Page 8 - S&p Global Ratings

S&P Global Ratings cuts India's economic growth forecast to 7% for FY23

S&P Global Ratings on Monday cut India's economic growth forecast for current fiscal year to 7 per cent, but said the domestic demand-led economy will be less impacted by the global slowdown. S&P had in September projected the Indian economy to grow 7.3 per cent in 2022-23 and 6.5 per cent in next fiscal year (2023-24). "The global slowdown will have less impact on domestic demand-led economies such as India... India's output will expand 7 per cent in fiscal year 2022-2023 and 6 per cent in next fiscal year," S&P Global Ratings Asia-Pacific chief economist Louis Kuijs said. The Indian economy grew 8.5 per cent in 2021. In its quarterly economic update for Asia-Pacific, S&P said in some countries the domestic demand recovery from COVID has further to go and this should support growth next year in India. It projected inflation to average 6.8 per cent in current fiscal year and RBI's benchmark interest rate to rise to 6.25 per cent by March 2023. To control price rise, ...

Hindustan Zinc in top 3 sustainable companies in metal-mining sector

Hindustan Zinc Ranks Among the Top 3 Sustainable Companies Globally in Metal and Mining Sector

S-P upgrades Axis Bank's long term issuer rating from 'BB+' to 'BBB-'

The upgrade reflects Indian private lender's good asset quality and expectation that the bank will maintain it over the next one to two years

Rate hikes will help Indian banks post healthy profits in FY23: S&P

The rising interest rates will enable Indian banks to continue posting good profits during the remaining part of FY23, according to S&P Global Market Intelligence.

Start-ups look to shake up e-car space, refresh form and functions

As of now, Tata Motors Tiago EV priced between Rs 8.49 lakh and Rs 11.79 lakh is the most affordable e-car in India

Services PMI recovers to 55.1 in Oct after hitting six-month low in Sept

Services PMI released by credit rating agency S&P Global improved to 55.1 in October from 54.3 in September

S&P cuts Credit Suisse's rating to one level above junk bond status

S&P cut its rating one notch to BBB- and reduced its view on main operating unit Credit Suisse AG

Manufacturing PMI recovers to 55.3 in Oct amid contained price pressures

Manufacturing employment increases at 'marked rate' as factories report rise in orders, says survey

'It is unacceptable': Investors react to 40-minute Toronto Exchange Outage

A 40-minute outage across three stock exchanges stalled equity trading in Canada, leaving some investors frustrated and others refusing to place orders even after it reopened.

Continue SIPs for eight years to avoid loss in equities, say experts

Neither day of the month nor frequency of SIP has a material impact on returns

APAC reinsurers face single-digit growth, decline in investment income

The reinsurers in the Asia Pacific (APAC) region face single digit growth rate, declining investment income, higher claims and others, said S&P Global Ratings on Friday.

S&P Global withdraws rating of Adani Transmission at firm's request

S&P Global Ratings withdrew its rating for Adani Transmission Ltd., ending an assessment of barely investment grade at the company's request

China's services activity drops as Covid-19 lockdowns curb spending

The data is further evidence of the toll China's Covid Zero strategy is taking on consumer spending and the economy.

India's services activity cools to 6-month low in Sep; job creation slows

PMI for services sector released by S&P Global dipped to 54.3 in September from 57.2 in August as weak external demand weighed on overall sales, with international order declining during the month

Fitch Ratings cuts UK's credit outlook to negative on fiscal risk

The UK's credit outlook was lowered to negative from stable by Fitch Ratings, which cited risk the government's new growth plan could increase the nation's fiscal deficit

Manufacturing PMI dips to 3-month low of 55.1 in September on poor demand

India's factory growth dipped to a three-month low in September due to a moderation in demand and output, despite easing inflationary pressures and strong business confidence

Structural reforms keep economic recovery on course, says DEA secy

India today is focusing on infrastructure led capital spending aimed at enhancing productivity and employment while ensuring fiscal prudence with 'targeted' interventions: Ajay Seth

India a 'star' among EM economies with 7.3% growth in FY23, says S&P

S&P Global Ratings on Thursday said rising rates and increased European energy insecurity are hitting growth in almost every country, but India with an estimated 7.3 per cent growth this fiscal, would be the 'star' among emerging market economies. In a report, S&P said global macro performance over the next few quarters points towards growth slowdown with tightening financial conditions amid rate hikes by central banks. Most leading and sentiment indicators are pointing toward slower growth as well. Growth eased in the second quarter across emerging markets as inflation reduced real household income, business confidence deteriorated, and the external environment became more complicated, it said. Emerging-market central banks have been ahead of their advanced-country counterparts in hiking policy rates, and in Latin America they are now near the end of their tightening cycles. Elsewhere, core inflation continues to rise, suggesting there is more work to do. Large recent hikes ..

Top headlines: Rupee at new low; Unilever CEO to quit end of next year

From rupee touching a new low to Unilever CEO quitting by end of next year; here are the top headlines this evening

S&P Global's chief economist expects Fed's fund rate to rise to 4%

This could result in a further rise in bond yields in major economies including India