1) Rajan's Final Fight: Resisting 'Opaque' Plan to Fund India Banks
(Bloomberg) -- Just days after Raghuram Rajan announced plans to a return to academia, he's battling to preserve the Reserve Bank of India's independence. The government this month revived a proposal to dip into the central bank's emergency funds to recapitalize commercial lenders hurt by rising bad loans. The idea was first floated in February by the Finance Ministry's top economic adviser, Arvind Subramanian, a candidate to succeed Rajan as ...
2) Doves Ascendant in India on Brexit After Hounding Rajan on Rates
(Bloomberg) -- The debate over India's room to cut interest rates, which saw the central bank governor pilloried by populist politicians, is swinging in favor of the doves after Britain's vote to exit the European Union. Nomura Holdings Inc., which wasn't expecting any easing from the Reserve Bank of India, now forecasts a 25-basis point reduction by end-2016. Credit Agricole CIB is reviewing its call for just one cut in the second quarter of 2017. The cost to lock in ...
3) For India's Money Managers, Recovering Economy Outweighs Brexit
(Bloomberg) -- Indian money managers clung to equities during the worst selloff in four months, speculating the elements that powered this year's stocks rally are strong enough to withstand global turmoil from the Brexit vote. Local funds bought a net 1.15 billion rupees ($17 million) of shares on Friday, data compiled by Bloomberg show, even as the benchmark index slumped 2.2 percent. The purchases capped the first weekly inflow in June, and fund managers said they ...
4) India's RBI Sees Sharp Increase in Bank Risk as Bad Loans Surge
(Bloomberg) -- Risks to India's banking sector have "sharply increased" since Sept. as profitability declines and asset quality continues to deteriorate, Reserve Bank of India says in financial stability report. * Return on assets in India's banking system fell to 0.4%, while return on equity dropped to 4.8%, report shows * Gross bad-loan ratios at banks surged to 7.6% as of March 31 vs 5.1% on Sept. 30; stressed-asset ratio as a part of total loans widened ...
5) Billionaire Singh to Make DLF Debt Free, Infuse 100b Rupees: ET
(Bloomberg) -- Story Link
6) Adani Sets Up Financial-Services Company, Seeks Acquisition: ET
(Bloomberg) -- Story Link
7) India Central Bank Sees Sharp Rise in Banking Risk on Bad Loans
(Bloomberg) -- Risks to India's banking industry have "sharply increased" since September as surging bad loans drag lenders' profitability to the lowest since at least 1999, according to the Reserve Bank of India. Banks' return on assets fell to 0.4 percent at the end of March from 0.8 percent a year earlier, according to the central bank's Financial Stability Report released Tuesday. The industry's gross bad-loan ratio jumped to a 13-year high of 7.6 percent, ...
8) INDIA DAYBOOK: Vedanta, T-Bills, Quess Corp IPO, Banking Risk
(Bloomberg) -- Today: RBI to hold t-bills auction; Quess Corp IPO opens; Vedanta, UPL, Corporation Bank among cos to hold shareholders' meetings. WHAT TO WATCH: * RBI sees sharp increase in banking risk as bad loans surge * Profitability at lenders falls to lowest level since 1999 * India names N.S. Vishwanathan as RBI deputy governor * India's coal import in April-May falls 5% y/y to 35.85m tons * RBI says 3-panel members ...
9) Asian Stocks Rise With Oil as Pound Reverts to Losses; Yen Gains
(Bloomberg) -- The relief rally endured, with Asian stocks and oil rising amid speculation policy makers will blunt the impact of the U.K.'s decision to leave the European Union with stimulus measures. Haven assets including gold and the yen advanced as the pound weakened. The MSCI Asia Pacific Index gained the most in a week and has now recovered about 40 percent of the losses recorded since Britain's vote on EU membership. U.S. and U.K. stock index futures rallied as ...
10) Turkey's Prime Minister Links Islamic State to Airport Attack
(Bloomberg) -- Turkish Prime Minister Binali Yildirim said early investigations indicated Islamic State was behind a suicide attack at Istanbul's main international airport that killed at least 36 people. "According to analyses by our security forces, first indications point at Daesh as perpetrators," Yildirim told reporters at Ataturk Airport, using the Arabic abbreviation for Islamic State. "What is noteworthy is that this attack came at a time ...
You received this message because you are subscribed to the Google Groups "LONGTERMINVESTORSRESEARCH" group.
To unsubscribe from this group and stop receiving emails from it, send an email to longterminvestorsresearch+unsubscribe@googlegroups.com.
Visit this group at https://groups.google.com/group/longterminvestorsresearch.
For more options, visit https://groups.google.com/d/optout.
No comments:
Post a Comment