Region Hongkong Financial News

03.04 / 01:43

markets COST WhatsApp tenor inclusion International Piramal Finance raises over Rs 2,300 crore via ECB route

Piramal Finance raised more than ₹2,300 crore ($265 million) through an external commercial borrowing (ECB) facility. The loan was led by Standard Chartered Bank, The Hongkong and Shanghai Banking Corporation (HSBC), Sumitomo Mitsui Banking Corporation, and First Abu Dhabi Bank. The floating-rate loan is priced just under 9%, around 15-20 bps lower than the prevailing domestic market rate. «The facility has a 3-year tenor and is fully hedged to mitigate forex and interest rate risks,» said a banker. «Landed cost of funds is more competitive compared to domestic borrowing rates, making it an attractive financing option for Piramal Finance.» Loan has a greenshoe option, allowing it to be upsized to $300 million.

13.12 / 19:43

markets Airlines Strategy Software Food performer chess As befits a high-flying India: It is natural for Indians to expect that Air India will become world class again—as soon as possible!

Air India aircraft, evocatively named the Emperor Ashoka, way back in 1972. Needless to add it left a deep impression on my six-year-old mind, not only because of the dimension of a Boeing 747 ('Jumbo') but the regal ambience, the glamorous, poised cabin crew, and even the food.

19.11 / 03:53

HANS Trade 2020 reports Courts A Singapore oil magnate faces prison in a major fraud case over financing trade

A Singapore oil magnate has been sentenced to 17.5 years in prison for fraud and forgery in a case that prosecutors said has tarnished the city-state’s reputation as Asia’s leading oil trading hub

21.01 / 07:27

markets FIVE Strategy Sustainability trends Commentary Weekly FPIs unleash turbulence with Rs 21,000 cr weekly selloff in sudden shift

In the week gone by, FPIs net sold shares worth over Rs 21,000 crore, signalling a sudden shift in the strategy. So far in the month of January, FPIs were net sellers at Rs 16,455 crore. Domestic institutional investors, meanwhile, are holding for as they invested about Rs 10,274 crore in Indian equities so far this month. Analysts say the rise in US bond yields and elevated valuations are triggering capital outflows from emerging markets. The not-so-pleasing results of India's leading HDFC Bank also aggravated the outflows as they increased short positions.

20.01 / 15:05

markets security Strategy trends Experts information reports FPIs snap buying streak to turn net sellers, offload ₹13,047 crore in Indian equities: What led to trend reversal?

₹13,047 crore worth of Indian equities and the total inflow stands at ₹134 crore as of January 19, taking into account debt, hybrid, debt-VRR, and equities, according to National Securities Depository Ltd (NSDL) data. FPIs were big players in financial services and information technology (IT), according to analysts. "There is a sudden change in the strategy of the FPIs starting 17th January.

11.07 / 08:35

UPS IPO AXY Citibank NSDL IPO: IDBI Bank, NSE, HDFC Bank, SBI, among major shareholders in the depository; take a look

offer for sale (OFS) of up to 57,260,001 shares. The National Stock Exchange of India Ltd, IDBI Bank, State Bank of India, HDFC Bank, Union Bank of India and the Administrator of the Specified Undertaking of the Unit Trust of India have announced to participate in the OFS. State Bank of India (SBI) and private lender HDFC Bank had earlier said that they propose to sell 2% stake each in NSDL by offloading 40 lakh shares each in the OFS.

01.03 / 18:41