Search Result for : Sovereign

The Dollar Business Bureau  To reinforce its control on its currency, China is “considering” a modification in its procedures that would help in bringing more stability to the country’s financial system in near-term. “We were “considering” a change in procedures that would reinforce our control of the renminbi, said Chinese officials. This move by Beijing would probably bring more stability in short-term to the country’s financial system, which has already been the subject of new focus after the credit rating agency Moody’s Investors Service on Wednesday downgraded China’s credit rating on bonds, mentioning its rising debt.  Moody's downgraded the country’s sovereign ratings to A1, stating it believes that the financial strength of the second largest economy of the world would erode in the coming years due ...

The Dollar Business Bureau China’s 2 day unveiling of the One Belt One Road initiative, saw 29 heads of state coming together to partake in the $900 bn investment initiative aimed at developing land and sea trade routes from China to Europe; there were two conspicuous absent nations from the meet, Japan and India. India in its statement reply to China’s invitation to the initiative said, “We are of firm belief that connectivity initiatives must be based on universally recognized international norms, good governance, rule of law, openness, transparency and equality... Connectivity projects must be pursued in a manner that respects sovereignty and territorial integrity. India’s reluctance is plain and open. The CPEC route threatens to violate India’s sovereignty as the project passes ...

PTI India boycotted China's high-profile Belt and Road Forum, taking its protest over a controversial economic corridor traversing through Pakistan- occupied Kashmir (PoK) to a new level despite Beijing's overtures to ensure New Delhi's participation. Following India's boycott, Pakistan Prime Minister Nawaz Sharif, taking a veiled swipe at New Delhi's move, said the multi-billion dollar China-Pakistan Economic Corridor (CPEC) was an economic project open to all the nations in the region and it "must not be politicised". No Indian official of any level was present at the elaborate opening ceremony attended by 29 heads of state and government along with top officials of the world bodies like the UN, the World Bank and the IMF. India skipped the ...

PTI Upset over not getting a rating upgrade, India has lashed out at global rating agencies saying they are far detached from ground realities and must introspect as the reforms initiated certainly warranted an upgrade. Economic Affairs Secretary Shaktikanta Das said India was being denied an upgrade even as growth and fundamentals improve. In past too, India has questioned the methodology used by global rating agencies saying the nation compares favourably with other emerging countries on metrics such as default risk. In particular, it points to S&P Global Ratings keeping China at AA- despite rising debt and slowing growth while India has been kept at one step above junk. Moody's and Fitch too give similar rating citing ...

Source: PTI Reserve Bank is in discussions with the Finance Ministry to raise the Foreign Portfolio Investment (FPI) cap in government bonds, Governor Raghuram Rajan said today. After discussions, RBI will formulate a framework to raise the investment limit for such investors in government debt securities, which will be pegged to the rupee against the current practice of linking it to the dollar, he said. "The overall goal of this medium-term framework will be to enlist FPIs in market development within prudential limits which we set even as they are attracted by the rates available in domestic bonds," Rajan told reporters at the customary post-policy press conference here today. The proposed framework, expected by next month, will include a target for what ...