of Tier 2 bonds of Lakshmi Vilas Bank Ltd. will be fully written down as DBS Group Holdings Ltd. acquires the lender.
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