MOODYS CITI
Not politics, not interest rates: India's surging economy at risk from water
India is facing a growing water crisis, with the country's growing water stress potentially impacting its growth. The country's growing water stress could affect agricultural production and industrial operations, leading to food inflation and declines in income for affected businesses and workers, especially farmers. Contaminated water kills about 200,000 Indians each year, and the government is focusing on conserving the resource, recycling waste water, and reducing the country's over-reliance on the annual monsoon, especially in the agricultural sector.
Justin Timberlake’s ‘Forget Tomorrow’ World Tour: Dates, Venues, Tickets; all you need to know
While entertaining his fans on Saturday night, Justin Timberlake presented each new song with care as he performed on “Infinity Sex”, “LoveStoned,” “Like I Love You” and “No Angels”.
Israel's long-term credit rating is downgraded by S&P, 2nd major US agency to do so, citing conflict
Israel's credit rating downgraded by S&P due to Iran conflict. Drone attack near Isfahan. Moody's also downgraded over Hamas. Hezbollah confrontation ongoing. Gaza Strip tensions remain high. S&P's negative outlook, May 10 review pending."}
Give up Moody & Poor standards: Nilesh Shah
India's engagement with global rating agencies has not yielded desired results for its sovereign credit rating. However, the country has successfully engaged with agencies managing global bond and equity indices, resulting in increased weight in the indices. India aims to further enhance its position by upgrading South Korea's status and ensuring full inclusion of HDFC Bank in the index.
Moody's downgrades Israel's credit rating on war risks; outlook negative
The country's rating was cut to "A2," which is five notches above investment grade, while its credit outlook was kept at negative by Moody's, meaning a further downgrade is possible.
HDFC Bank plans to float $750-m bond issue from GIFT City
The private lender will issue the dollar bonds out of its branch in Gujarat International Finance Tec-City (GIFT city). The bank has proposed to raise three-year bonds tagged as sustainability bonds and a five-year bond tagged as conventional bonds.
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Moody's downgrades 17 Chinese govt financing vehicles to 'negative'
China's local governments, which between them are estimated to have over $9 trillion worth of debt, have seen their finances hit in recent years as the country's property market crash has slashed the amount of money they make from selling land.
Moody's downgrades eight Chinese banks, Hong Kong
The rating action for financial institutions including Industrial and Commercial Bank of China and the China Development Bank was primarily driven by the change in outlook to negative from stable on the government's credit ratings, according to a statement from Moody's on Wednesday.
Citigroup starts layoff talks after management overhaul: Sources
Citigroup is expected to lay off support staff in compliance and risk management, as well as technology staff with overlapping functions, as part of its reorganization efforts. Managers have already started discussions with employees and one-on-one meetings about departures have begun. The bank aims to strip out a layer of management and cut jobs to boost profits and the stock price.
Country Garden: China's under-pressure property giant
China's leading property developer Country Garden is facing a potential bankruptcy. After missing bond payments and warning of multibillion-dollar losses, concerns are growing that Country Garden could follow in the footsteps of its competitor, Evergrande. The share price has reportedly plummeted by over 16% in Hong Kong, and its billionaire CEO Yang Huiyan feels their company is facing difficulties.
Gold Rate Today: Gold prices rise as dollar retreats. Check price of yellow metal in Delhi, Ahmedabad, and other Indian cities
On the technical placement of the yellow metal, Neha Qureshi, Senior Technical & Derivative Analyst at Anand Rathi Commodities & Currencies said that gold on the 4-hour timeframe showed a descending triangle pattern and if it breaks below Rs 59,266, it could further drop to Rs 58,850.
Doja Cat’s The Scarlet Tour with Ice Spice and Doechii: City-wise schedule for North America
Singer Doja Cat has announced her North American tour called The Scarlet Tour along with singers rappers Ice Spice and Doechii. Here’s all you need to know about the schedule.
MSME loans against property at higher default risk: Moody's
"Delinquencies will increase, but structural protections will curb deals' exposure to losses. We expect loan delinquency rates for LAP ABS, which have increased over the past year, to continue to rise. However, LAP ABS are well protected, because of the deals' structural protections, including non-amortising cash reserves and excess spread," Moody's said.
Govt incentives to drive EV penetration in India, charging infrastructure key: Moody's
The pace of increase in EV sales and towards the government's target of 30 per cent by 2030 will also depend on the country's charging infrastructure, and consumers' readiness to switch to EVs from traditional ICE vehicles, or those traditional engines powered by petrol, diesel, or natural gas.
Lionel Richie announces 2023 tour with Earth, Wind, & Fire; Here’s all you need to know
A renowned American singer and songwriter Lionel Richie took it to his Twitter handle and announced one of the biggest collaborations of 2023 with Rhythm and blues (R&B) group Earth, Wind, and Fire for a tour in 2023. The tour will begin on 4 August 2023 and will last till 15 September 2023.
Madonna announces dates of 'The Celebration Tour' to commemorate four decades of hits
Madonna has come up with a global tour to celebrate her 40th anniversary in the music industry.
In hangover of World Cup fiesta, Argentina's economic reality bites
But despite the glow of victory from a dramatic and topsy-turvy final against France, reality is biting with inflation heading towards 100%, tight capital controls, near 40% poverty and fears of more debt defaults on the horizon. "The World Cup is an immense joy that revives us after suffering economic crisis for so long," Victorica said. "But soon we will have to fall back into reality and face the situations that weigh us down every day."
Moody's closing its consulting business in China, laying off staff
First announced internally on Monday, the move has affected more than 100 employees across Moody's Beijing, Shanghai and Shenzhen offices, one of the sources said, reported The News International. The total headcount for the business unit could not immediately be ascertained. Moody's credit rating business will continue to operate in the world's second-largest economy, the source added.
Carrie Underwood to be first performer at 2023 CMT music awards
CBS and CMT announced that the 2023 CMT Music Awards will air on April 2, 2023 (8:00-11:00 PM, ET/PT) live from Moody Centre, Austin, Texas, for the first time.
Don’t focus on the glass half empty; India has the highest growth rate among top economies over 3 years: KV Subramanian
“India is by far the highest at 3.83% growth over a three-year horizon. The United States has had a growth of 3.78%, marginally lower than that of India but it has unprecedented inflation. In descending order of growth rates, this is how the top 10 economies fare – Canada at 2.6% over a three- year horizon, UK 1.06%, France 0.7%, Italy 0.2%, Germany 0.1%, and Japan minus 1.3%.”
Petrol above Rs 100 in major cities; diesel crosses Rs 100 in MP, AP, Rajasthan
Petrol in Delhi will now cost Rs 103.41 per litre as against Rs 102.61 previously while diesel rates have gone up from Rs 93.87 per litre to Rs 94.67, according to a price notification of state fuel retailers.
Petrol, diesel prices see ninth hike in 10 days. Check what fuel costs in your city
The retailers are raising prices to bridge under-recoveries that are estimated to have risen to Rs 20-22 when global benchmark oil, Brent, hit $139 per barrel on March 7.
Russian forces launch missile strikes on Ukrainian cities; President Zelenskiy defiant
Ukrainian authorities have urged citizens to help defend Kyiv from advancing Russian forces who invaded on Thursday in the worst European security crisis in decades. But even as the fighting grew more intense, the Russian and Ukrainian governments signalled an openness to negotiations, offering the first glimmer of hope for diplomacy since Russian President Vladimir Putin launched the invasion.
HDFC Bank’s AT1 bonds get Moody’s Ba3 rating
The bank will be the first private sector lender to offer those quasi-equity securities offshore if it finally launches the overseas sale that is expected to open for subscription in the next 7 days.
Adani Co plans to raise $300 m via sustainable bonds
These bonds are expected to offer rates in the range of 3.25-3.7percent with 10-year maturity. The bonds are marked as ‘sustainable’, and qualify for the global ESG (Environment Social Governance) cash pool, sources said.
Moody's cuts India's growth forecast to 9.3 pc, risks of longer-term economic recovery scarring
India is experiencing a severe second wave of coronavirus infections which will slow the near-term economic recovery and could weigh on longer-term growth dynamics, it said. "As of now, we expect the negative impact on economic output to be limited to the April-June quarter, followed by a strong rebound in the second half of the year.
Hero Future Energies, DIAL raise $810 m in ESG bonds
Environment Social Governance (ESG) dovetails neatly into the triple bottom-line goals that both corporations and investors are seeking to achieve, especially in the aftermath of the pandemic.
IFC picks up $56 million of Continuum Energy's $561 million-green bonds
The bond, which had an order book of $3.2 billion, was rated BB+ by Fitch and Ba2 by Moody's, and was listed on the Singapore Exchange on February 10.
Asian Development Bank lists masala bonds worth Rs 300 cr on India INX
ADB's masala bonds, or rupee-denominated bonds, are now listed on both the Luxembourg Stock Exchange and the India International Exchange Limited (India INX).
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