Potential for disinvestment: BT magazine s The Point decodes how the government could garner Rs 3.2 lakh crore as disinvestment receipts (excluding LIC) if it decides to cut down its stakes in all public sector enterprises, public sector banks and other financial institutions to 51 per cent. Find out more in this Business Today Visual Story.
One of India’s biggest debt fund managers is taking a contrarian bet on short-duration bonds, arguing that the central bank won’t roll back its rate hikes anytime soon.
According to V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, the sustained selling by Foreign Portfolio Investors (FPIs) appears to be over, since they have turned buyers in the last few days.
By Asif Shahzad and Ariba Shahid ISLAMABAD (Reuters) -Pakistani Finance Minister Ishaq Dar said on Friday China had rolled over a $2 billion loan that matured last week, providing relief during the South Asian nation s acute balance of payment crisis. Locking in a rollover had been critical for Pakistan, where reserves have dipped to just four weeks worth of imports and talks over an International Monetary Fund bailout tranche of $1.1 billion have hit a stalemate. I am happy to confirm that this had been rolled over on March 23, Dar told parliament, referring to the maturity date. He said all concerned documentation had been completed. Neither the government in Beijing nor the Chinese central bank responded to requests for comment on the rollover. Dar s comments were the first official announcement of the rollover after the loan matured. Dar did not give the new maturity date or other terms of the arrangement. A top finance ministry official told Reuters on Wednesday that a formal con
By David Lawder and Kanishka Singh WASHINGTON (Reuters) - The United States is working hard to counter China s influence in international institutions and in lending to developing countries, U.S. Treasury Secretary Janet Yellen said on Wednesday. Yellen said she was concerned by some of China s activities globally, particularly in lending to developing countries. I am very very concerned about some of the activities that China engages in globally, engaging in countries in ways that leave them trapped in debt and don t promote economic development, she said in a hearing before the State, Foreign Operations, and Related Programs subcommittee of the House Appropriations Committee. China spent $240 billion bailing out 22 developing countries between 2008 and 2021, with the amount soaring in recent years as more have struggled to repay loans spent building Belt and Road infrastructure, a recently published study showed. Almost 80% of the lending was made between 2016 and 2021, mainly to mid