Sovereign

Struggling Maldives sovereign bond rallies as country vows to avoid default

Concerns that cash-strapped Maldives could become 1st country to default on Islamic sovereign debt had pushed bond - its only listed international fixed-income instrument - to a record low last month

Sustained fiscal deficit reduction positive for India's ratings: Fitch

Fitch Ratings said in a press statement that this dividend would help India in meeting the fiscal deficit target of 5.1 per cent of GDP for FY25

Climate spending may make emerging nations with high debt insolvent: Report

A further 19 developing countries lack the liquidity to meet the spending targets without help, though they would not approach default thresholds

India pitches for a rating upgrade with Moody's, questions methodology

A higher rating for India would mean the nation is less riskier, translating into lower interest rates on borrowings

UAPA's objective is to deal with activities against India's integrity: SC

The Supreme Court on Friday said the main objective of the Unlawful Activities (Prevention) Act is to make powers available for dealing with activities directed against the integrity and sovereignty of India. A bench of Justice M R Shah, Justice C T Ravikumar and Justice Sanjay Karol said pursuant to the recommendation of the Committee on National Integration and Regionalisation, appointed by the National Integration Council Act on whose recommendation the Constitution (Sixteenth Amendment) Act, 1963 was enacted, the Unlawful Activities (Prevention) Act (UAPA) came into force. "It appears that the National Integration Council appointed a committee on National Integration and Regionalisation to look into, inter alia, the aspect of putting reasonable restrictions in the interests of sovereignty and integrity of India and thereafter the UAPA has been enacted. Therefore, the UAPA has been enacted to make powers available for dealing with the activities directed against integrity and ...

Global sovereign debt roundtable to be launched in Bengaluru on Feb 25

The Global Sovereign Debt Roundtable is all set to be launched in Bengaluru later this month on the sidelines of the G-20 finance track, will bring in key stakeholders to discuss issues that have been impeding a timely debt restructuring process, a top official of the International Monetary Fund said here. The Global Sovereign Debt Roundtable on February 25 will be co-chaired by the IMF, the World Bank and India, which is president of G-20 countries this year. This will be preceded by a virtual meeting on February 17. "It is basically to discuss issues that have been impeding reaching a timely debt restructuring process, and the lessons from the cases that we had in the recent past and come up with technical solutions to address these shortcomings," Ceyla Pazarbasioglu, Director of the Strategy and Policy Review department at the IMF, told a group of reporters here on Tuesday. According to her, it is mainly about processes, about standards, about definitions of key issues, that wil

More than 10 US high-altitude balloons flew in our airspace: China

China on Monday said more than 10 US high-altitude balloons have flown in its airspace during the past year without its permission, following Washington's accusation that Beijing operates a fleet of surveillance balloons around the world. The Chinese allegation comes after the US shot down a suspected Chinese spy balloon that had crossed from Alaska to South Carolina, sparking a new crisis in bilateral relations that have spiralled to their lowest level in decades. Foreign Ministry spokesperson Wang Wenbin gave no details about the alleged US balloons, how they had been dealt with or whether they had government or military links. It is also common for US balloons to illegally enter the airspace of other countries," Wang said at a daily briefing. Since last year, US high-altitude balloons have illegally flown over China's airspace more than 10 times without the approval of Chinese authorities." Wang said the US should first reflect on itself and change course, rather than smear and

ADB approves $780 mn loan to expand Chennai's metro rail network

In 2021, ADB committed a record $4.6 billion in sovereign loans to India.

Climate debt-trap risks pushing vulnerable emerging markets to brink

Rising global borrowing costs are denting the finances of some of the most climate-vulnerable countries right when they most need money to fight the devastating impacts of global warming

RBI targets selling first batch of green bonds as early as December

Reserve Bank of India, the nation's debt manager, is preparing to sell its first ever batch of sovereign green bonds as early as next month, according to people with knowledge of the matter

Three-five-year gilts are attractive in current times, say experts

For tax-efficient exposure, go for target maturity funds maturing in 2026-2028

Risk to India's sovereign rating from external pressures limited: Fitch

Country relatively insulated from volatility due to limited reliance on external financing, says rating agency

An Adani Group company likely to be rated higher than sovereign: Report

An Adani Group firm is likely to be soon rated above India's sovereign rating as the ports-to-energy conglomerate helmed by Gautam Adani, Asia's richest man, sees rapid growth in business and lower debt. Adani Group CFO Jugeshinder (Robbie) Singh told a select group of investors on October 10 in New Delhi that an announcement will soon be made of one of the group firms becoming the first Indian firm with all its business in the country, to be rated higher than the sovereign, according to two persons present at the meeting. Singh, however, did not name the company. Global credit rating agencies such as S&P and Fitch have assigned the lowest investment grade rating of 'BBB-' to India. Most companies including public sector giants are rated at par or below the sovereign rating. In June last year, Fitch Ratings upgraded rival billionaire Mukesh Ambani's Reliance Industries Ltd to a notch above India's sovereign rating citing an improving debt profile. But Reliance, some may argue, ha

Fitch affirms Bank of Baroda, subsidiary at 'BBB-' with stable outlook

Action factors in a high likelihood of sovereign support to the public sector lender; rating agency says profitability to rise further; high loan growth to resume

Centre cuts FY23 borrowing target by Rs 10k cr amid robust tax collections

The government will borrow Rs 5.92 trillion, or 41.6 per cent of the new FY23 target, in October-March, including from the issuance of its maiden sovereign green bonds of Rs 16,000 crore

Global sovereign debt to rise almost 10% to new high in 2022: Report

Governments across the world have ramped up borrowing since the Covid-19 pandemic erupted two years ago, as they tried to shield their economies from the fallout.

Best of BS Opinion: Prospects of Indian companies, economic policy and more

Here is the best of Business Standard's opinion pieces for Thursday

Bureaucracy doesn't distinguish between sovereign and absolute power

Even after scrapping the 'retrospective tax' the bigger problem of the bureaucratic interpretation of sovereign power remains unresolved. The time has come for Parliament to sort out the confusion

Discard 'colonial notion' of sovereignty in handing out doles at will: SC

The state must discard the colonial notion that it is a sovereign handing out doles at its will and is bound to act fairly and in a transparent manner, the Supreme Court Tuesday said

Govt reviews interest rates on sovereign gold bonds

Next tranche could be sold through exchanges