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Fitch cuts outlook on Kuwait s debt rating to negative on state treasury liquidity risk

Fitch cuts outlook on Kuwait s debt rating to negative on state treasury liquidity risk SECTIONS Last Updated: Feb 03, 2021, 10:27 AM IST Share Synopsis The rating agency said the outlook change reflects near-term liquidity risk associated with the imminent depletion of liquid assets in the General Reserve Fund (GRF) in the absence of parliamentary authorisation for the government to borrow. Getty Images 2,701,445.0 Rating agency Fitch said on Wednesday it downgraded the outlook on Kuwait s sovereign debt rating to negative from stable , saying it saw near-term liquidity risks associated with the state treasury fund. Fitch affirmed Kuwait s long-term rating at AA . The rating agency said the outlook change reflects near-term liquidity risk associated with the imminent depletion of liquid assets in the General Reserve Fund (GRF) in the absence of parliamentary authorisation for the government to borrow.

Kuwait fund claims immunity against legal challenge from former staff

3 Min Read LONDON (Reuters) - A lawyer representing the Kuwait Investment Authority’s London office has told an employment tribunal that the fund should be covered by diplomatic immunity in a legal wrangle involving former staff who accuse it of victimisation. Former fixed income head Simon Hard and another former staff member are pursuing an employment tribunal case against the Kuwait Investment Office (KIO), part of one of the world’s largest sovereign wealth funds, for alleged victimisation, discrimination and so-called whistleblowing detriment. The former employees are themselves being sued by the fund over an alleged conspiracy to award unlawful pay rises, which they deny, but the High Court in July granted them a stay of application in that case in order to allow them to go ahead with their employment tribunal.

IFM offers €5bn for 23% stake in Madrid-listed Naturgy Energy

2021-01-26T11:42:00+00:00 IFM Investors has made an offer to buy a 22.69% stake in Madrid-listed Naturgy Energy for €5.06bn. IFM, on behalf of the IFM Global Infrastructure Fund, is offering to buy 220m shares in the global gas and electric utility at €23 each, representing a 19.7% premium to Naturgy’s last trading price. Naturgy’s diversified infrastructure portfolio spans over more than 20 countries. Naturgy has the largest gas distribution and third-largest electricity distribution networks in Spain. It is also a major investor in renewables, with an existing portfolio of 4.6GW of capacity, including wind, solar and hydro-electric. Early this month, Naturgy acquired Hamel Renewable, a US solar and energy storage development platform. The deal followed its announcement in November last year that it had signed a long-term sale contract to build a wind farm in Victoria, Australia, through Global Power Generation, a 75-25 joint venture with Kuwait Investment Authorit

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IRFC IPO Subscription Status Today Latest Update; Indian Railway Finance Corporation Gets Excellent Response | IRFC के IPO को मिला शानदार रिस्पांस, आखिरी दिन 3 42 गुना भरा
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