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Last Updated: Tuesday 24th of January 2017 10:15:45 PM
  • 1 india   Most Indian firms underhedged, vulnerable to FX risk – India Ratings
    MUMBAI Most Indian companies with overseas debt have not hedged enough of their foreign currency risk, making them vulnerable to any sharp movements in the rupee, according to a study by credit ratings agency India Ratings.The study of 100 companies holding 19.5 trillion rupees ($286.30 billion) of debt abroad as of March 2016, showed 54 of them, with 14.5 trillion exposure, were vulnerable given only 35 percent of their balance sheets were hedged, India Ratings, a unit of Fitch, said on Tuesday.Of those 54 companies, 42 holding 8.9 trillion rupees in foreign currency debt could see their credit profiles weaken substantially should the rupee weaken by 10 percent, the rating agency said.The high cost of hedging and the rangebound movement in the rupee over the last three years is deterring companies, said Rakesh Valecha, head of credit and market research at India Ratings. It is important that corporates dont get complacent with rupee moving in a narrow band because if the rupee weakens sharply then corporates can see their margins hit, borrowing cost rise and even credit matrices moving down, Valecha said in a briefing with reporters.The rupee has been relatively rangebound since 2013, when it suffered its worst crisis in more than two decades, though it hit a record low of 68.865 to the dollar in November. The relative stability of the rupee and cheaper overseas rates have led to more Indian companies raising debt abroad, increasing concerns over whether they are prepared to deal with a sudden plunge in the currency or falls in global markets. The post Most Indian firms underhedged, vulnerable to FX risk – India Ratings appeared first on .
  • 2 world   Hong Kong to return Singapore’s seized troop carriers, easing tensions
    By Anshuman Daga | SINGAPORE SINGAPORE Hong Kong said on Tuesday it would release the nine Singaporean armoured vehicles it seized in November on their way home from military exercises in Taiwan, easing tensions between China and Singapore.After the troop carriers had been seized, Beijing, which regained sovereignty over the former British colony of Hong Kong in 1997, warned countries against maintaining military ties with Taiwan, which it views as a wayward province.Singapore Prime Minister Lee Hsien Loong wrote to Hong Kong Chief Executive Leung Chunying requesting the return of the carriers, and Hong Kong said it would handle the matter in accordance with its laws.The seizure came amid signs of tension between China and Singapore, which has deepened its security relationship with the United States over the last year and remains concerned over Chinas assertive territorial stance in the South China Sea.Since then, Beijing has been unsettled by U.S. President Donald Trumps statement, made in December before his inauguration, that the United States did not necessarily have to stick to its longstanding position that Taiwan is part of one China.Singapores foreign affairs ministry said Hong Kong authorities would release the Singapore Armed Forces (SAF) troop carriers and other equipment to the Singapore government, but it did not give details such as a time frame.This is a positive outcome, it said, adding that Lee had thanked Leung for Hong Kongs cooperation. STATE OF FLUX Analysts said the impounding of the troop carriers and Chinas subsequent comments on Taiwan showed Singapore had to adjust to the regions changing geopolitical climate.This whole incident is a reminder that things are in a state of flux, said Gillian Koh, deputy director for research at the Institute of Policy Studies in Singapore.We didnt know that we would be influenced or infected by this state of flux, but this is now brought home very acutely and explicitly. Singapore has a longestablished, if lowkey, military relationship with selfruled Taiwan, using the proudly democratic mountainous island for infantry training.Beijing has grudgingly tolerated this agreement since reestablishing diplomatic ties in the 1990s with Singapore, which recognises Beijings one China policy that says Taiwan is part of its territory.But China has repeatedly warned Singapore to stay out of the South China Sea dispute, where Chinas claims overlap with those of Brunei, Malaysia, the Philippines, Taiwan and Vietnam.Singapore has no claims in the South China Sea, but the open economy of Southeast Asias biggest port depends on free navigation in the area The post Hong Kong to return Singapore’s seized troop carriers, easing tensions appeared first on .
  • 3 world   East Mosul Iraqis crave stability as army defeats Islamic State
    By Michael Georgy | MOSUL MOSUL The teenage Islamic State militants who took over Mohamed Abdel Wahabs house and terrorised his family for three months are gone. But an Iraqi army victory in his east Mosul district hasnt made life easier, at least not yet.Like hundreds of other anxious Iraqis, he and his family walked for several kilometers past demolished buildings on Tuesday to return to homes that were taken over by Islamic State.These gunmen were between 12 and 15 years old. The post East Mosul Iraqis crave stability as army defeats Islamic State appeared first on .
  • 4 india   Political parties received Rs 7833 crore funding from unknown sources in 11 years: Report
  • 5 india   Crowds Will Come To See Dawood Too, Says BJP Leader Assailing SRK
  • 6 sports   Government mulling law to manage cricket: Attorney General to Supreme Court
  • 7 sports   Australia’s David Warner expresses gratitude over getting rest ahead of gruelling India tour
    Australias player of the year David Warner has welcomed a rest before touring India next month, saying its tough preparing for subcontinental conditions. The post Australia’s David Warner expresses gratitude over getting rest ahead of gruelling India tour appeared first on .
  • 8 News   Bharti Airtel’s profits plunge as India’s price war bites
    By Sankalp Phartiyal | MUMBAI MUMBAI Bharti Airtel, Indias largest telecoms network operator, reported its lowest profit in four years as competition from a new rival hit revenues that were also affected by a cash crunch, after the central government scrapped highvalue banknotes.A brutal price war has ensued in Indias mobile phone market since the entry late last year of Reliance Jio Infocomm, owned by the billionaire Mukesh Ambani, which has offered huge discounts to win customers.Rivals such as Bharti have been forced to respond with price cuts of their own, though at a steep cost. In November rival Vodafone booked in a $5 billion charge on the value of its Indian business due to the price war.Bhartis consolidated net profit fell to 5.04 billion Indian rupees ($73.99 million) in its third quarter ended Dec. 31, down from 11.08 billion rupees in the same period of 2015.This was the companys lowest profit since the December quarter of 2012 The post Bharti Airtel’s profits plunge as India’s price war bites appeared first on .
  • 9 world   U.N. racing to prepare aid for civilians ahead of battle for west Mosul
    By Maher Chmaytelli | BAGHDAD BAGHDAD The United Nations said on Tuesday it is racing against the clock to prepare emergency aid for hundreds of thousands of endangered civilians in Mosul with an Iraqi army offensive looming to oust Islamic State from the western half of the city.Iraqi Prime Minister Haider alAbadi confirmed on Tuesday that government forces had taken complete control of eastern Mosul, 100 days after the start of the U.S.backed campaign to retake Iraqs second largest city from Islamic State (IS) insurgents who seized it in 2014.U.N. officials estimate 750,000 people remain in Mosul west of the Tigris River that flows through the last remaining major urban centre held by Islamic State in Iraq, after a series of government counteroffensives in the countrys north and west. The west side could prove more complicated to take than the east as it is crisscrossed by streets too narrow for armoured vehicles, allowing militants to hide among civilians.The Sunni Muslim jihadists are expected to put up a fierce fight as they are cornered in a shrinking area of Mosul The post U.N. racing to prepare aid for civilians ahead of battle for west Mosul appeared first on .
  • 10 world   Parliament must vote before UK can trigger Brexit, top court rules
    By Michael Holden and Estelle Shirbon | LONDON LONDON Prime Minister Theresa May must give parliament a vote before she can formally start Britains exit from the European Union, the UK Supreme Court ruled on Tuesday, giving lawmakers who oppose her Brexit plans a shot at amending them.A straightforward bill will now be rushed to parliament within days, the government said after the countrys highest judicial body decided May could not use executive powers known as royal prerogative to invoke Article 50 of the EUs Lisbon Treaty and begin two years of divorce talks. The post Parliament must vote before UK can trigger Brexit, top court rules appeared first on .
  • 11 News   Gold retreats from late 2016 highs on dollar recovery
    By Zandi Shabalala | LONDON LONDON Gold slipped from a twomonth peak on Tuesday as investors took stock of U.S. President Donald Trumps first policy moves and a recovery in the dollar from recent lows.Trump formally withdrew from the TransPacific Partnership trade deal on Monday and told U.S The post Gold retreats from late 2016 highs on dollar recovery appeared first on .
  • 12 world   Pakistan tests second nuclearcapable missile this month
    By Saad Sayeed | ISLAMABAD ISLAMABAD Pakistan successfully tested a new nuclear capable surfacetosurface missile on Tuesday that is able to deliver multiple warheads and evade radar detection, the armys media wing said.It was Pakistans second missile test in a month.The Ababeel missile can reach targets at a range of 2,200 km (1367 miles), over three times the distance between Islamabad and New Delhi, capital of Pakistans rival, and was heralded in an army statement as a way of enforcing deterrence.The test follows the firing of Pakistans first submarinelaunched cruise missile on Jan. 10 The post Pakistan tests second nuclearcapable missile this month appeared first on .
  • 13 world   China says will protect South China Sea sovereignty
    By Ben Blanchard and David Brunnstrom | BEIJING/WASHINGTON BEIJING/WASHINGTON China said on Tuesday it had irrefutable sovereignty over disputed islands in the South China Sea after the White House vowed to defend international territories in the strategic waterway.White House spokesman Sean Spicer in his comments on Monday signaled a sharp departure from years of cautious U.S. handling of Chinas assertive pursuit of territorial claims in Asia.The U.S. is going to make sure that we protect our interests there, Spicer said when asked if Trump agreed with comments by his secretary of state nominee, Rex Tillerson The post China says will protect South China Sea sovereignty appeared first on .
  • 14 News   Trump urges U.S. automakers to make big push for new plants
    By David Shepardson and Roberta Rampton | WASHINGTON WASHINGTON U.S. President Donald Trump pushed the chief executives of General Motors Co, Ford Motor Co and Fiat Chrysler Automobiles NV on Tuesday to increase production in the United States and boost American employment.Trump opened a meeting with GM CEO Mary Barra, Ford CEO Mark Fields and Fiat Chrysler CEO Sergio Marchionne at the White House, saying he wants to see new auto plants built in the United States.We have a very big push on to have auto plants and other plants many other plants, he told reporters. Its happening.The new Republican president, who took office Friday, vowed to cut regulations and taxes to make it more attractive for businesses to operate in the United States The post Trump urges U.S. automakers to make big push for new plants appeared first on .
  • 15 politics   Nagaland: Tribal bodies call for indefinite bandh escalating tension in North east
    Civil society organisations in Nagaland view the newly implemented Municipal Act which provides 33% reservation of seats for women, as opposed to the customary laws of the Naga tribes. The post Nagaland: Tribal bodies call for indefinite bandh escalating tension in North east appeared first on .
  • 16 world   Iran, Russia, Turkey say will jointly enforce Syria ceasefire
    ASTANA Iran, Russia and Turkey will establish a trilateral mechanism to observe and ensure full compliance with the ceasefire in Syria, prevent any provocations and determine exactly how the ceasefire will work, the three nations said in a joint statement.Concluding the Syria talks in Astana, Tehran, Moscow and Ankara also said they supported the willingness of the armed opposition groups to participate in the next round of negotiations to be held in Geneva on Feb. 8 and the implementation of UN Security Council resolution 2254. It was not immediately clear whether Syrian opposition or the Damascus government backed the communique. The post Iran, Russia, Turkey say will jointly enforce Syria ceasefire appeared first on .
  • 17 world   Pakistan testfires nuclear missile capable of hitting multiple targets
  • 18 News   BJP declares 3rd list of candidates for UP election, former BSP leader Swami Prasad Maurya gets ticket
  • 19 india   UAE Crown Prince arrives in India for Republic day, talks to be held with PM Modi tomorrow
  • 20 politics   Uttar Pradesh Election 2017: BJP releases third list of 67 candidates for polls
    The BJP on Tuesday released its third list of 67 candidates for Uttar Pradesh assembly polls, which includes the name of former BSP leader Swamy Prasad Maurya, who had recently defected to the saffron party.