financial sector

EU to discuss capping banks’ sovereign debt exposure -document

European Union finance ministers will discuss putting a cap on banks' exposure to sovereign debt when they meet next week, an EU document said, confirming what officials told Reuters earlier this week.

Source:  Reuters, 2016/04/15

By |April 19th, 2016|Categories: News|Tags: , , , |

Bankruptcy filings more than double in Brazil as recession deepens

Bankruptcy protection requests in Brazil more than doubled in the first quarter from the year-earlier period, as businesses suffered from the highest borrowing costs in a decade and a steep recession dragged down revenue, credit research company Serasa Experian said on Wednesday.

Source:  Reuters, 2016/04/05

By |April 12th, 2016|Categories: News|Tags: , , |

Eurozone debt will barely fall by end of decade – Moody’s

Debt is due to stabilise or decline in most Eurozone countries, but only gradually, Moody's has said. The ratings agency expects debt/GDP ratios to fall in 11 of the 19 countries in the bloc this year, with Cyprus, Ireland and Slovenia to see the most pronounced falls. "While a growing number of countries have [...]

By |March 22nd, 2016|Categories: News|Tags: , , , |

Italy Recovery From Slump Seen Continuing Slowly but Surely

Italy’s economy will keep recovering from recession slowly but surely and avoid a renewed slump this year and next, a Bloomberg survey of analysts showed.

Source:  Bloomberg, 2016/03/15

By |March 22nd, 2016|Categories: News|Tags: , , , , |

IMF upbeat about India’s economic outlook but warns on public debt

India is on the road to recovery, but the world’s fastest growing economy could still do more to bolster resilience and growth potential, according to the International Monetary Fund. The fund credited trade gains arising from low commodity prices, sound policy, and reduced external risks for the strong outlook, which puts India’s growth at [...]

By |March 8th, 2016|Categories: News|Tags: , , |

Corrected – Moody’s cuts China outlook on eve of NPC, cites reform, fiscal risks

Moody's downgraded its outlook on Chinese government debt to "negative" from "stable" on Wednesday, citing uncertainty over authorities' capacity to implement economic reforms, rising government debt and falling reserves. The Moody's downgrade comes just days before the National People's Congress (NPC) is due to vote on China's 13th five year plan, a closely held [...]

By |March 8th, 2016|Categories: News|Tags: , , , |

Fitch: Irish Election Raises Uncertainty, Could Increase Risks

Ireland's inconclusive general election does not alter Fitch Ratings' expectation that the next government will pursue further deficit reduction. But protracted political uncertainty, an unstable government, or reliance on more radical political elements could be negative if they reduced the authorities' ability to respond to downside fiscal or economic risks

Source:  Reuters, 2016/02/29

By |March 8th, 2016|Categories: News|Tags: , , , , |

Argentina Debt Deal Poised to Deliver Big Payday to Holdouts

Argentina has reached a preliminary agreement to end one of the longest and most contentious battles over government debt in history, potentially handing a big payday to hedge funds that held out for a decade and a half.

Source:  WSJ, 2016/02/29

By |March 8th, 2016|Categories: News|Tags: , , , , |

Moody’s downgrades Oman’s long-term issuer rating to A3, on review for further downgrade

Moody's Investors Service, ("Moody's") has today downgraded Oman's government long-term issuer rating to A3 from A1 and placed it on review for further downgrade. The key driver for the rating downgrade is the highly negative impact of the structural shift in lower oil prices, which has continued through the opening months of 2016, on Oman's [...]

By |March 1st, 2016|Categories: News|Tags: , , , |

Brazil Credit Ratings Cut to Junk by Moody’s

Brazil’s sovereign rating was cut to junk by Moody’s Investors Service, the last of the major ratings companies to strip the country of its investment grade, as President Dilma Rousseff struggles to shore up fiscal accounts amid deepening political turmoil. The country’s benchmark stock gauge declined after the rating was reduced two steps to Ba2, [...]

By |March 1st, 2016|Categories: News|Tags: , , |