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FOUND: 3 | Mind Blowing Facts

Fitch Ratings registers interest in virtual banks

Fitch Ratings believes there is significant interest and momentum in Thailand's virtual bank application process, even though the timeline has been extended.

Bangkok Post

Firms to rally amid economic revival

The performance of Thai corporations should gradually improve this year as the domestic economy recovers and inflationary pressures ease, according to analysts at Fitch Ratings' 2023 Thailand Corporate Credit Outlook & Asean ESG conference in Bangkok recently.

Bangkok Post

India's GDP forecast raised to 6.3% from 6% for current fiscal year: Fitch Ratings

This is primarily because of a stronger outturn in the first quarter and near-term momentum. Read further on Dynamite News:

Dynamite News

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Fitch raises India's GDP forecast to 6.3% from 6% for current fiscal year

Fitch Ratings on June 22, 2023 raised its forecast for India’s economic growth to 6.3% for current fiscal year 2023-24 from 6% it had predicted previously

The Hindu

Asian investors hold breath amid US debt drama

RECAP: Asian markets mostly rose on Friday but investors remained on edge heading into the weekend amid concern that US debt-ceiling negotiations could still break down.

Bangkok Post

Debt ceiling talks teeter on the brink, as lawmakers leave town for weekend without a deal

Lawmakers are not expected back in Washington until Tuesday, two days before Treasury Secretary Janet Yellen predicts the U.S. won’t have funds to pay its bills.

Chicago Sun-Times

U.S. Credit Rating at Risk from Debt-Ceiling Impasse

Fitch Ratings late Wednesday placed the United States ‘AAA’ long-term foreign-currency issuer default rating (IDR) on rating watch negative. Fitch said the watch negative reflects increased political partisanship that is hindering reaching a resolution to raise or suspend the debt limit despite the fast-approaching date when the U.S. Treasury exhausts...

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US credit rating at risk of Fitch cut on debt-limit impasse

The tension around the U.S. debt-limit negotiations ratcheted up after Fitch Ratings warned the nation’s AAA rating was under threat from a political standoff that’s preventing a deal.

Tribune News Service

Political uncertainty taking toll on bourse

After losing 3% last week, the Stock Exchange of Thailand (SET) index is likely to remain on a downward trend amid lingering concerns and fiscal uncertainties after the general election, analysts say.

Bangkok Post

Fitch upbeat on post-poll outlook for bank sector

Pro-growth policies and the absence of protests after the election are positive signs for Thai banks and the economy, but uncertainties remain as the winning parties try to form a coalition government, says global financial information provider Fitch Group.

Bangkok Post

Enforcement Directorate search at Manappuram Finance highlights corporate governance challenges in India: Fitch Ratings

Fitch Ratings on May 10 said the recent search by the Enforcement Directorate at gold-backed lender Manappuram Finance highlights corporate governance challenges that can arise in emerging markets such as India.

The Hindu

Fitch affirms India's sovereign rating on robust growth outlook

NEW DELHI: Fitch Ratings on Tuesday affirmed India's sovereign rating with a stable outlook saying the country has a robust growth outlook and resilient external finances.

The Times of India

Largest Catholic university in US faces $56 million budget gap

DePaul University is facing financial pressure after the pandemic intensified declining enrollment and widened the Chicago private school’s budget gap.

Tribune News Service

Outlook for stable gains

Thailand's economy is estimated to expand by 3.6% this year, up from 2.6% last year, supported by stronger private consumption, a recovery in the tourism sector and pent-up demand following China's reopening, according to the World Bank.

Bangkok Post

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Bangkok Post

Regional banks safe from US contagion

Asia-Pacific banks are resilient to risks related to the failures of their US peers, says Fitch Ratings, noting that regional banks have limited direct exposure to Silicon Valley Bank (SVB) and Signature Bank.

Axios

As cyber attacks on health care soar, so does the cost of cyber insurance

As health systems' balance sheets continue to get battered by poor investment returns, soaring workforce and supply chain costs, and soft revenue, they are grappling with another unwieldy financial problem: soaring cyber insurance costs.

Asharq Al-Awsat

Türkiye Earthquake Could Cost $4b in Economic Losses

Fitch Ratings said insurable economic losses following the quakes (in Türkiye) could exceed $4 billion. "Economic losses are hard to estimate as the situation is evolving, but they appear likely to exceed" $2 billion and could reach $4 billion "or more," Fitch Ratings said. Insured losses will be much lower,…

Asharq Al-Awsat

Fitch: Egyptian Banks’ Capital Ratios Can Withstand Further EGP Depreciation

Fitch Ratings lauded the agreement between the Egyptian government and the International Monetary Fund (IMF) in which Egypt secures a $3 billion loan over 46 months. Fitch Ratings added also said that Egyptian banks’ regulatory capital ratios can withstand further Egyptian pound depreciation as they are supported by healthy internal…

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Newsroom.co.nz

If councils retain Three Waters, how much more will they have to raise rates?

We continue our 12 questions about Three Waters. If the assets remain on council balance sheets, communities will pay the price – quite literally.

The Times of India

Fitch affirms India's sovereign rating on robust growth, resilient external finances

NEW DELHI: Fitch Ratings on Tuesday affirmed India's sovereign credit rating at 'BBB-' with a stable outlook, saying the rating derives strengths from a robust growth outlook and still-resilient external finances.

The Times of India

Fitch retains India growth forecast at 7% for this fiscal

NEW DELHI: Fitch Ratings on Tuesday retained India's economic growth forecast at 7 per cent for the current fiscal, but cut projections for the next two financial years saying the country is not impervious to global developments.

Asharq Al-Awsat

Interest Rates Put Pressure on Lending, Limit the Liquidity of the Saudi Financial Market

Financial specialists attributed features of liquidity scarcity in the Saudi financial and banking sector to the effects of raising interest rates and increasing the Saudi Interbank Offered Rate, or Saibor, along with the emergence of attractive investment opportunities. According to specialists, the interest rates rose in parallel with the decline…

AAP

Treasurer capitalises on top credit rating

Australia has maintained its AAA credit rating by Fitch Ratings, which noted the government's decision to show spending restraint in it's first budget.

Bangkok Post

Thailand has stable outlook, BBB+ affirmed

Fitch Ratings has affirmed Thailand's long-term foreign-currency issuer default rating (IDR) at BBB+ with a stable outlook.

Bangkok Post

Fitch sees higher earnings ahead for banks

Fitch Ratings expects higher earnings in the Thai banking sector, in line with the country's economic recovery, with loan-loss reserves in the industry having peaked.

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