Bank Of Japan’s Unrealised Loss On Government Bonds Increases To $68 Bn

Unrealised losses have more than doubled in three months, from 874.9 billion yen at the end of September to 874.9 billion yen now, as government bond yields have risen on expectations that the BOJ will tighten monetary policy The Bank of Japan’s (BOJ) unrealised losses on government bond holdings totalled approximately 8.8 trillion yen (USD 68 billion) at the end of December last year, according to the central bank’s governor, Haruhiko Kuroda. Kuroda stated during a parliamentary session that the book value of the BOJ’s government bond holdings at the…

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‘Adani Group Has Reduced Share Of Indian Banks In Their Borrowings,’ Says Jefferies

After concerns about too much debt on the Adani Group and significant exposure on Indian Banks, global brokerage Jefferies said the that the exposure of the banks is within manageable limits.  The brokerage stated in a note that the group’s consolidated debt is at Rs 1.6 trillion, and Debt/Ebitda is down from 4.3x in FY16 to 3.2x in FY22. It added that the recent acquisition of the cement business might add around Rs 600 bn to debt but, at the same time, will also lift its cash flow. “We watch…

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Adani Group Calls Hindenburg’s Report As ‘Malicious’

Adani Group’s Chief Financial Officer Jugeshinder Singh on Wednesday said that the company was shocked by Hindenburg’s report and called it a “malicious combination of selective misinformation and stale, baseless and discredited allegations.” Hindenburg Research report said that Adani group companies have participated in a clear stock manipulation and accounting fraud scheme over decades. It also raised concerns over its debt and said five of seven key listed Adani companies have reported current ratios below 1. The short-seller said this suggested “a heightened short-term liquidity risk”. With the Hindenburg report…

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Centre Raises Rs 4,06,000 Cr Via Dated Securities In Q2FY23

Centre has raised Rs 4,06,000 crore through dated securities in Q2FY23, as against a notified amount of Rs 4,22,000 crore in the borrowing calendar, said the Ministry of Finance said on Tuesday.  The ministry in its quarterly report on public debt management for July-September 2022 stated that the repayments were at Rs 92,371.15 crore during the same period.  The weighted average yield of primary issuances hardened to 7.33 per cent in Q2 FY23 from 7.23 per cent in Q1 of FY23. The weighted average maturity of new issuances of dated…

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‘Adani Group’s Cash-flow Generation Is Underappreciated’

In an interview with news agency Bloomberg, Vikas Pershad, a Singapore-based fund manager at M&G, said that the businesses that Adani is incubating and operating in are actual businesses that generate cash M&G Investments (Singapore) Pte. has said that billionaire Gautam Adani’s group does not get enough appreciation for its cash-flow generation ability. In an interview with news agency Bloomberg, Vikas Pershad, a Singapore-based fund manager at M&G, said that the businesses that Adani is incubating and operating in are actual businesses that generate cash. He added that there are…

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Govt Plans To Raise Rs 16,000 Cr Through Green Bonds

Officials have said they will seek a significant “greenium”, the premium investors often have to pay for such bonds, to lower the nation’s borrowing costs for funding environmental projects In a bid to fund its renewable energy targets, India plans to issue sovereign green bonds worth Rs 16,000 crore in the fiscal year ending March 2023. The government will share the details for the planned green debt issuance later, according to a finance ministry press briefing on Thursday. Officials have said they will seek a significant “greenium”, the premium investors…

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India, G-20 Nations Will Address Debt, Economic Growth, Food, Energy Issues: EAM

India will work with other G-20 members to address serious issues of debt, economic growth, food and energy security and particularly of the environment, said External Affairs Minister, S. Jaishankar on Sunday.  While speaking at the general debate of the 77th session of the UN General Assembly, he said that India’s steadfast commitment to South-South cooperation is by now well established and well recognised.  “Our approach is based on principles of mutual respect and national ownership with a commitment to sustainable development for all,” Jaishankar added.  As we begin the…

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Gross Direct Tax Collection Grows 30% In 2022-23 To Rs 8.36 Lakh Cr

The ministry of finance on Sunday said that the gross direct tax collections grew 30 per cent to Rs 8.36 lakh crore by September 17 of the current fiscal year.  “The gross collection of direct taxes (before adjusting for refunds) for FY 2022-23 stands at Rs. 8,36,225 crore compared to Rs. 6,42,287 crore in FY 2021-22, registering a growth of 30 per cent over collections of FY 2021-22,” the ministry said.  The figures of direct tax collections for the FY 2022-23, as of 17 September showed that net collections are…

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Crisis-Hit Sri Lanka To Present Debt Restructure Plan To IMF By August

The country of 22 million people is unable to pay for essential import of food items, fertiliser, medicines and fuel because of a severe dollar crunch Crisis-hit Sri Lanka will present to the International Monetary Fund (IMF) by the end of August a plan to restructure its debt, Prime Minister Ranil Wickremesinghe told parliament on Tuesday. The country of 22 million people is unable to pay for essential import of food items, fertiliser, medicines and fuel because of a severe dollar crunch. Speaking after a recent visit by an IMF…

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Household Debt May Have Declined To 34% In Q1 FY22: SBI Report

The household debt as a percentage of gross domestic product (GDP) may have declined to 34 per cent in the first quarter of 2021-22, according to an estimate by the State Bank of India’s research report Ecowrap.  The COVID-19 pandemic has resulted in a spike in household debt to the GDP rate. As per the report, it rose sharply to 37.3 per cent in 2020-21 from 32.5 per cent in 2019-20. We estimate that household debt as a percentage of GDP has declined to 34 per cent in Q1 FY22…

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